News On Japan
Business | 6

The Hands Shibuya store, a longtime landmark in Tokyo’s Shibuya district, will close in November this year, bringing its 48-year history to an end.

A model room for a luxury condominium tower under development at Grand Green Osaka in the Umekita district of Osaka has been unveiled, with its most expensive unit priced at 40 billion yen as the developer seeks demand from wealthy buyers looking for second homes.

The Idemitsu Maru, the first crude oil tanker bound for Japan to pass through the Strait of Hormuz since tensions in the Middle East worsened, arrived at Nagoya Port at around 10:45 a.m., carrying approximately 2 million barrels of crude oil from Saudi Arabia.

Toshifumi Suzuki, honorary adviser to Seven & i Holdings and widely regarded as the father of Japan's convenience store industry, has died of heart failure at the age of 93.

The film 'Kokuhou,' which swept 10 categories at this year's Japan Academy Film Prize ceremony in March, has become one of Japan's biggest box office successes in decades, helping fuel record profits at major distributor and production company Toho.

The Nikkei Stock Average climbed sharply again on May 22nd, closing at a record high of 63,339 as investor sentiment improved on expectations that fighting between the United States and Iran could soon come to an end.

Nagoya Customs released its April trade report on May 21st, showing clear signs that tensions in the Middle East are affecting both imports and exports, with shipments to the region falling 82.4% from a year earlier to 26.17 billion yen.

Honda will launch a new compact electric vehicle in Japan as it seeks to expand EV sales and rebuild its four-wheel business following its first annual loss since listing.