Journalist

마키타 쥰코 기자/ [번역] 이경
  • Takaichi Unveils Revised ‘Free and Open Indo-Pacific’ Plan in Hanoi, Puts Economic Security First
    Takaichi Unveils Revised ‘Free and Open Indo-Pacific’ Plan in Hanoi, Puts Economic Security First Japan’s Prime Minister Sanae Takaichi, visiting Vietnam, used a foreign policy speech to lay out a new diplomatic line, revising the “Free and Open Indo-Pacific” (FOIP) concept first advanced in 2016 by former Prime Minister Shinzo Abe. The update shifts the emphasis decisively toward economic security, including stronger supply chains for critical goods, analysts said. Speaking at Vietnam National University in Hanoi to an audience of 270 students and experts, Takaichi said, “The environment around us has changed greatly, but the validity of FOIP remains unshaken,” adding that Japan would “play an even more proactive role than before.” She set out three priorities: building an economic ecosystem by strengthening energy and critical-material supply chains; jointly developing new economic fields and sharing rules through public-private cooperation; and expanding linkages in the security domain. Takaichi also said Japan would promote a “FOIP digital corridor” focused on information and communications infrastructure such as undersea cables and communications satellites. She said Japan would expand both the number of countries and the scale of its Official Security Assistance (OSA) program, which provides weapons and equipment free of charge to friendly militaries. She also pledged an early start to procedures to expand the Trans-Pacific Partnership (TPP). Japanese media offered differing readings of the revised plan. Nikkei said the update is aimed at responding to an era of “power” shaped by the United States and China, and at preserving a wavering “rule of law” by putting economic security at the center and prioritizing practical cooperation with partners. Nikkei highlighted what it called a key difference from 2016. When Abe first promoted FOIP, Japan and the United States held up shared values such as “freedom from coercion,” the “rule of law” and a “market economy.” A decade later, Nikkei wrote, “the United States, FOIP’s most important partner, has come to ‘coerce’ countries by using tariffs.” The newspaper also said the United States showed disregard for international law in a military clash with Iran and described the Strait of Hormuz as having been “reverse-blockaded.” In Nikkei’s framing, the United States shifted from a country that should not be a coercer to one acting as a coercer. Nikkei also pointed to China’s export controls on critical materials and Russia’s invasion of Ukraine as factors creating an environment in which countries “cannot help but follow power.” It said Takaichi’s call for “autonomy” and “resilience” across the economy, society and security fit that context. Yomiuri Shimbun said the revised FOIP is aimed at China, which it said is intensifying coercive moves on both the economic and military fronts. It reported that Takaichi warned low-cost Chinese artificial intelligence could be used for influence operations and stressed joint development of local-language AI with Southeast Asian countries. Yomiuri also said she signaled a response to market distortions, citing “unfairly low-priced supply,” in remarks it linked to China amid concerns about overproduction in sectors such as electric vehicles and steel. Yomiuri also cast a $10 billion financial support package announced by the Japanese government last month, dubbed “Power Asia,” as a core tool of Takaichi’s diplomacy. It said the package could be used urgently, including to support crude oil procurement for Southeast Asian countries during the Strait of Hormuz blockade situation. A senior Japanese government official described Power Asia as “live ammunition” to put FOIP into practice. Another Foreign Ministry official said Japan’s strength is providing tailored support for what partner countries need, since Japan cannot outspend China in scale. At the same time, Japanese newspapers voiced doubts about the plan’s effectiveness, pointing to the absence of the United States as a shared weakness. Yomiuri said the United States, pressed by Middle East developments, has little room to focus on the Indo-Pacific and warned that without U.S. cooperation the prime minister’s plan could become “a pie in the sky.” Asahi Shimbun said the second Trump administration has continued actions that deny freedom and the rule of law, including launching attacks on Iran while disregarding international law. Combined with Nikkei’s view that the United States has become a coercive actor, the three papers described different facets of the same vulnerability: physical absence, ideological departure and coercive behavior. A second weakness, Asahi said, is that even Vietnam — the venue for the announcement — may keep its distance. Citing Futaba Ishizuka, a researcher at the Institute of Developing Economies, Asahi reported that while Vietnam joined the Indo-Pacific Economic Framework (IPEF), it has avoided using the U.S.-promoted phrase “Indo-Pacific” in major domestic policy documents. The move was seen as reflecting sensitivity to China, a neighboring socialist country and Vietnam’s largest trading partner, and Asahi said Vietnam is expected to “carefully balance” its stance on the revised FOIP as well. A third weakness is the diverging positions among Southeast Asian countries. Yomiuri said there are differences in temperature on security cooperation: the Philippines is considering importing used Japanese weapons and equipment, while Cambodia and Indonesia have held successive “2+2” meetings of foreign and defense ministers with China since last year. The paper said the reality is not a unified ASEAN line but a region split in multiple directions. Takaichi’s revised FOIP has opened with a high-profile rollout, but Japanese media said Japan faces a heavy task in rallying partners without the United States. Vietnam’s cautious approach and Southeast Asia’s fragmentation have emerged as early variables. How Japan manages partner diplomacy amid U.S. absence remains a key test, with implications for South Korea’s Indo-Pacific strategy and its ASEAN diplomacy.* This article has been translated by AI. 2026-05-03 17:41:02
