News

Japan's Lower House passed the initial budget for fiscal 2025, marking a victory for Prime Minister Shigeru Ishiba and his minority government. The budget includes the largest general account ever and revisions to provide free high school education, secured with the support of the opposition Nippon Ishin party.

Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store chain, has appointed its first foreign CEO, Stephen Dacus, and announced a major restructuring plan in response to a $47 billion takeover bid and investor pressure. The company aims to fend off the bid, improve capital allocation, and pursue an independent path to recovery under Dacus' leadership.

Prime Minister Shigeru Ishiba apologized for giving gift certificates to newly elected lawmakers, but opposition parties and his coalition partner criticized the move, questioning its legality and ethics. The controversy has raised concerns about Ishiba's leadership and the LDP's culture of gift-giving.

Asian shares mostly rose on Tuesday, March 18, 2025, as investors were encouraged by another rally on Wall Street and awaited decisions from the Bank of Japan and the U.S. Federal Reserve on interest rates. Meanwhile, trading on the Indonesia stock exchange was suspended temporarily due to a sharp decline in the benchmark JSX.

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 measures taken against other countries, including the U.S. and Canada, as Moscow employs entry bans as a tactic against those who oppose its military campaign in Ukraine.