Japanese ship returns after taking 25 fin whales in Sea of Okhotsk
About 320 metric tons of fin whale meat were unloaded at Sendai port in Miyagi Prefecture on Monday, with some 1.6 tons set to be transported to six markets across the country including Tokyo and Osaka as raw meat. The ship departed Shimonoseki port in the western Japanese prefecture of Yamaguchi on April 21.
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Japan Today
41 minutes ago
- Japan Today
Nikkei likely to stay above 40,000 despite political uncertainty
A financial data monitor in Tokyo shows the Nikkei Stock Average climbing above 42,000 on July 24, 2025. (Kyodo) ==Kyodo By Risako Nakanishi Boosted by a Japan-U.S. trade deal, the Nikkei stock index is expected to stay afloat above the 40,000 threshold at least for a while, despite political uncertainty created by the major setback suffered by Japan's ruling parties in a recent national election. The benchmark may soon break its record high by surpassing 42,224.02 registered a year ago, but the market could face a downside risk if long-term interest rates surge further due to expectations of expansionary fiscal measures like a consumption tax cut. "With uncertainty over tariff negotiations dispelled, it makes it easier for companies to foresee future earnings, helping to support the stock market," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co. The Nikkei added more than 2,000 points over the two days through Thursday after the agreement that U.S. tariffs on imported Japanese cars and other goods will be lowered sharply to 15 percent, although the yield on the key 10-year government bond spiked to 1.600 percent, its highest level since 2008. "As long as higher interest rates are accompanied by improving business performance, stocks will rise as seen in the past," Sawada said, expecting the index to be supported around the 40,000 line. The market is likely to be buoyed by hopes for upward revisions in earnings after some major companies like Toyota Motor Co. projected a hefty 35 percent drop in net profit for this fiscal year by factoring in an additional 25 percent tariff imposed by Washington from April. Trade data show that Japan's shipments to the United States, the largest export destination for Japanese automakers, dropped 11.4 percent in value terms in June from a year earlier for the third consecutive monthly decline, contributing to a 30.8 percent plunge in its trade surplus with the country. "Stocks may be further lifted by positive incentives like more U.S. trade deals with the European Union and China, as well as economic data and earnings," possibly sending the Nikkei to the 44,000 level at one point, said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank. While many analysts believe the current level of long-term interest rates at around 1.6 percent is unlikely to be an obstacle for stocks to chase higher ground, a spike toward 2 percent may stir concerns about increased borrowing costs and dent market sentiment. Situations surrounding the bond market suggest the likelihood of the yield climbing further, as the Japan-U.S. trade deal helped ease concern about the prospects of the domestic economy and will make it easier for the Bank of Japan to further raise interest rates. The tariff deal is a "big step forward," as it reduces economic uncertainty facing Japanese companies under U.S. President Donald Trump's trade policy, BOJ Deputy Governor Shinichi Uchida said Wednesday. His remark fueled speculation that the central bank will increase the policy rate again after raising it three times since March last year to around 0.50 percent, as it shifts from a decade of unorthodox monetary easing. "Given that the tariff negotiations ended up with a desirable agreement despite expectations of tough going, the recession risk in the second half of this year has alleviated considerably," said Daiju Aoki, chief Japan economist at UBS SuMi TRUST Wealth Management Co. "Japan's interest rates are likely to remain elevated with the probability of a rate hike by the end of year increasing significantly," Aoki said, adding that investors will adopt a cautious stance about buying bonds, whose prices move inversely to yields. Reflecting expectations for weakening demand, the auction for 40-year government bonds held Wednesday was sluggish, with the bid-to-cover ratio standing at 2.13 percent, its lowest level since 2011. Higher yields also followed on from the results of Sunday's House of Councillors election, which raised the possibility that expansionary fiscal measures may be adopted in the future, leading to further deterioration in Japan's fiscal health. The Liberal Democratic Party and its coalition partner Komeito suffered a major setback in the election, losing their majority in the upper house, with opposition forces urging that the consumption tax be cut, suspended, or even abolished to ease the pain of inflation. The ruling coalition, meanwhile, pledged to deliver cash handouts, which are likely to require fewer financial resources. "Currently the key long-term yield remains at around 1.6 percent, as there have not been specific moves leading to stimulus measures such as reducing the consumption tax," said Yutaka Miura, senior technical analyst at Mizuho Securities Co. "But if such moves come into sight, such as opposition parties starting to request such measures, the yield could climb further," he said, adding that it could affect negatively to the stock market if it rises to between 1.7 and 1.8 percent. © KYODO
The Mainichi
an hour ago
- The Mainichi
Kirin launches 20-yr whisky aging service for life milestones
TOKYO (Kyodo) -- A new service launched by Kirin Brewery Co. lets customers purchase malt whisky at key life moments and age it for 20 years, offering tasting samples along the way to experience the flavor's evolution. The initial offering, launched June 6 on the crowdfunding platform Makuake, sold out the same day. The major Japanese brewer hopes to roll out the service on a larger scale next year. The full package, priced at 110,000 yen ($745), ages whisky in barrels at a distillery in Gotemba, Shizuoka Prefecture, near Mt. Fuji. Customers receive six 100-milliliter samples over the years, with a final 700-milliliter bottle delivered after two decades. Customers also have the option of enclosing a letter to their future selves or children, turning the experience into a time capsule. "We hope people will enjoy the way whisky matures alongside their own lives and those of their families," said Kyosuke Kojima, the 34-year-old Kirin Brewery employee behind the project.
