TOKYO - The following is the latest list of selected news summaries by Kyodo News.
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Japan's Takaichi leaves for U.S. to meet Trump amid Mideast conflict
TOKYO - Japanese Prime Minister Sanae Takaichi departed for Washington on Wednesday for high-stakes talks with U.S. President Donald Trump, aiming to cement her standing as America's indispensable partner in Asia even as he turns his attention to the Middle East amid the war with Iran.
While emphasizing the need for de-escalation in the Middle East, Takaichi told reporters in Tokyo ahead of her three-day U.S. visit that she hopes to reaffirm with Trump the strength of bilateral ties on issues ranging from security to the economy.
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U.S. Fed keeps key rate steady, affirms likelihood of just one cut for 2026
WASHINGTON - The U.S. Federal Reserve on Wednesday kept its benchmark interest rate unchanged, and signaled in keeping with its previous estimate that only one cut is likely to occur by the end of 2026 amid increasing uncertainty in the global economy stemming from the Iran war.
The Fed maintained its target range for the federal funds rate, which commercial banks charge each other for overnight loans, at 3.50-3.75 percent at a two-day monetary policy meeting.
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Major Japan firms offer large pay hikes in line with demands in wage talks
TOKYO - Many major Japanese companies, including Toyota Motor Corp., on Wednesday fully met their labor unions' demands for wage hikes in annual negotiations, despite the expected increase in costs from higher crude oil prices.
Unions, however, at smaller companies could struggle to win similar wage hikes. Such firms tend to find it harder to pass on higher costs to their customers, especially with the rise in oil and other material prices caused by the crisis in the Middle East.
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Japan gasoline price hits record-high 190.80 yen per liter amid Iran crisis
TOKYO - The average retail gasoline price in Japan hit a record high of 190.80 yen ($1.20) per liter, reflecting higher crude oil prices amid the Iran war, industry ministry data showed Wednesday, a day before state subsidies to keep fuel costs in check are set to resume.
The average price as of Monday was up 29.0 yen from March 9, matching the largest-ever margin of increase since comparable data became available in 1990, marking the fifth consecutive weekly gain. It eclipsed the previous high of 186.50 yen set in April 2025, when a weak yen inflated crude oil import costs.
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Japan, Singapore agree to step up trade, economic cooperation
TOKYO - Japanese Prime Minister Sanae Takaichi and her Singaporean counterpart Lawrence Wong reaffirmed on Wednesday their commitment to promoting free trade and economic cooperation, as the United States' high tariff policy and China's economic coercion have shaken global trade rules.
With this year marking the 60th anniversary of the establishment of their diplomatic relations, Japan and Singapore also decided to upgrade their relationship to a "strategic partnership."
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Foreign visitors to Japan in February set monthly record of 3.47 mil.
TOKYO - The number of foreign visitors to Japan in February rose 6.4 percent from a year earlier to 3.47 million, the highest monthly total on record, boosted by travelers from East Asia over the Lunar New Year holidays, government estimates showed Wednesday.
By origin, South Korea topped the list with 1.09 million visitors, up 28.2 percent, followed by Taiwan with 693,600, up 36.7 percent, according to the Japan National Tourism Organization.
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Tokyo area condo prices top 100 mil. yen for 1st time in 6 months
TOKYO - The average price of a new condominium in Tokyo and its three surrounding prefectures in February rose 38.8 percent from a year earlier to 110.25 million yen ($694,000), topping 100 million yen for the first time in six months, a research institute said Wednesday.
The price in the capital and Chiba, Kanagawa and Saitama prefectures hit its second-highest level since 1973 when comparable data became available, marking a year-on-year increase for the 10th straight month, on the back of rising construction costs, according to the Real Estate Economic Institute.
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Nippon Steel receives 900 bil. yen loan for U.S. Steel buyout
TOKYO - Nippon Steel Corp. on Wednesday said it has received a loan totaling around 900 billion yen ($5.67 billion) from the Japan Bank for International Cooperation and major commercial banks for financial support in its acquisition of United States Steel Corp.
Last June, the Japanese steelmaker acquired the U.S. company in a $14.1 billion transaction funded by bridge loans requiring repayment within a year. Although bridge loans often have high interest rates, the burden is expected to be reduced through the funds raised by the cofinancing.
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Video: Major Japan firms offer large pay hikes
