Author: Source Code Admin

Japan Shinkansen bullet trains faced a rare incident on Thursday morning when two cars decoupled while traveling between Tokyo and Saitama Prefecture. The incident has raised concerns over safety, and officials are now investigating.

JR East said the Hayabusa and Komachi trains, linked on the Tohoku Shinkansen line, separated at around 11:30 a.m. while traveling between Ueno Station in Tokyo and Omiya Station in Saitama. When the decoupling happened, the trains’ automatic brakes activated and brought them safely to a stop.

No passengers or staff were injured. However, the disruption forced temporary suspensions and caused delays across the busy Tohoku Shinkansen line, which connects Tokyo with northern Japan.

Passengers heading to Akita and Yamagata had to transfer at Morioka Station and Fukushima Station. JR East issued updates throughout the day and arranged alternative connections.

Japan’s Transport Safety Board classified the case as a serious incident that could have led to a major accident. Investigators will now check the coupling system, safety protocols, and maintenance records of the Shinkansen fleet.

Although such malfunctions are rare, JR East stressed its commitment to safety and promised to find the cause quickly. The operator also apologized for the disruption, which affected thousands of passengers during a busy weekday morning.

Japan’s Shinkansen network is praised worldwide for its speed, punctuality, and safety. This incident, however, shows that even advanced systems must remain prepared for unexpected risks.

(Ref. NHK WORLD-JAPAN)

Retail giant Seven & i Holdings will replace President Isaka Ryuichi with outside director Stephen Dacus. The change takes effect after the shareholders meeting in May.

Dacus will become the company’s first non-Japanese president.

Isaka said: “Our group has grown steadily. But we now need new measures to drive growth. After a strict selection process, we chose Stephen Dacus as the right leader for this next stage.”

Dacus said: “This is a time of change. The foundation built by Isaka-san and his team is strong. I see a great chance to take it to the next level. I’m honored by the board’s decision and excited to work with the board, franchisees, and employees to make this an even better company.”

The board approved the reshuffle on Thursday. It also announced plans to increase corporate value.

(Ref. NHK WORLD-JAPAN)

The UK-Japan Economic Partnership is entering a new phase as the Foreign Secretary and Business Secretary travel to Japan today (6 March 2025) for the Economic 2+2. This visit highlights a stronger commitment to joint economic growth, international trade, and future technologies. It also forms part of the government’s Plan for Change, designed to boost growth, create jobs, and strengthen international cooperation.

Japan is already the world’s fourth-largest economy and a key investor in the UK, with over £86 billion invested. The UK-Japan Economic Partnership aims to unlock further opportunities for business. A UK trade delegation is joining the visit to promote investment and open new markets for British companies in Japan.

This partnership will expand cooperation in critical areas. Both nations remain committed to a fair trading system, joint research into emerging technologies, and increased investment in innovation. In addition, defence industrial cooperation will strengthen security across the Indo-Pacific while delivering jobs at home.

Louise Hellem, Chief Economist at the CBI, emphasised that collaboration with like-minded partners such as Japan is essential for achieving the government’s Growth Mission. For UK companies looking to expand globally, Japan’s dynamic economy offers significant opportunities.

This new step in the UK-Japan Economic Partnership will enable deeper cooperation in digital technology, advanced manufacturing, and sustainability. Together, both nations are shaping a stronger future for trade, innovation, and shared prosperity.

SINGAPORE, March 4, 2025 – Japan’s economy is projected to expand by 1.3 percent in 2025, supported by steady wage growth, strong business investments, and resilient exports and tourism. Inflation has eased but is expected to stay above the Bank of Japan’s (BOJ) target, with core CPI (excluding fresh food) averaging 2.2 percent in 2025.

Given uncertainties around growth and inflation, the BOJ is expected to keep a flexible, data-driven approach to monetary policy. At the same time, Japan’s public debt remains high, and rising fiscal pressures from an aging population call for stronger fiscal consolidation to build long-term resilience.

Recent developments and outlook

Japan’s growth slowed to 0.1 percent in 2024 after the post-pandemic rebound. The economy shrank sharply in Q1 2024 but recovered over the next three quarters. The rebound was driven by stronger household spending as wage gains from the Shunto negotiations took effect.

Wage increases are set to stay strong, supported by a tight labor market and shifting corporate behavior. Higher corporate earnings are also expected to boost wages and drive new capital investments in 2025, further lifting domestic demand. Goods exports and inbound tourism should remain solid, provided major global economies avoid a sharp slowdown.

Risks and challenges

Japan’s outlook leans to the downside due to external risks. A surge in global commodity prices—possibly triggered by rising geopolitical tensions—could weigh on growth. Another key risk is a significant slowdown in major economies, which would affect Japan’s exports and investment momentum.

(REF & Photo: ASEAN+3 Macroeconomic Research Office)