News

Land prices in Tokyo rose for the fourth consecutive year in 2024, with an average increase of 7.3% driven by high demand for condominiums and increased foreign visitors. The 23 wards in central Tokyo saw the most significant increase, while commercial land prices also saw a double-digit rise for the first time since 2008.

Trade Minister Yoji Muto's visit to Washington failed to secure assurances from the U.S. administration that Japan would be exempt from the planned tariffs on steel, aluminum, and automobiles. Despite emphasizing Japan's contributions to the U.S. economy, Muto was unable to obtain a definitive answer on the exemptions and will continue to advocate for Japan's position in future discussions.

Nissan Motor Corp. tested self-driving cars on city roads in Yokohama, Japan, aiming to develop transportation services using autonomous driving technologies within three years. The experiment involved a modified Serena minivan equipped with cameras, radar, and computers, driven at Level 2 with remote assistance and a safety assistant onboard.

Asian markets surged on Monday, following a strong rally on Wall Street and the release of better-than-expected factory data from China. The positive sentiment was driven by Friday's strong performance on Wall Street, where the S&P 500 index jumped 2.1% after experiencing its first "correction" since 2023.

Hyundai and General Motors are close to finalizing a deal for Hyundai to share two electric commercial van models with GM, while GM might provide Hyundai with pickup trucks to sell under its own brand in North America. This potential partnership could extend beyond vans and trucks, with discussions including joint purchasing or development of computing chips, next-generation batteries, and battery materials.