News On Japan

Japan and Indonesia Sign Agreement to Simplify Customs Procedures

TOKYO - Japan and Indonesia have signed an agreement aimed at facilitating trade by simplifying customs procedures. Under the deal, both countries will apply the Authorized Economic Operator (AEO) system to companies that are officially recognized as trustworthy by customs authorities.

Japan has now concluded similar agreements with 15 countries. The arrangement is expected to streamline customs clearance and invigorate logistics and business exchanges between the two nations.

The Japanese government signed the agreement with Indonesia on October 8th, granting AEO certification to companies that have demonstrated reliable security and compliance systems. The certification allows such companies to undergo faster and more efficient import and export procedures.

Japan has already implemented this system with 14 other countries. The Ministry of Finance, which oversees customs, said the agreement will enable cargo inspections during import and export to proceed more quickly.

Indonesia and Japan are among each other’s key trading partners, and the government expects that the new framework will further strengthen bilateral economic ties while supporting smoother logistics and business operations between the two countries.

Source: Television OSAKA NEWS

News On Japan
POPULAR NEWS

A very strong Typhoon No. 29 is moving north over waters southeast of Japan, with dangerous waves and powerful swells expected along the Pacific coast during the three-day holiday weekend through October 12, even as Typhoon No. 28 weakens and is forecast to become an extratropical low-pressure system. The two typhoons were situated southeast of Honshu as of 3 p.m. on October 10, with satellite imagery showing a marked difference in their development.

A series of cyberattacks has disrupted business operations and exposed millions of customer records across Japan, with a ransomware attack on a cloud service provider affecting 495 companies and local governments nationwide, while convenience store operator Lawson has disclosed a separate breach involving more than 2.15 million personal information records.

Japan's first 360-degree projection mapping show will open at the Osaka City Museum of Fine Arts on October 10, transforming the historic building into an immersive world of light, music, and seasonal imagery, with organizers hoping the attraction will also help stimulate the city's nighttime economy.

Tokyo University of Science professor emeritus Kenzo Soai has been awarded this year's Nobel Prize in Chemistry together with French chemist Henri B. Kagan for discoveries that transformed scientists' understanding of how chemical reactions can favor one of two mirror-image forms of a molecule.

The US military suspended activities by all forces stationed in Okinawa for 48 hours from noon on October 7, an unusual measure following the arrest of a US Marine in connection with a robbery and murder case that has renewed scrutiny of crimes involving American service members.

MEDIA CHANNELS
         

MORE Business NEWS

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.

Japan recorded a current account surplus of 4.062 trillion yen in August, an increase of 12% from a year earlier, driven primarily by a sharp rise in income from overseas investments, even as higher crude oil prices pushed the country's trade balance into deficit.

Household spending in Japan fell 3.1% in August from a year earlier, marking the ninth consecutive month of decline as rising food prices continued to weigh on consumer budgets, according to the latest household expenditure survey released by the Ministry of Internal Affairs and Communications on October 9.

Tokyo stocks ended nearly unchanged on August 12, with the Nikkei 225 at 66,988.82, as gains in energy and financial shares offset weakness in electronics and pharmaceuticals while investors weighed higher crude oil prices, a weaker yen and growing expectations for another Bank of Japan rate increase.

Japan is entering a more difficult phase in its cybersecurity challenge, as a succession of major data breaches and ransomware attacks exposes weaknesses not only in corporate IT systems but also in supplier networks, governance structures and operational resilience.

Japan's four largest beer makers were subjected to simultaneous compulsory searches on October 7 over suspicions they coordinated wholesale prices for beer and other alcoholic beverages, in a rare cartel investigation that could lead to criminal charges.

Tokyo stocks fell on October 7, with the Nikkei 225 closing at 70,036, down 648 points, as investors took profits in semiconductor and artificial intelligence-related shares after the index’s rapid climb above 70,000 earlier in the week.

Japan's prolonged period of rising prices is continuing to squeeze households and businesses, driven by the weak yen, higher raw material costs and rising wages, forcing consumers to change how they shop and cook while companies search for ways to contain costs without losing customers.