Datsun Comes one Step Closer to Launch in India, First car by 2014

Japanese auto major, Nissan has today announced the selection of TBWA Worldwide as the global agency of record for the Datsun brand. In March 2012, Nissan announced that the Datsun brand would return to usher in modern, reliable and accessible products for optimistic, up-and-coming customers in high-growth markets. Embodying this aspiration, and equipped with modern technology to assure an engaging driving experience, Datsun vehicle sales will commence in India, Indonesia and Russia in 2014.


The selection of its global agency marks an important step in the Datsun brand's development as it nears the launch of the first new vehicles. "Datsun" was the name of the Japanese brand that was marketed worldwide from the early years of Nissan throughout the company's rapid growth in the early 1970s and its globalization in the 1980s. Generations of customers coveted the contemporary styling, modern engineering, durability and reliability of Datsun vehicles. The Datsun brand was phased out from 1981, and after this the Nissan name was used as the company expanded globally.

Vincent Cobee, corporate vice president and global head of the Datsun Business Unit, said, "The company is counting on the Datsun brand to once again resonate with consumers in high-growth markets who seek attractive styling, an accessible price and - above all - an engaging driving experience.

"The choice of brand name was obvious. The Datsun brand remains in our portfolio as one of the most cherished brands in automotive history. And the connection between the Datsun of today and the Datsun of yesterday is authentic. Just as consumers in the 1930s, 40s and 50s wanted high-quality, durable and reliable vehicles, potential customers in high-growth markets -- who today have so few choices -- are eager for such vehicles. We are confident that the new Datsun will meet these expectations," Cobee continued.

Datsun will introduce the first product of the new line-up in mid-2013, and the first vehicles will go on sale in the 2014 model year. TBWA Worldwide will set up a dedicated Datsun team to run strategic and creative operations from London. Its Tokyo affiliate, TBWA HAKUHODO, will provide operational support to the Datsun team in Japan.

Tom Carroll, President & CEO at TBWA Worldwide, said, "To win an automotive account is always an honor, but when that involves the return of such an iconic brand, it is truly inspiring. The world is changing and we take tremendous pride in having been chosen to help Datsun engage the rising markets of Russia, Indonesia and India. We look forward to taking Datsun's great brand heritage forward and bring new value to our future customers."

Over 30 lakh Suzuki Swift Sold Worldwide; 13.5 Lakh plus in India

Ever since the Japanese auto major, Suzuki Motor Corporation launched Swift- its first global strategic model in Japan in late 2004, it has never looked back, the car has been a huge success worldwide including India that received the vehicle in 2005. In fact India accounts for 45% of the total Swifts sold globally. And what has helped it do so well is a blend of eye-catching good looks, Japanese quality and European inspired driving dynamics to the compact car segment.



Those attributes are still as strong today and Suzuki is pleased to announce that global sales have now passed the three million mark – exactly two years since the celebration of two million units. Since launch in the UK in May 2005, more than 80,000 Swifts have been sold and it accounts for around 36 per cent of the UK sales mix.

Swift is global in outlook and production – it was first built in Japan, followed by Hungary, China, India, Indonesia and Malaysia and more recently production began in Thailand; vehicles sold in Europe are built at Suzuki’s established Magyar plant in Hungary.
Globally, around 13 per cent of Swift sales are in Japan, 45 per cent in India and 23 per cent in Europe with the remainder from other world markets; Swift is driven in 125 Countries and regions of the world and has won 67 awards in 26 Countries.

Swift is available in three and five door body styles and offers very low cost of ownership with CO2 emissions of just 109g/km for the 1.3 DDiS model and 116g/km for the 1.2 petrol engine with manual transmission. Swift has a Five star Euro NCAP rating and scored 94 points for Adult occupancy protection at launch in 2010 – the highest of vehicles tested at the time.
The distinctive styling and spacious interior are complemented by a comprehensive specification. As standard equipment, all models feature seven airbags, ESP, radio/CD player with USB port, remote central locking and immobiliser, electric front windows, electric and heated door mirrors and steering wheel-mounted audio controls.

Japan PM to change post-war constitution

Japan's hawkish Prime Minister Shinzo Abe told parliament on Thursday that he intends to change the country's post-World War II constitution, lowering the bar for further amendments.

  "I will start with amending Article 96 of the constitution, a move that many factions (inside his Liberal Democratic Party) support," Abe told upper house lawmakers,referring to the clause stipulating amendments require a two-thirds majority in parliament.

In the run-up to his landslide election victory in December, Abe said he wanted to study the possibility of altering the definition of Japan's armed forces contained in the document.

The country's well-funded and well-equipped military is referred to as the Self-Defense Forces, and barred from taking aggressive action. Its role is limited to defence of the nation.

Abe has said he would like to look into making the SDF into a full-fledged military, a plan that sets alarm bells ringing in Asian countries subject to Japan's sometimes-brutal occupation in the first half of the 20th century.

 US occupying forces imposed the constitution in the aftermath of World War II, but its war-renouncing Article Nine is held dear by many Japanese.

Honda developing CBR400R for India

That headline is sure to give Honda's Japanese competitor Kawasaki some jitters. Honda Japan has officially unveiled a 400cc engine based on the new CBR500R 's architecture specially for the domestic and Southeast Asian markets. The 470cc parallel-twin liquid cooled motor retains its 67mm bore but downsizes the stroke to 56.6mm for the new 400. Though power figures haven't been released yet, it is expected that the CBR400 will make around 40-42PS, similar to the Ninja 400 .


The engine while being visually identical to the 500 will also share cases, clutch and generator covers with its bigger brother. Honda claims that they have focused on getting a linear power band for the 400 which means like the 250R , performance will be user friendly and easily accessible. Which also brings to fore the fact that the 400cc engine may also be plonked into different body styles just like the 500 . How is this of any significance to the Indian market? You see, the trend is now shifting from 200-250cc machines to the 300-500cc capacity with KTM and Bajaj both in the fray to launch the Duke and Pulsar, not to forget the Ninja 300 /400 here. With Honda entering into the battle, it will be a win-win situation for the customers - aggressive pricing and better quality.

Japan's Ricoh sets up research centre at IIT Gandhinagar

Japan's multinational imaging and electronics company, Ricoh will set up a Design and Innovation Centre (DIC) at the Indian Institute of Technology Gandhinagar (IIT-Gn). The centre will engage in various projects of finding innovative solutions and designing technologies and services that can be deployed in the Indian market.

