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Almost from the moment he was sworn in as Bank of Japan governor, Kazuo Ueda sounded like a guy who wanted to be done with negativity. It just wasn’t obvious why. As the BOJ this week considers a third tightening, his argument for raising interest rates has become clear — in case they need to be cut later. It has a certain circularity to it. But now the bank is forging further into positive territory, the path ahead is much trickier and the potential for a mistake far greater. One of his first acts as governor in 2023 was to commission a report into the successes and shortcomings of the institution’s response to the so-called lost decades. This period lasted from roughly the last years of the 20th century through to Ueda’s ascent. His distaste for negative borrowing costs, a radical step undertaken by his predecessor Haruhiko Kuroda, is clear in the document’s findings that were released in late December. Rates below zero may have made sense in an era when deflation was public enemy number one, but the sooner they were consigned to the history books, the better. Source link

The fires in and around Los Angeles are coming under control. The city’s mayor has already issued an executive order to speed up rebuilding. But equally catastrophic blazes are likely to strike again on a hotter planet, raising the question of whether some parts of the region should still be considered livable. It’s not an unthinkable notion. There have been a handful of attempts at systematically moving populations away from regions severely affected by climate change. This kind of “managed retreat” has typically been applied to risks from rising sea levels, with recent programs in the U.S. involving relocating tribal populations in Alaska and Washington. But people affected by wildfires are only just starting to see efforts from governments to help them to move away from high-risk areas, including in Los Angeles County. A California program launched last year that offered up to $350,000 in loans to those affected by fires in 2018 and 2020 to shift to safer places fully allocated its funds within weeks. Source link

Police are searching for a suspect who fled after a stabbing at JR Nagano Station on Wednesday night that left one person dead and two others injured. The attack happened around 8 p.m. outside the station where a man armed with what appeared to be a knife targeted three people, according to public broadcaster NHK. Police said the victims — a woman and two men — were waiting at the bus rotary on the station’s north side when the assailant struck. A man in his 40s was stabbed in the left side of his abdomen and went into cardiac arrest. He was transported to a nearby hospital, but was pronounced dead shortly after 10 p.m. Source link

Electricity demand in Hokkaido is expected to grow the fastest in the country, as the region prepares to roll out energy-intensive data centers and semiconductor chip-making plants. Annual power demand for Hokkaido is expected to increase by 1.2% on average into fiscal 2034, the Organization for Cross-Regional Coordination of Transmission Operators, or OCCTO, said in a report released on Wednesday. That compares with an average annual rise of 1.1% for the Tokyo area and 0.6% nationwide. The forecast is part of a growing consensus that Japan’s power demand — which had been in decline — is set to rise despite a shrinking population, highlighting a need to boost energy security. Hokkaido is attracting investments for data centers and semiconductor chip-makers. Japan’s state-backed Rapidus is scheduled to begin producing chips there in 2027, while companies like SoftBank have plans to build data centers. This will put more focus on the future of the Tomari nuclear power plant, operated by Hokkaido Electric Power. The plant’s three reactors are undergoing evaluation by the nation’s atomic regulator for safety, a stringent process that could take years. Hokkaido is also seen as a promising site for renewable energy projects such as offshore wind, with auctions taking place to select developers. Electricity demand in Hokkaido is estimated to be around 31 terawatt hours in fiscal 2034, rising about 12% from fiscal 2025, according to the report. Demand in the Tokyo area is set to rise to around 288 terawatt hours by then as some companies look to build data centers near the nation’s capital. Source link

