Economic news(2025/03/18)
Rakuten's president submits petition against "banning" hometown tax point grants
2025-03-18 22:28:00
On the 18th, Rakuten Group CEO Hiroshi Mikitani visited the Prime Minister's Official Residence and submitted a petition to Prime Minister Ishiba expressing opposition to the Ministry of Internal Affairs and Communications' decision to ban solicitation through intermediary sites that award points for hometown tax donations.
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Suzuki extends suspension of some factories until the 21st due to spring factory explosion
2025-03-18 21:46:00
Suzuki has decided to suspend operations at its factories for the rest of this week due to the ongoing shortage of parts following the explosion at a spring manufacturer in Aichi Prefecture on March 6. Although the spring manufacturer has resumed production, it is not able to supply enough parts, and the impact on production at automakers continues.
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Land prices across the country rise for the fourth consecutive year, with the rate of increase expanding from last year
2025-03-18 19:18:00
As of January this year, land prices nationwide were up 2.7% on average compared to last year, marking the fourth consecutive year of increase. The rate of increase is faster than last year, with land prices particularly rising in central Tokyo and Osaka, and high rates of increase also continuing in resort areas where there is demand for second homes for foreigners. Experts analyze that "the gradual economic recovery and the influx of money and people from overseas are having a major impact. The effects are not limited to the three major metropolitan areas and regional core cities, but are spreading nationwide."
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Land prices across the country have risen for four consecutive years in residential and commercial areas.
2025-03-18 19:15:00
As of January this year, the average land price nationwide was up 2.7% compared to last year, marking the fourth consecutive year of increase. The rate of increase was particularly large in surveyed areas such as tourist destinations popular with foreigners and areas where semiconductor factories are under construction.
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Japan Post Group disciplines 14 executives over misuse of customer information
2025-03-18 18:48:00
It was discovered that Japan Post, which operates post offices across the country, had illegally compiled a list of personal information for a total of 10 million customers of its group company, Japan Post Bank, to use in soliciting financial products. The Japan Post Group announced that it would reduce the compensation of 14 of its executives, including the president of Japan Post.
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Yen falls as "concerns over US recession ease somewhat"
2025-03-18 18:23:00
On the 18th, the Tokyo foreign exchange market saw a rise in buying dollars and selling yen due to the view that concerns about a US economic recession had eased somewhat, causing the yen to fall in value.
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Stockpiled rice deliveries start today, available in stores from next week. What will happen to the price?
2025-03-18 18:18:00
The government began handing over rice to the successful bidders for the government's stockpiled rice, which was tendered last week. The rice is expected to be sold to supermarkets and other stores from next week onwards, after being passed through wholesalers.
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Cabbage and Chinese cabbage prices continue to be more than twice as high as average
2025-03-18 18:17:00
The average prices of major vegetables sold at supermarkets and other stores were announced last week, with cabbage and Chinese cabbage still priced at more than twice the average year.
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Japan Post Group disciplines 14 executives over misuse of customer information
2025-03-18 18:07:00
It was discovered that Japan Post, which operates post offices across the country, had illegally compiled a list of personal information for a total of 10 million customers of its group company, Japan Post Bank, to use in soliciting financial products. The Japan Post Group announced that it would reduce the compensation of 14 of its executives, including the president of Japan Post.
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Average price of new apartments in the Tokyo metropolitan area in February reached a record high of 79.43 million yen in Saitama
2025-03-18 17:30:00
The average price of new apartments released in the Tokyo metropolitan area in February was 79.43 million yen, 11.5% higher than the same month last year. The average price in Saitama Prefecture was 99.58 million yen, the highest ever, which pushed the overall figure up.
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Mazda's electrification strategy: "Development while increasing efficiency through collaboration with other companies"
2025-03-18 17:21:00
Mazda has announced its future strategy for electrification, including the development of EVs (electric vehicles), and says it will continue development while increasing efficiency by furthering collaboration with other companies.
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Land prices across the country rise for the fourth consecutive year, with the rate of increase expanding from last year
2025-03-18 17:14:00
As of January this year, land prices nationwide were up 2.7% on average compared to last year, marking the fourth consecutive year of increase. The rate of increase is faster than last year, with land prices particularly rising in central Tokyo and Osaka, and high rates of increase also continuing in resort areas where there is demand for second homes for foreigners. Experts analyze that "the gradual economic recovery and the influx of money and people from overseas are having a major impact. The effects are not limited to the three major metropolitan areas and regional core cities, but are spreading nationwide."
