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December 12, 2024
 

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Japan's economy expanded in the July-September period at a faster pace than initially estimated, with consumer spending relatively solid for a second straight quarter, in a sign that underlying strength may be returning to the economy.
BUSINESS / Economy
Dec 9, 2024

Japan’s economy shows more resilience as BOJ considers hike timing

GDP grew at an annualized pace of 1.2% in the three months through September from the previous quarter.
A Chevrolet Bolt electric vehicle (EV) at a dealership in Colma, California, on Jan. 26
BUSINESS / Tech
Dec 9, 2024

Trump's EV skepticism threatens $54 billion in Korean investments

Some Korean companies have slowed or hit the pause button on any ongoing construction of some plants in the U.S. because they’re concerned about reduced demand for EVs.
Then-U.S. President Donald Trump looks on as Federal Reserve Chair Jerome Powell speaks at the White House in Washington on Nov. 2, 2017.
BUSINESS / Economy
Dec 9, 2024

Trump says he has no plan to remove Powell as Fed chair

Powell, whose term expires in May 2026, told reporters last month that he wouldn’t step aside early if Trump asked for his resignation.
The Tokyo-based company Kioxia Holdings’ IPO price was ¥1,455, right at the middle of its range. That valued the firm at ¥784 billion ($5.2 billion).
BUSINESS / Companies
Dec 9, 2024

Bain-backed Kioxia sets IPO price, valuing memory maker at $5.2 billion

The Tokyo-based company’s IPO price was ¥1,455, right at the middle of its range.
Factory workers make jeans in Dhaka in March 2023.
BUSINESS
Dec 9, 2024

Extreme heat puts garment factory workers at risk, study shows

New European Union regulations make retailers selling in the bloc legally liable for conditions at their suppliers.
The number of bankruptcies in Japan is likely to exceed 10,000 for the first time since 2013.
BUSINESS / Companies
Dec 9, 2024

Japan's bankruptcies set to hit 11-year high in 2024, data shows

841 Japanese companies went bankrupt in November, bringing the January-November tally to 9,164, already exceeding last year's total.
Japan's current account surplus declined 13% in October from a year earlier to ¥2.46 trillion.
BUSINESS / Economy
Dec 9, 2024

Japan's current account surplus declined 13% in October

The country's trade deficit decreased to ¥155.7 billion from the year-before level of ¥487.4 billion.
The Liberal Democratic Party proposed abolishing the system of political activities funds — criticized as a hotbed for slush funds — and obligating party members to submit balance reports to a publicly accessible online database.
JAPAN / Politics
Dec 9, 2024

LDP submits bill banning most political funding but leaves 'loophole'

Prime Minister Shigeru Ishiba hopes to pass the bill this year, but that may not be possible with opposition parties holding out for a further ban on corporate donations.
A defaced mural of Sheikh Hasina, the ousted prime minister of Bangladesh, in Dhaka on Nov. 5. The new governor of Bangladesh’s central bank, Ahsan Mansur, calculates that about $17 billion was siphoned from the country’s financial system in the 15 years before Hasina's government collapsed in August.
ASIA PACIFIC / Crime & Legal
Dec 9, 2024

How the Bangladesh economy was siphoned dry

Some economists guess that the true value looted during Sheikh Hasina’s rule before she fled the country could exceed $30 billion, but no one can say for sure.
Yurie Collins is a bilingual comedian based in Tokyo. In addition to being a prize-winning roast comic, her dating-themed "Tokyo Hoe Tales" shows have proven to be a hit with women of all nationalities.
COMMUNITY / Our Lives / 20 QUESTIONS
Dec 10, 2024

Yurie Collins: ‘Everyone seems sedated, fed-up … that’s why they turn to comedy’

Yurie Collins is a bicultural stand-up comedian who has opened for comedian Atsuko Okatsuka and the upcoming Iliza Shlesinger show in Tokyo.
Japanese investors sold overseas stocks in November as they sought to capitalize on robust gains in global equities, particularly as U.S. stocks reached record highs.
BUSINESS / Markets
Dec 9, 2024

Japanese investors sell overseas equities for second straight month

Investors' net sales of overseas stocks totaled ¥1.22 trillion last month, following about ¥2.37 trillion worth of net withdrawals in the prior month.
X owner Elon Musk and U.S. President-elect Donald Trump attend a viewing of the launch of a SpaceX test flight on Nov. 19.
WORLD / Politics
Dec 10, 2024

