Japan Watch Thread

[Yuli Ban]

Tokyo Covered Up Arrival of Deadly New COVID Variant Just Before the Olympics

Three days before the Olympics began, on July 20, Japan’s National Institute of Infectious Diseases (NIID) reported to an international organization that the highly infectious Lambda variant had been detected in an airport test in Japan for the first time, but did not announce it widely to the public.

The report was submitted to an international COVID-19 and other influenza virus database known as GISAID. According to preliminary reports from South American and Japanese scientists, the Lambda variant may possess an increased resistance to vaccines. Although scientific data on the variant is limited in comparison to prevalent COVID-19 variants like Delta, its detection in the airport comes at a time when infections in the country are skyrocketing. On Friday, the total number of confirmed COVID-19 cases in Japan passed 1 million and the arrival of Lambda can further complicate matters. For the time being, there appears to have been only one confirmed case.

[caltrek]

Japan's Prime Minister Suga to Step Down After One Year in Office
by Zachary Basu
September 3, 2021

https://www.axios.com/japan-prime-minis ... c9acd.html

Introduction:

(Axios) Japan's Prime Minister Yoshihide Suga said Friday he will not seek re-election as the leader of the ruling Liberal Democratic Party this month, bringing his time as prime minister to an end ahead of a general election on Nov. 28.

Why it matters: Japan is the world's third-largest economy and a key U.S. ally. Suga became the first world leader to visit the White House in-person in April, where he and President Biden announced a "new era" in U.S.-Japan relations aimed in part at countering China's influence in the Indo-Pacific.

The big picture: The 72-year-old Suga saw his approval rating plummet after a surge in COVID-19 cases that coincided with the Tokyo Olympics.

His short stint in office followed that of Shinzo Abe, who was the longest-serving prime minister in Japan's history before he resigned in September 2020 due to chronic health issues.
Suga's departure may spark fears of a return to revolving-door leadership in Japan. The country had 17 prime ministers in the 14 years before Abe took office in 2012.

[caltrek]

Poll Shows That LDP supporters Favor Taro Kono to be Next Japan Prime Minister
September 25, 2021

https://english.kyodonews.net/news/2021 ... -poll.html

Introduction:

(Kyodo News) Tokyo - Vaccination minister Taro Kono is still the most popular choice among ruling Liberal Democratic Party rank-and-file members to be the next head of the LDP and hence Japan's prime minister, a Kyodo News poll showed Sunday, ahead of the party's presidential election later this week.

After incorporating LDP Diet members' planned votes, however, none of the four candidates in the LDP leadership race is likely to win an overall majority vote in the first round, meaning the successor to Prime Minister Yoshihide Suga is expected to be determined in a runoff vote.

Among the rank-and-file voters, Kono gained 47.4 percent support, down 1.2 percentage points from the previous survey held earlier this month, and was followed by former Foreign Minister Fumio Kishida at 22.4 percent, up 3.9 points.

Former communications minister Sanae Takaichi came third at 16.2 percent and LDP executive acting secretary general Seiko Noda was at 3.4 percent, while 10.7 percent of the respondents said they have yet to decide who to vote for.

The party election will be held on Wednesday after Suga said earlier this month he will resign amid mounting criticism over his government's coronavirus response.

[caltrek]

Next Japan Prime Minister Kishida to Create Economic Security Minister to Counter China
October 2, 2021

https://english.kyodonews.net/news/2021 ... urity.html

Introduction:

(Kyodo News) Prospective Japanese prime minister Fumio Kishida plans to create a new ministerial post for economic security in a veiled counter to alleged technology theft by China, sources familiar with the matter said Saturday.

Kishida, who will launch his Cabinet after being elected prime minister at the start of an extraordinary Diet session Monday, is also considering appointing a prime ministerial advisor on the issue, the sources said.

It was not immediately known who will take up the post, but the new minister is expected to craft a national strategy designed to block a technology drain from the country.

After taking office, Kishida plans to dissolve the House of Representatives on Oct. 14 and a general election is likely to be held Nov. 7, government and ruling party sources said.

With the plan, campaigning for the general election is expected to start Oct. 26 with voting and ballot counting on Nov. 7, the sources said.

[caltrek]

Kishida Takes Office as Japan Prime Minister
by Ryotaro Nakamaru
October 4, 2021

https://english.kyodonews.net/news/2021 ... onday.html

Introduction:

(Kyodo News) Fumio Kishida took office as Japan's prime minister Monday forming a Cabinet charged with keeping COVID-19 under control while reviving a battered economy, as he looks to appeal to voters heading into a general election in less than a month.

