News

Land prices in Tokyo rose for the fourth consecutive year in 2024, with the average price increase across the capital reaching 7.3%. This increase was driven by strong demand for condominiums, particularly in central Tokyo, and a surge in commercial land prices fueled by tourism and residential development.

Nissan's CEO, Makoto Uchida, has stepped down following the company's disappointing financial performance and the collapse of merger talks with Honda. Uchida's departure marks the end of an era for Nissan, and Ivan Espinosa, currently the company's chief planning officer, will take over as CEO on April 1st.

Defense Ministers Gen Nakatani of Japan and Pete Hegseth of the United States will attend a joint memorial service on Iwoto Island, marking 80 years since the end of World War II. This historic event symbolizes the reconciliation and strong alliance between the two nations, a stark contrast to their past as wartime foes.

Land prices in Hokkaido soared in 2024, driven by foreign demand for vacation homes and hotels, particularly in the Niseko resort area where prices have nearly tripled compared to other popular destinations. The influx of tourists has also created a housing shortage for workers, leading to the construction of dormitories for corporate clients.

The Bank of Japan decided to keep interest rates unchanged due to increasing uncertainties surrounding U.S. economic policies under the Trump administration. The central bank will continue to assess the situation and determine future policies based on the development of U.S. trade policies and their impact on the U.S. and Japanese economies.