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Nikkei Stock Average temporarily rises by over 600 yen "Concerns over US economic recession ease"
2025-03-18 16:19:00
On the Tokyo stock market on the 18th, buying orders were placed on a wide range of stocks as concerns about a US economic recession seemed to have eased somewhat, and the Nikkei average temporarily rose by more than 600 yen.
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14 Japan Post Group executives disciplined for misusing customer information
2025-03-18 16:08:00
In response to the issue of Japan Post misusing Japan Post Bank customer information at post offices nationwide for insurance solicitation without prior consent, the Japan Post Group announced that it takes serious responsibility for the situation and will reduce Japan Post President Tetsuya Senda's monthly salary by 30% for three months. In addition, Japan Post President Hiroya Masuda, Japan Post Insurance President Kunio Tanigaki, and Japan Post Bank President Takayuki Kasama will also be given salary cuts, and disciplinary measures will be taken against 14 group executives in total.
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[Commentary] Many companies agree to pay full wages in spring wage negotiations, but are some still unable to raise wages?
2025-03-18 15:57:00
How can we achieve wage increases that will improve people's lives? In this year's spring labor offensive, large companies are increasingly accepting the full amount demanded by unions. The rate of wage increases is also currently higher than last year. However, the question is whether this momentum will spread to small and medium-sized companies. There are concerns that if things continue as they are, there will be an increase in polarization between "companies that can raise wages" and "companies that cannot." Economics expert and commentator Imai Junko will provide a detailed explanation based on the latest data. *Information as of March 18th. (Video: 8 minutes 6 seconds)
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Proposal to revise guidelines to encourage longer expiration dates and best-before dates for food
2025-03-18 15:48:00
The Consumer Affairs Agency has put together a revised guideline for the labeling of food "expiration dates" and "best before dates," calling on businesses to refrain from setting dates shorter than necessary. The aim is to encourage businesses to set longer expiration dates, thereby reducing food waste.
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Stockpiled rice deliveries start today, expected to be on store shelves next week
2025-03-18 14:51:00
The government began handing over rice to the successful bidders for the government's stockpiled rice, which was tendered last week. The rice is expected to be sold to supermarkets and other stores from next week onwards, after being passed through wholesalers.
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Government to hold working-level talks with US to avoid tariff hikes
2025-03-18 14:45:00
As the Trump administration in the United States considers imposing reciprocal tariffs and automobile tariffs next month, the Japanese government will soon begin working-level consultations with the U.S. government. We will continue to call for Japan to be excluded from the series of tariff measures, and we also hope to explore the U.S. side's requests to Japan and find a way to avoid raising tariffs.
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Stockpiled rice deliveries start today, expected to be on store shelves next week
2025-03-18 13:01:00
The government began handing over rice to the successful bidders for the stockpiled rice that was tendered last week. It is expected that the rice will be sold to supermarkets and other stores from next week onwards after being passed through wholesalers.
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Hokkaido Shinkansen extension opening significantly delayed, explanations to be given to local governments along the line
2025-03-18 12:10:00
Regarding the extension of the Hokkaido Shinkansen to Sapporo, the opening date is expected to be significantly delayed from the original target, Minister of Land, Infrastructure, Transport and Tourism Nakano stated his intention to begin explaining the situation to relevant parties in local governments along the line from the afternoon of the 18th.
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Nikkei Stock Average temporarily rises by more than 600 yen due to rise in major US stock indexes
2025-03-18 11:59:00
On the Tokyo stock market on the 18th, the Nikkei average temporarily rose by more than 600 yen as concerns over a US economic recession seemed to have eased somewhat.
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Stockpiled rice deliveries start today, expected to be on store shelves next week
2025-03-18 11:46:00
The government began handing over rice to the successful bidders for the stockpiled rice that was tendered last week. It is expected that the rice will be sold to supermarkets and other stores from next week onwards after being passed through wholesalers.
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TEPCO Holdings' provisional business plan approved: "Consider measures to improve financial situation" - METI Minister
2025-03-18 11:17:00
Regarding the government's approval of Tokyo Electric Power Company Holdings' provisional business plan, which is facing a difficult business situation, Minister of Economy, Trade and Industry Muto stated his intention to call for continued consideration of measures to improve the company's financial situation in order to achieve stable management.