  • Japan Steps In to Support Yen, Sending Dollar Rate From 160s to 155s
    Japan Steps In to Support Yen, Sending Dollar Rate From 160s to 155s Until the day before, many in the market had played down the likelihood of intervention. Within a day, that view flipped. Japan’s government and the Bank of Japan moved on April 30 to curb yen weakness, buying yen and selling dollars. The Nikkei newspaper reported the yen slid into the high 160s per dollar during trading, then fell to the 155 range within hours, a swing of about 5 yen. A Japanese government official also acknowledged the intervention to Nikkei. It was the first such action in about 1 year and 9 months since July 2024. The timing was unusual. Japan is in its Golden Week holiday stretch from April 29 to May 6. April 30 and May 1 are not official holidays, but participation typically drops and trading thins. Nikkei said authorities acted pre-emptively to counter speculative yen selling that can intensify when liquidity is low. Just before the move, sentiment had pointed the other way. Many expected the yen to keep weakening, citing a surge in oil prices and a widening U.S.-Japan interest-rate gap. Some in Japan’s financial markets also argued any intervention would have limited impact. Officials, however, moved faster than many expected. Ahead of the market swing, Finance Minister Satsuki Katayama said the time to take “decisive measures” was drawing near. Atsushi Mimura, the Finance Ministry’s top currency diplomat, called it a “final warning.” Within minutes, the exchange rate shifted sharply, and markets treated it as a de facto intervention. The Asahi Shimbun reported that yen-buying accelerated after the remarks and the rate dropped to the 155 range, adding that government and BOJ intervention appeared to have occurred. The Yomiuri Shimbun also reported the roughly 5-yen drop from the 160s to the 155s raised the likelihood of intervention. Nikkei said the speed of the move caught traders off guard: the rate fell more than 1 yen in just five minutes and continued sliding, nearing a 5-yen move in a short time. It attributed the drop in part to speculators switching to yen buying to limit losses. By U.S. Commodity Futures Trading Commission data, speculative funds’ net short yen positions had already built to their largest level in 1 year and 9 months. With positions heavily one-sided, intervention triggered short covering that amplified the move. Questions remain about how long the effect will last. Nikkei said yen-weakening pressure could strengthen again if Middle East instability persists and oil prices keep rising. It also cited the U.S. Federal Reserve’s cautious stance on rate cuts as a factor supporting the dollar. The U.S. response is another variable. Nikkei reported a U.S. Treasury spokesperson said Washington is in close communication with Japan’s Finance Ministry. U.S. Treasury Secretary Scott Bessent told Katayama in a January meeting that excessive exchange-rate volatility is undesirable, Nikkei said. The Treasury has generally signaled tolerance for Japan’s yen-buying moves, Nikkei added, because they run counter to the kind of currency-weakening policies the Trump administration has criticized. Many analysts described the action as buying time rather than signaling a lasting shift. Yuya Yokota, senior vice president at Mitsubishi UFJ Trust and Banking’s New York branch, said it bought time until Middle East turmoil eases. Mark Chandler, chief market strategist at Bannockburn Capital Markets, said it would take time before speculators resume trades that bet on a weaker yen. After the intervention, the yen gave back part of its gains and has traded around the 156 range. Mimura told reporters on May 1 that the holiday period is still in its early stages, maintaining vigilance against speculative moves, but said he would not comment on whether authorities intervened. Some in the market also pointed to a “learning effect” from intervention during Golden Week in 2024. Terumasa Kawakami, an analyst at Mitsubishi UFJ Bank, said memories of that episode could make traders more reluctant to bet against the yen during the holiday period. Outlooks diverge. Yoshimasa Maruyama, an economist at SMBC Nikko Securities, said repeated intervention could leave room for the rate to fall into the 140s. Others say there is still capacity for renewed yen selling. Nikkei reported that just before the July 2024 intervention, speculators’ yen short positions swelled to 180,000 contracts, about double the level just before this latest move (94,460 contracts). If Middle East tensions do not ease and oil prices rise another step, Nikkei said, pressure for a weaker yen could return. Only a day earlier, skepticism about intervention had been widespread. The remaining question is whether this move signals a turning point or proves to be a temporary shock.* This article has been translated by AI. 2026-05-01 22:24:23
  • Yen Breaks Past 160 per Dollar as Japan Holds Rates and Bond Yields Hit 29-Year High
