Business
Philippines asks Japanese consumers to accept higher prices for bananas
The Philippines has taken the rare step of asking retailers and consumers in Japan, its biggest export market, to bear the brunt of higher prices for its bananas to sustain its industry for the popular fruit. The prices of Philippine bananas in Japan must be "fair" and reflect increasing production… Read
Sega’s old arcades are making money again as new owners announce ¥3.175 billion profit
A year and a half ago gamers in Japan were saddened when Sega left the arcade management business, selling off its nationwide amusement facilities. Though it had been almost 20 years since Sega had stopped producing its own home consoles, the company had remained a stalwart of the arcade scene in Japan… Read
Chip shortage keeps driving up auto prices, cutting sales
New vehicle sales in the U.S. tumbled more than 21% in the second quarter compared with a year ago as the global semiconductor shortage continued to cause production problems for the industry. Yet demand still outstripped supply from April through June, even with $5 per gallon gasoline, high inflation and… Read
British ad giant WPP looking for opportunities in aging Japan
British advertising giant WPP Plc sees potential in Japan's shrinking market, with elderly consumers a segment to tap into, the head of its Japanese operations has said. Japan's population is expected to continue to decline and age, reflecting its falling birthrate, but there is a chance to "further unlock opportunities,"… Read
Japan examining impact of Russia Sakhalin-2 gas project decree
Japan's energy "interests must not be undermined", Tokyo said Friday, after Moscow issued a decree transferring operations of a key oil and gas project to a new Russian company. Japanese trading houses Mitsui and Mitsubishi Corp own 12.5 and 10 percent stakes respectively in the Sakhalin-2 project, but the future… Read
From stocks to crypto, a punishing six months for investors
Americans with stock portfolios or retirement investment plans would likely prefer to forget the last six months. The S&P 500, Wall Street’s broad benchmark for many stock funds, closed the first half of 2022 with a loss of more than 20% after starting the year at an all-time high. It’s… Read
Japan's May jobless rate 2.6%; 1st rise in 4 months
Japan's unemployment rate rose to 2.6 percent in May from 2.5 percent in April, marking the first increase in four months, the internal affairs ministry said Friday, as people searched for new jobs amid the gradual economic recovery from the coronavirus pandemic. The job availability ratio stood at 1.24, up… Read
Asian shares mostly lower after pessimistic 'tankan' survey
Asian benchmarks were mostly lower on Friday, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy. Shares fell in Tokyo, Seoul, Sydney and Shanghai. Markets were closed in Hong Kong for a holiday. Recent data suggest global… Read
Disclosure of employees' birthrate sparks blowback at Japanese firm
An effort to promote child-rearing among employees turned sour when a Japanese company publicly disclosed the birthrate among its staff members, sparking criticism that it is meddling in their lives and creating unfair expectations. In April, major trading house Itochu Corp published the average number of children its female employees… Read
Kirin offloads Myanmar beer business
Japanese drinks giant Kirin said Thursday it has agreed to a buyout of its shares in a Myanmar joint venture with a junta-linked conglomerate, completing its exit from the market over the 2021 coup. Days after the putsch in February 2021, Kirin announced it would end its joint venture Myanmar… Read
