Average Price of New Condos in Tokyo’s 23 Wards Exceeds 100 Million Yen for Second Consecutive Year📈 📈 📈
The Real Estate Economic Institute announced on January 23 that the average price of newly built condominiums released in Tokyo’s 23 wards in fiscal year 2024 was 111.81 million yen, a 2.6% decrease from the previous year. Although prices slightly declined due to a reaction to the release of ultra-high-end properties in the previous year, the average remained above 100 million yen for the second consecutive year. High prices were sustained due to factors such as rising construction material costs.💭 💭 💭
Across the Greater Tokyo Area (including Tokyo and three neighboring prefectures), the average price fell by 3.5% to 78.2 million yen. The decline in prices in the 23 wards, which hold a significant market share, contributed to the overall decrease.📊 📊 📊
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The Real Estate Economic Institute announced on January 23 that the average price of newly built condominiums released in Tokyo’s 23 wards in fiscal year 2024 was 111.81 million yen, a 2.6% decrease from the previous year. Although prices slightly declined due to a reaction to the release of ultra-high-end properties in the previous year, the average remained above 100 million yen for the second consecutive year. High prices were sustained due to factors such as rising construction material costs.
Across the Greater Tokyo Area (including Tokyo and three neighboring prefectures), the average price fell by 3.5% to 78.2 million yen. The decline in prices in the 23 wards, which hold a significant market share, contributed to the overall decrease.
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Two Honorees for the Japan Prize: Pioneer of Blue Carbon and Semiconductor Technology🏅 🏅 🏅
The Japan Prize Foundation announced on January 22 that this year’s Japan Prize will be awarded to Professor Russell Dupuis (77) of the Georgia Institute of Technology and Distinguished Professor Carlos Duarte (64) of King Abdullah University of Science and Technology.📸 📸 📸 📸
Professor Dupuis, an expert in semiconductor engineering, developed a method in 1977 to fabricate semiconductor film structures by combining materials with different properties, such as organometallics and gases. This technological breakthrough paved the way for large-scale commercial production of LEDs and semiconductor lasers.⭐️ ⭐️ ⭐️
Professor Duarte, a marine biologist, was recognized for coining the term “blue carbon” to describe carbon captured by marine ecosystems. His efforts in conservation activities to protect these ecosystems were also highly regarded.🌊🌊🐟
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The Japan Prize Foundation announced on January 22 that this year’s Japan Prize will be awarded to Professor Russell Dupuis (77) of the Georgia Institute of Technology and Distinguished Professor Carlos Duarte (64) of King Abdullah University of Science and Technology.
Professor Dupuis, an expert in semiconductor engineering, developed a method in 1977 to fabricate semiconductor film structures by combining materials with different properties, such as organometallics and gases. This technological breakthrough paved the way for large-scale commercial production of LEDs and semiconductor lasers.
Professor Duarte, a marine biologist, was recognized for coining the term “blue carbon” to describe carbon captured by marine ecosystems. His efforts in conservation activities to protect these ecosystems were also highly regarded.🌊🌊
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410,000 Lights Illuminate Recovery: The 30th Kobe Luminarie Begins
The 30th Kobe Luminarie, a festival of lights dedicated to the memory of those who lost their lives in the Great Hanshin-Awaji Earthquake and to hopes for recovery, began on January 24 in Chuo Ward, Kobe City. A total of 410,000 lightbulbs will brighten the city center’s nights until February 2.💎 💎 💎
On the opening day, a lighting ceremony was held at the Former Foreign Settlement venue. After a moment of silence was observed for the earthquake victims, elementary school students sang the recovery song Shiawase wo Hakoberu You ni (“So Happiness Can Be Delivered”), which has been passed down through the years.🌱 🌱 🌱
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The 30th Kobe Luminarie, a festival of lights dedicated to the memory of those who lost their lives in the Great Hanshin-Awaji Earthquake and to hopes for recovery, began on January 24 in Chuo Ward, Kobe City. A total of 410,000 lightbulbs will brighten the city center’s nights until February 2.
On the opening day, a lighting ceremony was held at the Former Foreign Settlement venue. After a moment of silence was observed for the earthquake victims, elementary school students sang the recovery song Shiawase wo Hakoberu You ni (“So Happiness Can Be Delivered”), which has been passed down through the years.
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Bank of Japan Decides on Additional Rate Hike, Raising to Around 0.5%—Highest Level in 17 Years📈
The Bank of Japan (BOJ) decided on January 24 during its Monetary Policy Meeting to implement an additional rate hike, the first since July of last year. The target rate for short-term interbank loans will be raised from around 0.25% to around 0.5%.👀 👀 👀
At a press conference following the meeting, BOJ Governor Kazuo Ueda expressed his intention to continue raising rates in the future but did not specify the timing or pace of further hikes.🖥 🖥 🖥
This marks the first time since October 2008, approximately 17 years ago, that the policy rate has reached the 0.5% level.🥸 🥸 🥸
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The Bank of Japan (BOJ) decided on January 24 during its Monetary Policy Meeting to implement an additional rate hike, the first since July of last year. The target rate for short-term interbank loans will be raised from around 0.25% to around 0.5%.
