The rising price of glutinous rice, which is used to make mochi rice cakes and mirin cooking rice wine, is casting a shadow over preparations for New Year’s celebrations.

This year’s purchase price for mochi manufacturers and distributors is more than double that of last year.

The reason is said to be the result of the decrease in the volume of glutinous rice on the market, as more glutinous rice farmers have switched to growing staple rice due to the rice shortage and price increases that have continued since 2024.

The demand for glutinous rice is at its highest around this time of year, as mochi rice cakes are essential for zoni soup dishes and mirin is indispensable for osechi New Year’s dishes. Retailers are struggling to keep prices in check.


3 times more expensive

Freshly made mochi rice cakes are lined up at a factory of Kouseido, a Japanese sweets company in Suminoe Ward, Osaka, on Dec. 17.

The purchase price of Saga Prefecture glutinous rice, which was used to make the mochi, was 2.5 to 3 times higher than last year.

“I’ve never seen such a surge in [glutinous rice] prices,” said Muneki Maeda, 60, the managing director of the company.

However, the company has only increased its small and cut mochi rice cake prices by about 10%, cutting into its profit margin, because it did not want to lose customers.

According to “Mochi no Tanaka-ya,” a mochi shop in Fukui City, this year’s purchase price of glutinous rice is about ¥1,000 per kilogram, about 2.5 times more expensive than three years ago. This year, the shop sells 1 “sho” (about 1.8 kilograms) of kagamimochi ceremonial rice cakes for ¥3,750, up from ¥3,000 last year.

“We’re in a difficult situation, but we’ll maintain affordable prices in order to protect the mochi food culture,” said Hidenobu Tanaka, 39, who runs the store.

The price of packed mochi also increased. According to a survey by the Internal Affairs and Communications Ministry, the national average retail price in previous years was around ¥700 per kilogram. In November, the price was ¥948, an increase of ¥229 compared to the same period last year.



Demand surges in Dec.

The demand for mochi surges in December, when people prepare for New Year’s celebrations.

According to the ministry, the monthly purchase volume of mochi per household of two or more people was 939 grams in December 2024. The amount is 4 to 22 times more than the volume purchased in other months, ranging from 42 grams to 221 grams.

The main production areas for glutinous rice include Hokkaido, Niigata Prefecture and Saga Prefecture. In recent years, the annual production of glutinous rice in Japan has been about 300,000 tons, or about 4% of the total rice grown in paddies in the country.

Unlike non-glutinous rice, which is eaten as a staple food, such as Koshihikari and Akita Komachi rice brands, glutinous rice is stickier and more difficult to control in terms of temperature and humidity after milling.

According to Shunsuke Orikasa, chief researcher at the Tokyo-based Distribution Economics Institute of Japan who is familiar with issues of rice distribution, the surge in rice prices that began in summer 2024 has caused glutinous rice farmers to switch to growing staple rice since spring.

As a result, there is now a shortage of glutinous rice, leading to price increases.

“The price increase is expected to slow down in January or later, but there won’t be a large drop in price,” Orikasa said.

Sato Foods Co., a major mochi manufacturer based in Niigata City, has raised the price of its packed mochi two times this year and plans to raise the price again of the products to be shipped in March and later.
The company said it is due to the rising price of glutinous rice.


Kagamimochi sales slow

The price of mirin, often used in New Year’s dishes, is also rising.
“Some [mirin] manufacturers have already raised the prices of their products, but others have not been able to do so,” said a representative of the national mirin association located in Aichi Prefecture that comprises mirin manufacturers.

“We would like to share information with each other while carefully watching the situation in January and later.”

At an Echizen-ya supermarket in Nishinari Ward, Osaka, the retail price of mirin is 10% higher than last year and packed mochi rice cakes are 20% higher.

According to Kazuhiko Horiuchi, the head of the supermarket’s business department, sales of packed kagamimochi are slower compared to previous years, apparently due to the price increase.

“Mochi and mirin are essential for New Year season,” said a 64-year-old woman living nearby. “I’ll reduce the amount of kagamimochi [I buy] to cope with the price increase.”
 
 

Immersive Fort Tokyo, a theme park in Tokyo’s Odaiba district that lets visitors step into the roles of popular animated characters, will close at the end of February, the operator said Thursday.

The facility will have been open for less than two years.

“We’ve concluded that the facility’s size is too excessive [for our business model],” said a statement by Katana Inc., a marketing company in Osaka City that operates the indoor park.

Immersive Fort Tokyo opened in March 2024, occupying part of the former Venus Fort shopping center that closed in 2022.

The park re-creates the settings of popular animation and stories, giving visitors an immersive experience of playing characters and interacting with cast members.

“We’ll take advantage of the expertise we’ve gained through running the facility [for our future business],” the statement said.
 
 

Bank of Japan Governor Kazuo Ueda on Thursday reiterated his readiness to continue raising interest rates from a 30-year high of around 0.75 percent, citing growing confidence in achieving the central bank's inflation target.

In a speech at a meeting of Japan's biggest business lobby in Tokyo, Ueda said the mechanism in which both wages and prices rise moderately -- a key factor affecting policy decisions -- will be maintained next year and beyond.

"Amid tightening labor market conditions, firms' wage- and price-setting behavior has changed significantly in recent years, and the achievement of the 2 percent price stability target, accompanied by wage increases, is steadily approaching," Ueda said at the event hosted by the Japan Business Federation, also known as Keidanren.

The speech came after the central bank last week raised its policy rate from around 0.5 percent to around 0.75 percent in a unanimous vote, and Ueda signaled possible further hikes depending on economic and price developments.

Ueda said Thursday that tight labor market conditions will boost the prospect of more pay hikes and inflation expectations have been heightening among households and companies.

Under such circumstances, the governor said the likelihood of Japan's economy returning to a "zero norm state," in which wages and prices hardly change, seems to have "decreased considerably."

Noting that real interest rates remain "at significantly low levels," Ueda said that if the bank's baseline scenario is realized, it will continue to raise the policy rate.

The bank expects underlying inflation, which strips away cost-push and other temporary factors, will be at a level consistent with its 2 percent target in the latter half of its three-year projection period until March 2028.

The BOJ faces the challenge of taking the policy rate to higher levels while carefully examining the effects of its gradual policy normalization after years of keeping borrowing costs depressed at rock-bottom levels to jolt the economy out of chronic deflation.

The governor said the central bank believes that adjusting the degree of monetary accommodation will support "long-term growth," thus providing confidence to businesses.

Ueda's latest remarks drew market attention after the yen weakened sharply against the U.S. dollar despite Friday's rate increase, a development that might otherwise have been expected to support the Japanese currency.

The initial market reaction to the speech was muted, with the dollar trading in the upper 155 yen range.

Since Prime Minister Sanae Takaichi took office in October, the yen has been under pressure amid concerns that her expansionary spending policy would further worsen Japan's fiscal health, triggering the selling of the currency and government bonds.

The yen's slide accelerated amid growing expectations that the BOJ would lift borrowing costs at a slower-than-expected pace, as Ueda offered no clear guidance on the timing or pace of future hikes in a press conference after the central bank's policy gathering, dealers said.

A weak yen is seen as a boon to Japanese exporters given that it inflates their profits made overseas when repatriated. But the negative side of yen depreciation has become more evident in recent years as resource-poor Japan has seen rising import costs hurting both businesses and consumers.

Takaichi's government is seeking to ramp up investment to make the economy stronger while easing the inflation pain felt by households.

Earlier on Thursday, a government advisory panel on economic and fiscal policy began discussions to draft a new policy blueprint, with Takaichi vowing increased fiscal spending but in a "responsible" way.

The blueprint, the first of its kind under Takaichi, is expected to be finalized around June, feeding into the compilation of the budget for fiscal 2027.
 
 

Japan's business leaders have offered a mixed response to the government's draft budget for fiscal 2026, which was adopted at a cabinet meeting on Friday.

Yoshinobu Tsutsui, chairman of the Japan Business Federation, or Keidanren, the country's biggest organization of employers, said that the draft budget "includes many measures to realize a strong economy," which is a goal set by the administration of Prime Minister Sanae Takaichi.

The Keidanren chairman hailed the draft budget for embodying a direction in which the public and private sectors will collaborate to promote both crisis management investment and growth investment with the aim of boosting potential growth.

Tsutsui also stated that the partial implementation of social security system reforms reflected in the draft budget would curb the rise in insurance premiums for the working generation.

Ken Kobayashi, head of the Japan Chamber of Commerce and Industry, said that the draft budget "involves policies to improve regional earning capabilities, such as providing support for startups and business succession."
 
 

Fast Retailing Co, the operator of the Uniqlo clothing chain, said Monday its group will hike the starting salary of new employees in Japan to 370,000 yen from 330,000 yen, raising it for the second consecutive year to spur competitiveness.

Uniqlo, GU, PLST and Link Theory are set to take on roughly 480 new graduates in the spring and the 40,000 yen hike is for those hired in management candidate programs that often involve overseas transfers.

It is the fourth hike such employees have received since 2020, with their wages growing by 160,000 yen over the six years. Their annual income, including bonuses, is expected to be around 5.9 million yen, up 12 percent from the current rate.

Employees assuming jobs that do not require relocation will receive a starting salary of 280,000 yen, up from 255,000 yen.
 


 

The government has adopted a package of about 20 measures related to curbing mega solar power development projects to address concerns about environmental damage and potential disaster risks.

The measures, which were adopted on Tuesday at a meeting of relevant Cabinet members, include amending relevant legislation, bolstering monitoring systems and abolishing support for new large-scale solar power plants.

