Economic news(2025/05/30)
Major non-life insurance company announces disciplinary action against more than 70 people at four companies over customer information leak issue
2025-05-30 20:05:00
The three major non-life insurance companies, Aioi Nissay Dowa Insurance, Sompo Japan Insurance Inc., and Mitsui Sumitomo Insurance Co., Ltd., have announced disciplinary measures, such as reducing the compensation of their respective presidents, in response to the issue of an employee seconded to a shared agency leaking customer information to their own company. Together with Tokio Marine & Nichido Fire Insurance, which had already decided on disciplinary measures, more than 70 people at the four major companies have been disciplined.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 20:01:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Japan Post: 20 cases of drunk driving by employees on the job or while commuting in April
2025-05-30 19:29:00
In response to the issue of postal workers not being asked to perform roll calls to check whether they had been drinking as required by law, the company revealed in April that there had been a total of 20 cases of employees drinking while on the job or commuting across the country.
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Agriculture Minister Koizumi requests financial support from the Japan Bankers Association after selling stockpiled rice
2025-05-30 19:20:00
As applications are now being accepted from small and medium-sized retailers for the sale of stockpiled rice through discretionary contracts, Agriculture, Forestry and Fisheries Minister Koizumi met with Junichi Hanzawa, Chairman of the Japanese Bankers Association, on the evening of the 30th and requested consideration be given to the cash flow of businesses.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 19:05:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Three major convenience stores to sell stockpiled rice; JR East also applies
2025-05-30 19:03:00
With the delivery of stockpiled rice through discretionary contracts, small and medium-sized retailers have begun accepting purchases, and three major convenience store chains have applied one after another. JR East has also revealed that it has applied.
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More than 1,900 food items, including seaweed products, will see price increases in June. Here are some tips for saving money.
2025-05-30 18:37:00
It has been found that over 1,900 food items will see price increases in June. The company that conducted the survey stated that there is a high possibility that the number of food items that will see price increases this year will exceed 20,000 for the first time in two years. With the price of nori also continuing to rise, onigiri specialty stores, which are also affected by the soaring price of rice, are considering this a "life-or-death issue" and are seeking ways to respond. In the latter part of the article, we interviewed experts about the "impact on consumers" and "tips for saving money."
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Iwaki Shinkin Bank's total fraudulent loans amount to 24.7 billion yen, third-party committee releases report
2025-05-30 18:32:00
A third-party committee that has been investigating the case of Iwaki Shinkin Bank, headquartered in Iwaki City, Fukushima Prefecture, misappropriating funds, released a report on the 30th, pointing out that the fraud has been ongoing since 2004 and that the total amount of money determined to have been fraudulent loans amounts to at least 24.7 billion yen.
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Rice prices soar as sake breweries consider raising prices due to rising raw material prices in Chiba
2025-05-30 18:30:00
Sake breweries in Chiba Prefecture that produce sake are expecting a significant increase in the purchase price of rice, the raw material for sake, amid a rise in the price of staple rice, and are growing concerned that they may have to consider further price increases for their products in the future.
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[Direct from a rice master] How to eat old rice? Dryness and smell
2025-05-30 18:21:00
We spoke to Shigeru Motohashi, a holder of qualifications such as "Five Star Rice Meister" and owner of a rice milling shop in Kita Ward, Tokyo for over 20 years, about points to consider when cooking old rice.
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Only about 20% of stockpiled rice from March auction reached consumers
2025-05-30 18:19:00
The Ministry of Agriculture, Forestry and Fisheries announced the distribution status of stockpiled rice as of the 11th of this month. Of the 210,000 tons purchased at auction in March of this year, only about 20% has reached the consumer market.
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Yen exchange rate rises by more than 1 yen as yen buying moves amid uncertainty over tariff measures
2025-05-30 18:17:00
On the 30th in the Tokyo foreign exchange market, the yen rose by more than 1 yen as investors sold dollars and bought yen due to the view that the future of the Trump administration's tariff measures was unclear.
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The market is also curious! Where will the debate over reducing the consumption tax go? [Economics column]
2025-05-30 18:08:00
"It should be lowered." No, "lowering it is not appropriate." As the summer House of Councillors election gradually approaches, discussions on the consumption tax are becoming lively in Nagatacho. Consumers are not the only ones wondering what will happen with the consumption tax. Financial markets are also holding their breath as they watch the outcome of the discussion. (Economics reporters Yoshida Tomohiro and Sato Takahiro)
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Ministry of Land, Infrastructure, Transport and Tourism to consider measures to deal with tough domestic airline business profitability
2025-05-30 17:43:00
As domestic airlines are finding it increasingly difficult to make profits on their domestic routes, the Ministry of Land, Infrastructure, Transport and Tourism has decided to consider measures, including a fundamental review of the system, including routes and flight operations.
