黄金股（附否决权的股票）拥有比普通表决权更大的权限，即使只有一股，也可以否决董事的选 任、解聘或股东大会决议等。日铁为实现收购，正在与美国政府进行最后阶段的磋商，最终也有 可能不转让黄金股…… 美国钢铁公司总部所在的美国宾夕法尼亚州选出的参议员戴维·麦考密克（共和党）27日在接受 美国消费者新闻与商业频道（CNBC）采访时表示，"美国钢铁公司的首席执行官（CEO）必须是 美国人，董事会的一半以上为美国人。可能会发行'黄金股'吧"。 日本经济新闻（中文版：日经中文网）5月27日获悉，围绕收购美国钢铁公司，日本制铁正在讨 论将即使持有少数股份也可以对重要事项行使否决权的"黄金股"让渡给美国政府。黄金股是众多 方案之一，似乎尚未向美国政府提出。日铁为实现收购，正在与美国政府进行最后阶段的磋商， 最终也有可能不转让黄金股。 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。 黄金股（附否决权的股票）拥有比普通表决权更大的权限，即使只有一股，也可以否决董事的选 任、解聘或股东大会决议等。如果拥有美国钢铁公司的黄金股，美国政府在日铁收购后也能保持 对美钢的影响力。 对于提出将美钢全资子公司化的日铁， ...

默克尔自2005年到2021年担任了四届、16年的德国总理。她提到2008年的雷曼危机及之后新兴 市场国家集团"金砖国家（BRICS）"影响力的扩大，回顾称自2017年开始的美国特朗普政府第一 任期起，"很多价值观发生了动摇"。 默克尔还提到了以乌克兰亲欧美派推翻亲俄派政府的政变为契机、2014年开始的东部争端时的对 俄外交。她回忆称，与俄罗斯总统普京"即使有矛盾，也应该交换意见"。 关于如何与提出高关税政策等的特朗普打交道，默克尔果断地说："不应该畏惧"。她表示，对于 欧洲和德国来说，"实现繁荣需要美国"，在此基础上指出"与美国对话是必要的，但我们不能主动 做激怒特朗普的事情"。 默克尔表示欧盟（EU）的团结不可或缺，称"欧盟有必要考虑共同利益"。 默克尔指出美国从与亚洲等国的贸易中受益，提出想法称："从中期来看，美国和特朗普都应该意 识到，有国际合作才会变得更加繁荣"。 围绕特朗普政府敦促北约（NATO）成员国提高国防费一事，默克尔认为德国有必要加快提高 （国防费）的速度。她表示："不能形成只有美国承担更多负担的情况"。 在访谈节目中发言的德国前总理默克尔（5月27日、东京都千代田区） 德国前总理默克尔在 ...

小栗太：特朗普政府在关税和汇率方面的言论反复不一，导致市场参与者避免倾向于单一方向的 买卖操作。失去方向感的日元汇率，今后将如何发展？有观点认为，关税问题可能会在7月4日美 国独立日告一段落…… 小栗太： 日元汇率正在徘徊不定。自4月以来，围绕1美元兑140至150日元的区间震荡，走势缺 乏明确方向。这是因为美国特朗普政府在关税和汇率方面的言论反复不一，导致市场参与者避免 倾向于单一方向的买卖操作。如果继续找不到明确的走势方向，从中长期来看，日元汇率可能陷 入胶着状态。 "在美国华尔街，关于美国投资资金外流的担忧前所未有地加剧了"，福冈金融集团首席策略师佐 佐木融在4月访问当地时如此感受到。从4月初开始，日元升值、美元贬值的趋势加快，日元汇率 一度迅速跃升至140日元左右兑1美元的水平。 这一背景是由于市场对特朗普政府强硬关税政策可能导致美国经济恶化的担忧。美国一度出现了 美元、美股和美债同时遭到抛售的"三杀"局面，对此，特朗普政府慌忙放松了加征关税的态度。 在与对美贸易顺差较大的中国和欧盟的关税谈判中，美国也转而趋于软化，开始放宽税率或延长 实施期限。 市场对特朗普政府政策的变化极为敏感。从年初以来日元汇率 ...

日经GO 东京大学考虑临时性接收哈佛留学生，日本知名高校纷纷探讨 原创 阅读全文 ...

日经GO 东京都心二手房1年涨价4成，70平806万人民币 原创 阅读全文 ...

