20110415

Japan can pay for rebuild: central bank governor

by AFP

Japan's economy suffered a big blow in the triple earthquake, tsunami and nuclear disaster, but the country should have no problem financing reconstruction, the central bank chief said Thursday. Bank of Japan Governor Masaaki Shirakawa conceded problems in the economic supply chain, power generation, tourism and other important sectors. But he said the financial system could cope. (AFP)

Automakers eye rules on parts buying / Quake-caused shortages spur cooperation

by Yomiuri

Major automobile manufacturers have started formulating self-imposed rules over parts purchases to avoid a frantic scramble among firms competing for essential components amid expected shortages caused by the March 11 Great East Japan Earthquake and tsunami, it was learned Thursday. The cooperation was sparked by the anticipation of a serious lack of semiconductors needed to build automobile engines and brakes that is expected for this summer at the earliest, industry sources said, who suggested other industries would likely take similar action. (Yomiuri)

Heavy price for nuclear crisis

by Yomiuri

Given the increasingly serious circumstances involving Tokyo Electric Power Co., operator of the crippled Fukushima No. 1 nuclear power plant, the firm cannot be allowed to get away with ambiguous statements. Appearing Wednesday at a press conference at TEPCO's head office, the first he had held in about a month, company President Masataka Shimizu did not go into detail about future actions concerning the nuclear plant. All he said was: "I want to indicate [when the accident can be contained] as soon as possible." On the subject of compensation for people affected by the crisis, Shimizu said: "We'll act based on the law concerning compensation for nuclear disasters. We're considering provisional payments for urgently needed money." (Yomiuri)