Japan’s Top Banks Break Profit Records as Interest Rates Rise

TOKYO, May 16 (News On Japan) - Japan’s three largest banking groups have all reported record net profits for the past fiscal year, with their combined earnings nearing 4 trillion yen.

Mitsubishi UFJ Financial Group, Japan’s largest bank by assets, recorded a net profit of 1.8629 trillion yen for the 12 months through March, according to its earnings report released this week. "We are seeing strong growth both in quality and quantity," said President Hironori Kamezawa, emphasizing the group’s continued momentum.

Sumitomo Mitsui Financial Group also surpassed the 1 trillion yen mark in net profit for the first time, reporting 1.1779 trillion yen. Mizuho Financial Group posted a profit of 885.4 billion yen, a 30.4% increase from the previous year.

The strong earnings were driven by a favorable environment, including higher interest rates following the Bank of Japan’s policy shift and gains from the sale of strategic shareholdings. Together, the three megabanks posted a combined profit of 3.9263 trillion yen, each achieving its highest level on record.

Source: TBS

Takaiichi and Trump Emphasize Importance of Japan-U.S. Alliance

Prime Minister Takaiichi’s first face-to-face meeting with U.S. President Trump drew high praise from officials at the Prime Minister’s Office, who described the atmosphere as friendly and open. According to government sources, the two leaders addressed each other by their first names, “Sanae” and “Donald,” a gesture that one senior official called “120 points,” underscoring the success of the meeting.

Trump Meets Japan's Emperor for First Time in Six Years

Emperor Naruhito met with former U.S. President Donald Trump for the first time in six years at the Imperial Palace on October 27th. The two exchanged greetings in English, with the Emperor saying, "I’m pleased to see you again," as he welcomed Trump to the Imperial residence around 6:30 p.m.

Woman Found Dead Near Rice Field in Akita, Bear Attack Suspected

An elderly woman was found dead in a roadside ditch in Akita City on October 27th, with police investigating the possibility that she was attacked by a bear. A local resident discovered the woman lying face down in a drainage channel around 11 a.m. and called emergency services.

Nikkei Closes Above 50,000 for the First Time Ever

The Nikkei Stock Average closed at 50,512 yen on October 27th, surpassing the 50,000 mark for the first time in history and setting a new all-time high. The benchmark index rose 1,212 yen from the previous trading day, driven by strong gains across sectors.

McDonald's Japan to End Paper Straws

McDonald's Japan announced it will phase out the use of paper straws and introduce new lids that allow customers to drink directly from the cup without a straw starting on November 19th.

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Nikkei Closes Above 50,000 for the First Time Ever

McDonald's Japan to End Paper Straws

McDonald's Japan announced it will phase out the use of paper straws and introduce new lids that allow customers to drink directly from the cup without a straw starting on November 19th.

'50-Year' Home Loans Surge as Construction Costs Rise

More homebuyers in Japan are turning to ultra-long housing loans, with some mortgages now stretching as long as 50 years as buyers try to keep monthly payments down in the face of sharply higher construction costs.

Kumamoto Expands Chip Production as TSMC Plans Second New Plant

A subsidiary of Taiwan Semiconductor Manufacturing Co. (TSMC), a leading chipmaker, signed a location agreement with Kikuyo Town in Kumamoto Prefecture on October 24th for the construction of its second factory in Japan.

Toyota Unveils Vision for Future Mobility

As anticipation builds for the Japan Mobility Show 2025, set to open at Tokyo Big Sight from October 30th to November 9th, Toyota Chairman Akio Toyoda has announced a sweeping reorganization of the automaker’s brand strategy. The company will redefine its group structure, including Daihatsu, into five distinct brands, with its flagship luxury car, the Century, becoming a fully independent marque.

Japan’s Auto Industry Faces Fallout from China-Netherlands Chip Clash

The Japan Automobile Manufacturers Association (JAMA) issued a statement on October 23rd warning that tensions between China and the Netherlands over semiconductor firms are having a serious impact on global automobile production.

Japan's Consumer Prices Rise 2.9% in September

Japan's nationwide consumer price index excluding volatile fresh food rose 2.9% in September from a year earlier, the Internal Affairs and Communications Ministry announced on October 23rd. The pace of increase slightly expanded from August’s 2.7%, maintaining close to a 3% growth rate amid continued price hikes in food and other daily necessities.

Uniqlo Opens Store for Kids

Uniqlo will open a new type of store on October 24th designed specifically for children, offering an interactive shopping experience that encourages them to choose their own clothes.

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