News On Japan

Japan and Saudi Arabia Sign Entertainment Partnership Deal

OSAKA - Japan and Saudi Arabia announced a new memorandum of understanding for economic cooperation on September 24th at the Osaka-Kansai Expo, with a strong emphasis on expanding entertainment and content industries.

SBI, a leading internet-based financial institution, will work with a Middle Eastern partner to help develop Saudi Arabia’s gaming sector. In addition, game developer PlatinumGames plans to establish a new gaming company in collaboration with a local firm.

Out of the 19 MOUs signed, roughly one-third focus on entertainment and content. For Japan, which aims to transform its content sector into a major export industry, the agreement is expected to create significant new business opportunities.

PlatinumGames is a Japanese video game developer known for its distinctive action titles and creative independence. The company was founded in 2006 through the merger of two smaller studios, and is headquartered in Osaka. Its reputation is built on producing stylish, fast-paced action games with unique mechanics and strong artistic direction.

Some of PlatinumGames’ most notable works include Bayonetta, NieR: Automata (developed in collaboration with Square Enix), Astral Chain, and Metal Gear Rising: Revengeance. These titles earned critical acclaim for their innovative combat systems, fluid gameplay, and distinctive visual style, helping to cement the studio’s global recognition.

Source: テレ東BIZ

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Typhoon No. 15 (Chan-hom) is increasingly likely to make landfall between Fukushima and Ibaraki prefectures on the Pacific coast of eastern Japan from the evening through the night of August 11, after moving northwest over waters east of Japan at about 15 kilometers per hour as of 9 a.m. on August 10.

Raccoons are increasingly invading homes across Japan, damaging roofs and wiring, contaminating buildings with large amounts of urine and feces, and raising concerns over agriculture, native wildlife and the spread of disease as their population continues to expand.

Nagasaki marked the 81st anniversary of the U.S. atomic bombing on August 9 with a memorial ceremony near the hypocenter, where Mayor Shiro Suzuki declared nuclear weapons an "absolute evil" and called on the Japanese government to uphold its Three Non-Nuclear Principles.

Transport services were gradually returning to normal on August 9 after Typhoon No. 13 caused widespread cancellations and shutdowns across Okinawa, although air travel remained disrupted as airlines worked to restore schedules and accommodate passengers stranded during the opening days of Japan's busy Obon holiday period.

Typhoon No. 13 was moving slowly west on the night of August 8 and was expected to approach the Chinese mainland by the night of August 9, but Okinawa, Amami and parts of southern Kyushu remained at risk from strong winds, intermittent heavy rain and dangerous seas even as the storm's center moved farther away.

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A repeat of the sharp yen appreciation seen in the summer of 2024 is unlikely under current conditions, with persistently high U.S. interest rates and continued structural pressure on Japan's currency making another rapid surge difficult, according to UBS wealth management chief investment officer Daiju Aoki.

Japanese companies delivered a wave of strong earnings on August 7, with Fujikura, Recruit Holdings, INPEX and several other major groups raising forecasts as artificial intelligence investment, higher resource prices and resilient consumer demand lifted profits.

Tokyo stocks ended slightly lower on August 7, with the Nikkei 225 closing at 65,606.71, down 76.55 points, or 0.12%, as selling in chip-related and artificial intelligence-linked shares outweighed solid buying in the broader market and a late recovery led by Fujikura.

Nippon Steel has completed a new production line at its Nagoya Works after investing about 300 billion yen, as Japan's largest steelmaker seeks to expand production of high-performance steel products primarily for automakers.

Hokkaido's minimum wage is expected to rise by 56 yen to a record 1,131 yen per hour in October, entering the 1,100-yen range for the first time, but workers and business owners are concerned that tax and social insurance thresholds could lead employees to limit their hours.

The average summer bonus paid by major Japanese companies rose above 1 million yen for the first time, reaching a record 1,042,537 yen as strong corporate earnings and substantial wage increases lifted employee compensation.

Japan's government and the Bank of Japan conducted a record 6.2787 trillion yen yen-buying, dollar-selling intervention on April 30, the Finance Ministry said on August 7.

Tokyo stocks diverged on August 6, with the Nikkei 225 closing at 65,683.26, down 617.18 points, or 0.93%, as selling in artificial intelligence and semiconductor-related heavyweights outweighed broad gains across the wider market.