Mizuho Raises Long-Term Prime Rate to 3%

TOKYO, Apr 09 (News On Japan) - Mizuho Bank announced on April 9th that it will raise its long-term prime rate, a benchmark for corporate lending, by 0.2 percentage points to 3% annually, reflecting the recent upward trend in interest rates, with the change set to take effect on April 10th.

The move marks the first time in approximately 29 years that the long-term prime rate has reached the 3% range, signaling a significant shift in Japan’s lending environment as borrowing costs continue to rise.

Source: テレ東BIZ

New Shinkansen Reservation Service Lets Users Book in One Minute

JR East has launched a preview version of its new online Shinkansen booking platform, JRE GO, promising reservations in as little as one minute and easier handling of sudden schedule changes.

Father Claimed Son Was Missing Before Disappearance

A 37-year-old father arrested over the alleged abandonment of his son's body in a forest in Kyoto Prefecture may have contacted associates to say the child had gone missing before the boy's school informed the family, investigators said.

Bear Found in Bushes in Central Sendai Finally Culled

A bear that had remained in a residential area in central Sendai since early Sunday morning was euthanized last night in an emergency cull. No injuries were reported.

Father Admits Killing and Body Abandonment in Kyoto

Police investigating the death of an 11-year-old boy whose body was found in a forest in Kyoto Prefecture believe his father moved the remains between several locations over a number of days in an apparent attempt to conceal the crime.

Strong Typhoon Raises High Surf Risk for Pacific Areas of Japan This Weekend

A large and powerful Typhoon No. 4, internationally named Sinlaku, was located near the Mariana Islands and moving north-northeast as of the latest update. The storm is expected to gradually shift its course eastward and pass southeast of the Ogasawara Islands around April 18, before making its closest approach around April 19.

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Japan Homes May Rise 30%

A shortage of naphtha, a key petrochemical feedstock used in a wide range of products, is pushing up the cost of housing materials in Japan and raising concerns that home prices could climb by as much as 30%.

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TOTO to Resume Orders for Unit Baths from April 20

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As tensions in the Middle East continue, 42 vessels linked to Japan remain stranded in the Persian Gulf, raising concerns over supply chains for naphtha, a key raw material used in plastics and coatings, with manufacturers warning that prolonged disruptions could drive up prices for everyday goods and housing materials.

Japan Painting Association Warns of Shortages

The Japan Painting Contractors Association has requested the government to secure stable supplies of materials, warning that concerns over shortages of paint and thinner derived from naphtha have become increasingly severe.

Japan Long-Term Interest Rates Hit 29-Year High

Crude oil futures surged sharply as concerns over supply disruptions intensified amid renewed uncertainty surrounding the situation in Iran, pushing prices above $105 per barrel on April 12th and driving Japan long-term interest rates—represented by the benchmark 10-year government bond yield—to their highest levels in nearly three decades.

BOJ Governor Ueda Warns of Rising Oil Prices

Bank of Japan Governor Kazuo Ueda warned on April 14th that rising crude oil prices driven by escalating tensions in the Middle East could act as a drag on Japan’s economy, signaling growing concern within the central bank over external cost pressures.

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