As part of measures to strengthen legal regulations, the government will lower the minimum 30,000-kilowatt threshold for mandatory environmental assessments, while also looking into expanding the scope of the inspections.

The government will also create a mechanism in which a government-certified organization will verify in advance if planned solar power plants comply with relevant technical standards.

To make this requirement mandatory for the operators of solar power plants with an output of 10 kilowatts or more, the government aims to submit a bill to amend the Electricity Business Law during the ordinary Diet session next year.

The package also includes expanding restricted areas in the Hokkaido’s Kushiro Shitsugen National Park, the Japan’s largest wetland and surrounding hills, and reviewing the applications of the Protection of Cultural Properties Law, the Landscape Law and other relevant laws.

Starting in fiscal 2027, mega solar power plants with an output of 1,000 kilowatts or more will become ineligible for the feed-in premium program, a support system in which producers receive a fixed premium on top of the market price for electricity generated.

On the other hand, the government will increase incentives for developing or introducing next-generation perovskite solar cells and rooftop solar systems, as they have a smaller environmental impact.

After the 2011 Great East Japan Earthquake, mega solar power plants were built one after another across the country. In fiscal 2012, the administration led by the then Democratic Party of Japan introduced a support system in which power companies purchased electricity generated by renewable energy producers at higher than market price as part of efforts to promote renewable energy.

However, now that solar power generation has grown to account for about 10% of the overall electricity output in the country, the government decided to review the support system, and concluded that it has already to some extent played its role in expanding renewable energy usage.
 
 

Nippon Steel Corp. said Tuesday its wholly owned subsidiary, United States Steel Corp, will invest $350 million to revamp its largest blast furnace, part of the $11 billion investment the Japanese company promised to the U.S. government in winning approval for the acquisition of the U.S. steelmaker.

U.S. Steel said relining blast furnace No. 14 at the Gary Works plant in Indiana, which produces iron for high-strength steel, is "critical maintenance" needed to ensure long-term iron-making capabilities and capacities.

Seeing the United States as one of its key growth markets, Nippon Steel acquired the iconic U.S. steelmaker in June in a $14.1 billion transaction.

The deal was finalized after the Japanese steelmaker pledged to invest approximately $11 billion in the U.S. company through 2028 in an effort to win over support from the administration of U.S. President Donald Trump.

Nippon Steel said in its new medium- to long-term management plan released earlier this month that it aims to invest around 6 trillion yen ($38 billion) over the next five years domestically and globally to upgrade U.S. Steel facilities.
 
 

The Japanese government said Tuesday that it will resume bilateral economic aid for Syria after 15 years of suspension.

Through its official development assistance scheme, Japan plans to support the Middle Eastern country, now led by the interim government of Ahmed al-Sharaa, including in personnel training.

Yohei Onishi, Japanese parliamentary vice minister for foreign affairs, visited Damascus and notified the aid resumption on Monday.

Japan suspended its economic aid to Syria after the Syrian civil war started in 2011. Since then, it has only provided humanitarian aid through nongovernmental organizations and international institutions, including the Office of the U.N. High Commissioner for Refugees.

Following the collapse of Bashar al-Assad's regime, the interim government was launched in December 2024. The Japanese government believes that efforts toward national reconciliation are progressing in Syria.
 
 

Rakuten Group is expanding its AI team under the stewardship of a Google veteran and building models with a focus on cost efficiency.

Ting Cai, now three years into his tenure at the head of the e-commerce pioneer’s artificial intelligence team, has the task of creating AI systems that would augment the company’s many businesses and support the handling of commercial transactions at a minimal cost. He oversees a team that’s grown to 1,000 this year and has a battery of “thousands” of Nvidia chips to work with.

Tokyo-based Rakuten is wrestling with a struggling mobile business and constant competition in online shopping, both of which could get a significant boost from effective deployment of new AI tools.

But the emphasis on doing that profitably from early on is where the company stands out from other large tech firms.

“Rakuten is very business-focused, applying the latest tech to solve customer problems,” Cai, 53, said in an interview. “In order to do this at large scale, we have to deliver the maximum margin. That’s why reducing the cost is super important for us in deploying generative AI.”

Cai’s team last week unveiled version 3 of the company’s large language model, which it says is 90% cheaper to run than existing comparable LLMs.

The company segments tasks down to simpler jobs and develops smaller models catered to addressing specific needs for each of its services.

Version 3 activates about 40 billion parameters for each individual token within its 700 billion parameters, while the remaining parameters stay inactive for increased efficiency.

AI functions contributed ¥10.5 billion ($67 million) to operating income in 2024, and the company aims to double that figure this year. Intelligent ad targeting and placement have boosted the return-on-investment for sellers using Rakuten’s online storefront, while AI-powered semantic search and personalized recommendations have lifted user engagement and click-through rates.

“We have observed that users come back more often after using the Rakuten AI Ichiba,” Cai said, referring to the full name of Rakuten’s virtual shopping mall. “So what we need to do is further reduce the cost of these conversations. We want each purchase through conversation to be profitable.”

Before Rakuten, Cai worked on Google Maps and local search services at Alphabet, following a long stint as a software engineer at Microsoft.

He wasn’t too familiar with Rakuten when an executive at the Japanese company contacted him about a job. It was a “strange company” to Cai at first, he said, but after learning about founder and CEO Hiroshi Mikitani and holding a few conversations with the man himself, Cai realized the two had a lot in common.

The job has turned out to be much more than what Cai believed he was signing up for, he said. His role has grown into a pivotal one for a company committed to integrating AI across its broad range of services, spanning everything from a mobile assistant to autonomous delivery vehicles.

He is proud of the work his team has accomplished building from the ground up, and Rakuten’s long-term vision includes having business customers tapping its AI tools and expertise.

“A lot of people are already depending on Rakuten. But I think we can do so much more than that,” Cai said. “Rakuten’s goal is to become Japan’s leading AI empowerment company.”
 
 

Fast Retailing Co, the operator of the Uniqlo clothing chain, said Monday its group will hike the starting salary of new employees in Japan to 370,000 yen from 330,000 yen, raising it for the second consecutive year to spur competitiveness.

Uniqlo, GU, PLST and Link Theory are set to take on roughly 480 new graduates in the spring and the 40,000 yen hike is for those hired in management candidate programs that often involve overseas transfers.

It is the fourth hike such employees have received since 2020, with their wages growing by 160,000 yen over the six years. Their annual income, including bonuses, is expected to be around 5.9 million yen, up 12 percent from the current rate.

Employees assuming jobs that do not require relocation will receive a starting salary of 280,000 yen, up from 255,000 yen.
 

 

Japan will take "appropriate steps against excessive moves" in the yen, the country's top currency diplomat said Monday, after the currency fell sharply against the U.S. dollar even in the wake of the Bank of Japan further raising its policy interest rate last week.

"We are concerned about one-sided and rapid moves" of the yen, Atsushi Mimura, vice finance minister for international affairs, told reporters after the yen slid to a one-month low of 157.78 against the dollar in New York on Friday.

Separately, Japan's top government spokesman Minoru Kihara echoed the sentiment, saying on Monday, "It is important for currencies to move in a stable manner reflecting (economic) fundamentals."

Kihara, the chief cabinet secretary, told a news conference the government would respond to foreign exchange developments, including those driven by "speculators."

Their remarks followed similar warnings issued by Finance Minister Satsuki Katayama on Friday, which some market participants viewed as jawboning to stem the yen's slide.

While a weaker yen inflates Japanese exporters' overseas earnings in yen terms, it also drives up import costs for the resource-poor nation, weighing on households through higher living costs.

The yen came under pressure after BOJ Governor Kazuo Ueda refrained from providing clear clues on future interest rate hikes after the central bank raised its policy rate to a 30-year high at around 0.75 percent.

At noon, the U.S. currency fetched 157.42-43 yen compared with 157.70-80 yen in New York and 156.73-75 yen in Tokyo at 5 p.m. Friday.
 
 

 

Uniqlo owner Fast Retailing will raise base salaries for new graduates in Japan by as much as 12%, stepping up efforts to secure and retain talent as the country’s workers grapple with inflation.

Annual pay will grow by about 12% to ¥5.9 million ($37,400) starting in March for university graduates in management-track programs, the Tokyo-based retailer said in a statement Monday.

Pay for other graduates will increase by about 10% to ¥4.5 million.
"By fostering a virtuous cycle of growth and wage increases, Fast Retailing aims to boost overall productivity and achieve sustainable growth for the company,” the company said.

Fast Retailing implemented a similar wage hike in 2023, bumping up annual pay for full-time employees in Japan by as much as 40%.

The firm’s moves underscore a broader shift toward higher salaries in corporate Japan as labor shortages intensify and consumer prices reach levels not seen in decades.

The average wage in Japan was $49,446 in 2024 — the lowest level of the Group of Seven nations, Organisation for Economic Co-operation and Development data show — amid decades of economic stagnation.

The U.S. had the G7’s highest level, $82,993, according to the OECD.
 
 

Toyota Motor Corp said Friday it will aim to import to Japan three models built in the United States from next year, in an apparent response to U.S. President Donald Trump's calls to reduce his nation's trade deficit with Japan.

"By selling these three popular American models in Japan, Toyota will be able to meet the diverse needs of a broad range of customers, while also helping to improve Japan-U.S. trade relations," Toyota said in a press release, unveiling the plan to sell the Camry sedan, Highlander SUV and Tundra pickup truck in the company's home market.

