Japan reduced its economic assessment as supporters of earthquake damage

April 12, 2011, 10: 19 am EDT by Aki Ito

April 13 (Bloomberg)--the Japanese Government has reduced its assessment of the economy, for the first time in six months after the earthquake on March 11 killed more than 12,000 and led to the worst nuclear crisis since Chernobyl.

"Even if the Japanese economy was picking up, he showed weakness" since the temblor, the Cabinet Office said in a report today in Tokyo. A lack of power resulting from a crippled nuclear facility, threaten to delay in the resolution of supply chain disruptions and rising prices of oil in pushing growth, he said.Economic and fiscal policy Minister Kaoru Yosano, said yesterday the effect of the economic disaster was greater than anticipated, plans for reconstruction of the indication can exceed Government projections. The Bank of the Japan last week established an emergency loan facility to help affected companies and warned that the event will be exercising a "strong downward pressure" on the third world economy. "There is so much uncertainty surrounding the Outlook, analysts Mizuho Research Institute wrote in a note this week. "We always know the extent of the damage caused by the earthquake and it is more and more research as the nuclear issue will be prolonged."Officials yesterday raised the level of severity of the accident at the nuclear plant of Tokyo Electric Power Co. has to match the level of the 1986 Chernobyl disaster. The Japan is expanding its evacuation area surrounding facilities and has interrupted shipments of vegetables containing radioactive material over the legal limit.Stimulus PackagePrime Minister Naoto Kan aims to compile a stimulus package this month, the cabinet members say could be as large as 4 billion yen (47 billion dollars).Manufacturers of Fujitsu Ltd., Nissan Motor Co. was not in a position of some of their facilities to reopen a month after the disaster and intact plants had cut operations to face power shortages. Damage by the earthquake will be as much as 25 billion yen, the Cabinet Office said producer price for March 23 increased at the fastest rate in 28 months in March, pushed to the top by the highest commodities and the constraints of supply after the earthquakeshowed a report of the Bank of the Japan published today.The fees companies pay for energy and unfinished goods rose 2% a year earlier, more than the estimate of 1.9% median gain of 27 economists surveyed by Bloomberg News. The number of items cost more exceeded those which become cheaper for the first time in nearly two years, signs that deflationary pressure is facilitated.Exports may decline, production stagnated and consumer spending is weakening, according to the report of today who downgraded all three of these components of. A survey of purchasing managers showed manufacturing deteriorated at the fastest rate at least nine years in March. Confidence among consumers of the Japan the nearest dealers plunged to a record pace since the Government began to track data in 2000.The, Ministry of finance is expected to release its report on the trade for March April 20. Data on retail sales are 27 April and industrial production reports are due on April 28 of the Ministry of trade.

-With the help of Mayumi Otsuma in Tokyo. Editors: Lily Nonomiya, Ken McCallum

% JPY

To contact the reporter on this story: Aki Ito in Tokyo at the aito16@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst in the ppanckhurst@bloomberg.net

View the original article here

Towers of the Japan PM damage as protesters hit streets

Japanese Prime Minister Naoto Kan paid another visit to the coast tsunami devastate Sunday, then that thousands of anti-nuclear demonstrators descended on the streets of the capital of the country.

Kan promised depending on fishing Ishinomaki, a coastal city of 163 000 to Miyagi, one of the prefectures hit hardest by the March 11 earthquake and the tsunami, that his Government would do everything it can to help.

"We will support you so that you can resume fishing," Kan, dressed in blue working, said the local population gathered near the sea.

Port of mask of protestors wave placards Sunday in Tokyo in a demonstration against nuclear energy, in the Japan where an earthquake and tsunami in March paralyzed the Fukushima Daiichi nuclear complex in the northeast of the Japan. Associated Press

Ishinomaki Mayor Hiroshi Kameyama told him that the Government must build quickly temporary houses for the town of 17,000 residents who have lost their live in shelters. Ishinomaki more than 2,600 people have been killed in the disaster, and another 2,800 are missing.

