The Nation Newspaper

Tag: Japan

  • Japan’s economy makes surprise fall into recession

    Japan’s economy unexpectedly shrank for the second consecutive quarter, leaving the world’s third largest economy in technical recession.

    Gross domestic product (GDP) fell at an annualised 1.6 per cent from July to September, compared with forecasts of a 2.1 per cent rise.

    That followed a revised 7.3 per cent contraction in the second quarter, which was the biggest fall since the March 2011 earthquake and tsunami.

    Economists said the weak economic data could delay a sales tax rise.

    Prime Minister Shinzo Abe is widely expected to call a snap election to seek a mandate to delay an increase in the sales tax to 10per cent, scheduled for 2015.

    The tax increase was legislated by the previous government in 2012 to curb Japan’s huge public debt, which is the highest among developed nations.

    April saw the first phase of the sales tax increase, from five per cent to eight per cent, which hit growth in the second quarter and still appears to be having an impact on the economy.

     

     

  • Japanese Govt Provide 10 Lagos PHCs with Equipment

    Japanese Govt Provide 10 Lagos PHCs with Equipment

    L-R Mrs. Adeshina, Mr. Shoji and Mrs. Sofola during the presentation of the equipment
    Mrs. Adeshina, Mr. Shoji ( The Japanese Ambassador to Nigeria) and Mrs. Sofola during the official donation of the medical equipment

     

     

     

     

     

    The Japanese envoy, Mr. Shoji, delivering his remarks at the donation in Ogudu, Lagos
    The Japanese envoy, Mr. Shoji, delivering his remarks at the donation in Ogudu, Lagos
  • Japan Partners Biire Foundation, Equips PHCs in Lagos

    Japan Partners Biire Foundation, Equips PHCs in Lagos

    The government of Japan in partnership with Biire Child and Maternal Health Foundation on Thursday provided 10 Primary Health Care Centres (PHC) across Lagos State with medical equipment.

    At the Ogudu Primary Health Centre in Kosofe Local government area of Lagos state, one of the beneficiaries of the equipment, the Japanese ambassador to Nigeria, Mr. Ryuichi Shoji affirmed the interest of the government of Japan in ‘The Projects for Provision of Medical Equipment for Primary Health Care centres in Lagos State’.

    According to Dare Ajayi, the Japanese government through her embassy in Nigeria has continued to work through various Non Governmental Organisations (NGOs) in the country to carry out development projects especially in the rural areas.

    “The Japanese government has rendered project assistance to Nigeria worth over $5billion hitherto, these assistance are wide spread across various sectors such as health, education, water, sanitation and rural electrification, poverty reduction,” Ajayi recounted.

    He also added that these funds also include loan assistance, grant aid, technical cooperation and the grassroots human security projects.

    While delivering his speech, Mr. Shoji, the Japanese Ambassador said: “I like to express my gratitude to our implementing partner, Biire Child and Maternal Health Foundation and for the cooperation of the Lagos state Ministry of Health, the Primary Health Care Board and Japanese International Cooperation Agency (JICA)”.

    He further noted that the health sector is one of the main sectors, which Japan has been working on for many years in Nigeria.

    His words: “We would continue to give priority attention to the health sector in Nigeria. We should always keep in mind that sustainable economic development consists in the well-being of each individual. Therefore, each individual in Nigeria should be involved in its economic growth. This basic idea forms the background of today’s event“.

    In her remarks, Dr. Mrs. Yewande Adeshina, Special Adviser on Public Health to Babatunde Raji Fashola (SAN), Governor of Lagos State, assured the Japanese ambassador of continuous improvement in Primary Health Care Centres across the state. Her words: “I like to reassure you that our maternal mortality rate and infant mortality rate in Lagos is getting better due to a lot of interventions and funding which are yielding results. And this is why your support is so critical to us to know that we are not alone in this fight to keep our pregnant mothers alive.

    “Some of the intervention is the establishment of the flagship PHCs. We realised that our general hospitals are overwhelmed with cases that should be handled at the PHC centres. So the Lagos state government thought that if each of the Local government and Local council areas in the state could have one PHC that is comprehensive, fully equipped and fully staffed, people would go less to the general hospitals and stay more in their Local government areas”.

