News

The government approved a bill that will restructure the Science Council of Japan into a special corporation with increased state oversight, despite concerns from the council about threats to its autonomy. Critics, including past SCJ presidents, argue that the move could mask past issues related to political interference and hinder the council’s role in revitalizing Japan's scientific achievements.

Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance, Japan's third and fourth largest non-life insurers, will merge in April 2027 to create the nation's largest non-life insurer, surpassing Tokio Marine & Nichido Fire Insurance in combined sales. The merger aims to address a shrinking market due to Japan's declining population and young people's decreasing car ownership by streamlining operations and improving efficiency.

U.S. President Donald Trump's announcement of increased tariffs on imports from various countries sent shockwaves through global markets, leading to sharp declines in Asian and U.S. futures markets. Economists warn that the tariffs could significantly raise the risk of a recession and further fuel inflation.

The Diet passed the 115.1978 trillion yen budget on the final day of fiscal 2024 after extensive revisions by the ruling coalition and negotiations with opposition parties. The process included amendments by both the Lower and Upper Houses, addressing measures such as free high school tuition and halting proposed increases in monthly out-of-pocket medical costs, while also involving scrutiny over a slush fund scandal.

Foreign investors drove Japanese long-term bond purchases to a two-year high, with net buys totaling 3.4 trillion yen, while short-term bonds experienced significant outflows amid concerns about U.S. tariff policies and falling equity markets. At the same time, Japanese investors retreated from foreign equities and long-term debt securities, offset slightly by purchases of short-term bills.