News

Former Prime Minister Fumio Kishida's office gave 100,000 yen gift certificates to parliamentary secretaries attending a social gathering at his official residence, raising questions about the practice within the ruling LDP. This follows Prime Minister Shigeru Ishiba's admission of distributing similar certificates to new Lower House members, suggesting a potential established custom.

The tradition of Japanese prime ministers handing out gift vouchers to newly elected members of the Lower House dates back to at least 2012, with some LDP politicians confirming receiving them from Abe after their first election. However, the practice has come under scrutiny recently, with opposition lawmakers questioning its legality and appropriateness.

Nissan CEO Makoto Uchida is stepping down after a tumultuous period marked by financial struggles, failed merger talks with Honda, and the lingering impact of the Carlos Ghosn scandal. Ivan Espinosa, a veteran Nissan executive with extensive experience in product planning and electric vehicles, will take the helm on April 1st, tasked with navigating the company through a critical juncture and restoring its financial health.

Asian markets were mixed on Tuesday, with Chinese markets retreating after a strong rally on Wall Street fueled by hopes of a more targeted approach to tariffs by the Trump administration. The S&P 500 jumped 1.8% on Monday, but remains down 1.9% for the year due to concerns about the potential impact of a trade war.

Russia has permanently banned nine Japanese citizens, including Foreign Minister Takeshi Iwaya, from entering the country in retaliation for Japan's sanctions related to the Ukraine conflict. This follows similar bans on 13 Japanese nationals in July 2024, reflecting Russia's use of entry bans as a response to international opposition.