Core Viewpoint - The new sensor developed by Asahi Kasei utilizes indium arsenide, which is more sensitive to magnetism than traditional silicon, enabling high-precision magnetic detection without the need for metal components [2][5]. Group 1: Product Development - The new sensor is expected to begin production in the second half of 2026, with actual deployment in electric vehicles anticipated after 2027 [4]. - This sensor will be integrated into the "traction inverter" used for motor control, playing a crucial role in current detection [4]. Group 2: Technical Advantages - The new sensor allows for a 10% reduction in the size of the inverter by eliminating the need for a metal component known as a "magnetic core," which was previously used to enhance the magnetic field [5]. - The increased sensitivity to magnetism enables the detection of subtle changes in current, resulting in faster response times and improved control precision of the inverter [5]. - Enhanced motor driving efficiency leads to reduced unnecessary power consumption, contributing to overall energy savings [5].

Core Viewpoint - Nasdaq is implementing new listing rules that will make it more difficult for Chinese companies to go public in the U.S., requiring a minimum fundraising of $25 million and stricter total market capitalization standards [2][5]. Group 1: New Listing Rules - New regulations will require new stocks to raise at least $25 million at the time of listing, with stricter total market capitalization standards [2]. - For companies aiming to list in markets targeting small businesses, the minimum total market capitalization must reach $15 million [4]. - Stocks with a total market capitalization below $5 million will face expedited delisting procedures [4]. Group 2: Market Context and Implications - The changes are part of a broader effort to protect market health and strengthen investor protection amid concerns over stock price manipulation in foreign stocks [4][5]. - There are over 100 Chinese companies listed in the U.S., including major firms like Alibaba and smaller companies [5]. - The tightening of listing rules is seen as a reflection of the ongoing U.S.-China tensions in the capital markets [5].

Core Viewpoint - Murata Manufacturing is strategically investing 220 billion yen over the next three years to prepare for industry restructuring in the electronic components sector, driven by the maturation of smartphone and automotive markets [2][4]. Group 1: Strategic Investments and Mergers - The company has a history of growth through strategic mergers and acquisitions, starting with Erie Technological Products in 1980, which was rare for Japanese firms at the time [6][7]. - The planned 220 billion yen investment is aimed at mergers and acquisitions to absorb new technologies and achieve new growth [2][4]. - Murata's overseas sales now account for over 90% of its revenue, highlighting its successful international expansion [6]. Group 2: Market Dynamics and Competition - The electronic components industry is expected to undergo restructuring, with Murata's president noting that companies have not reduced their numbers despite stagnant global production [4]. - The Japanese electronic components industry holds a 33% share of the global market, maintaining competitiveness compared to semiconductors and displays [4]. Group 3: Challenges and Future Directions - Murata faced challenges with its battery business acquired from Sony in 2017, which has been impacted by competition from Chinese firms, leading to an asset impairment loss of approximately 50 billion yen in the fiscal year 2023 [8]. - The company is exploring new growth markets, including robotics and space technology, and aims to leverage acquisitions to target these sectors [9].

Core Insights - Nissan's global sales in July 2025 exceeded the previous year's performance for the first time in 16 months, with a year-on-year increase of 1%, reaching 262,745 units [2] - The launch of the electric vehicle "N7" in China has significantly boosted sales, contributing to a 22% year-on-year increase in sales, totaling 57,359 units [4] - Despite improvements in sales performance, the domestic market in Japan and Europe remains sluggish, with Japan experiencing a 19% decline, the largest among the eight major Japanese automakers [4] Regional Performance - China has played a crucial role in driving sales growth, with a notable 22% increase [4] - North America saw a 4% increase in sales, totaling 107,929 units, despite a decline in the U.S. market [4] - Japan's domestic sales have decreased by 19%, indicating ongoing challenges in the local market [4] Future Outlook - Nissan plans to undertake a comprehensive improvement of the EV "LEAF" (known as "聆风" in China) for the first time in eight years, which is seen as a critical factor for reversing the current sales decline [4]

Group 1 - Panasonic Holdings has established its second large-scale battery factory in Kansas, USA, following its facility in Nevada, with an investment of approximately $4 billion and plans to employ around 4,000 workers in the future [5][8]. - The opening ceremony of the new electric vehicle (EV) battery factory was attended by Kansas Deputy Governor David Toland, who highlighted it as the largest economic development project in the state's history [5][6]. - However, the outlook for this project is overshadowed by challenges, including Tesla's struggles and the cancellation of government incentives in the US [6][9]. Group 2 - The new Panasonic battery factory in Kansas is expected to begin full production, but this has been delayed, with 2026 being considered a critical year for operations [6].

Core Viewpoint - The article highlights that Japan's national average minimum wage has reached a record high, approximately 54 RMB, indicating a significant increase in labor costs and potential implications for various industries in Japan [2]. Group 1: Minimum Wage Impact - The national average minimum wage in Japan has increased to a new high, which is approximately 54 RMB [2]. - This increase in minimum wage reflects a broader trend of rising labor costs in Japan, which may affect profitability for companies operating in labor-intensive sectors [2]. - The rise in minimum wage could lead to increased consumer spending power, potentially benefiting retail and service industries [2].

