Society

Light at the end of the tunnel? Large Japanese firms' confidence on the rise

Dec 11 (Japan Times) - Business sentiment among large companies in the October-December period rose for the second straight quarter, remaining positive after a plunge earlier this year due to the fallout from the coronavirus pandemic, a government survey showed Thursday.

The confidence index covering firms capitalized at Â¥1 billion or more stood at plus 11.6 in the fourth quarter of 2020, up from plus 2.0 in the July-September period, according to the joint survey by the Finance Ministry and Cabinet Office.

The latest figure hit the third-highest level since comparable data became available from the April-June quarter of 2004.

The reading has been recovering from minus 47.6 in the April-June this year, the lowest since minus 51.3 in the first quarter of 2009 in the wake of the global financial crisis.

The index is calculated by subtracting the percentage of firms reporting worsening conditions from those observing improvements.

The survey results reflected the gradual resumption of economic activity in the country following the complete lifting in late May of a state of emergency declaration. Under the declaration, which began in April, people were asked to stay home and nonessential businesses were asked to suspend operations.

By sector, the index for manufacturers came to plus 21.6, up from plus 0.1 in the previous quarter to hit a record high. The index for nonmanufacturers stood at plus 6.7, up from plus 2.9.

Takaichi Becomes Japan’s First Female Prime Minister

A new chapter opened in Japan’s political history on October 21st as Sanae Takaichi was elected the nation’s first female prime minister. Following her appointment by the Diet, Takaichi declared that her new cabinet would be one of “decision and progress,” pledging to move swiftly on policies from the very first day.

Typhoon No. 24 (Fung-shen) Strengthens Over South China Sea, Heavy Rain Forecast For Japan

Typhoon No. 24 (Fung-shen) is strengthening over the South China Sea and is expected to make landfall in Vietnam later this week, according to forecasts. Satellite images on October 201st show extensive cloud coverage over the central South China Sea. After passing over the Philippines, Fung-shen temporarily weakened but is projected to intensify again as it continues westward through Tuesday.

Tourist Graffiti Threatens Kyoto’s Iconic Bamboo Forest

Kyoto’s world-famous Arashiyama district, a popular destination for both domestic and international tourists, is facing a growing problem of graffiti etched into the bamboo along its iconic “Bamboo Grove Path,” with more than 350 stalks now damaged — a practice that experts warn could eventually cause bamboo to weaken, fall, and even injure visitors.

Japanese Streaming Services Struggle Against Netflix

Japan’s streaming industry is under growing pressure as foreign giants tighten their grip on the domestic market, with Netflix’s latest move to secure exclusive broadcast rights in Japan for every game of the World Baseball Classic next March highlighting the widening gap.

Japan Tightens Rules on Foreign Business Visas

Investigators from the Immigration Services Agency conducted on-site inspections in Osaka on October 14th amid a surge in so-called 'paper companies' created by foreign nationals seeking residency.

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