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Nikkei Stock Average temporarily rises by more than 600 yen due to rise in major US stock indexes
2025-03-18 10:55:00
On the 18th, the Nikkei Stock Average on the Tokyo Stock Exchange rose by more than 600 yen at one point.
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Agriculture Minister Eto expects rice distribution and price stability, including second release of stockpiled rice
2025-03-18 10:37:00
Regarding the fact that rice prices have continued to rise even after the announcement of the release of stockpiled rice, Agriculture, Forestry and Fisheries Minister Eto expressed hope that distribution and prices will stabilize, including with the second release of stockpiled rice scheduled for the near future.
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Prime Minister orders compilation of plan to attract 60 million foreign tourists to Japan by 2030
2025-03-18 10:29:00
As the number of foreign tourists visiting Japan reaches a record high, Prime Minister Ishiba has instructed relevant cabinet ministers to compile a new plan to achieve the goal of increasing the number of foreign tourists to 60 million by 2030.
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Forever 21 files for second bankruptcy amid pressure from Chinese online retailers
2025-03-18 09:55:00
The company that runs the American retailer Forever 21, known for selling low-priced clothing, has filed for bankruptcy under the federal bankruptcy law, which is equivalent to Japan's Civil Rehabilitation Act. This is the second time the company has gone bankrupt, due in part to pressure from cheap online retailers based in China.
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Nikkei Stock Average temporarily rises by more than 500 yen due to rise in major US stock indexes
2025-03-18 09:13:00
On the 18th, the Nikkei Stock Average on the Tokyo Stock Exchange rose by more than 500 yen at one point.
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Steel industry: Decarbonization through technological development to reduce carbon dioxide emissions in the blast furnace steelmaking process
2025-03-18 07:03:00
As addressing decarbonization has become an issue in the steel industry, manufacturers are accelerating the development of new technologies that can significantly reduce carbon dioxide emissions during the steelmaking process in blast furnaces.
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European automakers focus on launching new EVs despite sluggish demand
2025-03-18 07:01:00
Demand for electric vehicles (EVs) is sluggish in Europe, but automakers are anticipating medium- to long-term market growth and are focusing on introducing new EVs that boast improved performance and lower prices.
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The New York Dow rose by more than $500 at one point.
2025-03-18 06:54:00
On the 17th, the New York stock market saw the Dow Jones Industrial Average rise by more than $500 at one point as concerns about American personal consumption eased somewhat.
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OECD downgrades world economic growth rate amid Trump administration tariffs
2025-03-18 06:26:00
The Organization for Economic Cooperation and Development (OECD) has lowered its forecast for global economic growth this year by 0.2 percentage points, taking into account the impact of tariffs imposed by the Trump administration in the United States.
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US Department of Justice requests extension of trial date for Nippon Steel Corporation's proposed acquisition of US Steel
2025-03-18 06:05:00
The US Department of Justice has filed a motion to request an extension to the trial in which the two companies are seeking to invalidate the injunction issued by former US President Biden over Nippon Steel's plan to acquire US Steel, a major steel manufacturer. The extension is intended to secure time for the Trump administration and the two companies to conclude negotiations.
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TEPCO HD's provisional plan approved by government; tough business situation, focus shifts to improvement measures
2025-03-18 06:02:00
On the 17th, Tokyo Electric Power Company Holdings received government approval for its "Comprehensive Special Business Plan," which is a prerequisite for receiving government support for the costs of compensation following the Fukushima Daiichi Nuclear Power Plant accident. However, this plan is provisional, and with the company's business situation becoming tougher, the focus will be on whether the next business plan, which will be a full-scale revision, can include concrete measures to improve its income and expenditure.
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Government to hold working-level talks with US to avoid tariff hikes
2025-03-18 05:28:00
As the Trump administration in the United States considers imposing reciprocal tariffs and automobile tariffs next month, the Japanese government will soon begin working-level consultations with the U.S. government. We will continue to call for Japan to be excluded from the series of tariff measures, and we also hope to explore the U.S. side's requests to Japan and find a way to avoid raising tariffs.
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Finance Minister Kato expresses regret over US tariffs on steel and other products
2025-03-18 00:18:00
A meeting of finance ministers from the G7 countries was held on the 17th (Japan time), and Finance Minister Katsuyuki Kato, who attended the meeting, expressed "regret" over the United States' imposition of tariffs on steel products and other items.
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