Group 1 - The current gold-to-silver ratio has reached 100 times, the highest level since the Gulf War and the COVID-19 pandemic, indicating a significant divergence in the precious metals market [1][3] - Historical data shows that the gold-to-silver ratio exceeding 100 has only occurred twice since 1982, during the Gulf War in 1991 and during the pandemic in 2020, when it peaked at 128 times [3] - Analysts suggest that the high ratio may persist in the short term due to the declining creditworthiness of the US dollar, leading investors to view gold as a "non-national currency" [3][4] Group 2 - Major rating agencies, including Moody's, have downgraded US government bonds, which were traditionally seen as safe assets, causing a shift in investment towards gold [4] - The performance of gold has outpaced other currencies, with a notable increase of 12.5% prior to the announcement of tariff suspensions by former President Trump, compared to smaller gains in the euro and other currencies [4] - Central banks, particularly in emerging markets, continue to purchase gold, indicating a long-term trend where gold is viewed as a more stable asset compared to silver, which is heavily influenced by industrial demand [5]

Group 1 - The core viewpoint of the article highlights that Volvo is facing significant challenges due to increased costs from Trump's tariffs and sluggish EV sales, leading to unavoidable large-scale layoffs [1][3]. - Volvo announced plans to cut 3,000 jobs, which represents 7% of its global workforce, focusing on office positions, including 1,200 employees in Sweden and 1,000 consultants [2]. - The company aims to reduce costs by 18 billion kronor through layoffs and investment cuts, although the specific number of layoffs was not disclosed initially [2]. Group 2 - The layoffs are expected to incur additional costs of up to 1.5 billion kronor [3]. - Volvo's electric vehicle sales are relatively high compared to competitors, but the company has been significantly impacted, with operating profit for Q1 2025 dropping to 1.9 billion kronor, a 60% year-on-year decrease [3]. - Due to the uncertainty surrounding Trump's tariffs, Volvo has withdrawn its performance forecast for the fiscal year 2025 [3].

Core Viewpoint - Japan's net foreign assets reached a record high of 533 trillion 500 billion yen by the end of 2024, marking a 12.9% increase from the end of 2023, but it has been surpassed by Germany, falling to second place for the first time in 34 years [1][2]. Group 1: Net Foreign Assets - As of the end of 2024, Japan's net foreign assets amounted to 533 trillion 500 billion yen, an increase of 12.9% from the previous year, marking the sixth consecutive year of record highs [1]. - Germany has become the world's largest net creditor nation with net foreign assets of 569 trillion 6512 billion yen, surpassing Japan [2]. - China and Hong Kong follow Japan, with net foreign assets of 516 trillion 2809 billion yen and 320 trillion 2584 billion yen, respectively [2]. Group 2: Foreign Assets and Liabilities - Japan's total foreign assets reached 1659 trillion 221 billion yen, an 11.4% increase from the end of 2023, continuing a 16-year growth trend [3]. - Approximately 70% of Japan's total foreign assets are denominated in foreign currencies, which increased in yen terms by 110 trillion yen due to yen depreciation [3]. - Japan's foreign liabilities amounted to 1125 trillion 9721 billion yen, a 10.7% year-on-year increase, marking six consecutive years of growth [3].

宝丽奥蜜思旗下产品 将清算其中国销售子公司奥蜜思北京。今后由上海公司和东京总部组织继续运营在华销售业 务…… 宝丽奥蜜思控股集团（POLA ORBIS HOLDINGS）5月26日发布消息称，将清算其中国销售子公 司"奥蜜思北京"。宝丽奥蜜思认为，由于中国经济放缓以及电商市场竞争激烈，无法预测收益能 否尽快改善，于是作出清算决定。 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 预计于2025年内完成清算。清算完成后，将在2025财年（截至2025年12月）计提13亿日元的特 别损失。 今后，宝丽奥蜜思将以统管宝丽与奥蜜思两个品牌的地区统括公司"宝丽奥蜜思上海"以及统管海 外业务的东京总部组织"PO GLOBAL"为核心，继续在中国开展销售业务。此次清算的奥蜜思北 京成立于2008年，主要通过当地网络销售渠道，销售以中等价位护肤产品为中心的奥蜜思品牌商 品。据悉，此次清算属于化妆品业务改革及各地区业绩改善推进举措的一环。宝丽奥蜜思表 示，"将大力发展有望实现更稳定增长的品牌和地区"。 ...

Core Viewpoint - China's exports to ASEAN increased by 21% year-on-year in April, compensating for a 21% decline in exports to the United States due to high tariffs imposed by the Trump administration [1][3]. Group 1: Trade Dynamics - Exports to ASEAN countries, particularly Vietnam, Thailand, and Indonesia, saw a growth of 20-30% in April, while exports to Singapore and Malaysia rebounded by 15% after a decline in March [1]. - The decline in exports to the U.S. has led to an increase in imports from China by ASEAN countries, with electrical products and components from China rising by 54% and machinery by 44% in Vietnam [2][3]. Group 2: Impact on Industries - The automotive sector in Indonesia experienced a significant increase in the import of Chinese electric vehicles, with sales reaching four times that of the previous year, accounting for 14% of new car sales [3]. - The textile and footwear industries in Indonesia are facing factory closures and layoffs due to the influx of low-priced Chinese products, raising concerns about increased competition for local businesses [4]. Group 3: Government Responses - Malaysia has implemented anti-dumping duties on certain Chinese products, such as PET used for plastic bottles, in response to the rising influx of low-priced imports [5]. - India has also introduced emergency import restrictions on certain steel products from China, imposing a temporary 12% import duty [5].