As a part of an agreement, apart from funding the DIC, Ricoh will also be taking part in joint research projects at the centre. The centre will have designers from Ricoh, who will be working on various projects along with the students of IIT-Gn. The partnership has been initially planned for three years beginning from April 1, 2013.

"This partnership with Ricoh will enable the students and faculty of IIT-Gn to work with the colleagues from Ricoh in an inter-disciplinary and an inter-cultural environment, which is most conducive for design and innovation," said Sudhir Jain, director of IITGN.

Japan’s rush into Myanmar snags on land ownership issues

If Japan’s plans to develop a massive industrial complex in Myanmar push ahead, Win Aung’s village will be cut in half, his cottage and ricefields razed.

The 39-year-old is one of hundreds of farmers who make their living off rice paddies earmarked for the Thilawa economic zone, a project that has become the centrepiece of Japanese investment in Myanmar.


Win Aung, who supports a family of 12 by farming 30 acres, says he was forced to sell his land at $20 per acre to Myanmar’s military junta in the 1990s. The government did not take over the land, but is now demanding the villagers vacate to make way for the Japanese.


That puts the matter in a grey area – the villagers are asking for extra compensation but the government has refused, although prices around Thilawa are between $10,000 and $20,000 per acre.

“There’s no way we can afford a single acre here now,” Win Aung told Reuters. He and other villagers said they were hoping the quasi-civilian government, which took over almost two years ago, would negotiate.

After decades of military dictatorship, issues like land rights are a minefield for foreign companies looking to take advantage of the opening-up of the Southeast Asian nation. Japan, seeking to fend off Asian rival China from getting entrenched in Myanmar, is one of the biggest investors.

But there are signs that Japan may tread cautiously now, although it is not clear what action it can take in cases like that of Win Aung and the Thilawa villagers.


Land rights matters have become an inflammatory issue in Myanmar after riot police raided residents protesting against expansion of a copper mine onto farm land last year, unleashing nationwide outrage.

“I have never seen anything like Thilawa before,” said Takeharu Kojima, a Myanmar expert at the Japan International Cooperation Agency. “It will be very difficult to resolve, as land issues are always hotly debated when we help build infrastructure abroad.”

Behind the scenes, local officials have pushed Japan to help settle the land rights issue by putting up money for compensation for farmers like Win Aung, but the Japanese have been reluctant to get involved.

“As a private Japanese company, we have nothing to do with it. It’s up to the government of Myanmar to clear the land,” said Takayoshi Nakao, who runs Marubeni Corp’s operations in Yangon.


THREE YEARS TO GO


Less than three years before the planned opening of the Thilawa zone, a fifth of the 2,400 hectares earmarked for Japanese factories is still occupied by farmers like Win Aung, a source familiar with the plans said.

Japanese trading houses Marubeni, Mitsubishi Corp and Sumitomo Corp are completing preparations for the first 440 hectares of development of the Thilawa zone. The Japanese government has pledged to provide cheap loans to pay for the infrastructure around the zone, an investment estimated at more than $11 billion.

Japanese manufacturers who could set up shop in Thilawa include Suzuki Motor and Honda Motor, which have shown an interest in opening factories in Myanmar.

Thilawa is a 30-minute drive from Myanmar’s largest city, Yangon. The military junta tried to build a business park there in the mid-1990s and forced farmers to sell the land at a discounted price, a Myanmar government source and local villagers said.


But after the investment fell through, it left them undisturbed, they said.

“We didn’t hear from anyone for nearly two decades,” said Win Aung, as he rested in his field.

“People didn’t really know what they were signing and even if they had known, they wouldn’t dare to protest because they were talking to the government with guns,” he said, his teeth rust-red from chewing betel nut.

Win Aung and other villagers from Phalan, a settlement of 350 households, sent a letter to the government demanding fair compensation. They say they have not been consulted about the timing of Japan’s investment or informed about when to move out.


“I don’t think they would be this bold under the previous government. It’s because we have democracy now why they were brave enough to write the petition,” said Myint Thu, the Phalan village chief.

Meanwhile, rich Burmese speculators have bought up land around Thilawa, a development that could delay the opening, initially planned for 2015, people involved in the project and local residents say.

Land around Thilawa has been quoted between $10,000 and $20,000 per acre, said a Myanmar government source involved in the development of Thilawa. Japanese officials and business executives worry that will make it more difficult to build roads and bridges and other infrastructure.


The Thilawa project is being coordinated by one of the wealthiest men in the country – also called Win Aung and nicknamed Dagon after the name of his company – who is also on the U.S. sanctions list because of his close ties to the repressive military junta that ruled Myanmar for nearly 50 years.

“Dagon” Win Aung, no relation to the Thilawa farmer, made his fortune exporting timber and running construction projects including the development of Myanmar’s capital, Naypyitaw. He said he is confident the Thilawa project will press ahead as planned.


“Thilawa will be a great success. I’ll organise the consortium and make sure that the project is beneficial for the people,” he told Reuters earlier this month in Yangon.

The villagers are hoping they can replicate their life elsewhere, but not too far away from where they live now.

“I understand I have to leave my land here – I only want to be able to buy a similar plot somewhere close.” said Win Aung, the farmer. “Farming is the only thing I know in life.”

Japan set to lend Rs 8,000 cr for Pune Metro

Non-profit organisation Association of Friends of Japan and Pune Municipal Corporation confirm there's an open offer; maintain that a final decision will have to be taken by the governments of the two countries.

With a price tag of Rs 15,000 crore, the proposed Pune Metro rail project is an ambitious venture, as well as a pressing one. While the pieces of the puzzle seem to be falling into place, with the centre earlier this month promising to make a provision for the undertaking in the union budget for the
next financial year, collation of funds appears to be a challenge — or at least it did, till recently.

Getting on track: First line of Pune Metro will run from Pimpri-Chinchwad to Swargate, and is likely to be further extended to Nigdi and Katraj/Hadapsar. This route will go via Bhosari, Khadki and Shivajinagar. representation Pic/Thinkstock

“The Japanese finance ministry is ready in principle to lend Rs 8,000 crore for the project. Details of the rate of interest and other factors will be finalised later if PMC agrees to the offer,” Sameer Khale, president, Association of Friends of Japan (Pune Branch) told MiD DAY. 
AFJ is a non-profit organisation that works mainly towards helping promote businesses and cultural relations between the two countries. Khale said he had gone to the Japanese embassy in Delhi a month ago to discuss the project and funding and had received a positive feedback. 
“Japan and Pune have shared friendly ties for years. The Japanese government is not only willing to provide money, but also technical support if required. The funds will be released via Japan International Cooperation Agency (JICA). The contract will be formulated by Government of India and Government of Japan. PMC will not be directly involved in the process,” Khale said.

