Japan names former currency chief Kanda as ADB president

SEOUL, November 29 (AJP) - Japan's former top currency diplomat Masato Kanda will serve as the next president of the Asian Development Bank (ADB), following his selection by the bank's board of governors, the Manila-based institution said. Kanda, 59, who currently serves as a special adviser to Japan's prime minister, will assume the role as the bank's 11th president on Feb. 24, 2025, succeeding Masatsugu Asakawa. The appointment on Thursday maintains Japan's

November 29, 2024

Japan to revamp tax system for international visitors

SEOUL, November 28 (AJP) - Japan is likely to overhaul its tax-free shopping program for international visitors, implementing a new tax refund system in late 2026 that requires tourists to claim consumption tax reimbursements upon departure. The reform reported on Wednesday, set to be included in Prime Minister Shigeru Ishiba's December tax policy package, aims to combat the illegal resale of duty-free goods by tourists who reportedly sell tax-exempt purchases for profit before

November 28, 2024

Japan's new rocket engine explodes in critical test

SEOUL, November 27 (AJP) - A rocket engine being developed for Japan's Epsilon S program exploded during a combustion test in Kagoshima Prefecture, marking the second such failure in 16 months, according to the Japan Aerospace Exploration Agency (JAXA). The incident occurred at the Tanegashima Space Center when the second-stage engine, containing about 18 tons of solid fuel, experienced higher-than-expected combustion pressure 49 seconds into the test, JAXA officials said. No in

November 27, 2024

Japan, Italy sign military cooperation pact

SEOUL, November 26 (AJP) - Japan and Italy signed an Acquisition and Cross-Servicing Agreement (ACSA) in Rome, establishing a framework for mutual military supply and service support between the two nations, the Japanese foreign ministry said. The agreement, signed on Monday by Japanese Foreign Minister Takeshi Iwaya and Italian Defense Minister Guido Crosetto, enables the exchange of ammunition, fuel, and maintenance services during joint military exercises, UN peacekeeping operati

November 26, 2024

Japan's foreign minister may visit China soon to discuss boosting bilateral ties

SEOUL, November 25 (AJP) - Japanese Foreign Minister Takeshi Iwaya is expected to visit Beijing this year for discussions with Chinese Foreign Minister Wang Yi. The planned mission, reported on Sunday, would mark Iwaya's inaugural trip to China since assuming office in October and represents the first high-level visit by a Japanese foreign minister to Beijing after more than a year, last visited in April 2023. The visit follows a recent summit between Japanese Prime Minister

November 25, 2024

US, Japan finalize joint military plan for Taiwan contingency

SEOUL, November 25 (AJP) - The United States and Japan are finalizing a comprehensive military response plan designed to counter potential conflict scenarios arising from tensions between Taiwan and China. The plan, which is expected to be formalized in December, involves strategic missile positioning in key locations across the region. According to media reports on Sunday, the initiative will see the deployment of U.S. Marine Corps' Marine Littoral Regiments, equipped with

November 25, 2024

Japan's ruling coalition agrees to raise tax-free threshold

SEOUL, November 21 (AJP) - Japan's ruling coalition has reached an agreement with an opposition party on Wednesday to increase the tax-free income ceiling, clearing the path for a comprehensive inflation relief package amid rising consumer prices. The deal between Prime Minister Shigeru Ishiba's administration and the Democratic Party for the People (DPP) includes raising the current threshold of 1.03 million yen (US$6,643), with discussions continuing on the specific amou

November 21, 2024

Japan hits new tourism peak as October visitors reach 3.31 million

SEOUL, November 21 (AJP) - Japan recorded its highest-ever monthly tourist arrivals in October with 3.31 million visitors, surpassing the previous record of 3.29 million set in July. The surge in international arrivals reported by the Japan National Tourism Organization (JNTO) on Wednesday, up from 2.87 million in September, has been attributed to the depreciated yen and seasonal attractions, with autumn foliage driving increased tourism demand across multiple markets from Asia, E

November 21, 2024

Japanese PM emphasizes alliance with US for Indo-Pacific stability

SEOUL, November 20 (AJP) - Japanese Prime Minister Shigeru Ishiba expressed his intention to foster collaboration with U.S. President-elect Donald Trump, emphasizing the importance of their bilateral alliance for Indo-Pacific stability. Speaking at a press conference on Tuesday following his South American diplomatic tour, Ishiba addressed the postponed meeting with Trump, which could not take place due to U.S. legal restrictions on president-elects meeting foreign leaders. &qu

November 20, 2024