Japanese trust products designed to allow gift tax exemptions for grandparents' donations to cover the educational costs of their grandchildren have enjoyed higher popularity than expected since their launch in April 2013.
The total amount of such donations put in trust is likely to top one trillion yen by the end of 2015, when the temporary tax exemptions expire, a top official at the Trust Companies Association in Japan said.
The Japanese government decided the tax exemptions for donations of up to 15 million yen for such education expenses as part of tax system reforms for fiscal 2013.
Masked assailants riding a motorbike shot and killed a Japanese man in northern Bangladesh on Saturday, police said, the second foreigner in a week to be gunned down in the South Asian country. (Japan Today)
Despite being trumpeted as ushering in a more efficient, egalitarian society, the government's controversial My Number system that starts with identification numbers being sent out to residents of Japan next week is raising serious qualms about invasion of privacy and leakage of personal information. (Japan Today)
Police arrested a former maintenance worker for Schindler Elevator KK on Saturday on suspicion of deliberately stopping one of the company's elevators near Tokyo and obstructing the company's business. (Japan Today)
A strong low-pressure storm with heavy winds and rains hit Japan from Thursday night to Friday, causing injuries, transportation disruptions, evacuations, blackouts and school closures mainly in the northernmost prefecture of Hokkaido. (Japan Today)