In good hands: Detailed project report  work for Pune Metro was done by Delhi Metro Rail Corporation. File Pic

He added, “Earlier, the island nation had invested a relatively small amount of money and expertise in developing the Okayama Garden in Pu La Deshpande Udyan on Sinhagad Road. The Japanese government has also bankrolled projects for Maharashtra Tourism Development Corporation and Maharashtra State Electricity Distribution Company Limited (MSEDCL) in the past.”
Municipal Commissioner Mahesh Pathak, said, “There is an open offer and there is no harm in acquiring a loan from a country like Japan, which usually charges low interest rates. The only problems that we sometimes have to face are because of the fluctuating currency exchange rates.
The last word on this will be spoken by chief minister Prithviraj Chavan and union urban development minister Kamal Nath. Though, we had forwarded the proposal for 16-km Metro corridor from Vanaz (Paud Road) to Ramwadi (Ahmadnagar Road) for union cabinet approval, work can’t start immediately because of the lack of provisioning of funds.” 

Japanese PR agency Ozma enters India in pact with Mileage Communications Group news

Ozma Inc. of Japan and the Mileage Communications Group have signed an exclusive partnership to provide public relations support services in Asia excluding Japan.
Ozma, a 50-year old company, is a fully-owned subsidiary of Hakuhodo Inc, Japan's number two advertising agency.  It provides public relations consultancy services to prominent private enterprises, government bodies and public organisations in Japan and abroad. 

Nobuyuki Sakai, president and CEO of Ozma Inc, said in a statement, ''We have many Japanese companies who need PR support outside Japan.  The Mileage Communications Group with its network of 12 offices in China, India, Indonesia, Malaysia, Singapore, Thailand and Vietnam, provides a perfect platform for Ozma Inc to leverage on them.''
This combination is targeted at deriving business from Japanese companies expanding in the region.

statement from Mileage said, "The new partnership will benefit Japanese companies which will enjoy the strategic guidance of Ozma Inc and the local inputs on public relations initiatives and communications from the Mileage Communications Group." 
Yap Boh Tiong, chairman of Mileage Communications Group, said, ''The Mileage Communications Group is privileged to collaborate with Ozma Inc. and is confident of a successful and enduring partnership as both companies share the same philosophy of treating clients with trust and integrity, adding value and providing quality service.''
The first joint assignment undertaken by the two communication houses is the recent opening of Roland DG Corporation's manufacturing plant in Bangkok by Mileage (Thai) Co. Ltd.  Roland DG is the world's leading manufacturer of wide-format inkjet printers for sign and display markets.

Sunil Puri, managing director, Mileage Communications (India) Pvt. Ltd, said, ''Japanese companies have been investing and operating in India over the years.  We certainly welcome more investment and expansion activities.  We are delighted to play our part to create awareness and publicity for such companies.''

Isuzu to setup plant in India

Japan's Isuzu confirms India plans and zeroes in on greenfield plant in Andhra Pradesh with an investment of Rs 1,000 crore

Japanese utility vehicle maker Isuzu Motors has firmed up its India plans with a manufacturing plant in Sri City, Andhra Pradesh. Isuzu will invest nearly Rs 1,000 crore in the greenfield plant that can make nearly 50,000 vehicles a year. 

The India-specific announcement is expected on March 15 in Hyderabad. The plant will be ready for commercial production by 2015 and till then, the Japanese manufacturer will use the Hindustan Motors’ Chennai car plant at Tiruvallur and General Motors’ facility. 

“The initial plan is to roll out MU7 Choiz (a sports utility vehicle sporting a 3.0-litre engine) and V Cross, a 2.5-litre engine, mounted pick-up,” sources said. 

Isuzu could not be reached for comment. 

The homologation –– the process of certifying that a particular car is roadworthy and matches certain specified criteria laid out by the government for all vehicles made or imported into the country ––was completed a few weeks ago at ARAI in Pune. 

Isuzu is known for its leadership in diesel technology. Its global product portfolio comprises of heavy-, medium- and light-duty trucks, buses, passenger vehicle engines, industrial-use diesel engines. 

It will, however, concentrate on pick-ups and SUVs in India. Isuzu had offered its utility vehicle ‘Panther’ to General Motors to be rebadged as Chevrolet Tavera in India. The company’s diesel engines were mounted on Hindustan Motors’ Ambassador and Contessa. 

Sri City, though located in Andhra Pradesh, is just on the outskirts of Chennai. Isuzu will use the near shore advantage of Chennai’s auto parts ecosystem to build its plant and India business. 

“Andhra Pradesh is desperate to get an automotive factory. Remember the failed Vashishta Wahan, which was supposed to be an Indian arm of Volkswagen, but turned out to be a fictitious entity. They are going all out for a car plant, but nothing happened. Even with Isuzu, the original announcement was due in December-end, but has since been postponed to March,” sources said. 

2013 Honda CR-V SUV India launch on 12th Feb 2013?

Honda Cars India has confirmed that the new CR-V SUV will be launched in the country next month. The fourth generation 2013 Honda CR-V comes in with better body rigidity, higher level of fuel efficiency, enhanced usability and less weight.

The new CR-V is 122 kgs lighter than the outgoing model. Based on the same platform as its previous generation CR-V, which was launched in Japan in 2005, the new Honda CR-V is being offered in a multi link rear suspension design.

 

2013 Honda CR-V is a five seater and is modestly sized when viewing it from its exterior while internal space is at a premium. Where pricing is concerned, Honda Cars India is expected to price the new CR-V at a lower price, compared to the outgoing variant, reports MotorBash. Even with the launch of the new CR-V, India wont get the diesel option as only petrol variant will be on offer.


Honda India wants to position the upcoming 2013 CR-V so as to see marked improvement in sales as compared to the current generation model. The CR-V available in India is being imported from Japan.

 

Sony’s 10 inch Xperia Z tablet

The company has officially announced the tablet that will go on sale in Japan in spring 2013. Details regarding pricing as well as availability for other markets are currently unknown. The Xperia Tablet Z sports a 10.1 inch screen with full-HD display. It runs on Android 4.1 and packs in a 1.5 GHz quad core Snapdragon S4 Pro processor. The tablet comes with 2GB RAM and 32GB of internal storage, which can be expanded further by a microSD card. At 6.9mm, the Sony Xperia Tablet Z is currently the slimmest tablet around and weighs 495 grams. Sony also claims that this tablet is waterproof and rustproof and has an 8 megapixel rear camera and a 6,000mAh battery. For connectivity, the Xperia Tablet Z supports NFC and LTE. It will be available in black and white colour options.

