Japan to Abolish Cool Japan Fund

Aug 21, 2026 | News On Japan

TOKYO - 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.

The Ministry of Economy, Trade and Industry has decided not to include a funding request for the organization in its initial budget proposals for the next fiscal year, according to people familiar with the matter.

The Cool Japan Fund was established in 2013 as a public-private fund aimed at helping Japanese cultural products and services expand into overseas markets.

However, its performance has remained weak, including during the COVID-19 pandemic, and cumulative losses have grown to 54 billion yen.

In response, the ministry has already established an expert panel to consider restructuring or integrating the fund.

The government plans to reach a conclusion on the future of the organization by the end of 2026.

Source: TBS

Japan Challenges World Map Showing Disputed Islands in Russia's Color

Japan has asked for changes to an Equal Earth world map that depicts the Russian-controlled Northern Territories in the same color as Russia, prompting the map's creator to say the Japanese-language version will be revised while the English version will remain unchanged.

Carp Wash Up in Roadside Drains After Nagoya Floods

Nagoya was assessing the damage after record-breaking rainfall exceeding 100 millimeters in one hour struck the city on September 8, causing a river to temporarily overflow into a residential area and leaving carp and catfish stranded in roadside drains.

Footage Shows Tokyo Flood Control Tunnel After Heavy Rain

Large volumes of floodwater poured into the Metropolitan Area Outer Underground Discharge Channel in Kasukabe, Saitama Prefecture, following heavy rain on September 7, prompting the massive underground flood-control facility known as the "Underground Temple" to go into operation.

Osaka Metro to Abolish Magnetic Tickets and Shift to QR Code Tickets

Osaka Metro plans to abolish magnetic tickets and replace them with QR code-based tickets around fiscal 2031, as declining use and the cost of maintaining conventional ticket gates accelerate the shift toward digital fare systems.

Tickets for Asian Games Selling Fast

Ticket sales for the Asian Games are gathering pace with less than two weeks until the competition begins, with more than 60% of tickets sold for the opening ceremony and 31 sports as of September 7, although organizers say seats remain readily available for events including soccer and baseball.

MEDIA CHANNELS

MORE Politics NEWS

Titanic Photo Sparks Fresh Controversy in Fukuoka Assembly

The Fukuoka Prefectural Assembly elected a new chairman after the resignation of longtime power broker Isao Kuranouchi, while a photograph showing an opposition lawmaker striking a pose reminiscent of the movie Titanic during an overseas inspection trip has triggered a fresh political controversy.

Yen Carry Trade Unwind Puts Takaichi’s BOJ Strategy Under Pressure

Prime Minister Sanae Takaichi’s government faced a sharper market test on September 9 as the yen’s rapid rebound began pressuring global carry trades, turning expectations of a Bank of Japan rate hike into a political challenge for an administration still trying to balance household relief, fiscal discipline and economic security.

Yen Rally Turns BOJ Rate Hike Into Takaichi’s Next Political Test

Prime Minister Sanae Takaichi entered the final stretch before the Bank of Japan’s September policy meeting facing a new version of the currency problem that has shaped her summer: the yen is no longer collapsing, but its sharp rebound is now forcing her government to explain how far it is prepared to tolerate higher interest rates to restore market confidence.

Takaichi Steps Up Cabinet Reshuffle Plans

Prime Minister Sanae Takaichi is accelerating preparations for a Cabinet reshuffle that could take place as early as next week, considering ministerial posts for senior Liberal Democratic Party officials while weighing the treatment of Internal Affairs Minister Yoshimasa Hayashi and a new Cabinet member from the Japan Innovation Party.

Yokohama Mayor Resigns Over Power Harassment Allegations

Yokohama Mayor Takeharu Yamanaka resigned on September 7 after the city assembly unanimously approved his request to step down over allegations of workplace power harassment, setting the stage for a mayoral election in October.

Tokyo Unveils Design for Symbol Tree at Shinjuku Station

Tokyo has unveiled the design for a major redevelopment of the plaza outside Shinjuku Station's west exit, with a landmark tree, water-play area and event space planned as part of a transformation centered on "greenery, light and people" that is scheduled for completion in 2035.

Putin Says Tax Incentives on Disputed Islands Have Been Successful

Russian President Vladimir Putin said tax incentives on the Russian-held islands claimed by Japan have been successful, using a speech at the Eastern Economic Forum in Vladivostok to highlight economic development in Russia's Far East.

Japan Defends Fiscal and Growth Strategy After G20 Finance Talks

Finance Minister Satsuki Katayama said on September 3 that the economic policy of Prime Minister Sanae Takaichi's government should not be equated with conventional reflationary policy, after returning from the Group of 20 finance ministers and central bank governors meeting in the United States and briefing the prime minister on the talks.

< 2 3 4 5 >