Kyodo News Digest: Aug. 8, 2025
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Japan says U.S. to correct tariff deal "mistake"
WASHINGTON - The United States has admitted to a "mistake" in implementing part of a bilateral trade deal with Japan and has agreed to correct it in line with what both sides agreed to about two weeks ago, a Japanese negotiator said Thursday.
Ryosei Akazawa, Japan's chief tariff negotiator, told reporters in Washington that the United States has also promised that import taxes collected as a result of the mistake will be refunded to importers.
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Special heavy rain warning issued for Japan's Kagoshima Prefecture
TOKYO - Japan's weather agency issued a special heavy rain warning for Kirishima, Kagoshima Prefecture, on Friday morning, as rain battered the southwestern island of Kyushu.
The Satsuma and Osumi areas in the prefecture have been seeing severe precipitation for some time, according to the Japan Meteorological Agency.
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Japan's household spending in June up 1.3% on year
TOKYO - Japan's household spending rose a real 1.3 percent in June from a year earlier, government data showed Friday.
Households of two or more people spent an average of 295,419 yen ($2,012) in the reporting month, the Ministry of Internal Affairs and Communications said.
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Japan logs current account surplus of 14.6 trillion yen in 1st half
TOKYO - Japan posted a current account surplus of 14.60 trillion yen ($99.5 billion) in the first half of 2025, the Finance Ministry said Friday.
In June alone, the country logged a 1.35 trillion yen current account surplus.
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SDF F-2A fighter jet crashes in Pacific off east Japan, pilot rescued
TOKYO - An Air Self-Defense Force F-2A fighter jet crashed Thursday in the Pacific off eastern Japan during a training flight, with the pilot rescued after escaping the aircraft before impact.
The pilot in his 30s ejected from the aircraft before it went down around 12:35 p.m. off the coast of Ibaraki Prefecture, according to the ASDF, which later announced it grounded all 90 F-2s unless needed for urgent duties such as airspace violation responses.
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Young Japanese brewers promote sake in Beijing ahead of 3-day event
BEIJING - Young Japanese sake brewers promoted their products Thursday at the Japanese Embassy in Beijing ahead of a three-day event in the capital from the following day to pitch the drink in China, Japan's largest overseas market by value.
At the "Sake Jump" event in Beijing, the second of its kind to be held outside of Japan following one held in Hong Kong in June, 23 brewers from 14 prefectures will showcase their sake.
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Cambodia, Thailand agree to ASEAN role as cease-fire observers
KUALA LUMPUR - Cambodia and Thailand agreed to allow the Association of Southeast Asian Nations to observe the cease-fire the two countries reached late last month to end fighting in a disputed border area, as their top defense officials met Thursday in Malaysia, the current ASEAN chair.
The meeting was held in Kuala Lumpur as Cambodia and Thailand continued to accuse each other of cross-border attacks, even after their leaders agreed to a cease-fire ending five days of fighting that began on July 24 and left 32 dead in Thailand and at least 13 in Cambodia.
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Medal designs revealed with 100 days to go until Tokyo Deaflympics
TOKYO - Tokyo Deaflympics medals adorned with cherry blossom and origami designs were unveiled Thursday to mark 100 days until the opening of the multi-sport event for hearing-impaired athletes.
Some 80,000 elementary, junior-high and high school students from across Japan voted for their favorite medal designs ahead of the event, being hosted in the country for the first time.
