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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 TV in Dec. on Japan market

TOKYO - Sony Corp. said Monday it will begin selling an 11-inch television employing organic light emitting diode 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 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 and 115.25-28 yen in Tokyo.
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Publication:Japan Weekly Monitor
Date:Oct 6, 2007
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