Nintendo Q1 profit grows 4%, beating estimates
The Kyoto-based gaming company said it sold 5.82 million units of the Switch 2, which went on sale on June 5, during the quarter.
The successor to the hit home-portable Switch gaming device launched in the midst of U.S Donald Trump's trade war, testing Nintendo's supply chain management.
Nintendo maintained its full-year sales forecast of 15 million Switch 2 units.
($1 = 150.5800 yen)
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CNA
4 hours ago
- CNA
Gaia Series 97: "Miracle Wheat" - Japanese people changing the world
This week's episode explores Japan's rice crisis and the global race for wheat resilience in a warming world. In this thought-provoking episode, viewers are presented with the harsh realities of Japan's rice shortage and the global wheat crisis, framed through the lens of scientific innovation and human resolve. The programme offers not only a critical look at the dwindling domestic rice supply, but also a deeply personal journey through the life and legacy of Professor Hisashi Tsujimoto, who has dedicated more than four decades to developing wheat resilient to extreme heat and drought. The story begins with the 'Reiwa Rice Crisis', a term coined to describe the surge in rice prices in Japan. At the 2025 FABEX Tokyo food trade show, the demand for rice-based products underscores the national concern. 'Prices nearly doubled in just one year,' the narrator states, as the camera pans across long queues and signs limiting customers to 'one bag per person'. Shinmei Co Ltd, one of the country's leading rice wholesalers, plays a prominent role. Its president, Mitsuo Fujio, who also serves on the Ministry of Agriculture, Forestry and Fisheries Food Department Council, warns, 'If the population continues to grow, they say we'll need 1.7 times more food than we have now.' He adds, 'The battle for food has already begun.' Decades of rice-reduction policies have taken a toll. Over the last 50 years, the number of rice farmers in Japan has dropped by 80 percent, and production has fallen 40 per cent from 12.53 million tonnes in 1970 to just 7.76 million tonnes in 2020. To meet demand, imports of foreign rice have surged, but consumer confidence in domestic rice continues to erode. As Japan grapples with this crisis, the focus shifts to wheat. Approximately 2.5 billion people worldwide rely on it as a staple, but its price remains volatile, affected by climate events and geopolitical tensions such as the war in Ukraine. 'Even a small rise in the price of wheat can be life or death for people in developing nations,' the narrator explains. At the heart of this global struggle is Professor Hisashi Tsujimoto, 66, a specialist in wheat breeding. 'Wheat is often called a strategic crop, but to prevent it from being used that way, I believe we must ensure a stable, sufficient supply,' he says. At the Tottori University Arid Land Research Centre, where summer temperatures can reach 60°C, Tsujimoto breeds wheat to endure the planet's harshest climates. His methods are painstaking. Each year he makes over 300 crossbreeds, manually transferring pollen between varieties. 'Both bread wheat and macaroni wheat are heat-tolerant,' he explains. 'I'm combining the heat-resistance genes into a single plant, to create a super heat-resistant variety.' These experiments are critical, especially since Japan's wheat self-sufficiency is only 16 per cent. Tsujimoto's field research took him to Sudan over a decade ago. Out of 1,000 wheat varieties he tested, six adapted well to the local environment. His local counterpart, Mr Izzat, led the final stages of research with national hopes pinned on success. But in 2023, civil war broke out. Guerrilla forces looted the research facility and destroyed the seeds. Despite the devastation, hope was rekindled when a Moroccan university extended an invitation for joint research. Wheat from Tottori was once again bound for Africa. In August 2024, Tsujimoto arrived in Morocco, only to be confronted by even more severe conditions than in Sudan. The local irrigation channels had been dry for years. 'There's absolutely zero water,' he observes. 'Seeing it in person makes me want to take action. It really motivates me to do something.' He travelled to Arad Village, where 740 residents live amid withered olive groves. There, he introduced drought-resistant wheat to local farmers. 'Would you all like to try growing drought-resistant wheat?' he asks. One villager responds, 'Of course.' Tsujimoto explains the wheat can 'save water by 30 per cent'. The gratitude of the villagers was evident. A local elder prepared couscous and traditional bread, including batbout and baghrir. 'Wheat truly takes centre stage at the table,' the episode's narrator observes. Back in Tottori, the Daisen Wheat Project is trying to restore local wheat production, which had nearly vanished by the 1990s. Inspired by Tsujimoto, the project now yields 300 tonnes a year. Schoolchildren in Yonago enjoy bread made from this local wheat, although it only appears once a week on their lunch menu. 'But if it's gone, we can't share those memories. One less thing to remember,' says one local. At Tottori University, younger scientists are carrying the baton forward. Associate Professors Sakuma and Ishii, both 39, are researching ways to increase wheat yield and even developing a hybrid of wheat and rice called 'Rice Wheat'. 'We're developing a plant never before seen in the world,' says Ishii. In April 2025, Tsujimoto returned to Morocco where 120 varieties of wheat had been sown. Farmers from Arad Village gathered to evaluate the trial plots. One variety in particular caught their attention. 'It's growing green and healthy with barely any water,' a farmer notes. Tsujimoto names it 'The Children of Arad Village'.
