Japan to Provide Up to 159 Billion Yen in Subsidies to Tower Semiconductor

Japan's core machinery orders fell 12.4% in May from the previous month to 962 billion yen, marking the first decline in two months, the Cabinet Office said on July 15.

The Ministry of Economy, Trade and Industry said it will provide up to approximately 159 billion yen in subsidies to Israel-based chipmaker Tower Semiconductor to expand production capacity at facilities in Niigata and Toyama prefectures.

Japanese companies announced new cybersecurity services, investment products and technology initiatives on July 14, while earnings releases highlighted sharply different conditions across the housing and food-import sectors.

Tokyo stocks rebounded on July 14 after an early fall of nearly 1,000 points, as investors bought back semiconductor and artificial intelligence-related shares while a recovery in South Korean equities and easing Japanese bond yields helped restore risk appetite.

Mitsubishi UFJ Financial Group became Japan's most valuable company for the first time on the Tokyo stock market on July 13, overtaking Toyota Motor as expectations grow that higher interest rates will lift bank earnings.

A debate over whether shorts belong in the workplace is spreading in Japan after Tokyo Governor Yuriko Koike encouraged metropolitan government employees to wear cooler clothing, including shorts, as part of efforts to cope with intensifying summer heat.

A 65-year-old man who spent 40 years working for a company was shocked to learn that his pension would amount to 168,000 yen a month, raising fresh concern over whether retirees in Japan can live on public pension payments alone.

Small supermarkets offering lower prices than convenience stores and closer access than full-size supermarkets are expanding rapidly across the Tokyo metropolitan area, as retailers race to meet demand from older consumers, single-person households and shoppers under pressure from rising prices.