…The Cabinet includes a slew of fresh faces, with 13 of its 20 members taking on a ministerial post for the first time. But key posts were given to those with close ties to former Prime Minister Shinzo Abe, suggesting there will not be a radical shift in policy from previous administrations.

Kishida retained Foreign Minister Toshimitsu Motegi and Defense Minister Nobuo Kishi, Abe's younger brother, while Shunichi Suzuki was tapped to replace Taro Aso as finance minister, a job he held for nearly nine years. Hirokazu Matsuno, a former education minister, was named chief Cabinet secretary.

Kishida, who was chosen as leader of the ruling Liberal Democratic Party last week, was elected prime minister by a resounding majority in both chambers of the Diet. He was then formally invested with the title by Emperor Naruhito in a ceremony at the Imperial Palace.

…Having ample international experience as foreign minister from 2012 to 2017, Kishida has his work cut out with a range of diplomatic and security challenges.

[caltrek]

Kishida Cabinet Gets Relatively Low Approval Rating of 45%
October 6, 2021

https://www.asahi.com/ajw/articles/14455275

Introduction:

(The Asahi Shimbun) The approval rating for the Cabinet of Prime Minister Fumio Kishida was 45 percent, the lowest for a new administration since 2001, when The Asahi Shimbun began its current method of surveying voters.

The disapproval rating for the Cabinet was 20 percent, according to the nationwide telephone survey taken Oct. 4-5.

The relatively low approval rating for the just-formed Cabinet has raised concerns among lawmakers of Kishida’s Liberal Democratic Party.

“It’s alarming, given that we will soon enter the Lower House race,” said a former Cabinet member from the LDP, referring to the general election slated for Oct. 31.

The LDP, however, easily outdistanced the main opposition Constitutional Democratic Party of Japan in terms of preferred party

[caltrek]

Japan Prime Minister Kishida Agrees With China's Xi to Seek Constructive Ties
October 8, 2021

https://english.kyodonews.net/news/2021 ... as-xi.html

Introduction:

(Kyoto News) Japanese Prime Minister Fumio Kishida spoke by phone with Chinese President Xi Jinping on Friday for the first time since taking office and said they agreed to seek "constructive and stable" relations.

The call between the leaders came amid rising tensions between the United States, Japan's security ally, and China over the Taiwan Strait.

Kishida, who took office this week and is making the rounds speaking with foreign leaders, told reporters he raised issues of concern, including the Senkaku Islands, Beijing's crackdown on pro-democracy protests in Hong Kong and the treatment of the Muslim Uyghur minority in Xinjiang during the 30-minute conversation.

Japan and China have a long-standing territorial dispute over the Senkakus, a group of uninhabited islets in the East China Sea. The Japanese-administered islands are claimed by Beijing, which calls them Diaoyu and often sends coast guard vessels nearby despite Tokyo's protests.

Kishida also conveyed Japan's stance on Taiwan to Xi, a senior official at the Foreign Ministry said without going into further detail.

[caltrek]

Kishida: Growth, Redistribution Strategies Key to 'New Capitalism'
by Taro Ono
October 8, 2021

https://www.asahi.com/ajw/articles/14457044

Introduction:

(The Asahi Shimbun) In his first policy speech to the Diet, Prime Minister Fumio Kishida pledged to work toward realizing a “new capitalism” where the middle class would share in more of the country’s economic benefits.

Kishida delivered his address, emphasizing economic growth and fairness, on Oct. 8 to both chambers of the Diet.

He said that in order to deal with the pressing issues facing the nation, such as the novel coronavirus pandemic, there is a need for the political class to be trusted by and empathetic with the public.

Highlighting his past views on the importance of listening to the public, Kishida said his Cabinet ministers would engage in small group dialogues with members of the public.

He said he wants to create a new kind of capitalism by generating a “positive spiral of growth and redistribution of benefits,” and cultivate a “new, post-COVID 19 society” that is prosperous.

[wjfox]

Japan adopts plan to push clean energy, nuclear to cut carbon emissions

Today 11:27 am

Japan adopted a new energy policy on Friday that promotes nuclear and renewables as sources of clean energy to achieve the country’s pledge of reaching carbon neutrality in 2050.

The new basic energy plan, adopted by the Cabinet just in time for the climate summit in early November, calls for drastically increasing use of renewable energy to cut fossil fuel consumption over the next decade as Japan pushes to meet its ambitious emissions reduction target.