Sony had launched its Xperia S tablet in 2012, which too was a waterproof. The company had to stop sales of this device in early October after discovering a defect in it. The Sony Xperia Tablet S is a 9.4 inch tablet that runs on NVIDIA’s Tegra 3 quad core processor and was available in 16 GB, 32 GB and 64 GB versions. There is an 8 megapixel rear camera and 1 megapixel front camera and the tablet runs on Android Ice Cream Sandwich. The company resumed selling this tablet from mid November but is it yet to be made available in India.

Features  of  Sony’s 10 inch Xperia Z tablet

• 10.1 inch full-HD display
• 1.5GHz quad core Snapdragon S4 Pro
• 2GB RAM
• 32GB internal storage
• 8-megapixel rear camera
• NFC and LTE support
• 6,000mAH
• Android 4.1
• 495 grams

Wealthy people in Japan and India face tax increases

The governments of Japan and India are considering ways of making rich people pay more tax.
For the government in Tokyo it would help to address its fiscal position of having the largest public debt in the world.

Meanwhile, India wants to make very wealthy people pay more tax, especially those who inherit a family run business empire.
BBC correspondents Yogita Limaye in Mumbai and Rupert Wingfield-Hayes in Tokyo, explain the economic strategies behind the drive to increase taxes for rich people.

Maruti Suzuki mulls India's first small hybrid car

The country's largest carmaker Maruti Suzuki is mulling India's first small hybrid car that would have both electric and petrol options. The proposed small car is being co-developed with engineers from Suzuki Japan, Reports CNBC-TV 18’s Ronojoy Banerjee.

Two very senior officers in the company confirmed the development. They said that the project is still at a very nascent stage. Hence they were not able to give a precise timeline. However, they said that the company was seriously gauging the viability of introducing such a vehicle for the Indian markets.

This is an interesting development because traditionally Maruti is not seen too enthused about the whole concept of electric vehicles. They have taken a stand that India is a path starved country and electric vehicles will only add to it. So, while their stand on this issue may not have changed, they feel that hybrid vehicles which will have both fuel as well as electric options are the way forward.

Now, the big challenge will be how one will offer hybrid technology at a lower cost. We have seen cars like Toyota’s Prius which is well above Rs 10 lakh, which is what Maruti wants to change. It is being developed along with engineers from Suzuki. However, the company is officially maintaining, that they do not comment on future products.

Power shortage, a worry for Japanese investors in TN

Infrastructure deficiency, low transparency in systems and procedures and inconsistent policy were the major concerns of Japanese companies considering investments in India, according to Masanori Nakano, Consul-General of Japan in Chennai.

India is second only to China globally as an attractive destination for overseas investments by Japanese companies in the medium term.

But the survey of over a 1,000 companies by the Japan Bank for International Cooperation showed nearly half of them were concerned about the infrastructure deficiency in India, apart from the lack of transparency in rules and regulations, complicated tax system and shifts in policies, Nakano said.

Infra projects

Gujarat, after Tamil Nadu, is attracting keen interest from Japanese investors. In the southern State, the power shortage is a serious issue driving up costs for investors.

The Japan International Cooperation Agency has completed a preliminary study of infrastructure needs, with focus on power and transportation, in the Chennai-Bangalore industrial corridor.

Japanese companies are keen on partnering with India in infrastructure projects, said at a meeting on infrastructure business cooperation between Japan and Tamil Nadu.

Port facilities

M. Velmurugan, Executive Vice-Chairman, Tamil Nadu Industrial Guidance and Export Promotion Bureau, said the State has charted out plans to double its present capacity of about 18,000 MW of power generation over the next five years.

From the middle of this year, the power shortage would be addressed.

Chennai has three major ports in close proximity including the L&T Port at Kattupalli to the North where over 1.2 million TEUs of container capacity is available.

With car exports taking off from Chennai ports, a multilevel car park with RORO facility is being planned on DBFOT basis, he said.

Shinya Fujii, Director-General, Japan External Trade Organisation, said the port at Kattupalli is a welcome addition to the port infrastructure for Japanese companies looking at exports.

The private port will be competitive in terms of usage costs as compared with the public sector ports – the Chennai Port and the Ennore Port, he said.

But the road connectivity is as much an issue as it is to the Ennore Port as the companies use the same roads. It is up to the State Government to upgrade the linkage, he said.

John promotes Yamaha at motor show

The Bollywood hunk was present at the stall representing India Yamaha Motor showcasing Yamaha Ray scooter, the Moto GP inspired R15 bike, the legendary VMAX along with a line-up of the latest products and accessories from Yamaha.

Abraham's association with the company has significantly enhanced its brand image.

The motif at the Yamaha booth was in sync with the concept adopted by the company this year based on 'Yamaha Global DNA' and the message being 'Excitement'.

The Yamaha racing genre and the flagship model, R15 further added to the thrill the product line ups exuded.

The company’s premium scooter-the Ray met with a stupendous response from critics and consumers alike.

The trophies parked in the stall bore testimony to the fact that the Ray is here to stay.

The Ray was launched with great aplomb in Hyderabad in September 2012.

Ray’s brand ambassador, Bollywood actress Deepika Padukone has been instrumental in boosting the image of the company especially among young girls and women.

Both John and Deepika who are youth icons represent the prototype which the company strongly believes in- “good-looking and cool”.

Speaking on the occasion, National Business Head, India Yamaha Motor Pvt. Ltd., Roy Kurian said, “Yamaha has always been a committed player in the two-wheeler market and makes consistent efforts to adapt to market demand by launching exciting products year-on-year."

Kurian said, "I am extremely happy that Ray has been well received and looking at the current market scenario where the scooter segment is growing tremendously, I am positive that Ray will be able to hold its ground as the number one scooter in the country. Similarly, our bikes are equally special to us."

"A lot of thought and hard-work goes into our products and we prioritize our customers’ needs above everything else. Having said that, I extend my gratitude towards our loyal customers and channel partners who have played a key role in our consistent growth in India over the years.”

Nomura axes India infra plan, top execs lose jobs

Buffeted by adverse market conditions and a crippling economic slowdown, Japan's largest brokerage and investment banking firm Nomura Holdings has abandoned plans to float an India-specific infrastructure fun, forcing the company to ask four very senior executives to quit the firm.
Three of the executives were based out of India, while the fourth is based in the Singapore office of the Japanese financial advisory company, which acquired failed US-investment banking giant Lehman Brothers' Asia Pacific operations in September 2008.

