Japan welcomes...

corporate watchdog Australian Securities and Investments Commission (ASIC) over the alleged rigging of the benchmark interest rate, which is used to set the price of domestic financial products such as bonds and loans.

In reporting a half-year cash profit of Aus$4.87 billion earlier this month, CBA said it had put aside Aus$375 million to pay potential fines from the moneylaundering scandal.

He added that the government would work to reverse similar restrictions put in place by other countries on the import of Japanese food after the nuclear disaster.

Japan took its food row with Seoul to the WTO in May 2015 and requested consultations, in the first step under the global body’s dispute settlement system.

But talks broke down between the Asian neighbours, leading Japan to seek a WTO ruling in August the same year.

Following Friday’s announcement South Korea’s trade ministry said in a statement: “The government has decided to appeal against the WTO’S ruling in order to protect the people’s health and safety.

“Despite this ruling, the current import ban will remain in force, and the government will make its utmost efforts to ensure radiation-contaminated food does not reach the dinner table.”

Suga called Seoul’s decision to appeal “extremely regrettable as the ruling was issued after two and a half years of process”.

China, Singapore, Macau, Russia, Taiwan all have partial import bans on fishery products from Japan, according to the fisheries agency.

The European Union, Indonesia, the Philippines, Hong Kong and some other countries require certificates of pre-export testing for radiation.

But the United States, Canada, Malaysia and Thailand, among others, have lifted restrictions and special requirements for imports of fish products from Japan.

The European Parliament last year warned against easing checks imposed on food products imported from the Fukushima region in Japan in the wake of the 2011 disaster.