NNA Asia top stories Thursday, Nov. 22

22, Nov. 2018

TOKYO, NNA – The following are the top stories from NNA Asia for Thursday, Nov. 22.

Nearly 30% of Japan firms in China hit by U.S.-China trade war: NNA survey

TOKYO, NNA – Nearly 30 percent of Japanese firms operating in China are suffering from higher U.S. import tariffs amid the escalating trade dispute, the results of an NNA survey released Thursday showed.

Of 71 Japanese companies in China surveyed in late October, 20 firms, or 28.2 percent, said that they procure goods or manufacture products that are subject to additional U.S. duties.

SoftBank Vision Fund invests $2 bil more in S. Korea’s e-commerce giant Coupang

SEOUL, NNA – SoftBank Vison Fund will invest $2 billion more in South Korea’s largest online retailer Coupang, helping its rapid growth in the e-commerce market, the site operator said Wednesday.

The 10-trillion-yen ($88.4 billion) fund run by SoftBank Group Corp. initially injected $1 billion into the South Korean firm in 2015. A SoftBank spokesman declined to comment on details.

Japan to lend 167 bil yen ($1.5 bil) for Philippines north-south railway extension

MANILA, NNA- The Japanese and Philippine governments signed an agreement Wednesday on a soft loan from Japan of up to 167.2 billion yen ($1.5 billion) for a railway extension project in greater Manila to help ease traffic.

This is the third yen loan made to build or improve railways in the metropolitan area. The three loans total a maximum 310 billion yen. The 107-kilometer extension of the commuter railway is scheduled to complete in 2023.