    Yen Breaks Past 160 per Dollar as Japan Holds Rates and Bond Yields Hit 29-Year High “You must not say that.” After an economic and fiscal advisory meeting at the prime minister’s office on the 13th, Prime Minister Sanae Takaichi summoned Economy, Trade and Industry Minister Ryosei Akazawa for a private reprimand. The day before, Akazawa told NHK that “a rate hike is also an option” to respond to the yen’s weakness. While the stated reason was the principle that monetary policy is the BOJ’s domain, markets took it as a signal that the government does not want higher rates. The Nikkei business daily reported that this mood was clearly felt inside the prime minister’s office. A little more than two weeks later, on the 29th in New York trading, the yen slid into the mid-160s per dollar, breaking the widely watched “160 line.” On the 30th in Tokyo, it failed to rebound from the low 160s, as a level long seen as a likely trigger for Japanese intervention gave way with little resistance. At the same time, Japan’s bond market delivered its own warning: the 10-year government bond yield, a benchmark for long-term rates, rose as high as 2.52% intraday on the 30th, the highest since 1997. With the BOJ holding its policy rate at 0.75%, market rates surged, underscoring a widening gap between policy and markets. The immediate catalyst was the BOJ’s pause. At its policy meeting on the 28th, the BOJ kept rates unchanged. The number of members arguing for the need to raise rates increased to three, and the bank raised its inflation outlook, but it did not move to hike. Analysts cited the government’s cautious stance and instability in the Middle East as factors making it difficult for the BOJ to act quickly. Political scrutiny also weighed on decision-making. Nikkei reported that Economic and Fiscal Policy Minister Minoru Kiuchi, seen as a cautious voice, attends BOJ meetings “in principle every time” to monitor deliberations. The BOJ’s restraint was also linked to frustration within the government after Ueda’s advance signaling ahead of a rate increase last December was priced in by markets, narrowing policymakers’ room to maneuver, the report said. Meanwhile, external pressures intensified. With Middle East tensions persisting, concerns grew that a closure of the Strait of Hormuz could drag on, and oil prices became entrenched above $100 a barrel. For Japan, which relies heavily on energy imports, that translated quickly into inflation pressure. In the bond market, selling spread as investors priced in higher inflation, pushing yields up. U.S. developments added to the strain. The Federal Reserve held rates steady at its April 29 Federal Open Market Committee meeting, but three regional Fed bank presidents opposed keeping dovish language in the statement, signaling continued tightening. As U.S. long-term yields rose, upward pressure spilled into Japan, and expectations that the U.S. would not pivot easily toward easing supported a stronger dollar. In currency markets, those forces converged. Keiko Ninomiya, a senior analyst at SMBC Trust Bank, said expectations of a worsening trade balance from higher oil prices and a widening U.S.-Japan rate gap were working at the same time, adding that the yen could weaken further into the 161 range in the short term. Tsuyoshi Ueno, chief economist at NLI Research Institute, said current volatility alone was not enough to justify intervention, and that authorities would be more likely to respond if the yen moved quickly toward 162 per dollar. Speculative money also piled in. According to U.S. Commodity Futures Trading Commission data, as of the 21st speculators’ net short yen position expanded to about 94,460 contracts, worth roughly 1.18 trillion yen, the largest in about 1 year and 9 months and the biggest since Japan’s government and the BOJ intervened in July 2024. Rinto Maruyama, a strategist at SMBC Nikko Securities, said hedge funds and others were increasing yen-selling positions as they judged that fundamentals were strengthening pressure for a weaker yen. Bond investors voiced a more direct concern. Tadashi Matsukawa, a portfolio manager at PineBridge Investments, said that even as more BOJ members favored rate hikes and the inflation outlook was raised, policy was not following through. The remark was seen as reflecting worries that the central bank is “behind the curve.” Shotaro Gugo, a researcher at the International Monetary Institute, said a July rate hike was most likely at this point, but added that a June hike could not be ruled out if uncertainty clears. Nikkei said Japan’s market dynamics are increasingly reinforcing each other: high oil prices lift inflation expectations and spur bond selling, while also deepening yen weakness through expectations of a deteriorating trade balance. The longer policy responses are delayed, the paper warned, the greater the risk of market volatility. The paper also contrasted the BOJ’s response during the first oil shock, when it focused on stimulating the economy and fell behind on inflation control, with the second oil shock, when pre-emptive tightening reduced the impact. It warned that delaying hikes could raise the risk of stagflation, with surging prices and an economic downturn arriving together. Authorities’ room to act is narrowing. Finance Minister Satsuki Katayama has repeatedly said Japan can take “firm and strong measures” against speculative moves, but skepticism about the effectiveness of intervention remains. Toru Sasaki, chief strategist at Fukuoka Financial Group, said the recent yen weakness reflects fundamentals as well as speculation, which could limit the impact of intervention. Yujiro Goto, a strategist at Nomura Securities, said that even if intervention occurs, its effect would likely last only a few weeks, at most until the next BOJ meeting in June. Officials also face the risk that further yen weakness could fuel import-driven inflation and provide grounds for trade pressure from the Trump administration. The break below 160 yen per dollar and the move above 2.5% in long-term yields have become twin markers of Japan’s shifting financial landscape — a sign that markets and money are moving ahead while policy hesitates.* This article has been translated by AI. 2026-04-30 14:31:03
  • Japan Pushes Defense Spending Hike While Pursuing Tax Cuts, Subsidies
