News On Japan

Toshifumi Suzuki, Father of Japan's Convenience Stores, Dies at 93

TOKYO - Toshifumi Suzuki, honorary adviser to Seven & i Holdings and widely regarded as the father of Japan's convenience store industry, has died of heart failure at the age of 93.

Suzuki established what is now Seven-Eleven Japan in 1973, launching Japan's first full-scale convenience store business and laying the foundation for an industry that would become an essential part of daily life across the country.

In 1978, he became the first in the industry to sell onigiri rice balls, which until then had generally been made at home. Suzuki also developed services that are now closely associated with Japanese convenience stores, including the installation of ATMs and the acceptance of utility bill payments.

Speaking in 2023, Suzuki said: "I hope young people will continue to demonstrate their abilities and enable Seven-Eleven to spread its wings throughout Japan and around the world."

Suzuki stepped down as chairman and chief executive officer of Seven & i Holdings in 2016, but continued to support the company as honorary adviser. He died of heart failure on May 18th at the age of 93.

Source: TBS

News On Japan
POPULAR NEWS

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.

MEDIA CHANNELS
         

MORE Business NEWS

Tokyo stocks rose on August 10, with the Nikkei 225 closing at 66,376.25, up 1.2%, as investors bought electronics, metals and artificial intelligence-related shares, while fresh signs of a more hawkish Bank of Japan debate kept attention on the yen, bond yields and the timing of the next rate increase.

Japan recorded a current account deficit of 92.3 billion yen in June, its first shortfall in 17 months, as a sharp increase in import costs outpaced growth in exports.

Several Bank of Japan policymakers have signaled support for accelerating interest rate increases, with one member warning that the pace of hikes could become faster than financial markets currently expect as the central bank pays greater attention to upside inflation risks.

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.