News On Japan

Toyota Global Sales Fall 6.4% in August as China Market Slumps

TOKYO - Toyota Motor's global vehicle sales fell 6.4% from a year earlier to 790,743 units in August, marking the second consecutive month of year-on-year declines as high gasoline prices linked to the Middle East crisis continued to weigh on demand for gasoline-powered vehicles in China.

The automaker announced the August figures on September 29, with weakness in the Chinese market remaining a major drag on its worldwide sales.

Gasoline prices have risen sharply following the crisis in the Middle East, prompting Chinese consumers to increasingly avoid conventional gasoline-powered vehicles and adding to pressure on Toyota in the world's largest automobile market.

Toyota's domestic production also declined in August, falling 1.7% from a year earlier to 204,487 vehicles. It was the first year-on-year decrease in four months.

The decline in Japanese production reflected temporary factory shutdowns caused by the Kumamoto earthquake and typhoons, which disrupted operations at some of the automaker's plants.

Source: テレ東BIZ

News On Japan
POPULAR NEWS

A fire broke out at a factory handling waste plastic in Nara City on October 13, sending thick black smoke into the air and prompting the dispatch of 12 fire engines after firefighters received an emergency call shortly before 3:30 p.m. from a factory representative reporting smoke rising from inside the building, with all workers safely evacuated and no injuries reported.

Prime Minister Sanae Takaichi delivered an unusually harsh rebuke of Agriculture, Forestry and Fisheries Minister Kazuo Yana on October 13, describing his claims about cutting road budgets in areas that failed to support him as "inappropriate" and "really lame," while signaling that she would reconsider whether he should remain in office as opposition lawmakers intensified their demands for his dismissal.

Japan is facing a growing wave of cyberattacks as advances in artificial intelligence remove the language barrier that once made Japanese companies difficult targets for overseas hackers, with more than 68 million personal records potentially exposed in a series of security incidents over the past two weeks.

Japan is expected to experience a warmer-than-normal winter as the El Nino phenomenon currently affecting the Pacific Ocean has reached its strongest level on record, with the Japan Meteorological Agency announcing on October 10th that unusually high sea surface temperatures are likely to persist through the coming winter months.

The Otsu Festival, one of Shiga Prefecture's three major traditional festivals, was held in Otsu City on October 11th, featuring a procession of 13 elaborately decorated floats carrying traditional mechanical puppets through the streets, following the festival's addition to UNESCO's Intangible Cultural Heritage list in December last year.

MEDIA CHANNELS
         

MORE Business NEWS

East Japan Railway (JR East) is preparing to enter Japan's fiercely competitive mobile payment market with the launch of teppay on October 20, introducing a new QR code payment service through its Mobile Suica platform and potentially tapping into a customer base of 45 million Suica users.

Japan's domestic corporate goods price index rose 6.8% in September from a year earlier, slowing to below 7% for the first time in four months but remaining at a high level as soaring crude oil prices and growing demand for AI-related materials continued to push up costs, according to data released by the Bank of Japan on October 13.

Tokyo stocks fell sharply on October 13, with the Nikkei 225 closing at 67,778, down 1,253 points, as selling in artificial intelligence and semiconductor-related shares dragged the headline index below 68,000 after a three-day holiday weekend.

Japan's transition away from decades of ultra-low interest rates is placing increasing financial pressure on students, homeowners and property investors, with some university graduates facing more than 1 million yen in additional student loan repayments while rising mortgage costs and record-high apartment prices threaten to slow the country's property market.

Japan is stepping up efforts to reduce its dependence on China for essential medicines and rare earth minerals, with pharmaceutical giant Meiji Seika Pharma working to restart domestic penicillin production after more than three decades and a government-backed research project achieving a breakthrough in extracting rare earth-rich mud from the seabed near Minamitorishima Island.

Corporate bankruptcies caused by labor shortages in Japan reached a record 240 cases in the first half of the current fiscal year, highlighting the growing financial strain on small businesses as Prime Minister Sanae Takaichi pledges to protect household livelihoods through economic growth while pursuing consumption tax cuts that could place additional pressure on the restaurant industry.

Tokyo stocks fell sharply on June 26 as investors locked in profits from Japan’s record-setting AI-driven rally, with SoftBank Group and chip-related shares leading a broad retreat after reports that OpenAI may delay its initial public offering.

Japan recorded a current account surplus of 4.062 trillion yen in August, an increase of 12% from a year earlier, driven primarily by a sharp rise in income from overseas investments, even as higher crude oil prices pushed the country's trade balance into deficit.