    Japan Pushes Defense Spending Hike While Pursuing Tax Cuts, Subsidies Japan is pursuing an unusual fiscal course: sharply increasing defense spending while also pushing consumption-tax cuts and continuing subsidies, according to a report by the Nihon Keizai Shimbun, or Nikkei, on April 28. With the Donald Trump administration pressing allies to spend more on defense, many major countries are seeking new revenue or cutting other outlays to pay for it. Japan, by contrast, is trying to do both — fund “guns” and “butter” at the same time, the report said. According to Nikkei, the Takaichi Cabinet on April 27 launched an expert panel on strengthening defense capabilities. The government plans to pursue revisions this year to the “three security documents,” with expanded defense spending emerging as a central issue alongside policies such as the use of drones and artificial intelligence. The report said the backdrop is strong pressure from Washington. The United States is calling on allies to raise “core defense spending” to 3.5% of gross domestic product and total security-related spending, including infrastructure, to 5%. Japan is maintaining its position that it will not present a single total defense-spending figure, instead adding up individual budget items. But as NATO, South Korea and Australia announce plans aligned with U.S. demands, Japan faces a tougher environment for holding out, Nikkei said. Other countries have already begun tightening budgets. France has moved to strengthen taxation on the wealthy and curb increases in some spending, including education, to support military expansion. Britain has decided to allocate cuts in its foreign aid budget to higher defense spending. Nikkei said the moves reflect deepened awareness of fiscal discipline after the so-called “Truss shock,” which triggered a surge in interest rates. Australia, too, has announced plans to nearly double defense spending from 59 billion Australian dollars (about 55 trillion won) to 112.1 billion Australian dollars (about 105 trillion won) by fiscal 2035, while considering restraint in spending for a large disability insurance program used by 760,000 people. Japan is taking a different approach. Under what it calls “responsible, proactive fiscal policy,” the Takaichi administration has kept alive discussions of cutting the consumption tax and has continued gasoline subsidies, citing higher oil prices tied to instability in the Middle East. Spending is estimated at about 500 billion yen a month, the report said, and there are no parallel steps aimed at curbing demand. With both ruling and opposition parties broadly favorable to tax cuts and expanded spending, political checks are not functioning, Nikkei said. The approach runs against the classic economic “guns versus butter” tradeoff, in which military spending and domestic programs compete for limited resources. Nikkei noted that there is little domestic pushback against Takaichi’s election pledge to “catch both rabbits at once.” Concerns about fiscal sustainability remain. When the three security documents were drawn up in 2022, a government advisory body listed “stability of the fiscal foundation” as a precondition for strengthening defense capabilities and stressed the importance of maintaining market confidence. Keishi Ono, a senior researcher at the National Institute for Defense Studies, told Nikkei that Japan must consider defense, public finances and the economy in an integrated way. He said a strategy is needed that goes beyond simple spending increases, including steps tied to productivity gains such as investment in defense-sector startups. Nikkei said whether Japan’s “guns and butter” approach can become a sustainable growth model — or instead weaken another pillar of security by undermining fiscal health — is expected to come into clearer view during the planned revisions to the three security documents later this year. * This article has been translated by AI. 2026-04-29 15:46:30
  • Bank of Japan Holds Rate at 0.75% but Strengthens Signals of Future Hike
    Bank of Japan Holds Rate at 0.75% but Strengthens Signals of Future Hike The Bank of Japan on April 28 kept its benchmark interest rate unchanged at 0.75%, as rising inflation pressure collides with growing concern about an economic slowdown. Analysts said the BOJ is maintaining its tightening bias while weighing the timing of its next move. At an afternoon news conference, Gov. Kazuo Ueda said upside risks to inflation are larger, leaving room for a rate hike depending on conditions, while signaling caution about moving immediately. According to the Nikkei, the BOJ decided to maintain its target for the uncollateralized overnight call rate at 0.75%, marking a third straight hold since a rate increase last December. The decision reflected uncertainty as instability in the Middle East pushes up oil prices, potentially hitting both inflation and growth, the report said. The focus, Nikkei said, is not the direction of policy but the pace. Quoting a former BOJ policy board member, it described the decision as a “hawkish hold,” citing an upgraded inflation outlook and adjusted policy wording that more clearly points to future hikes. In its statement, the BOJ removed language referring to improvements in “economic and price conditions” and changed it to “depending on economic, price and financial conditions,” a shift that can be read as keeping the door open to hikes even during a slowdown. In its quarterly “Outlook for Economic Activity and Prices,” the BOJ raised its forecast for fiscal 2026 consumer price inflation to 2.8%, a sharp increase. It cut its real growth forecast to 0.5% from 1.0% projected in January, underscoring what the article called a dual squeeze of higher prices and weaker growth. Yomiuri Shimbun highlighted Ueda’s remarks that upside inflation risks are growing, saying the BOJ is placing greater weight on fighting inflation. Ueda also said he would avoid falling “behind the curve,” leaving open the possibility of an earlier hike if needed. Another notable development was a clearer split inside the BOJ. Three of the nine policy board members opposed holding rates and argued for a hike to 1.0%, a sign of shifting sentiment rather than a routine minority view, the article said. Asahi Shimbun called the internal divide a central issue, saying opposition driven by concern about inflation risks is expanding and altering the balance of views. It said calls for higher rates now include board member Nakagawa, described as a centrist, adding to pressure for a policy shift. Asahi also pointed to a structural dilemma: higher oil prices lift inflation but also weigh on growth, complicating the choice between raising rates and maintaining accommodation. It