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Fast Retailing Co., Ltd. (FRCOF)
- Reuters
Japan yields break central bank ceiling as markets press for policy shift
The yield on Japan's benchmark 10-year government bonds breached the central bank's new ceiling on Friday in the market's most direct challenge yet to decades of uber-easy monetary policy, before a wave of emergency bond buying reined it back in. Swirling speculation that the Bank of Japan's policy of yield curve control (YCC) could be revised, or even abandoned, as early as next week had investors rushing for the exits. That catapulted 10-year Japanese government bond yields as much as 4 basis points higher to 0.54%, the highest since mid-2015 and above a recently widened band of -0.5% to +0.5% set by the BOJ in a shock decision just three weeks ago.
- Reuters
Uniqlo parent says profit slid 2% as Japan, China drag growth
TOKYO (Reuters) -Japan's Fast Retailing Co, owner of clothing brand Uniqlo, said on Thursday that first quarter earnings slid 2%, reflecting weakness at home and continuing COVID-19 restrictions in China. Domestic results were hit by warmer weather in November that stifled sales of fall and winter wear, while COVID curbs continued to weigh on China, including the temporary closure of 247 stores in Beijing and Guangzhou. The company, Japan's biggest retailer, sent shockwaves through the country on Wednesday by saying it would lift its employees' wages by as much as 40%.
- Yahoo Finance Video
Uniqlo owner Fast Retailing raises wages in Japan by as much as 40%
Yahoo Finance Live anchors discuss the rise in retail wages for Japanese Uniqlo workers.