Trump is on collision course with EU over big tech crackdown

In the coming months, several U.S. tech companies could face billions in fines or even mandatory divestment orders from EU investigations.
Optiver starts providing liquidity on options of 12 Japanese companies and exchange-traded funds in September.
BUSINESS / Companies
Dec 10, 2024

Options giant Optiver bets Japan’s market is about to boom

The firm is betting that a push by the Tokyo bourse for better corporate governance will lead to more stocks trading and increased usage of derivatives.
Kosuzu Harada has spent over a decade sharing the harrowing atomic bomb experiences of her late grandfather, Tsutomu Yamaguchi, a double hibakusha.
JAPAN
Dec 10, 2024

Descendant of double A-bomb survivor hopes for nuclear-free future

Kosuzu Harada's late grandfather, Tsutomu Yamaguchi, is one of the few individuals officially recognized as having survived both the Hiroshima and Nagasaki bombings.
Sharp revealed in June that it had started talks on building an artificial intelligence data center with KDDI and system integrator Datasection. On Monday, Sharp said the project will proceed without Datasection.
BUSINESS / Companies
Dec 10, 2024

KDDI to build AI data center on Sharp's LCD plant site

Construction of the data center in the city of Sakai, Osaka Prefecture, will commence by March, with KDDI aiming to begin operations in fiscal 2025.
While there’s no evidence of deliberate manipulation, increasing opacity and inconsistent data have led to doubts about the accuracy of India's official gross domestic product figures.
COMMENTARY / Japan
Dec 10, 2024

India’s statistical challenges mirror China’s past issues

India's once-strong institutional credibility in terms of economic data is weakening, much like China's, though perhaps for different reasons.
Kioxia priced its stock at ¥1,455 ($9.6), at the middle of the price range it proposed before the IPO.
BUSINESS / Companies
Dec 10, 2024

Kioxia’s jumbo IPO shows weak sign contrary to booming market

The Bain Capital-backed memory-chip manufacturer priced its stock at ¥1,455 ($9.6), at the middle of the price range it proposed before the IPO.
U.S. President Joe Biden — born in U.S. Steel’s home state of Pennsylvania — has long signaled opposition to the company's sale to Nippon Steel.
BUSINESS
Dec 11, 2024

U.S. says review of Nippon Steel bid ongoing as U.S. Steel shares tumble

The companies are poised to pursue litigation over the process if U.S. President Joe Biden decides to block the merger, sources added.
A firefighter sprays water as the Franklin Fire burns in Malibu, California, on Tuesday.
WORLD
Dec 11, 2024

Malibu fire explodes in size and forces thousands to evacuate

The Franklin fire has swelled to more than 2,700 acres and remained completely out of control as of Tuesday afternoon.
Israeli Prime Minister Benjamin Netanyahu attends a hearing in his trial on corruption charges at the district court in Tel Aviv on Tuesday.
WORLD / Politics
Dec 11, 2024

Israel's Netanyahu dismisses allegations in corruption trial

Benjamin Netanyahu is the first sitting prime minister of Israel to face a criminal trial.
Mao Geping, chairman of Mao Geping Cosmetics Co., gestures during the company's listing ceremony at the Hong Kong Stock Exchange on Tuesday.
BUSINESS / Companies
Dec 11, 2024

China makeup mogul is a billionaire after hot Hong Kong debut

Mao Geping's namesake skincare and cosmetics firm, which listed Tuesday, raised HK$2.3 billion ($300 million) in its initial public offering.
Inflation in Japan’s corporate goods prices accelerated to the fastest pace in 16 months, an outcome that points to growing inflationary pressure in the economy and supports the central bank’s further normalization of policy.
BUSINESS / Economy
Dec 11, 2024

Japan's wholesale inflation accelerates, keeping BOJ rate-hike plan in focus

Agricultural and fishery goods prices spiked 31% in November from year-before levels, after a 28.1% gain in October, due largely to the soaring price of rice.
Signage at the Tencent headquarters in Shenzhen, China
BUSINESS / Tech
Dec 11, 2024

Scrappy studio boss feeds Tencent’s lofty global game ambitions

"Arena Breakout: Infinite" is Tencent’s newest "Call of Duty"-style PC shooter, targeting a genre that typically tops spending charts.
The United Steelworkers union claims that Nippon Steel's latest offer is tantamount to bribery.
BUSINESS / Companies
Dec 11, 2024

