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BUSINESS
August 14, 1995 | From Bloomberg Business News
Kentucky Fried Chicken Corp. opened its first Japanese restaurant in 1970 in the suburbs of Nagoya, a dull industrial city southwest of Tokyo. It bombed. Some days it took in only a few hundred dollars. Most Japanese still get around by train and subway. On the way home they like to pick up dinner in the crowded shopping streets around subway stations that look pretty much the same from Nagoya to Nagasaki: a pub or two, a vegetable stand, a noodle shop and a fast-food joint.
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BUSINESS
March 14, 2001 | Bloomberg News
Japan's current account surplus widened for the first time in four months in January, as investors and companies brought home more earnings from abroad. The current account surplus rose 2.8%, to a seasonally adjusted $7.04 billion in January, the Ministry of Finance said. December's surplus was revised higher to $6.84 billion. Still, the surplus was down 60% from a year ago, to $2.08 billion. The current account is the broadest measure of the flow of goods, services and money to and from Japan.
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BUSINESS
May 29, 1990 | ELAINE KURTENBACH, ASSOCIATED PRESS
Japan's land prices are so inflated that many experts fear a sudden drop could devastate domestic financial markets and send shock waves throughout the global economy. Nonetheless, few believe that such a calamity is likely. Although pressure for land reform in Japan has grown dramatically over the past year, any changes are expected to be slow and cautious. Japan is only 4% the size of the United States, but its real estate assets are worth $14.9 trillion--four times the value of all U.S.
BUSINESS
September 29, 1999 | JOJI SAKURAI, ASSOCIATED PRESS
A blue-chip international investment group plans to acquire debt-laden Long-Term Credit Bank of Japan Ltd. in what would be the first foreign acquisition of a major Japanese bank. The deal disclosed Tuesday is a striking example of Japan's increased willingness to open itself up to foreign investment. It also represents a step forward in the government's efforts to clean up loan problems that have suffocated the banking industry since Japanese property prices collapsed in the early 1990s.
BUSINESS
April 5, 1998 | TOM PETRUNO
The corporate symbol emblazoned across the newspaper ad--a pyramid with a stylized sun rising behind it--would be immediately recognizable to many American investors. But in Japan the typical small investor is only now being introduced to the Fidelity Investments logo--and to Fidelity's menu of mutual fund choices. "A New Era of Investing Begins With Fidelity," the ad proclaims.
BUSINESS
January 10, 1998 | DAVID HOLLEY, TIMES STAFF WRITER
The financial crisis in Indonesia is being watched nervously in Japan, whose massive investment in the crisis-wracked Southeast Asian country has closely intertwined the two economies. With $21 billion in Japanese investment, Indonesia ranks first among Asian countries as a target for Japan's foreign direct investment--ahead even of China, with its far greater population and rapid growth rates, according to Japanese Finance Ministry statistics.
BUSINESS
February 15, 1996
Tiffany to Open Store in Tokyo: The jeweler and luxury retailer said it will open its first stand-alone store in Japan in one of the world's most expensive locations, Tokyo's Ginza Street. Tiffany & Co. said the 7,700-square-foot store in the Iwasaki Building will open in May in partnership with its longtime retail partner, Mitsukoshi Ltd.
BUSINESS
April 3, 1996 | Times Staff and Wire Reports
U.S. Says New Rules Fail to Open Japan's Insurance Market: U.S. trade officials said new Japanese insurance industry guidelines do not fulfill Japan's 1994 pledge to open its insurance market to foreign companies. The guidelines leave the largest segment of the Japanese market closed to foreign companies, while allowing Japanese insurers to enter the tiny portion of the market that now is dominated by non-Japanese companies.
BUSINESS
August 3, 1995 | JAMES GERSTENZANG and DAVID HOLLEY, TIMES STAFF WRITERS
The dollar soared Wednesday against the Japanese yen after Japan's Finance Ministry announced a surprise set of measures to encourage Japanese investment overseas. The Tokyo announcement was followed by large dollar purchases by the Bank of Japan and then by the U.S. Federal Reserve when trading opened in New York. The result: By the end of the day, the dollar had jumped to 90.95 yen in New York, up 3.3% from 88.05 on Tuesday, and hit its highest level since March 14.
BUSINESS
July 6, 1994 | From Associated Press
The new government Tuesday ordered a slashing of some of the red tape that has blocked foreign businesses from the Japanese market, and the finance minister called for even more cuts. The package to ease regulations on 279 products and services was approved in principle in the last days of the previous government, but outgoing Prime Minister Tsutomu Hata left final approval to the new government, which was formed last Wednesday.
