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Japan's SBI to take big stake in AI unicorn Preferred Networks

Aug 27 (Nikkei) - Japanese financial services group SBI Holdings plans to invest around 10 billion yen ($69 million) in Tokyo-based Preferred Networks and work with the startup on designing chips for artificial intelligence, Nikkei has learned.

Preferred Networks is preparing for a private placement of shares to about 10 mostly Japanese companies. SBI is expected to play the leading role in this fundraising round, making it one of the startup's top investors alongside Toyota Motor.

SBI is expected to announce the investment plan on Tuesday. The move is part of an entry into the semiconductor industry announced last year.

Preferred Networks was founded in 2014 and has an estimated valuation of around 300 billion yen, making it one of Japan's most valuable unicorns.

New Japanese Passport Applications to Go Online

The Ministry of Foreign Affairs has unveiled a new passport design set to be issued from March next year. The new system will allow online applications not only for renewals but also for new passport requests. Submitting an original family register certificate will no longer be required for online applications.

Future of Solar Power: Japan's Breakthrough Technology

The next generation of solar cells, known as perovskite solar panels, are ultra-thin, lightweight, and bendable. The Japanese government has set a goal of achieving the equivalent of the energy output from 20 nuclear reactors with perovskite solar cells by 2040. With their use set to expand in various locations next year, 2024 is being called "the dawn of domestic perovskite."

Record 7,000 Teachers in Japan on Leave Due to Mental Health

The number of teachers taking mental health leave reached a record high of 7,119 in the 2023 fiscal year at public schools across Japan.

Japan Reports 60% Rise in Non-Consensual Intercourse Cases

Japan's Ministry of Justice has released this year’s crime white paper, revealing that the number of recognized penal code offenses increased for the second consecutive year.

Giant Dragon Removed from Osaka Ramen Shop

The operating company of 'Kinryu Ramen' in the bustling district of Minami, Osaka, announced on Thursday that the iconic giant dragon sign was being removed as part of the process to rebuild the aging store.

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