An official spokesperson of Nomura declined to comment on the exit of the four director-level executives who were specifically hired two years ago to launch and manage a committed infrastructure fund in India.

"Nomura has decided to shelve its proposed plan to launch an

infrastructure fund and therefore the people hired for the purpose have been asked to look for other opportunities," a source told HT on Thursday.
In the last 12 months several top-level executives have quit the company for various reasons including what some analysts have described the company's effort to merge the operations with the Wall Street icon that filed for bankruptcy in 2008, triggering the world economy's worst slowdown in eight decades.
About a year ago, two of Nomura's seniormost executives - Tarun Jotwani, global markets head and Jasjit "Jessi" Bhattal, wholesale banking unit chief - had quit the company. Both Bhattal and Jotwani were former Lehman Brothers executives, who had moved to Nomura.
While Nomura had absorbed 3,000 employees working in the erstwhile Lehman Brothers' operations in Mumbai, a source told HT that it has been a rocky marriage and there have been issues relating to "work culture."
A senior executive at Nomura, however, told HT that India continues to be a key market for the firm. "We were toying with the idea of launching an infrastructure fund, we had not launched it and we are not alone. There are several firms which have had to withdraw their expansion plans due to market conditions."
The official did not comment on whether the firm would reinitiate its plans to launch the fund once market conditions improve.

Japan to look into auxiliary battery of ANA's Dreamliner

The Japanese authorities today said that they will conduct an analysis of a battery for the auxiliary power unit used in Boeing's 787 Dreamliner that made an emergency landing in Western Japan last week.
It comes after an All Nippon Airways ( ANA) 787 had to make an emergency landing due to a battery malfunction.

Japanese and US transport authorities are currently looking into the main battery of the ANA plane that caught fire.

The battery for the auxiliary power unit was intact, but the safety board decided to review the two batteries -- both made by GS Yuasa Corp.
An electrical fire that caused smoke in the cabin of another Dreamliner jet operated by Japan Airlines Company in Boston earlier this month originated from a battery for the auxiliary power unit.
Analysis of the main battery of the ANA jet continued today at a Tokyo facility of the Japan Aerospace Exploration Agency.
Following a CT scan of the charred battery, it will be sent to GS Yuasa for detailed scrutiny, the safety board said.
Together with inspectors of the US National Transportation Safety Board, officials of Thales SA, a French military aircraft builder that designed the 787's electrical system, also observed the analysis at the request of French aviation safety authorities.

Meanwhile, the Japanese Land, Infrastructure, Transport and Tourism Ministry and the US Federal Aviation Administration continued their probe into GS Yuasa for the third straight day.

US and Japanese authorities had earlier begun a joint investigation into GS Yuasa, the Japanese battery maker for Boeing's troubled 787 Dreamliner aircraft.

Japanese cos keen on investing in India but want stable policy

For many Japanese companies, India represents the future but some obstacle need to be removed before they start "meaningful investment" here, an envoy said here today.

Economic Minister at Embassy of Japan Tamaki Tsukada cited a quote from Japanese technology giant Hitachi that "Japan in the past, Thailand now, India in future" to express the interest of Japanese companies in India.

"This shows production base is actually shifting. They are looking to future in India," Tsukada said while speaking at Electronics Manufacturing Industry round-table organised by industry body Assocham.
"They perceive India as very promising base for exports. There are very important promising conditions developing in India. So, we need to develop this robustly," he said.
The diplomat further said that there are some obstacles that "we need to remove before we embarking on some meaningful investment".

He said uncertainty in policy matters is an issue. "This is one of the basic conditions for investors to make long term investment. If there is uncertainty, there will be no investment," the diplomat said.
Tsukada raised the issue of desktop personal computers and Dot matrix printers coming under the list items under preferential market access policy---giving preference to domestic products in government procurement.
"Preferential Market Access policy....The desktop PC and Dot matrix were listed in notice without consultation with industry and some industries have complained that this was rather abrupt and they wanted some time," he said.
The Japanese diplomat also said that some electronics product standard issued by government "were little unfriendly to industry. "We wish to raise here the need for sufficient transition period to adjust to new regime," he said.
Department of Electronics and Information Technology (DEITY) in September 2012 made registration of electronics product in 15 categories mandatory before being sold in the country.

DEITY
Joint Secretary Ajay Kumar said that Indian government's policy on electronics is a result of recommendations from Industry and government started consulting the policy draft from 2011 onward.
"The policy ( National Policy of Electronics 2012) is a creation of industry task force. The draft of the policy has been discussed since 2011 onwards," Kumar said.

He added that after wide consultations, the final policy approved by the government is legally sound and stable.
Government is expecting investment of Rs 25,000 crore in the Indian electronics sector during this calendar year.

Sony Xperia Tablet Z Announced in Japan. New Flagship For Sony?

Sony has announced the launch of its Xperia Tablet Z according to an Engadget report. The Sony Xperia Tablet Z reportedly has a 10.1 inch display screen with a resolution of 1920x1200 pixels and has a 1.5GHz quad core processor. If the screen resolution being higher than the usual of 1920x1080 is true, that would mean movies/games would be letterboxed, and apps would look slightly stretched.

Sony Xperia Tablet Z runs on the Android 4.1 operating system and an 8MP rear camera is also expected.

The tablet has been unveiled after the Sony Xperia Z smartphone, which was announced at the recently concluded CES 2013. The Sony Xperia Z phone is Sony's flagship smartphone, going by its features and specifications.

Going by its rumoured technical specifications and keeping in mind tablets of similar range, the Sony Xperia Tablet Z might jusyt be Sony's flagship tablet. Click here for full technical specifications of the Sony Xperia Tablet Z.

A notable aspect in the device is said to be Sony's new feature called “S-Force front surround 3D” which is touted to provide quality multimedia experience. Another feature of the gadget is that it is claimed to be waterproof as well as dust-proof that could give it another edge.

According to reports, Sony will launch the tablet in Japan this year and later in other countries. At this stage, we don't have details of the India-launch timing, or the Rupee price tag of the Sony Xperia Tablet Z.

It would be interesting to see how the Xperia Tablet Z performs in the presence of devices like Google Nexus 7. which are currently available in the market and are taking gadget lovers across countries by storm. 

India ranks 12 in global innovation index; Germany, Japan in lead

The overall environment in India is perceived as being conducive for innovation by business executives from 25 countries across the world, a report said.

According to the GE’s annual Global Innovation Barometer report, 55 percent of business executives from the 25 markets regard the Indian environment for innovation as strongly ‘innovation conducive’.

