While corporate profits in Japan continue to reach record highs, employee wages remain stagnant, leaving a growing segment of the workforce struggling. Since the collapse of the bubble economy, non-regular employment has steadily increased, creating a widening gap between regular and non-regular workers.
Today, 15.4% of the population earns less than half the median standard of living, marking the second-highest proportion among G7 countries after the United States.
In Tokyo, consumer prices rose 2.5% in September compared with a year earlier. The price index excluding fresh food—often subject to sharp fluctuations—reached 110.0 across the capital’s wards, with the pace of growth remaining unchanged from the previous month.
In corporate news, Panasonic Holdings will begin soliciting early retirement applications next month at one of its core operating companies as part of broader restructuring efforts.
Meanwhile, Toyota has started demonstration trials at its experimental city project known as Woven City on September 25th. Several employee households have moved in to test how AI and autonomous driving technologies can be integrated into everyday life.
When it comes to startups, Japan counts only eight unicorns—unlisted startups valued at over 150 billion yen—compared with 690 in the United States. Moreover, Japan has yet to produce a single “hectocorn,” a term for companies worth more than 100 billion dollars, such as ByteDance’s TikTok, OpenAI, or SpaceX.
On the international front, Japan and Saudi Arabia announced a new memorandum of understanding for economic cooperation on September 24th at the Osaka-Kansai Expo. The agreement places strong emphasis on expanding the entertainment and content industries.
Locally, residents of Settsu City in Osaka Prefecture have decided to file for pollution mediation against chemical manufacturer Daikin Industries, whose plant is located in the area. Groundwater samples were found to contain per- and polyfluoroalkyl substances (PFAS), some of which are suspected carcinogens.
These developments highlight the multifaceted economic and social challenges facing Japan today, alongside ongoing efforts in innovation and international collaboration.
https://newsonjapan.com/article/147032.php