Video: Tokyo Deaflympics medals unveiled
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Nikkei Asia
2 hours ago
- Nikkei Asia
Economists welcome rise in foreign workers in Japan: Nikkei survey
TOKYO -- A Nikkei survey found that a majority of economists believe the increase in the number of foreign residents in Japan will enhance the country's fiscal balance, driven by their tax and social insurance contributions, and help to raise the living standards of the average Japanese citizen. Nikkei, in collaboration with the Japan Center for Economic Research, asked nearly 50 economists to form an Economics Panel in 2024. The economists were chosen based on their academic achievements and influence, taking into account their areas of expertise and the importance of diversity. The panel took up questions related to fiscal and financial issues, as well as Japan's policies regarding overseas nationals. Among the panelists, 66% agreed that an increase in the number of foreign residents in Japan could improve the nation's fiscal balance. They pointed out that having more young foreign workers will help alleviate labor shortages and that such workers will contribute significantly in terms of tax payments and social security premiums. Many panelists emphasized the importance of creating institutional frameworks to make it easier for foreign residents to live in Japan and to address their needs as they grow older. As of the end of last year, Japan had around 3.7 million foreign residents, an increase of 11% from the previous year. While many in Japan believe welcoming foreign workers is essential for the domestic economy, there are concerns that their presence may lead to competition with Japanese workers for jobs and could negatively affect civic order. Nikkei and the JCER surveyed 47 economists about whether increasing the number of foreign residents would improve the living standards of the typical Japanese citizen. The survey was conducted from July 18 to July 28. Seventy-six percent of respondents agreed that it would. Of these, 6% strongly agreed, while 70% agreed. Mari Tanaka, an associate professor of labor economics at the University of Tokyo, said, "An increase in foreign workers will help alleviate shortages of goods and services, as well as rising prices." Most of those surveyed predicted that competition for jobs between Japanese and foreign workers will be limited. Chiaki Moriguchi, a professor of comparative economic history at Hitotsubashi University, stated, "Empirical research has shown that foreign and Japanese workers primarily have complementary relationships [and] that [foreign workers] do not negatively impact the wages or unemployment rates of Japanese workers." Many economists emphasize the benefits of diversity in terms of raising economic growth. "New ideas introduced in workplaces [by foreign workers] can enhance productivity," said Taisuke Nakata, an associate professor of macroeconomics at the University of Tokyo. Concerns have been raised about how having more foreign residents may affect the fiscal balance, particularly welfare payments and nonpayment of social security premiums. However, the survey conducted by Nikkei and JCER revealed that 66% of respondents believe having more foreign workers will help Japan's fiscal balance. A significant proportion of respondents predict a positive impact on Japan's fiscal balance because foreign residents are mostly young. According to statistics released by the Ministry of Justice, people in their 20s and 30s made up 55.9% of all foreign residents in Japan as of the end of 2024. "Greater acceptance of foreigners will boost the ratio of prime-age labor force and result in higher tax revenue and social security contributions," said Hiroyuki Kasahara, a professor of international trade at the University of British Columbia in Canada. Motohiro Sato, a professor of public finance at Hitotsubashi University, added, "Many foreign residents are part of the working generation and contribute more in taxes and insurance premiums than they receive in benefits." Future institutional design will be crucial in determining whether the acceptance of more foreign workers contributes to the stability of Japan's economy and finances over the long term. Sato emphasized that Japan "needs to provide adequate education for foreign nationals' children, and ensure benefits for them in old age." At present, people born overseas make up 3% of Japan's population, while the average in OECD member countries is 11%. In many European countries and others with a long history of accepting immigrants, the costs associated with immigration, particularly the challenge of social integration of foreign residents, have become a concern. "To build a society where individuals from diverse backgrounds can coexist sustainably, it is essential to implement multicultural coexistence policies that include fiscal spending," said Yoshifumi Konishi, a professor of empirical microeconomics at Keio University, emphasizing the need to create long-term institutional arrangements. When the fiscal balance worsens, "paying the insurance premium in advance could be made a requirement for the issuance of resident status, similar to the case in Britain," said Toru Kitagawa, a professor of econometrics at Brown University. The Economics Panel program began in November 2024, with approximately 50 economists evaluating various policies. They respond to questions on topics such as fiscal and financial issues. The program conducts monthly surveys of panelists, who respond according to categories such as "I agree" or "I disagree."
