Japan's National Police Agency revealed on May 16 that the amount of money lost to impersonation investment scams on social media totaled 21.9 billion yen in just three months from January to March this year.
The president and seven employees of The Grand Shield, previously featured in Japanese media due to financial troubles with dental braces, have been arrested for selling high-yield bonds without registration, promising annual returns of 20%. It is believed that two women among the suspects collected 4.6 billion yen alone.
Japan's real GDP growth rate for the first quarter of this year, from January to March, was announced by the Cabinet Office to be an annualized minus 2.0%.
Businessman Yusaku Maezawa has filed a lawsuit against Meta, the company operating Facebook, seeking 1 yen in damages in response to a series of investment scams involving impersonation of famous personalities on social media.
As the Japanese government begins discussions on the basic policies for its energy strategy, Tokyo Electric Power Company (TEPCO) has constructed a new substation and other infrastructure in Inzai City, Chiba Prefecture, to address the increasing power consumption of data centers.
Honda Motor says it will invest 10 trillion yen or roughly 65 billion dollars in electric vehicles and software for self-driving technology through fiscal 2030. (NHK)