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Railways face glitz or safety option
Railways face glitz or safety option

New Indian Express

time4 days ago

  • Politics
  • New Indian Express

Railways face glitz or safety option

A fatal accident and a major project delay has reignited issues that have plagued the Indian Railways. Earlier this month, as many as 5 Mumbai commuters were killed when two overloaded trains travelling in opposite directions came dangerously close on a turn between two suburban stations. Those hanging out on footboards brushed each other and many fell off. In an unrelated development, three giant-sized tunnel boring machines (TBMs), on order to drill an underground route for a 21-kilometre stretch of the Mumbai-Ahmedabad high-speed rail corridor, have been held up at a Chinese port. The ground breaking ceremony for the project was performed way back in September 2017 by Prime Minister Modi and then Japanese PM Shinzo Abe. However, issues mainly related to land acquisition have slowed the project. Now, the TBMs have added to the delay. Built in Guangzhou, China by German tunnelling specialist Herrenknecht, they were to reach India by October 2024, but clearance from the Chinese authorities has not come. Meanwhile, project cost has almost doubled to Rs 1.08 lakh crore, and completion of the new rail corridor has been pushed back to 2029. The massive Mumbai suburban train accident, and the lack of funds for improving safety, on the one hand, while huge funds are allocated to what P Chidambaram called 'vanity projects' like the Bullet Train', is triggering serious debate. Mumbai's death trap It is indeed a scandal that Mumbai's rail network has become a death trap. Suburban rail accident figures show 51,802 people died in accidents over two decades from 2005 to 2024 – an unacceptable 7 deaths every day.

Editorial: Japan gov't must reflect on illegal reduction of welfare benefits, make amends
Editorial: Japan gov't must reflect on illegal reduction of welfare benefits, make amends

The Mainichi

time5 days ago

  • Politics
  • The Mainichi

Editorial: Japan gov't must reflect on illegal reduction of welfare benefits, make amends

The Japanese Supreme Court ruled June 27 that the Ministry of Health, Labor and Welfare's decision to reduce welfare payments between 2013 and 2015 was illegal. The ministry had cut "living assistance" -- funds for daily expenses such as food and utilities -- by up to 10%, significantly impacting recipients' lives. The welfare system is a crucial lifeline that guarantees a minimum standard of living for people. The latest judicial decision harshly criticizes the state for disregarding this principle. The key issue was the validity of the government's method for calculating the reduced payment amounts. The welfare ministry based its decision on prolonged deflation and used price fluctuation rates as a benchmark. However, the declining prices of TVs, computers and other items that are infrequently purchased were used to calculate the rates. Welfare recipients argued that the reductions did not reflect their actual living conditions and were excessive. The court ruled that reducing the standard amount of living assistance solely based on price fluctuation rates constituted an abuse of discretion. There was no precedent of payment adjustments based solely on price changes, and the welfare ministry's decision did not involve consultation with experts. The ministry must take this ruling seriously. As of April 2013, more than 2 million people were on welfare. The decision to reduce people's benefits affected even those who did not join in the lawsuit, and the government must promptly compensate them for the unjust reductions. It cannot be overlooked that this measure was implemented amid a growing backlash online and elsewhere against welfare recipients. The ruling Liberal Democratic Party pledged a 10% reduction in benefit levels in principle in its 2012 House of Representatives election manifesto, and the cuts were executed under the second administration of then Prime Minister Shinzo Abe. The ministry's approach appears to have been predetermined and forceful. It cannot be denied that they lacked the self-awareness expected of a governmental body tasked with protecting people's lives. A thorough examination of the decision-making process is essential. Welfare payments are not "handouts" for those in need but the foundation for a society where all people can live with a sense of security. Anyone can lose their foundation of livelihood due to illness or accidents. It is said that only 20-30% of eligible individuals actually utilize the welfare benefit system, indicating that the safety net is not functioning sufficiently. There is also a social stigma surrounding welfare, making recipients feel ashamed. The government's aggressive reductions may have exacerbated prejudices against those on welfare. The Japanese government must deeply reflect and create an environment where those who need the welfare system can use it with peace of mind.

Japan firms face record activist shareholder proposals, raising reform pressure
Japan firms face record activist shareholder proposals, raising reform pressure

