DNA analysis of a dying old man, done after his death, has confirmed that he was Japan's most wanted fugitive, said Japanese police on Tuesday (Feb 27). The DNA test confirmed the man's confession when he was on the deathbed in a hospital last month. Satoshi Kirishima was wanted for decades and was a former member of a radical leftist group in Japan which was behind fatal bomb attacks in the 1970s. This means that Kirishima was wanted for nearly 50 years.

"The person who died at the hospital on January 29 was confirmed to be Satoshi Kirishima himself", a Tokyo police spokesman told AFP on Tuesday.

Kirishima's bespectacled, smiling mugshot was a common sight outside police stations in Japan.

Watch | India-Japan hold Exercise Dharma Guardian in Rajasthan

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His name, and the entire saga, hit the headlines in Japan again last month when a terminally ill man made a confession in a hospital outside Tokyo that he was Kirishima. The hospital immediately alerted the police, but the man died in a few days.

The Tokyo police have now sent five case files connected to Kirishima to the Tokyo District Public Prosecutor's office

In one of those cases, Kirishima is accused of having planted a homemade bomb. The explosion in Tokyo's Ginza district blew away parts of a building in April 1975.

Also Read | <a href="https://www.wionews.com/world/rise-of-baito-tero-japans-part-time-terrorism-spark-outrage-with-social-media-stunts-694693">Rise of 'Baito Tero': Japan's part-time worker 'terrorism' sparks outrage with social media stunts</a>

Reports in local media suggest that police interrogated Kirishima shortly before his death. He mentioned details about his personal life and the extremist group which only he would have known, further cementing the conclusion that the man was indeed Kirishima.

In his younger days, he was a member of the East Asia Anti-Japan Armed Front. The radical Leftist group was behind a series of fatal bomb attacks on companies. One such&nbsp;attack was aimed at Mitsubishi Heavy Industries.

"I want to meet my death with my real name," he reportedly told staff at the hospital before his death.&nbsp;

(With inputs from&nbsp;agencies)

DNA analysis of a dying old man, done after his death, has confirmed that he was Japan's most wanted fugitive, said Japanese police on Tuesday (Feb 27). The DNA test confirmed the man's confession when he was on the deathbed in a hospital last month.

DNA analysis of a dying old man, done after his death, has confirmed that he was Japan's most wanted fugitive, said Japanese police on Tuesday (Feb 27). The DNA test confirmed the man's confession when he was on the deathbed in a hospital last month. Satoshi Kirishima was wanted for decades and was a former member of a radical leftist group in Japan which was behind fatal bomb attacks in the 1970s. This means that Kirishima was wanted for nearly 50 years. "The person who died at the hospital on January 29 was confirmed to be Satoshi Kirishima himself", a Tokyo police spokesman told AFP on Tuesday. Kirishima's bespectacled, smiling mugshot was a common sight outside police stations in Japan. Watch | India-Japan hold Exercise Dharma Guardian in Rajasthan × His name, and the entire saga, hit the headlines in Japan again last month when a terminally ill man made a confession in a hospital outside Tokyo that he was Kirishima. The hospital immediately alerted the police, but the man died in a few days. The Tokyo police have now sent five case files connected to Kirishima to the Tokyo District Public Prosecutor's office In one of those cases, Kirishima is accused of having planted a homemade bomb. The explosion in Tokyo's Ginza district blew away parts of a building in April 1975. Also Read | Rise of 'Baito Tero': Japan's part-time worker 'terrorism' sparks outrage with social media stunts Reports in local media suggest that police interrogated Kirishima shortly before his death. He mentioned details about his personal life and the extremist group which only he would have known, further cementing the conclusion that the man was indeed Kirishima. In his younger days, he was a member of the East Asia Anti-Japan Armed Front. The radical Leftist group was behind a series of fatal bomb attacks on companies. One such attack was aimed at Mitsubishi Heavy Industries. "I want to meet my death with my real name," he reportedly told staff at the hospital before his death. (With inputs from agencies)

Satoshi Kirishima: DNA test confirms dying man was one of Japan's most wanted

In Japan, a new kind of trouble is brewing in the realm of part-time work, and it's got a name: "baito tero."&nbsp;The term, a blend of "arubaito" (part-time work) and "terrorism," doesn't involve explosions or violence, but it's making waves nonetheless.

So what is baito tero? Imagine the wildest antics you could see on social media, now picture them happening in your favorite restaurants and convenience stores, courtesy of their own part-time employees.&nbsp;

These workers, seeking a moment of online fame, are resorting to shocking acts – from hygiene violations to food tampering – and proudly posting on social media their misdeeds for the world to see.

But why the sudden spotlight on this phenomenon? While "baito tero" isn't new, recent incidents thrust it back into the limelight, sparking widespread condemnation across Japanese media.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/alibaba-owned-daraz-enacts-layoffs-amid-restructuring-694681">Alibaba owned Daraz, enacts layoffs amid restructuring</a>

In one appalling case, a Domino's Pizza employee caused an uproar by uploading a video of himself contaminating pizza dough with, of all things, nasal excretions.

Another incident involved a mischievous restaurant worker filming himself squirting whipped cream, intended for customers' desserts, into a colleague's mouth.

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Such acts strike at the heart of Japan's obsession with cleanliness and customer satisfaction.

Domino's Pizza Japan was quick to respond, assuring the public that all contaminated dough had been disposed off, while issuing a heartfelt apology.

Watch |&nbsp;<a href="https://www.wionews.com/videos/london-worlds-most-exposed-city-to-air-pollution-from-aviation-study-694667">London world's most exposed city to air pollution from aviation: Study</a>

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But what can businesses do to combat this alarming trend?

The battle against "part-timer terrorism" is multifaceted. Some companies are turning to innovative solutions, like "reputation expense insurance," which covers costs associated with online scandals. Others are taking legal action, with culprits facing possible imprisonment and hefty fines.

(With inputs from agencies)

In Japan, a new kind of trouble is brewing in the realm of part-time work, and it's got a name: "baito tero." The term, a blend of "arubaito" (part-time work) and "terrorism," doesn't involve explosions or violence, but it's making waves nonetheless.

In Japan, a new kind of trouble is brewing in the realm of part-time work, and it's got a name: "baito tero." The term, a blend of "arubaito" (part-time work) and "terrorism," doesn't involve explosions or violence, but it's making waves nonetheless. So what is baito tero? Imagine the wildest antics you could see on social media, now picture them happening in your favorite restaurants and convenience stores, courtesy of their own part-time employees. These workers, seeking a moment of online fame, are resorting to shocking acts – from hygiene violations to food tampering – and proudly posting on social media their misdeeds for the world to see. But why the sudden spotlight on this phenomenon? While "baito tero" isn't new, recent incidents thrust it back into the limelight, sparking widespread condemnation across Japanese media. Also Read | Alibaba owned Daraz, enacts layoffs amid restructuring In one appalling case, a Domino's Pizza employee caused an uproar by uploading a video of himself contaminating pizza dough with, of all things, nasal excretions. Another incident involved a mischievous restaurant worker filming himself squirting whipped cream, intended for customers' desserts, into a colleague's mouth. Also Read | New Zealand TV Network Three plans newsroom closure, 200 jobs at risk Such acts strike at the heart of Japan's obsession with cleanliness and customer satisfaction. Domino's Pizza Japan was quick to respond, assuring the public that all contaminated dough had been disposed off, while issuing a heartfelt apology. Watch | London world's most exposed city to air pollution from aviation: Study × But what can businesses do to combat this alarming trend? The battle against "part-timer terrorism" is multifaceted. Some companies are turning to innovative solutions, like "reputation expense insurance," which covers costs associated with online scandals. Others are taking legal action, with culprits facing possible imprisonment and hefty fines. (With inputs from agencies)

Rise of 'Baito Tero': Japan's part-time worker 'terrorism' sparks outrage with social media stunts

Meta CEO Mark Zuckerberg is a man of many talents and on his Asia tour he decided to add another to the list with the help of Japanese sword Masters. He was seen crafting a traditional Japanese sword, take a look at the report! Watch to know more!

Mark Zuckerberg Asia Tour: Meta chief learns sword making during Japan visit

Japan recorded a new record low in the number of births for an eighth consecutive year in 2023, according to preliminary government data. The data revealed a 5.1% decline in the number of births from the previous year, reaching 758,631.

Japan's new birth rate hits all-time low in 2023

The fifth edition of the joint military exercise Dharma Guardian between the Indian army and the Japan grounded self-defense force are now underway. 40 Personnel from each country members of the Rajputana rifles from India and the 34th Infantry Regiment from Japan are participating in the 14th exercise. Watch to know more!

India-Japan joint exercise 'Dharma Guardian' underway, focus on joint planning & tactical drills

Meta CEO Mark Zuckerberg recently took a sword-making lesson from a Japanese sword master. He shared a video of himself making a katana, a traditional Japanese sword known for its sharpness.

Meta CEO Mark Zuckerberg learns sword-making in Japan

For the fifth edition of the joint military exercise 'Dharma Guardian' between the Indian Army and the Japan's Self Defence Force is now underway. 40 personnel from each country participate in the exercise.

