Effort to nudge Japan to go cashless with offsets to sales tax hike faces many hurdles
On Oct. 15, Prime Minister Shinzo Abe confirmed during an extraordinary Cabinet meeting that the government would raise the consumption tax from 8 to 10 percent next Oct. 1. The tax hike has already been postponed twice owing to jitters over how it might ...
Japan seems to suffer more than its fair share of natural disasters, and this past summer was especially bad. In addition to two earthquakes that resulted in considerable damage, there were strong storms that killed dozens and forced thousands to flee their homes. Some people ...
Bad news around mutual funds does little to boost Japanese people's appetite for investment
On July 27, the Asahi Shimbun reported that the Bank of Japan had overestimated the value of mutual funds being held by individuals by about 30 percent. Every three months the BOJ publishes statistics called shikin junkan tōkei that cover the financial assets of ...
Pricey family graves a fading tradition in aging Japan
Last month, a man was arrested by the Tokyo Metropolitan Police for leaving human remains at a garbage collection station near his residence in Adachi Ward. The remains had been cremated and were mixed in with shards of funerary urns, and according to a ...
Poverty in Japan: Underclass struggles to achieve upward mobility
Last month, Liberal Democratic Party Secretary-General Toshihiro Nikai said during an LDP gathering in Tokyo that people who opt not to have children are "selfish" given the country's demographic crisis. That remark received a lot of attention. However, much less was said about another comment ...
Days are numbered for ATMs in Japan's banking system
On May 2, Shinsei Bank announced that starting from October it will impose fees for automatic teller machine (ATM) transactions. Shinsei's main sales point has always been its lack of ATM fees, but the bank will start charging ¥108 per ATM withdrawal unless the ...
Secondhand retail redefined in Japan as online flea markets rise in value
In June, the popular online flea market, Mercari Inc., is expected to be listed on the Tokyo Stock Exchange's Mothers section, which is reserved for high-growth startup companies. According to an article in the April 18 Asahi Shimbun the value of the company's stock ...
Tepco's compensation for 3/11 victims has made matters worse for many
As of the end of March, Tokyo Electric Power Company Holdings Inc. had paid more than ¥8 trillion in compensation (baishōkin) related to the Fukushima No. 1 reactor meltdowns of March 2011. About half of this money has gone to people living near the ...
In December, the former gūji (head priest) of Tokyo's famous Tomioka Hachimangu Shrine allegedly murdered his sister before committing suicide. Later, it was reported by various media that the suspect, Shigenaga Tomioka, had taken over the position from his father in 1995, but apparently ...
Japanese consumers increasingly face stealth price hikes via 'shrinkflation'
In Japan, a phenomenon known as "shrinkflation" — an important economic countermeasure against inflation for businesses — has been catching the attention of consumers. The term, coined by American economist Pippa Malmgren, describes what happens when manufacturers have to contend with higher costs but don't ...
Electric vehicles are here, but are they practical and economical?
The future seems to belong to electric vehicles (EVs). Several countries, including France and the U.K., have already set deadlines to end internal combustion engine car sales, and in response automobile manufacturers have set their own deadlines to stop producing them. Most of the current ...
Abe's free day care pledge may be an appealing solution for the wrong problem
Just before the recent Lower House election in October, Prime Minister Shinzo Abe pledged to make public day care services and kindergartens free for children between the ages of 3 and 5 and free for children below the age of 3 if they were ...
