Japan Update

•Japanese Banks May No Longer Be So Aggressive Overseas• Coronavirus: Shortage of Chinese Auto Parts Shutters Plants, Hoya (7741) Idles HDD PartsFactories• DMG Mori Seiki

• Department Stores Report Double-Digit Decline in Lunar New Year Sales• Coronavirus: Massive Supply Chain Disruptions• Government Asks Mask Makers to Boost Production Department Stores

• Consumer Confidence Flat in January• Tokyo Stock Exchange to Narrow Spreads for 500 Shares• Fanuc (6954) Revises Up Full-Year Guidance Consumer Confidence Flat in

• December Core CPI Rises 0.7%• Macroeconomic Slide Invoked to Limit Pension Payments• BoJ Solicits Institutions Seeking Stock Borrow from ETFs• Toyota Motor (7203) Given

BoJ Raises Growth Outlook, Leaves Policy Unchanged—Nikkei Critical The Bank of Japan Monetary Policy Board ended its first two-day meeting of 2020 on Tuesday with

Tourist Arrivals from China Up, South Korea Down Japan National Tourist Organization (JNTO) released its official tourist arrivals data for December and for all of

10-Year JGB Yield Turns PositiveMrs. Watanabe Prepares to Short USDJPYDecember Economy Watcher’s Index RisesHonda Motor (7267), Isuzu Motor (7202) Jointly Develop Fuel Cell Trucks 10-Year

Tourist Arrival Growth Slows in 2019 Japan National Tourist Organization (JNTO) made a preliminary announcement of total tourist arrivals in Japan for 2019 showing 31,880,000

November Real Wages Fall 0.9% The Ministry of Health Labor and Welfare (MHLW) released real wage data for November 2019 on Wednesday. Real wages fell