This puts the country in the 12th position of the country ranking based on this indicator. The perception is even higher among Indian executives as 58 percent of Indian business executives report that their country has a strongly innovation conducive environment overall.

According to the report, policy environments in Germany, US and Japan perceived as most innovation conducive by their peers. An overwhelming 85 percent of respondents believe that understanding the customers and anticipating market evolution is the key to innovating successfully in India.
Innovation is a strategic priority for business in India as 94 percent of respondents recognise and accept innovation as the urgent need for business, it said.

The society as a whole is supportive of innovation and there is an increasing appetite for innovation particularly among young generations, it added.

Indian businesses expect renewed support and incentives for innovation from policymakers, particularly regarding education. About 70 percent of respondents want to encourage a stronger entrepreneurial culture in the education system through stronger linkages between students and business savvy individuals.
The report further said the items connected to government support are more negatively evaluated than other items by the respondents. The GE Global Innovation Barometer was commissioned by GE and conducted by research and consulting firm, StrategyOne and covered 25 countries across the world.

Kolkata kids, ladies enjoy Yamaha ride

A two day mega event was held by India Yamaha Motor Private Limited (IYM) here to boost up the power packed riding training programme for kids and women along with men on Saturday.

More than 1500 customers all across the city participated in the riding fever comprising of school children, adventurous men and women at the event with other activities by IYM for the customers.
Over 800 females took part and got trained by the experts in Yamaha Female Riding Training (YERT) programme which was earlier this month successfully introduced in Chennai with young women trying their hands in motor riding training.

Besides, kids from four prominent schools from all over the city are enlisted to take part in the Yamaha Safe Riding Science Programme (YSRS) to be ensured about the safety measures while riding bike for future abiding by the signals and road rules.

The Director of Sales and Marketing of India Yamaha Motor Private Limited Jun Nakata said : “Yamaha has always been an ardent supporter and believer in spreading awareness about safe riding training and techniques. Through the YSRS and YERT campaigns we are trying to reach out to the young kids and women and educating them about the various mances of riding.”
"We are eyeing more than10% market shares in the scooter sector, which is much appreciable," Nakata said.

Odisha artist to carve snow Ganesh in Japan

Indian sand artist Sudarsan Pattnaik Sunday said he would create a sculpture of Lord Ganesh on snow in Japan next month.

"I am the only artist from India to have been selected to participate in the 40th International Snow Sculpture Contest that will start from Feb 3-8 at Sopporo, one of the largest cities in Japan," Pattnaik told IANS Sunday.

Artists from 12 other countries including Indonesia, Singapore, Sweden, Thailand, Taiwan, Daejeon (Korea), New Zealand, Hawaii, Portland (US), Malaysia, Finland and Chile are expected to participate, he said.
Lord Ganesh is widely revered as the lord of learning, wisdom and success and remover of obstacles. I am going to create his image bearing a message on world peace, Pattnaik said.

The height of sculpture will be three meters and it will take four days to complete it. Two of my students Badal Tarai and Bulu Mohanty will assist me, he said.
Pattnaik, 35, a native of the beach town of Puri, about 56 km from here, last participated in the Sopporo snow festival in Japan three times in the year 2002 and 2007, 2012.

In 2012, his sculpture on climate change had received wide appreciation.
The artist has participated in more than 50 international sand sculpture championships across the world and has won many medals for his art works.

Hitachi Home inaugurates its re-constructed manufacturing facility at Kadi, Gujarat

Hitachi Home and Life Solutions (India) Ltd has informed BSE that re-constructed manufacturing facility at Karan Nagar, Kadi has been inaugurated on January 13, 2013.

Japanese giant Uniqlo set to partner Arvind in India JV

The $10-billion Japanese fashion retailer Uniqlo is set to partner Arvind to build a $1-billion business in India by the end of the current decade. Uniqlo's parent Fast Retailing Co, which rivals Zara, H&M, and Gap, is finalizing an equity joint venture with Sanjay Lalbhai-led Arvind to open doors in a key growth market, said people familiar with the matter.

A definite deal could be struck in the second quarter of 2013, making it the most significant global retailer after Sweden's IKEA to firm up India plans following the liberalized FDI regulations in local retailing. Uniqlo has been an unusually aggressive Japanese company that sells trendy and casual merchandise at competitive prices, with ambitions to become the world's top fashion retailer toppling Zara and H&M.

Arvind and Uniqlo teams have jointly visited the marketplace and blocked possible locations for the initial stores, said sources mentioned earlier. Uniqlo appears to have tilted towards Arvind after evaluating other potential partners, including Sunil Mittal's Bharti Enterprises, Aditya Birla's Madura Fashion & Lifestyle, and Reliance Brands. Uniqlo founder and CEO, Tadashi Yanai, among Japan's richest billionaires, last year set the ball rolling talking up his desire to open stores in India as early as possible.

The Uniqlo JV could fire up Arvind's profile in retailing where Lalbhai wants to chalk up $2 billion revenue by 2020. The $250 million Arvind Brands & Retail has had long-term ties with Philip Van Heusen (PVH), Tommy Hilfiger and VF Corp, building businesses for these global biggies in the past two decades. Uniqlo is expected to unveil an ambitious India ramp up plan, getting even into the smaller cities, to show up with $1 billion business within this decade. Arvind also holds rights for UK retailers Debenhams and Next, besides operating its own value format Megamart.

Arvind Brands & Retail CEO J Suresh declined to comment on speculation, while an emailed query to Uniqlo remained unanswered. The details of the proposed JV including the investment details could not be ascertained at the moment.

Arvind, one of the world's largest denim makers, is projected to close this fiscal with Rs 5,500 crore ($1 billion) in revenue and about Rs 900 crore (roughly $180 million) in operating profit driven by mainstay textiles and garments, fashion retail, and the recently started real estate development.

Uniqlo's biggest rival Zara already operates nine stores in India through a JV with Tata Group's Trent. The other peers H&M and Gap have revived interest in India despite a short-term negative outtlook for the retail sector due to slowing consumer sentiments—at its lowest in almost three years. Uniqlo garners 45% of its sales from women's clothing, 35% from menswear and the remaining 20% from kidswear. CEO Yanai has pushed for aggressive store openings leading to a worldwide network of more than 4,000 doors in the next eight years.

According to Uniqlo's official investor relations website, the apparel retailer has forecast to achieve net sales of 216 billion yen ($2.4 billion) and operating income of 16 billion yen ($180 million) at Uniqlo International for the fiscal year ending August 2013. The website added that the company's overseas operations accounted for more than 20% of its total sales.

