The United States said on Monday that its security supports for regional allies serve no hostile aim toward North Korea, rejecting North Korea’s claims that joint military drills in the region are “provocative” actions. U.S. State Department spokesperson Ned Price said that North Korea’s recent missile launches pose a threat to the United States and…
‘No Hostile Intent’ Toward North Korea, US Says of Its Support for Regional Allies
Toyota Production up 9 Percent in January, Chip Pain Still Lingers
TOKYO—Toyota Motor Corp. boosted global vehicle production by 9 percent in January, it said on Monday, its first increase in two months even as the carmaker continued to feel the strain from global chip shortages. The company, which is the world’s largest automaker by volume, and other car manufacturers are still grappling with tight supplies…
Japan, Other G-7 Leaders Step Up Russia Sanctions
TOKYO—Japanese Prime Minister Fumio Kishida and other Group of Seven (G-7) leaders adopted a set of additional sanctions against Russia over its war on Ukraine at an online G-7 summit Friday to mark the one-year anniversary of the start of the invasion. The leaders renewed their commitment to “intensifying our diplomatic, financial, and military support…
Earthquake of 6.1 Magnitude Hits Northern Japan, No Tsunami Warning
TOKYO—An earthquake with a magnitude of 6.1 hit off the eastern part of Japan’s northern island of Hokkaido on Saturday, authorities said, and no tsunami warning was issued. The quake hit off the Nemuro peninsula at a depth of 61 kilometers (38 miles), according to the National Research Institute for Earth Science and Disaster Resilience…
Bank of Japan’s Next Chief Says Monetary Easing Policy Still Necessary
Bank of Japan (BOJ) governor nominee Kazuo Ueda said on Friday that maintaining Japan’s monetary easing policy is necessary to support the economy, despite the side effects it has on financial intermediation. At a confirmation hearing in parliament, Ueda said that he believed it is “appropriate” to continue monetary easing to achieve the bank’s 2…
Japan’s Consumer Inflation Hits 41-year High, Keeps BOJ Under Pressure
TOKYO—Japan’s core consumer inflation hit a fresh 41-year high in January as companies passed on higher costs to households, data showed on Friday, keeping the central bank under pressure to phase out its massive stimulus program. The data underscores the dilemma policymakers face as soaring prices of fuel and daily necessities hit households, many of…
Japan’s Inflation Is Not Different From Other G6 Countries
While the market is anticipating and central banks are planning to slow down the pace of monetary tightening, there are signs of inflation rebounding in Australia and the U.S. (the core month-over-month inflation accelerated recently). Japan is the only advanced economy doing nothing in the face of such a trend. Japan’s inflation change over the…
Japan Sends Bomb Experts to Inspect ‘Mystery Ball’ Washed up on Shore
Japanese explosive experts have reportedly been called in to examine a large spherical object of unknown origin that washed up on a beach in Japan on Tuesday. A local woman found the mysterious ball on Enshu Beach in Hamamatsu City and alerted the police. The object was described as an “iron ball” with a diameter…
Japan Mulls Raising Age of Consent to 16 After Public Outrage on Rape Acquittals
The Japanese government has proposed raising the country’s legal age of consent for sex from 13 to 16 years old after the acquittal of multiple sexual offenders in 2019 sparked public outrage. A panel of the Justice Ministry submitted the proposal on Friday, which clarifies eight acts that constitute the victim’s lack of consent, including…
Japan’s Factory Activity Shrinks at Fastest Pace in 2–1/2 Years: PMI
February 21, 2023
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TOKYO—Japan’s manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world’s third-largest economy, which is facing weakening demand and struggling to tame cost pressures. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) fell to a seasonally adjusted…
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