Economic news(2025/01/31)
AEON Chairman Okada and others face pay cuts due to inadequate anti-money laundering measures at affiliated banks
2025-01-31 22:20:00
AEON, a major retail chain, has announced disciplinary measures, including reducing the compensation of four executives, including Chairman Motoya Okada, citing problems with the group's governance structure, following a business improvement order from the Financial Services Agency for its subsidiary AEON Bank being found to have inadequate anti-money laundering measures.
TOP
Major banks raise fixed mortgage interest rates one after another, variable interest rates also a possibility
2025-01-31 20:33:00
Major banks have announced the fixed interest rates for home loans that will be applied in February, and interest rates have been raised one after another. Variable interest rates may also be raised in the future, following the Bank of Japan's decision last week to further raise interest rates.
TOP
Government to add 21 items, including cutting-edge semiconductor manufacturing equipment, to export control list
2025-01-31 20:08:00
In an effort to prevent Japan's cutting-edge technology from being used for military purposes, the government has decided to add 21 items related to advanced semiconductors and quantum computers to the list of items subject to "export controls," which will require prior application for permission from the government if they are to be exported.
TOP
Government stockpiled rice can be temporarily released to the market if rice distribution is disrupted
2025-01-31 19:49:00
As rice prices continue to soar, the Ministry of Agriculture, Forestry and Fisheries has decided to review how the government's stockpiled rice is managed so that it can be temporarily released into the market if it determines that distribution of rice is slowing. It has not yet been decided whether the government will actually release the rice, but attention is focused on whether this review will lead to the stabilization of rice prices.
TOP
Merger between two credit unions in Tokyo's Adachi and Katsushika wards postponed due to disagreement over pension system
2025-01-31 19:35:00
On January 31, two credit unions in Tokyo's Adachi and Katsushika wards, which had agreed to merge by October of this year, announced that they would postpone the merger due to disagreements over the pension system after the merger. However, the timing has not yet been decided.
TOP
Starbucks to review product prices based on store location, raising prices by about 30%
2025-01-31 19:00:00
Starbucks Coffee Japan, a major coffee chain, has announced that it will change the prices of its products depending on the location of its stores from mid-February. This means that the prices of coffee and other items will increase at some stores.
TOP
Yen exchange rate falls slightly
2025-01-31 18:42:00
On January 31st in the Tokyo foreign exchange market, the yen fell slightly against the dollar.
TOP
Government stockpiled rice can be temporarily released to the market if rice distribution is disrupted
2025-01-31 18:29:00
As rice prices continue to soar, the Ministry of Agriculture, Forestry and Fisheries has decided to review how the government's stockpiled rice is managed so that it can be temporarily released into the market if it determines that distribution of rice is slowing. It has not yet been decided whether the government will actually release the rice, but attention is focused on whether this review will lead to the stabilization of rice prices.
TOP
Ministry of Agriculture, Forestry and Fisheries to review government rice stockpiles to allow temporary release on market
2025-01-31 18:18:00
As rice prices continue to soar, the Ministry of Agriculture, Forestry and Fisheries has decided to review how the government's stockpiled rice is managed so that it can be temporarily released into the market if it determines that distribution of rice is slowing. It has not yet been decided whether the government will actually release the rice, but attention is focused on whether this review will lead to the stabilization of rice prices.
TOP
Will they break through it? Or not? The "wall" of the Japanese economy [Economics Column]
2025-01-31 18:17:00
It's a world that even current Bank of Japan employees at the director-general level are barely aware of... With this latest rate hike, the policy interest rate has risen to around 0.5%, but beyond that, even the Bank of Japan employees in charge of monetary policy are said to be largely unaware of the world. That is why 0.5% has been called the "wall." Will the Japanese economy break through this "wall" or not? (Economics Reporter Enoshima Airi)
TOP
The number of domestic overnight guests in December last year was 55.82 million, the highest ever for December.
2025-01-31 17:16:00
According to the Japan Tourism Agency, the number of people who stayed at hotels and inns in Japan in December last year was 55.82 million people in total, 6.3% higher than the same month the previous year. This is the highest number ever for December.
TOP
Spring Labor Offensive Forum: Keidanren Chairman: "Wage increases must extend to small and medium-sized enterprises"
2025-01-31 17:07:00
A "labor-management forum" was held to explain the policy on wage increases in this year's spring labor offensive, and the heads of Keidanren and Rengo called for the need to spread wage increases to small and medium-sized enterprises in order to consolidate the momentum for wage increases in 2024 and 2023, which are the highest levels in approximately 30 years.
TOP
Honda and Nissan to decide by mid-February whether to further merger talks
2025-01-31 17:04:00
Honda and Nissan Motor Co., which are in talks to merge, have announced that they will decide by mid-February whether to further advance their discussions. The decision has been postponed from the end of January due to the fact that Nissan is taking time to finalize its restructuring plan, which is a prerequisite for the merger.
