Kishida discloses ambitious inflation-fighting package

Jun 21, 2022 | News On Japan

Jun 21, 2022 (NHK) - Japan's Prime Minister Kishida Fumio has said he is planning to roll out a package of measures to fight inflation.

The aim is to curb rising prices of agricultural products and reduce electricity costs.

Kishida made the pledge at the first meeting of a government taskforce to deal with inflation.

He said he would get to work on the comprehensive package worth 13 trillion yen, or about 96 billion dollars.

One part would be aimed at reducing the cost of producing agricultural products by 10 percent.

A funding program would tackle surging prices of fertilizers and animal feed.

The plan would also provide farmers with incentives to engage in environmentally-friendly agriculture.

Kishida touched on electricity costs. He said he will create a system that grants redeemable points to households that have conserved a certain amount of electricity.

Another program would allow utility companies to buy surplus power from businesses.

Typhoon No. 25 Threatens Kanto and Izu Islands

Large Typhoon No. 25 was moving northwest over waters south of Japan at 3 p.m. on September 19 and is forecast to strengthen as it approaches Kanto and the Izu Islands from September 20 through September 21, bringing the risk of torrential rain, violent winds and further damage in areas still recovering from last year's typhoon.

Bear Sighting Raises Alarm at Popular Tokyo Hiking Spot

A black bear has been spotted near one of the most popular hiking trails on Mount Takao in western Tokyo, prompting authorities to urge visitors to take precautions ahead of the five-day Silver Week holiday and the approaching autumn foliage season.

Starbucks Considers Selling Majority Stake in Japan Business

Starbucks is considering selling a majority stake in its Japanese business, potentially valued at as much as $3 billion, or about 470 billion yen, as the U.S. coffee chain seeks to concentrate management resources on its struggling North American operations.

Halloween Jumbo Lottery Goes on Sale With 400 Million Yen Top Prize

Japan's Halloween Jumbo Lottery went on sale nationwide on September 16, offering a combined top payout of 400 million yen for the first prize and its adjacent-number prizes.

Shinkansen Introduces New Luxury Private Compartment

A new top-tier "Supreme Class" offering fully private compartments above the level of Green Car service will debut on the Tokaido and Sanyo Shinkansen on October 1, with passengers able to experience the new seating at a demonstration booth at Shin-Osaka Station.

MEDIA CHANNELS

MORE Politics NEWS

Takaichi Reshuffles Cabinet To Steady Markets And Party

Prime Minister Sanae Takaichi launched her first cabinet reshuffle since taking office, keeping core economic, foreign-policy and security ministers in place while replacing a broad group of other ministers in an attempt to stabilize her government before a difficult autumn of tax, budget, monetary policy and diplomatic battles.

Japan Confirms Global Hawk Drone Crashed Off Tottori

Japan's Air Self-Defense Force has concluded that a large Global Hawk unmanned reconnaissance aircraft that lost communication off Tottori Prefecture on September 15 crashed into the sea.

Takaichi Retains Core LDP Team

Prime Minister Sanae Takaichi launched a new Liberal Democratic Party executive team on September 16, retaining most of the party’s senior leadership while pledging to unite the government and ruling party to overcome a difficult political and economic environment.

Global Hawk Reconnaissance Drone Missing Off Tottori

A Japan Air Self-Defense Force Global Hawk unmanned reconnaissance aircraft went missing over international waters about 50 kilometers north of Tottori Prefecture on September 15, with floating debris and oil later found in the area where communications were lost.

Tax Cut Plan Leaves Funding Gap As BOJ Decision Nears

Prime Minister Sanae Takaichi’s government entered a decisive political week on September 15 after approving an outline for food-tax relief and household payouts without settling how the package will be funded, keeping fiscal concerns alive just days before the Bank of Japan is expected to decide whether to raise interest rates again.

Japan to Cut Food Consumption Tax to 1% for Two Years

Japan's government is set to approve tax reform guidelines on September 15 that will reduce the consumption tax on food from the current 8% to 1% for two years starting in April 2027 as part of measures to ease the burden of rising prices.

LDP-Backed Koja Wins Okinawa Governor Race

Genta Koja, a former deputy mayor of Naha who accepts the relocation of the U.S. Marine Corps Air Station Futenma to Henoko in Nago, won the Okinawa gubernatorial election on September 13, defeating incumbent Governor Denny Tamaki and bringing an end to 12 years of prefectural administrations committed to blocking the project.

Takaichi Says Okinawa Election Reflects Voters' Demand for Economic Growth

Prime Minister Sanae Takaichi said the victory of Genta Koja in the Okinawa gubernatorial election reflected the wishes of prefectural residents seeking stronger economic growth, with senior ruling party officials viewing the result as a boost for her administration.

< 2 3 4 5 >