added that inflation may be becoming easier to sustain as price hikes by companies feed into wage gains. While the BOJ chose to hold, it sought to keep expectations of tightening intact. Nikkei said one reason for the hawkish signal was to prevent renewed yen weakness over the holiday period, recalling that after the April 2024 hold, Ueda’s news conference was interpreted as tolerating a weaker yen, followed by a sharp holiday slide and market intervention by currency authorities. Nikkei also said the BOJ is wary of market talk that a June hike would be difficult; if investors conclude that missing June means no July hike either, it could further weaken the yen. Overall, the article said, the decision was less a passive pause than a strategic wait for a coming hiking phase. With a higher inflation forecast, more internal dissent and Ueda’s hawkish comments, attention has shifted from whether the BOJ will hold to when it will raise rates. Middle East developments and oil prices remain the biggest variables, with the next meeting in June seen as the first key test.* This article has been translated by AI. 2026-04-28 17:57:44
  • Takaichi’s Fast-Track Leadership Meets Resistance in Japan’s Political System
    Takaichi’s Fast-Track Leadership Meets Resistance in Japan’s Political System What has the new political approach dubbed the “Takaichi style” produced in practice? There are clear cases where Takaichi’s top-down, fast-track decision-making has delivered results. A leading example was her immediate decision, soon after taking office, to abolish an additional gasoline tax that the ruling and opposition parties had agreed to end under the previous administration but repeatedly delayed. For many Japanese, it was a moment that made politics feel like it was moving again. But the approach has also brought setbacks. One prominent case was her November response in the Diet about a “survival-threatening situation in the event of a Taiwan contingency.” The Yomiuri Shimbun quoted a government official as saying the remark was an ad-lib not included in prepared materials, adding that “this wouldn’t have happened if there had been even a face-to-face review of answers with bureaucrats.” The official pointed to the abolition of the prime minister’s answer-prep sessions — a core element of the Takaichi style — as a direct cause. Even after voices within the Liberal Democratic Party urged her to contain the fallout, Takaichi did not retract the comment. The result, the article said, was that Chinese visitors to Japan fell to about half, and relations with China have continued to worsen. The pattern is not new: the article noted that when she served as internal affairs minister 10 years ago, controversy also grew after she said broadcasters that repeatedly violated political fairness could be ordered off the air, and she did not back down then either. Takaichi’s preference for refusing dinner gatherings and relying on documents has also strained ties with the party and the bureaucracy. In one example, LDP officials who visited to coordinate wording for the party’s 70th anniversary address said they were sent off after about 10 minutes, having heard only Takaichi’s brief instruction: “Please fix it like this.” During deliberations on the 2026 budget, one senior LDP figure said he had spoken directly with the prime minister about the budget only once. That communication gap has spilled into governance. Takaichi insisted the budget bill be passed within the fiscal year, but after pushing ahead without sufficient coordination with the party, it failed to clear the House of Councillors. The Nikkei said reliance on “the power of numbers” in running the Diet widened the distance between the prime minister’s office and the party and parliament. Relations with the bureaucracy have been similarly tense. Consumption tax cuts have long been opposed by the Finance Ministry over concerns about reduced revenue, and past prime ministers have typically adjusted their rhetoric after behind-the-scenes coordination. But in a February budget committee session, Takaichi said “some ministry” was spreading obstructive information in connection with discussions of a consumption tax cut — a remark the article described as an effective public rebuke of the Finance Ministry. Finance Ministry officials reacted with shock, asking whether she viewed them as resistance to the administration. A senior government official was quoted as saying that to build a long-running administration, the Finance Ministry, which controls the budget, must be made an ally, and that turning the entire bureaucracy into one team remains a task. Despite the side effects, the article said Takaichi has shown no sign of changing course. Instead, she has moved to tighten her grip within the party through personnel decisions. She sought to replace an LDP leader in the House of Councillors over responsibility for the failed budget passage and has repeatedly excluded lawmakers who challenged her from key posts. The Yomiuri said pressure is spreading within the party that even veterans will be treated coldly if they do not follow the prime minister’s line. The article said there is little open criticism inside the party. Rather, after factions were dissolved and groups reorganized, they are competing to draw closer to Takaichi. Her camp is said to be envisioning an uncontested re-election as LDP president in September next year, with no clear rival in sight. If she wins again and also prevails in the 2028 House of Councillors election, the article said, the possibility of long-term rule has been raised. Whether the “Takaichi style” becomes a new standard in Japanese politics or is forced to adjust under real-world constraints remains to be seen. * This article has been translated by AI. 2026-04-28 05:08:21
  • Japan’s Takaiichi reshapes prime minister’s routine with fewer dinners and more direct messaging
