Japan, Upper House
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Japanese PM Ishiba meets US Treasury chief Bessent
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Couche-Tard scraps $46 billion bid for Japan's 7 & i
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Japan has worked hard to attract foreigners to boost its sluggish economy but now the perception there are too many has prompted the creation of a new task force, as competition for votes heats up ahead of Sunday’s national election.
Heading into the most consequential Japanese upper house election in memory and a possible defeat for the coalition of Prime Minister Shigeru Ishiba, investors are weighing whether a record sell-off in the nation's debt has further to run.
T HE IMAGE Tamaki Yuichiro wants to convey is of upward mobility. His campaign poster shows him grinning against a vivid orange backdrop, arms extended and fingers pointing skyward. The slogan beneath is hardly revolutionary: “Increase take-home pay.” But Mr Tamaki has turned this into a rallying-cry among younger voters.
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Ruling coalition predicted to lose majority and will have to seek partners to maintain power, with Ishiba expected to make way for a more conservative leader.
Japanese Finance Minister Katsunobu Kato said on Friday he was aware of bond market concerns about the country's fiscal policy ahead, in the build-up to an upper house election where the minority government is poised for another setback.
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Russia operations and North Korean threats pose the greatest challenge to global order since World War II, in its annual assessment.
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Japan is facing its most severe security environment since World War II as three potential adversaries in East Asia – China, Russia and North Korea – ramp up military activities in the region, the country’s defense minister said Tuesday.
Alimentation Couche-Tard's attempt to create a global convenience store behemoth was set back when it pulled its $46 billion bid for Seven & i, whose consumers in Japan have emotional ties to their purveyor of rice balls.
A Japanese government official called on China to expand a program allowing certain mainland investors to put more money abroad, citing “strong enthusiasm” for Japanese stocks.
The strain on households is real. Japan’s Engel coefficient, which measures food as a proportion of household spending, is at a 43-year high and inflation-adjusted wages fell for a fifth straight month in May. The most consequential policy battleground of the election — a cut to VAT — attests to real household pain.
For Americans who were awaiting the release of the Nintendo Switch 2, the delay of U.S. pre-orders for the gaming console this April was one indication of what’s to come.