India-Japan joint exercise 'Dharma Guardian' underway, 40 personnel each from India & Japan's side

Japan's semiconductor industry is receiving a significant boost due to the expansion of Taiwanese chip companies. At least nine Taiwanese chip companies have expanded into Japan over the past two years.

Taiwan fuels Japan's semiconductor reviva

Japan's Nikkei index surged to remarkable heights on Friday, inching closer to its all-time peak last seen during the country's economic bubble in the 1980s, signalling renewed investor confidence and buoyancy in the market. <o:p></o:p>

The index soared past post-bubble records, with the Nikkei share average closing at a 34-year high of 38,487.24, reflecting a robust 0.86 per cent increase for the day, and an impressive 14.0 per cent surge year-to-date.<o:p></o:p>

"The speed (at which the Nikkei is rising) is faster than I had expected, but I think it's justified" given fundamental improvements such as corporate governance reform, noted Kenji Abe, an analyst at Daiwa Securities, highlighting the market's response to structural changes within Japan's corporate landscape. <o:p></o:p>

The ascent saw 190 of the index's 225 constituents advancing, indicating broad-based optimism among investors, while only 34 declined, showcasing a robust market sentiment.<o:p></o:p>

Contributing to the market's bullish trajectory were key players in Japan's corporate landscape. <o:p></o:p>

Heavyweights like Toyota Motor, Fast Retailing, and Recruit Holdings saw notable gains, with Toyota Motor recording a 0.95 per cent increase, Fast Retailing up by 1.08 per cent, and Recruit Holdings rallying by 4.0 per cent, bolstering overall market sentiment.<o:p></o:p>

Even semiconductor equipment manufacturer Tokyo Electron, which initially struggled, managed to clinch a 0.4 per cent gain during the trading session, further underscoring the market's resilience.<o:p></o:p>

Bandai Namco Holdings Inc emerged as the top performer, witnessing an 8.05 per cent surge following a previous day's downturn, signalling dynamic shifts within specific sectors of Japan's market landscape. <o:p></o:p>

Moreover, the oil and coal products subindex rallied by 3.96 per cent, spearheading sectoral gains after a surge in oil prices overnight, accentuating the market's adaptability to global economic dynamics.<o:p></o:p>

However, amid the market euphoria, investors remained vigilant over Japan's economic indicators, particularly in light of Thursday's unexpected revelation of the country slipping into a recession at the end of the previous year. <o:p></o:p>

This development prompted scrutiny over the Bank of Japan's (BOJ) monetary policy outlook, with Governor Kazuo Ueda affirming the central bank's commitment to evaluating its monetary easing measures, including negative interest rates, as it navigates toward achieving its inflation target.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Japan's Nikkei index surged to remarkable heights on Friday, inching closer to its all-time peak last seen during the country's economic bubble in the 1980s, signalling renewed investor confidence and buoyancy in the market.

Japan's Nikkei index surged to remarkable heights on Friday, inching closer to its all-time peak last seen during the country's economic bubble in the 1980s, signalling renewed investor confidence and buoyancy in the market. The index soared past post-bubble records, with the Nikkei share average closing at a 34-year high of 38,487.24, reflecting a robust 0.86 per cent increase for the day, and an impressive 14.0 per cent surge year-to-date. "The speed (at which the Nikkei is rising) is faster than I had expected, but I think it's justified" given fundamental improvements such as corporate governance reform, noted Kenji Abe, an analyst at Daiwa Securities, highlighting the market's response to structural changes within Japan's corporate landscape. The ascent saw 190 of the index's 225 constituents advancing, indicating broad-based optimism among investors, while only 34 declined, showcasing a robust market sentiment. Contributing to the market's bullish trajectory were key players in Japan's corporate landscape. Heavyweights like Toyota Motor, Fast Retailing, and Recruit Holdings saw notable gains, with Toyota Motor recording a 0.95 per cent increase, Fast Retailing up by 1.08 per cent, and Recruit Holdings rallying by 4.0 per cent, bolstering overall market sentiment. Even semiconductor equipment manufacturer Tokyo Electron, which initially struggled, managed to clinch a 0.4 per cent gain during the trading session, further underscoring the market's resilience. Bandai Namco Holdings Inc emerged as the top performer, witnessing an 8.05 per cent surge following a previous day's downturn, signalling dynamic shifts within specific sectors of Japan's market landscape. Moreover, the oil and coal products subindex rallied by 3.96 per cent, spearheading sectoral gains after a surge in oil prices overnight, accentuating the market's adaptability to global economic dynamics. However, amid the market euphoria, investors remained vigilant over Japan's economic indicators, particularly in light of Thursday's unexpected revelation of the country slipping into a recession at the end of the previous year. This development prompted scrutiny over the Bank of Japan's (BOJ) monetary policy outlook, with Governor Kazuo Ueda affirming the central bank's commitment to evaluating its monetary easing measures, including negative interest rates, as it navigates toward achieving its inflation target. (With inputs from Reuters)

Nikkei surges to near all-time high, driven by market optimism and corporate gains

<o:p></o:p>

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. <o:p></o:p>

According to a report by AP news, the recall, announced by the Japanese automaker, encompasses specific Toyota Tundra pickups, Sequoia SUVs, and Lexus LX 600 SUVs manufactured between 2022 and 2024.<o:p></o:p>

According to Toyota, certain components within the vehicles' automatic transmissions may fail to disengage promptly when shifted into neutral, potentially allowing engine power to continue reaching the wheels. <o:p></o:p>

This flaw could result in the vehicles unintentionally moving forward at low speeds on level surfaces, posing an increased risk of accidents if brakes are not applied promptly.<o:p></o:p>

While Toyota has not disclosed any incidents or injuries related to the transmission issue, the company is taking proactive measures to mitigate potential risks.<o:p></o:p>

As part of the recall process, Toyota plans to notify affected vehicle owners by late April and provide necessary updates to the transmission software to rectify the underlying problem. <o:p></o:p>

By updating the software, Toyota aims to ensure the prompt disengagement of the transmission when shifted into neutral, thus preventing any unintended vehicle movement.<o:p></o:p>

This recall announcement is one of three safety recalls issued by Toyota on the same day. <o:p></o:p>

In addition to the transmission issue, Toyota is recalling around 19,000 vehicles due to a software glitch affecting the rearview camera display. <o:p></o:p>

Another recall involves approximately 4,000 Toyota Camry and Camry Hybrid vehicles over safety concerns related to the rear fold-down seat head restraints.<o:p></o:p>

Despite being the world's largest automaker by sales, Toyota has faced safety challenges in recent months, including previous recalls related to airbag deployment issues and safety test forgery by its subsidiary Daihatsu. <o:p></o:p>

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral.

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. According to a report by AP news, the recall, announced by the Japanese automaker, encompasses specific Toyota Tundra pickups, Sequoia SUVs, and Lexus LX 600 SUVs manufactured between 2022 and 2024. According to Toyota, certain components within the vehicles' automatic transmissions may fail to disengage promptly when shifted into neutral, potentially allowing engine power to continue reaching the wheels. This flaw could result in the vehicles unintentionally moving forward at low speeds on level surfaces, posing an increased risk of accidents if brakes are not applied promptly. While Toyota has not disclosed any incidents or injuries related to the transmission issue, the company is taking proactive measures to mitigate potential risks. As part of the recall process, Toyota plans to notify affected vehicle owners by late April and provide necessary updates to the transmission software to rectify the underlying problem. By updating the software, Toyota aims to ensure the prompt disengagement of the transmission when shifted into neutral, thus preventing any unintended vehicle movement. This recall announcement is one of three safety recalls issued by Toyota on the same day. In addition to the transmission issue, Toyota is recalling around 19,000 vehicles due to a software glitch affecting the rearview camera display. Another recall involves approximately 4,000 Toyota Camry and Camry Hybrid vehicles over safety concerns related to the rear fold-down seat head restraints. Despite being the world's largest automaker by sales, Toyota has faced safety challenges in recent months, including previous recalls related to airbag deployment issues and safety test forgery by its subsidiary Daihatsu.

Toyota issues recall for 280,000 vehicles over transmission flaw: Report

US charged the leader of a Japanese crime syndicate Takeshi Ebisawa with conspiring to traffic nuclear materials from Myanmar for expected use by Iran in nuclear weapons. Watch in for more details!

US charges Japanese crime syndicate leader Takeshi Ebisawa

US charges Takeshi Ebisawa with nuclear materials trafficking

The cherry blossom season in Japan is one of the most highly anticipated in the calendar. This year, cherry blossoms are in full bloom earlier than usual. The early arrival of the delicate white-pink flowers has raised concerns.

Japan: Early blooms for cherry blossoms as temperature rises

Japan has successfully launched a spacecraft designed to inspect and potentially remove man-made space debris from around the Earth, said a statement from Astroscale Japan on Monday.

Japan launches debris removal spacecraft to tackle space junk

Japan has successfully launched a spacecraft designed to inspect and potentially remove man-made space debris from around the Earth, said a statement from Astroscale Japan on Monday. 
 
