Share prices in Tokyo have suffered their biggest intraday drop in about 30 years, as fears over the coronavirus pandemic continue to grow.
Japan's Prime Minister and the US President have agreed to strengthen cooperation to tackle the spread of the coronavirus.
Japan's Diet has enacted a law that will enable the prime minister to declare a state of emergency to help contain the outbreak.
https://www3.nhk.or.jp/nhkworld/upld/medias/en/radio/news/20200313200000_english_1.mp3
Key words : share prices biggest
https://www3.nhk.or.jp/nhkworld/en/news/20200313_39/
Share prices in Tokyo have suffered their biggest intraday drop in about 30 years, as fears over the coronavirus pandemic continue to grow.
The benchmark Nikkei 225 was down more than 1,800 points at one time on Friday.
It closed at 17,431. That's down 1,128 points from Thursday and the lowest close since November 2016.
The index fell about 16 percent this week.
Sources say global markets are experiencing turmoil similar to that of the 2008 global financial crisis, and that the outlook remains uncertain.
Key words : finance minister volatile
https://www3.nhk.or.jp/nhkworld/en/news/20200313_31/
Japan's Finance Minister Taro Aso says stock markets are volatile because the spread of the new coronavirus is fueling economic uncertainty.
His comment comes as share prices in the US, Europe, and Japan continue to plunge dramatically.
Aso told reporters on Friday that stock prices have been fluctuating wildly in New York and Tokyo.
He said the uncertainty is affecting people's sentiments about the economy. But he noted that the business performance of companies has not worsened.
The finance minister said many people in the ruling coalition are considering additional economic measures, even though the government just rolled out its second emergency package.
Aso stressed that economic measures need to be effective. He added that an across-the-board tax cut is unlikely to help stimulate the economy.
Key words : prime minister the US tackle
https://www3.nhk.or.jp/nhkworld/en/news/20200313_27/
Prime Minister Shinzo Abe and US President Donald Trump have agreed to strengthen cooperation to tackle the spread of the new coronavirus. They also agreed to work together for the Tokyo Olympics and Paralympics.
The two leaders spoke by phone for about 50 minutes from 9 a.m. on Friday, Japan time, at the request of the US side.
Abe told Trump that his government has been calling for cancellations of large-scale events in Japan and has enhanced border control measures to help contain the coronavirus.
The prime minister also said he will continue to address the outbreak in a resolute and timely manner.
Trump reportedly replied that the United States is also making all-out efforts to contain the virus.
The two leaders also exchanged views on the economic impact of the outbreak, including sharp falls in stock prices, as well as possible financial measures.
Regarding the Tokyo Olympics and Paralympics, Abe stressed that Japan is doing all it can to hold the Games as scheduled. Trump reportedly said he appreciates Japan's transparent efforts.
Before the phone talks, Trump had suggested that the Tokyo Games could be delayed for a year. But Japanese government sources say Trump did not mention this during the talks.
Trump tweeted that he had a great conversation with Abe.
Trump wrote, "I told him that the just completed Olympic venue is magnificent. He has done an incredible job." He also wrote, "Good things will happen for Japan," adding that there are "lots of options."
Key words : head of olympic follow
https://www3.nhk.or.jp/nhkworld/en/news/20200313_41/
The head of the International Olympic Committee says it will follow the World Health Organization's recommendation on whether to cancel the 2020 Tokyo Games amid the coronavirus outbreak.
IOC President Thomas Bach made the remark in an interview with German broadcaster ARD on Thursday.
Bach stressed that the IOC will make every effort for the Tokyo Games to open on July 24 as scheduled and for athletes to fully prepare for a successful Olympics.
He said the IOC launched a task force in mid-February with the WHO and other organizations to respond to the outbreak, and that the committee is monitoring the situation around the clock every day.
Meanwhile, the torch relay for the games is underway in Greece. The Olympic flame is expected to arrive in Japan on March 20.
Key words : diet enacted
https://www3.nhk.or.jp/nhkworld/en/news/20200313_45/
Japan's Diet has enacted a law that will enable the prime minister to declare a state of emergency to help contain the coronavirus outbreak.
The Upper House approved the legislation on Friday with support from the governing coalition and some of the opposition parties. The Lower House passed the bill on Thursday.
A declaration of a state of emergency will enable prefectural governors to make various kinds of requests or orders. They include preventive measures such as asking people to stay home, as well as school closures.
Lawmakers also approved a supplementary resolution that calls for the government to give advance notice of a declaration to the Diet and make follow-up reports on the situation.
The law will go into effect on Saturday.
Chief Cabinet Secretary Yoshihide Suga told reporters that the government will decide carefully whether to declare an emergency because it will have a serious impact on people's lives.
Key words : chemical
https://www3.nhk.or.jp/nhkworld/en/news/20200313_43/
A Japanese chemical maker says it will start importing and supplying kits that can quickly detect the new coronavirus.
Testing in the country now takes around 6 hours. Kurabo Industries says the kits will be able to do the job in just 15 minutes without needing any special equipment.
The company will import the product from a Chinese partner, which developed it. The kits are expected to hit the market this month.
It uses a re-agent to determine if antibodies are present in a small sample of a person's blood. Kurabo officials say the kits have had a 95-percent accuracy rate while used in China. They say they can supply up to 10,000 a day in Japan.
The Health Ministry says it will study the product. It will work to ensure the kits can be delivered to testing institutions as soon as possible, if they are proven effective.
Key words : banker association
https://www3.nhk.or.jp/nhkworld/en/news/20200313_32/
The Japanese Bankers Association is asking its member institutions to deal " flexibly" with clients hard hit by the outbreak.
A growing number of companies are being forced to close factories or cancel events, as they struggle to raise funds.
The association wants city and regional banks to quickly and flexibly respond to borrowers' requests to ease conditions in their existing loan agreements.
It is also urging the institutions to dial-back their paperwork requirements for loan screening and other purposes.
The government will roll out a system next week that provides no-collateral, zero-interest loans to affected small and medium-sized businesses.
Key words : several major
https://www3.nhk.or.jp/nhkworld/en/news/20200313_35/
Several major companies in Japan have decided to continue requiring some of their employees to work from home. The firms have extended their teleworking deadlines, as the spread of the coronavirus still shows no signs of being contained.
About 8,000 workers in Japan of cosmetics maker Shiseido have been doing their duties outside the office under the emergency measure. It was originally scheduled to end on Sunday. But Shiseido has pushed it back to March 31.
Leading trading firm Mitsubishi Corporation has also extended its period from the 15th to the end of the month. About 3,800 of its domestic employees are teleworking.
Another leading trading house, Sumitomo Corporation, and Nissin Foods Holdings are taking similar steps.
Key words : operator tokaido reduce
https://www3.nhk.or.jp/nhkworld/en/news/20200313_46/
The operator of Japan's Tokaido Shinkansen line says it will reduce the number of its trains in late March due to the coronavirus outbreak.
The Central Japan Railway Company had planned to operate extra Nozomi bullet trains from March 19 through 31, when the number of passengers usually increases due to spring holidays.
But it decided to suspend 192 Shinkansen services including extra Nozomi trains, as many tourists and business people are avoiding travel.
The company says it will offer refunds for tickets for cancelled trains.
It adds that it may further reduce the number of bullet trains from April 1, depending on circumstances.
Key words : segmet wrapping up the top stories of the week
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