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1. President Biden Expresses Support for Japan’s Permanent Membership on the U.N. Security Council

Sankei News reported that A total of six CCP and Russian bombers flew along the Japanese on the 24th. It is believed that this was a joint action by CCP China and Russia in response to the Quad Summit being held in Japan on the 24th. A total of 10 CCP and Russian naval vessels circled the Japanese last October. Communist China’s President Xi Jinping met with Russian President Vladimir Putin on February 4 and stated that “Communist China and Russia firmly support efforts to protect the fundamental interests of both countries”. Amid international condemnation of the invasion of Ukraine, CCP’s intention to work with Russia has become clear.

2. 6 Trillion Yen Infrastructure Support to Counter Communist China over the next 5 Years

According to Kyodo News, Japan, United States, Australia, and India held a summit meeting of the Quad, a cooperative framework for the four countries, at the Prime Minister’s Office on May 24. The four countries agreed to provide more than $50 billion (approximately 6.38 trillion yen) in assistance and investment in infrastructure development in the region over the next five years to realize a “free and open Indo-Pacific region. The meeting showed that the countries of the region will support developing countries facing debt problems to counter Communist China’s “One Belt, One Road,” a massive economic zone concept.

3. Quad Summit Meeting Joint Statement Mindful of Communist China Strongly Opposes Intimidating Actions

According to NHK on May 24, A joint statement was released after a summit meeting of the Quad, a framework of four countries: Japan, U.S., Australia, and India. In the joint statement, the leaders of the Quad expressed their commitment to an “inclusive, robust, free, and open Indo-Pacific,” and stated that the Quad would be a “driving force for good” in times of serious global challenges. With Communist China in mind, the statement clearly states that the four countries will defend compliance with international law and other measures to counter challenges to the rules-based maritime order, including in the East China Sea and South China Sea, and “strongly oppose any coercive, provocative, or unilateral actions that seek to change the current status and increase tensions in the region”.

4. Demonstration Project to Resume Accepting Foreign Tourists

Reported by NHK, the government is considering resuming the acceptance of foreign tourists, which is currently suspended, in stages from next month onward due to the improving infection situation and started a small group tour to Japan on a trial basis on the 24th. On the 24th, the first seven participants, including employees of an American travel agency, arrived at Narita Airport. The seven participants, together with tour guides from a Japanese travel agency, will spend approximately one week touring tourist destinations in the Kanto and Tohoku regions of Japan to confirm effective ways to ensure that people from overseas take basic Japanese measures such as temperature checks, disinfection, and the use of masks. A woman from Hawaii who runs a travel agency said, “I would like to see how infection control measures are implemented in Japan and bring my clients with me the next time I come to Japan.

5. Mitsui Sumitomo Trust HD to Establish Japan’s First Trust Company to Manage Crypto Assets

Amidst the growing concern over the leakage of crypto assets due to unauthorized access, Sumitomo Mitsui Trust Holdings has officially announced that it has entered a study to establish a trust company to manage crypto assets in cooperation with an exchange company, NHK reported on May 24. If established, it would be the first of its kind in Japan, with the aim of expanding business and investment using crypto assets. According to the announcement, Sumitomo Mitsui Trust Holdings and Bitbank, a crypto asset exchange company, have reached a basic agreement to study the establishment of a trust company to manage crypto assets such as Bitcoin held by corporations and institutional investors.

6. Continued Construction of High-Rise Condo in Sapporo

Asahi reported on May 24 that prices of newly built condominiums for sale in Sapporo continue to rise, with strong sales of “million-unit” condominiums priced more than ¥100 million pushing up the market, while the size of each unit tends to be smaller. The high prices are expected to continue due to rising construction costs and other factors, and there is a sense of caution about a “ceiling less” market that exceeds that of the bubble period of the past. Lions Tower Sapporo” is under construction facing Sapporo station avenue lined with department stores. According to the owner, Daikyo, 70% of the buyers are from Hokkaido, including company executives and medical practitioners from Sapporo and the Tokachi region. “Many of them are buying it as a second home”, said a person in charge.

【Himalaya Japan Galaxy- Alpha Planet】

Translator: Tagomi

Proofreading: Tagomi