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Three major convenience store chains apply for stockpiled rice to be sold to small and medium-sized retailers
2025-05-30 17:11:00
With the delivery of stockpiled rice through discretionary contracts, purchases have begun to be accepted from small and medium-sized retailers, and three major convenience store chains have applied in succession.
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Agriculture Minister Koizumi inspects stockpile of "old rice"
2025-05-30 16:32:00
As stockpiled rice was being sold through discretionary contracts, Agriculture, Forestry and Fisheries Minister Koizumi inspected a warehouse where "old, old rice" harvested in 2021 was stored.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 16:23:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Stock prices fall; future of tariff measures unclear; sell orders prominent
2025-05-30 16:03:00
On the 30th, the Tokyo stock market saw a rise in sell orders due to the view that the future of the Trump administration's tariff measures was unclear, and stock prices fell.
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Trump to speak on proposed US Steel deal, watch for decision
2025-05-30 16:01:00
Regarding Nippon Steel's plan to acquire US Steel, President Trump is scheduled to speak at a rally in Pennsylvania on the morning of the 31st (Japan time). With US media reporting that the US government may have some involvement in the management of US Steel, attention is focused on how President Trump will decide on Nippon Steel's acquisition plan.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 15:42:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Number of domestic overnight guests in April increased 2.8% year-on-year, the highest number ever for April
2025-05-30 15:41:00
According to the Japan Tourism Agency, a preliminary estimate shows that a total of 53.36 million people stayed in hotels, inns, and other accommodations across Japan in April, up 2.8% from the same month last year and setting a new record for the month of April.
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METI Minister to attend deputy ministerial level meeting on Alaska LNG development project
2025-05-30 14:43:00
Regarding a large-scale LNG (liquefied natural gas) development project in the U.S. state of Alaska, Minister of Economy, Trade and Industry Muto has indicated his intention to have his Vice-Minister-level Director-General for Economic and Industrial Policy attend an energy-related conference to be held in Alaska next week and to deepen discussions with the U.S. side.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 14:32:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Finance Minister Kato to strictly check Iwaki Shinkin Bank's efforts to improve
2025-05-30 13:26:00
On the 29th, the Tohoku Regional Finance Bureau issued an order to improve business practices to the Iwaki Shinkin Bank in Fukushima Prefecture, after it was revealed that the former management had misappropriated funds to support the cash flow of large borrowers. In response to this, Minister of Finance Katsuyuki Kato stated his intention to strictly monitor the efforts being made to improve the situation.
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Law passed to allow accounts receivable assets to be used as collateral when taking out loans from financial institutions
2025-05-30 13:23:00
In an effort to promote business activities such as those of startups, a bill was passed unanimously at the House of Councillors plenary session on the 30th to clarify that assets such as inventory, in addition to real estate, can be used as collateral when obtaining loans from financial institutions.
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Trump administration suspends tariff suspensions; tariff measures continue
2025-05-30 13:16:00
The US Court of International Trade issued an injunction to halt reciprocal tariffs and uniform tariffs imposed by the Trump administration, and the Trump administration appealed the ruling. In response, the Federal Court of Appeals issued a temporary stay on the Court of International Trade's decision while the case is being heard. This means that the targeted tariff measures will continue for the time being.
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Stock prices temporarily fall by more than 600 yen as sell orders for export-related stocks surge
2025-05-30 12:25:00
On the 30th, the Tokyo stock market saw a renewed spread of the view that the Trump administration's tariff measures will have an impact on the global economy, and as the yen strengthened against the dollar in the foreign exchange market, selling orders increased for export-related stocks, and the Nikkei average temporarily fell by more than 600 yen.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 12:22:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Tokyo's 23 wards' consumer price index in May increased 3.6% from the same month last year
2025-05-30 12:16:00
The Consumer Price Index for Tokyo's 23 wards this month, excluding fresh food which is subject to large fluctuations due to weather, rose 3.6% from the same month last year. The increase in "rice" among these prices has decreased for the first time in a year and one month, but remains at a high level of 93.7%.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 12:15:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Nippon Steel to invest 860 billion yen in electric furnaces at steelworks in Fukuoka, Hyogo and Yamaguchi
2025-05-30 12:14:00
Nippon Steel Corporation will invest a total of 860 billion yen at its steelworks in Fukuoka, Hyogo, and Yamaguchi prefectures to introduce electric furnaces that can reduce carbon dioxide emissions. The government plans to officially decide on a maximum of 250 billion yen in support for decarbonization on the 30th.
