News

Japan's largest labor union, Rengo, is demanding the biggest salary increase in over 30 years, seeking an average wage hike of 6.09% for this year, as both the government and central bank look for signs of sustainable wage growth to drive the economy. This demand could lead to another year of sizeable wage increases, potentially narrowing the income gap between workers at smaller and larger firms.

Japan's Ministry of Agriculture plans to export 350,000 tons of rice in 2030 to address future shortages and position exports as an "adjustment valve" for domestic supply. This initiative aims to increase rice exports to 1 million tons by 2040, ensuring greater flexibility in redirecting rice to the domestic market during shortages.

Major discount store operator Trial Holdings Inc. will acquire supermarket company Seiyu Co. for about 380 billion yen ($2.5 billion), expanding its business areas to the Kanto and Chubu regions. The acquisition will make Seiyu a wholly owned subsidiary of Trial, creating the sixth-largest domestic retailer with annual sales of approximately 1.2 trillion yen.

Japan's new family registration system allows individuals from Taiwan to list Taiwan as their place of origin, sparking a strong reaction from China which claims Taiwan as its own territory. This change coincides with the introduction of phonetic readings in hiragana above kanji characters to aid pronunciation.

Prime Minister Shigeru Ishiba apologized for giving gift certificates to newly elected lawmakers, sparking criticism from opposition parties who called it a violation of the Political Fund Control Law and indicative of a problematic culture within the LDP. The incident has raised concerns about transparency and accountability within the party.