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November 24, 2024
 

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Yuki Kusumi, CEO of Panasonic Holdings, during an interview in Tokyo last week
BUSINESS / Companies
Jul 16, 2024

Panasonic managers need ‘sense of crisis’ over low profitability, says CEO

The comments are unusually harsh in Japan, and especially at Panasonic, where the notion of lifetime employment was embraced for years.
The production plant of GCL Technology in Xuzhou, Jiangsu province, China, on July 2
BUSINESS / Economy
Jul 16, 2024

Xi Jinping’s great economic rewiring is cushioning China’s slowdown

Tech advances and a resulting export boom have helped to keep economic growth within reach of its targeted pace of around 5%.
An employee checks on items at a Komehyo store in Nagoya.
BUSINESS / Companies
Jul 16, 2024

Thrift store operator Komehyo pushing to expand business overseas

The company hopes to become the world's top retailer of secondhand luxury brand items by tripling its overseas sales in four years.
Britain's Business, Energy and Industrial Strategy Secretary Jonathan Reynolds leaves at the end of a cabinet meeting at 10 Downing Street in London on July 9.
BUSINESS
Jul 17, 2024

New British trade minister optimistic EU trade barriers can be eased

While the newly elected Labour Party has pledged not to reopen the U.K.'s Brexit deal, it is aiming for a new agreement to reduce border checks on animal products.
Diaper products for babies and adults are displayed at a factory of Daio Paper's subsidiary Elleair in Fujinomiya, Shizuoka Prefecture, in June.
BUSINESS / Companies
Jul 17, 2024

Japan's diaper-makers look to adult market for revenue as births fall

Japan's population is likely to decline by about 30% to 87 million by 2070, with 4 people in every 10 at the age of 65 or more, estimates show.
Mizuho Securities is starting a fund to create opportunities for third-party investment into Japan's animation film sector that has created globally popular works such as "Demon Slayer."
BUSINESS / Companies
Jul 17, 2024

Mizuho fund to invest in Japan’s popular but cash-needing anime scene

For investors, Mizuho's fund will be an opportunity to park their money in a sector famous for works like "Demon Slayer."
A man walks past a store of luxury brand Burberry at a shopping mall in Beijing in 2021.
BUSINESS / Markets
Jul 17, 2024

Luxury brands feel the sting as Chinese growth slows

China accounted for 16% of $393.8 billion of global luxury spending last year, but the economy grew slower than expected in the last quarter.
Sanyo Shokai sells custom-ordered T-shirts from Spanish clothing brand Ecoalf using digital printing technology.
BUSINESS / Companies
Jul 18, 2024

Digital printing of clothes drawing attention in Japan

The process allows for small-quantity production and caters to customers' tastes more precisely.
U.S. pressure to slow Beijing’s advances in making semiconductors led the Netherlands to ban exports to China of ASML’s second-most advanced category of machinery at the start of the year. But ASML continues to service machines that were bought before the restrictions were in place.
BUSINESS / Companies
Jul 18, 2024

ASML falls as outlook clouded by risk of U.S. export curbs

ASML shares plunged 11% in Amsterdam on Wednesday to €870.90 ($952), wiping out €42.7 billion of market value — its biggest decline since March 2020.
Tools at an exploration site run by KoBold Metals in Chililabombwe, Zambia, on June 11. A complex AI-driven technology that data crunchers at KoBold Metals painstakingly built over years helped identify a copper bonanza deep below a site in Zambia, and the company’s process could radically transform the discovery of metal and mineral deposits critical not only to the tech industry but to the fight against climate change.
BUSINESS / Tech
Jul 18, 2024

AI joins search for needed metals just in time

KoBold’s find comes as the United States and China are increasingly clashing over global access to minerals.
The Nishiki market in Kyoto. June’s inflation report shows extraordinary jumps in the prices of some items favored by households, including cabbage (27.6%), potatoes (28.5%) and tomatoes (15.6%).
BUSINESS / Economy
Jul 19, 2024

Households struggle as Japan’s inflation rises near U.S. levels

Consumer prices in Japan rose 2.8% on the year in June, close to the 3.0% in the United States.
The 2024 presidential race throws another curveball at the markets with U.S. President Joe Biden dropping out of the race.
BUSINESS / Markets
Jul 22, 2024