Honda Motor Co and Nissan Motor Co are also looking into shipping vehicles built in the United States to Japan for the same reason, sources close to the matter said earlier.

Toyota's Highlander and Camry were sold in the Japanese market until 2007 and 2023, respectively. The Tundra will be launched in Japan for the first time, with Toyota hoping to tap demand from outdoors enthusiasts attracted to the pickup's rugged image.

"As part of preparations to introduce these models to Japan, Toyota will also make use of a new system being considered by the Ministry of Land, Infrastructure, Transport and Tourism following bilateral negotiations," Toyota said.

According to a fact sheet released by the White House following a summit between Trump and Japanese Prime Minister Sanae Takaichi in October, the Japanese government committed to a system that would "accept for sale" U.S.-manufactured and U.S. safety-certified vehicles "without additional testing."

"Toyota plans to export its U.S.-made vehicles to Japan and open its distribution platform in Japan to U.S. automakers," the fact sheet said.

Trump has long been critical of what he sees as trade barriers that restrict sales of American-made cars in the Japanese market, though industry experts point to factors such as consumer preferences as an explanation for the unpopularity of vehicles imported from the United States.

To address the trade imbalance, Trump imposed a tariff of 27.5 percent on imported Japanese cars, far higher than the previous 2.5 percent.

The rate on vehicles from Japan was negotiated down to 15 percent in September but still impacted the earnings of major Japanese automakers, including Toyota.
 
 

The government has estimated the 2025 Osaka-Kansai Expo generated an economic impact of about ¥3.6 trillion, more than ¥650 billon higher than the previous estimate conducted before the event, according to sources.

The latest estimate is the first to reflect the actual circumstances of the expo, such as visitor numbers and consumption trends during the event period from April to October. It will be used to assess the overall results of the Expo.

The government is making arrangements to submit the estimate to officials related to the Expo soon.

In 2024, the government estimated the Expo’s economic impact would be about ¥2.9 trillion. The surge in consumption, particularly of official merchandise, boosted the economic impact.

Similar to the previous estimate, the government analyzed the Expo’s impact on production and consumption based on three criteria: investments in construction, such as expenses for building the venue; effects from organizing the Expo and related events; and visitor spending. Visitor spending showed the greatest increase, reaching about ¥1.7 trillion, which exceeded the previous estimate by about ¥330 billion.

The previous estimate referred to data such as consumption patterns from the 2005 Aichi Expo, and projected the economic impact based on an assumption of achieving a target of about 28.2 million visitors.

In contrast, the latest survey took the actual attendance of about 25.58 million visitors into account. It estimated the consumption spending for shopping, dining and tourism both inside and outside the Expo based on a visitor survey.

Meanwhile, the impact from construction investment rose by about ¥300 billion from the previous estimate to about ¥1.1 trillion, and effects from organizing the Expo and related events rose by about ¥20 billion to around ¥700 billion. In total, the latest estimate rose by more than 20% from 2024.
 
 

 

Toyota Motor Corp has launched a new RAV4 model, installing for the first time a new software system that will enable customers to upgrade their vehicles without having to buy a new one.

The latest RAV4, symbolic of Toyota's push for software-centric vehicles, is available in plug-in hybrid, set to be launched within fiscal 2025, and hybrid electric models. The automaker does not provide a gasoline-powered version of the popular SUV.

Toyota said it plans to sell 3,000 units of the hybrid model per month in Japan, priced from 4.5 million yen.

The sixth-generation RAV4 can receive updates that add new features or enhance existing ones under the Arene software development platform, which was used to develop the cockpit system and advance safety technologies.

As part of safety functions designed to avoid and mitigate collisions, the vehicle can quickly detect deceleration by preceding vehicles and automatically apply the brakes, according to Toyota, which carried out the first revamp of the flagship SUV in over six years.

The launch comes amid the growth of software-centric vehicles from automakers including U.S.-based Tesla Inc and Chinese EV makers.

The RAV4, first released in 1994, helped drive the SUV trend and is especially popular in the United States. Toyota sold about 1.04 million units globally in 2024, accounting for around 10 percent of the automaker's total sales.
 
 

Japan's core consumer prices in November rose 3.0 percent from a year earlier, driven higher by food and energy prices, government data showed Friday.

The increase in the nationwide consumer price index (CPI), excluding volatile fresh food, followed a 3.0 percent rise in October.

 

The inflation rate, a key indicator for the Bank of Japan in determining the timing of rate hikes, has remained at or above the central bank's 2 percent target since April 2022.

Core-core CPI, which strips away both energy and fresh food to reflect underlying price trends, increased 3.0 percent in November.

 

Food prices, excluding fresh items, climbed 7.0 percent, while energy prices climbed 2.5 percent.

A food vendor attracts customers in Tokyo, Japan, Dec. 18, 2025.

 

Japan's core consumer prices in November rose 3.0 percent from a year earlier, driven higher by food and energy prices, government data showed Friday.
 

The first official shop in Southeast Asia for the Tomica miniature car series opened on Thursday in Kuala Lumpur.

Tomy Co., better known as Takara Tomy, opened the shop at a commercial complex in central Kuala Lumpur. This is the second foreign country in which the manufacturer has opened a store, after China.

Products at the Kuala Lumpur store are sold for prices equivalent to about ¥1,100 to ¥3,000. The items are manufactured in Vietnam.

The company previously sold Tomica cars in Malaysia and other Southeastern Asian countries via sales agents. With the launch of its official shop, Tomy aims to raise awareness of Tomica cars in the region and eventually open more stores in nearby countries.

“We hope we can fascinate not just children, but also adult collectors [of our Tomica cars],” said a Tomy official who attended an opening event at the new shop.
 
 

The government has launched efforts toward public-private collaboration with Europe, Southeast Asia and Australia to strengthen economic security.

It aims to counter China’s repeated aggressive behavior by advancing international cooperation in industries where Japan holds strengths — including space, undersea cables and defense.

In late November, about 70 representatives from the Japanese and German governments and defense-related companies attended a closed-door meeting in Berlin.

They discussed technologies to neutralize suspicious unmanned aerial vehicles and the utilization and sharing of satellite data, confirming that they would move forward with business cooperation in these fields.

Drones have been used in Russia’s invasion of Ukraine and “significantly changed the nature of warfare on the battlefield,” according to a senior Defense Ministry official.

Unmanned aerial vehicles believed to belong to the Chinese military have flown near Japanese waters. In this regard, Japan and Europe share similar concerns.

Japan held similar meetings in Indonesia and Australia from October to November, creating a bridge between their governments and businesses. In Jakarta, officials from NEC Corp., Mitsubishi Electric Corp. and space-related companies attended the meeting.

“As maritime nations, we can cooperate in the management and surveillance of remote islands using satellite technology,” a Japanese attendee said.
Indonesia’s former Ambassador to Japan Heri Akhmadi said that his government wants to promote not only defense cooperation but also technological exchange.

A joint venture between NTT Docomo, Inc. and NEC signed a contract with a local telecommunications company in Indonesia in November, achieving results such as cooperation in telecommunications network development.

“This could be something to counter Chinese telecommunications companies,” a Japanese government official said.

About 100 people attended the meeting in Canberra and confirmed industrial cooperation to strengthen supply chains for rechargeable batteries and critical minerals needed for adopting renewable energy. They also agreed to advance defense industry cooperation, including in drone manufacturing.

Increased dependence on China carries risks; information may be extracted from Chinese-made communication networks, or critical mineral exports may be suspended. Economic coercion is a common challenge faced by many nations, not just Japan.

The government believes hat these efforts not only strengthen the economic security of partner nations but also “contribute to the reinforcement of Japan’s industrial base through the provision of technology and products,” said Economy, Trade and Industry Minister Ryosei Akazawa.

Japan plans to further expand cooperation with Europe, Southeast Asia and other regions in the future.
 
 

 
Financial assets held by Japanese households as of the end of September grew 4.9 pct from a year earlier to 2,286 trillion yen, hitting a record high for two quarters in a row, Bank of Japan data showed Wednesday.

The balance improved for the 11th straight quarter, reflecting higher stock prices and a rise in the yen value of foreign currency-denominated assets due to a weaker yen.

Shares held by households soared 19.3 pct to 317 trillion yen. Investment trust funds jumped 21.1 pct to 153 trillion yen thanks to the new Nippon Individual Savings Account tax exemption program for small-lot investors.

Insurance policies saw a rise of 2.0 pct to 416 trillion yen, supported by a higher valuation of foreign currency-denominated products.

The balance of cash and deposits edged up 0.5 pct to 1,122 trillion yen.
 
 

 
IBM Japan President Akio Yamaguchi has been chosen to succeed Takeshi Niinami as chairman of the Japan Association of Corporate Executives, known as Keizai Doyukai.

Yamaguchi, 61, is set to take the position after his appointment was approved in principle at a board meeting on Tuesday. He is expected to be formally installed after a vote at the organization’s general meeting of members.

Yamaguchi was appointed following the resignation of Niinami, who stepped down on Sept. 30 after controversy over supplements that were suspected of containing illegal ingredients.

Yamaguchi is set to hold the position until March 2026, and then two additional two-year terms that will begin in April 2026.

Yamaguchi joined IBM Japan in 1987 and became president in 2019. He has served as a vice chairman at Doyukai since 2022, and will be only the second person from IBM Japan to lead the organization, following Kakutaro Kitashiro who served in the role from fiscal 2003 through fiscal 2006.

Doyukai is one of Japan’s three major business groups, alongside Keidanren (Japan Business Federation) and the Japan Chamber of Commerce and Industry.
 