The Active Debris Removal has been launched by Astroscale-Japan (ADRAS-J). As per an AFP news agency report, it will rendezvous with and examine a Japanese H2A rocket remnant that has been in space for 15 years. The H2A rocket body, about the size of a bus, was launched by the Japan Aerospace Exploration Agency (JAXA) in 2009. Its precise location and orbital position are not known.

Also read | <a href="https://www.wionews.com/science/a-debris-cloud-has-been-growing-in-a-distant-star-system-due-to-a-massive-collision-between-two-exoplanets-691648">Debris cloud growing in a distant star system after massive collision between two exoplanets</a>

<h2>Debris removal</h2>

Launched from New Zealand, the ADRAS-J spacecraft has already made contact and is ready to begin operations, said project manager Eijiro Atarashi in a statement.

Using observation data from Earth, the estimated location of the H2A rocket body will be determined, and ADRAS-J will approach it "from a safe distance" to gather images and assess its condition and movements.

Selected by JAXA for its debris removal programme, ADRAS-J, as per Astroscale is the first spacecraft of its kind, which aims to remove large debris of Japanese origin in collaboration with private companies.

<h2>Space debris</h2>

As per the European Space Agency (ESA) estimates, there are around one million pieces of debris larger than a centimetre in orbit. These pieces of debris, which are big enough to "disable a spacecraft" pose a big threat.

Also read |&nbsp;<a href="https://www.wionews.com/world/japan-successfully-launches-new-h3-rocket-following-setback-last-year-691091">Japan successfully launches new H3 rocket following setback last year</a>

The build-up of space debris, including used satellites and rocket parts, has been a growing concern since the space age began. Proposed solutions include using lasers to push debris into new orbits and Astroscale's space "tow-truck," which employs a magnet to collect and move out-of-service satellites.

The ADRAS-J mission follows Japan's successful launch of its new flagship H3 rocket on Saturday, after years of delays and previous failed attempts. Additionally, Japan achieved a successful, albeit slightly off-kilter, unmanned probe landing on the Moon last month, making it the fifth country to accomplish a "soft" lunar landing.

(With inputs from agencies)

Japan has successfully launched a spacecraft designed to inspect and potentially remove man-made space debris from around the Earth, said a statement from Astroscale Japan on Monday. The Active Debris Removal has been launched by Astroscale-Japan (ADRAS-J). As per an AFP news agency report, it will rendezvous with and examine a Japanese H2A rocket remnant that has been in space for 15 years. The H2A rocket body, about the size of a bus, was launched by the Japan Aerospace Exploration Agency (JAXA) in 2009. Its precise location and orbital position are not known. Also read | Debris cloud growing in a distant star system after massive collision between two exoplanets Debris removal Launched from New Zealand, the ADRAS-J spacecraft has already made contact and is ready to begin operations, said project manager Eijiro Atarashi in a statement. Using observation data from Earth, the estimated location of the H2A rocket body will be determined, and ADRAS-J will approach it "from a safe distance" to gather images and assess its condition and movements. Selected by JAXA for its debris removal programme, ADRAS-J, as per Astroscale is the first spacecraft of its kind, which aims to remove large debris of Japanese origin in collaboration with private companies. Space debris As per the European Space Agency (ESA) estimates, there are around one million pieces of debris larger than a centimetre in orbit. These pieces of debris, which are big enough to "disable a spacecraft" pose a big threat. Also read | Japan successfully launches new H3 rocket following setback last year The build-up of space debris, including used satellites and rocket parts, has been a growing concern since the space age began. Proposed solutions include using lasers to push debris into new orbits and Astroscale's space "tow-truck," which employs a magnet to collect and move out-of-service satellites. The ADRAS-J mission follows Japan's successful launch of its new flagship H3 rocket on Saturday, after years of delays and previous failed attempts. Additionally, Japan achieved a successful, albeit slightly off-kilter, unmanned probe landing on the Moon last month, making it the fifth country to accomplish a "soft" lunar landing. (With inputs from agencies)

Hundreds of naked men grappled over wooden talismans at Japan's Kokuseki Temple in the Iwate region, over 470 km north of Tokyo. The annual 'Sominsai' festival reportedly marked its last occurrence, as elderly locals struggled to coordinate the event amid the challenges of maintaining ancient rituals due to ageing population in the country.

The ritual, culminating in fervent cries of "jasso, joyasa" (meaning "evil, be gone"), traditionally attracted hundreds of participants and thousands of sightseers each year. But the ageing population crisis in Japan, particularly affecting rural communities, has made organising such events increasingly difficult for the elderly people.

Daigo Fujinami, a resident monk at the temple established in 729 AD told the AFP: "It is very difficult to organise a festival of this scale."

<h2>Sominsai festival and Japan's ageing population</h2>

The Sominsai festival became another casualty of Japan's rapid demographic ageing process, leading to the closure of schools, shops, and services, especially in smaller or rural areas.

Also read | <a href="https://www.wionews.com/world/japan-population-crisis-worsens-one-in-10-people-aged-80-or-older-report-637578">Japan population crisis worsens, one in 10 people aged 80 or older</a>

The festival, which traditionally spanned from the seventh day of the Lunar New Year until the following morning first underwent modifications due to the challenges posed by the Covid pandemic.

The most recent&nbsp;version of the festival concluded around 11:00 pm (local time) but still&nbsp;attracted the largest crowd seen in recent times, local residents told the AFP.

Also watch |&nbsp;Japan records its steepest population decline

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As men garbed in white loincloths ascended the mountainous terrain to reach the temple, engaging in ritual baths in a nearby creek, the festival retained its essence. The spirited chants of "jasso joyasa" echoed through the air as men contended over a bag of talismans inside the wooden temple.

Toshiaki Kikuchi, a local resident deeply involved in organising the festival told AFP:&nbsp;"Even under a different format, I hope to maintain this tradition."

The conclusion of the festival evoked mixed emotions among attendees and spectators, with one participant stating, "This is the last of this great festival that has lasted 1,000 years. I wanted to participate."

Several festivals in Japan are adapting to reflect shifting social customs due to the ageing population.&nbsp;

(With inputs from agencies)

Hundreds of naked men grappled over wooden talismans at Japan's Kokuseki Temple in the Iwate region, over 470 km north of Tokyo. The annual 'Sominsai' festival reportedly marked its last occurrence, as elderly locals struggled to coordinate the event amid the challenges of maintaining ancient rituals due to ageing population in the country.

Hundreds of naked men grappled over wooden talismans at Japan's Kokuseki Temple in the Iwate region, over 470 km north of Tokyo. The annual 'Sominsai' festival reportedly marked its last occurrence, as elderly locals struggled to coordinate the event amid the challenges of maintaining ancient rituals due to ageing population in the country. The ritual, culminating in fervent cries of "jasso, joyasa" (meaning "evil, be gone"), traditionally attracted hundreds of participants and thousands of sightseers each year. But the ageing population crisis in Japan, particularly affecting rural communities, has made organising such events increasingly difficult for the elderly people. Daigo Fujinami, a resident monk at the temple established in 729 AD told the AFP: "It is very difficult to organise a festival of this scale." Sominsai festival and Japan's ageing population The Sominsai festival became another casualty of Japan's rapid demographic ageing process, leading to the closure of schools, shops, and services, especially in smaller or rural areas. Also read | Japan population crisis worsens, one in 10 people aged 80 or older The festival, which traditionally spanned from the seventh day of the Lunar New Year until the following morning first underwent modifications due to the challenges posed by the Covid pandemic. The most recent version of the festival concluded around 11:00 pm (local time) but still attracted the largest crowd seen in recent times, local residents told the AFP. Also watch | Japan records its steepest population decline × As men garbed in white loincloths ascended the mountainous terrain to reach the temple, engaging in ritual baths in a nearby creek, the festival retained its essence. The spirited chants of "jasso joyasa" echoed through the air as men contended over a bag of talismans inside the wooden temple. Toshiaki Kikuchi, a local resident deeply involved in organising the festival told AFP: "Even under a different format, I hope to maintain this tradition." The conclusion of the festival evoked mixed emotions among attendees and spectators, with one participant stating, "This is the last of this great festival that has lasted 1,000 years. I wanted to participate." Several festivals in Japan are adapting to reflect shifting social customs due to the ageing population. (With inputs from agencies)

Japan’s 1,000-year-old ‘naked men’ festival sparks joy for one last time as population grows old

NASA and the Japan Aerospace Exploration Agency (JAXA) are considering launching the LignoSat probe - the world's first wooden satellite into space, in an attempt to make spaceflight operations sustainable. Watch to know more!

Japan & NASA to launch world's first wooden satellite

Japan's space agency achieved a significant milestone on Saturday (Feb 17) with the successful launch of the second test model of its latest flagship rocket, the H3. The&nbsp;achievement comes as a welcome boost to Japan's space endeavours following the setback of last year's inaugural flight failure.

<h2>Building on recent success: SLIM moon landing</h2>

Just last month, Japan celebrated the historic "pinpoint" moon landing of its SLIM spacecraft, further solidifying its presence in space exploration.

The success of the H3 launch adds another feather to Japan's cap, showcasing its growing expertise and capabilities in space missions.

