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Kyodo economic news summary -6-.

TOKYO, Oct. 20 Kyodo

---------- Daimaru's interim net profit falls 1.7% on restructuring costs

TOKYO - Daimaru Inc. said Monday it posted a consolidated net profit of 2.97 billion yen for the first half of the current business year, down 1.7% from a year earlier.

The Osaka-based major department store operator attributed the profit fall largely to a loss of 2.11 billion yen for the liquidation of affiliated companies as part of its operational restructuring aimed at cutting costs and improving the efficiency of management.

---------- Okuda warns of same FTA problems after failure with Mexico

TOKYO - The head of Japan's most powerful business lobby warned Monday that the failure of talks on a free trade agreement (FTA) between Japan and Mexico last week is a sign Japan is highly likely to face similar problems with other countries.

''The fact that issues could not be solved means we will be facing the same kind of problems over FTA with other countries, including South Korea and Thailand,'' said Hiroshi Okuda, chairman of the Japan Business Federation (Nippon Keidanren).

---------- Dollar falls back to lower 109 yen after turbulent session

TOKYO - The U.S. dollar returned to the weekend level in the lower 109 yen range Monday afternoon after a turbulent Tokyo session, with players nervous about developments in the Asia-Pacific Economic Cooperation (APEC) forum summit in Bangkok.

At 5 p.m., the dollar was quoted at 109.39-42 yen, little changed from Friday's 5 p.m. quote of 109.30-40 yen in New York. It stood at 109.80-82 yen late Friday in Tokyo.
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Publication:Japan Weekly Monitor
Date:Oct 28, 2003
Words:263
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