Sumitomo Mitsui and Mizuho to end lending for new coal-fired plants
Japan Times -- Apr 17
Sumitomo Mitsui Financial Group Inc. said Thursday it would no longer lend to new coal-fired power plants from May 1, a day after peer Mizuho Financial Group Inc. said it would stop financing new power projects involving the fossil fuel.

The policy change comes as the sector faces pressure from activist investors and environmental groups to help mitigate climate change.

SMFG said in a statement that the movement toward decarbonization has been progressing globally since the Paris climate accord and that it “would not provide financial support in principle to new coal-fired power plants.”

Japanese banks are among the few major lenders who have stuck to backing coal projects even as other banks worldwide cut their exposure to the fuel.

The nation’s three major banks, SMFG, Mizuho and Mitsubishi UFJ Financial Group, have been among the world’s top five lenders to the coal power and mining industries over the past five years, according to Refinitiv SDC Platinum data.

Mizuho said Wednesday it would halve its ¥300 billion ($2.8 billion) in loans to coal power projects by 2030 and then to zero by 2050. It will also abolish new investments in and loans to construction projects for coal-fired plants with high carbon dioxide emissions effective June 1.

News source: Japan Times
Mar 02
Two Americans accused of helping former Nissan Motor chairman Carlos Ghosn flee Japan have arrived at Narita Airport near Tokyo, after being extradited by US authorities. Michael Taylor, a former Green Beret, and his adult son Peter face charges, including enabling a suspect to escape. (NHK)
Mar 02
Yahoo Japan and messaging app provider Line have officially merged, creating a new tech giant. (NHK)
Mar 02
Japanese flea market app Mercari will sell products in China through Alibaba Group Holding's e-commerce platforms, accelerating its expansion overseas. (Nikkei)
Feb 28
Japan’s Mizuho Bank stopped service at some of its automated teller machines (ATMs) on Sunday after the machines devoured customers’ cash cards and bank books. (Japan Times)
Feb 28
Fans show up for sold out U.S. premiere of anime film "Demon Slayer,” which broke records as highest grossing film in Japanese history. (Associated Press)
Feb 27
Toyota Motor Corp. said Friday it will put on sale in the spring its hydrogen-powered fuel cell system, which could be used by train and ship operators as well as power companies. (Japan Times)
Feb 26
On the Tokyo Stock Exchange, the benchmark Nikkei Average briefly dropped by more than 1,000 points at one time on Friday from the previous day's close. (NHK)
Feb 26
A chip shortage is biting at Japan's big carmakers. (Reuters)
Feb 26
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing international concern about climate change, Nikkei has learned. (Nikkei)
Feb 25
An Istanbul court on Wednesday sentenced three Turks to four years and two months in prison for helping smuggle former Nissan boss Carlos Ghosn in a musical instrument case to Lebanon from Japan. (yahoo.com)
Feb 25
Nippon Steel’s announcement is the latest example of the challenges faced by the steel industry in developed economies: overcapacity and environmental regulations. (yahoo.com)
Feb 25
Suzuki Motor Corp. Chairman Osamu Suzuki will retire after leading the Japanese automaker for more than 40 years and making it into a global player with an overwhelming dominance in the Indian car market, the firm said Wednesday. (Japan Times)
Feb 25
It’s no secret that the best Japanese whisky can be hard to find – even in Japan. Despite all the limited-edition bottles and the re-releases of old single malts, the good stuff is in chronically short supply. In fact, there’s even less Japanese-made whisky out there than you think. (timeout.com)
Feb 25
Since 1999, the Bank of Japan has done virtually everything imaginable to defeat deflation. It pumped untold trillions of dollars of liquidity into markets, cornered government bond trading, hoarded stocks and pushed interest rates negative. (forbes.com)
Feb 25
Japan's SG Holdings, operator of the Sagawa Express courier service, looks to switch all of its roughly 7,000 minicars to electric models by 2030 with the goal of reducing carbon emissions more than 10%. (Nikkei)
Feb 25
If you ever wondered why are Japanese businesses so resilient, well the answer is a little bit complicated but it’s also simple. (newsonjapan.com)
Feb 23
"Johatsu" means "Evaporated People" and it is the term the Japanese use for when people disappear without a trace. (Brilliant News)
Feb 22
Komatsu, Japan's top construction equipment maker, plans to develop hydrogen power as an alternative to diesel for heavy-duty mining dump trucks, in a first for the industry, Nikkei has learned. (Nikkei)
Feb 22
Coronavirus vaccine rollouts have begun worldwide, raising hopes that the global economy can start to reopen. (Nikkei)
Feb 22
Twelve major Japanese companies have established a policy of ceasing business deals with Chinese companies found to benefit from the forced labor of the Muslim Uyghur minority in China's far-western Xinjiang region, a Kyodo News investigation showed Sunday. (Kyodo)