From COVID-19 to a weak yen, a confluence of global economic forces has led the price of one of Japan’s favorite sushi toppings to surge.
Many chain sushi restaurants, izakaya pubs and other affordable eateries serve frozen bigeye tuna, a cheaper alternative to the fresh bluefin often served at high-end restaurants. The price for frozen bigeye averaged 1,443 yen ($10.20) per kilogram at Tokyo’s Central Wholesale Market in September — up 13% from a year earlier, and around 60% higher than two years ago.
The jump largely stems from disruptions to the fishing industry caused by COVID-19.
While many deep-sea boats used to catch tuna are captained by Japanese nationals, the vast majority of the crew usually come from Indonesia and other Southeast Asian countries. Coronavirus border curbs prevented many of them from entering Japan.
…continue reading
New banknotes put to the test
TV Asahi – Nov 22
The National Printing Bureau in Tokyo is testing whether supermarket cash registers, vending machines, ATMs, etc. can read new banknotes without problems ahead of issuance in 2024.
Japan retains stake in Russia’s Sakhalin 1 oil project
Japan Today – Nov 16
Japan has retained its stake in the Sakhalin 1 oil and gas project in eastern Russia, with a Japanese company receiving a 30 percent stake in a new Russian operator, Tass news agency reported Monday.
Japan Q3 GDP shrinks as high inflation, weakening yen bite
investing.com – Nov 15
The Japanese economy unexpectedly shrank in the third quarter, preliminary data showed on Tuesday, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country.
Toyota joins other Japan companies to make next-generation chips
Nikkei – Nov 11
Toyota Motor and around nine other Japanese companies will team up with the government to launch a new entity to develop and make next-generation semiconductors, Nikkei has learned, aiming to establish manufacturing processes by the late 2020s.
Business Page: 1 | 2 | 3 | 4 | 5 | 6 | 7