TOKYO, Nov 16 (Japan Today) –
Japan has retained its stake in the Sakhalin 1 oil and gas project in eastern Russia, with a Japanese company receiving a 30 percent stake in a new Russian operator, Tass news agency reported Monday.
Japan has retained its stake in the Sakhalin 1 oil and gas project in eastern Russia, with a Japanese company receiving a 30 percent stake in a new Russian operator, Tass news agency reported Monday.
The report, which cited the Russian government, comes as resource-poor Japan has sought to keep its stake in the project to retain a vital source of energy while joining Western countries in imposing sanctions on Russia over its invasion of Ukraine.
Russia has already authorized investments by Japanese trading houses Mitsui & Co and Mitsubishi Corp in Sakhalin 2, a similar energy project on the island of Sakhalin, north of Japan.
Japan’s government and companies, including major trading houses Itochu Corp and Marubeni Corp, have invested in Sakhalin 1 through Sakhalin Oil and Gas Development Co. The Tokyo-based company held a 30 percent stake in the project.
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Japan retains stake in Russia’s Sakhalin 1 oil project
Japan Today – Nov 16
Japan has retained its stake in the Sakhalin 1 oil and gas project in eastern Russia, with a Japanese company receiving a 30 percent stake in a new Russian operator, Tass news agency reported Monday.
Japan Q3 GDP shrinks as high inflation, weakening yen bite
investing.com – Nov 15
The Japanese economy unexpectedly shrank in the third quarter, preliminary data showed on Tuesday, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country.
Toyota joins other Japan companies to make next-generation chips
Nikkei – Nov 11
Toyota Motor and around nine other Japanese companies will team up with the government to launch a new entity to develop and make next-generation semiconductors, Nikkei has learned, aiming to establish manufacturing processes by the late 2020s.
Ferrari, Lamborghini and other supercar sales boom in Japan
theedgemarkets.com – Nov 09
Ferraris, Lamborghinis and other supercars are seeing an unprecedented sales boom in Japan, fueled by pent-up, post-Covid-lockdown demand from wealthy buyers, who also see the vehicles as good investments amid a weakening yen and soaring used-car prices.
Japan’s govt sounds alarm over America’s EV tax credits
freemalaysiatoday.com – Nov 07
Japan’s government warned on Saturday that new electric vehicle tax credits in the United States could ultimately deter further investment by the Japanese there and hit employment in the world’s biggest economy.
Tourists return to Japan, but where are the workers?
Nikkei – Nov 06
Japanese airports and hotels are scrambling to handle the influx of tourists streaming across reopened borders, as staffs that withered to skeletal levels during the pandemic have not rebounded to match the rise in customers.
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