 

A quarterly survey of major Japanese manufacturers released Monday shows business sentiment improving to its best level in four years, even after President Trump raised tariffs on goods from the U.S. ally to a baseline level of 15%.

The Bank of Japan is bound to take the results of its quarterly “tankan” survey into account during a policy meeting this week, when it is expected to raise its benchmark interest rate. Analysts said the stronger results may sway the BOJ toward pressing ahead with a 0.25 percentage point rate hike that will take the key rate to 0.75%.

That expectation hit the price of bitcoin early Monday, as it dipped below $88,000 from about $92,000. Higher rates would likely lead Japanese investors to shift funds back home, sapping demand for cryptocurrencies.

While the U.S. Federal Reserve has been trimming rates to counter a weak jobs market, Japan’s central bank is moving in the other direction as it contends with inflation and a weak currency. The economy contracted at an annualized rate of 2.3% in July-September.

Still, the BOJ survey showed the measure of major manufacturers expressing optimism rose to 15 from 14 in the last quarter, the highest level in four years. The index shows the percentage of companies reporting positive conditions minus the percentage reporting unfavorable ones.

The measure of sentiment for all companies rose to 17 from 15, it said.
The survey “struck all the right notes from the Bank of Japan's perspective,” Abhijit Surya of Capital Economics said in a report. “It showed that business conditions are improving, profit margins remain elevated and firms are upbeat about their investment intentions.”

The latest deal between Japan and the Trump administration set tariffs on its exports to the U.S. at 15%, down from an earlier plan for a 25% tariff. To win the agreement, among other things Japan promised to invest $550 billion in the United States.

While the BOJ's overall survey showed improvement, forecasts for the next quarter were less positive, and businesses expected inflation to remain at 2.4%, above the central bank's target range.

The Bank of Japan has kept its key interest rate near or below zero for years, trying to spur faster economic growth by keeping borrowing costs very low.
Its policymaking has been complicated by the fact that Japan's population is shrinking and aging rapidly.

That has caused labor shortages that have only slowly pushed wages higher. That should lead consumers to spend more, but increases in income have lagged behind inflation, denting their appetite for spending.

Prime Minister Sanae Takaichi has pledged, as have her predecessors, to revive the economy. Last month, her cabinet approved a 21.3 trillion yen ($135.4 billion) stimulus package to spur growth through expansionary government spending and relieve the impact of higher prices.
 
 

Masayoshi Son reduced the SoftBank Group shares he’s pledged to lenders by $2.1 billion in recent months, lowering his collateral after bets on artificial intelligence propelled the latest comeback in his volatile technology fortune.

Son trimmed his committed shares by 19.4 million to around 154.2 million, according to a filing earlier this month. About 31% of Son’s holdings in the Tokyo-listed company are now pledged to banks, down from near 39% in March 2020, data compiled by Bloomberg show.

The bulk of Son’s $35.3 billion fortune derives from a stake of just over a third in SoftBank, the Tokyo-listed conglomerate he founded that oversees a global empire of investments from chipmakers to startup ventures. SoftBank shares surged almost 200% to peak at the end of October on the back of an AI frenzy.

Shares have given up some of the gains lately on fears of a bubble in the sector, but are still heading for the biggest yearly gain since 2013.
A Singapore-based investment firm ultimately controlled by Son now holds $1.1 billion of SoftBank stock, according to the same filing, a departure from the billionaire’s previous management of his shares via Japanese entities.

Son has historically used shares in the group he founded as collateral for loans with lenders including Mizuho Financial Group, Deutsche Bank and Julius Baer Group, and has frequently transferred shares among different entities he controls.

A spokesperson for SoftBank declined to comment.

Son has been aggressively expanding his bets, making bold investments in AI hardware companies like Nvidia, which he later offloaded, and Taiwan Semiconductor Manufacturing Co., briefly turning him into Japan’s richest person earlier this year.

When SoftBank’s stock was trading around ¥25,000 ($160.57) per share in October, Son probably took "advantage of the value the shares have reached to take them off the pledges,” said Amir Anvarzadeh, a market strategist at Asymmetric Advisors in Singapore.

"But since then, they have been coming under a lot of pressure,” said Anvarzadeh, who recommends clients to short the stock.

Singapore-based SAM Wealth Management Pte borrowed 10 million SoftBank shares, worth about $1.1 billion, from a Japan-based parent company that is also controlled by the billionaire, according to the Dec. 5 filing.

The filing doesn’t detail the rationale behind the stock loan agreement between the two entities, but the transaction is a reminder of the complex web of relationships that have long underpinned one of Japan’s largest and most volatile fortunes.

The Singapore wealth firm was incorporated in 2021 and is fully owned by Son Asset Management, a Japanese entity that holds a 1.9% stake in SoftBank.

Son’s Singapore investment entity is headquartered at the city’s Raffles Place financial district. To fund its operations, it has borrowed from banks, including facilities backed by an aircraft. It did not disclose further details.

"With SoftBank shares up so much this year, there could be an opportunity for him to renegotiate with banks on terms for collaterals on the money that he’s borrowed,” said Kirk Boodry, a Bloomberg Intelligence analyst in Hong Kong who’s covered the Japanese tech firm for more than fifteen years.
 
 

The Confederation of Japan Automobile Workers' Unions compiled a draft proposal on Friday to seek a monthly pay scale hike of at least 12,000 yen in next year's "shunto" spring wage negotiations.

JAW, which consists of labor unions of auto-related companies, will maintain demands as strong as last year to sustain momentum for pay raises, despite challenges in the industry stemming from high tariffs imposed by the administration of U.S. President Donald Trump.

Last year, the group requested a hike of exactly 12,000 yen.
"More than 12,000 yen is not just a request," said Akihiro Kaneko, president of the group, at a press conference in Tokyo. "I am committed to making it a reality."

After the proposal is formally adopted at the group's central committee meeting on Jan. 15, member labor unions will submit their wage requests to management.
 
 

Japan is considering allocating about 9 trillion yen ($58 billion) for next fiscal year's defense budget, including plans to deploy long-range missiles and drones, sources close to the matter said Friday.

The figure would surpass the record 8.7 trillion yen in the initial budget for the current fiscal year starting April, as Japan faces mounting security challenges from China and North Korea and U.S. President Donald Trump's demands for higher security spending.

The government's draft initial budget for fiscal 2026, the fourth year of its five-year, 43-trillion-yen defense buildup plan, is expected to be approved by the Cabinet led by Prime Minister Sanae Takaichi later this month, according to the sources.

The defense outlays would include costs to procure hypersonic guided missiles that travel at speeds above Mach 5, five times the speed of sound, and to upgrade medium-range surface-to-air missiles to intercept ballistic missiles, the sources said.

Japan also plans to acquire drones to build the "Shield" layered coastal defense system by deploying numerous inexpensive unmanned aerial, surface and underwater vehicles, the sources added.

Since taking office in October, Takaichi has pledged to bring forward Japan's goal of raising defense spending and related initiatives to 2 percent of gross domestic product by two years, to fiscal 2025.

The United States, meanwhile, has reportedly pressed Japan behind the scenes to increase its defense spending to 3.5 percent of GDP, as China steps up military activity in the Indo-Pacific region and North Korea continues its missile and nuclear development.

Before Japan drafted its five-year defense buildup plan, the annual defense budget had long been capped at around 1 percent of GDP, or roughly 5 trillion yen.
 
 

The government and the ruling Liberal Democratic Party intend to raise the “annual income barrier” — the income threshold for the imposition of income tax — from the current level of ¥1.6 million to ¥1.78 million.

The LDP, the Democratic Party for the People and Komeito originally agreed in December 2024 to seek this change. The government and the LDP will continue coordinating with the DPFP and other parties on this issue, aiming to raise the threshold as one of the tax system revisions for fiscal 2026, which starts in April.

Income tax rates range from 5% to 45%. The amount of income tax an individual must pay is calculated based on the total amount of income they earn after subtracting basic deductions, employment income deductions and other deductions.

Until 2024, the threshold at which income tax was imposed for company employees and other salaried workers was set at ¥1.03 million, which was the combined minimum guaranteed amount of the basic and employment income deductions.

This “¥1.03 million barrier” was widely criticized for supposedly encouraging people to work fewer hours to avoid paying taxes. Although the threshold was increased to ¥1.6 million from 2025, the DPFP has called for this figure to be bumped up further.

In light of demands by the DPFP and other factors, the government and the LDP plan to address rising prices by further raising the annual income barrier as part of the fiscal 2026 tax system revisions.
 

 

The government and the LDP are aiming to introduce a system under which the basic and other deductions would be revised every two years, based on the rate at which consumer prices have increased since the last revision.

Given that prices have increased by about 6% over the past two years, this would equate to the basic deductions being raised from the current ¥580,000 to ¥620,000. The minimum guaranteed amount of the employment income deductions would rise from ¥650,000 to ¥690,000.

Furthermore, the government and the LDP are arranging for the additional basic deductions for low-income earners to be increased from the current ¥370,000 by ¥100,000.

This would bring the income tax threshold up to ¥1.78 million. This move would be a nod to the DPFP, which has pushed for the threshold to be brought to this level based on the rate of increase in the minimum wage in recent years.

However, the DPFP is seeking to have deductions increased for middle-income earners as well as for low-income earners, so whether the party can agree on the proposed changes will become a key focus of attention.

The LDP and DPFP will continue working-level talks on matters such as to what level of income the increased deductions should be applied, with the aim of including their conclusions in the ruling parties’ outline of their planned tax system revisions, which could be compiled as soon as next week.

