Japan's ruling bloc agrees on rent relief plan for virus-hit firms

May 09, 2020 | News On Japan

May 09, 2020 (Japan Today) - Japan's ruling parties finalized on Friday a plan to cover part of the monthly rent of small and midsize businesses struggling under the economic impact of the new coronavirus.

Under the proposal submitted to Prime Minister Shinzo Abe, the government will shoulder two-thirds of rent for up to six months if small businesses, irrespective of sector, experience revenue drops.

The maximum cap for relief will be set at 500,000 yen a month and 250,000 yen for the self-employed. The ruling coalition hopes the program, estimated to cost nearly 2 trillion yen, will start in June.

Smaller businesses that are eligible to receive rent relief need to have logged either a revenue fall of over 50 percent from a year ago or of over 30 percent within the past three months.

"Based on the proposal, the government will make all-out efforts to take measures as speed is of essence," Abe said as he received the proposal from senior lawmakers from the Liberal Democratic Party and coalition partner Komeito.

To finance the measure, the government and the ruling coalition are considering drawing up another extra budget for the current fiscal year that began in April, sources close to the matter said, with an eye to its enactment before the current Diet session ends on June 17.

Finance Minister Taro Aso hinted before the ruling party plan was submitted Friday that the compilation of another supplementary budget would not come until at least June.

"We need to implement the first extra budget and see how the situation unfolds in April and May," Aso told reporters.

After facing criticism for his handling of the coronavirus crisis, Abe has been stepping up state spending to extend support to households and companies. A 100,000 yen ($930) cash handout for all residents of Japan is part of relief measures that the government has already decided to roll out.

Last week, parliament enacted a 25.69 trillion yen extra budget for fiscal 2020 after the government, in a rare move, reworked its original budget to reflect Abe's decision, at the urging of Komeito, not to limit the recipients of cash handouts.

Source: ANNnewsCH

Toyota to Launch Self-Driving Taxis in 2027

Toyota Motor will begin operating fully autonomous taxis in 2027 through a partnership with U.S. self-driving technology company Waymo, marking a major step in the Japanese automaker's efforts to expand driverless transportation services.

Mount Fuji Puts on First Snowcap

Mount Fuji has received its first snowcap of the season, the Japan Meteorological Agency announced on October 30, after temperatures at the summit plunged to minus 9.4 degrees Celsius, marking the arrival of winter conditions on Japan's highest mountain.

Chinese Female Spy Suspected of Targeting Nvidia Chief

U.S. intelligence agencies suspect that a Chinese female intelligence operative developed a close relationship with Nvidia CEO Jensen Huang in an attempt to obtain confidential corporate and U.S. government information, according to a report published by The New York Times on October 29th.

Japan Blocks Websites Leaking GMO Personal Data

The Japanese government has asked major telecommunications operators to forcibly block access to websites believed to contain personal information stolen in a cyberattack on GMO, it emerged on October 29th, as authorities moved to prevent further exposure of sensitive data online.

Typhoon No. 31 Heads Toward Japan's Remote Islands

Typhoon No. 31 was located near Minamitorishima Island in the Pacific Ocean, as of 3 a.m. on October 30, and was expected to approach the Ogasawara Islands south of Tokyo over the October 31-November 1 weekend while maintaining very strong intensity, bringing a growing risk of dangerously high waves, powerful swells and extremely rough seas.

MEDIA CHANNELS

MORE Society NEWS

Landlords Bear Financial Burden of Lonely Deaths

Japan's rapidly aging population is facing a growing crisis of elderly people dying alone at home, with grieving families sometimes unable to see their loved ones before burial and landlords increasingly forced to shoulder substantial cleanup and estate clearance costs when relatives abandon their inheritance.

Prison Inmates Help Preserve Japan's Traditional Crafts

Traditional Japanese crafts are finding an unexpected source of skilled workers in prisons across the country, where inmates are learning painstaking production techniques that build patience and concentration while helping preserve industries struggling with a shortage of craftspeople.

South Korean Man Arrested Over Killing of Japanese Woman Following Stock Crash

A Japanese woman in her 20s was found dead at an apartment complex in Cheonan, central South Korea, on October 29th, prompting police to detain a South Korean man in his 30s on suspicion of murder after he allegedly confessed to killing her because he had decided to commit suicide following stock market losses but could not bring himself to die alone.

Japan's Imperial Family Hosts Autumn Garden Party

Emperor Naruhito and Empress Masako hosted the annual autumn garden party at the Akasaka Imperial Gardens in Tokyo on October 29, welcoming approximately 1,400 guests, including actor Kotaro Yoshida and novelist Miyuki Miyabe, while female members of the Imperial Family attended in traditional Japanese attire.

Rescuers Save Paraglider Who Stopped Breathing

A 59-year-old water sports rental shop owner in Omachi, Nagano Prefecture, has received a letter of appreciation from police after rescuing a paraglider who plunged into a lake on September 21, pulling the unconscious man from the water and performing CPR after discovering he was no longer breathing.

Couple's Gardening Hobby Turns Out to Be Cannabis Cultivation

A married couple in Aira, Kagoshima Prefecture, have been arrested after police discovered cannabis plants growing in pots on the terrace of their home during a search connected to a separate investigation, authorities said on October 28th.

Elderly Woman Drives Along Railway Tracks, Ends in Tragedy

A woman in her 80s was killed after her car entered railway tracks on the Odakyu Enoshima Line in Fujisawa, Kanagawa Prefecture, shortly before 10:30 p.m. on October 27, with security camera footage showing the vehicle traveling along the tracks, passing an oncoming train and stopping with its hazard lights flashing before being struck from behind by another train.

Teen Hospitalized After Electric Shock From Basketball Hoop

A teenage male was rushed to a hospital after suffering an electric shock while putting away a motorized basketball hoop at a gymnasium in Kitakyushu, Fukuoka Prefecture, in an accident believed to have been caused by an incompatible extension cord, according to a report on October 27th.

< 2 3 4 5 >