    Consequently, Mr. Ajayi urged the benefitting Primary Health Care Centres to maximize the use of the equipment through proper maintenance.

    He therefore encouraged local government authorities as well as capable Nigerians to tread same path with the Japanese government saying: “We cannot continue fold our hands and wait on international organisations to provide oxygen unit and delivery beds for our mothers and sisters”.

     

  • AfDB, Japan sign $307m pact on job creation

    The African Development Bank (AfDB) and the Japan International Cooperation Agency (JICA) have signed  a bilateral agreement for a facility of 30.69 billion Japanese yen ($307 million). This is the fifth loan to the AfDB under the Enhanced Private Sector Assistance (EPSA) for Africa Initiative, which supports entrepreneurship, job creation and economic growth in Africa.

    The loan agreement was signed by Head of the Asian External Representation Office (ASRO) of the AfDB, Masayuki Tamagawa, and the Vice-President of JICA, Hiroshi Kato.

    This Tokyo signing ceremony is a follow-up to the signing of the exchange of notes between the AfDB and the government of Japan signed by AfDB President Donald Kaberuka and Ambassador of Japan to Côte d’Ivoire, Susumu Inoue.

    During the signing ceremony, the Vice-President of JICA, Kato, said: “I am very happy to sign on the Loan Agreement today which we believe will help further the progress of private sector development and also the employment situation among youth in Africa. Since the Asian Office of the AfDB has been in the frontline to promote private sector development of African, JICA is grateful to continuously cooperate with the AfDB to promote this effort in Japan.”

    In his remarks, Head of Asian External Representation Office (ASRO) of the Bank, Masayuki Tamagawa said: “It  is my great pleasure to sign on this Loan Agreement in Tokyo, Japan, on behalf of the Bank, which is our first occasion since the opening of ASRO in 2012. JICA is the bank’s natural partner and we are and will be working very closely together to promote and enhance private sector development to improve the economic situation in Africa.”

    This fifth Private Sector Assistance Loan is the first agreement after the pledge by the government of Japan to double the support to EPSA from $1 billion to $2 billion, which was announced by the Prime Minister Abe in January this year when he visited Africa.

    This $307-million Loan Agreement is part of the larger $2 billion EPSA initiative to help AfDB’s private sector (non-sovereign) operations.

    This includes public-private partnerships for the provision of essential eco nomic infrastructure and direct investment by the AfDB in key African financial institutions and economic enterprises.

  • Japan’s economy shrinks by 1.8 per cent in three months

    Private consumption makes up some 60 per cent of Japan’s economic activity .

    Japan’s economy shrank 1.8 per cent between April and June, worse than forecast and raising more questions about the government’s economic policy.

    The official data confirmed that the world’s third largest economy suffered its sharpest quarterly contraction since the 2011 earthquake disaster.

    On an annualised basis it would mean gross domestic product (GDP) fell 7.1 per cent.

    The fall was blamed in part on a consumer sales tax introduced in April, with another rise planned for next year.

    The release of Monday’s revised official data follows publication of initial GDP estimates that put the second quarter contraction at 1.7 per cent, with the annualised rate at 6.8 per cent.

    In the first quarter of the year, the economy grew by 1.5 per cent.

    The single biggest factor behind the contraction in the second quarter is thought to be a rise in the nation’s sales tax in April, to eight per cent from five per cent.

    There are now calls for Prime Minister Shinzo Abe to delay a further rise planned for next year, while the central bank has faced fresh demands to expand its stimulus programme.

    Private consumption makes up some 60 per cent of Japan’s economic activity.

    Retail spending figures have showed that the country’s consumers boosted spending the first quarter in an attempt to beat the sales tax hike in April.

    And that activity is what economists say negatively impacted growth in the second quarter.

    A raft of official data released at the end of last month by Japan’s government showed that households had spent less and that factory output stayed flat in July.

    Retail sales in July showed some small hope, rising by 0.5 per cent from a year earlier, after a fall of 0.6 per cent in June.