Amid the global cocoa shortage, department stores in Japan are focusing more on unorthodox items, even curry, rather than chocolate candies to meet Valentine’s Day customer demand this year. Giving chocolates to express love or gratitude is a Feb. 14 norm. But according to a pastry shop owner, the total costs for chocolate products, including those for packing materials, “have doubled.” To overcome the challenge, department stores are diversifying Valentine’s Day treat lineups. Between Jan. 31 and Feb. 14, Matsuya’s Ginza store in Tokyo’s Chuo Ward will offer “Mole Sauce Curry” featuring chocolate roux mixed with Mexico’s traditional mole sauce and steamed cacao bean rice. The dish, priced at ¥1,430, will be cooked and served at the store. Takashimaya is doubling its range of baked goods with chocolate, including “Sable au Chocolat” cookies and rose-shaped madeleines with chocolate on top from famous Spanish chocolate shop Cacao Sampaka. Chocolate-infused curry is being being sold by Matsuya Ginza in Tokyo between Jan. 31 and Feb. 14 to mark Valentine’s Day. | Jiji Sogo & Seibu is preparing a full lineup of cookies and Basque cheesecakes using cocoa powder, while Tobu Department Store’s flagship Ikebukuro store in the capital’s Toshima Ward is focusing on freeze-dried fruits soaked in liquid chocolate and heart-shaped cookies. According to a survey by the Matsuya Ginza store, customers plan to spend ¥14,868 in total per person on Valentine’s Day chocolates this year, up only slightly from the previous year. But when it comes to gifts people buy for themselves, the average chocolate budget jumps 2.4 times to ¥9,277. Anticipating strong “self-reward” demand, department stores will also offer premium chocolate products made by famous overseas pastry chefs in the upcoming shopping season. Source link

Melbourne – Defending champion Jannik Sinner put any illness worries to bed by crushing home hope Alex de Minaur in a straight-sets rout to tee up an Australian Open semifinal against Ben Shelton. The Italian world No. 1 showed no signs of the health issues that hampered him in his last match to emphatically fly past the eighth seed 6-3, 6-2, 6-1 at Rod Laver Arena. He will meet stubborn American Shelton for a place in Sunday’s final against either 10-time champion Novak Djokovic or second seed Alexander Zverev. Source link

The ruling coalition of the Liberal Democratic Party and Komeito agreed Wednesday to hold discussions on the introduction of a dual surname system for married couples. Prime Minister and LDP President Shigeru Ishiba and Komeito leader Tetsuo Saito reached the agreement during a lunch meeting at the prime minister’s office. However, they stopped short of deciding when to begin discussions on the issue, as Ishiba cited the need to build a consensus within the LDP, according to Saito, who spoke to reporters after the lunch meeting. Saito quoted Ishiba as saying that he would like Komeito to wait a little more, and that he aims to prepare an LDP proposal on the issue as soon as possible in order to begin talks with the coalition partner. “We should begin talks in January at the earliest,” Saito said. Meanwhile, during the meeting, Saito urged Ishiba to decide for Japan to participate as an observer in a meeting of the parties to the Treaty on the Prohibition of Nuclear Weapons to be held in the United States in March. In response, Ishiba said that the government has completed a study of countries, including Germany, that have attended such meetings as observers and will inform Komeito of the results of the study. Source link

Yokohama – Naoya Inoue admitted the late change in opponents for his upcoming title defense messed up his training schedule. The undisputed world super bantamweight champion, however, does not view it as a hurdle to overcome. In fact, he thinks the strange leadup to the bout may actually work to his advantage in the long run. Inoue (28-0, 25 KOs) was supposed to face Australian Sam Goodman on Christmas Eve. Instead, he will defend his belts against South Korean Kim Ye-joon, who stepped in after Goodman was injured in training, at Ariake Arena on Friday. Source link

Around the beginning of each year, I customarily write a column about how we’ve just had the “best year ever” in the long history of humanity. This annual eruption of exuberance outrages some readers who see it as disrespectful of all the tragedies around us. Others welcome it as a reminder that even in our messed-up world, many trends are still going right. So this year, I heard from readers asking: Where’s your “best year ever” column? Source link

The alleged sexual misconduct of a former boy band member turned TV host has prompted Fuji TV and other broadcasters to look into whether there has been any impropriety or exploitative practices involving celebrities and their employees. Fuji Media Holdings has said it will hold an extraordinary board meeting on Thursday, adding any decision that ought to be made public would be disclosed promptly. Following a news conference by Fuji TV last Friday, Dalton Investments — which controls over 7% of shares in the broadcaster’s owner, Fuji Media Holdings — sent a letter on Tuesday to the parent company, likening the hastily convened briefing to a “virtual car crash” and demanded it hold a news conference open to all media. Source link