Straits Times
5 hours ago
- Straits Times
India will continue to buy Russian oil, government sources say
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CNA
8 hours ago
- CNA
Trump fires BLS commissioner, raising concerns about economic data quality
WASHINGTON: United States President Donald Trump fired the Labor Department's Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer on Friday (Aug 1) after data showed weaker-than-expected employment growth in July and massive downward revisions to the prior two months' job counts. Trump accused McEntarfer, who was appointed by former president Joe Biden, of faking the jobs numbers. There is no evidence to back Trump's claims of data manipulation by the BLS, the statistical agency that compiles the closely watched employment report, as well as consumer and producer price data. The US economy created only 73,000 jobs in July. Data for May and June were revised sharply down to show 258,000 fewer jobs created than had been previously reported. "We need accurate Jobs Numbers. I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified," Trump said in a post on Truth Social. The BLS did not immediately respond to a request for comment. William Wiatrowski, the deputy commissioner, will serve as acting commissioner. The Trump administration's recent mass layoffs of federal government workers have raised concerns about the quality of US economic data, long seen as the gold standard. Economists, labour unions and Democratic Party leaders criticised the firing as an attempt by the Trump administration to manipulate data and warned of lasting damage to the economy. "The civil servants at BLS are not political actors. They are professionals committed to producing accurate, independent data, regardless of who is in power," said American Federation of Government Employees national president Everett Kelley. McEntarfer had worked in the federal government for more than two decades under multiple administrations, Kelley said. Trump-aligned Republicans were supportive of the BLS firing, calling McEntarfer a "Biden holdover". DATA CREDIBILITY NOW IN QUESTION "Politicising economic statistics is a self-defeating act," said Michael Madowitz, principal economist at the Roosevelt Institute's Roosevelt Forward. "Credibility is far easier to lose than rebuild, and the credibility of America's economic data is the foundation on which we've built the strongest economy in the world. Blinding the public about the state of the economy has a long track record, and it never ends well." Earlier this year, Commerce Secretary Howard Lutnick disbanded two expert committees that worked with the government to produce economic statistics. Lutnick has also floated the idea of stripping out government spending from the gross domestic product report, claiming "governments historically have messed with GDP". The BLS has already reduced the sample collection for consumer price data as well as the producer price report, citing resource constraints. The government surveys about 121,000 businesses and government agencies, representing approximately 631,000 individual worksites for the employment report. The response rate has declined from 80.3 per cent in October 2020 to about 67.1 per cent in July. "In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad," Trump wrote in another Truth Social post, without offering any evidence. Economists attributed the near-stall in job growth to Trump's trade and immigration policies. They said uncertainty about where Trump's tariff level would settle had made it difficult for businesses to plan long-term. More clarity has emerged as the White House has announced trade deals, but economists said the effective tariff rate was still the highest since the 1930s. Trump slapped dozens of trading partners with steep tariffs on Thursday, including a 35 per cent duty on many goods from Canada.
