News On Japan

90-Year-Old Canon President to Step Down for Third Time

TOKYO - Canon announced a change in its top management, with President Fujio Mitarai set to relinquish the presidency for the third time. Mitarai, currently 90, will move into the role of chairman and chief executive officer while handing day-to-day management to Vice President Ogawa, who will assume the post of president and chief operating officer.

“I will continue to set the company’s management direction as chairman and CEO, while working closely with Vice President Ogawa as he takes on the role of president and COO,” Mitarai said.

Mitarai first became president in 1995 and has led the company for more than three decades, steering Canon’s expansion into a global enterprise.

In 2006, he was selected as chairman of Keidanren, becoming one of Japan’s most prominent business leaders, and also served as a member of the government’s Council on Economic and Fiscal Policy.

Mitarai returned to the presidency in 2020 after the previous president stepped down for health reasons, marking his third term in the role after a four-year interval. The latest announcement represents his third departure from the presidency, as he transitions to focus on strategic oversight as chairman and CEO.

Source: TBS

News On Japan
POPULAR NEWS

Toyota Motor will begin operating fully autonomous taxis in 2027 through a partnership with U.S. self-driving technology company Waymo, marking a major step in the Japanese automaker's efforts to expand driverless transportation services.

Mount Fuji has received its first snowcap of the season, the Japan Meteorological Agency announced on October 30, after temperatures at the summit plunged to minus 9.4 degrees Celsius, marking the arrival of winter conditions on Japan's highest mountain.

U.S. intelligence agencies suspect that a Chinese female intelligence operative developed a close relationship with Nvidia CEO Jensen Huang in an attempt to obtain confidential corporate and U.S. government information, according to a report published by The New York Times on October 29th.

The Japanese government has asked major telecommunications operators to forcibly block access to websites believed to contain personal information stolen in a cyberattack on GMO, it emerged on October 29th, as authorities moved to prevent further exposure of sensitive data online.

Typhoon No. 31 was located near Minamitorishima Island in the Pacific Ocean, as of 3 a.m. on October 30, and was expected to approach the Ogasawara Islands south of Tokyo over the October 31-November 1 weekend while maintaining very strong intensity, bringing a growing risk of dangerously high waves, powerful swells and extremely rough seas.

MEDIA CHANNELS
         

MORE Business NEWS

Japan's furniture and home goods retailer Nitori opened what it describes as its largest store in the world on October 30th in Osaka's Chayamachi district, bringing a major new retail destination to an area east of Hankyu Osaka-Umeda Station known for its youth culture, fashion boutiques, and specialty shops.

Japan's Nikkei 225 Stock Average plunged 1,369.36 points, or 2.12%, to close at 63,290.11 at 3:30 p.m. on Friday, October 30, ending a three-day winning streak as a sharp selloff in semiconductor and artificial intelligence-related shares swept through the Tokyo market, while the Bank of Japan's decision to leave interest rates unchanged failed to restore investor confidence.

The Bank of Japan announced on October 30th that underlying inflation has effectively reached its 2% target for the first time since the goal was introduced in 2013, marking a major milestone in the country's efforts to achieve sustained price growth, while keeping its benchmark interest rate unchanged at 1.25% as policymakers assess the impact of last month's rate increase.

Halloween celebrations across Japan are becoming increasingly expensive as October 31 approaches, with costume prices nearly doubling over the past five years and the average spending budget rising to 8,148 yen, prompting more people to find creative ways to enjoy the annual event without stretching their finances.

Hands Shibuya, one of Tokyo's best-known variety stores, will close on November 15 after 48 years in business, bringing an end to a shopping destination famous for its enormous selection of innovative household goods, stationery and unusual gadgets, with around 100,000 products still filling its shelves in the final weeks before closure.

Tokyo stocks extended their recovery on Thursday, October 29, with the Nikkei 225 closing at 64,659.47 points at 3:30 p.m., up 705.28 points, or 1.10%, from the previous session, as renewed buying of semiconductor and artificial intelligence-related shares helped the benchmark record its third consecutive daily gain ahead of the Bank of Japan's monetary policy decision.

GMO has announced a reward totaling approximately 150 million yen for information leading to the identification of hackers responsible for a cyberattack on its systems, while also pledging compensation to customers whose personal information has been exposed, as Japan faces a growing wave of cyberattacks targeting major companies.

Japanese stocks extended their recovery on October 28, with the Nikkei 225 closing at 63,954.19 at 3:30 p.m. Tokyo time, up 685.82 points, or 1.08%, from the previous session, as strong demand for artificial intelligence-related semiconductor shares lifted the benchmark for a second consecutive day, even as the broader market weakened ahead of major interest rate decisions in Japan and the United States.