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November 23, 2025
 

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BONDS

Prime Minister Sanae Takaichi. Investors are worried that Japan may be spending beyond its means.
BUSINESS / Markets
Nov 22, 2025
Takaichi faces market tests from yen to stocks and bonds
Markets have lost their enthusiasm for Japan’s new prime minister, with about $127 billion wiped off the value of Tokyo-listed stocks over the past week.
Some Japanese government bond traders have noted Japan Exchange Group's rules were opaque enough that almost anyone could be tripped up and lose their job.
BUSINESS
Nov 21, 2025
Japan exchange to revise guidelines to curb JGB futures spoofing
As the line between spoofing and regular transactions can be contentious, traders would benefit from clearer guidance.
SoftBank priced ¥46 billion in bonds on Friday, bringing its already record issuance this year to around ¥400 billion.
BUSINESS / Companies
Nov 21, 2025
SoftBank prices ¥46 billion in bonds, extending record issuance
The offering comes amid a sharp rise in benchmark government bond yields, driven by concerns over fiscal expansion under Prime Minister Sanae Takaichi’s administration.
Sanae Takaichi's spending plans have sent Japan's bonds and yen tumbling, raising fears of capital flight similar to the 2022 U.K. bond market turmoil, says Deutsche Bank's global head of currency research.
BUSINESS / Economy
Nov 21, 2025
Deutsche Bank warns of Japan capital flight in echo of U.K. crisis
Japanese government bonds are falling at the same time as the yen, reflecting concerns that the new prime minister’s stimulus plans will worsen the country’s fiscal health.
Berkshire Hathaway sold ¥210.1 billion ($1.4 billion) in yen-denominated bonds on Friday at a narrower spread than its previous deal, as global investors flock to Japan.
BUSINESS / Companies
Nov 14, 2025
Berkshire Hathaway raises more than ¥210 billion from bond sale
The Omaha, Nebraska-based firm has been a regular issuer of yen bonds since its debut six years ago, making it the largest foreign issuer of yen notes in that period.
Mitsubishi UFJ Asset Management, a unit of Mitsubishi UFJ Financial Group, aims to launch a new fund in January with a size of several billion yen.
BUSINESS / Companies
Nov 13, 2025
MUFG’s asset manager targets Japan buyers for its first CLO fund
The securities, which are bundled leveraged debt, will mainly hold dollar-denominated floating-rate loans made to U.S. companies.
Japanese companies have raised $132 billion in foreign-currency bond and loan deals arranged by banks so far in 2025, up 56% from a year earlier.
BUSINESS / Companies
Nov 4, 2025
Japan’s $132 billion borrowing binge reshapes global credit
Underscoring the unprecedented shift onto the global stage, annual overseas note issuance is on course to exceed debt sales in yen for the first time ever.
Nomura Asset Management has been buying U.K. government bonds as their yields appear more attractive than those of other European countries.
BUSINESS / Companies
Oct 31, 2025
Nomura’s Maeda says gilts are most compelling bet in Europe
Despite a tumble in gilt yields this month, the 10-year maturity is yielding about 4.4%, making it appealing for investors in Japan.
Rising domestic yields are leading Japan’s top life insurers to increase local bond holdings and reduce overseas debt as foreign returns lose their appeal.
BUSINESS / Companies
Oct 29, 2025
Japanese insurers trim foreign debt as domestic yields soar
Roughly half of 10 companies that disclosed half-year investment plans said they had cut overseas debt holdings.
The Tokyo Metropolitan Government issued a €300 million (¥53 billion) bond on Tuesday to fund flood defenses and other climate-related measures.
JAPAN
Oct 28, 2025
Tokyo Metropolitan Government issues climate resilience bond
The money will be used to upgrade coastal protection facilities for the Port of Tokyo, develop sediment prevention facilities and enhance river flood resilience.
Masayoshi Son’s SoftBank is turning to expensive hybrid bonds and other financing methods to fund its $30 billion investment in OpenAI, as it faces growing pressure from high debt, low cash flow and competition from AI giants like Nvidia.
COMMENTARY / Japan
Oct 26, 2025
SoftBank’s OpenAI ambition is far too grand for banks
On a stand-alone basis, as of the end of June, the company held more than twice as many bonds as bank loans.
Nada Choueiri, deputy director of the International Monetary Fund's Asia and Pacific Department, speaks during an interview on Oct. 17 in Washington.
BUSINESS / Economy
Oct 24, 2025
Japan has time to restore fiscal health, IMF exec says
A consumption tax cut should be avoided, and fiscal measures should be highly targeted, the deputy director of the IMF's Asia and Pacific Department said.
Hitoshi Inoue, head of Bank of Yokohama’s markets business
BUSINESS / Companies
Oct 23, 2025
Top Japan local bank ready to boost JGB buying when BOJ pivots
Bank of Yokohama is prepared to pile back into the domestic debt market when the central bank’s peak interest rate is in sight.
SoftBank has raised at least $24 billion in loans and bonds so far in 2025 and is seeking to raise more in the overseas bond market.
BUSINESS / Companies