Yomiuri Shimbun
2 hours ago
- Yomiuri Shimbun
Fiscal Confidence: Warnings from the Market Must be Taken Seriously
The ruling and opposition parties should recognize that the era when tax and fiscal policies could be implemented without much concern for the cost of interest payments on debts is over. Under the new power balance in the Diet, they must cooperate on responsible policies. As a result of the House of Councillors election, the ruling coalition of the Liberal Democratic Party and Komeito has become a minority in both houses of the Diet. Therefore, the opposition parties, which have advocated such measures as consumption tax cuts, are expected to intensify their offensive, and there is a growing sense of caution in the market over fiscal deterioration. The fact that Japanese government bonds are being sold off, causing long-term interest rates to rise, may be a sign of this concern. The rate surged to 1.605% on July 25 — the highest level in about 17 years. During the 'lost 30 years' when the Japanese economy was stagnant for a prolonged period, wages and prices did not rise, and ultra-low interest rates were the norm. This likely helped keep interest payments on government bonds from rising and contributed to more relaxed fiscal discipline. However, the Bank of Japan ended its large-scale monetary easing policy in spring last year and has reduced its purchases of government bonds. Now the government is trying to shift to an economy where wages and investment both rise to bring the economy out of its prolonged stagnation. Amid such changes, the total amount of outstanding government bonds has reached about ¥1.1 quadrillion. If fiscal confidence continues to be neglected and thereby long-term interest rates rise, the risk of ballooning interest payments will also increase. The ruling and opposition parties will surely have to take the changes of the times and warnings from the market seriously. Regardless, under the new Diet power balance, tax cuts are likely to become the central focus of debate. Opposition parties aim to abolish the provisional gasoline tax rate and are considering submitting a bill to the extraordinary Diet session to be convened on Aug. 1. In the last ordinary Diet session, a bill submitted by opposition parties to abolish the provisional gasoline tax rate was passed in the House of Representatives. However, in the upper house, where the ruling parties held a majority, the bill was not put to a vote and was scrapped. Completely removing the provisional gasoline tax rate would result in an annual reduction of ¥1.5 trillion in tax revenue for the central and local governments. How would the shortfall be covered? In addition, if the price of gasoline drops and consumption increases, it would run counter to the trend of decarbonization. There is likely to be intense debate over consumption tax cuts and cash handouts as measures against high prices. Tax cuts themselves are likely to be welcomed by many people, as they would ease the burden on household budgets. However, it would be irresponsible for the opposition parties to focus solely on the benefits. If they also factor in the burdens associated with the cuts, the public response is unlikely to be entirely positive. Consumption tax is a core revenue source for supporting the social security system, which includes pensions and medical care. Unless revenue sources are secured, cuts to social security services will be inevitable. Relying on government bond issuance passes the bill along to younger generations. If the future grows more uncertain, consumption will not be stimulated. The ruling and opposition parties should face these issues squarely and deepen discussions. (From The Yomiuri Shimbun, July 26, 2025)
