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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Japan’s World Cup campaign ended in the cruelest possible fashion on June 29, as Gabriel Martinelli scored in the fifth minute of stoppage time to give Brazil a 2-1 victory over the Samurai Blue in their knockout match in Houston. Japan had led in the first half and were still level at 1-1 in the final moments, but Martinelli’s late strike sent Brazil into the Round of 16 and eliminated Japan from the tournament.

Strong earthquakes have continued to shake parts of Japan in recent weeks, with 11 temblors measuring lower 5 or above on the Japanese seismic intensity scale recorded across the country since April 2026.

A Kintetsu Railway train derailed inside Kyoto Station on the morning of June 29, forcing partial suspensions on the Kintetsu Kyoto Line for the rest of the day and causing long delays that hit commuters, students and tourists.

A section of stone wall at Hikone Castle, one of Japan’s few surviving original Edo-period castles and a National Treasure whose main keep remains intact more than 400 years after its construction, collapsed after heavy rain caused by Typhoons No. 7 and No. 8, Hikone city officials said.

Japan advanced to the knockout stage of the World Cup after a 1-1 draw with Sweden on June 25, finishing second in Group F and setting up a Round of 32 clash with Brazil in Houston.

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Tokyo stocks edged higher on June 29 as investors bought back selected shares after a sharp AI-led selloff, but gains were capped by caution over high technology valuations, Middle East tensions and a weakening yen that fell to its lowest level against the dollar since 1986.

Tokyo stocks fell sharply on June 26 as investors locked in profits from Japan’s record-setting AI-driven rally, with SoftBank Group and chip-related shares leading a broad retreat after reports that OpenAI may delay its initial public offering.

Japanese households held 2,386 trillion yen in financial assets at the end of March, up 7.1% from a year earlier, as rising share prices, wider use of the new NISA investment program and the weaker yen lifted the value of assets held by individuals.

The sale of religious corporations that operate temples and shrines across Japan is drawing growing scrutiny from authorities, who fear the transactions could be used for tax evasion and money laundering, as brokers openly advertise properties and corporate status for tens or even hundreds of millions of yen.

The Nikkei Stock Average fell for a second straight session in Tokyo as investors locked in profits from a rapid rally in artificial intelligence and semiconductor-related shares, briefly sending the benchmark down more than 1,300 yen before bargain hunting helped it recover part of the loss.

Imabari Shipbuilding, Kawasaki Heavy Industries, and Namura Shipbuilding are aiming to resume construction of liquefied natural gas carriers around 2035, as Japan’s shipbuilding industry looks for a path to recovery after losing much of the global market to lower-cost rivals in South Korea and China.

Finance Minister Katayama held online talks with U.S. Treasury Secretary Scott Bessent as the yen approached its weakest level in about 39 years, with the two sides believed to have discussed possible responses, including foreign exchange intervention.

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