Discussions in fiscal 2025 between the then LDP-Komeito ruling coalition and the DPFP over tax system revisions such as raising the annual income barrier became bogged down over issues including finding new revenue sources.

The ruling parties were forced to tweak their previously agreed-on tax system revisions and settled on a threshold of ¥1.6 million.
 
 

In Japan, there’s a common practice of supermarkets and takeout places discounting leftover items as they get close to closing time.

It’s a win-win-win policy, as consumers get to save a little cash, the store gets to make some extra sales, and the reduction in food waste is a plus for the environment too.

Since these discounts are for leftover items, though, you can’t necessarily count on them happening every day, especially if there’s a particular item you’re looking for.

You actually have to go to the store to see what, if anything, is marked down that night…unless, that is, you’re looking for close-to-closing discounts at Starbucks Japan.

Because these kinds of discounts are limited to pre-made items with short shelf lives that wouldn’t be able to be sold the following day, Starbucks doesn’t mark down, say, coffee or S’mores Frappuccinos. 

They do, however, discount things like their sweets, snacks, and sandwiches, something they started doing in 2021 through their Save Food Program. 

Until now, the discounts were only offered to customers making regular in-store purchases, but beginning this month Starbucks Japan is expanding the program to include close-to-closing discounts on orders made through its Mobile Order and Pay app, letting customers purchase marked-down items before arriving at the branch to pick them up.

When selecting a Starbucks branch to place an order with, a Save Food mark will appear on items with reduced prices. Exact availability and discount timing will vary by branch and day, but Save Food items usually start showing up around three hours before closing time. A portion of Save Food sales is donated to a children’s hunger charity program too, adding one more group to the list of beneficiaries.

Save Food items were added to the Mobile Order and Pay system on December 1 and are in the process of being implemented for Starbucks Japan branches nationwide.
 
 

The Japanese government and ruling parties are considering raising the minimum taxable income threshold from the current 1.6 million yen to 1.68 million yen in 2026, it was learned Thursday.
 
The minimum taxable income level represents the combined amount of basic deductions, applied to all people with incomes, and employee income deductions, which salaried workers are eligible for.
 
The country is examining the idea of introducing a system to raise this threshold every two years in tandem with price increases, in order to help reduce taxpayers’ burden.
 
If the new system is introduced, the basic deduction and the minimum employment income deduction will each rise by 40,000 yen, raising the combined amount to 1.68 million yen.
 
The revision is expected to be included in the government’s upcoming tax system reform package for fiscal 2026.
 

Vietnam’s seafood exports to Japan have gained strong momentum, reaching nearly $1.6 billion since the start of the year and positioning the sector to set a new annual record.

Fresh customs data released on December 8 shows that shipments to Japan are rebounding. Export value rose 11 per cent on-year in the January–November period, with November alone contributing $161 million, up 9 per cent.

This performance signals recovering demand in Japan and underlines Vietnam’s strengthened position in a market known for stringent quality and safety requirements.

Growth has been driven by shifts in export structure. Shrimp, the core product, continues to rise in both volume and value, reflecting stable demand for high-quality, technically compliant goods.

Squid and octopus have maintained positive growth, while basa fish, traditionally a minor item in Japan, has posted a notable upswing, with export value surging nearly 70 per cent.

Vietnam has also benefited from relatively stable prices in the Japanese market. Import prices in Japan fluctuate less than those in the United States or China, where inflation, logistics costs and policy changes exert stronger pressure.

More stable pricing enables Vietnamese producers to plan production with greater certainty, manage risks more effectively, and deepen investment in processing and quality upgrades.

According to Japan Customs, Vietnam is currently Japan’s third-largest seafood supplier, accounting for 7.4 per cent of total import volume.

Conversely, Japan remains one of Vietnam’s three biggest seafood markets, contributing around 15 per cent of national export earnings. Maintaining this share is notable given strong competition from Thailand, Indonesia, and China.

Across the whole sector, Vietnam’s seafood exports continue to expand. According to the Vietnam Association of Seafood Exporters and Producers, the industry earned more than $10.5 billion in the first 11 months of 2025, up 14.6 per cent, with shrimp, basa fish, and tuna all showing solid recovery.

With this momentum, seafood exports are on track to reach $11 billion in 2025, further consolidating Vietnam’s global position in the sector.
 
 

The Japanese government's fiscal 2025 supplementary budget bill is now set to be enacted during the ongoing extraordinary Diet session, which ends on Dec. 17, as two opposition parties are expected to support it.

"We'll vote in favor of the bill," Democratic Party for the People chief Yuichiro Tamaki told reporters on Wednesday, welcoming the government's adoption of DPFP proposals, including scrapping the provisional gasoline tax surcharge.

Komeito has notified the ruling bloc of its intention to back the bill, in response to the inclusion of a plan to pay an additional child allowance of 20,000 yen per child in the budget bill, as proposed by the party.
 

 

Although Komeito is currently in talks with the main opposition Constitutional Democratic Party of Japan to submit a motion to amend the bill, the party still plans to vote in favor of the budget bill even if the motion is rejected.

The ruling Liberal Democratic Party and its coalition partner, the Japan Innovation Party (Nippon Ishin no Kai), plan to hold a vote on the budget bill at a plenary meeting of the House of Representatives on Thursday and send it to the House of Councillors.
 
 

Mitsubishi UFJ Financial Group (MUFG) has started final coordination to promote MUFG Bank President Junichi Hanzawa to group president and the bank’s Senior Managing Executive Officer Masakazu Osawa to bank president.

MUFG President and Group CEO Hironori Kamezawa is expected to become the group’s chairperson.

Hanzawa had worked in key posts, mainly in the planning division drawing up management strategies, before becoming the bank’s president in 2021.

With the arrival of a “an economy with positive interest rates” in Japan, deposits, which are used as the capital for loans, have become increasingly important for the banking industry.

Under such circumstances, Hanzawa promoted initiatives to broaden the bank’s client base by offering such things as a financial service for individual customers.

Osawa has extensive experience abroad and was also on loan to a securities firm. He has been involved in establishing a joint venture with U.S.

securities firm Morgan Stanley and acquiring Thailand’s Bank of Ayudhya.
Responsible for the bank’s digital division, he has also taken the initiative in investing in foreign firms and promoting mobile payment services.
 
 

The spate of bear encounters in Japan has certainly been surprising for many reasons, but one thing that caught my attention especially is that they seem pretty good at using automatic doors.


▼ Just struts in like it’s no big deal

https://youtu.be/F_ILrkdJ4J8


▼ This one struggled a bit, but it’s young; it’ll learn.

https://youtu.be/24EyzCtjJ9k

This is bad news for people, however. Bear encounters are bad enough in the outdoors, but being trapped in a confined space with one is a whole other level of terror.

 Given the number of incidents involving bears going through automatic doors, some businesses and facilities have set them to manual instead. While inconvenient for some, this poses a particular accessibility problem for disabled people.

Speaking of whom, Fulltech and Mirairo are two companies that have been developing Mirairo Door. This automatic door can communicate with smartphones via Bluetooth and was originally intended for use by people with varying levels of mobility so they could adjust the speed at which the door closes to suit their needs on their phones.

It just so happens that these doors are also really good at keeping bears and other wildlife out of buildings. Mirairo Door can also be set so that only people with smartphones can access the door’s automatic feature, and since bears are currently unable to purchase such devices, they cannot go through.

 

One drawback is that you need to install the Mirairo Door app on your phone for it to work, but once you do, it works all on its own when near a compatible door. But even without the app, the doors have touch switches and are still relatively easy to open.

I suppose a bear could hit the touch switch too, but it’s still a much bigger hurdle than conventional automatic doors.

It does offer a solution for businesses and other organizations who want to keep their doors closed to dangerous animals but also don’t want to hinder other people from coming inside. For now, at least…

Given the rate at which the bears have managed to disrupt our infrastructure, I give them about three years before they acquire quantum computing technology that can decrypt the elliptic-curve discrete logarithmic problem and override the doors’ controls. Hopefully, by that time, better bear-proof encryption for wireless devices will have been developed.
 
 

Japanese lawmakers on Monday began deliberations on an 18.3 trillion yen ($118 billion) extra budget for this fiscal year, with Prime Minister Sanae Takaichi's drastic spending plans fueling concern over a further deterioration in the country's fiscal health and pushing up long-term interest rates.

The government and ruling bloc led by Takaichi's Liberal Democratic Party aim to pass the bill by the end of the current Diet session on Dec. 17 to fund a stimulus package featuring measures to ease rising living costs and encourage investment to spur growth.

The government plans to raise 11.7 trillion yen through new bond issuances to cover more than 60 percent of the supplementary budget, which is the largest since fiscal 2022 when the state was increasing spending during the coronavirus pandemic downturn.

In response to an opposition lawmaker questioning the large scale of the draft budget, Takaichi said it contains only "truly necessary" measures, describing them as "strategic fiscal spending."

In a speech to the House of Representatives, Finance Minister Satsuki Katayama called for swift approval of the budget, saying consumption is weak as wage growth fails to keep pace with inflation.

The economic package "aims to urgently address rising prices to protect living standards and restore the strength of the Japanese economy," the minister said.

In financial markets, growing fears about the impact of Takaichi's expansionary policies on fiscal health have triggered selling of government bonds, sending long-term interest rates sharply higher. Bond yields move inversely to prices.

In Monday's trading, the yield on Japan's benchmark 10-year government bond hit 1.965 percent, its highest level since June 2007. Japan's fiscal health is already the worst among advanced economies, with debt over twice the size of the economy.

