News

U.S. President Donald Trump questioned the U.S.-Japan treaty alliance, stating that the U.S. is obligated to protect Japan while Japan is not obligated to protect the U.S. This statement was disputed by experts who noted Japan's ability to exercise collective self-defense under certain circumstances.

Prime Minister Shigeru Ishiba cautioned G7 nations against sending the wrong message to Russia during peace negotiations, emphasizing the need for unity and continued support for Ukraine. He also condemned Russia's military cooperation with North Korea and expressed confidence in diplomatic efforts to find a solution to the conflict.

Japan's largest labor union umbrella group, Rengo, is demanding the biggest salary increase in over 30 years, with member unions seeking an average wage hike of 6.09% for this year. This demand comes as both the government and central bank are looking for signs of sustainable wage growth to drive the economy.

Prime Minister Shigeru Ishiba, Komeito head Tetsuo Saito, and Nippon Ishin leader Hirofumi Yoshimura signed an agreement on February 25th to amend the government's draft initial budget for fiscal 2025. This agreement marks the first time in 29 years that a draft initial budget will be revised through talks between the ruling and opposition parties at the Diet.

Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store chain, has announced a change of CEO and plans to restructure its business in the face of a $47 billion foreign takeover bid. The company will buy back shares, pursue a listing of its North American subsidiary, sell its superstore unit, and reduce its ownership of Seven Bank.