BOJ Rate Hike Spurs Yen Surge

TOKYO, Aug 01 (News On Japan) - The Japanese yen surged to 149 per dollar on Wednesday following the Bank of Japan's (BOJ) policy to raise interest rates to 0.25%.

MUFG Bank announced it would raise variable housing loan interest rates starting in September, with other major banks likely to follow. This has sparked concerns among potential homebuyers about whether to choose fixed or variable rate mortgages. Experts suggest that many will still opt for variable rates despite potential hikes, and they recommend monitoring the mortgage rate market closely due to ongoing refinancing campaigns by various banks.

Rare Mutation in Lung Cancer Patient Helps Prolong Life

Diagnosed with lung cancer in his forties and given a prognosis of just six months to live, a man has defied the odds and is still working full-time, eight years after the initial diagnosis. This was made possible by the latest treatment method known as "cancer genome medicine."

Red-Tinted River Baffles Sendai Locals

The Hirose River in Sendai City has turned a mysterious red, sparking local concern. Residents are puzzled, with some noting they've never seen anything like it before.

Fake Japanese Products Gain Popularity in Russia

Since the invasion of Ukraine and the consequent wave of foreign business withdrawals from Russia, products mimicking Japanese imports have been appearing in greater numbers across the country.

Nuclear reactor in northeastern Japan restarted 13 years after 2011 disaster

The operator of a nuclear power plant in Miyagi Prefecture, northeastern Japan, restarted one of its reactors on Tuesday, more than 13 years after it suffered damage in the 2011 earthquake and tsunami disaster. (NHK)

Election Staff in Mini-Skirt Raises Questions

A woman in a neon-colored jacket and mini-skirt was seen supporting a candidate in Japan's latest Lower House election, sparking public debate on extremely short skirts, shorts, and other revealing outfits worn by female campaign staff.

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Meta faces lawsuits in Japan over fake Facebook, Instagram ads

US tech giant Meta Platforms, which operates Facebook and Instagram, is facing lawsuits in Japan filed by people who claim to have been defrauded through fake advertisements. (NHK)

Japan Mint Conducts Annual Test to Confirm Currency Standards

To ensure trust in currency, the Mint Bureau in Kita Ward, Osaka, held its annual 'Grand Test for Manufactured Currency' on October 28th, where officials checked whether coins meet the designated weight standards, a tradition that has been ongoing since 1872, marking its 153rd occurrence this year.

Olympus CEO resigns amid allegations of illegal drug purchases

Japanese medical equipment maker Olympus has announced the resignation of its chief executive officer Stefan Kaufmann. (NHK)

Japan's 'Gap Job' Registrations Surpass 25 Million

Registrations for 'gap jobs,' which allow individuals to work as much as they want at their preferred times, have surged in Japan, now totaling over 25 million. This growth reflects not only a labor shortage but also a shift in workers' attitudes.

New Year Lucky Bags 2025: Tobu Bets on Luxury Food

The race for Japanese New Year's 'lucky bags' has begun. Tobu Department Store and Matsuya unveiled their offerings for 2025 on October 24th. In response to ongoing inflation, Tobu will provide a variety of luxurious food items, such as a 'meat boat platter' featuring different cuts of Yamagata beef, and a 'sashimi boat platter' with bluefin tuna and sea bream.

Funai Electric Files for Bankruptcy

Funai Electric, a company once referred to as 'The World's FUNAI', filed for bankruptcy proceedings at the Tokyo District Court on October 24th.

Tokyo Metro Debuts on Stock Exchange with 1 Trillion Yen Valuation

Tokyo Metro made a landmark debut on the Tokyo Stock Exchange on October 23rd, with half of its shares, previously held by the national and Tokyo governments, released to the public, creating the largest IPO since SoftBank in 2018.

Uniqlo Opens Global Flagship Store in Shinjuku

Uniqlo is set to reopen its global flagship store in Shinjuku, Tokyo, two years after withdrawing from the same location. The new store, called 'Uniqlo Shinjuku Main Store,' will span three floors and offer exclusive items that were previously unavailable in Japan.

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