February 3, 1998 |
Monday's sharp gains in several Asian markets, on the first day of trading following a five-day break for Lunar New Year, extend a rally that began on Jan. 13 and reflect a growing belief that the region's economic reforms have some credibility. Good news in recent weeks has come from Japan, where the government has pledged $236 billion to bail out the country's banks--including almost $24 billion earmarked for loans to corporations so they may avoid a credit crunch.
August 4, 1993 |
Japan's next government should clearly apologize for World War II and "inform our children what their forefathers did in the past," Tsutomu Hata, who is expected to become the country's deputy prime minister, said Tuesday. Such action is needed, he said, to end constant foreign demands for apologies and continuing suspicion that Japan is bent on seeking military dominance again in Asia.
July 28, 1993 |
Two centrist opposition leaders who hold the votes to determine who will run Japan's next government informed the country's perennial leaders, the Liberal Democrats, today that they will side with five opposition parties to form an opposition-led coalition. Barring any unpredictable 11th-hour snags, the development appeared to ensure the end of the Liberal Democrats' 38-year rule of Japan.
June 7, 1995 |
To mark the 50th anniversary of the end of World War II, Japan's coalition government patched together a proposed parliamentary resolution Tuesday expressing "deep self-reflection" over this nation's past. The "negotiated apology" omitted the word apology on the insistence of the Liberal Democratic Party, whose antecedents led Japan during the war.
July 14, 1998 |
The contest for the top post in the world's No. 2 economy may come to a choice between bland and spicy. Keizo Obuchi, a leading candidate to become Japan's next prime minister, is an insider known as a consummate conciliator. Seiroku Kajiyama, the other favorite, is a far more colorful reformer whose aggressive, outspoken ways have earned him plenty of enemies.
January 3, 1990 |
In an unusually aggressive display of its power over Japan's auto industry, the Japanese government is pressuring the nation's auto companies to refrain from expanding their manufacturing operations in Japan for fear of further damaging trade relations with the United States.
December 23, 1998 |
The strains caused by Japan's enormous government spending spree sent interest rates sharply higher and stocks reeling Tuesday, further undermining prospects for a turnaround in the world's second-largest economy. Japan's bellwether 10-year government bond saw its biggest one-day price decline ever, sending its annualized yield to 1.94% from 1.5% Monday, after the Ministry of Finance's trust fund said it would quit buying bonds--leaving few takers in sight.
June 30, 1994 |
Socialist party leader Tomiichi Murayama's election Wednesday as Japanese prime minister places new strains on U.S.-Japan trade relations and may derail Tokyo's efforts to carry out economic reforms.
January 31, 1999 |
Thirteen years ago, David Halberstam's "The Reckoning" explored the changing industrial fortunes of Japan and the United States through the rise of Nissan Motor Co. and the decline of Ford Motor Co. The book portrayed Nissan as a determined, customer-driven company that made U.S. inroads with high-quality, sporty cars. In contrast, Ford was depicted as a faltering, risk-averse concern run by accountants absorbed with profit and stock value rather than emotion-stirring vehicles.
July 19, 1993 |
For the first time in its 38-year history, the ruling Liberal Democratic Party failed to win a majority in the powerful lower house of Parliament in an election that creates a new political framework for Japan. The outcome in Sunday's election, however, was better than the ruling party feared a month ago when 48 of its representatives walked out to form alternative conservative parties. As for the leftist opposition, the results were far worse than it had hoped.