TOP
Honda recalls 1.55 million vehicles including N-BOX
2025-01-31 16:48:00
Honda has filed a recall with the Ministry of Land, Infrastructure, Transport and Tourism for over 1.55 million vehicles across eight models, including the N-BOX, due to inappropriate materials and programs used in the engine equipment, which could, in the worst case scenario, cause the engine to shut down while driving and become unable to be restarted.
TOP
ANA to introduce drones for aircraft maintenance, first in Japan to address labor shortage
2025-01-31 16:41:00
In an industry where there is concern about a shortage of maintenance technicians, ANA has become the first domestic airline to introduce drones. The aim is to reduce the manpower and time required for aircraft maintenance and introduce drones at airports across the country.
TOP
Stock prices rise slightly: "Buying back export-related stocks"
2025-01-31 16:14:00
On the 31st, the Nikkei Stock Average on the Tokyo Stock Exchange rose slightly.
TOP
January wholesale egg prices remain high, rising to 305 yen per kilogram for medium-sized eggs as of the 31st
2025-01-31 16:06:00
The wholesale price of eggs traded in the Tokyo area in January this year was the second highest for a January since statistics began being kept. The Ministry of Agriculture, Forestry and Fisheries says that the main reason for this is the succession of bird flu outbreaks at large farms since the beginning of January.
TOP
Committee set up by Fuji Television's parent company: "Human Resources Selection and Transparency"
2025-01-31 15:24:00
On the 30th, Fuji Television's parent company set up a committee made up of outside directors to review its management structure, but outside directors have voiced concerns that the committee's role is to make the personnel selection process more transparent. Fuji Television President Kenji Shimizu said on the 31st that he would like to thoroughly consider how the committee should be operated.
TOP
January wholesale egg prices remain high, rising to 305 yen per kilogram for medium-sized eggs as of the 31st
2025-01-31 14:02:00
The wholesale price of eggs traded in the Tokyo area in January this year was the second highest for the month since 2020. The Ministry of Agriculture, Forestry and Fisheries says the main reason is the successive outbreaks of avian influenza at large farms since the beginning of January.
TOP
Apple's October-December financial results show increased revenue and profits due to strong sales in video streaming and other areas
2025-01-31 13:00:00
American IT giant Apple reported increased revenue and profits for the three months ending December last year, thanks to strong sales in its video streaming and other services.
TOP
Italy restricts "deep seek" data processing, raising concerns in Europe and the US
2025-01-31 12:46:00
Italian authorities have announced that they have launched an investigation into Deepseek, a Chinese startup developing generative AI, and are restricting its data processing in Italy, citing insufficient disclosure of information about the collection of personal data.
TOP
Committee set up by Fuji Television's parent company: "Human Resources Selection and Transparency"
2025-01-31 12:36:00
On the 30th, Fuji Television's parent company set up a committee made up of outside directors to review its management structure, but outside directors have voiced concerns that the committee's role is to make the personnel selection process more transparent. Fuji Television President Kenji Shimizu said on the 31st that he would like to thoroughly consider how the committee should be operated.
TOP
Stock price: Small price movement "A mix of buying and selling"
2025-01-31 12:15:00
On the 31st, the Nikkei Stock Average on the Tokyo Stock Exchange showed little movement.
TOP
Minister of Economy, Trade and Industry to "Study Impact" of President Trump's Tariff Plan on Canada, etc.
2025-01-31 12:07:00
In response to U.S. President Trump's renewed announcement of his intention to impose a 25% tariff on imports from Canada and Mexico from February 1, Minister of Economy, Trade and Industry Muto noted that Japanese companies have established supply chains in both countries, and indicated his intention to carefully examine the impact of the tariff measures.
TOP
Spring Labor Offensive Forum: Keidanren Chairman: "Wage increases must extend to small and medium-sized enterprises"
2025-01-31 11:58:00
A labor-management forum was held to explain the policy on wage increases in this year's spring labor offensive, and Keidanren Chairman Tokura called for the spread of wage increases to small and medium-sized enterprises in order to consolidate the momentum of wage increases achieved last year and the year before, which were the highest in approximately 30 years.
TOP
Tokyo's 23 wards' January consumer price index: Rice prices see biggest increase
2025-01-31 11:48:00
The January Consumer Price Index for Tokyo's 23 wards was a preliminary figure, excluding fresh food, which is highly susceptible to weather-related fluctuations, and was up 2.5% from the same month last year. Of this, the price of rice, which continues to rise, rose by more than 70%, the largest increase to date.