How investors are reacting to Biden dropping reelection bid

Many investors are waiting to see who the new Democratic nominee will be, with some uncomfortable about the uncertainty.
The U.S. and its allies have accused China of supporting Russia's war in Ukraine, in part by exporting parts and equipment needed by Moscow's weapons makers, including semiconductors.
BUSINESS / Tech
Jul 22, 2024

Illicit chip flows to Russia seen slowing in China

Both mainland China and Hong Kong are seen by the U.S. government as key global nodes for Russia to source materials for its military.
A Maruti Suzuki India showroom in New Delhi. Suzuki hopes to grab 50% share of the Indian market by 2030, targeting 15% of its sales in India to be electric vehicles by that time.
BUSINESS / Companies
Jul 22, 2024

Suzuki sees India’s automobile market growing fivefold by 2047

Promising growth in the electric vehicles segment is putting the South Asian country's car market on track to reach 20 million units by 2047.
Brian Kim (center), founder of Kakao, arrives at the Seoul Southern District Court in Seoul on Monday.
BUSINESS / Companies
Jul 23, 2024

Arrest warrant out for Kakao founder in stock-rigging case

Brian Kim is facing accusations that he was involved in a stock-rigging scheme during the high-profile takeover of SM Entertainment in 2023.
Blackstone's private equity fund says Japanese individual investors are highly interested in alternatives and their understanding of the asset class is deepening.
BUSINESS / Markets
Jul 23, 2024

Blackstone Japan fund exceeds $1B as investors warm up to private equity

As inflation takes hold in the country, investors are exploring more alternative assets on government encouragement to invest more of their cash.
Nidec separately announced it signed a memorandum of understanding on Monday with Tata Elxsi, an Indian technology service provider, to develop software programs for India and other markets.
BUSINESS / Tech
Jul 23, 2024

Japan's Nidec lifts annual profit outlook after first quarter

The company raised its expectations for operating profit in the financial year to the end of March 2025 to ¥240 billion ($1.53 billion).
Amazon has launched an online service enabling customers in Japan to purchase prescription medications without having to visit physical pharmacies.
BUSINESS / Companies
Jul 24, 2024

Amazon Pharmacy goes live in Japan

Through the new service, Japanese consumers will be able to obtain medications without having to visit physical pharmacies.
Men inspect an electric car at a showroom in Riyadh in June. Although the EV market in Saudi Arabia remains small compared with the United States and China, it tripled last year to nearly 800 cars.
BUSINESS / Tech
Jul 25, 2024

EV adoption gathers steam in fossil fuel-rich Saudi Arabia

The kingdom's EV market tripled last year to nearly 800 cars, according to Saudi business news outlet Al-Iqtisadiyah.
Former U.S. President and 2024 Republican presidential candidate Donald Trump speaks during a campaign rally at the Bojangles Coliseum in Charlotte, North Carolina, on Wednesday.
BUSINESS / Economy
Jul 26, 2024

Trump wants a weaker dollar, but Wall Street doubts he’ll get one

Donald Trump has completely overhauled the Republican Party in his populist image and named a fellow strong-dollar skeptic as his running mate.
Ryo Ogawa (right), chief executive officer of Timee, and Tomoaki Yagi, chief financial officer, strike the trading bell during the company's listing ceremony at the Tokyo Stock Exchange in Tokyo on Friday.
BUSINESS / Companies
Jul 26, 2024

Shares of job app firm Timee jump in Japan stock trading debut

The stock surged to as high as ¥1,855 on the Tokyo Stock Exchange’s Growth market.
Nissan initially had an early-mover advantage when it launched the Leaf in 2010, the first electric vehicle by a major global manufacturer, but the company recently has been unable to leverage its EV edge.
BUSINESS / Companies
Jul 26, 2024

Nissan's global production cuts imperil CEO’s recovery plan

Nissan’s disappointing results only add to the challenges facing CEO Makoto Uchida.
Tokiko Shimizu, a former Bank of Japan executive director, is known as someone who broke glass ceilings after becoming the first woman to take various senior management roles at the BOJ, including branch manager in 2010.
BUSINESS
Jul 27, 2024

