News On Japan

Japan’s govt sounds alarm over America’s EV tax credits

TOKYO, Nov 07 (freemalaysiatoday.com) - Japan’s government warned on Saturday that new electric vehicle tax credits in the United States could ultimately deter further investment by the Japanese there and hit employment in the world’s biggest economy.

In a comment submitted to the US treasury department, the government raised a number of concerns about the tax credits in the Inflation Reduction Act (IRA), which is designed to build more resilient supply chains as the US aims to reduce exposure to China.

The statement is a culmination of months-long concerns shared by the Japanese government and the country’s auto lobbying group that the IRA puts Japanese carmakers at a disadvantage in their crucial North American market.

The requirements to be eligible for the tax credit are “not consistent” with the shared policy between the Japanese and the US governments to build resilient supply chains by working with allies and partners, the government said. ...continue reading

News On Japan
POPULAR NEWS

In recent years, approximately 450 schools close annually in Japan, with around 20% left unused. These unused schools face potential demolition as maintenance becomes unsustainable, prompting a response from the Ministry of Education, which has launched matching sites and events to promote new uses.

The next-generation flagship rocket, the H3, was launched from Tanegashima on October 4th, successfully deploying a satellite into orbit as planned. This marks the third consecutive successful launch.

In Toyama Bay, known as a 'natural fish preserve,' a small shrimp called the 'yokoebi' has seen an explosive surge since the Noto Peninsula earthquake, causing significant damage to brand fish species.

The Tokyo Metropolitan Government has revealed plans to project advertisements on the walls of its building through projection mapping, following criticism over the initiative’s high costs.

Yumeshima Station, the 'nearest station' to the Osaka-Kansai Expo, is set to open next spring, with a public reveal this week for the first time ahead of its scheduled January opening.

MEDIA CHANNELS
         

MORE Business NEWS

The Tokyo Stock Exchange (TSE) will extend its trading hours by 30 minutes starting on November 5th. This marks the first extension of trading hours in 70 years, with the last change occurring in 1954.

The Consumer Affairs Agency announced it has ordered a mail-order business based in Tokyo's Shibuya Ward, which sells medicinal toothpaste and similar products, to halt certain business operations for three months due to exaggerated advertising.

The '1.03 million yen income cap' raised by Democratic Party for the People leader Tamaki has become a pressing issue for many students and part-time workers. How are they managing the realities of this policy?

Post offices around Japan have begun selling New Year's greeting cards that are priced higher this year due to a postal rate hike in October. (NHK)

The Japan Association of Corporate Executives has expressed support for Prime Minister Ishiba's goal of raising the minimum wage to ¥1,500 by the 2020s, calling for it to be achieved within three years.

Japan's Fair Trade Commission has ordered four major insurance companies — Mitsui Sumitomo Insurance, Sompo Japan, Aioi Nissay Dowa Insurance, and Tokio Marine & Nichido Fire Insurance — to pay fines totaling over 2 billion yen for collaborating to discuss estimates and bid amounts, leading to premium increases.

Honda Motor Co. has filed a recall with Japan’s Ministry of Land, Infrastructure, Transport, and Tourism for over 650,000 motorcycles due to the risk of rear wheels locking from oil leaks, potentially leading to accidents.

The Bank of Japan decided to keep short-term interest rates unchanged in its two-day policy meeting that ended on Thursday. (NHK)