News On Japan

Japan continues exporting huge number of used cars to Russia

Aug 04 (New Straits Times) - Despite imposing various sanctions against Russia, Japan is still exporting a huge number of used cars to the country.

Export figures show that the number of used cars sent to Russia have tripled since May and about 40,000 more cars are waiting to be sent over to Russia.

The Asahi Shimbun reports that in late June, the Vladivostok Port in Russia's Far East was packed with new and used cars transported from Japan and South Korea. Many of them are SUVs, minivans and large luxury models.

According to the report, Russian companies said they were flooded with orders from across the country and were often forced to stop taking orders as they were unable to meet the demand.

The Asahi Shimbun report said between 40,000 and 45,000 vehicles have been purchased and were waiting for loading in Japan.

Further compounding the issue is that Japanese shipping companies have stopped their services from Yokohama and Kobe to Russia's Far East due to the economic sanctions against the country.

A Russian cargo ship loaded with used cars had also caught fire while it was en route to Vladivostok from Fushiki Port in Toyama Prefecture in late June, resulting in its temporary suspension.

The report also said that Japanese used cars have become cheaper mainly due to the strong Russian ruble.

Before the conflict started, one ruble was around 1.5 yen and it dropped to less than 0.9 yen shortly after that. ...continue reading

News On Japan
POPULAR NEWS

The Japanese government has decided to expand its tuition-free high school program this spring. Public high school tuition is now completely free regardless of household income, and starting next academic year, the scope of support for private schools will also be broadened.

Shuri Castle, a symbol of Okinawa's Ryukyu heritage, suffered extensive damage in a devastating fire in October 2019 that destroyed the main hall and many other structures. The cause of the blaze remains unknown.

A deepening labor shortage in Japan’s construction industry is beginning to impact homebuyers, with some experiencing delays of more than six months before construction can even begin due to a lack of available carpenters.

The Imperial Household Agency launched an official YouTube channel on April 1st to introduce the activities of Emperor Naruhito and Empress Masako.

Japan's new fiscal year began on April 1st, with companies across the country holding entrance ceremonies to welcome new employees.

MEDIA CHANNELS
         

MORE Business NEWS

Over 20,000 people attended the Camping Car Show held last month in Osaka over two days, reflecting a growing interest in campers across Japan. What is driving this renewed popularity?

The prototype line for next-generation semiconductors developed by Rapidus is now ready, as a nationwide initiative to boost Japan's chip industry takes a major step forward in Hokkaido.

The Japanese government approved a cabinet ordinance on April 1st to introduce a new pre-screening system for foreign companies investing in Japan. The revised regulation will take effect on May 19th.

The Bank of Japan's March Tankan survey, a key quarterly economic report, showed that business sentiment among large manufacturers has deteriorated for the first time in four quarters.

Tokyo has made it mandatory to install solar panels on newly built houses starting April 1st, as part of its broader effort to halve greenhouse gas emissions by 2030.

The new fiscal year began on April 1st, with companies across the Kansai region holding entrance ceremonies to welcome new employees.

Japan's new fiscal year began on April 1st, with companies across the country holding entrance ceremonies to welcome new employees.

Sukiya, one of Japan's leading beef bowl restaurant chains, announced it will temporarily close nearly all of its stores after an insect was found in a food item served at one of its outlets.