    Japan’s Takaiichi reshapes prime minister’s routine with fewer dinners and more direct messaging Prime Minister Sanae Takaiichi marked six months in office on the 21st, maintaining approval ratings above 60% in polls as Japan’s political routines shift quietly but noticeably. At the center is her governing style, often described as the “Takaiichi way.” At midday on the 10th, LDP Vice President Taro Aso, Secretary-General Shunichi Suzuki and Acting Secretary-General Koichi Hagiuda gathered at the prime minister’s office for a lunch Takaiichi arranged. The menu was a set meal of grilled fish. It was their first such meal in four months. Afterward, Aso told Takaiichi, “Even if it’s not dinner, let’s eat like this again. Why not meet lightly over lunch?” Yomiuri Shimbun reported the remark as a kind of urging, reflecting concern she could become isolated. For decades, Japanese prime ministers followed a familiar rhythm: work by day, dinners by night. Meals with business leaders, politicians and bureaucrats were used to trade information and build ties, giving rise to sayings such as “politics moves at night.” Takaiichi has largely broken with that pattern. Around 6 p.m., she typically returns to the official residence next to the prime minister’s office. She eats dinner with her husband, does household chores such as laundry, and reads Diet briefing papers and policy materials. Aides say she goes back with documents in hand, saying she must study for the next day. Asahi Shimbun calculated her average return time over six months at 7:21 p.m., with only nine outside dinners or informal gatherings. She also generally eats lunch alone and often skips meals, reportedly to secure time by herself. She has joked, according to Yomiuri, “If I eat with others, I can’t touch up my lipstick.” The changes extend beyond meals. Takaiichi ended the customary “advance review” of answers, in which prime ministers receive in-person briefings from secretaries and officials before Diet questioning. Instead, she reads materials herself and submits questions in writing when something is unclear. She also edits draft answers by hand and sends revisions by fax. She has sharply reduced the number of meetings she chairs, and in ministerial meetings she keeps remarks to a minimum, relying more on written submissions. Yomiuri described this as the “Takaiichi way”: keeping distance from Nagatacho’s traditional behind-the-scenes consensus-building culture and emphasizing rationality. Another hallmark is direct communication on social media. On the night of the 7th, Takaiichi posted on X about a phone call with the president of the United Arab Emirates within 10 minutes of the call ending. The government’s official announcement came about 30 minutes later. When concerns about naphtha supplies spread on social media, she posted directly to say it was a “misunderstanding.” Takaiichi has about 2.86 million followers on X, far more than former Prime Minister Shigeru Ishiba (520,000) and former Prime Minister Fumio Kishida (810,000). At the same time, she has held fewer news conferences. Over six months, she held eight formal news conferences. Ishiba and Kishida held news conferences each time budgets passed, but Takaiichi has favored brief, informal question-and-answer sessions with reporters gathered around her rather than formal news conferences. Asahi noted that unlike news conferences, where reporters can press with follow-up questions, social media is “one-way,” making it harder to probe what a leader truly means. Her communication style aligns with a more self-directed decision-making approach. In January, in the process that led to a decision to dissolve the House of Representatives, she did not consult in advance even with Aso, described as her biggest political backer. Soon after taking office, she also moved quickly to abolish an additional gasoline tax that the ruling and opposition parties had agreed on but the previous administration had delayed. Critics called the moves “arbitrary,” but both decisions ultimately coincided with high approval ratings. The contrast has been drawn with Ishiba, who, leading a minority ruling party, promoted “deliberation” but was criticized for indecision, while Takaiichi has been credited with “decisive politics.” Asahi, citing a source at the prime minister’s office, attributed the roots of her style to resentment from having long been treated as a “non-mainstream” figure within the LDP. First elected in 1993 as an independent, Takaiichi built her career without a local political machine or a political dynasty. The paper said her pride in forging a path in an era when female politicians were rare underpins her distance from established political customs. Takaiichi herself addressed the point in the Diet in February, saying calmly, “As you all know, I’m a woman who isn’t good at these dinner gatherings.” Rationality over custom, decisions over coordination, documents over face time: the “Takaiichi way” has presented a new model of prime minister. What it ultimately produces for Japanese politics remains the next test.* This article has been translated by AI. 2026-04-28 05:07:22
  • Japan’s Hokkaido Hit by Magnitude 6.2 Quake as Aftershock Advisory Nears End
    Japan’s Hokkaido Hit by Magnitude 6.2 Quake as Aftershock Advisory Nears End Seismic activity off Japan’s northeast coast is again drawing attention after a magnitude 6.2 earthquake struck Hokkaido early on the day an “aftershock advisory” issued following last week’s major quake was set to end. The Japan Meteorological Agency said the quake occurred at about 5:23 a.m. on April 27, centered in southern Tokachi in Hokkaido. It registered a maximum intensity of “upper 5” on Japan’s seismic intensity scale in Urahoro. The intensity scale reflects how strongly shaking is felt in a given area, unlike magnitude, which measures the energy released. An upper-5 reading can disrupt most people’s actions and topple unsecured furniture. The quake’s depth was about 83 kilometers (52 miles). No major damage had been confirmed as of the agency’s report, and Hokkaido Electric Power Co. said it had found no abnormalities at the Tomari nuclear power plant. The tremor came exactly one week after a magnitude 7.7 earthquake struck off Sanriku on