Japan has been undecided over what to do about its nuclear power industry since the 2011 Fukushima plant disaster. It now says reactor restarts are key to meeting emissions targets as Japan tries to step up in the global effort against climate change.

The 128-page plan compiled by the Ministry of Economy, Trade and Industry says Japan should set ambitious targets for hydrogen and ammonia energy, carbon recycling and nuclear energy. It also calls for promoting offshore wind power and use of rechargeable batteries that have potential for growth.

“We will mobilize all options” to achieve the emissions target, the plan said, adding that the “supply of stable and low-cost energy is a prerequisite.”

https://japantoday.com/category/nationa ... cut-carbon

[caltrek]

Kishida’s Nuclear Push Faces Resistance Ahead of Election
October 27, 2021

https://www.asahi.com/ajw/articles/14469488

Introduction:

(Reuters via Asahi Shimbun) KASHIWAZAKI--Prime Minister Fumio Kishida’s push to restart Japanese nuclear power plants idled after the Fukushima disaster faces stiff opposition ahead of a general election on Sunday, where his future as leader hangs in the balance if the vote is tight.

A decade after triple meltdowns at Fukushima forced mass evacuations and a shut-down of the nuclear industry, Japan has restarted only a third of its 33 operable reactors.

Debate over whether to fire more of them back up is highly charged, with 40 percent of the population opposing the move.

It matters most in rural cities hosting the idled plants which had once relied on them for economic activity, such as Kashiwazaki, 265 km (165 miles) northwest of Tokyo - home to the world’s largest atomic power complex.

“The reason why we feel so strongly about this is because we feel the danger of the nuclear power plant - it hangs over our heads every day,” said Mie Kuwabara, a resident of a town close to Kashiwazaki and anti-nuclear activist.

[wjfox]

Japan death row inmates sue over same-day executions

4 hours ago

Two death row inmates in Japan are taking legal action against same-day executions.

Prisoners on death row are only notified hours before they are to be executed. Capital punishment is conducted by hanging.

Their lawyer has argued such short notice was "extremely inhumane", local media said.

Rights groups have long criticised the practice, saying it affects the mental health of prisoners.

"Death row prisoners live in fear every morning that that day will be their last," said the lawyer for the two death row inmates Yutaka Ueda, according to a Reuters report.

"The central government has said this is meant to keep prisoners from suffering before their execution, but that's no explanation. Overseas, prisoners are given time to contemplate the end of their lives and mentally prepare."

https://www.bbc.co.uk/news/world-asia-59173259

[caltrek]

We always seem to forget about Japan and South Korea. We keep noticing China and its gains in technology and economic power, and then compare that against the United States (and maybe Great Britain) as if there were no other countries on the planet. Of course, we cannot count on the current alliance system, both military and in trade, to remain stable. So that aspect will always be a challenge. Still, don’t forget about those other countries. Case in point:

Japan to Launch Second Self Defense Force Space Operations Unit in FY 2022
November 14, 2021

https://english.kyodonews.net/news/2021 ... -2022.html

Introduction:

(Kyodo News) Japan will set up a second space operations unit at an Air Self-Defense Force base in the country's west to monitor any threat via electromagnetic waves to its satellites within fiscal 2022, Defense Minister Nobuo Kishi said Sunday.

The establishment of the unit in the Hofu Kita Air Base in Yamaguchi Prefecture is part of Japan's efforts to beef up its capabilities in new domains such as outer space, as China and Russia are building up their own capacity in the electromagnetic spectrum.

"As we expand our operations in new domains -- the fields of outer space, cyberspace and the electromagnetic spectrum -- it is extremely important to secure the stable use of outer space," Kishi told ASDF personnel at the base.

The creation of the unit follows the launch in May last year of Japan's first space operation unit tasked with monitoring space debris, asteroids and other threats to artificial satellites. The ASDF unit is based in Fuchu, western Tokyo.

The launch of the second unit was included in the Defense Ministry's budget requests for fiscal 2022, starting in April next year, unveiled in August.

[caltrek]

Speaking of that alliance system...

Japan and U.S. Agree on Importance of Prime Minister Kishida's Visit to U.S.
November 13, 2021

https://english.kyodonews.net/news/2021 ... iance.html

Introduction:

(Kyodo News) Tokyo - Japan's new Foreign Minister Yoshimasa Hayashi and U.S. Secretary of State Antony Blinken agreed Saturday to realize an early visit to the United States by Japanese Prime Minister Fumio Kishida for his first summit.