Under the budget, Takaichi's administration seeks to provide relief measures, including subsidies for electricity and gas bills and cash handouts for households with children.

The government also aims to bolster investment, particularly in the semiconductor and shipbuilding sectors, which Takaichi views as vital to national security.

It also includes defense-related outlays to bring such spending in fiscal 2025 to the government's target of 2 percent of gross domestic product. It had previously planned to reach the goal in fiscal 2027.

Meanwhile, the main opposition Constitutional Democratic Party of Japan and the Komeito party, which exited its coalition with the LDP before Takaichi took office in October, are considering submitting a proposal to change the spending allocation to provide more support for low- and middle-income households.
 

 

U.S. President Donald Trump said he has approved the manufacture of "tiny" cars in the United States, as his administration faces increasing pressure over affordability.

After describing ultracompact kei cars that he saw in Japan about a month earlier as "really cute," Trump said on social media he had just greenlit the production.

"Manufacturers have long wanted to do this, just like they are so successfully built in other countries," he wrote on Friday. "These cars of the very near future are inexpensive, safe, fuel efficient and, quite simply, AMAZING!"

While the details remain unclear, including which very small cars would be subject to his approval, Trump said the vehicles could be gasoline, electric or hybrid powered.

At a White House event on Wednesday, Trump suddenly said he wants to see Japan-style tiny cars built and driven in the United States.

"Honda (and) some of the Japanese companies do a beautiful job, but we're not allowed to make them in this country," he said at the time. "I think you're going to do very well with those cars. So, we're going to approve those cars."

In Japan, so-called minivehicles, with engines no larger than 660 cc, account for almost 40 percent of new vehicle sales.

On Thursday, Transportation Secretary Sean Duffy told a CNBC interview that the administration was in the process of "clearing the deck" for regulatory changes following Trump's directive.

"If there's a market for those vehicles, I want to give our manufacturers the opportunity to build those cars," Duffy said, adding they are probably not to be driven on U.S. freeways.

"But again, vehicles that work in cities and if that's where you drive, it could be a great solution for you," he said, stressing they are "much more affordable than other options."
 
 

Recreational vehicles are attracting ever-rising attention in Japan, not just as campers but as evacuation shelters, traveling hotels and business offices.

According to the Japan Recreational Vehicle Association, the number of such vehicles owned in the country hit 165,000 in 2024, nearly triple the 2005 level of around 50,000.

The tempo of rises was accelerated by the COVID-19 pandemic, which boosted demand for places to work and spend time without interacting with others, industry people said.

The association expects the overall figure will climb to 300,000 by 2030.
Also behind the uninterrupted popularity growth is a rapid increase in the number of RV parks, where bathrooms, restaurants, power pedestals and other facilities are available.

The total reached 580 this year, after hitting 300 in 2023, according to the JRVA, which aims to set up 1,000 such parks by 2027.

About 80 pct of users are in their 50s and 60s, a spokesperson for the association said.

But camper manufacturers and sellers have also seen younger customers recently.

"There are increasing numbers of customers in their 30s to 40s," Hiroaki Koga, president of KRC, a Fukuoka-based company that runs Car Shop 3seven77 and other RV businesses, said at the Japan Mobility Show 2025 in Tokyo's Koto Ward.

"RVs were originally meant for camping, but now the use of such vehicles just for overnight stays is becoming popular," he also said.

"Midsize models, especially, are gaining popularity."

Takahiro Kaneda, chief of a product procurement center in Noda, Chiba Prefecture, at custom camper builder FLEX Inc., said that "probably around 60 pct of its customers are in their 30s to 40s."

The company, which focuses on Toyota Motor Corp.'s Hiace van, is based in Tokyo and deals with smaller campers priced around 7 million yen, with a concept of offering everyday RVs. "Hiace Wagon-based campers are particularly popular for their reasonable sizes and as they are easier to park," Kaneda said.

"There are customers who trade in their two vehicles and buy one of our RVs" for both daily and recreational use, he also said.

In the area dedicated to RVs at the show, which ended on November 9, relatively smaller models with sticker prices starting around five million yen, almost half those for large-sized rivals, seemed to attract practical demand.

 

A visitor in his 30s to the area, from Shizuoka Prefecture, said, "I want a camper that can be used daily, including giving my kid a ride."

He then ruled out the idea that his family will own two separate vehicles--one for everyday activities and the other for overnight stays.

"I also like fishing, and I need to be at the fishing point before sunrise," he said on how he would use such a vehicle.
"Hotels are getting more expensive recently."

According to Tokyo Shoko Research Ltd., the average room price of 15 city and no-frills hotel brands of 13 listed operators in Japan had stood at 16,679 yen as of the end of March, up 12.6 pct from a year earlier.

Kristofer Karch, a 30-year-old visitor from the United States, looked around Japanese campers showcased in the RV area to get some inspiration to customize his own camper.

"The Japanese approach to space usage is so much more efficient," said Karch, adding that he plans to use a camper rental service while staying in Japan to actually compare differences between Japanese and U.S. products.

Meanwhile, Natsuki Ichikawa, in her early 40s, from Aichi Prefecture, said her interest was more on what to do in an emergency, especially with her pet, rather than using her car for outdoor purposes.

"I was looking at a small vehicle for evacuation, as we can't take pets to a shelter," Ichikawa noted.

"I'm here to get some interior ideas for my own vehicle."
The JRVA has already found that RVs can play significant roles in supporting disaster relief work.

In the wake of the 7.6-magnitude Noto Peninsula earthquake on January 1, 2024, the association sent 60 campers in the hardest-hit cities of Wajima and Suzu in Ishikawa Prefecture to serve as accommodation facilities for over 200 official response team members dispatchedby local governments across the country.

"The best part of RVs is the speed of the first move" for help, JRVA Chairman Kenji Araki said at the show.

Equipped with independent batteries for air conditioners and other in-car electric appliances, those vehicles were helpful in the disaster, which occurred in the dead of winter in the north-central Japan region, according to the association.

In June this year, the Japanese government started a system to register and manage vehicles such as RVs, food trucks and trailers to be sent to disaster-hit areas in a database called D-TRACE.

Under this framework, the central government will cover up to 90 pct of local governments' costs to operate them.

The mobility exhibition also suggested that campers will increasingly serve as multipurpose mobile spaces.

The Tokyo Future Tour 2035 section showcased Carstay Inc.'s "moonn. T-01," a commercial van-based compact electric camper with solar panels on the roof developed under the "traveling living room" concept.

Mitsubishi Fuso Truck and Bus Corp.'s NOMADpro Canter concept showed an interior design with a table, bench, toilet and monitors, proposing one possible use of a truck in the future.

General contractor Takenaka Corp., trailer manufacturer Croco Art Factory and Off-grid Field jointly exhibited the Roomette 1500 trailer, a "mobile house" that can be converted into a highly accessible small office equipped with a satellite communications system and an independent power source.

The three companies also displayed a "mokujiku" timber-frame trailer capable of meeting a variety of demand including for accommodation facilities and business footholds.

In an experimental project, a mokujiku FamilyMart convenience store served workers at the 2025 World Exposition construction site in Osaka.
 
 

Sagawa Express Co, a major Japanese parcel delivery service, suspended cargo collection in parts of the country on Thursday due to capacity overload following a surge in parcels from online Black Friday sales.

It is the first time the firm has halted package acceptance over such a wide area, with the latest suspension covering parts of Honshu and Shikoku, two of Japan's four main islands. Services are expected to resume on Friday.

Black Friday, which comes after Thanksgiving and is known as the busiest shopping time of the year in the United States due to the large number of discounted goods, began spreading to Japan in 2016 and has gained popularity in recent years.

With online shopping platforms operated by Amazon.com Inc. and Rakuten Group Inc, as well as Japanese retail giant Aeon Co., joining the campaign, the number of parcels this year has increased more than usual.

Japan's aging workforce and tough working conditions meant there was already a labor shortage in its logistics industry before overtime restrictions for drivers of trucks, taxis and buses were introduced in 2024 to prevent overwork.

Experts say the cap has led to the further shortage of drivers, with firms no longer able to deal with the surge in package deliveries.

Sagawa Express said that while parcel storage at branches and corporate pickups were suspended, it has continued delivering items that have already been accepted.

The northern main island of Hokkaido and southwestern Japan prefectures, including Okinawa, however, were not affected.

Yamato Transport Co, another major parcel delivery service in Japan, also said on its website Thursday that deliveries could be delayed amid the busy Christmas and year-end shopping season.

A public relations official at Yamato Transport said the firm will minimize delays by properly deploying delivery personnel and vehicles based on the predicted parcel volume.
 
 

Japan’s Nikkei share average closed at a three-week high on Thursday, extending its rally for a third session, as robot makers led gains on bets that physical AI will fuel growth.

The Nikkei .N225 climbed 2.33% to 51,028.42, its highest close since November 13. The broader Topix .TOPX closed at a record high, rising 1.92% to 3,398.21.

Robot maker Fanuc 6954.T jumped 12.98% to top the Nikkei gainers, extending its 18.4% surge this week after announcing a partnership with U.S. chip giant Nvidia NVDA.O to develop industrial robots powered by “physical AI,” which integrates artificial intelligence with robotic hardware.

“The market focus has shifted to robotics-related shares from chip stocks. This means investors keep looking for new themes,” said Kazuaki Shimada, chief strategist at IwaiCosmo Securities.

Fanuc’s peer Yaskawa Electric 6506.T jumped 11.37%. Earlier this week, Yaskawa also announced a tie-up in physical AI with SoftBank Group 9984.T.

