Sumitomo Mitsui and Mizuho to end lending for new coal-fired plants
Japan Times -- Apr 17
Sumitomo Mitsui Financial Group Inc. said Thursday it would no longer lend to new coal-fired power plants from May 1, a day after peer Mizuho Financial Group Inc. said it would stop financing new power projects involving the fossil fuel.
The policy change comes as the sector faces pressure from activist investors and environmental groups to help mitigate climate change.
SMFG said in a statement that the movement toward decarbonization has been progressing globally since the Paris climate accord and that it “would not provide financial support in principle to new coal-fired power plants.â€
Japanese banks are among the few major lenders who have stuck to backing coal projects even as other banks worldwide cut their exposure to the fuel.
The nation’s three major banks, SMFG, Mizuho and Mitsubishi UFJ Financial Group, have been among the world’s top five lenders to the coal power and mining industries over the past five years, according to Refinitiv SDC Platinum data.
Mizuho said Wednesday it would halve its ¥300 billion ($2.8 billion) in loans to coal power projects by 2030 and then to zero by 2050. It will also abolish new investments in and loans to construction projects for coal-fired plants with high carbon dioxide emissions effective June 1.
Japan embraces Web3 while other countries are hesitant
bollyinside.com - Jan 28
Web3 promotion continues to be a cornerstone of Japan’s national strategy as lawmakers and regulators from the U.S. to Europe to Asia voice growing caution regarding cryptocurrencies.
Japan launches whale meat vending machines
WION - Jan 28
Japan firm launched a whale meat vending machines to push sales. He is selling whale meat cans at prices from 1,000 yen to 3,000 yen.
Toyota president to become chairman
NHK - Jan 26
Japan's Toyota Motor says its president Toyoda Akio will become chairman on April 1st. He will maintain the right to represent the company.
New office tower to open in central Tokyo in July
NHK - Jan 25
Tokyo will be getting a new addition to its skyline this summer. A multi-purpose complex called "Toranomon Hills Station Tower" will open its doors in July in the heart of the metropolis.
Japan cuts economic view in Jan. as COVID-19 surges in China
Kyodo - Jan 25
The Japanese government on Wednesday downgraded its economic outlook for the first time in 11 months, reflecting a fall in exports amid a recent surge in COVID-19 cases in China.
Ski resorts in Japan another victim of surging energy costs
Japan Times - Jan 24
For a quarter century, the Hachi Kogen Ski Resort in Hyogo Prefecture relied on artificial snow machines to prepare its slopes for the annual season. Not this winter.
Japan to explore relaxing ‘minpaku’ vacation rental rules
shorttermrentalz.com - Jan 23
The Japanese government is considering relaxing the requirements for property management businesses operating ‘minpaku’ vacation rentals [i.e. private lodgings on platforms such as Airbnb] in a bid to galvanise regional tourism in the country.
TEPCO applies to raise home power prices by nearly 30%
Nikkei - Jan 23
Tokyo Electric Power Company Holdings (TEPCO) has applied to the Japanese industry ministry to boost its power prices to households by nearly 30% from June due to soaring fuel procurement costs, the company said on Monday.
Japan reports inflation hit 4 per cent, 41-year high in December
devdiscourse.com - Jan 20
Japan's consumer inflation rate hit a 41-year high of 4 per cent in December, as prices for everything from burgers to gas surged.
TEPCO set to apply for raising households' power prices about 30%
Nikkei - Jan 20
Tokyo Electric Power Co. Holdings (TEPCO) looks to raise power prices for households by around 30% as early as this summer for the first time in 11 years amid rising fuel costs, Nikkei has learned.
Publication of over 100-yr-old Shukan Asahi magazine to be suspended
NHK - Jan 20
The publisher of Shukan Asahi says it will suspend publication of the magazine in May this year. Started over a century ago, the magazine is said to be Japan's oldest weekly.
China out, Japan, South Korea and India In - How luxury brand market in Asia is changing
Firstpost - Jan 20
China is about to embark on a diplomatic campaign in Europe’s power centers. Top Chinese delegation will visit Germany and Belgium next month in a bid to reset relations with a skeptical Europe.
Japan's declining pet ownership, soaring pet food prices
petfoodindustry.com - Jan 19
Japan's pet industry has its work cut out for it this year in anticipation of a further decline in pet ownership and higher pet food prices.
Bank of Japan defies market speculation; keeps policy steady
ing.com - Jan 18
In keeping its key rate and yield curve control policy unchanged at Wednesday's meeting, the Bank of Japan probably wanted to convey a message to the market; don't fight the BoJ.
Toyota limits orders for Lexus in Japan due to chip shortage
Nikkei - Jan 18
Toyota Motor is limiting orders of its Lexus luxury car in Japan, Nikkei has learned.
Crypto exchange Coinbase says to halt operations in Japan
nasdaq.com - Jan 18
Cryptocurrency exchange Coinbase Global Inc COIN.O on Wednesday said it will halt operations in Japan due to volatile market conditions.