Union blasts Nippon Steel’s $5,000 per worker bonus in U.S. Steel deal

The United Steelworkers called Nippon Steel's move “a classic union-busting tactic” and a “desperate attempt to win over support for its doomed acquisition.”
The Bank of Japan headquarters in Tokyo
BUSINESS / Markets
Dec 11, 2024

BOJ signals before meeting leave traders guessing

The confusion has caused sharp swings in market bets on rate hikes, with overnight indexed swaps pricing in a 22% chance of a December rate increase.
Akihiro Kaneko, president of the Japan Council of Metalworkers’ Unions, speaks during a news conference in Tokyo on Dec. 3.
BUSINESS
Dec 11, 2024

Japan union head calls for government to work more on raising pay

The call comes as Japan prepares for annual wage negotiations that culminate in the spring.
The East Japan Railway Shinjuku Station in Tokyo. Within the next 10 years, JR East will develop automated walk-through gate technology so that passengers can enter the train platform without having to tap their Suica card or phone on the ticket gates.
BUSINESS / Companies
Dec 11, 2024

JR East announces 10-year plan to drastically overhaul Suica

Dubbed the "Suica Renaissance," the plan involves redesigned ticket gates, new payment features and a subscription service.
Chinese President Xi Jinping and his Peruvian counterpart, Dina Boluarte, meet on the sidelines of the Asia-Pacific Economic Cooperation summit in Lima on Nov. 14.
COMMENTARY / World
Dec 10, 2024

U.S. wakes up to China’s growing presence in its ‘backyard’

China has long eyed Latin America’s food and mineral resources, using them to build business connections for over two decades.
Bain Capital plans to pay ¥9,600 a share for Fuji Soft, it said in a statement on Wednesday.
BUSINESS
Dec 11, 2024

Bain raises offer for Fuji Soft in $4.3 billion contest with KKR

The Boston-based investment firm plans to pay ¥9,600 a share for Fuji Soft, it said in a statement.
Firms should quit turning foreign workers into Japanese ones
Filipino housekeepers undergo training to work for a Japanese staffing company. By applying the same criteria when hiring overseas and local workers, Japanese firms tend to underutilize the unique skills that foreign nationals can bring.
Winter chill, hot baths and the risk of heat shock: How to stay safe
A health ministry survey showed that 5,824 people age 65 and older died in a bathtub in their home or other residential facilities in 2022, more than double the number of people who died in a traffic accident.
Nobel Peace Prize winner Nihon Hidankyo calls for a world without nukes
One of the representatives of 2024 Nobel Peace Prize winner Nihon Hidankyo, Terumi Tanaka, speaks during the Nobel Peace Prize awarding ceremony in Oslo City Hall on Tuesday.
Victim of alleged staged suicide was subjected to years of abuse
Manabu Sasaki, who runs a painting company, is one of four suspects arrested on suspicion of murdering 56-year-old Osamu Takano.
South Korean police blocked from raid on president's office
Protesters attend a rally calling for the impeachment of South Korean President Yoon Suk Yeol in front of the headquarters of the ruling People Power Party in Seoul on Tuesday.
‘Hayao Miyazaki and the Heron’ documentary meditates on auteur's creativity and legacy
“Hayao Miyazaki and the Heron" provides an in-depth look into the octogenarian auteur’s creative process and personal reflections.
Yurie Collins: ‘Everyone seems sedated, fed-up … that’s why they turn to comedy’
Yurie Collins is a bilingual comedian based in Tokyo. In addition to being a prize-winning roast comic, her dating-themed "Tokyo Hoe Tales" shows have proven to be a hit with women of all nationalities.
As Japan nears new climate goal, criticism of policy process ramps up
The government is preparing to set Japan’s new Nationally Determined Contribution, an emissions reduction commitment made by members of the United Nations climate framework's Paris Agreement.
Winter chill, hot baths and the risk of heat shock: How to stay safe
A health ministry survey showed that 5,824 people age 65 and older died in a bathtub in their home or other residential facilities in 2022, more than double the number of people who died in a traffic accident.
It’s Japan versus China for 2024’s game of the year
While FromSoftware's Elden Ring: Shadow of the Erdtree is a strong contender for game of the year, Black Myth: Wukong, the first AAA game made by a Chinese developer, offers some stiff competition.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

People in cities across Japan will pop into their local convenience store for any number of products they believe will help them with a night of drinking.
Hangover cures are everywhere in Japan — but do they work?
By Thu-Huong Ha

SUSTAINABLE JAPAN

Azabudai Hills, Tokyo’s green new downtown ‘village’
Azabudai Hills, Tokyo’s green new downtown ‘village’

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