Developed by the Japan Aerospace Exploration Agency (JAXA) in collaboration with Mitsubishi Heavy Industries, the H3 rocket is positioned to replace the ageing H-IIA.

With lower costs and increased payload capacity, the H3 aims to attract launch orders from international clients.

Also watch |&nbsp;Japan no longer third-largest economy

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<h2>Successful liftoff and operational milestones</h2>

The H3 rocket lifted off at 9:22 am&nbsp;Tokyo time, with JAXA confirming its successful liftoff and proper functioning of its engines, reported Reuters.

This achievement was met with jubilation at the Tanegashima Space Center, as scientists rejoiced in the culmination of their efforts. The rocket's mission includes the release of micro-satellites and a dummy satellite.

The success of this launch comes after the setback of the H3's first flight, which ended prematurely due to technical issues. JAXA's thorough review identified potential electrical faults but was unable to pinpoint the exact cause.

With its ability to carry a 6.5 metric tonne payload and lower per-launch costs, the H3 is poised to play a crucial role in Japan's future space missions.

Plans include launching satellites and probes, collaborating on lunar exploration projects with India and the United States, and supporting initiatives such as the Artemis moon exploration programme.

<a href="https://www.wionews.com/business-economy/japan-slips-into-recession-economy-shrinks-in-the-last-three-months-of-2023-690388">Also read |&nbsp;Japan slips into recession, overtaken by Germany as third largest economy</a>

Japan's space ambitions coincide with a competitive landscape, with the emergence of commercial players like SpaceX and new rockets from established entities like the United Launch Alliance and the European Space Agency.

(With inputs from agencies)

Japan's space agency achieved a significant milestone on Saturday (Feb 17) with the successful launch of the second test model of its latest flagship rocket, the H3.

Japan's space agency achieved a significant milestone on Saturday (Feb 17) with the successful launch of the second test model of its latest flagship rocket, the H3. The achievement comes as a welcome boost to Japan's space endeavours following the setback of last year's inaugural flight failure. Building on recent success: SLIM moon landing Just last month, Japan celebrated the historic "pinpoint" moon landing of its SLIM spacecraft, further solidifying its presence in space exploration. The success of the H3 launch adds another feather to Japan's cap, showcasing its growing expertise and capabilities in space missions. Developed by the Japan Aerospace Exploration Agency (JAXA) in collaboration with Mitsubishi Heavy Industries, the H3 rocket is positioned to replace the ageing H-IIA. With lower costs and increased payload capacity, the H3 aims to attract launch orders from international clients. Also watch | Japan no longer third-largest economy Successful liftoff and operational milestones The H3 rocket lifted off at 9:22 am Tokyo time, with JAXA confirming its successful liftoff and proper functioning of its engines, reported Reuters. This achievement was met with jubilation at the Tanegashima Space Center, as scientists rejoiced in the culmination of their efforts. The rocket's mission includes the release of micro-satellites and a dummy satellite. The success of this launch comes after the setback of the H3's first flight, which ended prematurely due to technical issues. JAXA's thorough review identified potential electrical faults but was unable to pinpoint the exact cause. With its ability to carry a 6.5 metric tonne payload and lower per-launch costs, the H3 is poised to play a crucial role in Japan's future space missions. Plans include launching satellites and probes, collaborating on lunar exploration projects with India and the United States, and supporting initiatives such as the Artemis moon exploration programme. Also read | Japan slips into recession, overtaken by Germany as third largest economy Japan's space ambitions coincide with a competitive landscape, with the emergence of commercial players like SpaceX and new rockets from established entities like the United Launch Alliance and the European Space Agency. (With inputs from agencies)

Japan successfully launches new H3 rocket following setback last year

Quad Bill has been passed by the U.S. House of Representatives. The bill aims to enhance collaboration among the United States, Australia, India, and Japan.

US House Passes Quad bill: What does it mean for the group?

The US House of Representatives passed the Quad bill on Friday (Feb 16), aiming to enhance collaboration among the United States, Australia, India, and Japan. This legislative move signifies a significant step towards fostering closer ties and cooperation in the Indo-Pacific region.

<h2>Establishment of Quad Intra-Parliamentary Working Group</h2>

The Quad bill directs the Biden administration to establish a Quad Intra-Parliamentary Working Group to facilitate closer cooperation among the four nations.

This group will serve as a platform for strategic discussions and coordination on various regional and global issues.

The bill was passed by a roll call vote of 379 to 39 votes, highlighting strong bipartisan support for strengthening cooperation within the Quad framework. This overwhelming majority underscores the importance of closer ties among the US, Australia, India, and Japan.

Within 180 days of the bill's enactment, the State Department is required to submit a strategy to Congress outlining plans to increase engagement and cooperation within the Quad. This strategy will address key areas, such as pandemic preparedness, technological innovation, and economic integration.

<a href="https://www.wionews.com/world/us-fbi-informant-faces-allegations-of-lying-about-business-dealings-of-president-joe-biden-son-hunter-biden-690747">Also read |&nbsp;US: FBI informant faces allegations of lying about business dealings of President Joe Biden, son Hunter Biden</a>

<h2>Establishment of US group</h2>

The bill also establishes a US group, comprising a maximum of 24 members of Congress, to represent the United States in the Quad Intra-Parliamentary Working Group. Guidelines for annual meetings and group leadership are also outlined to ensure effective coordination and communication.

Under the bill, the Quad Intra-Parliamentary Working Group is mandated to submit an annual report to the congressional foreign affairs committees. This reporting requirement aims to provide transparency and accountability regarding the group's activities and outcomes.

While the bill garnered widespread support, two Democratic lawmakers voted against it, including Congresswoman Ilhan Omar from Minneapolis. Despite some dissent, the bill reflects broad bipartisan consensus on the importance of strengthening cooperation within the Quad framework.

Also watch |&nbsp;New York court judge denies Trump's dismissal request

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/new-york-court-judge-denies-trumps-dismissal-request-690721/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<div class="videoWrapper trancodeVideo">&nbsp;</div>

<div class="videoWrapper trancodeVideo">Congressman Gregory Meeks, the bill's primary sponsor, emphasised the significance of the Quadrilateral Security Dialogue in promoting a free and open Indo-Pacific and advancing US interests in the region. He highlighted the importance of democratic coordination and cooperation to counter the rise of authoritarianism worldwide.</div>

By establishing a Quad Intra-Parliamentary Working Group and outlining key areas of engagement, the bill seeks to promote stability, security, and prosperity in the Indo-Pacific region.

(With inputs from agencies)

The US House of Representatives passed the Quad bill on Friday (Feb 16), aiming to enhance collaboration among the United States, Australia, India, and Japan. This legislative move signifies a significant step towards fostering closer ties and cooperation in the Indo-Pacific region.

The US House of Representatives passed the Quad bill on Friday (Feb 16), aiming to enhance collaboration among the United States, Australia, India, and Japan. This legislative move signifies a significant step towards fostering closer ties and cooperation in the Indo-Pacific region. Establishment of Quad Intra-Parliamentary Working Group The Quad bill directs the Biden administration to establish a Quad Intra-Parliamentary Working Group to facilitate closer cooperation among the four nations. This group will serve as a platform for strategic discussions and coordination on various regional and global issues. The bill was passed by a roll call vote of 379 to 39 votes, highlighting strong bipartisan support for strengthening cooperation within the Quad framework. This overwhelming majority underscores the importance of closer ties among the US, Australia, India, and Japan. Within 180 days of the bill's enactment, the State Department is required to submit a strategy to Congress outlining plans to increase engagement and cooperation within the Quad. This strategy will address key areas, such as pandemic preparedness, technological innovation, and economic integration. Also read | US: FBI informant faces allegations of lying about business dealings of President Joe Biden, son Hunter Biden Establishment of US group The bill also establishes a US group, comprising a maximum of 24 members of Congress, to represent the United States in the Quad Intra-Parliamentary Working Group. Guidelines for annual meetings and group leadership are also outlined to ensure effective coordination and communication. Under the bill, the Quad Intra-Parliamentary Working Group is mandated to submit an annual report to the congressional foreign affairs committees. This reporting requirement aims to provide transparency and accountability regarding the group's activities and outcomes. While the bill garnered widespread support, two Democratic lawmakers voted against it, including Congresswoman Ilhan Omar from Minneapolis. Despite some dissent, the bill reflects broad bipartisan consensus on the importance of strengthening cooperation within the Quad framework. Also watch | New York court judge denies Trump's dismissal request Congressman Gregory Meeks, the bill's primary sponsor, emphasised the significance of the Quadrilateral Security Dialogue in promoting a free and open Indo-Pacific and advancing US interests in the region. He highlighted the importance of democratic coordination and cooperation to counter the rise of authoritarianism worldwide. By establishing a Quad Intra-Parliamentary Working Group and outlining key areas of engagement, the bill seeks to promote stability, security, and prosperity in the Indo-Pacific region. (With inputs from agencies)

US House passes Quad bill: What does it mean for India?

Japan's&nbsp;stock market is booming.&nbsp; The Japanese stock market index, Nikkei, has breached the 37,000-mark for the first time since 1990.