Oct 22, 2025
SoftBank seeks $2 billion in bond sales as it chases AI bets
The Japanese technology investment giant has raised at least $24 billion in loans and bonds so far in 2025.
Rakuten Group issued a local bond with this year's highest coupon of 4.691%, highlighting the impact of rising interest rates on corporate borrowing costs in Japan.
BUSINESS / Companies
Oct 17, 2025
Japan gets highest-yielding yen bond this year with Rakuten deal
Japanese bond yields have climbed over concerns the next administration may pursue a more expansionary fiscal policy.
The Bank of Japan in Tokyo. Turmoil in developed nations such as France and Japan underscores how politics is eclipsing central bank policy as a key market driver.
BUSINESS / Markets
Oct 13, 2025
The politics premium is punishing bonds from Paris to Tokyo
Investors are demanding fiscal consolidation, while anything resembling austerity can prove politically contentious and toxic at the ballot box.
A screen displays Japan's 10-year government bonds and the rate of the yen against the dollar outside a securities firm in Tokyo on Monday.
BUSINESS / Markets
Oct 6, 2025
Goldman sees Japan bond 'shocks' spilling over to Treasurys
Global bonds feel the ripple from Tokyo as investors react to Sanae Takaichi’s election win and looming fiscal stimulus.
Sanae Takaichi, newly elected leader of the Liberal Democratic Party, speaks during a news conference at the party's headquarters in Tokyo on Saturday.
BUSINESS / Markets
Oct 5, 2025
Takaichi's win to support Japanese stocks but weigh on yen and bonds
Bank stocks will likely struggle on expectations rate hikes will be pushed back, while domestic demand and small-cap shares may get a "significant tailwind," experts say.
Sumitomo Life is pledging not to sell its debt assets at a loss, in a rare move to avoid booking valuation losses, a source said.
BUSINESS / Companies
Oct 3, 2025
Sumitomo Life takes unusual step to avoid marking JGB losses
The Osaka-based firm, one of Japan’s top-four life insurers, is taking advantage of guidelines for bond investors when prices move sharply.
Itochu is planning to issue between ¥30 billion and ¥50 billion in local currency debt and is weighing a $500 million bond, said Kenichiro Soma, executive officer and general manager of finance.
BUSINESS / Companies
Sep 26, 2025
Itochu mulls first dollar note issue in five years to diversify
The push comes as tighter credit spreads and expectations for U.S. rate cuts fuel demand for investment-grade bonds, with premiums over government debt near the lowest since 2007.
Japanese court orders Cloudflare to pay ¥500 million over manga piracy
Cloudflare has been ordered to pay ¥500 million after four major publishing firms accused the firm of copyright infringement for its role in hosting sites that distribute pirated copies of manga titles.
Japan plans higher visa fees for foreign residents
Along with planned higher fees for foreign residents to stay, Japan is looking to raise the ¥3,000 single-entry visa fee for inbound tourists to Western standards in the next fiscal year.
Two men suspected of smuggling 1 ton of gold into Japan from South Korea
U.K. gold bullion bars and coins are displayed at Baird & Co. in Hatton Garden in London.
Takaichi rejects China's demand to retract Taiwan remarks
Prime Minister Sanae Takaichi has rejected China's demands for her to retract her comments on Taiwan, saying Tokyo's stance on a major regional security crisis remains unchanged.
Japan set to lean on U.S. allies for support if China escalates
U.S. President Donald Trump and Prime Minister Sanae Takaichi in Tokyo, on Oct. 28.
Japan plans higher visa fees for foreign residents
Along with planned higher fees for foreign residents to stay, Japan is looking to raise the ¥3,000 single-entry visa fee for inbound tourists to Western standards in the next fiscal year.
First foreign president of Hosei University looks abroad for change
Hosei University President Diana Khor, who herself was an international student, aims to encourage students to look outward and cultivate a global mindset.
Japanese companies advised to change mindset about investment in Africa
Bernard Laurendeau, chief of Enkopa Lab Japan, in Tokyo last month
Munetaka Murakami headlines quartet looking to move to MLB via posting system
The Swallows' Munetaka Murakami has 246 career home runs in eight NPB seasons.
The reality of human trafficking in Japan
A view of Tokyo’s Shinjuku Ward at night. Last year in Japan, 66 people were put in protective custody as victims of human trafficking. Among them, 58 — including all 41 minors — were Japanese nationals. International pressure to act on human trafficking led Japan to make efforts to crack down on the crime, such as a tightening of conditions in 2005 for entertainer visas.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Juzo Itami’s “Tampopo” was released Nov. 23, 1985, and though it wasn’t a hit at the time, it has gained a cult following in the years since.
Eat, slurp, love: 'Tampopo' turns 40
By Weiwen Lin

SUSTAINABLE JAPAN

We are pleased to announce the winners of the 6th annual Sustainable Japan Award.
We are pleased to announce the winners of the 6th annual Sustainable Japan Award.

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