Interest rates on Japanese government bonds for individual investors offered in September have risen to record-high levels, with the 10-year floating-rate bond reaching 1.95%, according to figures announced on September 2.
U.S. Treasury Secretary Scott Bessent told Bank of Japan Governor Kazuo Ueda that he strongly supports decisive market intervention and monetary policy measures by Japan to address excessive yen weakness, saying the currency's depreciation is contributing to inflationary pressure.
Tokyo stocks ended mixed on September 1, with the Nikkei 225 closing at 66,215.34, down 96.59 points, or 0.15%, as rising bond yields and weakness in semiconductor shares weighed on the index, while the broader TOPIX rose 25.57 points, or 0.62%, to 4,181.86 for its ninth straight gain.
Japan's benchmark long-term interest rate reached 3% on September 1, its highest level since 1996, as government bond selling accelerated on expectations of a possible Bank of Japan rate hike, rising U.S. yields and growing concerns over Japan's fiscal outlook.
Honda and Nissan Motor have agreed to jointly develop an operating system and onboard computers for next-generation vehicles, aiming to introduce the technology in new models from fiscal 2029 as they seek to compete with U.S. and Chinese automakers.
Japan began producing a commemorative 1,000-yen silver coin marking 100 years since the start of the Showa era at the Japan Mint in Osaka on August 31, with a first-striking ceremony held to mark the start of production.