April 20. After that quake, the Japanese government and the meteorological agency said the likelihood of another strong quake was higher than usual and issued an “aftershock advisory” for 182 municipalities across seven prefectures from Hokkaido to Chiba. The advisory is maintained for about a week, and the Hokkaido quake coincided with its scheduled end. The meteorological agency said the two quakes did not appear to be directly linked. “This earthquake does not appear to have a direct relationship with the April 20 earthquake,” it said at a news conference, adding that it was “not covered by the aftershock advisory.” The agency also warned that “for about the next week, caution is needed for earthquakes of a similar magnitude.” Japan introduced the aftershock advisory system after the 2011 Great East Japan Earthquake, when a magnitude 7.3 quake struck two days earlier. The system has been in operation since December 2022. It is issued when a magnitude 7-class or larger quake occurs in designated offshore areas such as the Japan Trench and the Kuril Trench, based on statistics showing the probability of a major quake within seven days rises from about 0.1% to about 1%. It is a probabilistic warning aimed at strengthening preparedness while maintaining daily life. Nikkei reported the latest advisory was the second, following one in December 2025, and said 182 areas expected to face shaking of at least “lower 6” intensity or a tsunami of 3 meters (about 10 feet) or higher were designated for disaster-response measures. The Pacific coast from Sanriku to Hokkaido sits on an active boundary where the Pacific Plate subducts beneath the landward plate, allowing stress to build until it is released in earthquakes. The Asahi Shimbun, citing a briefing by Tohoku University’s International Research Institute of Disaster Science, reported that earthquake swarms began around November last year off Sanriku and that a “slow slip” — gradual movement along the plate boundary — continued until just before the April 20 quake. Slow slip can ease deformation but can also add pressure to nearby faults. Tohoku University professor Fumiaki Tomita said the slow slip may have helped trigger the magnitude 7.7 quake, according to the report. Asahi also cited an analysis by a team led by Shizuoka Prefectural University specially appointed professor Kazuyoshi Nanjo, saying the “b-value,” a metric used to quantify earthquake patterns, has been particularly low offshore near Hokkaido. A low b-value is seen as a sign of stress accumulation and was reported to overlap with a decades-long “gap” zone where large quakes have not occurred. A similar tendency was observed off Sanriku before the 2011 disaster, the paper said. Asahi reported that Japan’s Headquarters for Earthquake Research Promotion said in December 2017 that it was “highly urgent” that a magnitude 8.8 or larger megaquake could occur in the region. The assessment was based on analyses of past tsunami deposits indicating such events recur on average every 340 to 380 years, and nearly 400 years have passed since the last one in the early 17th century. Asahi said two papers published in February supported that “urgency” with modern observational data, and that recent abstracts from universities and research institutions have included phrases such as “a state requiring caution continues” and “a recurrence may be imminent.” The newspaper said researchers refer to this centuries-long repetition of megaquakes as a “supercycle.” Asahi also cited a Tohoku University team’s five-year seafloor observations off Nemuro, saying the Pacific Plate and the upper plate were moving at nearly the same speed and direction and were strongly locked. The team said deformation accumulated since the early 17th-century megaquake may already have reached a level capable of producing a quake of similar size, concluding it should be considered “not strange no matter when it happens.” The report noted this is different in character from the “Nankai Trough megaquake,” a separate type of potential megaquake expected off Japan’s southeast coast. Even as warnings persist, public response remains a concern. Asahi said a Cabinet Office survey of 3,500 residents in advisory areas after the first advisory in December found 80% had seen the information, but only 8% said they had prepared to evacuate immediately. More than half took no action despite hearing the advisory, the paper said. Tohoku University professor Shosuke Sato, noting the start of the Golden Week holiday period, said there was no need to change travel plans but urged people to confirm evacuation sites at their destinations in advance. Misinformation also spread on social media, Asahi reported. It said that after the April 20 quake, videos filmed during the 2024 Noto Peninsula earthquake circulated on X, formerly Twitter, with captions claiming they showed “the moment the quake hit,” and tsunami footage from the 2011 disaster was also shared as if it were current. Posts also circulated an image that appeared to be generated by AI alongside an unfounded claim that “the likelihood of an aftershock is highest around 3 p.m. on the 21st.” Asahi said accounts posting the videos were based not only in Japan but also in South Asia, Europe and China, and many posts appeared to be automatic translations of foreign languages. The Yomiuri Shimbun reported that the Internal Affairs and Communications Ministry asked five major social media operators, including Google, Meta and X, on the day of the quake to take steps to prevent the spread of false information. Experts caution against treating any single quake as proof that a catastrophe is imminent, noting that earthquakes are inherently difficult to predict precisely in timing and size. Still, they say observational data indicate energy is building underground, and they urge people to begin preparedness now even without forecasting a specific date. * This article has been translated by AI. 2026-04-27 16:48:19
  • Denso Withdraws ROHM Buyout Bid as ROHM Moves Toward Toshiba-Mitsubishi Electric Alliance