TOP
Egg prices rise due to bird flu, Agriculture Minister Eto says "efforts to prevent spread of infection"
2025-01-31 11:30:00
Regarding the rise in egg prices, Agriculture, Forestry and Fisheries Minister Eto pointed out the impact of avian influenza and expressed his intention to make efforts to prevent the further spread of infection.
TOP
Intel's October-December financial results: Final deficit of about 19.441 billion yen, narrowing the deficit
2025-01-31 11:11:00
Intel, a major American semiconductor manufacturer, announced its financial results for the three months ending December last year. The final deficit was approximately 19,441 million yen, but the deficit has shrunk since the previous quarter, and the company is making progress in restructuring.
TOP
US Steel posts final deficit of about 13.7 billion yen in October-December financial results due to falling steel prices
2025-01-31 11:10:00
The financial results for the three months ending in December for U.S. Steel, a major American steel manufacturer that Nippon Steel plans to acquire, showed a net loss of approximately 13.7 billion yen due to falling steel prices. The company's future remains unclear, with former President Biden issuing a prohibition order regarding the acquisition plan.
TOP
Italian authorities launch investigation into restricting data processing by DeepSeek
2025-01-31 10:47:00
Italian authorities have announced that they have launched an investigation into Deepseek, a Chinese startup developing generative AI, and are restricting its data processing in Italy, citing insufficient disclosure of information about the collection of personal data.
TOP
December industrial production index increased 0.3% from the previous month, the first increase in two months
2025-01-31 10:36:00
The mining and manufacturing production index for December last year, which indicates corporate production activity, rose for the first time in two months due to increased production of production machinery and electronic parts.
TOP
Unemployment rate: 2.4% in December, 2.5% average for last year
2025-01-31 10:19:00
Last month's nationwide unemployment rate was 2.4%, an improvement of 0.1 percentage point from the previous month, while the average unemployment rate for the past year was 2.5%, an improvement of 0.1 percentage point from the year before.
TOP
December industrial production index increased 0.3% from the previous month, the first increase in two months
2025-01-31 09:13:00
The mining and manufacturing production index for December last year, which indicates corporate production activity, was 102.1, with 2020 as the index of 100, up 0.3% from the previous month. This was the first increase in two months, and the Ministry of Economy, Trade and Industry maintained its assessment of corporate production activity as "advancing and retreating."
TOP
Unemployment rate: 2.4% in December, 2.5% average for last year
2025-01-31 08:59:00
According to the Ministry of Internal Affairs and Communications, the national unemployment rate last month was 2.4%, down 0.1 percentage point from the previous month. As a result, the average unemployment rate for the past year was 2.5%, down 0.1 percentage point from the year before.
TOP
Tokyo's 23 wards' consumer price index in January up 2.5% from the same month last year
2025-01-31 08:51:00
The Consumer Price Index for Tokyo's 23 wards in January, excluding fresh food, which is subject to large fluctuations due to weather, was 2.5% higher than the same month last year in preliminary figures. The rate of increase was 0.1 percentage point higher than 2.4% in December last year, and has remained in the 2% range for three consecutive months.
TOP
December job availability ratio nationwide average 1.25 times, remaining at the same level for three consecutive months
2025-01-31 08:35:00
The national average job offer ratio was 1.25 in December, remaining at the same level for three consecutive months. In addition, looking at the year 2024, it was 1.25, 0.06 points lower than in 2023.
TOP
Nissan Motor cuts production capacity in the U.S. and plans to offer voluntary retirement
2025-01-31 06:09:00
Nissan Motor Co., Ltd. plans to cut 9,000 jobs in order to turn its business around, and plans to scale back production in the United States and invite voluntary retirements. Nissan's turnaround is a prerequisite for the merger talks with Honda, and the focus is on whether the company can put together and execute concrete measures.
TOP
US October-December GDP growth rate +2.3% (annualized) driven by personal consumption
2025-01-31 06:07:00
The US GDP (gross domestic product) for October to December of last year was announced, and the growth rate compared to the previous three months was an annualized 2.3%. Although this slowed down from the previous period, which saw a positive growth of 3.1%, it was again shown that the US economy remains strong, driven by personal consumption.
TOP
Fuji Media Holdings downgrades earnings forecast, sales fall by 50.1 billion yen
2025-01-31 06:03:00
Fuji Media Holdings, the parent company of Fuji Television, announced on the 30th that it has revised down its earnings forecast for the fiscal year ending March this year in response to the ongoing trend among companies to suspend commercial broadcasts. The company has decided to set up a new committee to overhaul management and to consider revising its management structure.
TOP
European Central Bank decides to cut interest rates by 0.25% for the fourth consecutive meeting
2025-01-31 00:13:00
The European Central Bank decided to cut interest rates by 0.25% for the fourth consecutive meeting at its monetary policy meeting, prioritizing consideration for the sluggish European economy.
TOP
