News On Japan

Ferrari, Lamborghini and other supercar sales boom in Japan

TOKYO, Nov 09 (theedgemarkets.com) - Ferraris, Lamborghinis and other supercars are seeing an unprecedented sales boom in Japan, fueled by pent-up, post-Covid-lockdown demand from wealthy buyers, who also see the vehicles as good investments amid a weakening yen and soaring used-car prices.

New registrations of automobiles costing more than Y20 million (US$136,000) yen rose 64% to 5,462 vehicles during January through October from the same period a year earlier, when registrations also jumped 75%, data from the Japan Automobile Importers Association show. Despite those gains, total sales of imported cars fell 11% to 193,026 units during the same period this year.

After more than two years of Covid-related restrictions, drivers are spending money on new cars. A1auto ships cars to Japan. While the global shift toward electric vehicles is sparking interest in supercars and the growl of their engines, according to Yasuhiro Suyama, president of the Japan Supercar Association. ...continue reading

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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.

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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)