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November 22, 2024
 

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ECONOMY

Unfortunately, the Bank of Japan kept monetary policy too tight after the 1985 Plaza Accord, leaving Japan mired in deflation and recession for two decades. 
COMMENTARY / World
Jul 21, 2024
Does the world need a Plaza Accord 2.0?
Unfortunately, the Bank of Japan kept monetary policy too tight after 1985 Plaza Accord and Japan was mired in deflation and recession for two decades.
Some 20% of Japanese companies have stropped creating medium-term management plans to respond more flexibly to changes in the business environment and achieve long-term goals, a recent survey has found.
BUSINESS / Companies
Jul 21, 2024
20% of Japan firms have no medium-term plans, poll finds
A survey found that about 10% of companies with medium-term plans are considering changing the duration of their plans or making other reviews.
The Bank of Japan's headquarters in Tokyo
BUSINESS
Jul 19, 2024
BOJ urged to halve bond buying in scheduled tightening plan, minutes show
A significant number of the participants also urged the BOJ to taper bond purchases gradually to avoid upending the bond market.
A screen displays an error message at a self-checkout terminal of a supermarket in Sydney on Friday.
JAPAN
Jul 19, 2024
Japan mostly spared in global IT meltdown despite reports of some bugs
Around the world, airlines, network broadcasts and banks said their systems were disrupted.
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.
Japan cut its economic growth forecast for the current fiscal year, reflecting weaker-than-expected private consumption.
BUSINESS / Economy
Jul 19, 2024
Japan cuts growth forecast as prime minister warns of weak-yen pain
The government cut its economic growth forecast for the current fiscal year ending in March 2025 to 0.9% from 1.3% projected in January.
More Japanese firms have gone bankrupt in the first half of this year due to soaring costs, labor shortages and the end of pandemic-related support.
BUSINESS / Economy
Jul 18, 2024
Triple whammy takes Japan bankruptcies to decade high
Soaring costs, labor shortages and the end of pandemic-related financial support are taking a heavy toll on smaller businesses.
Indian Ambassador Sibi George says one of his main tasks in his post is to boost Japanese public and private investments the South Asian powerhouse.
JAPAN / Politics
Jul 18, 2024
India’s envoy in Japan calls for boosted supply chain and defense cooperation
The ambassador’s remarks come after Indian Prime Minister Narendra Modi pledged to continue prioritizing ties with Japan.
The yen rose to the ¥155 range against the dollar, the highest in almost two months, in Tokyo on Thursday.
BUSINESS / Markets
Jul 18, 2024
Yen rally shakes markets, sending dollar to weakest level since May
There is ongoing speculation that authorities could intervene again to prop up the yen.
Japan's tradition of offering investors gifts is nice. But with the stock market at record highs, such perks are no longer needed.
COMMENTARY
Jul 18, 2024
It’s time Japan's shareholders buy their own wine
The practice by Japanese companies of giving gifts once served as a good way to encourage trading novices to dabble in the stock market.
Japan’s exports grew for a seventh consecutive month in June, government data has shown.
BUSINESS / Economy
Jul 18, 2024
Japan’s exports rise for seventh month, supporting growth
Exports gained 5.4% in June from a year ago, led by chip-making gear and nonferrous metals.
Unionists hold a rally in Tokyo in April. Households' real cash earnings have been falling year on year for more than two years, with the weakening of the yen making the situation only more difficult as prices of imported goods increase rapidly.
BUSINESS / Economy
Jul 17, 2024
Japan’s minimum wage might not budge much if corporate fears prevail
While households desperately need a big raise, smaller businesses might not be in a position to handle an increase as they struggle with the weak yen.
Taro Kono, Japan's digital transformation minister, speaks during an interview in Tokyo on Wednesday.
BUSINESS
Jul 17, 2024
Taro Kono says central bank needs to raise rates to lift yen
Kono’s remarks could add to pressure on the Bank of Japan’s policy board to raise interest rates when it meets at the end of this month.