In Hayashi's first talks with a foreign counterpart since assuming the post Wednesday, the two top diplomats also agreed to bolster bilateral alliance and make efforts toward a free and open Indo-Pacific region amid China's assertiveness, the Japanese Foreign Ministry said.

The two affirmed the importance of stability in the Taiwan Strait during the phone talks, while seeking to hold a so-called two-plus-two meeting involving the two allies' defense and foreign ministers as early as possible.

[caltrek]

U.S. Will Open Talks With Japan on Import Steel, Aluminum Tariffs
November 13, 2021

https://www.asahi.com/ajw/articles/14480960

Introduction:

(Reuters via The Asahi Shimbun) WASHINGTON--The United States said on Friday it will open talks with Japan that could lead to an easing of tariffs on steel and aluminum imports, a longstanding irritant in trade relations between the two allies.

The U.S. Commerce Department and the United States Trade Representative's Office said the talks were aimed at addressing "global steel and aluminum excess capacity", restoring market-oriented conditions and preserving critical industries.

The discussions with Japan follow an agreement by the United States and the European Union to end a dispute over steel and aluminum tariffs, and hammer out a global arrangement to combat "dirty" production and overcapacity in the industry.

The future agreement, which is open to other countries, will pose a challenge for China, which produces over half of the world's steel and which the EU and United States accuse of creating overcapacity that harms their own industries.

Last year, the Global Forum on Steel Excess Capacity estimated the gap between global steelmaking capacity and global demand at an excess of nearly 600 million tons, a sum that will continue to grow given new capacity already planned or under way.

[caltrek]

Japan Likely to Opt Out of Sending Cabinet Member to China for Winter Olympics
December 12, 2021

https://www.asahi.com/ajw/articles/14500805

Introduction:

(The Asahi Shinbum) Japan is unlikely to dispatch a Cabinet member to the Beijing Winter Olympics in February so as to fall in line with a U.S. and European diplomatic boycott over China’s suspected human rights abuses, sources said.

Instead, the government of Prime Minister Fumio Kishida is looking to send Koji Murofushi, commissioner of the Japan Sports Agency, in a show of respect to China and thereby avoid a deterioration in ties with its largest trade partner.

An official announcement is expected by year-end.

The decision not to send a Cabinet member underscores Tokyo’s position on diplomatic dealings with countries that have a poor track record on human rights.

However, there was some grumbling in government circles that keeping pace with Western countries could lead to souring of relations between the two neighbors.

[weatheriscool]

Japan Fire at Osaka Mental-Health Clinic Kills 24

Authorities call blaze suspected arson and murder and are reportedly looking for a man with a paper bag at scene

By Miho Inada in Tokyo and Alastair Gale in Osaka, Japan
[email protected]
https://twitter.com/AlastairGale
[email protected]
Updated Dec. 17, 2021 6:11 am ET

Twenty-four people were killed after a fire raced through a mental-health clinic on the fourth floor of an office building in Osaka, Japan, and police said they suspected arson.

An Osaka police spokesman said the fire was under investigation as a possible case of murder and arson.

TO READ THE FULL STORY
SUBSCRIBE
SIGN IN

Read more: https://www.wsj.com/articles/japan-fire ... 1639712535

[caltrek]

Japan Record Budget Plan Unlikely to Provoke Debate on Fiscal Health
by Keita Nakamura
December 24, 2021

https://english.kyodonews.net/news/2021 ... ealth.html

Introduction:

(Kyodo News) Tokyo -Japan's record budget plan for fiscal 2022 has laid bare the urgent need to have real discussions about how to restore its debt-ridden finances, but the chance of seeing them anytime soon seems very slim, at least until the House of Councillors election scheduled for July next year.

The draft budget, approved Friday by the Cabinet of Prime Minister Fumio Kishida, totals 107.60 trillion yen ($940 billion), marking a record high for 10th straight year, while there are deep-seated concerns that the government may spend more in the fiscal year starting in April through extra budgets, as in recent years.

Still, politicians tend to have reservations about bringing the issue of fiscal reconstruction under the spotlight especially in the run-up to an election, as it reminds voters about the possibility of facing higher taxes.

"Prime Minister Kishida has avoided such debate and is expected to do the same for the time being," said Yuichi Kodama, chief economist at Meiji Yasuda Research Institute.

