Japan's air conditioner makers step outside to fight summer heat
NARUSHI NAKAI
OSAKA -- As record-breaking high temperatures scorch Japan, Japanese manufacturers are bringing air conditioning outdoors.
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Yomiuri Shimbun
3 hours ago
- Yomiuri Shimbun
Competition Intensifying Among Chinese Carmakers over EV Sales in Indonesia, Thailand; Japanese Automakers Concerned About Market Share Loss
BANGKOK — Competition is intensifying among Chinese automakers over electric vehicles sales in Indonesia and Thailand, the No. 1 and No. 3 automobile markets in Southeast Asia. The increase in competition has been prompted by government incentives in Indonesia and Thailand aimed at boosting their EV industries. However, the incentives bring few benefits to Japanese carmakers, which excel in the field of hybrid vehicles, raising concerns about a decline in their presence in the markets. Wuling's share plummeting China's SAIC-GM-Wuling Automobile Co. unveiled its Wuling Cortez Darion, a minivan the company plans to market soon, at an auto show near Jakarta in late July. In addition to an EV model of the minivan, the company also announced plans to launch a plug-in hybrid model. The vehicles will be produced at the company's plant in Indonesia. In 2023, Wuling held a 41% share of Indonesia's EV sales, giving it the second largest share. But that figure plummeted to 30% in 2024 after it lost customers to BYD, a major Chinese EV manufacturer that entered the country around that time. Executive Vice President Vincent Wong has said that Indonesia is the foundation of Wuling's global strategy, and the company aims to bring back its customers by expanding its product lineup. EV sales in Indonesia in 2024 totaled 43,000 units, an increase of 2.5 times from the previous year. However, those sales accounted for only 5% of the 866,000 total new vehicles sold that year, with the country's insufficient charging infrastructure being the primary reason. This has prompted Chinese automakers, including Chery Automobile Co. and Beijing Auto Works, to also focus on non-EV models, such as hybrid vehicles. Crisis among Japanese makers In Thailand, EV sales topped 10% of the 573,000 total new vehicle sales in 2024. BYD secured a 40% share of the EV market in the country, boosting its sales by offering large discounts. In the period from January to June this year, BYD ranked fourth in total new vehicle sales in the country with a 7.8% share, surpassing Mitsubishi Motors Corp. at 4.5%. Japanese automakers entered the Thai market in the 1960s. In 2010, Japanese automakers had a market share of 92.3%. However, the figure fell below 80% in 2023 and dropped further to 70.6% between January and June this year. Since 2022, the Thai government has been providing subsidies of up to 150,000 baht, or about ¥700,000, per EV sold to companies that establish new EV production bases in the country. It is also providing other preferential measures, such as corporate income tax breaks. Many Chinese automakers are focusing on EVs, with BYD vying against Tesla, from the United States, for the top spot in global EV sales. The companies have entered the Thai market with minimal initial investment and rapidly expanded sales by offering significant discounts, which exceed the subsidies they receive. In Indonesia, where Japanese automakers had a nearly 90% market share in 2024, EV-boosting policies similar to Thailand's have also been introduced. There is growing concern among Japanese carmakers that they may also lose market share to their Chinese competitors there in the future, just like in Thailand. In an effort to counter the competition, Japanese automakers are expanding their lineup of hybrid vehicles in both countries. However, as government support for HVs is limited in the two countries, the automakers have yet to curb their declining sales. Toyota Motor Corp. plans to begin EV production in both countries by the end of the year. Nevertheless, Japanese carmakers lag behind their competitors in bringing EVs to the market.
7 hours ago
Japanese Farm Minister Visits Rice Field in South Korea
News from Japan Economy Aug 10, 2025 20:38 (JST) Paju, South Korea, Aug. 10 (Jiji Press)--Japanese agriculture 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 that the doubling of rice prices in Japan 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-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. [Copyright The Jiji Press, Ltd.] Jiji Press
The Mainichi
12 hours ago
- The Mainichi
Firms believing Japan economy growing falls to 30% amid tariff woes
TOKYO (Kyodo) -- Just a third of major Japanese firms said the domestic economy was continuing to grow, falling from the 71 percent that said so in January, reflecting uncertainty over the tariffs imposed by U.S. President Donald Trump, a Kyodo News survey showed recently. In the survey of 113 companies, just 33 percent said they expect moderate growth, while those that responded they were either "concerned" or "somewhat concerned" regarding the levies hit 68 percent. The survey was conducted between July 9 to Aug. 1 among firms including Toyota Motor Corp. and Nippon Yusen K.K., with some answers submitted before the trade agreement before Japan and the United States was agreed upon on July 23. Of the respondents, 56 percent said they believe economic growth was flat and 11 percent said it was contracting moderately. But 59 percent forecast profits to grow, while 7 percent said they are expected to fall, with the majority hoping that solid business performance will offset the pressure implemented by the tariffs. Under the trade deal agreed by Japan and the United States last month, auto and reciprocal tariffs will be lowered to 15 percent in exchange for $550 billion of Japanese investment in the United States. Prior to the agreement, autos were set to face a combined 27.5 percent tariff, while other goods were threatened with 25 percent. "Denying globalization and free trade may make the global economy struggle," paper product manufacturer Oji Holdings Corp. said about the tariffs, in the comment section of the survey. Meanwhile, 53 percent of the companies surveyed said they are planning on hiking the prices of products and services within a year amid the long-term depreciation of the yen and rising labor costs attributable to a labor shortage. Just 8 percent said they were planning on hiking wages at a higher or similar pace, while 27 percent said they were undecided. The Japanese Trade Union Confederation, also known as Rengo, said last month that its final tally of the results of pay negotiations from over 5,000 member unions found the average monthly wage hike stood at an average 5.25 percent, the second straight year it has exceeded 5 percent. However, salary growth has failed to keep pace with ongoing inflation, with the most recent data on real wages by the Ministry of Health, Labor and Welfare showing it fell 1.3 percent in June from a year earlier, marking the sixth straight monthly decline. In a multiple-choice question asking what event would impede business, 76 percent answered an earthquake, while 56 percent said a Taiwan contingency.
