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Tag: Fumio Kishida

  • Japan PM Fumio Kishida Steps Down, Says Won’t Run For Re-Election As LDP Leader | world news

    Japanese Prime Minister Fumio Kishida on Wednesday announced that he will not participate in the upcoming leadership election of the ruling Liberal Democratic Party, as reported by NHK News. During a Wednesday press conference, Kishida justified his decision, saying, “For the upcoming presidential election, demonstrating to the public that the Liberal Democratic Party is ready for change is essential. This requires a transparent and open election, as well as free and open. debate. The first clear step to signal the LDP’s transformation is my withdrawal.”

    He praised his administration’s accomplishments, highlighting wage increases and investments that have ended three decades of deflation. Additionally, Kishida mentioned that his government has revamped its energy policy to address the surge in electricity demand and has taken significant steps to combat the declining birthrate and bolster Japan’s defense capabilities.

    “I take pride in the substantial achievements my administration has made,” Kishida said, as quoted by NHK News. He also expressed his support for a new leader. Japan Today reported that Kishida’s influence waned following local election defeats earlier in the year, prompting LDP lawmakers to call for new leadership before the next general election.

    Kishida, who became Prime Minister in October 2021, is stepping down in the wake of a political funding scandal within the LDP. Centering on purportedly unreported political funds from party event ticket sales, the scandal implicated over 80 LDP members.

    In response to Kishida’s announcement, a senior LDP member expressed to NHK their attempts to convince him to stay, labeling his resignation amid unresolved issues as irresponsible. Kyodo, a state media outlet, reported.

  • In Japan’s move to roll out new 3D portrait banknotes, focus on cashless transactions, strengthening economy |

    New Delhi: Japan has introduced new banknotes for the first time in two decades. This comes as the nation grapples with economic challenges, having recently lost its status as the world’s third-largest economy to Germany. The country, now in the throes of a recession, hopes that the new currency will help bolster its economy.

    The National Printing Bureau of Japan has developed a distinctive technology for banknotes, using printed patterns to produce holograms of portraits that change direction based on the viewing angle.

    New Banknotes’ Features

    On Wednesday, the Bank of Japan released the new notes into circulation, featuring advanced security technologies, including 3-D holograms. Prime Minister Fumio Kishida unveiled the new 10,000 yen, 5,000 yen, and 1,000 yen notes.

    He praised the anti-counterfeiting measures and expressed hope that the new notes would be well-received by the public.

    The introduction of these banknotes is seen as a step towards strengthening the Japanese economy. Despite the global shift towards cashless transactions, Bank of Japan Governor Kazuo Ueda stressed the importance of cash for secure payments anywhere and anytime. The new notes are expected to coexist with the existing ones, ensuring a smooth transition.

    Cashless Transactions On The Rise

    Japan has seen a significant increase in cashless transactions over the past decade. In 2023, 39% of consumer spending was conducted through cashless payments. Despite this trend, the government and the Bank of Japan remain hopeful that the new banknotes will provide a boost to the struggling economy.

  • ‘I Am Deeply Anguished’: PM Modi Writes To Japan PM Fumio, Condoles Loss Of Lives In Earthquake |

    New Delhi: In a heartfelt letter to Japanese Prime Minister Fumio Kishida, Prime Minister Narendra Modi has expressed his profound sorrow and concern over the significant earthquake that struck Japan on January 1, 2024.

    Solidarity In Grief

    PM Modi conveyed, “I am deeply anguished to learn about the major earthquake, and I extend my deepest condolences to the bereaved families of those who lost their lives. We stand in solidarity with Japan and its people affected by this devastating disaster.”

    India Stands Ready To Assist

    Highlighting the special strategic and global partnership between India and Japan, PM Modi on Thursday affirmed, “As a special strategic and global partner, India values its relationship with Japan and is ready to extend all possible assistance at this hour of need.”

    Tragic Loss Of Lives In Japan

    The earthquake, measuring 7.5 magnitude, struck the Noto Peninsula and surrounding areas in central Japan on Monday, resulting in at least 64 casualties, according to Kyodo News. The extensive damage hampers search and rescue operations in the affected regions.

    City In Distress

    Wajima City in Ishikawa Prefecture bore the brunt of structural damage and fires. The full extent of the disaster caused by the powerful earthquake is still unfolding, with rubble and severed roads posing significant challenges.

    Restricted Access And Rescue Efforts

    The northern area of the remote Noto Peninsula faced restricted access for over 24 hours after the earthquake, complicating the ongoing search and rescue operations. Prime Minister Kishida, during a disaster emergency meeting, informed the media that the location became inaccessible due to a wrecked road.

    Wajima City witnessed the collapse of 25 buildings, including houses, with ongoing rescue operations by firefighters. Approximately 200 buildings, including shops and houses, are reported to have been burned around Asaichi Street, a popular tourist spot.

    US Geological Survey’s Report

    The United States Geological Survey reported that the earthquake occurred on the Noto Peninsula of Ishikawa Prefecture around 4.10 pm (local time), at a depth of 10 kilometres (6 miles).