Group 1 - The core viewpoint of the article highlights the recent trade agreement between the US and Japan, which includes significant tariff reductions on various goods, particularly automobiles and agricultural products [2][4][6]. - The US will reduce the current 25% tariff on automobiles to 12.5%, resulting in a total tariff rate of 15% when combined with the existing 2.5% rate [2][4]. - The agreement includes a provision for Japan to increase its import of US rice by 75% within the zero-tariff minimum access quota, raising the total US rice imports to approximately 60,000 tons [7]. Group 2 - The US will eliminate tariffs on Japanese generic drugs and their raw materials, as well as on Japanese aircraft and aircraft parts [6][7]. - The agreement also stipulates that Japan will import $8 billion worth of US agricultural products annually, including soybeans, corn, and bioethanol [7]. - A memorandum related to a $550 billion investment from Japan into the US was signed, emphasizing that the investment targets will be selected by the US government [6][7].

Core Viewpoint - The article highlights the dominance of China in the production of rare metals, with significant implications for global supply chains and potential risks for industries reliant on these materials [1][5][9]. Group 1: Risk Elements and Production - There are 118 elements that constitute materials, with 65 elements having calculable production shares by country. Among these, 36 are classified as "risk elements," with 30 of them being predominantly produced by China [3][4]. - China is the largest producer of 80% of the identified risk elements, which include critical materials for electronics and electric vehicles (EVs) [5][7]. - The production of certain elements, such as indium (In) and bismuth (Bi), is heavily concentrated in China, with over 70% of the refining share controlled by the country [5]. Group 2: Global Supply Chain Concerns - The article discusses the urgent search by Japan, the US, and Europe for stable supplies of rare metals due to potential supply risks, particularly for materials essential in smartphones and EVs [1][5]. - The geopolitical landscape is shifting, with countries like Indonesia imposing export bans on nickel (Ni), which could further complicate the supply chain for risk elements [7]. Group 3: Japan's Response and Initiatives - Japan is exploring seabed resources around Minami-Torishima Island to secure rare earth elements, aiming to reduce reliance on Chinese supplies [8]. - The country is also focusing on urban mining, targeting waste from old appliances and EVs to recover valuable materials like cobalt (Co) and nickel [9]. - A commercial plant for lithium-ion battery recycling is set to be completed by Sumitomo Metal Mining in June 2026, indicating a proactive approach to resource recovery [9].

在内需持续不足、经济前景的不确定性难以消除的情况下，股价快速上涨，让人想起了股价 暴涨之后暴跌的2015年。彭博社4日报道称，当局正在研究抑制投机交易的措施，以推动行 情暴涨稳定下来。 考虑到中国市场整体的总市值和交易量的增加，目前的融资交易余额并没有达到需过分警惕 的水平。尽管如此，"融资交易的增加可能成为股价下跌时加剧波动性的主要原因"（瑞穗证 券的王申申）。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 考虑到中国市场整体的总市值和交易量的增加，目前的融资交易余额并没有达到需过分警惕的水平。尽 管如此，"融资交易的增加可能成为股价下跌时加剧波动性的主要原因"…… 中国股市的融资交易余额激增，创历史新高。英国LSEG的统计显示，截至9月1日已增至约 2.29万亿元。上证综合指数徘徊在近10年来的高位。希望通过向金融机构借入资金赚取收益 的投资者增多。 中国股市走高的背景是对中美摩擦的过度警惕感的消退和人工智能（AI）等高科技企业的增长 预期。在房地产长期不景气的背景下，当局鼓励股票投资，促进资产形成。瑞穗证券的高级 中国股 ...

Core Viewpoint - The export of American cotton to China has decreased by 90% in the first half of 2025, while exports to countries like Vietnam and Pakistan have significantly increased, indicating a shift in trade dynamics due to tariff policies and production relocation in the apparel industry [2][4][6]. Group 1: Changes in Export Destinations - American cotton exports to China fell by 90% in the first half of 2025, while exports to Vietnam increased approximately 2.7 times [4]. - The shift in export destinations is attributed to the tariff policies of the Trump administration and the relocation of apparel production to lower-cost regions outside of China [6]. - The U.S. has reduced tariffs on imports from Vietnam from 46% to 20% and from Pakistan from 29% to 19%, enhancing the competitive position of Southeast and South Asian countries [6]. Group 2: Impact of Tariffs and Trade Policies - The Trump administration's tariffs have led to a significant reduction in cotton exports to China, with a cumulative 145% tariff imposed in April 2025, later negotiated down to 30% [6]. - The ongoing trade tensions and tariff uncertainties are expected to continue influencing the cotton market, with potential impacts on production and pricing [8]. - The USDA projects that U.S. cotton exports will reach 11.9 million bales for the 2024-2025 season, with increases in exports to other regions offsetting the decline to China [9]. Group 3: Price Trends and Market Outlook - Cotton prices have shown weak upward momentum, hovering around 66 cents per pound, slightly below the beginning of the year [11]. - The uncertainty surrounding tariffs and the recovery of textile product demand remains a significant concern for the cotton market [11]. - The potential for increased imports of American cotton may arise as India plans to eliminate cotton import tariffs by September 30 [11].