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Kyodo economic news summary -4-.

TOKYO, Sept. 24 Kyodo

---------- SMFG ready to invest 100-300 bil. yen in Goldman Sachs: sources

TOKYO - Sumitomo Mitsui Financial Group Inc. is willing to invest 100 billion to 300 billion yen in Goldman Sachs if so requested by the largest investment bank in the United States, industry sources said Wednesday.

The Japanese banking group apparently intends to bolster its investment banking operations both at home and abroad by providing massive funds to Goldman, which is embroiled in the global financial turmoil, the sources added.

---------- FTC prods BHP Billiton to give info on takeover bid for Rio Tinto

TOKYO - Japan's antimonopoly watchdog again urged mining giant BHP Billiton Ltd. on Wednesday to submit information on its bid to acquire smaller rival Rio Tinto.

BHP Billiton has been rejecting the Fair Trade Commission's request to provide more information on the takeover bid on a voluntary basis, a top FTC official said.

---------- Nissan, Docomo, Sharp unveil cellphone with built-in car key

TOKYO - Nissan Motor Co., NTT Docomo Inc. and Sharp Corp. said Wednesday that they have jointly developed what they claim to be the world's first cellphone that doubles as an electronic car key.

New handsets featuring Nissan's Intelligent Key system will go on display at a trade fair from Sept. 30 and are expected to hit the market early in the fiscal year beginning in April 2009, the three firms' joint statement said.

---------- TEPCO, Mitsui to install large photovoltaic system at Haneda airport

TOKYO - Tokyo Electric Power Co. and trading house Mitsui & Co. said Wednesday they will install a large photovoltaic power generation system at a new cargo terminal building at Tokyo's Haneda airport.

The system will cover around 10 percent of power consumption at the terminal building that is scheduled to open in October 2010, they said.

---------- Tokyo stocks flat amid tentative mood over fate of U.S. bailout plan

TOKYO - Tokyo stocks ended almost flat Wednesday amid a tentative mood with investors awaiting the outcome of U.S. congressional wrangling over the implementation of the government's financial bailout plan.

The 225-issue Nikkei Stock Average closed up 24.44 points, or 0.20 percent, from Monday to 12,115.03, after briefly dropping below the 12,000 mark just recovered on Monday. Tuesday was a national holiday in Japan.

---------- Key 10-year JGB yield closes lower in tentative market

TOKYO - The yield on the benchmark 10-year Japanese government bond closed slightly lower Wednesday amid a tentative mood among investors over the implementation of the U.S. government's financial bailout plan.

In interdealer trading, the yield on the No. 296, 1.5 percent issue lost 0.005 percentage point from Monday's close to 1.480 percent. Tuesday was a national holiday in Japan.
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Publication:Japan Weekly Monitor
Date:Sep 29, 2008
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