Netaji's remains to be brought back in India for last rite

World Peace Center, Alandi and MAEER's MIT President Dr Vishwanath Karad and Netaji Subhash Chandra Bose Memorial, Indo-Japan Association president B S Deshmukh today announced that they will bring back the last remains of Netaji Subhash Chandra Bose, one of the dynamic leaders of the Indian freedom movement. While talking to reporters here, Mr Deshmukh claimed that the remains of Netaji, enshrined in Renkoji Temple in Tokyo, Japan by three generations of the priests since 1945. He hoped that they will bring back the remains and immersed in the river Ganges.

Mr Deshmukh said he will be meeting political leaders of both countries to form a committee with members from Japan and India to bring back Netaji's last remains in India. "We wish to bring back the remains in India and immerse them in the Ganga river," Mr Deshmukh, who is a businessman and living in Japan for 40 years now, said. Responding to a query over the mystery surrounds Netaji's death, Mr Deshmukh said leaders like Pandit Jawaharlal Nehru, Indira Gandhi, Atal Bihari Vajpayee, SushilKUmar Shinde among others have visited the temple making these claims authentic.

5-speed automatic Toyota Fortuner launched in India

Ever since it was launched here, the Toyota Fortuner has been a runaway hit, so much so that the company had to stop bookings for some time. The face-lifted version launched at the Auto Expo 2012 along with the automatic transmission option only brought more customers into the showrooms. Now, just a year after its launch owing to customer feedback, Toyota has introduced a five-speed auto transmission in the Fortuner, replacing the earlier 4-speed unit. While figures haven’t been quoted by Toyota, we expect the fuel efficiency of the 5-speed slush box to be more than that of the outgoing 4-speed one.

Other than that, the limited edition Sportivo edition launched last year is now a regular grade as also is the Pearl White Mica colour. Prices for the entire line up ex-Delhi are as follows: Rs 22.3 lakh for the 4x2 AT (5 speed), Rs 22.93 lakh for the 4x2 AT TRD Sportivo (5 speed) and Rs 21.96 lakh for the MT TRD Sportivo.  Bookings will open from January 18.

Commenting on the new introduction Sandeep Singh, deputy managing director and chief operating officer, marketing and commercial said “Further adding to Fortuner’s strength of unmatched road presence and luxury, we have now introduced the 5 speed automatic transmission. The 4x2 automatic transmission is extremely popular, it has been highly appreciated by the customers. The 5 speed AT will further add to the drive quality and comfort.  We introduced the Fortuner TRD Sportivo as a limited edition in October last year. Looking at the overwhelming response and its popularity, we have now regularized this grade for all those looking for a unique sporty image. The bookings will open starting 18thJan 2013. We thank all our customers for their response because of which Fortuner continues to be an undisputed leader ever since its launch in 2009 in India.”

Gaadi.com Reviews Honda's First Diesel in India

- Honda’s first diesel for India

• Based on an extended Brio platform
• Both petrol and diesel options
• Automatic offered on petrol
• Prices to start under Rs 5 lac (USD 9000)

Leading online marketplace for used cars and new cars in India, Gaadi.com has started giving a detailed analysis of the soon to be launched Honda Amaze in India market. Users can now find all that is there to know about this ground-breaking new sedan which will be hitting the Indian markets later in April 2013. The Amaze which is Honda’s first diesel offering, is expected to give strong competition to the existing players in the midsize sedan segment owing to its spacious cabin, great build quality and an efficient diesel engine.

This car, based on the Brio hatchback, has a wheelbase which has been increased for more cabin space and design wise the boot looks neatly integrated into the body. The end result is a pleasing looking sedan with the rear tail lamps hinting at design cues taken from the City sedan. The front look has the same sporty elements as the Brio hatchback with the only changes being the grille and the bumper. Side profile of the car is also sporty with two strong shoulder lines running from each end (front and rear), finishing in parallel in the front door. When this sedan hits the Indian roads it will have a 1.2-litre petrol engine and for the first time in a Honda, a 1.5-litre diesel engine capable of producing around 80 Bhp of power and 200 Nm of torque.

The Indian sedan market is abuzz with the launch of the Honda Amaze as it’s being hailed as the most important launch of 2013. With the midsize segment already crowded with capable players the Honda Amaze with its efficient and fast diesel engine will set new standards in this segment.

Gaadi.com unveiled a detailed page of the Amaze providing complete specification, features, expert and user reviews along with some amazing pictures of the Honda Amaze. It also contains the exhaustive review of the first drive that took place in Japan for select few Indian journalists last year.

Hindustan Motors to launch new SUVs with Mitsubishi

Hindustan Motors Limited (HML), the makers of the good old Ambassador car in India, is planning to launch new SUVs next fiscal in collaboration with Mitsubishi Motors Japan, a company official said here.

"Our focus is now on SUVs (sports utility vehicles) and we plan to launch new models on the Mitsubishi platform by the next fiscal," company managing director Uttam Bose told mediapersons on the sidelines of a programme here Monday.

The company also signed an MoU with Raaj Unocal Lubricants Limited (RULL) for the manufacture and marketing of co-branded lubricants exclusively for HM vehicles.

He said the company's decision to demerge and transfer its Chennai car plant from where Mitsubishi cars like Pajero, Cedia, Lancer, etc. are produced, to its fully owned subsidiary Hindustan Motor Finance Corporation Limited (HMFCL) was taken to further the growth of the two entities (HML and HMFCL).

"To concentrate more on each of the businesses for their own individual growth, the decision has been taken. It is the decision of the management of the two business having different entities, guided to further individual growth," said Bose.

The C.K. Birla controlled HM board Jan 10 approved the company's proposal to restructure itself. Post demerger, the Uttarpara plant in Hooghly district will be under control of Hindustan Motors from where variants of the Ambassador cars are produced.

Bose also hoped that HM would break even by March this year. "Backed by a cut on expenses and reducing cost of production through efficient management, we hope the company would break even by March this year," Bose said.

Mahindra Satyam, Japan's TechMatrix in healthcare deal

Mahindra Satyam said it has signed a partnership agreement with Japan's TechMatrix to jointly address strategic growth areas in the healthcare market and provide cloud-based healthcare solutions in ASEAN region.

Ichigo LLC, a TechMatrix subsidiary, will provide its Teleradiology network infrastructure product line and Nobori, its Cloud service for Medical and Healthcare information, according to press release from Mahindra Satyam.

