Latest news with #Kofu
Japan Times
08-07-2025
- Business
- Japan Times
Rural bank in Japan finds novel way to attract talent with higher pay
A talent shortage in Japan's financial industry is becoming so acute that even the biggest banks are struggling to find experienced people. It's tougher still for regional lenders that can't pay enough to lure market veterans away from Tokyo. One rural bank has come up with a creative way to deal with the problem. Yamanashi Chuo Bank has set up an "investment advisory firm' to get around internal salary limits and attract talent to manage its ¥1.1 trillion ($7.6 billion) securities portfolio, said Yoshiaki Furuya, president of the lender. Japanese banks tend to structure compensation plans in a way that makes it difficult to give outsized pay to specific employees. By establishing an in-house company to avoid such constraints, it shows the lengths that a bank like Yamanashi Chuo is taking to bolster its ranks in a market where expertise is running short. "It's very important to secure good market talent,' Furuya said in an interview at the bank's headquarters in Kofu, about a 90-minute train ride from central Tokyo. "We can raise the level by using an evaluation system different from the bank's.' While the compensation may still be smaller than that of big rivals, it's higher than what the lender would ordinarily pay, Furuya said. The advisory firm, which started operating last year, currently has two employees who are giving advice on how the bank should invest a portion of its securities portfolio. In Japan, even small regional banks put billions of dollars into securities like Japanese government bonds and stocks to manage deposit money not used for lending. Furuya said the importance of its market operation is increasing as a profit driver. Furuya said his bank is planning to let the firm take charge of more of its assets, and its headcount will increase in line with that process as it hires more. He didn't give specific numbers for hiring because it depends on how the business works out. It's also seeking to win investment advisory work from outside, such as other banks and nonfinancial corporations, he added. According to Furuya, the bank could have its markets team sitting in Tokyo instead of Kofu — a scenic basin known for its vineyards and views of Mount Fuji — but that would increase the risk of employees leaving for other firms, given the abundance of job opportunities in the capital. Traditionally made up of lifetime employees, local banks are starting to see a greater need for outside specialists who can navigate volatile markets for assets such as JGBs. After being held near zero for years by the central bank, yields on Japan's government debt have shot up, making it difficult for banks to determine when to start buying the bonds. Furuya said Yamanashi Chuo is cautiously waiting for the right time to purchase long-dated notes, which have been under pressure this year. While its JGB holdings more than doubled in the fiscal year ended in March, it mostly bought shorter tenors such as two-year notes, he said. "Building up a portfolio from a long-term perspective to generate stable revenues while avoiding paper losses — it sounds very simple, but it's a challenge,' he said.
NHK
18-06-2025
- Climate
- NHK
Heatwave to persist over much of Japan, raising heatstroke risk
An intense heatwave is expected to persist over wide areas of Japan on Wednesday with the mercury likely to hit 35 degrees Celsius or higher. People are advised to take precautions against heatstroke. The Japan Meteorological Agency says temperatures soared in many parts of the country on Tuesday, with daytime highs reaching 38.2 degrees in Kofu City, 37.7 degrees in Takasaki and 37.6 degrees in Shizuoka. The agency forecasts that much of Japan is set to experience hot weather again on Wednesday. Daytime highs are expected to climb to 37 degrees in the cities of Nagoya and Gifu and 36 degrees in Kyoto, Kofu and Kumagaya. Heatstroke alerts have been issued for the prefectures of Yamanashi, Aichi, Mie, Wakayama and Fukuoka. On Tuesday, a number of people were taken to hospitals with suspected heatstroke. Some deaths were also reported. People are advised to use air conditioners as needed, take liquids and salt and rest frequently during outdoor activities. Extremely unstable atmospheric conditions are forecast mainly in eastern Japan after Wednesday afternoon, possibly causing localized downpours. The agency is calling for caution against flooding in low-lying areas, swollen rivers, mudslides, lightning strikes, hail and strong gusts such as tornadoes.
Japan Times
17-06-2025
- Climate
- Japan Times
Japan sweats under extreme heat despite ongoing rainy season
Much of eastern Japan and the Pacific side of the Tohoku region experienced extreme heat on Tuesday, with temperatures soaring above 35 degrees Celsius in many areas, the Meteorological Agency said. The agency warned of heat waves throughout the week as a high-pressure system stretches across eastern and northern Japan. By Tuesday afternoon, the city of Kofu in Yamanashi Prefecture recorded a temperature of 38.2 C, while the mercury hit 37.7 C in the city of Takasaki in Gunma Prefecture, 37.6 C in the city of Shizuoka, and 36.8 C in Hachioji in Tokyo. 'Heatstroke alerts have been issued for Ibaraki, Chiba, Wakayama, Kagoshima, and Okinawa prefectures, with extremely dangerous heat expected. Please take thorough precautions against the heat,' Kentaro Araki, a researcher at the Meteorological Agency, posted on X. In Tokyo, it was the first time this year that the temperature rose above 35 C, which the agency designates as an 'extremely hot' day. The heatstroke alerts urge people to stay indoors, avoid nonessential outings and remain hydrated. Authorities called on people to turn on their air conditioners, especially for older adults and infants as they are the most vulnerable to heatstroke. They also urged schools, businesses and event organizers to take precautions or cancel outdoor activities. Users on X agonized over the extreme heat, likening it to 'hell.' '37°C ... I can't live (with it),' one post read. The heat comes just a week after the start of the rainy season was announced on June 10 in the Kanto-Koshin region. The Tohoku region entered the rainy season on Saturday. While the rainy season has yet to end in many regions, the persistent sun and stifling temperatures have made it feel as though the country is already midway through summer. Everyone is keen to escape the heat. Products such as parasols and cooling sprays are selling briskly while energy-saving air conditioners are seeing increased demand. At the Hands Shinjuku store, UV protection items like parasols and arm covers were promoted in March — one month earlier than last year — in anticipation of an earlier onset of extreme heat. Sales of related items from May 16 through Sunday grew about 1.4 times compared to the previous year. At electronics retailer Bic Camera, sales of air conditioners during the week starting June 9 increased by nearly 20% from the previous week, with energy-efficient models proving particularly popular. Information from Jiji added
