Analysis: Anti-US summit in Tianjin to follow Trump-Putin Alaska meeting
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Japan Times
7 hours ago
- Japan Times
Welcoming foreign residents benefits Japan, three quarters of economists say
About three quarters of economists say an increase in foreign residents in Japan is beneficial for Japanese citizens overall, according to a joint survey by the Japan Center for Economic Research (JCER) and the Nikkei daily. The survey of around 50 prominent Japanese economists was carried out between July 18 and July 28, and released on July 30. Policies relating to foreign residents emerged as a key issue ahead of the recent Upper House election, held July 20. 'By creating an environment where they can overcome differences in language, culture and customs, and demonstrate their abilities — such as improving education for foreign exchange students — foreign workers will contribute to alleviating the labor shortage and improve productivity. And, as a result, it will lead to an improvement in the standard of living of Japanese people,' said Makoto Hasegawa, an associate professor at Kyoto University who was one of the respondents. When asked whether the increase in foreign residents would contribute to improving the average living standards of Japanese citizens, 76% responded 'strongly agree' or 'agree,' with many arguing that there should be measures to better integrate them in society. Just 2%, or one economist, 'disagreed.' Yasushi Iwamoto, a professor at the University of Tokyo and the only respondent who 'disagreed,' said he did so to sound a warning. 'There are many countries in which their immigration policies have failed because they've only seen foreigners as a labor force, rather than people who live as members of society,' he explained. 'Japan's policies are taking a similar approach, so, if the costs are not considered, overall living standards will eventually decline.' Another 15% of respondents said they were 'uncertain,' citing various factors like skill levels among those arriving from overseas. A majority of respondents (66%) also took the view that an increased number of foreign residents would help improve Japan's fiscal health. The number of foreign residents in Japan hit a record high at 3.76 million as of the end of last year, comprising just over 3% of the population, with the figure steadily increasing. Courting an increase in foreign skilled labor has long been a government policy priority as a means to tackle the country's labor shortage. However, there has been a shift in the political discourse, with the government tightening restrictions to crack down, for instance, on foreign residents who have failed to pay pension premiums and health care fees. Japan's weak yen has given many foreign tourists outsized spending power, while inflation has been taking a toll on Japanese households. Such factors have helped fuel a political message that Japan is being exploited. In the survey, a number of the economists highlighted the need for nuance to avoid the conflation of 'foreigners' who may be in Japan temporarily, and long-term, committed foreign residents. While Japan has fairly stringent bureaucracy, in some areas its regulations are more liberal than other countries — such as those around property ownership, where there are relatively few restrictions placed on overseas buyers. On this subject, 32% of economists said it would be desirable to strengthen regulations on real estate purchases by foreign nationals and foreign companies while 21% said they 'strongly disagree' or 'disagree.' Hisaki Kono, an associate professor at Kyoto University, who 'agreed' with such a move, said that nonresident foreigners and foreign workers should be subject to additional taxation when they purchase real estate, while foreign residents with permanent residency should be treated the same as Japanese nationals. 'This will help keep housing prices from rising, which will benefit Japanese people along with permanent foreign residents who are contributing to the Japanese economy,' he said.
Nikkei Asia
8 hours ago
- Nikkei Asia
Japan's Minebea Mitsumi raises offer for Shibaura to counter Taiwan bid
Minebea Mitsumi has raised its white knight offer for Shibaura Electronics. (Source photos by Nikkei) YOSHIKA KAKU August 14, 2025 18:41 JST TOKYO -- Japanese ball bearings maker Minebea Mitsumi announced Thursday that it will raise its tender offer price for Shibaura Electronics to 6,200 yen ($42) per share, matching the bid from Taiwan's Yageo, which is pursuing an unsolicited takeover of the temperature sensor maker.
The Mainichi
9 hours ago
- The Mainichi
Tokyo stocks snap 6-day rally as gains locked in after record highs
TOKYO (Kyodo) -- Tokyo stocks snapped a six-day winning streak Thursday as investors locked in gains after the Nikkei benchmark closed at an all-time high for a second consecutive day and the yen strengthened against the U.S dollar. The 225-issue Nikkei Stock Average ended down 625.41 points, or 1.45 percent, from Wednesday at 42,649.26. The broader Topix index finished 33.96 points, or 1.10 percent, lower at 3,057.95. On the top-tier Prime Market, notable decliners were machinery, wholesale trade and transportation equipment issues. The dollar weakened to the lower 146 yen range in Tokyo after U.S. Treasury Secretary Scott Bessent, speaking in an interview, called on the Federal Reserve to cut interest rates by 0.5 percentage point at its policy meeting next month. The yen was also bought after Bessent said Japan is falling behind the curve in addressing inflation, fueling speculation about a Bank of Japan interest rate hike, dealers said. On the stock market, investors grew concerned about overheating after the Nikkei benchmark gained nearly 3,000 points over the past six trading days and closed above 43,000 for the first time ever on Wednesday. Exporter shares also drew selling on the stronger yen, which decreases exporters' overseas profits when repatriated. "The yen's appreciation provided investors a good excuse to secure profits," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. Meanwhile, both trading volume and value were low amid fewer participants during Japan's summer Bon holidays, brokers said.
