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April 28, 2024
 

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INSURANCE

A bill to tackle the low birthrate is passed at a Lower House plenary session on Friday.
JAPAN / Politics
Apr 19, 2024
Lower House approves bill aimed at tackling low birthrate
The government plans to start collecting the fees in fiscal 2026 and gradually increase the amounts to secure ¥1 trillion annually from fiscal 2028.
Dai-ichi Life Holdings has begun to include more alternative investments in its ¥33.9 trillion portfolio, and is also looking at increasing mergers and acquisitions.
BUSINESS
Apr 18, 2024
Shifting market spurs Dai-ichi to adjust ¥33.9 trillion portfolio
The firm is cutting its holdings of domestic equities, which are surging, to avoid too much exposure to the asset class.
The Meiji Yasuda Life Insurance headquarters in Tokyo. Japan's life insurers will lay out their investment plans for the new fiscal year starting this month.
BUSINESS / Companies
Apr 15, 2024
Investment plans for Japan’s insurers will likely favor JGBs
Companies will lay out their plans for the fiscal year starting this month.
Ayuko Kato, minister for children-related policies
JAPAN
Apr 12, 2024
Japan discloses more details of costs to fight low birthrate
The planned fees that will be added to public medical insurance premiums aims to help secure funds to combat the declining birthrate trend.
Japan will charge members of medical insurance programs with fees starting in fiscal 2026 to tackle the country's sluggish birthrate.
JAPAN
Mar 29, 2024
Fight against low birthrate to cost ¥450 monthly per head
The government plans to boost annual spending on measures to fight the sluggish birthrate to ¥3.6 trillion by fiscal 2028.
Execs at four major Japanese insurers, including Tokio Marine & Nichido Fire Insurance, will take pay cuts over price fixing.
BUSINESS / Companies
Mar 1, 2024
Four general insurance firms punish 132 people over price-fixing
The four general insurers, including Tokio Marine & Nichido Fire Insurance, also submitted business improvement plans to the Financial Services Agency.
A fight over Benefit One is the latest in a growing number of takeover deals in Japan, spurred in part by the Tokyo Stock Exchange pushing for improved corporate governance.
BUSINESS / Companies
Feb 8, 2024
Dai-ichi Life gets Pasona's nod on Benefit One acquisition
The agreement with Pasona Group, which owns 51.16% of Benefit One, is crucial for Dai-ichi to win the battle against digital health care provider M3.
Sompo Holdings' Kengo Sakurada is planning to step down as the company's CEO at the end of March.
BUSINESS / Companies
Jan 23, 2024
Sompo Holdings' CEO to resign over handling of Bigmotor wrongdoing
The Financial Services Agency has ended its on-site inspections of Sompo Holdings and Sompo Japan and is expected to issue business improvement orders.
The Meiji Yasuda Life Insurance headquarters in Tokyo. The insurer isn't interested in buying Japan’s superlong sovereign bonds until yields start rising.
BUSINESS / Markets
Jan 16, 2024
Meiji Yasuda Life Insurance to avoid Japan sovereign bonds for now
Japanese life insurers are the main buyer of bonds due in more than 10 years and typically increase purchases toward the end of the fiscal year.
Rescuers search for missing victims at a landslide site in the Kawashima district in the city of Anamizu, Ishikawa Prefecture, on Saturday after a major earthquake struck the Noto region on New Year's Day.
JAPAN
Jan 6, 2024
Ishikawa quake estimated to cost insurers $6.4 billion, report says
The government is considering designating the powerful earthquake as a disaster of extreme severity, raising subsidy rate for restoration projects.
The Tokio Marine & Nichido Building in the Marunouchi district of Tokyo
BUSINESS / Companies
Dec 26, 2023
Japan penalizes biggest property insurers for price fixing
The Financial Services Agency has issued business improvement orders on the core units of Tokio Marine, MS&AD Insurance and Sompo.
An office of Tokio Marine & Nichido Fire Insurance in Tokyo in 2016.
BUSINESS / Companies
Dec 19, 2023
FTC inspects nonlife insurers over alleged joint contract cartel
The on-site probes follow reports the firms prearranged premiums for joint insurance contracts with corporate and public entities.
Prime Minister Fumio Kishida addresses a meeting to discuss the results of comprehensive inspection of My Number information held at the Prime Minister's Office on Tuesday.
JAPAN
Dec 13, 2023
15,907 mistakes found over My Number info linkages
The government said it has completed personal identification checks for 82.06 million of the 82.08 million My Numbers subject to inspection.
Gender-neutral names were more popular for Japanese babies born in 2023, a survey has found.
JAPAN / Society
Dec 5, 2023
Popularity of gender-neutral Japanese names rose in 2023
The annual ranking by Meiji Yasuda Life Insurance, released Monday, showed that unisex names have risen in popularity.
