News On Japan

Middle-aged men on apps lead $67 trillion Japan FX trading boom

TOKYO, Oct 26 (The Edge) - Salarymen scrolling through their phones on the subway are a common sight in Tokyo, but they aren’t all playing Pokémon Go — many are on trading apps, aggressively buying and selling the yen to profit from short-term swings.

Retail currency traders are having a field day as speculation mounts that the Bank of Japan is getting closer to raising its rock-bottom interest rates, with some betting on a move as soon as next week. The cohort of mainly middle-aged men is amplifying volatility in the fast-paced currency markets by seizing on intraday moves in a departure from their previous focus on interest rate differentials.

“I’m really convinced that in the current market, short-term trades have become super-profitable,” said Satoshi Hirai, 43, who trades alongside running a video studio in Gifu Prefecture in central Japan. Hirai’s been buying and selling the yen about 100 times a day recently, and used the money he’s made to buy a Leica camera and guitars to play in his punk rock band.

The increased involvement of mom-and-pop traders reflects the new monetary policy paradigm that Japan is facing. The country is the last hold-out for negative rates globally, despite inflation that’s remained elevated, spurring investors to pile on bets that the BOJ may adjust policy sooner rather than later. ...continue reading

News On Japan
POPULAR NEWS

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.

From April 1st, a new regulation took effect across Osaka Prefecture requiring all restaurants with a customer seating area larger than 30 square meters to become entirely smoke-free indoors—unless they install a designated smoking room. Establishments violating the rule face fines of up to 50,000 yen, while customers may be fined up to 30,000 yen.

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.

The Japanese government has released an updated damage forecast for a potential Nankai Trough megaquake, estimating that up to 298,000 people could die in the worst-case scenario. This projection reflects a slight reduction from the previous estimate of 332,000 deaths made 13 years ago.

MEDIA CHANNELS
         

MORE Business NEWS

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.

Fuji Television announced a sweeping overhaul of its management structure on March 27th, including the retirement of longtime executive Hisashi Hieda, who served on the board for 41 years.