Reuters

time19-06-2025

  • Business
  • Reuters

Japan firms face record activist shareholder proposals, raising reform pressure

TOKYO, June 20 (Reuters) - Activist investors submitted shareholder proposals to a record number of Japanese companies holding annual general meetings in June, adding to pressure on firms not used to friction to improve shareholder returns and profitability. Since former prime minister Shinzo Abe, who stepped down in 2020, called for improved governance to attract foreign capital, activists have ramped up efforts, arguing Japanese stocks are undervalued and that companies allocate capital inefficiently. Over 2,000 firms hold shareholder meetings in June, of which 52 have received activist proposals, surpassing last year's record of 46, showed data from Mitsubishi UFJ Trust and Banking. That is more than four times the 12 companies that received proposals in 2018 and 2019 toward the end of Abe's tenure. Typically most proposals by activists and engagement funds are rejected. Still, some firms have subsequently introduced plans to increase returns even after unsuccessful votes. "There's no need to despair. Even if a proposal is rejected management may continue to consider it," said strategist Nozomi Moriya at UBS Securities. "I think it's important to look at corporate action over the long run." There is also an increasing number of cases in which firms adopt activist suggestions - in part or in full - in advance, to avoid a public proposal and any embarrassment to management that might bring. "It's not that we expect to win our AGM proposals, a lot of them now get withdrawn before the meetings take place" said Paul ffolkes Davis, chairman of Rising Sun Management, an activist investment advisor to the Nippon Active Value Fund. "The fact that we've never won one publicly doesn't mean to say we've never won one privately. Portfolio companies are engaging with us and acting on our suggestions more and more," Davis said. The Tokyo Stock Exchange in January last year began publishing a list of firms that have disclosed plans to improve capital allocation and corporate value, a move widely seen as naming and shaming those that fail to disclose such plans. Starting this year, the bourse under CEO Hiromi Yamaji plans to highlight companies who have sought dialogue with investors. "The greatest of all the Japanese activists is Mr. Yamaji," said Davis. Companies used to only seek help after activists publicised their proposals. Now they commonly reach out after the first or second private approach, said Hiroo Shimoda, senior manager at Mitsubishi UFJ Trust Bank's corporate consulting division. "Before it was as though we were putting out fires after they had started. Now it's more like we're doing preventative fire-proofing work," Shimoda said. Since last year, the trust bank has expanded its advisory business for private activist engagement, including how to respond to approaches and whether disclosure is necessary. Investors more broadly point to greater openness by Japanese management to discussing strategy. "In the past we wouldn't really get access to management. Now, we're meeting entire boards in the majority of our portfolio names," said Joe Bauernfreund, chief executive of London-based Asset Value Investors. "There are still so many undervalued companies in Japan, which means we've got our work cut out for us over the next few years."

Tokyo police wary of lone-wolf attacks as election campaigning begins
Tokyo police wary of lone-wolf attacks as election campaigning begins

Japan Today

time15-06-2025

  • Politics
  • Japan Today

Tokyo police wary of lone-wolf attacks as election campaigning begins

Police keep watch during a campaign speech in Tokyo in the House of Representatives election in October 2024. Campaigning began Friday for the Tokyo metropolitan assembly election, with the capital's police stepping up measures to thwart possible lone-wolf attacks after incidents involving notable politicians in recent years. Top politicians are set to converge on Tokyo for a close contest seen as a bellwether for the national House of Councillors election this summer, in which the ruling Liberal Democratic Party is expected to struggle. "We are mobilizing the organization's full strength. We cannot create conditions that allow for the 'unexpected,'" a senior official of the Metropolitan Police Department said. Stump speeches are a mainstay of Japanese elections, offering candidates a chance to get their message across and granting voters opportunities to meet their potential representatives. Politicians have been targeted while campaigning in recent years, with former Prime Minister Shinzo Abe fatally shot during a stump speech in the city of Nara before the 2022 House of Councillors election. During an election-related appearance in Wakayama, also in western Japan, in 2023, an explosive device was hurled toward then Prime Minister Fumio Kishida. More recently, a man tried to attack Prime Minister Shigeru Ishiba's office and the LDP's headquarters while the premier was away campaigning for last October's House of Representatives election. The suspects charged in all of the cases are believed to have acted alone. Since the Abe and Kishida incidents, police have urged campaign organizers to step up security. The senior police official said it is becoming standard for members of the public to face inspections such as bag checks at stump speeches and people have become more cooperative since the high-profile incidents. To ensure security during campaigning in the capital, Tokyo police created a section in April to identify potential lone-wolf attackers by monitoring social media and collating information from other departments. Police also reached agreements with three real estate industry groups in May for the sharing of information about suspicious noises and odors in buildings, after cases in which assailants manufactured weapons and explosives in their apartments. The police will also approach individuals loitering near locations where politicians are scheduled to appear, the official said, adding, "Anyone engaging in suspicious activity will be questioned and asked to have their belongings checked." © KYODO

Japan Eyes Registration System for Rural Areas' Connected Population

time15-06-2025

  • Politics

Japan Eyes Registration System for Rural Areas' Connected Population

News from Japan Society Jun 15, 2025 16:09 (JST) Tokyo, June 15 (Jiji Press)--The Japanese government plans to create a registration system linking local governments with the so-called connected population, or nonresidents who steadily interact with regional areas, as part of efforts to revitalize rural communities. The system, under which people will register their links to municipalities using a smartphone app, is aimed encouraging people living in urban areas to play active roles in rural communities amid the shrinking population. Japan launched regional revitalization efforts in 2014 under then Prime Minister Shinzo Abe to halt its population decline, as well as promote migration to rural areas in order to address the overconcentration of people in the Tokyo area. But getting people to move has proven difficult, so some local governments have taken measures aimed at increasing the number of people who do not migrate but are more deeply involved in areas than tourists. Hida, Gifu Prefecture, central Japan, launched a fan club for the city in 2017. Members receive discounts at local stores and hotels. [Copyright The Jiji Press, Ltd.] Jiji Press

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