Knitting makes a comeback among Japanese youth
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Japan Times
11 minutes ago
- Japan Times
Eight opposition parties agree to push for extra gasoline tax to be scrapped
Eight opposition parties on Tuesday agreed to push for scrapping the provisional add-on gasoline tax rate on Nov. 1. At the day's meeting among policy chiefs, the parties, including the main opposition Constitutional Democratic Party of Japan (CDP), affirmed a plan to jointly submit a bill to implement such a tax cut during an extraordinary parliamentary session slated to be convened Friday. The opposition parties are hoping to raise public expectations for political change, as the ruling coalition no longer holds a majority in either chamber of parliament after losing their combined majority in the July 20 election for the House of Councilors, the upper chamber. Meanwhile, the CDP is aiming to foster trust among opposition parties. Tuesday's meeting was attended by policy chiefs from the CDP, Nippon Ishin no Kai, the Democratic Party for the People, Sanseito, Reiwa Shinsengumi, the Japanese Communist Party, the Conservative Party of Japan and the Social Democratic Party. The CDP plans to call on the ruling camp of the Liberal Democratic Party and Komeito to hold talks on ways to ensure the abolition of the provisional gasoline tax rate. "We'll strongly push for the enactment (of the bill) during next month's extraordinary parliamentary session," CDP policy chief Kazuhiko Shigetoku told reporters after the meeting. "We'll not allow the tax cut to be postponed beyond Nov. 1," he added. As the LDP has expressed reluctance to scrap the extra gasoline tax rate starting in November, talks between the ruling and opposition parties may stall.
Japan Times
11 minutes ago
- Japan Times
Finance Ministry upgrades economic view on Okinawa
The Finance Ministry on Tuesday upgraded its economic view on Okinawa Prefecture, reflecting robust vehicle sales and an increase in Japanese and foreign tourists. In a quarterly report, the ministry left its view on the other 10 regions unchanged. It also adopted the same national economic assessment for the ninth straight quarter, saying that the economy remains on a gradual recovery trend. The ministry's local finance bureaus across the country reviewed regional economic situations in the past three months and reported the outcome at a meeting of local bureau heads Tuesday. By category, the government upgraded its view on private consumption in the Tohoku region and Okinawa while revising down that in the southwestern region comprising Fukuoka and two nearby prefectures. Regarding production, the ministry downgraded its view on the Hokuriku region and the Kinki region but upgraded that on Okinawa. "It is unclear how the U.S. tariff policies will affect the economy," a machinery industry company in Kinki was quoted as saying. "Corporate investment related to vehicle production may have been postponed, leading to sluggish demand for analytical instruments." On employment, the ministry left its view unchanged in all 11 regions. Looking ahead, it said the economy is expected to recover moderately, backed by improvement in employment and income conditions. It also called for a close watch on effects of persisting inflation and the U.S. trade policies.
Nikkei Asia
40 minutes ago
- Nikkei Asia
Sweden's EQT to buy out Japan's Fujitec in all-share $2.7bn deal
Fujitec's headquarters in Shiga, Japan. (Photo by Norika Taguchi) Nikkei staff writers TOKYO -- Elevator maker Fujitec has been targeted for a 400 billion yen ($2.7 billion) buyout by Swedish investment group EQT, sources told Nikkei on Tuesday. The buyout value of the Tokyo-listed company will be the third largest buyout deal this year for a Japanese listed company after those involving Toyota Industries and NTT Data.
