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Country risk, from the local press

Japan · Country watch

Tokyo Condo Prices Fall, Typhoon 25 Death Toll Rises

Tokyo condo prices drop as interest rates rise; Typhoon 25 causes significant fatalities and damage in Chiba and Kanagawa.

· · 4 sources

The picture Deteriorating

Business conditions in Japan are deteriorating due to rising interest rates affecting real estate and severe damage from Typhoon 25 in Chiba and Kanagawa.

In this briefing Ministry of Internal Affairs and Communications · Japan · Chiba Prefecture · Kanagawa Prefecture · Typhoon 25 · Bank of Japan · Tokyo

Regulation

  • retail

Japan to tighten furusato nōzei gift rules in October

Japan will implement tighter rules on furusato nōzei, a hometown tax donation system, starting in October, reports JapanTimes. The Ministry of Internal Affairs and Communications announced that the new regulations will affect about half of all return gifts, including tissues, lotions, and electrical appliances. The changes aim to standardize the system and ensure that gifts align with the spirit of the program, which is to support local communities rather than serve as a tax loophole.

Impact Retailers offering furusato nōzei gifts will need to adjust their offerings to comply with new regulations.

Sources: JapanTimes ↗

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

  • logistics
  • public-sector

Typhoon 25 causes fatalities and damage in Chiba, Kanagawa

Typhoon 25 has resulted in 11 deaths and 3 missing persons in Chiba and Kanagawa prefectures, NHK reports. The storm caused record rainfall, leading to landslides and river flooding. In Chiba, the levee breach at Kita-Inbanuma has led to widespread inundation. The disaster has disrupted transportation and logistics, with significant damage to infrastructure. Emergency services are working to manage the situation and provide relief to affected areas.

Impact Logistics operators face disruptions due to infrastructure damage in Chiba and Kanagawa.

Sources: NHK ↗

Companies

Nothing significant reported today.

Markets

  • finance

Tokyo condo prices decline as mortgage costs rise

Bank of Japan, Chuo-ku Tokyo Japan, designed by Kingo Tatsuno in 1896.
Bank of Japan, Chuo-ku Tokyo Japan, designed by Kingo Tatsuno in 1896. Wiiii, CC BY-SA 3.0 via Wikimedia Commons

Tokyo condominium prices have fallen for the first time in 28 months, according to JapanTimes. The decline is attributed to rising mortgage costs as the Bank of Japan increases interest rates and signals further credit tightening. This trend is spreading across central wards, impacting demand in the real estate market. The price drop comes amid a broader economic environment where the central bank is attempting to manage inflation and stabilize the economy.

Impact Real estate investors in Tokyo face reduced property values as mortgage costs rise.

Sources: JapanTimes ↗

Trade

Nothing significant reported today.

Politics

Nothing significant reported today.

Also today in Japan

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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