at 20:00 (JST), March 24

Toyota Motor and Japanese telecom giant NTT said that they have formed a major capital tie-up.

Share prices in Tokyo saw their largest rise in more than four years on Tuesday.

The International Monetary Fund says the coronavirus pandemic is likely to cause a worldwide recession this year.

https://www3.nhk.or.jp/nhkworld/upld/medias/en/radio/news/20200324200000_english_1.mp3


Key words : Toyota NTT Sawada
https://www3.nhk.or.jp/nhkworld/en/news/20200324_46/

Toyota Motor and telecom giant NTT have formed a major capital tie-up to advance developments toward a so-called "smart city."

The two companies will take about 200 billion yen of each other's shares on April 9. That's about 1.8 billion dollars.

Toyota will acquire about two percent of NTT's shares, and NTT will take nearly one percent of Toyota's shares.

Toyota Motor President Akio Toyoda said "the idea of creating so-called connected city is becoming more and more essential." He added: "It would connect society, people's lives and automobiles."

NTT President and CEO Jun Sawada said: "We hope to create new social infrastructure by teaming up with Toyota."

The two companies will team up on a wide range of mobile services. The tie-up would combine Toyota's next-generation technologies, such as self-driving, with NTT's expertise in communications infrastructure.

Automakers have been in an intense global race for advanced technologies, known as "CASE," which refers to "connected, autonomous, shared, and electric."

Key words : Susono
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Key words : share prices largest
https://www3.nhk.or.jp/nhkworld/en/news/20200324_50/

Tokyo's share prices saw their largest rise in more than four years on Tuesday. Investors were in a buying mood after seeing the Bank of Japan buy financial assets to prop up the markets.

The Nikkei Average ended the day at 18,092, or up 7.1 percent from Monday's close. That was a gain of over 1,200 points. Expectations that the US Congress will approve a two-trillion dollar aid package also pushed up the index.

SoftBank Group's stock price rose 19 percent. Investors scooped up the shares after it announced plans to strengthen its balance sheet by selling assets and buying back shares.

Most other markets in the Asia-Pacific region rebounded. The benchmark in Seoul surged 8.6 percent.

Singapore was up 5.8 percent. Sydney and Hong Kong each gained more than 4 percent.

Key words : Finance ministers
https://www3.nhk.or.jp/nhkworld/en/news/20200324_05/

Finance ministers and central bankers from the Group of 20 countries have discussed responses to the coronavirus pandemic.

They held an emergency teleconference on Monday. Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda participated.

Aso later told reporters that the G20 countries are seriously concerned about the impact the pandemic is having on markets and economies, and the "humanitarian tragedy" it is creating.

He said the G20 members have an important role to play. He added that they are determined to take all possible measures "without hesitation" to overcome the crisis.

Aso said the development of coronavirus medicines will be the key to overcoming the current situation. He called on countries to work together to develop them, in order to make the process more efficient.

The finance minister also insisted that countries should implement sufficient economic and fiscal measures.

He stressed that the G20 members should provide support to countries with poor medical services, in cooperation with organizations such as the International Monetary Fund and the World Bank.

Aso also revealed a plan for the G20 leaders to hold a teleconference call as early as this week.

Key words : worldwide recession
https://www3.nhk.or.jp/nhkworld/en/news/20200324_40/

The International Monetary Fund says the coronavirus pandemic is likely to cause a worldwide recession this year.

IMF Managing Director Kristalina Georgieva released a statement saying the outlook for global growth for 2020 is negative, and predicted "a recession at least as bad as during the global financial crisis or worse."

But Georgieva said the economy will probably recover in 2021.

In February, when the virus had yet to reach the pandemic level, the IMF forecast a global growth of 3.2 percent for 2020, higher than the previous year.

Key words : Major US financial
https://www3.nhk.or.jp/nhkworld/en/news/20200324_41/

Major US financial groups are forecasting record declines in the US economy.

Goldman Sachs is forecasting annualized GDP growth rates of minus 6 percent in the first quarter of this year, and minus 24 percent in the second quarter. It says that's the largest quarterly decline since the US began measuring GDP in its current form.

The firm also says the contractions may send unemployment rates soaring from the current 3.5 percent to 9 percent in coming quarters.

The Bank of America says it expects GDP to shrink by 12 percent in the second quarter. JPMorgan Chase expects it to drop by 14 percent.

Key words : US federal reserve
https://www3.nhk.or.jp/nhkworld/en/news/20200324_02/

The US Federal Reserve has pledged further action to help markets function smoothly amid worries about the economic impact of the coronavirus pandemic.

The Fed said in a statement on Monday that it will purchase Treasury securities and mortgage-backed securities in the amounts needed to support smooth market functioning.

This means that the US central bank's asset buying program will go beyond the amounts it pledged to purchase on March 15.

Earlier this month, the bank slashed interest rates to near zero. But market uncertainty is still growing, as financial institutions are moving to hoard the US currency.

The latest move is seen as an attempt by the Fed to prevent the type of financial shock seen in the global financial crisis of 2008.