The Indian IT company in turn will host the cloud and mobile-based services in Singapore and Malaysia, while providing direct sales and IT services to clients throughout ASEAN (Association of Southeast Asian Nations) region.

As part of this partnership, Mahindra Satyam and TechMatrix will come together to invest in Sales and Marketing resources as well as Software and Hardware enhancement in technology, the release said.

Ram Ramachandran, Vice President and Business Head, ASEAN region, Mahindra Satyam, said the Ichigo Teleradiology network is ranked number one in Japan and TechMatrix has been providing innovative healthcare solutions since 1998.

As a first step in this partnership, Mahindra Satyam has installed 'Ichigo Teleradiology iComServer' in its Singapore data centre and launched activities to support initial installations.

As a second step in 2013, Mahindra Satyam and TechMatrix will jointly launch the Nobori Cloud healthcare services, including Picture Archiving and Communications System (PACS), a vendor-neutral solution for medical image storage, management and retrieval, it said.

Takashi Yuri, CEO, TechMatrix said, in addition to the technological leadership and innovation that Mahindra Satyam has in telemedicine, healthcare and cloud services, the Japanese company sees natural synergies between the two organisations which is believed be critical to build a lasting partnership.

Through this partnership, TechMatrix and Mahindra Satyam will focus on delivering state-of-the-art healthcare solutions to public and private hospitals and image scanning centres, reducing healthcare costs while improving the quality of services.

Air India's Dream(liner) hopes turning into a nightmare already?

Two more problems hit 787 Dreamliners in Japan on Friday, including a crack in a cockpit windshield that grounded one flight, the latest setbacks for Boeing's flagship aircraft.

The crack was discovered after a flight from Tokyo's Haneda airport to Matsuyama in the country's southwest and comes at the end of a week in which three other planes suffered problems, including a fire and a fuel leak.

Operator All Nippon Airways (ANA) said the crack, in the window on the pilot's side of the cockpit, caused no problems for the 237 passengers and nine crew on board, but added that the return flight had been cancelled.

ANA said another Dreamliner flight, shuttling between Haneda and southern Miyazaki prefecture, experienced a delay due to an oil leak from a generator, rigged inside an engine.

"We found an oil stain, not a dripping oil leak. It did not affect safety and the flight capability of the plane," an ANA spokesman said.

On Monday, a Japan Airlines operated Dreamliner caught fire after landing in Boston from Tokyo. On Tuesday, the same airline aborted a flight after around 40 gallons of fuel spilled on to the runway in Boston.

The following day, ANA cancelled a regional hop in Japan after an apparent problem with the braking system. Friday's glitch is yet another blow to the reputation of the Dreamliner, which had been lauded by US manufacturer Boeing for a high-tech composite fibre body that reduces weight and improves fuel efficiency.

But a series of delays in the manufacturing process has been compounded by a number of problems since the plane went into service in October 2011 with launch customer ANA. In July last year, test engine trouble was the subject of a probe by the US National Transportation Safety Board. The same month, ANA said it was grounding five Dreamliners for repairs because of a defect in the Rolls-Royce engine.

In February, Boeing said around 55 Dreamliners were at risk of developing a fuselage problem. Dow Jones News wires reported that electrical problems prompted an emergency landing in New Orleans by a United Continental Dreamliner flight recently.

 

Hitachi consortium inks water purchase pact with Dahej SEZ

Japanese firm Hitachi today said its consortium has inked a pact for sea-water desalination project in Gujarat.

A consortium comprising Hitachi and Hyflux Ltd has signed water purchase agreement concerning water supply volume, price and other details with Dahej Special Economic Zone in Gujarat, Hitachi Ltd said in a statement.

The consortium plans to construct a sea water desalination plant in an industrial park within Dahej SEZ and provide a stable supply of industrial water over a period of 30 years (including the construction period), it added.
"Hitachi will work closely with Hyflux to successfully implement the project, in order to facilitate the use of water resources in Dahej SEZ in Gujarat," Hitachi President Hiroaki Nakanishi said.

The project is one of the Delhi-Mumbai Industrial Corridor projects being promoted jointly by the Japanese and Indian governments, involving construction of industrial parks between Delhi and Mumbai utilising private sector capital.
"Going forward, the consortium intends to obtain environmental assessment approval and meet other requirements to successfully implement the project," the company said.

Japan Approves $117 Billion Stimulus as PM Abe Aims to Boost Economy

 Japan's cabinet approved on Friday an economic stimulus package in the biggest spending boost since the financial crisis as Prime Minister Shinzo Abe pursues an ambitious agenda to spur growth and end nagging deflation.

The government will spend 10.3 trillion yen ($116.8 billion) on public works, incentives for corporate investment and financial aid for small firms to help the economy emerge from a mild recession triggered by falling exports last year.

The stimulus package is part of a 13.1 trillion yen extra budget for the current fiscal year to March due to be approved by the cabinet next week. Abe is gambling that a shift to a more expansionary fiscal policy and more monetary easing from the central bank can end years of stop-start growth.

"We'll build a framework for strengthening cooperation between the government and the Bank of Japan. We strongly expect the BOJ to conduct aggressive monetary easing with a clear price target," the government said in a statement.

"In addition, we will continue to keep close watch on currency markets and respond as appropriate."
The government expects the stimulus to raise real economic growth by 2 percentage points and create 600,000 jobs.
The strategy is not without its risks as Japan's debt burden is already the worst among major economies and government bond yields have been on the rise as investors fret about excess bond sales to fund fiscal spending.
The government will sell around 5 trillion yen more bonds than originally planned for the current fiscal year to fund the stimulus, a government official said.

The stimulus package is a combination of construction projects, such as repairing ageing roads and school buildings, subsidies to encourage companies to develop new technologies and loan guarantees for small firms.
The government will front load some spending on reconstruction from a record earthquake and nuclear disaster almost two years ago and for strengthening defences against natural disasters.
The government will establish several funds involving the private sector and state-backed lenders, including one to encourage private-sector lending to Japanese firms looking to acquire companies overseas and one to lend to companies establishing new product or business lines.
The extra budget expected next week will allocate 2.8 trillion yen to help make up for a shortfall in reserves for the pensions system.
Abe has made reviving the economy his top priority after his Liberal Democratic Party (LDP) won elections last month, returning the party to power after three years in opposition.
Abe's spending promises have raised concerns that Japan's public debt burden, already the worst among major economies at more than twice the size of its $5 trillion economy, could deteriorate further.
The LDP returns to government after more than half a century of nearly non-stop rule. During this time, excessive public works spending was the hallmark of LDP economic policy, which helped contribute to the country's large debt burden.