The approval of the initial budget plan came less than three months after Kishida took office and nearly two months after the Liberal Democratic Party and its junior coalition partner Komeito retained a majority in the House of Representatives, the more powerful lower chamber of parliament, in the general election

[caltrek]

Japan, Taiwan Ruling Parties to Boost Economic Security Cooperation

https://english.kyodonews.net/news/2021 ... ation.html

Introduction:

(Kyodo News) Lawmakers of the ruling parties of Japan and Taiwan agreed Friday to bolster cooperation in the field of economic security with an emphasis on supply chain resiliency for semiconductors and other crucial goods.

During online talks attended by members of Japan's Liberal Democratic Party and Taiwan's Democratic Progressive Party, the Taiwanese side showed strong interest in a planned bill to promote economic security which Prime Minister Fumio Kishida's government aims to submit to parliament next year.

"We must make it effective legislation," said Akimasa Ishikawa, head of the LDP's Economy, Trade and Industry Division.

The meeting was held as the LDP has stepped up exchanges with the Taiwanese ruling party, with the self-ruled island facing military pressure from an increasingly assertive China.

In the meeting, the LDP welcomed Taipei's bid to join the Trans-Pacific Partnership free trade agreement between 11 Pacific Rim countries, which China has also applied to join, Masahisa Sato, chief of the LDP Foreign Affairs Division, told reporters.

[caltrek]

Nikkei up 4.9% in 2021, Highest Year-end Finish Since 1989
by Ayano Shimizu
December 30, 2021

https://english.kyodonews.net/news/2021 ... -1989.html

Introduction:

(Kyodo News) The benchmark Nikkei stock index on Thursday saw its highest year-end finish since 1989, with global monetary easing and solid earnings of manufacturers contributing to a 4.9 percent rise from a year before, despite lingering concerns about the coronavirus pandemic.

In the final trading session of the year, the 225-issue Nikkei Stock Average ended down 115.17 points, or 0.40 percent, from Wednesday at 28,791.71, but it marked the third straight year of increase. Japanese financial markets will be closed from Friday through Monday for the New Year holidays.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 6.66 points, or 0.33 percent, lower from the previous day at 1,992.33. It advanced 10.4 percent in 2021 and also reached its highest year-end close since 1989.

Further Extract:

The U.S. dollar briefly rose to 115.20 yen, its highest level in about a month, on increased risk appetite after the U.S. Dow stock index closed at a record high overnight, dealers said.
...
The euro was quoted at $1.1317-1318 and 130.27-31 yen against $1.1342-1352 and 130.45-55 yen in New York and $1.1300-1301 and 129.82-86 yen in Tokyo late Wednesday afternoon.

[caltrek]

Worrying Implications of The Japanese Yen’s Depreciation
by Wei Hongxu
April 18, 2022

https://www.eurasiareview.com/18042022- ... -analysis/

Introduction:

[(Eurasian Review) The depreciation of the Japanese yen has recently been attracting wide attention. With the yen softened to JPY 120 against the dollar, the Bank of Japan (BoJ) offered to buy unlimited amounts of 10-year Japanese government bonds (JGBs) at 0.25% on March 28, stepping into the market to defend its implicit yield cap for the second time in the year.

The move came after the 10-year JGB yield crept up to a six-year high of 0.245% in early trade, just a half of a basis point shy of the BoJ’s tolerance ceiling under its yield curve control policy. There is no doubt that BoJ’s move would further exacerbate the depreciation of the yen. That saw the dollar scale a fresh six-year peak of 123.03 yen, giving it a gain of 6.9% for the month. The Japanese currency fell as low as 124.81 at one point, nearing the JPY 125 mark. Meanwhile, the ailing euro rose 4% on the yen this month to 134.56. The euro has misplaced about 2.3% on the greenback in the identical interval, however at USD 1.0954 it is above the current two-year trough of USD 1.0804.

The fall in the yen has kept the U.S. dollar index to 99.098, up 2.5% for the month. The yen has been weakening recently with the fallout from the Russia-Ukraine conflict blighting currency markets, and has fallen close to 6% this year, the worst-performing G10. Researchers at ANBOUND pointed out that, as the Japanese currency continues to depreciate, the risk posed by this cannot be overlook. Furthermore, the fluctuations in the yen may cause changes, not only in the evolution of currency market structure, but also recalls the turbulence brought by the depreciation of the Japanese currency to Southeast Asian countries and other emerging markets. All in all, this is more likely to bring about profound changes in the global financial and monetary systems.

Most market players believe it is mainly due to the difference between the BoJ’s continued to take a persistent stance when it comes to monetary easing, and the Federal Reserve intensively tightening its monetary policy stance. United States 10-year Treasuries yields jumped 33 basis points last week and are up a staggering 67% basis points on the month at 2.49%.
/quote]