The labor ministry is planning to review the workers' accident compensation program to cover all freelancers commissioned to work for companies.
BUSINESS
Nov 20, 2023
Japan to expand workers' accident compensation for freelancers
The measure is aimed at creating an environment in which freelancers can work with a sense of security.
Bigmotor's registration as an insurance agent will be revoked later this month.
BUSINESS / Companies
Nov 14, 2023
FSA to revoke Bigmotor's registration as insurance agent
The planned penalty follows an investigation into widespread acts at Bigmotor of deliberately damaging customers' vehicles to pad insurance claims.
Nippon Life Insurance will focus purchases on 30-year JGBs, with the current yield of above 1.8% "good in terms of absolute level," a representative for the insurer said at a recent briefing.
BUSINESS / Markets
Oct 27, 2023
Japan's life insurers to boost JGB buying but wary of policy shift
Nippon Life, Dai-Ichi Life and Meiji Yasuda Life were among those who said they aimed to buy the longest-dated JGBs amid the highest yields in a decade.
AI software is being used to detect cognitive decline in older Japanese drivers in order to help prevent accidents.
BUSINESS / Tech
Oct 22, 2023
AI startup helps insurers spot cognitive decline in elderly drivers
Once reliant on a driver's age and model of car, some insurers now rely on AI to expedite settlements and craft more precise risk assessments.
There are expectations that Japan’s life insurers may increase purchases of Japanese government bonds as yields rise at home along with signs that the central bank is edging toward a normalization of monetary policy.
BUSINESS / Markets
Oct 13, 2023
Japan’s rising yields and yen hedging costs drive insurers to JGBs
Japanese government bonds are drawing interest amid signs that the central bank is edging toward a normalization of monetary policy.
Whistleblower reports on Bigmotor's fraudulent activities prompted Sompo Japan and two other major nonlife insurers to suspend customer referrals to Bigmotor in June last year, but Sompo Japan soon resumed the referrals.
BUSINESS
Oct 11, 2023
Panel raps Sompo Japan's resumption of business with Bigmotor
The report said the resumption of business was caused by concerns among Sompo Japan execs about possibly losing deals with Bigmotor to rivals.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.
In Japan, regional revitalization fails to halt population decline
Sakiyama elementary school in Tamba, Hyogo Prefecture, in March .Over the past decade, the government has directed efforts toward policies designed to give young people incentives to base themselves in rural areas.
Number of homeless in Japan hits record low
Homeless people sleep on the street in Tokyo's Shinjuku Ward in August 2021.
Ukraine is far from doomed
When comparing Ukraine’s military situation in 2024 to Europe’s in 1941, Russia’s defeat seems entirely possible.
Japan wants you to spend more with ‘luxury tourism’
Performers play a traditional drum unique to Wajima, Ishikawa Prefecture, in the prefectural capital of Kanazawa on March 16 to mark the extension of the Hokuriku Shinkansen line to Tsuruga Station in Fukui Prefecture.
Tokyo's Koto Ward by-election a race unlike any other
Natsumi Sakai, the Constitutional Democratic Party of Japan’s candidate and one of four female candidates running in the by-election, touts her experience as a cancer survivor and midwife as having prepared her to tackle issues that women currently face.
Theaster Gates’ ambitious ‘Afro-Mingei’ brings Black Chicago to Tokyo
Theaster Gates' “A Heavenly Chord” lines up church pews before seven speakers and a Hammond B3 organ, a type of electric organ prevalent in Black American churches.
Japan wants you to spend more with ‘luxury tourism’
Performers play a traditional drum unique to Wajima, Ishikawa Prefecture, in the prefectural capital of Kanazawa on March 16 to mark the extension of the Hokuriku Shinkansen line to Tsuruga Station in Fukui Prefecture.
Casa del Cibo: A thriving jewel born from Tohoku’s harsh past
When chef Ryohei Ikemi moved to Hachinohe, Aomori Prefecture, and opened Casa del Cibo in 2011, it was the first proper Italian restaurant in the city.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.

Podcast

From easily navigable train stations to the helpfulness of its municipal staff, Tokyo has earned high praise for its commitment to accessibility for disabled travelers.
[Rebroadcast] Japan is doing better on accessibility than you may think

Longform

Later this month, author Shogo Imamura will open Honmaru, a bookstore that allows other businesses to rent its shelves. It's part of a wave of ideas Japanese booksellers are trying to compete with online spaces.
The story isn't over for Japan's bookstores
By Alex K.T. Martin

SUSTAINABLE JAPAN

Vol. 34: Tokyo, a vanguard city for sustainability
Vol. 34: Tokyo, a vanguard city for sustainability

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