At a press conference following the meeting, BOJ Governor Kazuo Ueda expressed his intention to continue raising rates in the future but did not specify the timing or pace of further hikes.
This marks the first time since October 2008, approximately 17 years ago, that the policy rate has reached the 0.5% level.
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Historic Accommodation in Shizuoka Offers Stays Starting at 600,000 Yen
A historic building, once the residence of a mining tycoon, now operates as a luxury guesthouse. Nestled within a sprawling estate with stunning gardens, the accommodation’s rates start at 600,000 yen (approximately $3,800) per night.😲 😲 😲
Designated as a Registered Tangible Cultural Property, the property is characterized by its intricate decorations and meticulous craftsmanship throughout.👏 👏 👏
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A historic building, once the residence of a mining tycoon, now operates as a luxury guesthouse. Nestled within a sprawling estate with stunning gardens, the accommodation’s rates start at 600,000 yen (approximately $3,800) per night.
Designated as a Registered Tangible Cultural Property, the property is characterized by its intricate decorations and meticulous craftsmanship throughout.
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Mitsubishi Motors to Opt Out of Honda-Nissan Holding Company☕️
Mitsubishi Motors has finalized its decision not to participate in the management integration plan proposed by Honda and Nissan, citing fears of being marginalized, sources revealed on January 24.🫥 🫥 🫥
Instead, Mitsubishi plans to remain under Nissan, its largest shareholder, while seeking ways to collaborate with both automakers.😐 😐 😐
Honda and Nissan are considering establishing a holding company in August 2026, with plans to delist and operate under a single umbrella. However, Mitsubishi intends to stay outside the holding company framework and maintain its position as a Nissan subsidiary, with Nissan holding just under 30% of Mitsubishi’s shares.😮💨 😮💨 😮💨
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Mitsubishi Motors has finalized its decision not to participate in the management integration plan proposed by Honda and Nissan, citing fears of being marginalized, sources revealed on January 24.
Instead, Mitsubishi plans to remain under Nissan, its largest shareholder, while seeking ways to collaborate with both automakers.
Honda and Nissan are considering establishing a holding company in August 2026, with plans to delist and operate under a single umbrella. However, Mitsubishi intends to stay outside the holding company framework and maintain its position as a Nissan subsidiary, with Nissan holding just under 30% of Mitsubishi’s shares.
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U.S. Prosecutors Recommend 4 Years and 9 Months Imprisonment for Shohei Ohtani’s Former Interpreter🫣
U.S. federal prosecutors in Los Angeles, California, have recommended a sentence of 4 years and 9 months in prison, along with 3 years of supervised release, for Ippei Mizuhara (40), former interpreter for MLB Los Angeles Dodgers player Shohei Ohtani (30). Mizuhara is accused of bank fraud and other charges. The prosecutors also called for Mizuhara to pay approximately $17 million in restitution to Ohtani. The sentencing is scheduled to take place at the federal court in Santa Ana, California, on February 6.🫤 🫤 🫤
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U.S. federal prosecutors in Los Angeles, California, have recommended a sentence of 4 years and 9 months in prison, along with 3 years of supervised release, for Ippei Mizuhara (40), former interpreter for MLB Los Angeles Dodgers player Shohei Ohtani (30). Mizuhara is accused of bank fraud and other charges. The prosecutors also called for Mizuhara to pay approximately $17 million in restitution to Ohtani. The sentencing is scheduled to take place at the federal court in Santa Ana, California, on February 6.
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Kyoto’s Uzumasa Eigamura Holds First “Spring Festival Celebration” for Its 50th Anniversary🏮
On January 25, Toei Uzumasa Eigamura, celebrating its 50th anniversary this year, launched its first event targeting tourists from the Chinese-speaking world visiting Japan for the Lunar New Year. Titled “Red and Gold Spring Festival Celebration,” the event features red lanterns adorning the Edo-era streetscape. At the theater Nakamuraza, a live performance called Ooku no Hatsuharu (New Year in the Inner Chambers) showcased maids of the Edo Castle’s Ooku performing dances and playing the shamisen.👏 👏 👏
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On January 25, Toei Uzumasa Eigamura, celebrating its 50th anniversary this year, launched its first event targeting tourists from the Chinese-speaking world visiting Japan for the Lunar New Year. Titled “Red and Gold Spring Festival Celebration,” the event features red lanterns adorning the Edo-era streetscape. At the theater Nakamuraza, a live performance called Ooku no Hatsuharu (New Year in the Inner Chambers) showcased maids of the Edo Castle’s Ooku performing dances and playing the shamisen.
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