SoftBank Group 9984.T jumped 9.18%.

Nabtesco 6268.T, another robot maker, jumped 11.28%.

Chip-testing equipment maker Advantest 6857.T slipped 0.77%.

“The market is not rising in a broad-based rally these days, but if investors sell some shares, they buy others, which means the money is rotating,” Shimada said.

Banks rebounded from the previous session’s declines, with Mitsubishi UFJ Financial Group 8306.T and Sumitomo Mitsui Financial Group 8316.T up 1.82% and 1.72%, respectively.

Drug maker Sumitomo Pharma 4506.T fell 4.73% to become the biggest percentage loser on the Nikkei.

Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s (TSE) prime market, 79% rose, 17% fell, and 3% traded flat.
 

 

The World Exposition in Osaka is estimated to have generated an economic ripple effect of 3.05 trillion yen, sowing the seeds for economic growth while the benefits struggled to expand to a wide area beyond the venue, according to a report by a private think tank.

The Asia Pacific Institute of Research calculated that the expo generated over 1 trillion yen in estimated visitor spending within and outside the venue, as well as a positive impact on production and employment across a wide range of industries, including venue construction.

The total estimate fell short of the projected 3.37 trillion yen in 2024 when the institute introduced the concept of a "Greater Expo," which envisioned the region surrounding Osaka as a virtual pavilion that would host events to encourage regional tourism.

The six-month expo ended on Oct 13, attracting over 25 million visitors.
Visitor spending, which was calculated using survey responses to shopping and dining expenditures, found that the average amount spent per person stood at 13,162 yen for residents of Osaka Prefecture, 19,414 yen for residents of the surrounding Western Japan region, and 59,025 yen for residents of other parts of Japan.

Meanwhile, inbound visitors spent 148,430 yen per person, with accommodation costs pushing the total higher.

Total spending within and outside the venue, including those by affiliated personnel, amounted to 1.04 trillion yen, with the spillover effect for purchases of raw materials and ingredients estimated to be 1.64 trillion yen.

The 2024 estimated cost of expo-related projects, including venue construction and operating expenses, remained at 1.41 trillion yen.

The institute noted that although merchandise sales were strong, boosted by the popularity of the expo's mascot, Myaku-Myaku, the economic benefits were concentrated in Osaka Prefecture, making it challenging to expand tourism across the wider region.
 
 

Japan's rice price outlook index fell 7 points from the previous month to 32 in November, an organization comprising the National Federation of Agricultural Cooperative Associations, or Zen-Noh, and others said Thursday.

The result reflects increased rice harvests and anticipated higher private-sector inventories at the end of June next year.

The diffusion index for the outlook on rice prices over the next three months is based on a monthly survey of rice producers, buyers, wholesalers and retailers. The November survey received 137 valid responses.

Higher readings in the index indicate wider expectations of a price increase. The latest reading was even below 35 in June, when prices were expected to drop due to the release of government-stockpiled rice.
 

 

Japanese Prime Minister Sanae Takaichi on Wednesday said that the Japanese economy is gradually shifting from a cost-cutting economy under deflation to a growth-oriented economy.

"We will aim to increase tax revenue without raising tax rates" based on the administration's "responsible and proactive" fiscal policy, the prime minister went on to say at a plenary meeting of the House of Councillors, the upper chamber of the Diet, Japan's parliament.

Also at the meeting, Takaichi defended the acceptance of corporate donations exceeding the upper limit set by the political funds control law in 2024 by the ruling Liberal Democratic Party branch she heads, saying, "I don't think it's inherently inappropriate (for a party branch) to receive donations from companies and organizations."

In a parliamentary debate with opposition party leaders in November, Takaichi made a remark that could be interpreted as suggesting that reducing the number of House of Representatives seats is more important than restricting donations by companies and organizations.

On this, Takaichi stated that she made the remark "to change the topic in a hurry when there was no time left (for the debate)."

 
 

More train cars with large open areas are appearing in the Tokyo metropolitan area, allowing passengers with baby strollers or in wheelchairs to board without hesitation.

Seibu Railway Co. was a pioneer in introducing these cars, and Keio Corp. will also begin operating similar cars from early next year.

Parents who often travel with young children have been pleased with the change, as it makes it easier to use trains.

In late October, Keio Corp., the operator of Keio and other lines, held a ceremony to unveil a new model of train car with large open spaces. Miki Fujimoto, a 44-year-old TV personality and the mother of three children aged 5 to 13, took to the stage as a guest speaker and shared her difficult experiences in the past.

“Until recently, other passengers complained and told me to fold up [my stroller],” she said.

Fujimoto said she often traveled by train with her children, pushing a stroller and carrying lots of bags. She was pleased with the introduction of the new train cars.

“We will have a space allowing various people [including those raising children and wheelchair users] to ride trains with a sense of relief.”
Each of Keio’s 2000 series trains, which will begin operation in late January, has 10 cars. Fourteen seats have been removed from one of the cars to create an open space.

The new car is also characterized by its large windows so that even little children can watch the scenery outside.

The company decided to introduce these cars to encourage people raising children and the elderly, who tend to avoid traveling by train, to ride the trains more readily. The reason behind this move is that the number of commuters on its lines dived during the COVID-19 pandemic.

Of the company’s 84 trains and 726 cars currently in use, it plans to replace one regular car with one with the large open space in four trains by March 2027.

“We want people of any generation to use our trains,” said a Keio official.

 

Little known, few in number

A council set up by the Land, Infrastructure, Transport and Tourism Ministry compiled a report in 2014 that said, “Operators of public transportation should accommodate those with baby strollers so that they do not need to fold them up.”

However, according to sources at railway companies, the reality is that people with baby strollers avoid catching trains during rush hour when train cars are congested or travel with their babies in slings.
Given this situation, Seibu Railway set up large open spaces in its trains in 2017.

Currently, one such car has been introduced for each of its 26 trains, which are being operated on train lines including the Ikebukuro and Shinjuku lines.
The Tokyo metropolitan government, operator of Toei Subway lines, introduced train cars with large spaces in 2019 to assist those raising children.

Two such cars are included in each of its 71 trains on the Mita, Asakusa, Shinjuku and Oedo lines. The walls inside the cars are decorated with characters popular with children.

However, one task remains. Cars with large open spaces are still few in number and therefore not well known. As there are only a few trains with these cars, there are limited opportunities to use them.

“These high-quality measures for accessibility are a new movement,” said Chuo University Prof. Tetsuo Akiyama, who is an expert in urban transport planning. “It is necessary to spread the word so that not only child-rearing generations but many other people will understand that good spaces have been introduced.”

The central government promotes the smooth movement of the elderly and those with baby stroller in the belief that it is important for everyone to be able to use the railway safely, securely and smoothly.

“We will make efforts to increase the number of train cars in which everybody can easily ride,” said Takuya Ogawa, deputy chief of the transport ministry’s Policy Division for Inclusive Society.
 

 

The Japanese government and the ruling bloc are considering expanding the deductible amount under a corporate tax break program designed to encourage more firms to relocate their headquarters functions from Tokyo's 23 special wards to regional areas, it was learned Tuesday.

The deadline for the program, currently set at the end of March 2026, is likely to be extended, informed sources said.

The details will be decided through further discussions. The government aims to include the expansion in its tax system reform package for fiscal 2026, which starts next April.

Under the program, companies that relocate their headquarters functions from Tokyo's 23 special wards to regional areas can receive a tax cut equivalent to 7 pct of the cost of obtaining an office building.

If a company expands its existing headquarters functions outside Tokyo, it can receive a tax break equivalent to 4 pct of the cost of acquiring a building.
 

 

A task force under Japan's financial watchdog has begun discussions to tighten rules on crypto assets, including measures against insider trading and steps to protect users, as authorities seek to crack down on illicit deals amid growing demand for the assets as investment products.

The working group of the Financial Services Agency plans to soon compile a report outlining the specifics of the tighter rules under the Financial Instruments and Exchange Act, which covers securities such as stocks and bonds.

In Japan, crypto assets, such as Bitcoin, are currently regulated under the Payment Services Act as a means of settlement.

According to the draft proposals, digital currencies could become subject to insider trading regulations, which would prohibit trading by those who learn of undisclosed information, such as an issuer's bankruptcy.

Operators that issue crypto assets to procure funds would be required to disclose information on supply amounts and the technologies they use, according to the draft.

The watchdog is also considering protecting users by requiring crypto asset exchange service providers to accumulate reserve funds to compensate those who suffer losses from fraudulent trading.
 
 

Pretax profits at Japanese companies in the July-September period rose 19.7 percent from a year earlier to 27.54 trillion yen ($177 billion), marking a fourth straight quarterly increase, driven by strong demand in the field of artificial intelligence, the Finance Ministry said Monday.

Although pretax profits in the transportation equipment sector tumbled 14.0 percent due to higher U.S. tariffs, among manufacturers as a whole they climbed 23.4 percent to 10 trillion yen on robust demand for AI data centers and semiconductor-making equipment.

Nonmanufacturers reported a 17.6 percent increase in pretax profits to 17.54 trillion yen, boosted by increased customer numbers and average spending at restaurants and accommodation facilities.

In the nonmanufacturing sector, construction companies saw a 48.6 percent surge in pretax profits on large-scale projects and rising construction costs, the ministry said.

In the third quarter of 2025, capital spending by all nonfinancial sectors for purposes such as building factories and purchasing equipment grew 2.9 percent to 13.81 trillion yen, rising for the third consecutive quarter.

