Norinchukin CEO Oku Plans to Resign After Massive Bond Losses
Norinchukin Bank Chief Executive Officer Kazuto Oku plans to resign to take responsibility for the Japanese lender's large losses incurred due to wrong-way bets on foreign bonds, according to a person familiar with the matter.
Oku, 65, will step down at the end of March, the person said, asking not to be identified discussing the private information. Managing Executive Officer and Chief Financial Officer Taro Kitabayashi will be nominated to replace him and the change will be effective April 1, according to the person. Nikkei first reported on the resignation.
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San Francisco Chronicle
20 minutes ago
- San Francisco Chronicle
The Ferry Building just got a new seafood spot from a treasured S.F. restaurant
A much-anticipated seafood market and restaurant from San Francisco's famed Nopa has quietly opened. On Tuesday morning, the glass case at Nopa Fish at San Francisco's Ferry Building was stocked with pristine, almost exclusively California seafood: Miyagi oysters from Tomales Bay, Monterey Bay squid, San Francisco halibut, even bluefin tuna caught near the Channel Islands off the coast of Southern California. Curious customers ogled the fish case and ordered from the casual, seafood-centric menu created by chef-owner Laurence Jossel, who opened Nopa Fish with partner Holly Rhodes and fishmonger Joe Conte, long a seafood supplier to the city's top restaurants through his now-shuttered business Water2Table. Even in locavore-obsessed San Francisco, it's rare, Conte said, to have a seafood market so intensely focused on local rather than conventional seafood. It's more expensive and takes more work, like meeting small hook-and-line fishermen unloading at the docks at midnight. Customers can buy fish by the pound, or sample it in dishes like shrimp arancini ($12), fried rockfish sandwich ($19) and a Bay shrimp and egg salad sandwich ($16). Jossel wanted to create unconventional twists on traditional seafood staples, like adding Moroccan flavors to fish and chips ($24). The wild local rockfish gets ras el hanout seasoning in the batter mix and is served with harissa-spiked aioli and cumin-spiced fries. Here, a classic tuna melt is made with wild albacore cold-smoked in house and served like a Reuben with Russian dressing and sauerkraut ($18). Jossel convinced Acme Bread, a neighboring Ferry Building tenant, to develop Japanese milk bread whose texture is 'like biting through a cloud,' he said. Slices are used for the shrimp-egg salad sandwich (served open face with dill pickles), while the rockfish sandwich comes on a milk bread hot dog bun (more compact for on-the-go eating, Jossel said). The priciest dish on the menu is a chirashi bowl ($25), with an ever-changing selection of whatever is best in the fish case — on Tuesday, kanpachi, halibut and tuna — served over single origin Luna Koshihikari rice grown in the Sacramento Valley. It's topped with market greens, ginger, pickled green beans, avocado and a jammy sous-vide egg. Several Nopa hits made their way over to the new business, including hand-cut fries and latkes, the latter topped with house-smoked McFarland Springs trout. Eventually, a grab-and-go fridge will be stocked with salads and pints of Nopa's popular beet hummus. Nopa Fish is casual, built for quick meals for lunchtime workers and commuters. Diners order at a counter and can sit at two long wooden communal tables. A fridge is filled with beer, wine, cider and nonalcoholic drinks. Oceanic touches decorate the space, including 100 ceramic fish made by Jossel and Rhodes' 16-year-old daughter hanging on the walls; seafood cookbooks on shelves; and a counter covered with deep-blue tiles handmade by Outer Sunset artist Georgia Hodges. The restaurant will be initially open through this Friday, June 13, from 11 a.m. to 7 p.m., as well as Monday, June 16, and start regular service June 17. Michele Meany, a broker for the Ferry Building, became a fan of Water2Table's home deliveries during the pandemic, and pestered Conte to take over the former San Francisco Fish Company space at the landmark until he agreed. He eventually sought out Jossel, whom he had known for years from work in the restaurant industry, as a chef-partner. (Water2Table also briefly operated Mission District seafood restaurant Ancora.) Conte brings decades of fishermen connections; on Tuesday, he was gearing up for a fresh catch of rock cod, petrale and sand dabs from Mr. Morgan, a fishing vessel out of Half Moon Bay. Nopa Fish marks the latest notable arrival at the Ferry Building, which continues to evolve post-pandemic with closures, such as the upcoming departure of Grande Crêperie, and a flurry of new tenants, including forthcoming bakery Parachute and restaurant Arquet from the team behind San Francisco's Michelin-starred Sorrel.
Yahoo
2 hours ago
- Yahoo
Switch 2 breaks Nintendo record, selling 3.5 million units in 4 days
Nintendo sold more than 3.5 million units of its new Switch 2 console in the four days after it launched, breaking a record for company hardware sales, the Japanese gaming company said on Wednesday. Customers essentially cleared out the stock Nintendo had built up over the past months for the market launch in just a few days after June 5. Some online retailers are now quoting waiting times of up to two months. In early May, Nintendo set a sales target of approximately 15 million Switch 2 consoles by the end of the current fiscal year in March 2026. Some market experts consider this forecast cautious given the high demand for the device. However, Nintendo chief executive Shuntaro Furukawa assured at the time that its prediction was not influenced by any limits on production capacity. It is not unusual for there to be a rush for gaming consoles at launch, with sales quickly normalising afterwards. However, the Switch 2 is the console upgrade that many Nintendo fans have long been waiting for, arriving more than eight years after the release of the original. The rapid sell-out is also a positive sign for Nintendo, as the Switch 2 is significantly more expensive than the original model, with a higher launch price of $450/€470 or $499/€509 with the flagship game "Mark Kart World". The new Nintendo console is also being released at a time of change in the gaming industry. Many users are turning to game streaming, where games run on servers online and are transmitted to devices like televisions over fast internet connections. Nintendo, however, is for the time being committing itself to games with the company's popular characters, such as Super Mario, only running on its own consoles. With this approach, the Japanese company has sold more than 150 million units of various Switch console models. A key factor in this success is that the devices can be used both on the go and connected to a television. However, with more elaborately designed new games, it has recently become evident that the original Switch is reaching its technical limits.