This marks the resurgence of Japan's&nbsp;share market, long shunned by global investors for its meagre returns.

The Tokyo stock market gained 28.2 per cent in 2023, surpassing the S&amp;P 500's 26.28 per cent increase last year.&nbsp;

Foreign investors continue to pour billions into the stock market, with the Nikkei rising by eight&nbsp;per cent in January.&nbsp;Two big factors have made the Tokyo Stock Exchange more attractive to foreign investors.&nbsp;

The recent corporate governance reforms have prompted companies to increase returns to shareholders. In addition, a weak yen has improved profits and helped Japanese stocks become more valuable.&nbsp;

No wonder, Warren Buffett, the greatest stock market trader alive, has been bullish about Japanese stocks.&nbsp;

Nikkei's 1989 record of 38.915 points is now in sight.&nbsp;

The stock market gains signal that Japan's three decades of economic stagnation may be nearing its end.&nbsp;

Japan's 'lost decades', which began in the 1990s and continues to this day, have been signified by "one-per cent" growth and deflation.

The country was once in the race to become a superpower, rivalling the economic might of the United States.&nbsp; In fact, the 1980s, American corporations faced tough competition from cutting-edge tech brands from Japan.&nbsp;

At the macro level, the US and Japan were locked in a tussle over&nbsp;trade.&nbsp; By the mid-1980s, the East Asian country had become the biggest trading partner of the United States.&nbsp;As the trade deficit began widening, the US&nbsp;began imposing several tariffs to bridge the gap.&nbsp;

Moreover, Japan became the biggest creditor of the US, further complicating the bilateral dynamics.&nbsp;

It won't be wrong to say that Japan of the 1980s closely mirrored present-day China.&nbsp;

So, what went wrong in the Japanese economic miracle?&nbsp;

It is generally believed that the asset price bubble of the 1980s shook the economy in the 1990s.&nbsp; The "euphoria" of consistent long-term economic growth boosted asset prices in Japan.&nbsp;

However, there was a major mismatch between the increase in asset prices and the actual economic fundamentals of the day.&nbsp;

Analysts narrow down the asset price bubble to the period between 1987 and 1990, when three major factors typical of a bubble co-existed.&nbsp;Prof Shigenori Shiratsuka put them as following: marked increase in asset prices, an expansion in money supply and credit, and an overheating economy.

The Bank of Japan's monetary easing -- increased money supply and easy credit -- played a big role in inflating the asset price bubble.&nbsp; Between 1986 and 1987, the Bank of Japan cut the borrowing rate from 5 per cent to the post-war low of 2.5 per cent.&nbsp;

External factors delayed a hike in the interest rates, especially the fear that a strong yen could hit Japan's vibrant export market.&nbsp;

By the time the central bank decided to hike rates in early 1989, the asset price bubble had grown too big to be ignored.&nbsp;

The two-year-long rate hike cycle pricked the proverbial "bubble", but not before prices&nbsp;peaked.&nbsp; As per estimates, the stock prices peaked in December 1989, land prices in the big cities peaked in September 1990, while the nationwide land prices peaked exactly a year later.&nbsp;

The central bank began to ease the monetary policy in mid-1991. But that failed to halt the contagion effect of the asset bubble burst.&nbsp;

The stock market plunged 60 per cent from December 1989 to August 1992, while land prices dropped throughout the 1990s, falling 70 per cent by 2001.&nbsp;

The immediate impact on Japan's real economy lingered&nbsp;for at least a decade.&nbsp;Between 1992 and 2003, the economy barely grew by over one per cent, while output could never achieve its earlier potential.&nbsp;

"Bubbles" are not a unique economic phenomena. Countries face them as part of the economic cycle. However, they mostly recover and grow.&nbsp;

But, as recent history tells us, Japan has never been able to mount a comeback since the price bubble burst. The asset price bubble and its aftermath is now a case study in economic management.&nbsp;

Of late, this crisis has re-entered the public sphere, as China's struggles with its weakening property sector.&nbsp; Many analysts believe that China is undergoing a 'Japanification', wherein demand collapses under the weight of deflation.&nbsp;

Whether China's 'Japanification' is a scare or an eventuality is still a matter of scholarly debates. Given China's massive size and influence, any comparison with the much-smaller Japan seems unfair.&nbsp;

But the island nation's crisis continues to serve as a reminder to maintain a stable macroeconomic policy, with one eye on "economic euphoria".&nbsp;

Japan's stock market is booming. The Japanese stock market index, Nikkei, has breached the 37,000-mark for the first time since 1990. This marks the resurgence of Japan's share market, long shunned by global investors for its meagre returns.

Japan's stock market is booming. The Japanese stock market index, Nikkei, has breached the 37,000-mark for the first time since 1990. This marks the resurgence of Japan's share market, long shunned by global investors for its meagre returns. The Tokyo stock market gained 28.2 per cent in 2023, surpassing the S&P 500's 26.28 per cent increase last year. Foreign investors continue to pour billions into the stock market, with the Nikkei rising by eight per cent in January. Two big factors have made the Tokyo Stock Exchange more attractive to foreign investors. The recent corporate governance reforms have prompted companies to increase returns to shareholders. In addition, a weak yen has improved profits and helped Japanese stocks become more valuable. No wonder, Warren Buffett, the greatest stock market trader alive, has been bullish about Japanese stocks. Nikkei's 1989 record of 38.915 points is now in sight. The stock market gains signal that Japan's three decades of economic stagnation may be nearing its end. Japan's 'lost decades', which began in the 1990s and continues to this day, have been signified by "one-per cent" growth and deflation. The country was once in the race to become a superpower, rivalling the economic might of the United States. In fact, the 1980s, American corporations faced tough competition from cutting-edge tech brands from Japan. At the macro level, the US and Japan were locked in a tussle over trade. By the mid-1980s, the East Asian country had become the biggest trading partner of the United States. As the trade deficit began widening, the US began imposing several tariffs to bridge the gap. Moreover, Japan became the biggest creditor of the US, further complicating the bilateral dynamics. It won't be wrong to say that Japan of the 1980s closely mirrored present-day China. So, what went wrong in the Japanese economic miracle? It is generally believed that the asset price bubble of the 1980s shook the economy in the 1990s. The "euphoria" of consistent long-term economic growth boosted asset prices in Japan. However, there was a major mismatch between the increase in asset prices and the actual economic fundamentals of the day. Analysts narrow down the asset price bubble to the period between 1987 and 1990, when three major factors typical of a bubble co-existed. Prof Shigenori Shiratsuka put them as following: marked increase in asset prices, an expansion in money supply and credit, and an overheating economy. The Bank of Japan's monetary easing -- increased money supply and easy credit -- played a big role in inflating the asset price bubble. Between 1986 and 1987, the Bank of Japan cut the borrowing rate from 5 per cent to the post-war low of 2.5 per cent. External factors delayed a hike in the interest rates, especially the fear that a strong yen could hit Japan's vibrant export market. By the time the central bank decided to hike rates in early 1989, the asset price bubble had grown too big to be ignored. The two-year-long rate hike cycle pricked the proverbial "bubble", but not before prices peaked. As per estimates, the stock prices peaked in December 1989, land prices in the big cities peaked in September 1990, while the nationwide land prices peaked exactly a year later. The central bank began to ease the monetary policy in mid-1991. But that failed to halt the contagion effect of the asset bubble burst. The stock market plunged 60 per cent from December 1989 to August 1992, while land prices dropped throughout the 1990s, falling 70 per cent by 2001. The immediate impact on Japan's real economy lingered for at least a decade. Between 1992 and 2003, the economy barely grew by over one per cent, while output could never achieve its earlier potential. "Bubbles" are not a unique economic phenomena. Countries face them as part of the economic cycle. However, they mostly recover and grow. But, as recent history tells us, Japan has never been able to mount a comeback since the price bubble burst. The asset price bubble and its aftermath is now a case study in economic management. Of late, this crisis has re-entered the public sphere, as China's struggles with its weakening property sector. Many analysts believe that China is undergoing a 'Japanification', wherein demand collapses under the weight of deflation. Whether China's 'Japanification' is a scare or an eventuality is still a matter of scholarly debates. Given China's massive size and influence, any comparison with the much-smaller Japan seems unfair. But the island nation's crisis continues to serve as a reminder to maintain a stable macroeconomic policy, with one eye on "economic euphoria".

