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March 29, 2025
 

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BUDGETS

Cabinet ministers at the Prime Minister's Office in Tokyo on Friday
JAPAN / Politics
Dec 27, 2024
Japan's Cabinet approves ¥115.5 trillion budget
The proposal exceeded ¥110 trillion for the third consecutive year in order to increase spending on defense and social welfare costs.
A Japan Ground Self-Defense Force (JGSDF) Type 10 main battle tank fires ammunition during a live fire exercise at the JGSDF's training grounds in the East Fuji Maneuver Area in Gotemba, Shizuoka Prefecture, in May.
JAPAN / Politics
Dec 26, 2024
Japan set to approve record budget, spending more on defense and regions
While the government will have to lean heavily on debt issuance, record tax receipts will enable the cutting back of fresh bond issuance by almost a fifth.
Official prices of nearly half of drugs in Japan will be reduced to lower the burden on patients.
JAPAN
Dec 25, 2024
Japan ministers agree on price cuts for half of all drugs
Ministers also agreed to raise the upper limit on out-of-pocket medical expenses.
The United Nations headquarters in New York
JAPAN / Politics
Dec 25, 2024
Japan to stay the third-largest U.N. contributor
The share of Japan's contribution to the United Nation's regular budget will drop by about 1 percentage point from the current level to 6.930%.
Elbridge Colby (center) speaks at the Threat and the Strategy panel during the Air Force Association Air, Space and Cyber Conference in National Harbor, Maryland, in September 2019.
JAPAN / Politics
Dec 23, 2024
Trump's Pentagon policy pick pushed for Japan to spend 3% of GDP on defense
Elbridge Colby said in an interview earlier this year that Japan is moving at a leisurely pace on defense despite being under threat from China and North Korea.
U.S. House Speaker Mike Johnson speaks to reporters following the passage of spending legislation to avert a government shutdown, on Capitol Hill in Washington on Friday.
WORLD / Politics
Dec 21, 2024
U.S. Congress passes bill to avert shutdown
After weeks of tense negotiations that went down to the wire, U.S. lawmakers passed a bill to fund federal agencies through mid-March.
The plenary session of the House of Representatives, which passed the three political reform bills, in parliament on Tuesday
JAPAN
Dec 17, 2024
Japan enacts ¥13.9 trillion extra budget for fiscal 2024
The economic policy package aims to finance measures against inflation and disaster relief.
Yoichi Miyazawa (right), chair of the Liberal Democratic Party's tax panel, said Friday that both the LDP and Komeito have agreed to decide on the start date for higher income taxes at a later date.
JAPAN / Politics
Dec 13, 2024
LDP-Komeito bloc defers decision on income tax hike to boost defense budget
The bloc originally aimed to raise income tax rates in January 2027, but reconsidered following discussions with the opposition Democratic Party for the People.
Prime Minister Shigeru Ishiba (front right) bows as the fiscal 2024 supplementary budget bill is passed in parliament on Thursday.
JAPAN / Politics
Dec 13, 2024
Ishiba makes concessions to opposition to maintain power
The prime minister's minority government has endorsed opposition policies on tax and education to win their support for a supplementary budget.
The Lower House Budget Committee clears the 2024 supplementary budget on Thursday.
JAPAN / Politics
Dec 12, 2024
Lower House passes ¥13.9 trillion supplementary budget
Prime Minister Shigeru Ishiba’s minority government made concessions to the opposition to secure support for the budget, which includes an economic stimulus package.
Prime Minister Shigeru Ishiba delivers his policy speech at the Lower House on Nov. 29.
JAPAN / Politics
Dec 9, 2024
Japan's government submits ¥13.9 trillion extra budget for fiscal 2024
The budget will finance a comprehensive economic package that includes measures to tackle inflation and aid for areas affected by natural disasters in the Noto Peninsula.
"No matter who takes the helm, Japan’s fiscal discipline will worsen in a situation like this," said Mana Nakazora, a credit analyst on an economic panel advising Prime Minister Shigeru Ishiba.
BUSINESS / Economy
Dec 3, 2024
Japan needs a wake-up call on debt, government advisor warns
The advisor criticized the government’s decision to resume subsidies for utilities as part of the stimulus package.
Prime Minister Shigeru Ishiba arrives to deliver a policy address during a Lower House session in Tokyo on Friday.
