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China’s Global Times reports 30 separate measures being taken today to stabilise China markets

  
  Analysis
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The GT does not outline what the 30 separate measures are unfortunately.

The piece says the outbreak will subtract 2% points from GDP growth and, in response:
  • officials have moved swiftly to implement growth stabilizing measures
GT lead with the People’s Bank of China action to come today
  • PBOC to inject 1.2 trillion yuan into the market … through reserve repurchase operations
Its a shame the GT does not elaborate with the info
  • the net effect is not a 1.2 tln yuan injection due to slightly over 1 tln yuan of funds maturing today.
  • The net injection is in the order of 150bn yuan.

Not doing so raises the question they have been not quite so forthright elsewhere. Which is not helpful. Anyway, this is what the article says further (in brief)

four government agencies that oversee the economy, including the Ministry of Finance (MOF), the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission (CSRC), issued financial support aimed at combating the coronavirus … 30 measures include
  • CSRC – would release and study tools to prevent risks and ease market panic
  • MOF released measures including offering loans with up to 50 percent discounts on interest to companies
  • Special financial services will also be provided for those affected by the epidemic, along with small and medium-sized businesses
  • Other agencies, such as the Ministry of Commerce and the National Development and Reform Commission measures include providing help for companies to resume production and expand foreign supplies for necessary products during this critical period.  

If you are trying to escape from Japan this might help – how Carlos Ghosn did it

  
  Analysis
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Ex-Nissan CEO Ghosn escaped inside a road case, a box used for concert equipment such as speakers, controllers, instruments and what have you.

The Wall Street Journal have a piece up on what they say is how Ghosn got out, and why:
  • escape involved a 300-mile sprint across Japan on a fast train
  • from Tokyo to the Osaka airport
  • then inside a large black box, generally used for concert equipment, with breathing holes drilled in the bottom, into a waiting private jet
  • flown to Turkey, then Lebanon
  • Ghosn … made his own, final decision to go through with the plan … after signs his trial might drag on for years, and amid the court’s refusal for him to have contact with his wife during the holidays
The conviction rate in Japan approaches 99%. LOL.
Besides, if Ghosn’s box was handled by typical roadies he would have suffered enough 😉
Ex-Nissan CEO Ghosn escaped inside a road case

Suzuki postpones India auto plant opening amid sales slump World’s No. 4 car market skids as tighter credit and high

  
  Analysis
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Japan’s Suzuki Motor has postponed the opening of a new plant in western India, Nikkei has learned. The plant, originally scheduled to go online in April 2020, will now begin operating next July.

Suzuki’s decision to postpone the startup is the latest in a string of efforts by Indian carmakers to deal with a softening market. Suzuki Motor Gujarat, a wholly owned local subsidiary, is building the new plant in the state of Gujarat. The $550 million factory will raise the company’s capacity in India by 250,000 cars annually to 2.25 million.

India’s auto market is sluggish and likely to remain so, with new car sales in 2019 expected to fall below the previous year’s levels for the first time in five years. Suzuki was forced to push back the opening of the new plant to assess demand.

India is the world’s fourth-largest auto market, with 4.4 million new cars sold in 2018, ahead of Germany’s 3.82 million. However, sales began falling last November and the declines widened to double digits starting in April. The slowdown in India has confounded automakers around the world, which had been banking on growth. That is exacerbating a global sales slump.

Maruti Suzuki, Suzuki’s local subsidiary and the country’s largest automaker, and Mahindra & Mahindra, the third-largest local manufacturer, idled plants for several days in the July to September quarter due to sluggish sales. Maruti laid off 3,000 contract employees in August, while Tata Motors, the No. 4 carmaker, has accepted a 65 billion rupee ($910 million) bailout from Tata Group, the conglomerate to which it belongs.

Suzuki has set an ambitious target for India, hoping to raise sales to 5 million cars a year by 2030. The move to postpone the opening of the Gujarat plant is temporary, the company says, but the outlook is murky. It may have to reassess its long-term strategy if the opening is pushed back for a long time.

“I think we need to watch [for] maybe three months to see what the market is up to in January before we can make a somewhat more certain prediction,” said Maruti Chairman R.C. Bhargava in an interview with Nikkei on Oct. 24.

On Tuesday, Suzuki said it expects sales in India to fall 20% on the year to about 1.4 million cars in the year ending March 2020. With sales tepid in the country, which accounted for 30% of Suzuki’s total revenue, the company’s net profit for the current business year is now forecast at 140 billion yen ($1.28 billion), down 22% from the previous year.

(more…)

Japan Mar Retail Sales +4.7% Y/Y, Biggest Rise In 13 Years

  
Analysis, Economy, Education
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– Japan Retail Sales Post 3rd Straight Y/Y Rise; Feb +4.2%
– Japan Mar Retail Auto Sales +19.6% Y/Y Vs Feb Revised +14.8%
– Japan Mar Retail Sales Also Pushed Up By Higher Fuel Prices

TOKYO (MNI) – Japanese retail sales surged 4.7% in March from a year earlier, posting the largest year-on-year gain in 13 years, data from the Ministry of Economy, Trade and Industry released on Wednesday showed.

It was the third straight year-on-year increase after an unrevised rise of 4.2% in February. (more…)

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