    But economists say the current economic landscape should encourage the government to introduce even more reforms.

    Prime Minister Shinzo Abe’s position on raising the sales tax to 10 per cent is “utterly neutral”, says Japan’s economy minister Akira Amari

    At the beginning of this month, Mr Abe announced a government re-shuffle, which many have said signals his determination to get the economy back on track by the end of the year.

     

     

     

     

  • Japan spends $2m on rice production

    Japan spends $2m on rice production

    Chief  Representative, Japan International Cooperation Agenc, Mr Tetsuo Seki  said his  agency  spends $2million annually  to  support Nigeria’s  effort to  double  rice production and help alleviate poverty.

    Speaking with The Nation after the kick off of rice seeds distribution to vulnerable farmers  in Benue  and Nasarawa   states, in Lafia, Seki said  JICA  was  particularly interested in  transferring the expertise gained during his country’s ‘green revolution’ to  Nigerian farmers.

    He  said the Japan-funded Emergency project addresses  critical needs in rice seed and data, adding  that Japan is providing significant support to provide enhanced access to quality seed of improved rice varieties

    He  said  his  agency is  collaborating  with the  Federal Ministry of Agriculture and Rural Development and   the National Cereals Research Institute (NCRI), Badeggi, to train  Nigerians  on rice processing and packaging. The  training   is  to ensure self-sufficiency in rice production in the country.

    He  said  JICA support   include rice milling machines, rice pre-cleaners, rapid steam par boilers, destoners, probe moisture metres and bag sewing machines.

    The Permanent Secretary of Nigeria’s Ministry of Agriculture and Rural Development (MARD) said the government is aiming to increase paddy rice production to about 13.27 million tons by 2018 under the Coalition for African Rice Development (CARD) initiative, and an improved rice seed sector is important to meet the goal.

    CARD is collaboration among the  JICA, Growing Africa’s Agriculture (AGRA) and the New Partnership for Africa’s Development (NEPAD).

    The pilot phase of the initiative involves identification of strategies to improve rice seed supply. The Technical Coordinator of CARD Secretariat said  a stable and timely supply of quality seeds is important for increasing rice production and productivity.

    Most of the CARD members consider seed sector as one of the priorities to be tackled, he adds.

    Nigeria is expected to pass the National Agricultural Seed Law (NASL), which will include points such as upgrading of available seed testing laboratories to international standards, consistency in agricultural policies, increase in the annual budget of seeds, and timely release of budgetary provisions.

    Nigeria is aiming self-sufficiency in rice production by 2015. However, this could be a challenge for a country that imports almost 3 million tons of rice per year.

    According to the USDA, Nigeria’s milled rice production is estimated at 2.8 million tons (about 4.4 million tons of paddy) in MY 2013-14, less than half of an estimated domestic consumption of around six million tons.

  • NLNG finds bigger market in Japan

    NLNG finds bigger market in Japan

    •‘U.S.’ exit won’t affect our business’

    The Nigeria Liquefied Natural Gas (NLNG) Limited has found a bigger market in Japan, after the United States (US) stopped patronising it. The US stopped buying gas from Nigeria following its discovery and production of shale gas.

    NLNG Managing Director Babs Omotowa said in Lagos during the company’s presentation of its 2014 facts and figures that the US accounted for 35 per cent of its market. But that doesn’t exist because of shale oil, he said, adding that NLNG has found even a bigger market in the Far East. “Japan is our largest market now,” he said.

    He explained that the loss of the US market would not affect NLNG’s operations and sales because the supply contracts are long term, which will last for over 20 years. NLNG, he said, is also exploring other markets depending on availability of gas.

    The NLNG chief said the  Train 7 project is on course, explaining that the delay in the construction of the train is caused by gas supply. According to him, the non-passage of the Petroleum Industry Bill (PIB) and funding are some of the challenges affecting the gas suppliers of the project. He however noted that the pre-final investment decision (FID) processes are being concluded.

    He noted that the NLNG accounts for seven per cent of global LNG supplies and expects to increase to 10 per cent when Train seven comes on stream.