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Three major convenience store chains apply for stockpiled rice to be sold to small and medium-sized retailers
2025-05-30 12:10:00
The government has begun accepting applications under a new system aimed at small and medium-sized retailers for the sale of stockpiled rice through discretionary contracts, and major convenience store chains Seven-Eleven Japan, FamilyMart, and Lawson have all submitted applications.
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May: Average wholesale price of eggs in Tokyo area: 340 yen per kg, 4th consecutive month of over 300 yen
2025-05-30 12:02:00
The average wholesale price of eggs traded in the Tokyo area in May was 340 yen per kilogram for medium-sized eggs, exceeding 300 yen for the fourth consecutive month. The Ministry of Agriculture, Forestry and Fisheries attributes this to the ongoing effects of the avian influenza outbreak that occurred from fall of last year through the beginning of this year.
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April industrial production index falls 0.9% from previous month, the first decline in three months
2025-05-30 11:44:00
The April index of industrial production, which indicates corporate production activity, fell for the first time in three months due to a decrease in production of production machinery for exports.
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Ministry of Land, Infrastructure, Transport and Tourism sets up "logistics support office" to prevent transport bottlenecks for stockpiled rice
2025-05-30 10:49:00
Regarding the transportation of stockpiled rice that the government will sell under discretionary contracts, Minister of Land, Infrastructure, Transport and Tourism Nakano announced on the 30th that a new "Stockpiled Rice Logistics Support Office" will be established to provide support such as coordinating between the Ministry of Agriculture, Forestry and Fisheries and logistics companies.
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Applications for stockpiled rice sales by small and medium-sized retailers begin
2025-05-30 10:33:00
Applications have begun for a new system aimed at small and medium-sized retailers to sell stockpiled rice through discretionary contracts. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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Unemployment rate in April was 2.5%, unchanged from the previous month
2025-05-30 10:18:00
According to the Ministry of Internal Affairs and Communications, the nationwide unemployment rate last month was 2.5%, unchanged from the previous month.
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[Video explanation] What to do? The key to distributing rice stockpiled under discretionary contracts is polished rice
2025-05-30 09:55:00
When will most of the stockpiled rice under discretionary contracts reach consumers? Mail order sites say that shipment and delivery will occur after June 7th, or after mid-June, etc. The timing varies depending on the seller. Here is a video explanation of the key points for distributing stockpiled rice under discretionary contracts.
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Stock prices temporarily fall by more than 600 yen as Trump tariffs raise concerns about global economy
2025-05-30 09:27:00
On the 30th, the Nikkei Stock Average on the Tokyo Stock Exchange fell by more than 600 yen at one point.
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April industrial production index fell 0.9% from the previous month, the first decrease in three months
2025-05-30 09:23:00
The April index of industrial production, which indicates corporate production activity, was 101.5, down 0.9% from the previous month, with 2020 as the base year. This is the first decline in three months, and the Ministry of Economy, Trade and Industry has maintained its assessment of corporate production activity as "advancing and retreating."
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Tokyo's 23 wards' consumer price index in May increased 3.6% compared to the same month last year, while rice prices fell
2025-05-30 09:11:00
The Consumer Price Index for Tokyo's 23 wards in May, excluding fresh food, which is subject to large fluctuations due to weather, was 3.6% higher than the same month last year in preliminary figures. The rate of increase was 0.2 percentage points higher than April's 3.4%, marking the second consecutive month of a rise in the 3% range.
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Applications for stockpiled rice sales to begin today for small and medium-sized retailers
2025-05-30 06:38:00
Applications for the sale of stockpiled rice through discretionary contracts will begin on the 30th under a new system aimed at small and medium-sized retailers. The rice being sold this time is 80,000 tons of "old, old rice" from the Reiwa 3 harvest, and the focus is on how many applications there will be.
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President Trump meets with Fed chairman: "It would be a mistake not to cut interest rates"
2025-05-30 06:14:00
Chairman Powell and President Trump, who are at odds over the monetary policy of the Federal Reserve Board of the United States, met. During the meeting, President Trump called for an interest rate cut, and Chairman Powell responded by conveying his intention to decide monetary policy based only on careful, objective, and non-political analysis.
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