Japan fires its first Tomahawk cruise missile in historic military test
Plus: strict immigration plan unveiled, food prices spike, and Chiikawa movie breaks box office records.
TL;DR
- Japan test-fired a Tomahawk from destroyer Chokai, advancing its long-range strike strategy amid regional tensions.
- New immigration plan raises permanent residency fees from ¥10,000 to ¥300,000 and imposes income thresholds starting October.
- Kioxia forecasts 31-fold quarterly profit surge from AI data center chip demand, though growth outlooks cloud the outlook.
- Food prices soar with 2,311 items rising in August and 18,347 planned increases through November.
Politics
Japan tests first Tomahawk cruise missile from warship
The destroyer JS Chokai launched the U.S.-made weapon in the Pacific, a milestone in Japan's expanding military deterrence.
Japan's Self-Defense Forces conducted the first test-firing of a Tomahawk cruise missile from the Aegis-equipped destroyer Chokai in the Pacific Ocean on July 31, marking a historic milestone in the nation's military capabilities (via Japan Today). The test deployed the U.S.-supplied weapons system as Japan fortifies its counterstrike ability within constitutional bounds, with plans to arm all eight Aegis destroyers.
Japan exports Patriot missiles to U.S. Japan shipped domestically produced Patriot surface-to-air missile interceptors to the United States for the first time under eased restrictions, signaling a shift in defense collaboration (via Japan Today). The export reflects Tokyo's deepening integration into regional security alliances.
Stricter immigration rules announced. Prime Minister Takaichi's cabinet unveiled a sweeping immigration control plan that tightens permanent residency standards, raising application fees 30-fold to ¥300,000 and imposing minimum income thresholds tied to household averages (via Nikkei Asia). New language and lifestyle program requirements for permanent residency take effect October 1.
Business and economy
Japan intervenes in currency markets as food prices accelerate
Financial authorities prop up the weakening yen while inflation pressures mount across the grocery aisle.
Japan's government intervened in foreign-exchange markets on July 31 to purchase yen and sell dollars, with U.S. authorities conducting a coordinated "rate check" as the currency spiked into the 157 range against the dollar (via Nikkei Asia). The joint action marks a rare show of synchronized policy to stem yen weakness.
Food prices jump sharply in August. A record 2,311 food and beverage items will raise prices in August, marking an 83% increase from a year earlier, with 18,347 items planned through November amid Middle East tensions and logistics costs (via The Japan Times). The surge threatens household budgets even as wages stall.
Kioxia forecasts 31-fold profit jump. Memory chip maker Kioxia Holdings announced a 31-fold surge in quarterly net profit driven by explosive demand for artificial intelligence data center hardware from U.S. tech giants (via Nikkei Asia). Market concerns about potential overinvestment tempered enthusiasm.
BOJ signals rate hike acceleration. Bank of Japan Governor Kazuo Ueda warned of "meaningful upside risks" to inflation from rising wages, commodity prices, and yen weakness, signaling the central bank may accelerate interest rate increases ahead (via Nikkei Asia).
Technology
Japan joins EU's Horizon Europe research program
The agreement lets Japanese companies and universities access EU research funding and collaborate on innovation.
Japan signed a deal to become an associated country of the European Union's Horizon Europe research and innovation program on July 31, opening access to billions in EU funding for joint research projects (via The Japan Times). The partnership spans digital technology, renewable energy, and advanced materials, positioning Japanese firms and academic institutions to tap the world's largest collaborative research framework.
Entertainment
Chiikawa movie rockets to box office history
The cute character franchise's first feature film nabbed the seventh-biggest opening day in Japanese cinema.
Chiikawa, the character franchise spanning merchandise and digital content, earned ¥990 million on its opening day—the seventh-biggest first day in Japanese box-office history—with the film "Chiikawa the Movie: The Secret of Mermaid Island" reaching ¥2.24 billion by July 31 (via The Japan Times). The success reveals the darkness lurking beneath the series' deceptively cute exterior.
Sports
Aonishiki reclaims ōzeki rank, dominates Nagoya sumo tournament
The Ukrainian rikishi's return to the sport's second-highest rank makes him its rising force.
Ukrainian rikishi Aonishiki won the July Grand Sumo Tournament in Nagoya, reclaiming his ōzeki rank after a remarkable comeback from injury (via The Japan Times). His third career Emperor's Cup cements his status as professional sumo's top performer, overshadowing both yokozuna in the sport's hierarchy.