Japan Times
4 hours ago
- Japan Times
Farm minister Koizumi visits rice field in South Korea
Farm minister Shinjiro Koizumi visited a rice field in a suburb of Seoul on Sunday to inspect the local rice farming situation. During the inspection in Paju, Gyeonggi Province, Koizumi received explanations from a rice farmer on market price trends and measures to combat high temperatures and pests. Speaking to reporters, Koizumi said rice prices in Japan doubling in a year, coupled with the rapid increase in rice imports from overseas, including from South Korea, "has led to anxiety among Japanese farmers." The minister emphasized that he would work to stabilize the Japanese rice market through the release of government-stockpiled rice and the policy shift toward increasing rice production in Japan. Exports of South Korean rice to Japan have increased sharply, reaching a record 416 tons in January to June this year, which is 26 times the highest full-year total logged in 2012, according to Korea Agro-Fisheries & Food Trade Corp. This is because South Korean rice, even with tariffs, can now be sold at around the same prices as Japanese rice. Koizumi is on a three-day visit to South Korea through Monday to attend a food security ministerial meeting of the Asia-Pacific Economic Cooperation forum in Incheon, near Seoul. On the sidelines of the APEC meeting, Koizumi held talks with senior U.S. government officials, in which the two sides agreed to proceed with preparations for U.S. Agriculture Secretary Brooke Rollins' visit to Japan and Koizumi's visit to the United States.
Tokyo Reported
4 hours ago
- Tokyo Reported
9 Japanese suspected of running ¥17.1 billion illegal investment scheme from Philippines
TOKYO (TR) – Tokyo Metropolitan Police have arrested nine Japanese nationals who are suspected of raising approximately 17 billion yen by selling unregistered foreign corporate bonds based in the Philippines, reports NHK (Aug. 8). Tokyo police believe the mastermind is Hajime Sumi, the 45-year-old the de facto manager of S Division Holdings Inc., a Philippines-based company engaged in real estate and other businesses. Sumi and eight other men and women are suspected of soliciting approximately 131 million yen from nine investors between 2021 and 2023 by offering unregistered foreign corporate bonds. Police did not reveal whether the nine suspects admit to violating the Financial Instruments and Exchange Act. The group collectively claimed, 'Philippine business will grow in the future. Purchasing corporate bonds will earn monthly dividends, earning an annual interest of up to 24 percent.' During their solicitations, the nine allegedly solicited investors by explaining that they were developing businesses such as the Manila Shimbun , a newspaper publishing business aimed at Japanese residents in the area. Hajime Sumi (X) '24 percent annual dividend' In June 2024, Tokyo police began conducting searches of companies affiliated with S Division Holdings in Osaka Prefecture. A man in his 50s from the Kansai region lost contact with the company after purchasing more than 20 million yen in corporate bonds. Three years ago, an acquaintance introduced him to the company. 'The company operates a call center business in the Philippines, and if you purchase the bonds, you can earn a 24 percent annual dividend,' the acquaintance said. He invested a total of 25 million yen. The man recalled, 'I knew I'd need money in the future for child support and my children's education expenses, so I wanted to increase my savings through investments. I'd heard that this offered a better return than savings such as education insurance.' The man said of Hajime Sumi, the aforementioned de facto manager, whom he met during the solicitation, 'I had the impression he was a young investor. He told me that there were still very few conglomerates in the Philippines, and that his goal was to create one himself.' After investing, he received monthly dividends for a while, but the payments stopped around the end of last year. When he asked for a refund in May of last year, he was no longer able to contact the company. The man consulted a lawyer and filed a lawsuit against the company seeking a refund. Tokyo police are considering filing charges of fraud and plan to continue the investigation. Tokyo police arrested 9 Japanese nationals for violating the Financial Instruments and Exchange Act, including Hajime Sumi, second from upper left (X) 'This does not mean they can be trusted' A representative from the Securities and Exchange Surveillance Commission stated, 'Unregistered companies may use investment funds from other customers to reimburse their customers. Even if they have received reimbursements in the past, this does not mean they can be trusted.' The commission urges users to check the list on the Financial Services Agency's web site to see if a particular company is registered.
