All national dailies reported on Prime Minister Kishida’s instruction to cabinet ministers on Tuesday to compile a package of emergency economic measures by the end of April to cope with soaring oil and food prices as a result of the war in Ukraine. Kishida told the ministers that his government will act swiftly and flexibly to mitigate the impact of….Read more

Tokyo, March 23 (Jiji Press)–Japanese Prime Minister Fumio Kishida said on Wednesday that he will order fresh economic measures as early as next week aimed at cushioning the impact of higher commodity prices.   “We have to respond firmly to higher oil and raw materials prices as well as price increases,” Kishida told reporters. “I’ll issue an order as early….Read more

The world economy is facing a major transitional phase.   Japan should be on the lookout for possible repercussions on its economy and accelerate efforts to create a virtuous cycle of growth driven by wage hikes. The U.S. Federal Reserve decided at a March 16 policy meeting to raise interest rates for the first time in more than three years.….Read more

All national dailies wrote that parliamentary deliberations on the GOJ-sponsored bill aimed at enhancing economic security started at the Lower House yesterday. The Kishida administration is reportedly seeking the swift passage of the legislation with China’s relentless pursuit of tech hegemony and the Russian invasion of Ukraine in mind. The prime minister explained that the legislation is intended to “ensure….Read more

By Kanehara Nobukatsu, Special Visiting Professor at Doshisha University   What is “economic security?” It is not a new area of specialization. I consider it a broad area, a mixture of security policy–especially military policy–with science and technology policy and industrial policy.   Today in the 21st century, great advances in science and technology are about to revolutionize the world….Read more

By Tomoda Takehiro and Abe Ryutaro　   The Japan Business Federation (Keidanren) has issued an opinion on the government’s draft bill on economic security, a bill for which the government aims to obtain cabinet approval this month. In its opinion, Keidanren recognized the need for economic security, but it cautioned that “[the government] should not impose excessive restrictions on business….Read more

Businesses and private sector researchers could face up to a two-year prison term if they leak sensitive technologies and undermine safeguards against cyberattacks, according to the draft of the economic security bill, sources said.   But business circles and Komeito, a junior partner of the ruling coalition, have expressed concerns about the government’s increased oversight powers granted under the legislation.….Read more

TETSUSHI TAKAHASHI, editor, Economic News Group   TOKYO — The announcement that the price of Umaibo will be raised for the first time since the beloved snack was introduced has sent shock waves through Japanese kid-dom.   Umaibo, which are sticks of airy puffed corn that come in a variety of flavors, in April will cost 12 yen (10 cents)….Read more

TOKYO – It is “too early” for the Bank of Japan to tighten monetary policy as the economy’s recovery from the coronavirus pandemic has just begun, Deputy Governor Masazumi Wakatabe said Thursday.   Wakatabe’s statement came as some financial market players have suggested that the BOJ should move toward tightening monetary policy before achieving its 2 percent inflation target to….Read more

Nikkei reported that Prime Minister Kishida sent a video message to an international symposium on semiconductors that opened in Tokyo on Wednesday. The premier reportedly stressed that the GOJ will team up with the private sector to invest over 1.4 trillion yen ($12.2 billion) to help Japanese and foreign companies produce semiconductors in Japan. “Semiconductors are one of the most important elements for realizing economic growth and scientific….Read more