LATEST UPDATES
Japan’ s exports decline in light of US tariffs
Japan’ s exports declined in May for the first time in eight months, as major carmakers such as Toyota were hit by sweeping US tariffs. The failure of Tokyo to secure a trade agreement in June is expected to add further strain.
Following the Group of Seven summit in Canada in June, Prime Minister Shigeru Ishiba announced that Japan had not reached a comprehensive tariff deal with the United States due to continued disagreements between the two countries.
Tokyo was trying to convince Washington to exempt Japanese carmakers from a 25 % tariff specifically targeting the car industry – measures that are putting significant pressure on Japan’ s manufacturing base. In addition, Japan is facing the threat of a 24 %‘ reciprocal’ tariff set to take effect on July 9 if a deal cannot be reached.
Last year, Japan’ s auto sector made up roughly 28 % of the 21 trillion yen( approximately US $ 145 billion) worth of goods it exported to the US.
In May, Japan’ s overall exports fell 1.7 % year-on-year to 8.1 trillion yen, according to government data. This was better than the median forecast of a 3.8 % decline but reversed a 2 % gain in April.
Exports to the US plunged 11.1 % compared to the same month a year earlier – the steepest monthly drop since February 2021 – largely due to a 24.7 % fall in automobile shipments and a 19 % drop in auto parts. A stronger yen also reduced the value of Japanese exports. Shipments to China also declined by 8.8 %.
Operational efficiency emerges as key driver of Digital Transformation in capital markets
Xceptor unveiled findings from a new report conducted in partnership with Crisil Coalition Greenwich, Operational efficiency is driving digital transformation in capital markets. The report reveals how firms across the capital markets landscape are rethinking their operational strategies in response to growing complexity, rising trade volumes and evolving regulatory demands.
The study surveyed over 70 C-suite and senior leaders from capital markets firms across North America, the UK, Europe and Asia Pacific. It offers a clear view into how firms are responding to rapidly changing data requirements and where the biggest opportunities for transformation lie.
“ Despite several benefits of Digital Transformation to improve workflow efficiency, many participants are taking more time to invest in these resources and legacy practices prevail. Our study uncovers hard dollar costs to holding out on adoption, which are set to increase as data volumes continue to grow and market uncertainty persists,” said Audrey Costabile, Senior Analyst, Crisil Coalition Greenwich.
The study also explored the state of AI adoption in the industry. While 60 % see AI as important to their transformation strategy, nearly one-quarter believe it is not important.
Key perceived benefits of AI adoption are enabling employees to spend more time on strategic work and automating manual tasks, while integration challenges, internal stakeholder buy-in and management controls remain key concerns.
www. intelligentcxo. com
7