This Week in Japan

JR is planning to launch a ferry service between central Tokyo and Haneda Airport that could begin as early as next year. The ferry service coupled with the planning train service to Haneda will increase connectivity and convenience for travellers as well as give more access routes to the airport in the event of a natural disaster. They hope is that the service can be launched ahead of the Olympics next year and will connect popular tourist districts directly to the airport.

To read more here are some useful links: The Japan Times    The Mainichi

In June Japan surpassed China as the largest holder of US treasuries. Japan's holdings of US bonds bills and notes reached a 3-year high and increased by 21.9 billion bringing the total holdings to 1.12 trillion USD. Amidst the trade war between China and the US, China has been selling US treasuries for the past 4 months, however this month China bought back some US treasuries bringing its total to 1.1 trillion USD. The last time Japan was the US's biggest foreign creditor was in May 2017, since then China has held the number 1 position until June of this year. 

To read more here are some useful links: Financial Times    Bloomberg 

The Japanese Labor Ministry announced that the legal minimum wage will increase by ¥27 to ¥901 yen per hour of work on average. Kagoshima Prefecture currently has the lowest minimum wage and Tokyo has the highest. The new increase in hourly wage will bring Kagoshima's minimum wage to ¥790 and Tokyo's minimum wage to ¥1,013 yen. Only Tokyo and Kanagawa prefectures will have minimum wages that exceed ¥1,000. This is the first time minimum wages have crossed the ¥1,000 mark. The increases are set to take place in October of this year. 

To read more here are some useful links: Asahi Shimbun   Japan Times

In preparation for the 2020 Olympics, the Japanese transport ministry has decided to standardize all road signs to make it easier for foreign visitors to understand. The road signs will be standardized according to English-language tourist information guides and the maps of the Geospatial Information Authority. In Tokyo, Kanagawa, Saitama and Chiba Prefectures where the Olympic games will be held, 19,800 signs have been flagged for modification and improvements have already been made on 14,300 signs. 

To read more here are some useful links: The Japan News   Japan Times