    The company is rated the fastest growing LNG project in the world and operates six trains which produce 22 million metric tons of LNG yearly, adding that this will grow to 30 million metric tons with Train 7 in operation.

    Omotowa said NLNG contributes four per cent of Nigeria’s Gross Domestic Product (GDP), adding that this may change if the rebased-GDP is considered.

    On other contributions to the economy, he said: “Since inception, we have shipped 3000 LNG cargoes to customers globally, which is over four trillion cubic feet of associated gas that ordinarily would have been flared. With this, we have reduced gas flaring by upstream companies from over 60 per cent to 11 per cent.

    “The company pays corporate income tax of over N200 billion per annum, Rivers State Government earns over N6 billion per annum from personal income taxes, and Bonny Local Government earns over N88 million yearly as tenement rate, among others.

    Omotowa said Nigeria LNG has paid over $27billion dividend to the shareholders of the company since inception, adding that Nigerians have earned $50 billion from the company since inception.

  • Japan imposes sanctions on Russia over Crimea crisis

    Japan imposes sanctions on Russia over Crimea crisis

    Japan’s Foreign Minister Fumio Kishida on Tuesday announced sanctions on Russia over crisis related to Crimea.

    This is contained in a statement released by the ministry.

    “The Japanese government does not recognise Crimean referendum which said over 95 per cent of voters wanted the region to join Russia,’’ Kishida said.

    Kishida announced the suspension of negotiation with Russia on relaxing visa regulations, and talks on agreements covering investment, outer-space and prevention of dangerous military movement.

    A report says that the Crimean parliament adopted a resolution on the independence of the territory, and asked Russia to admit it as its new constituent member.

    However, it added that Russian President Vladimir Putin had signed a decree to recognise Crimea as a sovereign and independent state.

  • Missing jet: Japan to dispatch transport aircraft to help Malaysia

    Japan will dispatch Air Self-Defence Force (ASDF) transport aircraft to join the international massive hunt for the missing Malaysia Airlines Flight MH370, local media reported on Tuesday.

    Defence Minister Itsunori Onodera told reporters on Tuesday that an advance team of four ASDF staff would leave for Kuala Lumpur later in the day.

    He said the Japanese government would decide what activities the aircraft would engage in after the team reports back.

    Japan’s Chief Cabinet Secretary, Yoshihide Suga, said the Malaysian government requested Tokyo on Monday to aid the search for the missing plane.

    “We will take into account what is expected (by Malaysia) and do whatever we can in response to the request,’’ the top government spokesman said in a news conference on Tuesday.

    The Boeing 777 aircraft suddenly vanished from radar early on Saturday morning while carrying 227 passengers and 12 crew members from Kuala Lumpur to Beijing.

    Among the passengers were 154 Chinese.

    Dozens of ships and planes from around 10 countries are scouring the waters around Flight MH370’s last known location, but no solid clues have been found so far.

  • 11 killed in Japan snowfall

    Japan was hit by record snowfall again this weekend, as several prefectures in the eastern part of the country reported deaths as well as severe transport delays and disruptions.

    The police have confirmed at least 11 deaths caused by the snowstorm across northeast Japan. More than a thousand people are reported to be injured from incidents caused by the heavy snow.

    Elderly residents in Oyama in Shizuoka Prefecture were stranded in their homes, following a snow dump of more than three feet (1 metre) on Friday. Other isolated communities were also cut off.

    Tokyo experienced just under a foot (27cm) of snow over the weekend, days after the capital had experienced its heaviest snowfall in decades. A highway connecting Gunma and Nagano prefectures was closed, stranding hundreds of drivers, and the national broadcaster NHK said over 600 flights, mostly domestic, across the country were also cancelled.

    Police said building collapses accounted for several fatalities, while in Yamanashi prefecture two men froze to death in separate incidents while trying to walk home from stranded cars.

     

    A commuter train collision at a station on the outskirts of Tokyo was also attributed to the snow by railway operator Tokyu Corp. Around 20 passengers were left with minor injuries in the incident.

    The Japan Meteorological Agency has raised advisories for much of the country, and with the storm heading northwards, sections of northern island of Hokkaido have been placed under warning of heavy snowfall and avalanches.