Among the sectors that boosted investment, information and communication service providers expanded AI-related capacity and steel companies advanced decarbonization efforts, the ministry said.

Takafumi Fujita, an economist at the Meiji Yasuda Research Institute, said Japanese companies managed to withstand the negative impact of U.S. trade policy in the July-September period.

The Japanese and U.S. governments agreed in July to lower vehicle duties to 15 percent from 27.5 percent imposed earlier by President Donald Trump, with the new rate taking effect in mid-September.

"It is encouraging that we saw solid results in growth areas," Fujita said, pointing to robust performances in sectors such as AI and semiconductors.
Sales grew 0.5 percent to 379.04 trillion, up for the 18th straight quarter.

The latest figures will be used to revise Japan's gross domestic product data for the July-September period showing the economy shrank an annualized real 1.8 percent, marking the first contraction in six quarters.

The Cabinet Office will release the revised GDP data next Monday.
For the reporting quarter, the ministry surveyed 26,574 companies capitalized at 10 million yen or more, excluding those in the banking and insurance sectors, of which 19,255, or 72.5 percent, responded.
 
 

BYD Co. released its first plug-in hybrid model for the Japanese market on Monday as the Chinese electric vehicle giant seeks to expand sales in the country where EV adoption is slow.

The plug-in SUV, the Sealion 6, features BYD's DM-i hybrid system, which enables quiet and smooth acceleration and low fuel consumption during long-distance driving.

Its front-wheel-drive version sells for 3,982,000 yen and the four-wheel-drive version for 4,488,000 yen.

BYD has sold over 7.4 million plug-in hybrids globally since mass-producing them in 2008. The company started sales of its passenger cars in Japan in 2023.

In Japan, BYD currently sells four EV models. It plans to add an electric minivehicle as early as summer 2026.
 
 

All Nippon Airways said Saturday morning that it had canceled 95 domestic flights to update software on 34 of its Airbus A320 aircraft.

About 13,200 people have been affected by the cancellations, which include flights between Haneda Airport and Kansai Airport.

The airline also said flights scheduled for Sunday and later may be affected.
Meanwhile, budget airlines Star Flyer and Peach Aviation said Saturday that they will also update the software of their Airbus aircraft, though neither had any flight cancellations planned.

Japan Airlines, which does not own any aircraft in need of the software update, said that it had no plans to cancel flights.

Airbus A320 series entered commercial service in 1988 and competes globally against Boeing 737 series.

More than 12,000 A320 aircraft, Airbus’ best-selling model, have been delivered to airline companies to date.
 
 

Toyota Motor Corp said Thursday its global output in October rose 3.8 percent from a year earlier to 926,987 units, hitting a record high for a single month for the first time in nearly two years, driven by robust hybrid sales in North America.

While the world's largest automaker by volume was adversely affected by higher U.S. tariffs, its global sales climbed 2.1 percent to 922,087 units, the highest for October and surpassing the year-earlier level for the 10th consecutive month.

Toyota's overseas production grew 2.2 percent to 600,155 vehicles. Global output exceeded the previous year's level for the fifth straight month, with production in the United States surging 26.4 percent to 137,262 units.

Production in the major auto market was boosted by a recovery from an output suspension due to recalls of some models last year in addition to strong demand for hybrid vehicles, according to Toyota.

In contrast, output in China slumped 6.4 percent to 132,834 vehicles, as government subsidies ended in more parts of the major Asian market.

Domestic production grew 6.8 percent to 326,832 vehicles, reflecting a rebound following a certification scandal in 2024.

Toyota's overseas sales increased 3.3 percent to 784,581 units, marking a record high for October.

In the United States, sales rose 11.8 percent to 207,910 vehicles, while those in India jumped 37.1 percent to 41,664 units, boosted by the effects of tax breaks for car purchases.

However, sales in China declined 6.6 percent to 160,886 vehicles and those in Japan dropped 4.2 percent to 137,506 units.

Total global production by the eight major Japanese automakers slipped 1.5 percent to 2,227,509 units, with five companies seeing a fall due to high tariffs imposed by the United States.

The country's second-biggest automaker, Honda Motor Co., said production shrank by 10.9 percent to 302,671 units, hit by a semiconductor shortage.

The Chinese-owned, Netherlands-based Nexperia BV halted chip shipments on the back of a trade row between China and the Netherlands, which led to the brief closure of its factory in Mexico at the end of October.

Struggling Nissan Motor Co. saw global output sink by 5.0 percent to 276,323 units, dragged down by a 19.3 percent plunge in domestic production.

Meanwhile, Suzuki Motor Corp. saw production grow 6.0 percent to 304,917 units, up for the second straight month, due to strong demand in India.
 

 

The Japanese government adopted on Friday a fiscal 2025 draft supplementary budget with 18,303.4 billion yen in general-account spending to finance an economic package centered on aid for household finances and growth investments.

It is the first draft budget that has been drawn up under Prime Minister Sanae Takaichi, who advocates "responsible and proactive" fiscal policy.

The total outlay is the largest ever for a supplementary budget, excluding the three years through fiscal 2022, when government spending ballooned due to COVID-19 measures.

The government plans to finance more than 60 pct of the extra budget through new issuances of government bonds.

The draft budget is expected to be submitted to parliament early next month, with the aim of enactment by the end of the year.
 
 

Japan’s industry ministry decided Friday to invest ¥100 billion in Rapidus Corp., which aims to mass-produce cutting-edge chips domestically.

In addition to becoming the chipmaker’s largest stockholder, the government will also hold a so-called golden share that gives it veto rights over key management decisions such as director appointments.

Rapidus showed in a business strategy a plan to go public in fiscal 2031.
The ¥100 billion investment will be made through the government-affiliated Information-Technology Promotion Agency.

“It’s a national project that must succeed for the national interest,” industry minister Ryosei Akazawa told a press conference the same day. The minister emphasized the significance of supporting Rapidus as the company needs to strengthen its financial base in order to attract private-sector investment.

The government decided on the investment based on a report from an expert panel that concluded the company’s business strategy is reasonable.

The state plans to spend more than ¥1 trillion on Rapidus through investment and consignment expenses in fiscal 2026 to fiscal 2027, and help the company secure over ¥2 trillion in private-sector loans with debt guarantees.

The private sector is expected to invest about ¥130 billion in Rapidus in fiscal 2025, and the firm aims to secure more investments to increase the total to about ¥1 trillion .

Rapidus plans to start mass-producing semiconductors with a circuit line width of 2 nanometers in fiscal 2027. It plans to advance miniaturization every two to three years to achieve mass production of 1.4- and 1-nanometer chips.
 
 

Japanese beer giant Asahi said Thursday it has delayed the release of full-year financial results due to a major ongoing cyberattack that began in late September.

"While the Company is making every effort to restore the system as quickly as possible, it has decided to postpone the announcement of financial results for the fiscal year ending December 31, 2025," Asahi said in a statement.

"Regarding product supply, shipments are resuming in stages as system recovery progresses. We apologize for the continued inconvenience and appreciate your understanding," said CEO Atsushi Katsuki.

The maker of Asahi Super Dry, one of Japan's most popular beers, said on September 29 that it was hit by a ransomware attack, becoming the latest high-profile global company to be targeted.

A ransomware attack is when online actors use malicious software to lock or encrypt a victim's systems and then demands payment for restoring their functions.

The company has not disclosed the identity or the demands of the attacker.
But hacker group Qilin, believed to be based in Russia, issued a statement that Japanese media interpreted as a claim of responsibility.

Other global brands have also recently experienced similar attacks.
Indian-owned Jaguar Land Rover was forced to seek emergency funding after a damaging cyberattack halted operations at its UK factories.

Japanese retailer Muji said in October that it had stopped its domestic online shopping service after a ransomware attack on delivery partner Askul.
A survey released in June has found that a third of Japanese businesses have experienced cyberattacks of some sort.
 
 

A survey of new condominium transactions in major metropolitan areas showed a rise in buyers with overseas addresses, with Tokyo seeing the share double to 3.0 percent in the January-June period of 2025, the land ministry said.

Speculative purchases that drive up prices without actual demand are believed to exist, analysts said, prompting the government of Prime Minister Sanae Takaichi to consider countermeasures regardless of whether buyer addresses are in Japan or abroad.

When limited to the six central Tokyo wards, including Chiyoda hosting the Imperial Palace as well as many government offices and leading businesses, the share rose from 3.2 percent to 7.5 percent, underscoring a surge in purchases linked to overseas addresses.

Land minister Yasushi Kaneko acknowledged that the Japanese government does not have data on the nationalities of buyers, but said at a press conference on Tuesday, "Speculative transactions not based on actual demand are undesirable."

He said the ministry will work with the real estate industry to curb such activity, with a source close to the matter saying Japan is considering a system that would require property transfer registration applicants to disclose their nationality.

Outside Tokyo, Sapporo in northernmost Hokkaido recorded a near-tripling of its share, climbing from 0.7 percent to 2.0 percent. The figure in Kanagawa Prefecture, which borders Japan's capital, also grew from 0.3 percent to 1.0 percent.

The survey was conducted by the Ministry of Land, Infrastructure, Transport and Tourism for the first time amid concerns that speculative purchases by foreign buyers are driving up condominium prices.

As nationality is not recorded in property registry data, the ministry identified buyers by the addresses listed in those records.

Takaichi, who took office on Oct. 21, has pledged to introduce stricter rules on land acquisition by nonresident foreigners, as she has pursued policies shaped by her conservative and hawkish views on defense and economic security.