News On Japan

Japan to launch pilot programme for issuing digital yen

TOKYO, Feb 18 (nasdaq.com) - Japan will start a pilot programme in April to test the use of a digital yen, its central bank said on Friday, joining a growing number of countries seeking to catch up with front-runner China in launching a central bank digital currency (CBDC).

The widely expected move follows two years of experiments that the Bank of Japan (BOJ) has been conducting to decide whether to issue a CBDC, and moves Japan closer to issuing a digital yen in several more years.

It also comes ahead of the BOJ's leadership transition to academic Kazuo Ueda, who is expected to succeed incumbent Haruhiko Kuroda. Kuroda's second five-year term ends in April.

Under the pilot programme, the BOJ will conduct simulated transactions with private entities in a test environment, Uchida said. The programme will help the BOJ be ready in case the government decides to issue a digital yen, the bank said. ...continue reading

Source: ANNnewsCH

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Police in Osaka arrested a 48-year-old man on October 22nd after a tense 14-hour standoff in which he allegedly held a woman at knifepoint inside an apartment. A special tactical unit forced entry into the residence late at night, ending the standoff without injuries.

The Emperor, Empress, and their daughter Princess Aiko visited the Tokyo Metropolitan Memorial Hall in Sumida Ward on Thursday afternoon, marking their first visit to the site as Japan observes the 80th year since the end of World War II. They were greeted upon arrival by Tokyo Governor Yuriko Koike and other officials.

The Kofu Local Meteorological Observatory announced on October 23rd that the season’s first snow had been observed on Mount Fuji, which stands 3,776 meters tall. Around 6 a.m., an official visually confirmed that snow had clearly accumulated near the summit.

After nearly a decade of construction, the newly rebuilt Haneda Line of the Metropolitan Expressway, one of Tokyo’s key arteries linking the city center with Haneda Airport, has been unveiled to the media ahead of its official switch to a new road on October 29th.

The newly launched Takaichi Cabinet moved into full operation on October 22nd, with early personnel decisions revealing a clear conservative tone. Satsuki Katayama was appointed as finance minister and Kimi Onoda as minister in charge of foreign resident policy, underscoring what observers are calling the emergence of a distinct “Takaichi color.”

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The Japan Automobile Manufacturers Association (JAMA) issued a statement on October 23rd warning that tensions between China and the Netherlands over semiconductor firms are having a serious impact on global automobile production.

Japan's nationwide consumer price index excluding volatile fresh food rose 2.9% in September from a year earlier, the Internal Affairs and Communications Ministry announced on October 23rd. The pace of increase slightly expanded from August’s 2.7%, maintaining close to a 3% growth rate amid continued price hikes in food and other daily necessities.

Uniqlo will open a new type of store on October 24th designed specifically for children, offering an interactive shopping experience that encourages them to choose their own clothes.

Once considered the “model of price stability” at the Japanese table, eggs are now facing another crisis. The price of eggs, a staple ingredient used daily across the country, has surged once again, prompting concern among both businesses and consumers.

After nearly a decade of construction, the newly rebuilt Haneda Line of the Metropolitan Expressway, one of Tokyo’s key arteries linking the city center with Haneda Airport, has been unveiled to the media ahead of its official switch to a new road on October 29th.

Automakers are stoking a fierce price war in Japan's EV market, with Chinese manufacturer BYD leading the charge by introducing fully electric vehicles priced around 2 million yen at Aeon stores. U.S. rival Tesla is also pushing price cuts for its core models, while Japanese giants Toyota and Nissan are responding by lowering prices on improved models with extended driving range.

A prolonged system failure caused by a cyberattack at Asahi Group Holdings is now rippling into Japan’s year-end gift season, forcing major brewers to scale back their offerings.

Amazon’s cloud computing platform Amazon Web Services (AWS) suffered a major system failure on October 20th, disrupting services across the globe, including online games and web conferencing tools.