11:08โขCorporate Profits Set for First Decline in Six Years
The newspapers report on Japan's listed companies forecasting a 7% profit decline for fiscal 2026, the first decrease in six years, due to US tariffs and yen appreciation impacting automotive and steel sectors (Nikkei Shimbun). In defense news, Mitsubishi Heavy Industries is exploring potential export opportunities for its trainer jet with support from Leonardo and Honeywell as interest in Japanese defense exports grows (Nikkei Asia). Meanwhile, Russia and Ukraine may hold working-level talks at the Vatican next week (Yahoo News Japan), while the separate surname debate continues with Hikaru Utada's new song supporting the option (Huffington Post Japan).08:31โขKoizumi Tasked With Taming Rice Prices
The newspapers report on Shinjiro Koizumi's urgent task as new "rice minister" to lower soaring prices (Japan Times). In defense news, the government is actively marketing fighter jets and escort ships to foreign countries, seeking to diversify beyond US-dependent procurement (Nikkei Shimbun). The Democratic Party for the People plans to implement AI fact-checking for the upcoming upper house election to counter misinformation (Japan Business Press), while authorities are considering restrictions on foreign driver's license conversions, potentially excluding tourism stays (Yahoo News Japan).04:56โขUtada Song Fuels Separate Surname Debate
The newspapers report on the debate surrounding separate surnames for married couples in Japan. A new song by Hikaru Utada with lyrics supporting optional separate surnames has received public reaction of "thank you" and "surprise" (Huffington Post Japan), while the ruling Liberal Democratic Party's working team has drafted a proposal allowing maiden name use (Yahoo News Japan). Meanwhile, Japan-US financial discussions continue, with officials agreeing that dollar-yen exchange rates reflect economic fundamentals (Kyodo News, Japan Times). Technology coverage includes OpenAI CEO Sam Altman's vision for post-smartphone design (Nikkei Shimbun) and China's CATL receiving substantial EV battery subsidies (Nikkei Asia).01:09โขRice Minister Dismissal Mystery Deepens
The newspapers report on the continuing fallout from the rice scandal, with Yahoo News Japan questioning former Agriculture Minister Eto's sudden dismissal after initial plans for him to continue (Yahoo News Japan). In financial news, Japan and US officials have endorsed market-determined foreign exchange rates (The Japan Times) while ultra-long-term interest rates rise across Japan, US and Europe amid inflation and fiscal concerns (Nikkei Shimbun). International tensions continue as China's drug czar plays a significant role in US tariff negotiations related to Trump's 20% fentanyl retaliation tariff (Nikkei Asia). Security issues appear in reports of securities account hijacking linked to fraud groups targeting Chinese stocks and Myanmar "dark part-time jobs" (Japan Business Press).20:26โขKoizumi Unleashes Unlimited Rice Reserves
The newspapers report on new developments in the rice crisis, with new Agriculture Minister Koizumi announcing unlimited release of rice reserves to address price increases (Yahoo News Japan). Economic reporting shows long-term interest rates rising across US, Europe and Japan amid inflation concerns and weak US treasury auctions (Nikkei Shimbun). Trump's tariffs on Japanese vehicles are taking effect, with export prices falling 15% in April as manufacturers appear to be absorbing these costs rather than passing them to consumers (Nikkei Asia).