Boats were also destroyed, crippling the fishing industry accounts for 40% of the economy of the city.

While Kan was visiting Ishinomaki, thousands of people in Tokyo, carrying signs "No nukes", gathered for a rally in a park located in a student district Sunday, and then marched through the streets chanting and beating drums.

In Tokyo, demonstrators also chanted "fukushima" as they walk through of the seat of the Government and past the nuclear and industrial safety agency.

Transported masked demonstrators bearing placards showing the leaders of nuclear power by country< including="" french="" president="" nicolas="" sarkozy,="" japanese="" prime="" minister="" naoto="" kan="" and="" u.s.="" president="" barack="" obama.="">

The event is a response to the tsunami flooded crisis Fukushima-Daiichi nuclear plant, 220 kilometres north of Tokyo. Workers have spent the months spent frantically try to stop the radiation spewing nuclear reactors in restoring cooling systems, but still have a long way to go.

The members of the Japan self-defence Force search for victims in Ishinomaki, Miyagi Prefecture, Sunday. Toru Hanai/Reuters.

Troops during this time, the Japanese and the Americans fanned along the coast in another search all azimuth of organs by land, sea and air. Disasters, up to 25,000 deaths, destroyed the kilometres of coastline and tens of thousands homeless.

Television news showed heavy lift inland the tsunami washed boat so that they could find a car crushed under. No one was inside.

"A month after the earthquake and the tsunami, many people is still missing," said Japanese Defence Ministry Norikazu Muratani spokesman. "We would like to do everything we can to find organizations for their families."

Only 13 000 deaths have been confirmed for the moment, and many organizations have probably washed out at sea and will never be found.

A similar search for three days with more troops a week he has found just 70 bodies, highlighting the difficulties of the location of the victims in the ocean and debris along the coast.

To coast Fukushima Sunday, a middle-aged man watched as soldiers in scuba dive under water. He hoped that they would locate his younger brother, a fisherman was swept.

"There must be trapped in the boat," the man told broadcaster NHK public, who do not identify him. "I'm just praying soldiers find him.".

The most recent search was to last just one day and does not include the area of 20 km around Fukushima Dai-ichi complex evacuation. Police in full protective equipment-bridged continue the work dangerous, painstaking search for bodies in this area.

The contamination of the water pooling around the nuclear complex has slowed efforts to stabilize the reactors, emitting radiation so in some places where workers can obtain for short periods of time, or even not at all.

In a gesture that has prompted some criticism from countries neighbouring, engineers decided this month to deliberately pump less contamination of water in the ocean of a storage facility they thought that might be a good receptacle for the more highly radioactive water. They are also pumping out the water from drains to prevent it from backup.

"I would like to apologize for my heart on the concerns and problems we are causing to society due to the release of radiological materials, in the atmosphere and sea water" Sakae Muto, Vice President of the nuclear power plant operatorTokyo Electric Power Co., said Saturday.

Pumping was released late Sunday and officials hoped that in the days that they could begin to transfer the most highly contaminated water installation now drained.

The operation is risky because the water is transferred through a hose to water meanders autour buildings on the complex, which means that if there are cracks or leaks in the pipe, radiation could escape into the air.

"We must ensure that we can do so safely," said Hidehiko Nishiyama, spokesman for the Chief of the Japan nuclear safety agency.

Now that the removal of the contaminated water is underway, officials began to consider options for the restoration of cooling systems vital to prevent damage to the reactor. But they do not know what will work best until the water is the road and they can see what parts are usable and which have been destroyed.

Also Sunday, workers at the plant were preparing move highly contaminated water, swelling in a trench in one of the six buildings reactor in an area of storage in the building. The transfer was necessary to avoid that the water leaking into the sea.

North Japan, North of the Japan 250 000 households were still without running water and electricity Sunday. Some have it since the tsunami, while others he lost in a replica of magnitude-7. 1 Thursday that killed three people and rattled nerves, but caused no significant damage.

Accessibility links

View the original article here