BOJ’s former top female executive takes gender fight to Japan’s schools

Tokiko Shimizu is launching her own consultancy to focus on bringing more women into STEM-related fields starting at the high school level.
Workers install a battery for an electric vehicle at a Mitsubishi factory in Kurashiki, Okayama Prefecture, in May 2022.
BUSINESS / Companies
Jul 28, 2024

Mitsubishi Motors to join Honda-Nissan alliance, Nikkei reports

The push comes as Nissan, Japan's third-largest automaker, has been steadily losing market share in its two biggest markets: the United States and China.
A crystallizer, used in the process of manufacturing nickel sulphate hexahydrate, stands at the BHP Group Kwinana Nickel Refinery in Kwinana, Western Australia, in 2019.
BUSINESS / Companies
Jul 29, 2024

Companies ‘paralyzed’ as Australia prepares tough climate rules

Over 6,000 companies in Australia will need to make fully comprehensive disclosures on emissions that include climate impacts across supply chains.
Joining the revolution brought by the era-defining release of ChatGPT requires a supply of cash that only tech behemoths like Microsoft can provide.
BUSINESS / Tech
Jul 29, 2024

AI startups swap independence for Big Tech's deep pockets

In the past few months promising companies have seen founders and key executives quietly exit the stage to join the world's dominant tech companies.
The Bank of Japan building in Tokyo on March 18. With the BOJ’s policy tightening, the difficulty of managing the country’s debt payments is expected to become worse.
BUSINESS
Jul 29, 2024

Japan expects to hit primary balance goal in fiscal 2025

The government initially aimed to achieve the goal in fiscal year 2011 but kept pushing it back for over a decade.
Toyota's global sales declined 4.7% in the first half of this year compared to the same period the year before.
BUSINESS / Companies
Jul 30, 2024

Toyota first-half sales fell even as hybrids and EVs gained in U.S.

Toyota’s global output — including that of subsidiaries Daihatsu Motor and Hino Motors — dropped 9.8% versus the first six months of 2023 to about 5 million units.
Japanese currency authorities spend ¥5.5 trillion to prop up the yen against the dollar in the past month.
BUSINESS
Aug 1, 2024

Japan spent ¥5.5 trillion to prop up the yen in past month

The latest action appears to have helped reverse the tide on the yen’s weakness.
Japan's personal mortgages are set to rise for the first time in a generation following the Bank of Japan's rate hike.
BUSINESS / Economy
Aug 1, 2024

Japan’s ultralow mortgages to see first increase in 17 years

Mitsubishi UFJ Financial Group said it plans to increase the short-term prime rate for the first time in 17 years in September.
U.S. aircraft carrier returns to Japan carrying navy’s ‘most capable fighter’
U.S. 7th Fleet Commander Vice Adm. Fred Kacher speaks to reporters shortly after the arrival of aircraft carrier USS George Washington at Yokosuka naval base in Kanagawa Prefecture on Friday.
Tokyo police care for lost umbrellas, keys and flying squirrels
An employee at the Tokyo Metropolitan Police Department Lost and Found Center in the Iidabashi area of central Tokyo bags, tags and organizes thousands of items.
After Shohei Ohtani bump, Iwate ironware maker sees brighter future
Kaito Kikuchi's decision to send superstar Shohei Ohtani one of his company's traditional ironware tea kettles has paid off with a surge of interest from general consumers.
Japan approves ¥21.9 trillion stimulus plan
The policy chiefs of the Democratic Party for the People, Liberal Democratic Party and Komeito — Makoto Hamaguchi (left), Itsunori Onodera (center) and Mitsunari Okamoto — shake hands after reaching an agreement on an economic stimulus package on Wednesday.
Woman dies after train collides with car in Tochigi
A Moka Railway train car
133-year-old Kyushu railway station remains to be partially preserved
The remains of the original Moji Station in Kitakyushu
After Shohei Ohtani bump, Iwate ironware maker sees brighter future
Kaito Kikuchi's decision to send superstar Shohei Ohtani one of his company's traditional ironware tea kettles has paid off with a surge of interest from general consumers.
Shohei Ohtani wins National League MVP award
Shohei Ohtani celebrates after hitting a three-run home run against the Padres during the National League Division Series at Dodger Stadium in Los Angeles last month.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.

Podcast

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

Longform

Construction takes place on the Takanawa Gateway Convention Center in Tokyo, slated to open in 2025.
A boom for business tourism in Japan?
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