Supporters Rally for Impeached South Korean President

On January 23, 2025, supporters of the impeached South Korean President Yoon Suk Yeol gathered near the Constitutional Court in Seoul. This rally coincided with a hearing regarding Yoon's impeachment trial, which stems from a martial law declaration made on December 3, 2024.

Bank of Japan Increases Interest Rates

The Bank of Japan (BOJ) has raised its policy interest rate to 0.5%, marking the highest level seen in 17 years. This decision, announced on January 24, 2025, follows expectations of wage increases during this year's annual labor negotiations. The BOJ indicated that it would continue to adjust the key short-term rate in accordance with economic performance and inflation trends.

Japanese Prime Minister Seeks Cross-Party Support

Prime Minister Shigeru Ishiba has called for cross-party collaboration within the Diet, as he aims to secure support for sustained salary increases and regional revitalization efforts. During the opening of a 150-day Diet session, Ishiba articulated his vision to transform Japan into a more sustainable and independent nation, while also emphasizing the importance of adapting to the shifting global security landscape.

Chinese Court Sentences Man for Killing Japanese Boy

A Chinese court has sentenced a man to death for the murder of a 10-year-old Japanese boy in Shenzhen last September. This ruling was confirmed by Japan's government following a report from the Shenzhen Intermediate People's Court. The boy was fatally stabbed near a Japanese school, an incident that has drawn significant attention.

Mitsubishi Motors to Focus on Existing Partnerships

Mitsubishi Motors Corp. is reportedly opting out of a potential merger with Nissan Motor Co. and Honda Motor Co. Instead, the company plans to concentrate on strengthening its current partnerships with these two automotive giants. This decision reflects Mitsubishi's concerns about maintaining management control if it were to join a holding company formed by the merger.

Japan's Birth Rate Declines

Recent government statistics indicate that the number of births in Japan for 2024 is projected to fall below 700,000 for the first time. The preliminary data shows a drop of 5.1% in births during the first 11 months of the year, totaling 661,577. This decline is attributed to changing societal norms regarding marriage and child-rearing, exacerbated by rising living costs and the lingering impact of the COVID-19 pandemic.

Department Store Sales Exceed Pre-Pandemic Levels

In 2024, sales at department stores in Japan reached 5.75 trillion yen (approximately $37 billion), surpassing levels recorded before the COVID-19 pandemic in 2019. This growth is largely attributed to a resurgence in inbound tourism, with same-store sales rising by 6.8% compared to 2023. Duty-free sales have also seen a significant increase, soaring by 85.9% to 648.7 billion yen, marking a record high for the second consecutive year.

Record High Foreign Entries into Japan

The number of foreign visitors to Japan reached a record 36.78 million in 2024, bolstered by a weak yen and an increase in international flight availability. This statistic represents an increase of approximately 5.59 million visitors compared to the previous record of 31.19 million set in 2019, according to data from the Immigration Services Agency.