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Japan’s Banking, Insurance Markets Link SMBs To US Trade Via Amazon

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“Tokio Marine will link small businesses with insurance to protect against the risk of product damaged during shipment or storage, or consumer lawsuits” reports pymnts.com. According to reports, small businesses in Japan struggle to overcome barriers like the high cost of logistics, or insurance costs to protect against scenarios like consumer lawsuits.Reports added that the companies may consider expanding their venture into other cross-border markets, depending on the success of the initiative with U.S. trade. Source: pymnts.com

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Crypto News 

Japan Economic Alliance Asks Financial Regulator FSA to Reduce Tax on Crypto

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“The Japan Association of New Economy (JANE) has asked the Japanese Financial Services Agency (FSA) to reduce the current tax rate for crypto trading income, Cointelegraph Japan reported on Feb. 14” writes Helen Partz for cointelegraph.com. In the regulation proposal, JANE asked the Japanese regulator not to harm innovation by imposing restrictive regulation on the crypto industry.The association has also asked the FSA to impose no tax on crypto-to-crypto transactions.Led by Hiroshi Mikitani, the CEO of Japanese e-commerce giant Rakuten, JANE has reportedly sent a proposal request to the country’s…

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Deloitte Japan fined $2 million for auditor-independence violations

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“Deloitte Japan, Amano, and Itagaki consented to the SEC’s order without admitting or denying the findings. and Deloitte Japan agreed to pay $2 million in monetary sanctions and be censured” writes Francine Mckenna for marketwatch.com. According to the SEC’s order, the account balances exceeded depositary insurance limits in violation of the SEC audit independence rules.Under the SEC’s rules, accountants are not considered to be independent if they maintain bank accounts with an audit client with balances greater than FDIC or similar depositary insurance limits. Source: marketwatch.com

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SEC fines Deloitte Japan $2 million for auditor independence violations

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“Deloitte Japan, Amano, and Itagaki consented to the SEC’s order without admitting or denying the findings. and Deloitte Japan agreed to pay $2 million in monetary sanctions and be censured” writes Francine Mckenna for marketwatch.com. According to the SEC’s order, the account balances exceeded depositary insurance limits in violation of the SEC audit independence rules.Under the SEC’s rules, accountants are not considered to be independent if they maintain bank accounts with an audit client with balances greater than FDIC or similar depositary insurance limits. Source: marketwatch.com

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UK faces major hurdles in trade talks with Japan

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“The UK is facing major hurdles in trade talks with Japan as it scrambles to minimise disruption in the event of a no-deal Brexit” writes Andy Critchlow for telegraph.co.uk. The agreement between the world’s third-largest economy and the EU is just one of 40 deals with 70 countries that the UK must seek to “roll over” to avoid trade chaos if it leaves the EU without a deal on March 29.However, the Telegraph understands that trade talks are being held up both by confusion over the UK’s future relationship with the EU, and its…

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Crypto Markets News 

Are Japanese Consumers Losing Interest in Cryptocurrencies?

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“During the fourth quarter of 2018, the number of consultations regarding cryptocurrencies and related fields was 788, 443 less than the previous quarter” writes Celeste Skinner for financemagnates.com. However, another way to look at the FSA figures is that there are fewer complaints and Japanese consumers are more confident with the cryptocurrency industry.During the previous quarter, from July 1, 2018, until September 30, 2018, consultations regarding cryptocurrencies and related fields was 1,231, which was also a quarter-on-quarter drop of 371 cases. Source: financemagnates.com

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Child abuse soars to record high in Japan amid fury at 10-year-old girl’s death at home

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“Suspected child abuse cases in Japan soared above 80,000 for the first time last year, according to new figures released amid a growing furore over the recent death of a 10-year-old schoolgirl” writes Danielle Demetriou for telegraph.co.uk. Last month, Mia was absent from school for several weeks before her death, with her father reportedly telling teachers that she was visiting family in southern Okinawa. Source: telegraph.co.uk

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Exclusive: Indian steel firms seek higher duties on steel imports as prices drop

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“As a result, the nation’s steel imports from countries such as Japan, South Korea and Indonesia surged” writes Midwest Communications Inc for 95kqds.com. According to government figures, for the April-September 2018 period imports from South Korea rose 29 percent from the year-earlier period, Japanese imports increased 35 percent, and Indonesian imports by 106 percent.Chinese imports also climbed in the final quarter of 2018, Indian companies say. Source: 95kqds.com

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Markets News 

Japan insurers to target China M&A in new phase after $50 billion overseas push

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“Top Chinese firms such as China Life Insurance and Ping An Insurance Group collectively hold about 90 percent of the Chinese life insurance market” reports businessinsider.com. Japanese insurers have spent $53 billion on deals since 2014, the second most by insurers of any country after the United States.For property-and-casualty insurers including Tokio Marine, Sompo and MS&AD, China’s opening up comes as they themselves are looking to diversify geographically.The banker said his firm was already working on a few possible acquisition deals by Japanese insurers in China. Source: businessinsider.com

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AUD Markets News 

Stocks in Australia slip ahead of Royal Commission report

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“Asia markets were mixed on Monday morning, with shares in Japan rising while Australian markets traded lower” writes Eustance Huang for cnbc.com. The ASX 200 gained about 0.4 percent in morning trade, with the sectors mostly higher.Stocks in Australia traded lower during Monday morning trade ahead of the release of a landmark report surrounding the country’s beleaguered financial services sector.The heavily weighted financial subindex recovered from its earlier slip to rise more than 0.7 percent as shares of the country’s Big Four banks advanced. Stock markets in China and South…

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