Japan Launches First Digital Currency-Based Corporate Settlement Service

TOKYO, Aug 29 (News On Japan) - Japan's first digital currency-based corporate settlement service, protected by technology to prevent counterfeiting and unauthorized access, is set to launch.

Miwa Yamai, Executive Officer at IIJ, commented, "Honestly speaking, it's not so much about increasing transaction volumes but more about the ability to use a new form of settlement."

This service utilizes the digital currency "DCJPY" issued by GMO Aozora Net Bank.

Unlike virtual currencies such as Bitcoin or electronic money issued by private companies, this type of digital currency is backed by deposits in regular currencies like cash and issued by domestic financial institutions.

It employs blockchain technology to link data on who owns it and what it was used for.

Initially, leading telecommunications company Internet Initiative Japan (IIJ) will adopt this digital currency for settlement transactions with its corporate partners.

Source: ANN

Chiba to Double Tokyo Bay Aqua-Line Weekend Tolls During Peak Hours

Chiba Prefecture has announced a plan to revise the toll system on the Tokyo Bay Aqua-Line, currently being tested, by doubling toll fees during peak congestion hours from April next year.

Russian Diplomats in Japan Continue to Evade Parking Fines

The issue of diplomatic vehicles avoiding parking fines in Japan due to diplomatic immunity continues, with Russia reaching a record-high number of violations, accounting for 63% of the total.

Naomi Watanabe, Yumiko Suzuki Named Among BBC's 100 Women of 2024

The BBC has announced its 2024 edition of '100 Women,' celebrating individuals who have made a significant impact on society, selecting Japanese talent Naomi Watanabe (37) as one of the honorees.

Osaka Police Clash With Protesters During Forced Eviction

Authorities in Osaka's Nishinari Ward carried out a contentious forced eviction at the Airin General Center, a facility once central to the city’s day-laborer community, sparking protests from residents and supporters who condemned the move as a violation of human rights and dignity, while officials cited safety concerns and legal rulings as justification for the operation.

JR Group to End Sales of Round-Trip Tickets

The JR Group announced on December 2nd that it will end the sale of "round-trip tickets" by around March 2026. Additionally, "consecutive trip tickets" will also be discontinued during the same period.

MEDIA CHANNELS

MORE Business NEWS

SBI Shinsei Bank Raises Interest Rate to 0.3% for Depositors Aged 28 and Under

Starting in December, SBI Shinsei Bank has raised the interest rate for ordinary savings accounts to 0.3%—about three times the standard rate—for all depositors aged 28 and under.

Japanese Stocks Enter 'Year-End Rally' Phase

Japanese stocks have entered the so-called "year-end rally" phase, a period known for upward trends in stock prices. Last week, the Nikkei Stock Average showed resilient performance despite the yen appreciating gradually against the dollar, temporarily dipping below 38,000 yen but ending with stable movements.

Inbound Tourism Drives Revenue Growth for Japan Airlines, But Costs Weigh on Profits

Japan’s airline industry is experiencing a significant boost from record inbound tourism, but rising costs and geopolitical challenges are tempering the financial gains.

Kirin to Raise Prices on Beer and Chuhai in April

Kirin Brewery has announced that it will increase prices on over 200 products, including beer and chuhai, starting in April next year. All three major beer companies will implement price hikes at the same time.

Amazon Japan Under Scrutiny for Pressuring Sellers on Pricing

The Japan Fair Trade Commission (JFTC) has launched an on-site investigation into Amazon Japan, alleging that the company forced sellers to lower prices. The investigation will also examine potential involvement by Amazon's U.S. headquarters.

PwC and Takara to Launch English Reporting Services

PwC, a leading audit firm, and Takara Printing have announced a collaboration to provide English disclosure support services, including the translation of securities reports. This initiative comes as the Tokyo Stock Exchange plans to mandate companies listed on the Prime Market to disclose financial information in English starting April 2025, aiming to attract overseas investors.

Maximize Efficiency and Productivity with TimeCamp: Automatic Time Tracking and Employee Monitoring

In today’s competitive business environment, time is the one resource you can’t afford to waste.

Mercari Strengthens Customer Support to Address Return Fraud Issues

Mercari, a leading online marketplace, has announced new measures and compensation policies in response to increasing issues among users, such as the fraudulent replacement of returned items.

< 2 3 4 5 >