TOKYO, Nov 02 (News On Japan) - Mitsubishi UFJ Bank has announced that it will increase the interest rate for its 10-year fixed-term deposit, currently at 0.002%, by 100 times to 0.2%.
This is the highest level in 11 years reflecting the recent rise in long-term interest rates.
The new rate will be applied to deposits made from Nov 6.
The Bank of Japan (BOJ) has decided to raise its policy interest rate from an annualized 0.25 percent to 0.5 percent. This marks the first rate hike in six months and appears aimed at correcting the historically weak yen.
Japan is facing an unprecedented rice shortage, with recent data highlighting alarming supply-demand imbalances in the domestic market. The Agricultural Newspaper reported on January 10 that the DI (Demand-Supply Index), a measure of rice market balance, reached a record high of 80. This figure indicates a critical shortfall in rice availability, surpassing even last year's levels when supermarket shelves were emptied.
The resignation of popular television personality Masahiro Nakai has sent shockwaves through the Japanese entertainment industry. Announced through his agency’s website, Nakai apologized, stating, “I’m truly sorry for this sudden farewell.” His decision to retire has sparked debates over whether this marks the conclusion of ongoing controversies surrounding him and the television networks involved.
Three people were attacked near JR Nagano Station at around 8 p.m., leaving a man in his 40s in a state of cardiopulmonary arrest and two others hospitalized.
Naoya Inoue, the unified world super bantamweight champion across four major boxing organizations, will face Kim Ye-jun, the World Boxing Organization's (WBO) 11th-ranked contender, at Ariake Arena in Tokyo on January 24th.
Japan is facing significant challenges in its food supply chain as new laws and rising prices create widespread concern among farmers and consumers. The recently introduced Food Supply Crisis Management Law, set to take effect on April 1, will prohibit farmers from leasing unused farmland, with severe penalties for violations.
A partnership agreement was signed on January 20th to promote cargo transportation using electric aircraft based at Kitakyushu Airport. A test flight to Miyazaki Airport is planned for this summer.
Nissan Motor announced on Wednesday that it will construct a new battery plant for electric vehicles (EVs) in Kitakyushu, signing an agreement with the city and Fukuoka Prefecture.
Toru Hashimoto, a former governor and mayor of Osaka, and a prominent lawyer, recently shared his insights on urban development, political dynamics, and the future of Osaka.
Nissan Motor is implementing a workforce reduction plan involving 9,000 employees, with over 70% of the cuts concentrated in production sites, according to a JNN investigation.
Fallout continues from a scandal involving a woman and popular TV personality Nakai Masahiro, who is best known as a former member of the disbanded pop idol group, SMAP. (NHK)
Corporate bankruptcies in Japan rose for the third straight year in 2024. It is the highest number since 2013. Rising prices and labor shortages were to blame in many cases. (NHK)
The nine-day New Year holiday, often hailed as a "miraculous break," has come to an end, and everyday life is gradually resuming. However, for some, this period marked a turning point—deciding to quit their jobs. One resignation service provider reported a record-high number of client requests.