    Denso Withdraws ROHM Buyout Bid as ROHM Moves Toward Toshiba-Mitsubishi Electric Alliance Denso’s bid to acquire ROHM, seen as a potential turning point in Japan’s reshaping of the power semiconductor sector, has fallen through. With ROHM opting to pursue a three-company alliance with Toshiba and Mitsubishi Electric, the center of gravity in the industry’s reorganization appears to be shifting away from being folded into an automaker group and toward consolidation among manufacturers. The Nikkei newspaper reported in its April 26 edition that Denso had sought to buy ROHM to prepare for the spread of electric vehicles but decided to withdraw after failing to win ROHM’s consent. Denso in February proposed buying all ROHM shares through a tender offer valued at about 1.3 trillion yen (about 12.1 trillion won). Denso had already secured about a 5% stake in ROHM and pursued cooperation in semiconductors, but it did not obtain control. ROHM, meanwhile, had been holding separate integration talks with Toshiba and Mitsubishi Electric. The three companies began discussions in March on combining their power semiconductor businesses, and ROHM’s decision increases the likelihood that the plan will move forward in earnest. A central issue is business balance and independence. ROHM has strengths in silicon carbide-based power semiconductors, a next-generation material, and Denso aimed to absorb that capability to quickly boost competitiveness. ROHM appears to have judged that becoming part of Denso could tilt its business toward automotive semiconductors and unsettle ties with other auto-parts makers that are existing customers. By contrast, a three-company alliance could serve a broader range of demand, including industrial, infrastructure and consumer electronics markets, enabling a more balanced growth strategy. The global competitive landscape also looms large. Europe’s Infineon Technologies and U.S.-based onsemi rank among market leaders, while Chinese companies are intensifying low-price competition. Most major Japanese players have market shares below 5%, underscoring limits to scale as standalone firms. Automakers are also accelerating in-house semiconductor efforts: Tesla and BYD are strengthening their own chip design, and Volkswagen is working with a Chinese company on vehicle system-on-chip development. Against mounting pressure on multiple fronts, the three-company plan reflects a push to gain strength through scale. Still, significant hurdles remain before any alliance becomes reality. One is persuading shareholders. ROHM shares rose into the 3,200-yen range on expectations of a Denso deal and have recently climbed into the 3,700-yen range. With the tender offer off the table, shareholders will focus on whether a three-way integration can deliver greater corporate value. With ROHM’s annual shareholders meeting set for June, confidence in management could also become an issue. ROHM executives voiced confidence. ROHM President Katsumi Azuma said the three-company alliance “can maximize shareholder value and surpass Denso’s proposal.” If ROHM’s SiC technology is combined with Toshiba’s broad customer base and Mitsubishi Electric’s strengths in high-voltage infrastructure, some have suggested the integrated power semiconductor business could be discussed as reaching the world’s No. 2 tier by revenue. Execution is another challenge. Integrating multiple companies can complicate decision-making and slow agreement on leadership. Toshiba and ROHM previously held cooperation talks that failed to take concrete shape, raising concerns that the latest effort could face similar setbacks. The collapse of Denso’s bid is being read as a signal that Japan’s power semiconductor industry is choosing horizontal consolidation among manufacturers over automaker-led vertical integration. Whether that choice translates into stronger competitiveness will depend on execution.* This article has been translated by AI. 2026-04-26 13:39:17
  • Nikkei briefly tops 60,000 for first time, then falls on profit-taking and oil worries
    Nikkei briefly tops 60,000 for first time, then falls on profit-taking and oil worries Japan’s Nikkei stock average briefly crossed 60,000 for the first time on April 23 but reversed to finish lower, as profit-taking after a sharp run-up combined with renewed worries over Middle East-driven oil volatility. The Nikkei fell for the first time in four sessions, closing down 445 points, or 0.75%, at 59,140.23 in Tokyo. It climbed as high as 60,013.98 intraday to set a record, then selling intensified and losses at one point neared 900 points. Nikkei reported the market opened higher on overseas short-term investors’ futures buying and strength in major semiconductor-related shares, helped by continued gains in U.S. tech stocks the previous session. Risk appetite also carried over after the Nasdaq and S&P 500 hit record highs on expectations of an extended cease-fire following U.S. and Israeli strikes on Iran. The Nikkei quickly cleared 60,000 early in the session. Analysts said money was increasingly concentrated in artificial intelligence and semiconductor names, while only about 20% of stocks on the Tokyo Stock Exchange’s Prime Market rose. The rally did not hold. Concerns about an overheated market and the burden of the recent surge triggered broad selling. Higher crude prices tied to Middle East tensions also weighed on sentiment. Reports that the U.S. Defense Department assessed it could take up to six months to clear mines in the Strait of Hormuz helped keep oil prices elevated, raising worries about pressure on corporate earnings. Losses narrowed late in the day after the Nikkei slipped below 59,000, prompting bargain hunting by overseas short-term funds and individual investors. The broader Topix index, which tracks all Tokyo Stock Exchange issues, fell 28.61 points, or 0.76%, to 3,716.38 for a third straight decline. Investors are increasingly viewing Japanese stocks as overheated in the short term, with the risk of bigger swings tied to oil and geopolitical factors.* This article has been translated by AI. 2026-04-23 21:52:38