Economist: Japan business mood dims on Trump tariffs
The Bank of Japan will release its Tankan survey of business sentiment on July 1st. The results will provide important clues on how US tariffs are affecting business confidence and activity in Japan.
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NHK
an hour ago
- NHK
Japan's audit board: Many P-1 patrol planes unusable due to failures
Japan's Board of Audit has found that many of the Maritime Self-Defense Force's domestically-developed P-1 patrol aircraft, which cost a massive amount of taxpayers' money, remain unusable. P-1 patrol planes are used to search for suspicious submarines and vessels. They were developed and manufactured in Japan as a successor to the US-developed P-3C aircraft. A total of 35 P-1 planes were deployed from fiscal year 1991 through 2023, at a cost of more than 1.77 trillion yen, or about 12.2 billion dollars. The board said many of the aircraft are not in a condition where they are ready for their missions and where all the devices are functioning without any problems. Due to security reasons, the board did not give any details such as how many of the aircraft are unusable. But it said some of the aircraft cannot load certain types of weapons due to design flaws and that they require replacement parts. The board also said a certain ratio of aircraft engines are always left unusable after they become corroded by salt in the air during flight. The board told the Defense Ministry, the Maritime Staff Office and the Acquisition, Technology and Logistics Agency to improve the situation. The Defense Ministry said it will take the argument to heart and work to make usable as many aircraft as possible. It said, however, that alternative aircraft are readily available so the situation has not undermined Japan's defense.
NHK
2 hours ago
- NHK
Japan to ask other nations to oppose EU plan to regulate eel trade
Agriculture Minister Koizumi Shinjiro says Japan will urge other countries to jointly oppose the European Union's planned proposal to regulate international trade in eel species. Koizumi told reporters on Friday that the EU has decided to propose making all species of the fish -- including Japanese and American eel -- subject to regulations under the Washington Convention. The EU is set to table the proposal when parties to the convention, which regulates trade in endangered species, meet in November. European eel is already subject to trade controls under the pact. Grilled eel is a popular dish in Japan, especially to build up stamina during the hot summer months. The Fisheries Agency says the country relies on imports for about 70 percent of eel consumption. It says if trade in Japanese eel is regulated, imports would stall and prices could surge. Koizumi said stocks of Japanese eel are properly managed by Japan, China, South Korea and Taiwan. He said the species is not at risk of becoming extinct through international trade, as there is a sufficient amount of stocks. Koizumi called the EU's decision "extremely regrettable."
2 hours ago
Japan End-March Household Financial Assets at 2,195 T. Yen
News from Japan Economy Jun 27, 2025 17:30 (JST) Tokyo, June 27 (Jiji Press)--Financial assets held by households in Japan as of the March 31 end of fiscal 2024 increased 0.3 pct from a year before to 2,195 trillion yen, Bank of Japan data showed Friday. The balance decreased, however, from a record high of 2,236 trillion yen at the end of December 2024. The drop was affected by lower domestic stock prices and a stronger yen. Of the total, the end-March balance of shareholdings slid 3.7 pct from the end of last year to 268 trillion yen. Investment trust funds grew 8.8 pct from a year before to 131 trillion yen due to robust trades following the popularization of the new Nippon Individual Savings Account tax exemption program for small-lot investors. Still, the balance was 4.1 pct lower than the year-end level, reflecting market weakness. The balance of insurance policies fell 1.1 pct from last December to 411 trillion yen, because the stronger yen pushed down the value of foreign currency-denominated policies. [Copyright The Jiji Press, Ltd.] Jiji Press
