Japan current account surplus falls to its lowest since 1996, Reuters says

TOKYO (TR) – Japan’s current-account surplus fell 44 percent in 2011 from the previous year to $125 billion (9.63 trillion yen); that is its lowest since 1996 and its biggest fall on record, Reuters reported.

Japan posted its first trade deficit since 1980 last year after suffering the devastating March 11 earthquake and tsunami, which paralyzed most of the nation’s nuclear energy output and greatly increased the cost of energy. Additionally, the slowing global economy and Eurozone debt crisis are driving up the value of the yen as traders seek safety, further raising the cost of the nation’s exports.  [Read more]

Japanese-born starlet released on bail after altercation with taxi driver, Taipei Times says

TOKYO (TR) – Taipei authorities have released Taiwanese-Japanese actress and singer Makiyo on $1,000 bail (NT$30,000) and barred her from leaving the island for her involvement in a dispute last week that seriously injured a taxi cab driver, the Taipei Times reported.

Makiyo, suspected of being drunk at the time, was a passenger in the car with two other Taiwanese actresses and a male companion from Japan when the altercation started, according to the paper. The male friend, identified as Takateru Tomoyori, was arrested Friday for allegedly attacking the driver who remains in intensive care with two fractured ribs and a concussion, the Times said. [Read more]

Temperature rise at TEPCO’s damaged No. 2 reactor in Fukushima, NHK says

TOKYO (TR) – Water temperature in the No. 2 reactor at Tokyo Electric and Power Company’s damaged Fukushima Daiichi nuclear power plant has risen 25 degrees since January 27, Japan’s NHK News said, citing the electric utility.

The temperature was last reported at 70 degrees Celsius after hovering recently at around 45 degrees. Only one thermometer in the reactor is showing the rise; two other heat monitoring devices are unchanged, NHK reported. [Read more]

Japanese police investigate death of 23-year-old American in Osaka, Kyodo says

TOKYO (TR) – Japanese police are investigating whether foul play was involved in the death of an American found lying on the street in in Osaka’s Chuo Ward early Saturday morning, Kyodo News said.

The 23-year-old man was unconscious and bleeding from an ear when he was found, according to Kyodo. The Osaka prefectural police believe he may have fallen from a six-story building. [Read more]

Preliminary talks on Japan’s entry in the TPP free trade negotiations begin Tuesday, Kyodo says

TOKYO (TR) – Preliminary talks on Japan’s entry to the Trans-Pacific Partnership free trade agreement negotiations will begin next Tuesday when senior U.S. and Japanese officials meet in Washington, Kyodo News reported, citing Japanese government officials.

The talks are scheduled to take place over two days. The two sides will discuss Washington’s call for Japan to further open its auto and farm markets, Kyodo said. The outcome of the talks will determine whether Japan joins the other nine nations currently involved in the TPP negotiations. [Read more]

Death toll from Japan snow storm surpasses 50; more storms predicted, International Business Times says

TOKYO (TR) – The worst snow storm in Japan in six years killed as many as 52 people and injured another 600, according to the International Business Times.

A series of storms stretching across much of the main island of Honshu and the northern island of Hokkaido since the New Year have battered the nation which is still trying to recover from the March 11, earthquake and tsunami that killed as many as 20,000 people. Nearly half the cities in the western prefecture of Niigata have already spent the funds earmarked for snow removal this year, the IBT said, citing news reports. [Read more]

Computer glitch temporarily halts trading on Tokyo Stock Exchange, Bloomberg says

TOKYO (TR) – The Tokyo Stock Exchange has resumed trading after a glitch forced a halt in early morning trading Thursday that affected 241 securities, including Sony Corp. and Hitachi Ltd., Bloomberg News reported.

The glitch was traced to a server tied to the exchange’s data transmission service, according to Bloomberg. The error also forced a temporary halt in trading of the affected securities on the Sapporo Stock Exchanged as well as alternative platforms such as SBI Japannext and Chi-X Japan Ltd.; their servers are linked, the news agency said. [Read more]

Pipe at TEPCO’s Fukushima Daiichi plant breaks, leaks 8.5 tons of radioactive water, Kyodo says

TOKYO (TR) – As much as 8.5 tons of radioactive cooling water escaped from Tokyo Electric Power Company’s Fukushima Daiichi reactor No. 4 after a pipe broke at the facility, Kyodo News reported, citing the power utility.

Engineers at the plant stopped the leak 13 minutes after the pipe burst and none of the radioactive water left the building, officials said, according to Kyodo. No fuel was in reactor No. 4 when the March 11, earthquake and tsunami hit; it was undergoing maintenance and offline at the time. [Read more]

Sony names Kazuo Hirai as President and CEO; Stringer to become Chairman of the Board

TOKYO (TR) – Electronics and entertainment giant Sony Corp. named Kazuo Hirai as president and chief executive officer as a replacement for Howard Stringer, who will become Chairman of the Board of Directors, according to a press release issued by the company on Tuesday.

Hirai’s promotion will be effective April 1, while Stringer will assume chairman duties in June, the release said.

For the second quarter of the current fiscal year, Sony reported a 27 billion yen ($346 million) loss. A strong yen and weak sales in televisions are expected to make this year the fourth consecutive in which the company has been in the red. [Read more]

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