Japan Update

LOCKED Japan Update: December Rate Hike Becoming More Certain, More to Come

December Rate Hike Becoming More Certain, More to Come

10-Year JGB Yield Hits 1.950%, Equities Can’t Ignore Higher Rates

October Real Consumption Falls 3.0%

Government May Exclude Large Companies from Wage Hike Tax Breaks

Takaichi Wants to Normalize Budget Process

Chamber of Commerce Says USDJPY Should Be 130 or Less

December 5, 2025

LOCKED Japan Update: JGB Yields Hit New Highs, All Eyes on 30-Year Auction

JGB Yields Hit New Highs, All Eyes on 30-Year Auction

Metalworkers’ Union Asks For ¥12,000 Increase in Base Pay

Nonperforming Loans Hit Record Low

Japan to Lift Restrictions on Defense Exports

Nissin Foods (2897) to Raise Instant Ramen Prices by 5% to 11%

December 3, 2025

LOCKED Japan Update: Ueda “Announces” December Rate Hike

Ueda “Announces” December Rate Hike
Coalition Secures Lower House Majority as Kaikaku no Kai Joins LDP
Cabinet Approves Final Supplementary Budget of ¥18.3 Trillion, ¥11.7 Trillion in New JGBs
Takaichi Wants to Normalize Budget Process
10-Year JGB Yield Hits 1.875% as Rate Hike Fully Priced
Quarterly Corporate Report Shows Higher Earnings, Slower Capex

December 1, 2025

LOCKED Japan Update: BoJ Dropping Hints That Rates Will Go Up in December

BoJ Dropping Hints That Rates Will Go Up in December

Takaichi Calls for Wage Hikes to Match 2024 Levels

METI Proposes Tax Cuts to Boost Capital Spending

5-Year JGB Yield Highest Since June 2008 on Rate Hike Concern

October Department Store Sales Up 4.3%

Japan DOGE Begins Operations

November 25, 2025

LOCKED Japan Update: Cabinet Approves ¥21.3 Trillion Supplementary Budget

Cabinet Approves ¥21.3 Trillion Supplementary Budget

October Nationwide Core CPI Up 3.0%

Katayama: “Naturally We Are Considering Intervention”

Ueda: “Weak Yen Will Push Up Prices”

JGBs Rally After Supplementary Budget Announcement

Tech Drives Nikkei Sharply Lower, TOPIX Flat

November 21, 2025

LOCKED Japan Update: Weak 20-Year JGB Auction Raises Specter of Worsening Fiscal Position

Weak 20-Year JGB Auction Raises Specter of Worsening Fiscal Position

Supplementary Budget Expected to be ¥21.3 Trillion

LDP Under Pressure from Innovation, DPP to Cut Taxes

USDJPY Hits 157 But Little Support for Intervention

China Threatens Further Measures Against Japan After Takaichi Taiwan Comments

December Rate Hike Now Seen as More Likely

October Tourist Arrivals Up 17.6%

November 20, 2025

LOCKED Japan News Weekly Digest | 11/10 – 11/16

More content for you in an easily digestible format! The Japan News Weekly Digest is our weekly summary of the Japan Update. This piece encapsulates and references the Japan Updates published in the last week so you can easily understand what you may need to dig into.

As a quick reminder, the Japan Update, our market commentary piece, is uniquely sourced from Japanese language publications. Published 10-15 times a month and written by Jeff Uscher, a Western educated and US located, fluent Japanese financial writer. You can always sign up to receive the Japan Update when it is initially published in your account notification settings. As always, please reach out with any questions or comments!

November 18, 2025