Starting October 1, Japan's major banks will raise their variable mortgage rates, sparking a surge in demand at housing sales sites.
Tokyo's benchmark stock index plunged on Monday following Friday's vote for the leadership of Japan's main ruling Liberal Democratic Party. The election of Ishiba Shigeru as party president has investors reconsidering their bets for economic policy. (NHK)
Toyota's global production has seen a decline for the seventh consecutive month. In August, Toyota Motor Corporation announced that its worldwide production totaled 709,571 units, an 11.2% decrease from the same period last year.
Suzuki plans to increase its car dealerships in India by 70% to around 6,800 stores by the fiscal year 2030, according to a report by the Nikkei. The automaker has been contracting with local companies to expand its network, adding approximately 200 dealerships annually in recent years.
The president of Nippon Steel says he cannot be optimistic about its takeover of US Steel due to opposition from the United Steelworkers union, or USW. (NHK)
The average salary received by employees working in private sector companies last year increased for the third consecutive year, reaching 4.6 million yen, according to a survey by Japan's National Tax Agency.
Egg prices are increasing once again, particularly impacting businesses like a Baumkuchen specialty shop in Adachi, Tokyo, which uses 3,000 eggs daily. President Eisuke Namai expressed concerns over the rising costs, noting that eggs are crucial for the cake's quality, and a recent price surge has made it difficult to pass on costs to consumers repeatedly.
The Bank of Japan governor says the BOJ will carefully examine the timing of future rate hikes rather than setting a schedule in advance. Ueda Kazuo cited uncertainties surrounding the US economy. (NHK)