The Democratic Party of Japan picked former trade and industry minister Banri Kaieda as its leader following a Dec. 16 election rout that saw the group lose three quarters of its seats in the lower house.
Japan is prepared to intervene in currency markets to stem the yen’s advance, Economy Minister Banri Kaieda said, signaling that overseas opposition shouldn’t deter authorities from correcting abrupt moves.
China’s “de facto” ban on exports to Japan of rare earths, a group of 17 metals used in weapons, hybrid vehicles and laptop computers, may have a “big impact” on Japan’s economy, Japanese Economy Minister Banri Kaieda said.
Japan’s industry minister, Banri Kaieda, said he will resign after replacing three officials in charge of energy policy and outlining a new structure for the ministry following the Fukushima nuclear disaster.
Japan’s economy may be hurt by its political dispute with China, Economy Minister Banri Kaieda said today, signaling widening concern at the consequences of tensions with the nation’s biggest trading partner.
Japan’s ruling party today chooses Naoto Kan’s successor as prime minister following weekend debates that revealed differences over how to cover the costs of rebuilding from the March 11 earthquake and a nuclear meltdown.