Key words : infection control
https://www3.nhk.or.jp/nhkworld/en/news/20200324_43/

An expert on infection control says Japan may have to consider locking down some of its large cities if the number of coronavirus cases surges around the country.

Professor Mitsuo Kaku from Tohoku Medical and Pharmaceutical University says infections are gradually rising in Tokyo and other cities. He says it's difficult to track down the individuals who transmitted such infections.

He made the comments in an NHK interview on Tuesday, a day after Tokyo Governor Yuriko Koike said the capital may have to take extreme measures including a lockdown if the virus spreads. She said she wanted to avoid that and called on people to take steps to avoid getting infected.

Kaku says outbreaks in the United States and Europe suggest large cities in Japan could also see an explosive increase in infections.

He says the risk of infection will grow when large public events resume. He says people can still carry out activities such as going shopping or taking a walk, but should avoid big gatherings.

He added that people should make sure they keep washing their hands regularly, wearing face masks and ventilating rooms.

Key words : world health warned rapid spread
https://www3.nhk.or.jp/nhkworld/en/news/20200324_24/

The World Health Organization has warned that the new coronavirus pandemic is accelerating and urged people to stay home to slow the outbreak.

The organization's Director-General Tedros Adhanom Ghebreyesus said more than 300,000 cases of the new coronavirus have now been reported from almost every country in the world.

Highlighting its rapid spread, the WHO said it took 67 days for the number of cases to reach 100,000; a further 11 days for 200,000 cases; and four more days to hit 300,000 cases.

Governments across the globe are now ramping up measures in response.

UK Prime Minister Boris Johnson has announced a strict lockdown. People will only be able to leave home for essential shopping or exercise. Police have the power to fine anyone who disobeys.

In France, Prime Minister Edouard Philippe said lockdown measures scheduled to end March 31 could be extended for several more weeks. French people who leave their homes must carry a form that explains why. Those who fail to comply face a fine of about 150 dollars.

Tightening restrictions further, the French government said that from Tuesday, people will only be allowed to exercise once a day within a kilometer of their home. He added that open-air markets should also close. As of Monday, France has confirmed nearly 20,000 cases and 860 deaths.

Lockdown measures are also in effect in New York State, where only people with essential jobs can go to work, leaving subway trains virtually empty.

Manhattan's SoHo district is also deserted. Some of its luxury brand stores and restaurants have been boarded up as a security precaution.

Egypt has also suspended inbound and outbound flights, while tourist spots, including the Pyramids of Giza, are closed.

One Egyptian store owner said the situation was worse than during the 2011 Arab Spring pro-democracy movement. He added that many businesses were unable to pay their employees.

Meanwhile, Italy reported more than 600 fatalities on Monday. Its death toll is now over 6,000, the highest of any country in the world. Globally, there are more than 330,000 cases of infection with over 14,000 deaths.

Key words : fashion goods
https://www3.nhk.or.jp/nhkworld/en/news/20200324_28/

Brewers and fashion goods makers in Europe are adjusting their production lines to resolve the shortage of supplies needed to deal with the new coronavirus pandemic.

Europe is now considered to be the epicenter of the outbreak. It is facing a serious shortage of items required to prevent the spread of infection, as well as medical equipment.

Major British distiller Diageo announced it will donate 2 million liters of alcohol, used mainly for vodka and gin, to manufacturers that produce sanitizers. They will be distributed to medical institutions in Britain and other countries including Italy.

Another British firm BrewDog said it is producing a sanitizer at its distillery for distribution to those in need. Belgian brewers have also started manufacturing disinfectants.

French luxury giant LVMH, the owner of Louis Vuitton, said it will use its distribution network to get facemasks from China. The company initially plans to offer 10 million masks to French health authorities.

Another French luxury group Kering, which runs Gucci among other brands, also announced it is preparing to make facemasks.

The British government has asked automakers to help make artificial respirators essential for the treatment of pneumonia. Some of the Formula One Grand Prix carmakers and engine manufacturers have expressed their intention to comply with the request.

Key words : Tepco
https://www3.nhk.or.jp/nhkworld/en/news/20200324_42/

NHK has learned that Tokyo Electric Power Company, or TEPCO, has drafted a plan for disposing of radioactive wastewater stored at the troubled Fukushima Daiichi nuclear power plant.

Water used to cool molten nuclear fuel from the 2011 accident is treated to remove most radioactive material. But tritium and other substances remain in the water, a huge amount of which is stored in about 1,000 large tanks.

A government panel last month compiled a report that says releasing diluted radioactive wastewater into the sea or air are realistic options.

TEPCO's plan for doing so would involve diluting the wastewater with seawater, aiming for a tritium level of one-fortieth that allowed by national regulation.

The firm would gradually release the diluted water over about 30 years, taking into consideration the amount of similar water released at other nuclear plants.

TEPCO would also test treating the wastewater again to further remove other radioactive materials.

The utility is to explain the plan to local officials and residents in Fukushima Prefecture. People in the local fishery and tourism industries oppose releasing the water into the ocean.