Yahoo
3 hours ago
- Yahoo
Trends Shaping Japan's USD 15.6 Billion Home Accessories Market, 2025-2030: Mirrors, Candles, Lighting, Vases & Bowls, and Other Products
Japan's home accessories market is thriving, driven by minimalistic designs, urban lifestyle shifts, and e-commerce growth. Key opportunities include tapping into eco-friendly trends, leveraging smart technology, appealing to single households, and meeting high consumer demand for quality and versatile designs. Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Japan Home Accessories Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Japan Home Accessories Market was valued at USD 10.23 billion in 2024, and is expected to reach USD 15.61 billion by 2030, rising at a CAGR of 7.30%. Market growth is being driven by a combination of cultural values, urban lifestyle changes, and increased consumer spending. Japanese preferences for minimalist, functional, and aesthetic designs are fueling demand for compact, multi-purpose home accessories. The influence of international trends and popular home organization concepts such as KonMari is further shaping consumer tastes. Demographic shifts, including an aging population and rising single-person households, are prompting demand for ergonomic and space-efficient solutions. E-commerce expansion and the integration of smart technologies - such as modular decor and smart lighting - are broadening product accessibility and appeal. Sustainability is becoming a core focus, with consumers favoring locally sourced, eco-friendly materials. These factors are collectively fostering innovation and quality, making Japan's home accessories market a dynamic and growing segment within the home decor and furnishings industry. Key Market Driver Rising Homeownership Across the Region: The increase in homeownership, particularly in Japan's rural regions, is playing a crucial role in driving the home accessories market. As of 2023, Japan's homeownership rate stood at 60.9%, supported by initiatives like "akiya banks," which offer vacant homes at low costs to encourage renovation and settlement. These trends are spurring demand for home accessories that blend traditional Japanese aesthetics with modern functionality. Consumers, particularly younger homeowners relocating to rural areas, are seeking personalized solutions for home renovation projects. Popular items include modular furniture, smart home accessories, and decor that reflects both contemporary taste and cultural heritage. This growth in homeownership not only stimulates demand for furnishings but also aligns with lifestyle changes that prioritize comfort, efficiency, and sustainability, thereby expanding the scope and appeal of the home accessories market. Key Market Challenge High Competition and Price Sensitivity: The Japan home accessories market is characterized by intense competition and heightened price sensitivity. Both domestic and international brands vie for consumer attention, creating a crowded and competitive landscape. As a result, companies face challenges in differentiating their products and building long-term customer loyalty. The prevalence of similar offerings often triggers price-based competition, which compresses profit margins and limits pricing flexibility. Japanese consumers are especially discerning and value-conscious, carefully evaluating quality and price before purchasing. This environment requires brands to maintain a delicate balance between affordability, design innovation, and quality assurance. Companies must also streamline production and supply chains to remain competitive, while staying responsive to shifting consumer expectations in a highly saturated and fast-paced market. Key Market Trend Rising Demand for Eco-Friendly Products: The growing emphasis on sustainability is significantly impacting Japan's home accessories market. Consumers are increasingly choosing products crafted from environmentally friendly materials like bamboo, recycled metals, organic fabrics, and reclaimed wood. This shift aligns with longstanding cultural values that appreciate natural simplicity and imperfection, such as wabi-sabi. Manufacturers are responding with offerings that reflect these preferences, including biodegradable decor items, modular furniture, and energy-efficient lighting. The Japandi trend, which merges Japanese minimalism with Scandinavian functionality, is also contributing to the popularity of eco-conscious design. These sustainability trends are not only influencing consumer behavior but also driving ethical innovation across the supply chain, positioning eco-friendly products as a key pillar of market growth. Key Market Players Profiled: Nitori Co., Ltd. Ryohin Keikaku Co., Ltd. Francfranc Corporation IKEA Japan K.K. Miles Kimball Herman Miller, Inc. home24 Dekorcompany Pepperfry Limited D'decor Report Scope In this report, the Japan Home Accessories Market has been segmented into the following categories: Japan Home Accessories Market, By Product Type: Mirrors Candles Lighting Vases & Bowls Others Japan Home Accessories Market, By Price Range: Economy/Mass Premium/Luxury Japan Home Accessories Market, By Distribution Channel: Supermarket & Hypermarket Gift Shops Dedicated Pet Stores Online Others Japan Home Accessories Market, By Region: Hokkaido & Tohoku Chubu Chugoku Kyushu Rest of Japan Key Attributes Report Attribute Details No. of Pages 82 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $10.23 Billion Forecasted Market Value (USD) by 2030 $15.61 Billion Compound Annual Growth Rate 7.3% Regions Covered Japan For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
