Nineteen Firms Apply for 90,000 Tons of Reserve Rice Under Direct Contracts

TOKYO, May 27 (News On Japan) - Japan’s Minister of Agriculture, Forestry and Fisheries Koizumi announced that 19 companies have applied to purchase a total of 90,824 tons of government reserve rice under a discretionary contract framework. He added that distribution could begin as early as May 29th, with sales expected to start in stores during the first week of June.

Speaking at a press conference, Koizumi said, "The transfer of reserve rice may begin on the 29th. We are seeing a clear path for it to appear on store shelves in the first week of June."

As of 9 a.m. this morning, 19 companies had submitted applications for the rice, and some contracts may be finalized as soon as today. Among the applicants are Rakuten Group, the operator of Don Quijote, and supermarket chain OK.

In a notable development, FamilyMart has become the first major convenience store chain to decide to participate. The retailer plans to sell the rice in small one-kilogram packages priced at 400 yen. Processing and packaging will be handled by a group company under its parent firm, Itochu Corporation, with the goal of launching sales in early June.

Source: TBS

Montenegrin Prime Minister Delivers Opening Remarks in Japanese in Landmark Summit

Prime Minister Ishiba met with Montenegrin Prime Minister Spajic in Tokyo on May 28th during the latter’s official visit to Japan, marking what both leaders described as a historic occasion.

Japan Enacts First Law to Promote AI

Japan’s first law dedicated specifically to artificial intelligence has been passed by the Upper House of the Diet, with the so-called AI Promotion Law formally enacted in May.

Scallop Prices Surge as Supply Plunges to One-Tenth of Usual Levels

Scallop prices are soaring across Japan as poor harvests send shockwaves through production areas and seafood retailers, with wholesalers and restaurants warning of a prolonged crisis brought on by a string of environmental disasters.

Koizumi Announces Suspension of Discretionary Contracts for Rice Reserves

The Ministry of Agriculture, Forestry and Fisheries has temporarily halted new applications for discretionary contracts to purchase rice from government reserves, Agriculture Minister Koizumi announced on May 27th. The decision comes after applications for 2022-harvest rice reached the quota limit of 200,000 tons.

Sacred Tree Linked to Ryoma Sakamoto Collapses at Kyoto Shrine

An 850-year-old sacred tree with ties to Ryoma Sakamoto has collapsed at Takenobu Inari Shrine in Nakagyo Ward, Kyoto, damaging parts of the shrine's main and auxiliary buildings. No injuries were reported.

MEDIA CHANNELS

MORE Business NEWS

Nissan Faces Backlash Over Executive Payouts

Nissan Motor has revealed that it paid a total of 646 million yen in resignation-related compensation to four former executive officers, including former President Uchida.

Is Japan Manipulating the Yen?

Former U.S. President Donald Trump is once again accusing Japan of deliberately weakening the yen to boost its exports, claiming the government is guiding the currency downward in a move reminiscent of the 1985 Plaza Accord.

Japan's Net Foreign Assets Reach Record High but Lose Top Spot to Germany

Japan’s net foreign assets hit a record high at the end of last year, but the country has fallen from the top global position for the first time in 34 years, according to data released by the Ministry of Finance.

SoftBank's Son Proposes Japan-US Joint Government Fund

SoftBank Group Chairman and CEO Masayoshi Son is pursuing the idea of launching a Japan-US joint sovereign wealth fund aimed at investing heavily in American technology and infrastructure.

A Shift Toward Minimalist Work Culture in Japan

As major corporations like Panasonic move to reduce headcounts, a quiet revolution is underway among Japan’s younger workers: the rise of quiet quitting.

SoftBank Group Charts Path to Trillion-Yen Investments

SoftBank Group, which oversees major operations including telecom company SoftBank and the Vision Fund investment vehicle, has set out an ambitious plan involving over 1 trillion yen in investments since January.

Nakano Sunplaza Redevelopment Canceled, Raising Fears of Urban Decay

The redevelopment plan for the former Nakano Sunplaza site has been formally scrapped, raising concerns among local residents about the area potentially becoming a neglected eyesore.

Trump Approves U.S. Steel-Nippon Deal

In a dramatic reversal from past resistance to foreign ownership of U.S. Steel, President Donald Trump has now announced his approval of what he is calling a partnership between U.S. Steel and Japan’s Nippon Steel.

< 2 3 4 5 >