Flashback Friday | How the asset price bubble dragged Japan's economy

Japanese chipmaker Renesas Electronics has announced a landmark agreement to acquire Australian-listed electronics design firm Altium for A$9.1 billion ($5.91 billion) in an all-cash deal. <o:p></o:p>

Renesas will pay A$68.50 per share, representing a substantial 34 per cent premium to Altium's closing price on Wednesday. <o:p></o:p>

The move aims to revolutionise the electronics design process, catering to the increasing pressure to shorten time-to-market, according to Renesas CEO Hidetoshi Shibata.<o:p></o:p>

The acquisition underscores Renesas' commitment to bolster its position in the semiconductor industry. <o:p></o:p>

Altium, headquartered in California and listed in Australia, specialises in providing tools for designing circuit boards. <o:p></o:p>

Renesas intends to leverage Altium's expertise to enhance its capabilities and streamline the electronics design workflow for its customers. <o:p></o:p>

The deal, approved by both companies' boards of directors, is now subject to approval from Altium shareholders, an Australian court, and regulatory authorities.<o:p></o:p>

Renesas' decision to pay a 34 per cent premium for Altium's shares prompted varied reactions in the market. <o:p></o:p>

Reuters quoted Tatsunori Kawai, the Chief Strategist at au Kabucom Securities, who commented, "They don't seem to be overpaying, but the fact (market) players are not reacting positively also means they are still unconvinced about how this deal would contribute to the company's long-term growth." <o:p></o:p>

Renesas' share price initially fell by 4.9 per cent, later recovering to trade down 0.5 per cent at 2,589 yen. <o:p></o:p>

Altium shares, on the other hand, surged by 28 per cent to A$65.80, reflecting a positive response to the acquisition.<o:p></o:p>

Altium CEO Aram Mirkazemi expressed optimism about the deal, stating, "This is going to help us execute at a faster pace." <o:p></o:p>

The acquisition marks a significant development for Altium, which in 2021 rejected a $3.9 billion takeover bid from software company Autodesk. <o:p></o:p>

The rejection was based on the perception that the offer was too low. <o:p></o:p>

In the absence of a superior offer and with the unanimous support of Altium's board, the deal with Renesas is expected to proceed after approval from shareholders and regulatory bodies.<o:p></o:p>

Renesas' recent acquisitions, including the purchase of power semiconductor company Transphorm for $339 million, reflect the company's strategic focus on advancing technologies, particularly gallium nitride chips used in electric vehicles. <o:p></o:p>

The Japanese chipmaker, formed in 2010 through a merger of NEC's chip division and Renesas Technology, continues to expand its portfolio through strategic acquisitions, positioning itself as a key player in the semiconductor market.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Japanese chipmaker Renesas Electronics has announced a landmark agreement to acquire Australian-listed electronics design firm Altium for A$9.1 billion ($5.91 billion) in an all-cash deal.

Japanese chipmaker Renesas Electronics has announced a landmark agreement to acquire Australian-listed electronics design firm Altium for A$9.1 billion ($5.91 billion) in an all-cash deal. Renesas will pay A$68.50 per share, representing a substantial 34 per cent premium to Altium's closing price on Wednesday. The move aims to revolutionise the electronics design process, catering to the increasing pressure to shorten time-to-market, according to Renesas CEO Hidetoshi Shibata. The acquisition underscores Renesas' commitment to bolster its position in the semiconductor industry. Altium, headquartered in California and listed in Australia, specialises in providing tools for designing circuit boards. Renesas intends to leverage Altium's expertise to enhance its capabilities and streamline the electronics design workflow for its customers. The deal, approved by both companies' boards of directors, is now subject to approval from Altium shareholders, an Australian court, and regulatory authorities. Renesas' decision to pay a 34 per cent premium for Altium's shares prompted varied reactions in the market. Reuters quoted Tatsunori Kawai, the Chief Strategist at au Kabucom Securities, who commented, "They don't seem to be overpaying, but the fact (market) players are not reacting positively also means they are still unconvinced about how this deal would contribute to the company's long-term growth." Renesas' share price initially fell by 4.9 per cent, later recovering to trade down 0.5 per cent at 2,589 yen. Altium shares, on the other hand, surged by 28 per cent to A$65.80, reflecting a positive response to the acquisition. Altium CEO Aram Mirkazemi expressed optimism about the deal, stating, "This is going to help us execute at a faster pace." The acquisition marks a significant development for Altium, which in 2021 rejected a $3.9 billion takeover bid from software company Autodesk. The rejection was based on the perception that the offer was too low. In the absence of a superior offer and with the unanimous support of Altium's board, the deal with Renesas is expected to proceed after approval from shareholders and regulatory bodies. Renesas' recent acquisitions, including the purchase of power semiconductor company Transphorm for $339 million, reflect the company's strategic focus on advancing technologies, particularly gallium nitride chips used in electric vehicles. The Japanese chipmaker, formed in 2010 through a merger of NEC's chip division and Renesas Technology, continues to expand its portfolio through strategic acquisitions, positioning itself as a key player in the semiconductor market. (With inputs from Reuters)

Renesas Electronics strikes $5.9 bn all-cash deal to acquire Altium: Report

Japan is no longer the third-largest economy in the world. The Asian country has lost that position to Germany, after contracting for the last six months of 2023 and entering a recession. Official data shows that Japan's economy unexpectedly shrank due to weak domestic demand. This has raised uncertainty about the central bank's plans to exit its ultra-easy monetary policy this year.

Japan no longer third-largest economy

Japan is no longer the third-largest economy in the world.

The Asian country has lost that position to Germany, after contracting&nbsp;for the last six months of 2023 and consequently&nbsp;slipping into&nbsp;a recession.

Latest data shows&nbsp;that Japan's economy unexpectedly shrank in the October-December quarter due to weak domestic demand.

Japan's economy is now smaller than Germany's. Japan's nominal GDP of&nbsp;$4.2106 trillion&nbsp;is smaller than Germany's $4.4561 trillion, as per local media reports.

Japan's gross domestic product or GDP fell 0.4 per cent in the October-December period, after a 3.3 per cent slump between July and September.&nbsp;&nbsp;

Market analysts expected a 1.4 per cent growth in the final three months of 2023.&nbsp;

Two consecutive quarters of contraction are typically considered the definition of a technical recession.

For the full year, Japan's economy grew 1.9 per cent,&nbsp;higher than the 1.1 per cent growth recorded in 2022.&nbsp;

Private consumption, which makes up over half of Japan's economic activity, fell 0.2 per cent. Capital expenditure, another key private-sector growth engine, fell 0.1 per cent.

Nevertheless, external demand, which is exports minus imports, contributed 0.20 per cent to GDP as exports rose 2.6 per cent from the July-September quarter.

A weak yen in comparison to the US dollar has helped Japan expand its exports.

Moreover, there is a risk that the economy could continue to shrink in the January-March quarter this year.

Analysts say there are&nbsp;three big reasons for the downside risks: slowing global growth, weak domestic demand and the impact of the new year quake in western Japan.

Impact on ultra-easy monetary policy

The weak economic data has raised uncertainty about the Bank of Japan's plan&nbsp;to exit its ultra-easy monetary policy this year.

An ultra-easy monetary policy has been the hallmark of Japan's banking system for the last three decades, marked by negative interest rates.&nbsp;

A Reuters report states that Japan's central bank has been laying the groundwork to overhaul its ultra-easy monetary policy by April.

Sources, however, suggest that it is likely to go slow on any subsequent policy tightening as risks persist.

The latest data did not have a major impact on the stock market. In fact, the benchmark index, Nikkei, rose one per cent, reversing some of its losses made from the previous session.&nbsp;&nbsp;

The stock market possibly rose on expectations the central bank may continue with its easy money policy for some more time.

(With inputs from Reuters)

Japan is no longer the third-largest economy in the world. The Asian country has lost that position to Germany, after contracting for the last six months of 2023 and consequently slipping into a recession.

Japan is no longer the third-largest economy in the world. The Asian country has lost that position to Germany, after contracting for the last six months of 2023 and consequently slipping into a recession. Latest data shows that Japan's economy unexpectedly shrank in the October-December quarter due to weak domestic demand. Japan's economy is now smaller than Germany's. Japan's nominal GDP of $4.2106 trillion is smaller than Germany's $4.4561 trillion, as per local media reports. Japan's gross domestic product or GDP fell 0.4 per cent in the October-December period, after a 3.3 per cent slump between July and September. Market analysts expected a 1.4 per cent growth in the final three months of 2023. Two consecutive quarters of contraction are typically considered the definition of a technical recession. For the full year, Japan's economy grew 1.9 per cent, higher than the 1.1 per cent growth recorded in 2022. Private consumption, which makes up over half of Japan's economic activity, fell 0.2 per cent. Capital expenditure, another key private-sector growth engine, fell 0.1 per cent. Nevertheless, external demand, which is exports minus imports, contributed 0.20 per cent to GDP as exports rose 2.6 per cent from the July-September quarter. A weak yen in comparison to the US dollar has helped Japan expand its exports. Moreover, there is a risk that the economy could continue to shrink in the January-March quarter this year. Analysts say there are three big reasons for the downside risks: slowing global growth, weak domestic demand and the impact of the new year quake in western Japan. Impact on ultra-easy monetary policy The weak economic data has raised uncertainty about the Bank of Japan's plan to exit its ultra-easy monetary policy this year. An ultra-easy monetary policy has been the hallmark of Japan's banking system for the last three decades, marked by negative interest rates. A Reuters report states that Japan's central bank has been laying the groundwork to overhaul its ultra-easy monetary policy by April. Sources, however, suggest that it is likely to go slow on any subsequent policy tightening as risks persist. The latest data did not have a major impact on the stock market. In fact, the benchmark index, Nikkei, rose one per cent, reversing some of its losses made from the previous session. The stock market possibly rose on expectations the central bank may continue with its easy money policy for some more time. (With inputs from Reuters)

Japan slips into recession, overtaken by Germany as third largest economy

Across Asian markets, we're witnessing a surge in activity as trading resumes post the Lunar New Year holiday, with notable gains in Japan's Nikkei 225, which soared by 1.82 per cent on opening, breaching the significant 37,000 mark and hitting heights unseen in 34 years.&nbsp;<o:p></o:p>

The Nikkei is poised to establish a new 34-year high if it sustains these gains until closure, having initially breached 37,000 on an intraday basis just last Friday. South Korea's Kospi, meanwhile, marked its return to trading with a respectable 1.16 per cent increase.