BUSINESS
August 8, 1999 | MARK MAGNIER, TIMES STAFF WRITER
"For such a small building, I don't know why they used so much marble," says Sam Kaneko, president of the L.A.-based DaVinci investment group, marveling at the wastefulness as he surveys one of the 16 Tokyo office buildings he recently purchased. "It's typical [speculative] bubble stuff."
BUSINESS
May 23, 1999 | MARK MAGNIER, TIMES STAFF WRITER
Luxury movie theaters might seem an unlikely blow on behalf of consumers, but the latest entrant to Japan's musty cinema industry purports to be just that. Virgin Theaters, a venture by entertainment and airline entrepreneur Richard Branson, opened its first Japanese cinema in April in a suburb of Fukuoka. The company plans as many as three more theaters this year as part of a $100-million, 20-site plan for the next five years.
BUSINESS
May 17, 1998 | SUSAN ESSOYAN, SPECIAL TO THE TIMES
American investors are jockeying to scoop up prestigious resorts in Hawaii at bargain-basement prices as banks pressure their debt-ridden Japanese owners to sell them. "The bank reforms that went into effect in Japan in April have really forced the issue," said Joseph Toy, director of real estate and hospitality consulting for Coopers & Lybrand in Honolulu. "There's long been talk about the [Japanese] Ministry of Finance being more adamant about divestiture of these troubled loans.
NEWS
April 9, 1998 | JAMES FLANIGAN, TIMES SENIOR ECONOMICS EDITOR
Amid deep gloom and great anxiety about Japan's economy, investment bankers and financiers are flocking here from all over the world to make deals because they sense a turning point. Many are American, and they are buying busted real estate properties and bad loans from banks at great discounts. Investment banker Morgan Stanley is said to be buying 1,200 condominium units from Daikyo Inc., a troubled developer, for $93 million.
BUSINESS
April 5, 1998 | TOM PETRUNO
The corporate symbol emblazoned across the newspaper ad--a pyramid with a stylized sun rising behind it--would be immediately recognizable to many American investors. But in Japan the typical small investor is only now being introduced to the Fidelity Investments logo--and to Fidelity's menu of mutual fund choices. "A New Era of Investing Begins With Fidelity," the ad proclaims.
BUSINESS
February 27, 1998 | E. Scott Reckard
Facing a bad economy at home and a hot hotel market here, two Japanese investors recently sold suite-style hotels in Orange County in separate deals, their sales agent said Thursday. "Orange County, especially the Anaheim hotel market, is hot as a pistol," said Richard Mandel, president of Kennedy-Wilson International Inc., the Santa Monica-based company that handled the sales.
BUSINESS
May 31, 1994 | From Times Staff and Wire Reports
Tokyo's Nikkei posted a new 1994 closing high for the second trading day in a row Monday, but most world markets changed little on low volume because of holidays in the United States and Britain. Tokyo share prices advanced on continued buying by European investors, traders said. One trader said more upbeat corporate profit projections encouraged the market. The 225-issue Nikkei Stock Average closed at 20,838.97, up 61.81 points, or 0.30%. On Friday, the average gained 281.36 points to 20,777.
BUSINESS
August 3, 1992 | From Times Staff and Wire Reports
Foreigners Selling Stocks: Foreign investors in June turned to net sellers of Japanese stocks for the first time since December, 1991, the Ministry of Finance reported. They sold $9.326 billion in Japanese stocks, against purchases of $7.366 billion during the month, for net sales of $1.960 billion.
BUSINESS
January 10, 1998 | DAVID HOLLEY, TIMES STAFF WRITER
The financial crisis in Indonesia is being watched nervously in Japan, whose massive investment in the crisis-wracked Southeast Asian country has closely intertwined the two economies. With $21 billion in Japanese investment, Indonesia ranks first among Asian countries as a target for Japan's foreign direct investment--ahead even of China, with its far greater population and rapid growth rates, according to Japanese Finance Ministry statistics.
NEWS
December 28, 1997 | JAMES FLANIGAN, SENIOR ECONOMICS EDITOR
The economies of South Korea and Japan entered another stage in their transition to open markets last week, promising reforms that will have profound effects on the world economy in the next two to three years. As a result of changes now underway, both countries will open their economies to foreign investment, trade and commerce far more than they have to date. They will reshape their companies and industries, providing opportunities for U.S. and European companies and investors.
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