News On Japan

Japan to Extend Gasoline Subsidy

TOKYO, Mar 28 (News On Japan) - In response to the continued surge in energy prices due to the weakening yen and the rise in consumer prices, the Japanese government has decided to extend the subsidy for gasoline and other fuels beyond its April deadline.

According to government officials, the subsidy aimed at curbing the prices of fuel oil such as gasoline and kerosene will be extended past its current April deadline and will continue into May and beyond. The extension is expected to last for several months, with considerations also being made to maintain the subsidy rate without reductions.

The decision comes in light of inflation, the depreciating yen, and the rise in crude oil prices due to instability in the Middle East.

Prime Minister Kishida is expected to announce this in a press conference on Thursday evening.

The subsidy to oil wholesalers, which started in 2022, has been continually extended despite questions about its effectiveness.

Source: ANN

News On Japan
POPULAR NEWS

Nara's Asuka and Fujiwara Palaces have been officially recommended as a candidate for UNESCO's World Cultural Heritage list, with the goal of achieving registration at the World Heritage Committee meeting scheduled for the year after next.

University of Tokyo President Teruo Fujii revealed that the university is finalizing plans to raise undergraduate tuition fees by 20%, starting with students entering next academic year.

The ongoing debate over the legalization of separate surnames for married couples in Japan is a topic that has polarized both politicians and the public for over three decades.

Two Liberian men have been arrested on suspicion of stealing 34 million yen through a trick using copper particles plated with gold.

The Yokohama District Court on Monday sentenced a former manager of Bigmotor's Kawasaki branch to a fine of 200,000 yen for damaging public property by cutting azaleas in front of the store.

MEDIA CHANNELS
         

MORE Business NEWS

The announcement of the iPhone 16 has sent sellers flocking to the second-hand iPhone market in Japan, with iPhones 12 and 13 going for less than half the price of a new model.

Japanese firm Smile-Up., formerly known as Johnny & Associates, says representative director Fujishima Julie has stepped down from executive posts of its affiliated firms. (NHK)

Bookstores across Japan continue to close, and publishers are facing equally harsh business conditions. According to private research firm Teikoku Databank, 36.2% of publishers posted losses last fiscal year, the highest percentage in the past 20 years.

The Yokohama District Court on Monday sentenced a former manager of Bigmotor's Kawasaki branch to a fine of 200,000 yen for damaging public property by cutting azaleas in front of the store.

A major Canadian convenience store operator says it is disappointed that Japanese retail giant Seven & i Holdings has rejected its takeover offer, but it remains willing to negotiate. (NHK)

Sharp announced last Friday that it will enter the development and sales of electric vehicles (EVs) using an EV platform developed by its parent company, Taiwan's Hon Hai Precision Industry, with the aim of launching sales in a few years.

The number of share buybacks this year in Japan is on the rise, and it's possible that we'll see a record number by the time winter rolls around.

Toyota Motor Corporation has resumed production of three car models, including the Yaris Cross, after a three-month suspension due to certification irregularities, the company announced on September 4.