Shifting focus to the US, the Dow Jones Industrial Average surged to a fresh record high as investors eagerly await updates on inflation and earnings. Conversely, the S&amp;P 500 experienced a marginal decline of 0.09 per cent, while the Nasdaq Composite slipped by 0.3 per cent.<o:p></o:p>

Oil markets, on the other hand, have displayed stability for the second consecutive day, as concerns regarding potential US interest rate adjustments and their implications on fuel demand offset anxieties surrounding tensions in West Asia, which could disrupt supply chains. This follows a similar trend from the previous session, where oil prices remained nearly unchanged after experiencing a notable 6 per cent increase the prior week.<o:p></o:p>

Yet, it's the realm of cryptocurrency that's truly captivating this week. Bitcoin, in particular, surged above the $50,000 mark on Monday, achieving its highest level in over two years. Noteworthy is the robust demand for spot-bitcoin ETFs, evident from substantial net inflows of $1.1 billion over the past week and a staggering $2.8 billion since their launch.<o:p></o:p>

Across Asian markets, we're witnessing a surge in activity as trading resumes post the Lunar New Year holiday, with notable gains in Japan's Nikkei 225, which soared by 1.

Across Asian markets, we're witnessing a surge in activity as trading resumes post the Lunar New Year holiday, with notable gains in Japan's Nikkei 225, which soared by 1.82 per cent on opening, breaching the significant 37,000 mark and hitting heights unseen in 34 years. The Nikkei is poised to establish a new 34-year high if it sustains these gains until closure, having initially breached 37,000 on an intraday basis just last Friday. South Korea's Kospi, meanwhile, marked its return to trading with a respectable 1.16 per cent increase. Shifting focus to the US, the Dow Jones Industrial Average surged to a fresh record high as investors eagerly await updates on inflation and earnings. Conversely, the S&P 500 experienced a marginal decline of 0.09 per cent, while the Nasdaq Composite slipped by 0.3 per cent. Oil markets, on the other hand, have displayed stability for the second consecutive day, as concerns regarding potential US interest rate adjustments and their implications on fuel demand offset anxieties surrounding tensions in West Asia, which could disrupt supply chains. This follows a similar trend from the previous session, where oil prices remained nearly unchanged after experiencing a notable 6 per cent increase the prior week. Yet, it's the realm of cryptocurrency that's truly captivating this week. Bitcoin, in particular, surged above the $50,000 mark on Monday, achieving its highest level in over two years. Noteworthy is the robust demand for spot-bitcoin ETFs, evident from substantial net inflows of $1.1 billion over the past week and a staggering $2.8 billion since their launch.

Global Markets Roundup | Japan's Nikkei 225 at 34-year highs

Dating apps have changed the way we date, pursue relationships and find love. One correct swipe on a dating app it's led to many to their happily ever after however there is one industry that's not feeling loved at the moment we're talking about the marriage consultation agencies and according to a report that was published by a Japanese research firm, In Japan around 11 marriage agencies have filed for bankruptcy. Watch to know more!

Japan: Marriage agencies going bankrupt as dating apps surge

Taylor Swift's fever has finally reached Asia and how the pop Titan performed her first concert of the Eras Tour in the Japanese Capital where fans were eagerly Waiting For The Love Story singer taking over the stage.

Taylor Swift sells 'Eras tour' concert film rights for more than $75 million

In a new study, scientists found that several rigid tectonic plates which are under the Pacific Ocean are being pulled apart. 
 
Earth has an outer shell, which is called the lithosphere and is divided into various rigid plates. These plates are known to float in the semi-fluid asthenosphere and their movement is a key feature of these plates. 
 
The University of Toronto's geoscientists discovered that the plate is scored by large undersea faults which are hundreds of kilometres long and thousands of metres deep. 
 
The team was surprised after finding that the geological deformation, which is the continental plate interiors' regular feature, is also taking place inside the ocean plates.

Also Read:&nbsp;<a href="https://www.wionews.com/science/mysterious-jet-black-eggs-found-eggs-discovered-in-depths-of-the-pacific-683278">Mysterious jet-black eggs found in depths of Pacific Ocean; scientists perplexed</a>

“We knew that geological deformations like faults happen on the continental plate interiors far from plate boundaries,” said Erkan Gun, who is a post-doctoral researcher in the Department of Physical and Environmental Sciences at U of T Scarborough, as reported by Science Alert. 
 
“But we didn't know the same thing was happening to ocean plates," Gun stated. 
 
The Pacific plate consists of the maximum Pacific Ocean floor and has moved westwards to plunge into the mantle of Earth along the trenches or subduction zones of undersea which run from Japan to New Zealand and Australia.

<h2 lang="en-US">Tectonic plate gets dragged inside Earth's mantle like table cloth: Scientists</h2>

Researchers said that as the plate's western edge is pulled down into the mantle, the rest of it gets dragged inside it like a tablecloth being pulled from a table. 
 
“It was thought that because the sub-oceanic plateaus are thicker, they should be stronger. But our models and seismic data show it’s the opposite: the plateaus are weaker," said Gun.

Watch:&nbsp;World sees first 12 months above 1.5°c warming level

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/world-sees-first-12-months-above-15degc-warming-level-688236/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The scientists studied four plateaus present in the western Pacific Ocean, which is the Ontong Java, Shatsky, Hess, and Manihiki, in a vast area that is roughly bounded by New Zealand, Hawaii, Japan and Australia. 
 
The scientists then brought a supercomputer into action to create a model with the help of existing data which revealed major changes. 
 
The study's findings were published in the journal Geophysical Research Letters. 
 
“A new finding like this overturns what we’ve understood and taught about the active Earth, and it shows that there are still radical mysteries about even the grand operation of our evolving planet,” Gun added.

(With inputs from agencies)

In a new study, scientists found that several rigid tectonic plates which are under the Pacific Ocean are being pulled apart. Earth has an outer shell, which is called the lithosphere and is divided into various rigid plates.

In a new study, scientists found that several rigid tectonic plates which are under the Pacific Ocean are being pulled apart. Earth has an outer shell, which is called the lithosphere and is divided into various rigid plates. These plates are known to float in the semi-fluid asthenosphere and their movement is a key feature of these plates. The University of Toronto's geoscientists discovered that the plate is scored by large undersea faults which are hundreds of kilometres long and thousands of metres deep. The team was surprised after finding that the geological deformation, which is the continental plate interiors' regular feature, is also taking place inside the ocean plates. Also Read: Mysterious jet-black eggs found in depths of Pacific Ocean; scientists perplexed “We knew that geological deformations like faults happen on the continental plate interiors far from plate boundaries,” said Erkan Gun, who is a post-doctoral researcher in the Department of Physical and Environmental Sciences at U of T Scarborough, as reported by Science Alert. “But we didn't know the same thing was happening to ocean plates," Gun stated. The Pacific plate consists of the maximum Pacific Ocean floor and has moved westwards to plunge into the mantle of Earth along the trenches or subduction zones of undersea which run from Japan to New Zealand and Australia. Tectonic plate gets dragged inside Earth's mantle like table cloth: Scientists Researchers said that as the plate's western edge is pulled down into the mantle, the rest of it gets dragged inside it like a tablecloth being pulled from a table. “It was thought that because the sub-oceanic plateaus are thicker, they should be stronger. But our models and seismic data show it’s the opposite: the plateaus are weaker," said Gun. Watch: World sees first 12 months above 1.5°c warming level The scientists studied four plateaus present in the western Pacific Ocean, which is the Ontong Java, Shatsky, Hess, and Manihiki, in a vast area that is roughly bounded by New Zealand, Hawaii, Japan and Australia. The scientists then brought a supercomputer into action to create a model with the help of existing data which revealed major changes. The study's findings were published in the journal Geophysical Research Letters. “A new finding like this overturns what we’ve understood and taught about the active Earth, and it shows that there are still radical mysteries about even the grand operation of our evolving planet,” Gun added. (With inputs from agencies)

Scientists say tectonic plate tearing apart under Pacific Ocean from Japan to New Zealand

The yen found itself hovering near a 10-week low on Friday, while the dollar continued its upward trajectory towards a fourth consecutive weekly advance. <o:p></o:p>

According to a Reuters report, the currency market witnessed adjustments as traders recalibrated their expectations concerning the timing of interest rate changes by the Bank of Japan (BOJ) and the potential for rate cuts by the Federal Reserve.<o:p></o:p>

The yen, barely flinching after Japanese Finance Minister Shunichi Suzuki's statement that he was "watching FX moves carefully," remained little changed at 149.315 per dollar in early Asian trading. <o:p></o:p>

