Japan Watch Thread

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wjfox
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Re: Japan Watch Thread

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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
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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.
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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.
Last edited by caltrek on Sun May 29, 2022 4:04 pm, edited 1 time in total.
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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.
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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.
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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
miho.inada@wsj.com
https://twitter.com/AlastairGale
alastair.gale@wsj.com
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.
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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
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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.
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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.
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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]
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