— Japan Sep Trade Surplus Y300.42 Bln, -61.2% Y/Y
— Japan Sep Trade Surplus MNI Median Forecast: Y199.5 Bln
— Japan Sep Exports +2.4% Y/Y, 2nd Rise In Row; Aug +2.8% Y/Y
— Japan Sep Export MNI Median Forecast: +1.0%
— Japan Sep Imports +12.1% Y/Y, Up 21 Months In Row
— Japan Sep Exports To Asia +0.2% Y/Y, 2nd Rise In Row
— Japan Sep Exports To China +2.7% Y/Y, 2nd Rise In Row
— Japan Sep Exports To US +0.4% Y/Y, 2nd Rise In Row
— Japan Sep Exports To EU +7.6% Y/Y, Up 4 Months In Row

TOKYO (MNI) – Japan’s exports rose for the second straight month in
September on the recovery of car shipments but the pace of their on-year
increase decelerated from August amid slowing global growth and the
yen’s rise to record highs, data from the Ministry of Finance showed on
Monday.

Japan posted a trade surplus of 300.42 trillion in September, down
61.2% from a year earlier. It was higher than the median forecast by
economists in a Market News International survey for a surplus of Y199.5
billion.

Exports rose 2.4% to Y5.98 trillion in September from a year
earlier, slowing from a 2.8% rise in August. It still beat the median
forecast by economists in a MNI survey for a 1.0% rise.

Shipments of Japanese cars and car parts led the increase but
semiconductor exports continued to show a drop from year earlier levels.

Exports of automobiles, which were the hardest hit by the March 11
earthquake disaster, rose just 4.9% from a year earlier following a 5.3%
rise in the previous month.

Semiconductor shipments fell 9.5% on year in September after
slumping 16.4% in August.

The yen hit a fresh post-war high of Y75.78 against the dollar on
Friday amid heightened concerns about the European sovereign debt
crisis, threatening Japan’s export-led economic recovery.

Meantime, Japanese imports rose 12.1% y/y September to Y5.68
trillion on higher prices of crude oil and liquefied natural gas,
posting the 21st consecutive rise after a 19.2% rise in August.

Many of Japan’s 54 nuclear reactors remained shut for routine
maintenance or due to the March earthquake disaster, promoting more
purchases of fossil fuels used at thermal power plants.

In September, exports to Asia, the largest market for Japanese
goods, rose 0.2% to Y3.21 trillion, a second straight y/y rise,
following a 0.3% gain in the previous month.

Export to China increased by 2.7% to Y1.11 trillion in September
for a second straight y/y rise, following a 2.4% gain in the previous
month.

Exports to the U.S. rose 0.4% to Y924.85 billion in September, also
a second straight on-year rise but slowing from a 3.5% increase in the
previous month.

Meantime, exports to the European Union rose 7.6% to Y719.38
billion in September, the fourth straight y/y rise, with the pace of
increase accelerating from a 6.0% gain in the previous month.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **

[TOPICS: M$J$$$,M$A$$$,MAJDS$,MT$$$$]