The yen's lack of response to Suzuki's warning underscores the nuanced considerations at play in the currency market. <o:p></o:p>

Meanwhile, BOJ Deputy Governor Shinichi Uchida's recent remarks contributed to the yen's weakened position, stating that it is "hard to imagine" a rapid increase in rates even after ending the negative interest rate policy.<o:p></o:p>

In the realm of the dollar, the dollar index, measuring the currency against six major peers, stood steady at 104.15. <o:p></o:p>

The dollar's resilience was evident as it gained 0.1 per cent following fresh data pointing to the robustness of the US labour market. <o:p></o:p>

This follows a week where the dollar index has climbed 0.18 per cent, propelled by strong monthly payrolls data and a hawkish stance from Fed Chair Jerome Powell. <o:p></o:p>

Traders, once anticipating early Fed rate cuts, now lay just 16.5 per cent odds for a rate cut at the Fed's next policy meeting in March, a significant shift from 65.9 per cent odds a month ago.<o:p></o:p>

Reuters cited Richard Franulovich, Westpac's head of foreign exchange strategy, who predicts a potential rally toward 105.50 for the dollar index, emphasising latent upside fuel for the US currency. <o:p></o:p>

He notes that while pricing for the March Federal Open Market Committee (FOMC) has been reduced, there is still potential for a USD rally in subsequent FOMC meetings. <o:p></o:p>

Franulovich anticipates US resilience extending well into 2024, contributing to a potentially bumpy disinflation last mile.<o:p></o:p>

Turning attention to other currencies, the euro remained relatively stable at $1.0774, and the sterling showed little movement at $1.2619. Both currencies demonstrated resilience amid efforts by the European Central Bank and Bank of England officials to counter market expectations of early rate reductions. <o:p></o:p>

New Zealand's dollar, on the other hand, gained 0.34 per cent to $0.6117, supported by bets for a delayed start to Reserve Bank rate cuts or the potential for further hikes, following stronger-than-forecast job market data.<o:p></o:p>

In the realm of cryptocurrency, bitcoin traded little changed at around $45,300, maintaining its position as a significant player in the ever-evolving financial landscape. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

The yen found itself hovering near a 10-week low on Friday, while the dollar continued its upward trajectory towards a fourth consecutive weekly advance. According to a Reuters report, the currency market witnessed adjustments as traders recalibrated their expectations concerning the timing of interest rate changes by the Bank of Japan (BOJ) and the potential for rate cuts by the Federal Reserve.

The yen found itself hovering near a 10-week low on Friday, while the dollar continued its upward trajectory towards a fourth consecutive weekly advance. According to a Reuters report, the currency market witnessed adjustments as traders recalibrated their expectations concerning the timing of interest rate changes by the Bank of Japan (BOJ) and the potential for rate cuts by the Federal Reserve. The yen, barely flinching after Japanese Finance Minister Shunichi Suzuki's statement that he was "watching FX moves carefully," remained little changed at 149.315 per dollar in early Asian trading. The yen's lack of response to Suzuki's warning underscores the nuanced considerations at play in the currency market. Meanwhile, BOJ Deputy Governor Shinichi Uchida's recent remarks contributed to the yen's weakened position, stating that it is "hard to imagine" a rapid increase in rates even after ending the negative interest rate policy. In the realm of the dollar, the dollar index, measuring the currency against six major peers, stood steady at 104.15. The dollar's resilience was evident as it gained 0.1 per cent following fresh data pointing to the robustness of the US labour market. This follows a week where the dollar index has climbed 0.18 per cent, propelled by strong monthly payrolls data and a hawkish stance from Fed Chair Jerome Powell. Traders, once anticipating early Fed rate cuts, now lay just 16.5 per cent odds for a rate cut at the Fed's next policy meeting in March, a significant shift from 65.9 per cent odds a month ago. Reuters cited Richard Franulovich, Westpac's head of foreign exchange strategy, who predicts a potential rally toward 105.50 for the dollar index, emphasising latent upside fuel for the US currency. He notes that while pricing for the March Federal Open Market Committee (FOMC) has been reduced, there is still potential for a USD rally in subsequent FOMC meetings. Franulovich anticipates US resilience extending well into 2024, contributing to a potentially bumpy disinflation last mile. Turning attention to other currencies, the euro remained relatively stable at $1.0774, and the sterling showed little movement at $1.2619. Both currencies demonstrated resilience amid efforts by the European Central Bank and Bank of England officials to counter market expectations of early rate reductions. New Zealand's dollar, on the other hand, gained 0.34 per cent to $0.6117, supported by bets for a delayed start to Reserve Bank rate cuts or the potential for further hikes, following stronger-than-forecast job market data. In the realm of cryptocurrency, bitcoin traded little changed at around $45,300, maintaining its position as a significant player in the ever-evolving financial landscape. (With inputs from Reuters)

Yen nears 10-week low, dollar strengthens as traders adjust rate expectations

A request made by a transgender man for changing his gender in official records without undergoing sterilisation surgery was approved by a court in western Japan.&nbsp;

This is the first such ruling given by a court since the country’s top court removed a surgery requirement for making such&nbsp;changes in the records.

50-year-old Tacaquito Usui can now change his gender to male in his family registry, said the Okayama family court’s Tsuyama branch in its ruling on Wednesday (Feb 7). The original application of Usui for the revision was rejected by the court five years ago.

“It’s like I’m standing at the start line of my new life,” Usui said&nbsp;in a televised press conference after the ruling came out. “I’m so excited," he said.&nbsp;

The Supreme Court of Japan in October ruled that a provision of a 20-year-old law which made the reproductive organs' removal a precondition for a new gender's legal recognition was unconstitutional.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/japan-to-unveil-six-month-residency-visa-for-it-engineers-other-workers-686845">Japan to unveil six-month residency visa for IT engineers, other workers</a>

However, the ruling was also applicable only to the sterilisation provision and did not speak about the constitutionality of needing other procedures.

The Okayama court discovered that Usui was eligible for gender affirmation because of the hormone therapy given to him.

<h2>Transgender man welcomes court's ruling</h2>

Welcoming the recognition, Usui said that he believed the law in Japan may be evolving faster in comparison to public awareness.

In Japan, a lot of LGBTQ+ people have been hiding their gender identities and sexual orientations because of fear of discrimination at work and schools. The country is the only one in the Group of Seven&nbsp;(G7) to not permit same-sex marriage.

Watch:&nbsp;The rise of Japan's 'Silver Porn' market | WION Untangled

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/the-rise-of-japans-silver-porn-market-wion-untangled-686787/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The activists have been demanding greater rights and protections for LGBTQ+ people. However, change has slowly been creeping in a country being led by a conservative government which is reluctant to accept gender, sexual and family diversity and sticks to traditional paternalistic values.&nbsp;

The law, which was addressed in the Supreme Court's ruling, came into effect in 2004.

The court stated that the individuals who wish to register a gender change need to get their reproductive organs, including testes or ovaries, removed.&nbsp;

The individuals also need to have a body that “appears to have parts that resemble the genital organs” of their expressed gender.

(With inputs from agencies)

A request made by a transgender man for changing his gender in official records without undergoing sterilisation surgery was approved by a court in western Japan.

A request made by a transgender man for changing his gender in official records without undergoing sterilisation surgery was approved by a court in western Japan. This is the first such ruling given by a court since the country’s top court removed a surgery requirement for making such changes in the records. 50-year-old Tacaquito Usui can now change his gender to male in his family registry, said the Okayama family court’s Tsuyama branch in its ruling on Wednesday (Feb 7). The original application of Usui for the revision was rejected by the court five years ago. “It’s like I’m standing at the start line of my new life,” Usui said in a televised press conference after the ruling came out. “I’m so excited," he said. The Supreme Court of Japan in October ruled that a provision of a 20-year-old law which made the reproductive organs' removal a precondition for a new gender's legal recognition was unconstitutional. Also read: Japan to unveil six-month residency visa for IT engineers, other workers However, the ruling was also applicable only to the sterilisation provision and did not speak about the constitutionality of needing other procedures. The Okayama court discovered that Usui was eligible for gender affirmation because of the hormone therapy given to him. Transgender man welcomes court's ruling Welcoming the recognition, Usui said that he believed the law in Japan may be evolving faster in comparison to public awareness. In Japan, a lot of LGBTQ+ people have been hiding their gender identities and sexual orientations because of fear of discrimination at work and schools. The country is the only one in the Group of Seven (G7) to not permit same-sex marriage. Watch: The rise of Japan's 'Silver Porn' market | WION Untangled The activists have been demanding greater rights and protections for LGBTQ+ people. However, change has slowly been creeping in a country being led by a conservative government which is reluctant to accept gender, sexual and family diversity and sticks to traditional paternalistic values. The law, which was addressed in the Supreme Court's ruling, came into effect in 2004. The court stated that the individuals who wish to register a gender change need to get their reproductive organs, including testes or ovaries, removed. The individuals also need to have a body that “appears to have parts that resemble the genital organs” of their expressed gender. (With inputs from agencies)

Japan allows transgender man to change official status without undergoing sterilisation in historic move

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