Kyodo economic news summary -5-.TOKYO, Oct. 1 Kyodo
---------- Panel eyes compiling FY 2008 budget policy in late Nov.
TOKYO - A key government economic policy panel plans to draw up the fiscal 2008 budget compilation policy in late November, economic and fiscal policy minister Hiroko Ota said Monday.
The Council on Economic and Fiscal Policy will meet Thursday evening for the first time under the administration of Prime Minister Yasuo Fukuda to discuss ways to revitalize the Japanese regional economies, Ota told reporters.
---------- New car sales in fiscal 1st half drop to 33-year low
TOKYO - Domestic sales of new motor vehicles in the April-September first half of fiscal 2007 fell to a 33-year low of 1,588,366 units, down 8.8 percent in the second consecutive year-on-year fall, an industry body said Monday.
The drop in sales, which excluded minivehicles with engine displacements of up to 600 cc, was led by a 15.4 percent fall in sales of small passenger cars to 746,297 units, the Japan Automobile Dealers Association said.
---------- Sony to launch world's 1st OLED (Organic Light Emitting Device, Organic Light Emitting Diode) A thin film light-emitting technology that is expected to compete with LCD and plasma TVs as well as LCD monitors and readouts. TV in Dec. on Japan market
TOKYO - Sony Corp. said Monday it will begin selling an 11-inch television employing organic light emitting diode See LED. technology from December in Japan, the world's first commercial debut of an OLED TV amid fierce competition in the consumer electronics industry for the development of next-generation displays.
Sony said the OLED TV, featuring a 3-milimeter-thick display, will be launched on Dec. 1 with a suggested retail price of 200,000 yen, or around $1,700.
---------- Dollar rises to mid-115 level on mixed Tankan results
TOKYO - The U.S. dollar rose to the mid-115 yen level Monday in Tokyo as mixed results of the Bank of Japan's Tankan survey Tankan Survey
An economic survey of Japanese business issued by the central Bank of Japan, which it then uses to formulate monetary policy. The report is released four times a year in April, July, October and mid-December. spurred concern over the health of the Japanese economy and as anxiety over the rising euro stalled the trend for dollar selling.
At 5 p.m., the dollar was quoted at 115.53-56 yen, compared with Friday's 5 p.m. quotes of 114.78-88 yen in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and 115.25-28 yen in Tokyo.