News On Japan

Tokyo Investor Abandons Plan for New Sapporo Zoo

SAPPORO - A Tokyo-based investment firm that had planned to take over the closed zoo North Safari Sapporo in Minami Ward, Sapporo, and develop a new zoological park has decided to scrap the plan as of March 3rd.

Beach Capital, the Tokyo investment company, had been coordinating plans to inherit the former North Safari Sapporo site and open a new zoo on adjacent land.

According to people familiar with the matter, Beach Capital had intended to continue using the existing buildings of North Safari until the new facility was completed. However, the city of Sapporo maintained its position that the current structures must first be removed, prompting the company to abandon the project and return the plan to square one.

Beach Capital remains willing to take custody of the animals and is now considering searching for a new site within Sapporo or nearby areas to house them.

Source: 北海道ニュースUHB

News On Japan
POPULAR NEWS

Typhoon No. 18, known as Soudelor, could directly affect Okinawa and the Amami Islands around August 26 after intensifying into a "very strong" storm, while dangerous heat and sudden thunderstorms are also threatening wide areas of Japan.

Japan's government is moving toward abolishing the Cool Japan Fund, a public-private investment vehicle created to support the overseas expansion of Japanese anime, food culture and other industries, after its cumulative losses reached 54 billion yen.

Four workers were killed after being struck by the limited express train Spacia X while carrying out vegetation-clearing work at Shin-Kanuma Station on the Tobu Nikko Line in Kanuma, Tochigi Prefecture, on August 20, prompting an investigation by the Japan Transport Safety Board.

Plans to bring Shinkansen service to Shikoku have taken a significant step forward for the first time in 53 years, with the transport ministry beginning preliminary studies that could eventually cut travel times from Osaka to major cities including Tokushima, Takamatsu and Matsuyama to around 90 minutes.

A Takenaka Corp. construction manager who oversaw work on the Grand Ring and other facilities at the Osaka-Kansai Expo was arrested on August 19 on suspicion of causing more than 13 million yen in losses to the major contractor through inflated construction bills, with police investigating allegations that money from the scheme was used for renovations to his home and a cafe operated by relatives.

MEDIA CHANNELS
         

MORE Business NEWS

Mitsubishi Electric said on August 20 that it will acquire U.S.-based PCI Energy Solutions, a developer of software used to manage electricity trading and other energy operations, in a deal worth about 220 billion yen, the largest acquisition in the Japanese company's history.

Tokyo stocks rebounded on August 20, with the Nikkei 225 closing at 66,216.79, up 890.37 points, or 1.36%, as gains in U.S. equities, a sharp rally in South Korean semiconductor shares and easing global bond-market stress encouraged investors to buy back Japanese shares after two days of heavy selling.

Japan's labor ministry will revise its guidance on overtime from September 1, moving away from a uniform recommendation that workplaces keep overtime within 45 hours a month and placing greater emphasis on whether employers have adequate measures in place to protect workers' health.

Whistleblowers who expose suspected wrongdoing at companies and other organizations in Japan are increasingly finding themselves targeted by multimillion-yen damages claims, raising questions over whether the country's legal system adequately protects people who report misconduct.

Small businesses across Japan—from Tokyo tech startups to traditional long-standing shinise enterprises— are increasingly becoming targets for sophisticated digital scams.

Catalog House, the operator of shopping catalog magazine Tsuhan Seikatsu, has announced it will stop selling through Rakuten Market in protest over Rakuten Group's partnership with a German military drone company and its plans to support the introduction of the drones to Japan's Ground Self-Defense Force.

The bankruptcy of payment processing company Zento Shin has raised concerns over the impact on restaurants and other small and midsize businesses, while highlighting regulatory gaps in Japan's rapidly expanding cashless payment industry.

Tokyo stocks fell sharply on August 19, with the Nikkei 225 closing at 65,326.42, down 3.2%, its lowest finish since August 4, as renewed selling in artificial intelligence and semiconductor-related shares combined with rising bond yields, higher oil prices and geopolitical concerns to trigger a broad risk-off move.