BUSINESS / Tech
Nov 29, 2024
Japan earmarks extra ¥1.5 trillion for chips and AI this year
Japan is fighting to keep up in a global spending spree on cutting-edge tech led by China and the U.S.
Prime Minister Shigeru Ishiba during a G20 meeting in Rio de Janeiro on Nov. 18.
JAPAN
Nov 28, 2024
Japan to lean heavily on extra tax revenue to cover costs of extra budget
The extra budget will partly be funded by ¥3.83 trillion in higher-than-expected tax receipts and unused funds from the previous year.
Motohisa Furukawa, Democratic Party for the People tax chief, says the Bank of Japan is unlikely to move so quickly in raising rates that the move would have a detrimental impact on public borrowing costs.
BUSINESS / Economy
Nov 28, 2024
BOJ rate hike unlikely to derail budget planning, DPP tax chief says
Democratic Party for the People tax chief Motohisa Furukawa says it is "unthinkable” that the Bank of Japan will hike rates rapidly.
The sought ¥21.3 billion will be used for making the revised family register law widely known to the public and setting up call centers to receive questions from the public.
JAPAN / Politics
Nov 27, 2024
¥21.3 billion sought to help with adding phonetic readings in family registers
The planned funds will be used for making the revision widely known to the public and setting up call centers to receive questions from the public.
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.
BUSINESS / Economy
Nov 22, 2024
Japan approves ¥21.9 trillion stimulus plan
Combined with expected spending from the private sector, this year’s package is estimated to add a total of ¥39 trillion to the economy.
Workers repair a damaged road on Jan. 7 in the aftermath of an earthquake in Wajima, Ishikawa Prefecture.
JAPAN
Nov 14, 2024
New minister promises ample budget for disaster resilience
"Improving the country's resilience is an extremely important task," Hiromasa Nakano said in an interview.
The government aims to finalize an economic package later this month to help households hit hard by rising prices.
JAPAN
Nov 14, 2024
Japan eyes ¥30,000 benefits for low-income households
The planned economic package includes a proposal of ¥20,000 per child to the benefits, which are designed to support households hit hard by soaring prices.
The Lower House plenary session on Monday
JAPAN / Politics
Nov 13, 2024
Ishiba in for a bumpy ride as CDP takes Budget Committee post
In a rare move, the Liberal Democratic Party and its coalition partner, Komeito, conceded the Budget Committee post to the opposition.
Japan considers all possible options as Trump threatens new auto tariffs
Subaru cars awaiting export at a port in Yokohama on Thursday.
Massive quake kills at least 150 in Myanmar and Thailand
Medical workers treat a earthquake survivor on a bed in the compound of a hospital in Naypyitaw on Friday, after an earthquake in central Myanmar.
Student suicides in Japan hit all-time high
A volunteer handles an incoming call at the Tokyo Befrienders call center, a suicide hotline center in Japan's capital.
Tourist submarine sinks in Red Sea of Egypt, leaving 6 people dead
The interior of a Sindbad submarine vessel at sea off Hurghada, Egypt, in August 2024, in this still image obtained from video.
Yellow sand blankets cities across Japan
The Meteorological Agency forecast the yellow sand to move away from eastern Honshu by 6 p.m. on Wednesday. But it will continue to cover parts of western Honshu and Shikoku until Thursday morning, it said.
Recent spate of wildfires in Japan and South Korea linked to climate change
Smoke and flames rise from a wildfire in Andong, South Korea, on Tuesday.
Hanami season to have record ¥1.39 trillion economic impact on Japan
Cherry blossoms along a road in Tokyo on Tuesday. The 2025 cherry blossom season is expected to have an economic impact of around ¥1.39 trillion on Japan.
Tokyo Series proves to be big business for MLB — and Japanese companies
An advertisement featuring Shohei Ohtani in Tokyo.
New SDF command will be key for contingency planning, Australian commander says
A Maritime Self-Defense Force SH-60K "Super Auk" from JS Shiranui prepares to land on HMAS Brisbane during Exercise Malabar 2023 while off the coast of New South Wales, Australia.
Japanese wages likely to rise more than 5% again this year
Wages are set for another big increase this year as annual negotiations secure generous agreements.

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