Feb 05 (Nikkei) - People in Japan are hoarding the cash they accrued during the pandemic despite an easing of restrictions, with savings actually increasing to 62 trillion yen ($478 billion), or more than 10% of the country's gross national product.
The trend appears to reflect a general feeling of insecurity among consumers about the future -- a mood in stark contrast with the U.S., which saw savings plummet 60% from its pandemic peak. ...continue reading
A new store format from Don Quijote, named "Kirakira Donki," opened its doors in Tokyo's Shibuya district on Tuesday, aiming primarily at Generation Z and attracting a significant number of foreign tourists on its first day.
In a move to address the significant issue of food waste, which amounts to approximately 5 million tons annually across Japan, convenience store chains are intensifying their discount strategies.
Amid a nationwide trend of retail closures, Japan's department store sector has achieved record profits, particularly bolstered by the influx of foreign tourists, fueled by a favorable exchange rate.
Major American IT companies like Microsoft and Oracle have announced substantial investments totalling 4 trillion yen ($26 billion) in data centers in Japan, sparking concerns about digital sovereignty and AI development.
A former host admitted to knowingly receiving approximately 25 million yen that had been deceitfully obtained by convicted scammer "Riri-chan," in a trial held on April 23.
A cherry tree located at one of Kyoto's busiest pedestrian streets, Sanneizaka, a main pathway to Kiyomizu Temple, suddenly fell at 11:45 AM on Tuesday, trapping a school teacher beneath.
The biannual Spring Garden Party, hosted by the Emperor and Empress, took place at Tokyo's Akasaka Imperial Garden on Tuesday, with Princess Aiko gracing the event, warmly engaging with the guests.
The site of the former Tsukiji Market is set for a major transformation, including a stadium with a capacity of 50,000 people and a launch pad for flying cars.
