Golden Toilet Symbolizes Era of Excess

Feb 24, 2024 | News On Japan

TOKYO - As the Nikkei reaches historic highs, investors are reminiscent of the last time the market reached such dizzy heights in 1989, the end of an era as Heisei began, marked by the emergence of the Recruit scandal, considered the largest corruption scandal in the post-war era, leading to the formation of a new government led by Prime Minister Takeshita.

It was the peak of the bubble economy, where everyone, not just in stocks, seemed to be flourishing. One of the iconic symbols of that era was the appearance of gold toilets, a sign of excess wealth.

In the Tokai region, attention was drawn to a company that even built a disco for its employees. Metec, a company that grew through the dispatch of technicians, made headlines with its president at the time, who surprised society with innovative ideas. However, looking back, one might wonder if they went too far. During the bubble era, doing something modest wouldn't excite young people, so every day was filled with extravagant ideas.

A luxurious Bugatti, displayed inside a car showroom designed by a famous designer, cost a staggering ¥2.4 billion, and a Ferrari could be bought by teenagers and lent to others for a ride. They didn't think much about spending ¥10,000, treating it more like ¥1,000.

Platinum Plating Industry, which manufactures automobile bumpers and door handles, employs about 220 people and supplies parts to Toyota Group, among others. The company experienced a significant drop in production and sales due to the impact of the corona crisis, but it has since recovered. Sales of automobile parts are strong, but there are concerns, such as Toyota and Daihatsu's suspension of shipments. Foreign investors find Japanese stocks more attractive, but the rapid rise is not felt by everyone.

The gap in wealth is likely widening, with only the wealthy and individual investors benefiting, while ordinary salaried workers who only invest in savings accounts are likely to see few benefits from the rising stock prices, possibly widening the wealth gap.

Source: NEWS ONE

Typhoon No. 18 Moves Past Okinawa, Strong Winds Persist

Strong Typhoon No. 18 was gradually moving away from Okinawa and the Amami Islands on August 26 after disrupting flights and bringing violent winds, rough seas and heavy rain, although Okinawa's main island and Amami Oshima remained at risk of sudden downpours, powerful gusts and waves exceeding 6 meters through around midday. As of 4 a.m. on August 26, the typhoon was located about 80 kilometers west-northwest of Okinoerabu Island and was moving west-northwest at 15 kilometers per hour.

Mystery Deepens with 39 Kg Bread Trail Across Tottori

A series of mysterious illegal dumping incidents involving about 39 kilograms of sliced bread has been reported around Mount Daisen and other parts of Tottori Prefecture in August, with officials investigating whether the food may have been deliberately placed to attract wild animals.

Osaka Couple Donate 400 Million Yen for Giant Myaku-Myaku Statue at Expo Site

An 85-year-old couple have donated a combined 400 million yen to Osaka City with a request that the money be used to create a giant Myaku-Myaku statue about 20 meters tall at the former site of the Osaka-Kansai Expo, envisioning a landmark that could become a lasting symbol of the event and of renewed prosperity for Kansai and Japan.

Lawson to Cut Onigiri Prices by 10 Yen

Lawson plans to cut prices on its main line of onigiri rice balls by 10 yen from September 29 as falling rice prices begin to feed through to retail costs.

Taiji Boosts Security Against Anti-Whaling Activists

Police have established a temporary police post in the whaling town of Taiji, Wakayama Prefecture, ahead of the September 1 opening of the annual drive hunt for whales and dolphins.

MEDIA CHANNELS

MORE Business NEWS

Nikkei Falls as Nvidia Caution Hits Chip Shares

Tokyo stocks fell on August 25, with the Nikkei 225 closing at 64,980.53, down 0.8%, as investors sold semiconductor and electronics shares ahead of Nvidia’s earnings while a weak yen, elevated bond yields and renewed U.S. pressure on Iran kept risk appetite subdued.

Japan's Traditional Public Baths Feel Financial Heat

Japan's traditional neighborhood public baths are struggling with rising fuel, labor and operating costs, but unlike most businesses they cannot freely raise prices because admission fees remain regulated under a postwar price-control law introduced in 1946.

Nikkei Falls as Rising Yields Hit AI and Chip Shares

Tokyo stocks fell on August 24, with the Nikkei 225 closing at 65,528.09, down 488.27 points, or 0.74%, as global bond-yield pressure and caution ahead of Nvidia’s earnings triggered selling in artificial intelligence and semiconductor-related shares, even as the broader TOPIX edged higher.

Suzuki Unveils Kei EV Prototype With 310-Kilometer Range

Suzuki has unveiled a prototype of its first kei-class electric vehicle, the e SKY, which is scheduled to go on sale during the current fiscal year with a driving range of 310 kilometers, among the longest offered by a domestically produced kei EV.

Okinawa Taxi Drivers Seek 60% Higher Pay

Following the fare revision, a labor union representing taxi drivers in the prefecture and other groups held a news conference calling for the proportion of operating revenue paid to drivers to be raised from its current level to at least 60%.

China's Rare-Earth Magnet Exports to Japan Halve in July

China's exports of rare-earth magnets to Japan fell by more than half in July from a year earlier, while shipments of tungsten carbide remained at zero for a sixth consecutive month, according to trade data released by Chinese customs authorities.

Japan Consumer Prices Rise 1.8% in July as Food Costs Climb

Japan's nationwide core consumer price index rose 1.8% in July from a year earlier, with the pace of inflation accelerating for a second consecutive month as higher food prices and a rebound in energy costs outweighed a sharp decline in rice prices.

Mitsubishi Electric to Acquire U.S. Software Firm for Record 220 Billion Yen

Mitsubishi Electric said on August 20 that it will acquire U.S.-based PCI Energy Solutions, a developer of software used to manage electricity trading and other energy operations, in a deal worth about 220 billion yen, the largest acquisition in the Japanese company's history.

< 2 3 4 5 >