Japan has one of the fastest-growing economies in the world and is dotted with numerous business opportunities. It’s no wonder that business news from the country attracts attention from all over the world. With that in mind, here are the top five Japan business news you need to know this week.
1. Japan’s GDP Growth Surpasses Expectations
The third quarter of 2021 saw Japan’s economic growth surpass the anticipated levels, recording a 0.5% rise in GDP, beating the expected 0.1%. With the easing of pandemic restrictions and increased investment from businesses, Japan’s economy continues to show signs of a steady recovery.
2. Toyota to Produce Electric Vehicles in Japan by 2025
Toyota, the world’s leading car manufacturer, plans to commence the production of electric vehicles shortly. The vehicles will contain solid-state batteries, which can significantly extend the range of electric cars. Toyota has its sights set on producing battery-electric and hydrogen-electric fuel cell-powered vehicles on a massive scale by the year 2030.
3. Rakuten Introduces Japan’s First Mobile-Only Bank
Japan’s e-commerce giant, Rakuten, launched Japan’s first mobile-only bank earlier in 2021. The bank offers lower fees, no account closing charges, and higher interest rates. With the increasing demand for secure digital banking, the launch of the mobile bank is expected to be well-received by both consumers and businesses.
4. The Japanese Government Commits to Achieving Net-Zero Emissions
As the world gears towards carbon zero, Japan’s government has committed to achieving net-zero emissions by 2050. In addition, the government plans to cut its greenhouse gas emissions by 46% by the year 2030. This pledge marks Japan’s most assertive move towards tackling the climate crisis and aligns with global efforts to reduce carbon emissions.
5. Panasonic, NTT, and Toyota to explore autonomous driving solutions
Panasonic, Toyota, and NTT, a leading Japanese telecommunications company, have partnered to explore autonomous driving solutions. The collaboration aims to develop an efficient and safe mode of transportation that can be leveraged at major events or emergency situations where there’s a need for swift movement.
In conclusion, Japan’s business scene continues to offer significant developments and opportunities for investors and businesses alike. The above news stories highlight some of the latest events and trends playing out in the country’s business sector. By keeping up to date with Japan’s business environment, businesses can position themselves to grasp the available opportunities and remain in tune with the latest emerging trends.
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