Nipponica

The platform, to be launched in fall next year, will be developed mainly by the Ministry of Economy, Trade and Industry, as well as the Information-technology Promotion Agency (IPA), which is under METI's jurisdiction. It will consolidate personal information, such as digital technology qualifications, education level and place of residence. The government aims to have 1 million registrants in the first fiscal year of operation.

The platform is also expected to provide educational courses for registered users. Material will be available for a wide range of applied skills, including programming, web design and artificial intelligence.

An interesting take on upskilling done at the national level. As long as personal information is secure and people are in charge of their data, I can see this as a great tool in education and job hunting.

Japan Post Bank will in fiscal 2026 issue to depositors a digital currency that can be used for quick trading of blockchain-based financial products.

By marrying 120 million accounts with cutting-edge technology, the bank will create an environment where money in savings accounts can be easily tapped for trading of digital assets online.

Looking forward to the 100% paper-based crypto transactions for YuchoCoin.

Japanese trading house Itochu will begin discussions with the banking unit of the 7-Eleven convenience store chain on a capital and business alliance, as it looks to increase its consumer financial service offerings.

The Japanese trader has "agreed to commence discussions" with Seven Bank on the tie-up, "including collaboration across a wide range of financial fields," it said on Monday. Nikkei understands that Itochu is considering acquiring not only Seven Bank's treasury shares -- stock bought back from shareholders -- but also shares held by institutional investors. Combined, they would potentially amount to a 20% stake.

Worth noting that Itochu owns FamilyMart. Compared to the failed Couche-Tard deal, increased domestic partnerships like this seem like a better way to grow.

The new yen-denominated stablecoin will be named JPYC. To peg its value to the yen, it will be backed by such highly liquid assets as deposits and government bonds. Sales are expected to begin in the weeks after registration as a money transfer business is established.

Individuals, corporations and institutional investors wanting to use the new JPYC stablecoin will be able to apply to purchase it and transfer the payment, after which it will be transferred into their electronic wallets. Uses will include such international remittances as sending money to students abroad, as well as corporate payments and the blockchain-based asset management services known as decentralized finance.

For reasons still unknown, we are being dragged into this world against our will.

Prime Minister Shigeru Ishiba will announce the initiative at the Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, that runs from Wednesday to Aug. 22.

Japan will support efforts to link India, the Middle East and Africa. The aim is to capture demand in African emerging markets and pursue economic security aims, such as ensuring a stable supply of resources.

To increase maritime shipping in the western Indian Ocean, Tokyo will use official development assistance to help build ports and roads in East Africa.

More belts. More roads.

A July survey in Japan found that 84.2% of respondents make use of code payments for purchases, using a barcode or QR code displayed on a smartphone. The survey was conducted by Kufū Company Holdings on 2,559 users of its household budgeting app and related services.

Code payments have become a standard for cashless transactions in Japan, even surpassing the 76.3% of respondents who use physical credit cards. The next most popular form of payment, at 69.8%, is electronic money, which includes systems used on public transportation such as Suica and Pasmo, or money issued by retailers like Aeon. Meanwhile, only a minority of respondents, at 14.7%, use debit cards.

QR and barcodes seem like a step back when we already have contactless payments like Suica. It is more expensive to support FeliCa but all terminals support it by now.

The ¥2,000 banknotes never gained popularity, despite the promotional efforts of the Ministry of Finance and the Bank of Japan, because most ATMs and vending machines did not issue or accept them. Circulation peaked at around 510 million notes in August 2004, and then declined rapidly thereafter. Since that fiscal year, no new notes have been printed, and the number in circulation has remained just below 100 million, which is only 0.6% of all banknotes in circulation. The notes have become so rare that many people have never encountered one or wonder if they can still be used to make purchases.

However, in Okinawa the situation is quite different. The note has special significance for residents of the prefecture because it features an illustration of the Shureimon gate of Shuri Castle, which is the symbol of Okinawa. ATMs for Okinawa Bank and the Bank of the Ryūkyūs have a “¥2,000 priority button” that allows users to choose to withdraw these notes to use for their daily purchases.

I distinctly remember using an ATM in Okinawa for the first time and the 2000円 notes being spit out. Was my first time seeing them and I briefly thought I was being scammed. They are beautiful banknotes and the only remaining ones with the previous design language since they were not changed with its 1000円, 5000円, and 10000円 comrades.

U.S. President Donald Trump's tariffs will create regional trading blocs and realign global supply chains, the CEO of Japanese trading house Marubeni has warned.

"There is a perception that things are getting back to normal" now that some countries have tariff agreements with the U.S., but "the protectionist tendencies will alter the movements of goods and alter supply chains in the mid to long term," Masayuki Omoto, the CEO of one of Japan's five main general trading houses, told Nikkei Asia.

"I believe economies will become more regionally focused -- or bloc-based," he said.

Globalization being buried, one tariff at a time.

The Finance Ministry on Tuesday upgraded its economic view on Okinawa Prefecture, reflecting robust vehicle sales and an increase in Japanese and foreign tourists.

Any good news about my old home is welcome. Okinawa during the pandemic was a quiet place so it is good that things are picking back up.

For the January-June first half, tax-free sales totaled 285.7 billion yen, down 14.6%.

Some of the declines may have been exaggerated by a drop in tourism from Hong Kong and other mainly Chinese-speaking countries due to rumors of an imminent earthquake, which turned out to be groundless.

But industry officials caution that the slowdown may not be temporary and are redoubling their efforts to attract foreign shoppers amid global economic headwinds. Economists warn that the impact of Trump's tariffs -- on Friday the baseline 10% rate is set to go up -- will further raise consumer anxiety around the world.

Putting the Hong Kong earthquake hoax to one side, this is an example of actions having consequences. There is a slow anti-tourist movement growing in Japan and this is a natural and obvious result.

While I do understand the dislike of some tourist behavior and overcrowding, one also has to factor in the benefits of it, not just monetary but also in boosting Japan’s soft power. If the anti-tourism sentiment continues and increases, Japanese may have a quieter and less crowded country, but also a weaker and poorer one as well.