The International Monetary Fund lowered its 2024 growth estimate for Japan by 0.2 point to 0.7%, citing temporary production suspensions at some automakers over their vehicle test cheating, as well as weak private investment.
BUSINESS / Economy
Jul 17, 2024
IMF cuts Japan's growth forecast, upbeat on consumption prospects
The IMF says it expects Japan's economy to expand 0.7% this year, down 0.2 percentage point from its forecast in April, after an 1.9% increase in 2023.
An electronic screen displays a graph showing yen exchange rates surging against the U.S. dollar amid an alert to the possibility of intervention in Tokyo on Friday.
BUSINESS / Economy
Jul 16, 2024
Japan keeps up yen warnings as two-day intervention suspected
Bank of Japan data released on Tuesday suggested Tokyo may have spent ¥2.14 trillion ($13.5 billion) intervening on Friday last week.
A worker at Sakai Seisakusyo prepares to transport metal rods at its factory in Kakamigahara, Gifu Prefecture, on July 8.
BUSINESS / Companies / FOCUS
Jul 16, 2024
Japan finds a 'stealth' cure for zombie businesses: Let them fail
The shift in thinking is a clear departure for a country that has typically sought to avoid bankruptcies and protect existing jobs at the cost of productivity.
Participants in a "cross-mentoring" training session held by sports club operator Renaissance share their concerns with female executives from other companies who serve as role models.
JAPAN / FOCUS
Jul 16, 2024
Japan intensifies efforts to address gender pay gaps
According to the labor ministry, the average monthly wage for full-time female workers last year was ¥262,600, about 75% of the ¥350,900 earned by men.
The Bank of Japan headquarters in Tokyo
BUSINESS / Markets
Jul 15, 2024
Yen’s woes seem too big for even a BOJ hike this month to solve
Despite a boost and a favorable drop in U.S. bond yields, the yen still ended last week up less than 2% against the greenback.
A supermarket in Tokyo. A Bank of Japan survey showed that 87.5% of respondents believe that prices will be even higher in one year's time.
BUSINESS / Economy
Jul 13, 2024
95% in Japan feel impact of rising prices, BOJ survey shows
The figure for June rose from the 94.4% reported three months earlier.
The Bank of Japan headquarters in Tokyo. Many analysts say the central bank would want to avoid rushing policy moves as policymakers probably don’t want to be seen as being forced to act to boost the currency.
BUSINESS / Markets
Jul 12, 2024
Yen jump eases pressure on BOJ to tighten its policy, analysts say
If the Bank of Japan raised interest rates and announced fewer bond purchases, it could risk being seen as only driven by the volatile yen.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Russia fired experimental ballistic missile at Ukraine, Putin says
Ukrainian firefighters work on a spot following an airstrike in Dnipro on Thursday.
Ishiba aggravates his own political failures with diplomatic faux pas
Prime Minster Shigeru Ishiba is greeted at the APEC summit in Lima by Canadian Prime Minister Justin Trudeau on Friday. The Japanese leader was criticized for remaining seated while meeting several world leaders at the event.
Japan's 3.31 million visitors in October set monthly record
Kiyomizu Temple in Kyoto in December 2023. Famous autumn leaf colors contributed to increased tourism demand last month from many markets across Asia, Europe and North America, the Japan National Tourism Organization has said.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
'Tokyo Swindlers': Get deep into the minds of real estate con artists
In Ko Shinjo's "Tokyo Swindlers," a group of con artists manipulates real estate giants into falsified deals within the highly competitive, quick market.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
Japanese expats in Asia find community through rugby
The Taiwan Fivewoods celebrate their victory at the 2023 Asian Japanese Rugby Cup in December of last year.
In Fukushima, a weekend of prose, poetry and translation
Aomori-based writer JJ Carter presented on tabletop gaming as creative inspiration for building characters and narratives.

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?
By Kathryn Wortley

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