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 Times
More Japanese firms raising wages to combat labor shortage
inquirer.net - Aug 18
More large Japanese companies are now raising wages to attract workers and cope with chronic staff shortages, a monthly Reuters poll showed on Thursday, a tentative sign Japan Inc may be slowly addressing pay that has been flat for decades.
Apple Store in Tokyo's Ginza moves to groundbreaking wood building
Nikkei - Aug 18
The Apple Store in Tokyo's upscale Ginza district will move this month to Japan's first 12-story building made of a fire-resistant wood and steel construction.
The History of the Japanese Candlesticks
newsonjapan.com - Aug 18
Japanese candlesticks (Japanese candles) are one of the most popular tools for analyzing financial markets.
Tokyo’s beloved Nakagin Capsule Tower could be rebuilt
thespaces.com - Aug 17
The rights to rebuild Japan’s iconic Nakagin Capsule Tower – currently in the middle of demolition – are being auctioned off, and they include a metaverse and real-life version.
Japanese economy marks third consecutive quarter of growth
NHK - Aug 15
Japan's latest GDP figures show its economy grew in the April-to-June period for the third consecutive quarter.
End of $3 ramen? Inflation squeezes Japan's comfort food
Nikkei - Aug 15
Inflation has spread to one of Japan's favorite, most affordable meals: ramen.
Nearly 370 mil disposable cups used by coffee chains in Japan in 2020
Japan Today - Aug 14
An estimated 369.65 million disposable cups were used to serve drinks by nine major coffee chains in Japan in 2020 alone, highlighting limited progress in promoting reusable cups and cutting waste, according to a recent survey by an environmental conservation group.
Tokio Marine to sell insurance policies through Amazon
Nikkei - Aug 13
Tokio Marine & Nichido Fire Insurance will sell insurance on Amazon Japan's website, starting Aug. 22, as it looks to take advantage the platform's massive digital sales channel to reach younger buyers, Nikkei has learned.
Japanese automakers could really hurt Japan’s economy
BestInTESLA - Aug 13
Resistance to switch to EVS could really hurt Japan as a country. Japan has already lost some huge export industries to South Korea and China like semiconductors and home appliance but it looks like they could also lose the automotive industry because of the stubbornness of Toyota and other companies that are fighting against the transition to EVS.
Prices set to rise in Japan for over 10,000 food items on weak yen
Kyodo - Aug 12
Food prices will continue to surge in Japan for the latter half of 2022, with more than 10,000 items set to rise in price from August onward as import costs of materials become more expensive due to a weaker yen, according to a survey by a credit research company.
Japan's national debt tops 10m yen per capita for first time
Nikkei - Aug 11
Japan's government debt per capita surpassed 10 million yen, or roughly $75,000, for the first time at the end of June, data released Wednesday shows, as Tokyo poured money into tackling both the coronavirus pandemic and inflation.
Gucci handed a loss in bid to block registration of Japanese trademark
thefashionlaw.com - Aug 11
Gucci has been handed a loss in a trademark fight in Japan, with the national trademark office refusing to block the registration of a mark that counsel for Gucci alleges will cause confusion among consumers.
Used Land Cruisers fetch over double new price amid Toyota shortage
Nikkei - Aug 11
Resale prices of some Toyota models have topped what new ones sell for as Japan's top automaker keeps car buyers waiting.
Tesla sells its BTC in full recovery of the crypto market
newsonjapan.com - Aug 11
After issuing the quarterly reports of the companies listed on the financial markets, Tesla made public the sale of around 75% of the stored units of Blockchain-Jobz site, representing more than 900 million dollars.
Japanese company trials seaplane drone in fish spotting
seafoodsource.com - Aug 11
A Japanese company has created an unmanned, autonomous aerial drone that it envisages could be used to monitor infrastructure, search for missing swimmers or vessels, and to spot schools of fish.
Bitcoin mining is now decontaminating
newsonjapan.com - Aug 10
Just as technology and society evolve, Bitcoin and its processes are also doing so to better use the resources in the environment without affecting it.
