Market Chatter: Two Fuji Electric Employees Detained in China Over Export Violations
Chinese authorities in Dalian detained two Japanese nationals in May on suspicion of violating import and export regulations, Nikkei Asia reported Wednesday, citing Japan's Chief Cabinet Secretary Yoshimasa Hayashi.The two individuals, employees of a local subsidiary of Fuji Electric (TYO:6504), are suspected of breaching restrictions on rare-earth exports, the report said, citing people familiar with the matter.Chinese Foreign Ministry spokesperson Guo Jiakun confirmed the detentions, saying the individuals had violated Chinese law, according to the report.Fuji Electric declined to comment on the matter.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
