似乎设想主要面向在中国开展业务的西方企业，对总部设在中国大陆和澳门的中国企业的出口仍为"原 则上禁止"。 对象产品为英伟达的H200以及具有同等或更低性能的AI半导体，包括美国超微半导体（AMD）于2024 年发售的AI半导体"MI325X"。 出口仅限"过剩的部分" 对象为英伟达的H200以及具有同等或更低性能的AI半导体，还有AMD的MI325X。似乎设想主要面向 在中国开展业务的西方企业，对总部设在中国大陆和澳门的中国企业的出口仍为"原则上禁止"。还要求 出口企业主要将美国国内剩余的部分用于对华出口…… 围绕此前美国原则上禁止向中国出口的括英伟达的"H200"在内的部分人工智能（AI）半导体，美国商 务部1月13日提出方针称，将调整为对每一笔出口实行逐案审批的许可制度。此举是继美国总统特朗普 于2025年12月宣布允许H200对华出口之后作出的调整，将于15日修改规则。 英伟达CEO黄仁勋（REUTERS） 对中国企业出口维持"原则上禁止" 在13日公布的联邦政府公报方案中，提出了关于AI半导体出口管理的新规则方案。将以获得美国商务 部的许可为前提，允许部分AI半导体对华出口。 即便属于上一代产品，对英 ...

Core Viewpoint - Japanese Prime Minister Sanna Takashi's decision to dissolve the House of Representatives aims to consolidate political power early, with expectations of increased seats for the ruling Liberal Democratic Party (LDP) due to high cabinet approval ratings exceeding 70% [2][4]. Group 1: Political Context - The dissolution of the House of Representatives is anticipated to occur at the beginning of the regular Diet session on January 23, with the earliest election announcement on January 27 and voting on February 8 [4]. - The LDP's cabinet approval rating has remained above 70% since its establishment in October, with a recent poll indicating a 75% approval rate in December 2025, attributed to Takashi's leadership and economic policy expectations [4][6]. - A senior LDP official expressed confidence that the party would gain seats in the upcoming election, based on favorable polling conducted last autumn [4]. Group 2: Historical Context and Current Dynamics - The last dissolution and election occurred in October 2024 under the Ishiba regime, where the LDP lost 56 seats, resulting in a minority government [6]. - Currently, the LDP and its coalition partner, the Japan Innovation Party, hold a total of 233 seats in the 465-seat House, slightly above the majority threshold [6]. - The LDP aims to secure a majority on its own in the next election to facilitate responsible fiscal policies and security measures, with the belief that no major elections will occur before the summer 2028 House of Councillors election [6]. Group 3: Risks and Challenges - The decision to dissolve the House of Representatives carries risks, including potential policy stagnation and difficulties in passing the 2026 budget, which includes a record defense budget exceeding 9 trillion yen [8]. - Delays in budget approval could lead to temporary budgets, adversely affecting citizens and local governments [8]. - Opposition parties have criticized the timing of the dissolution, questioning its impact on economic policies and the government's accountability regarding rising prices and political funding issues [9]. Group 4: Election Dynamics - The LDP's support rate in December was only 37%, significantly lower than the cabinet's approval rating, indicating a potential disconnect between the party and public sentiment [9]. - The relationship between the LDP and its former coalition partner, Komeito, remains uncertain, with no current electoral cooperation established [9]. - Even if the LDP and the Japan Innovation Party gain seats in the House, the situation in the House of Councillors, where the ruling coalition holds only 119 seats, will not change significantly [9].

Group 1 - Trump expressed a positive attitude towards Chinese car manufacturers establishing factories in the U.S., stating "let China in" during a speech in Detroit [2] - He emphasized that tariffs have prompted American automakers like General Motors and Ford to make significant investments in the U.S. [4] - Trump indicated that he does not exclude Chinese car manufacturers from producing in the U.S., aligning with previous statements made before his presidency [4] Group 2 - Chinese companies, including BYD, are striving to expand into overseas markets, with some indicating potential plans to enter the U.S. market [6] - Analysts warn that the entry of Chinese car manufacturers into the U.S. could impact Japanese companies that currently have an advantage in the North American market [6] - The North American strategy of Japanese automakers is based on the premise that Chinese cars do not enter the U.S. market, and their ecosystem may be threatened if this changes [6]

Core Viewpoint - Honda announced the update of its automotive logo, featuring a new "H" emblem that symbolizes the company's shift towards electric vehicles and a broader mobility vision [2][4][6]. Group 1: Logo Update - The new "H" emblem retains the outline of the original logo while adopting a shape that resembles open hands, representing the expansion of mobility possibilities and a direct engagement with users [4]. - The updated logo will be used not only on the new generation of electric vehicles (EVs) and hybrid vehicles (HVs) but also on racing models and advertising materials for dealerships [6]. Group 2: Business Transformation - Honda views the new logo as a symbol of its transformation towards an electric vehicle-centric business model, indicating a strategic shift in its operations and branding [6].

Core Viewpoint - The Japanese Prime Minister, Fumio Kishida, is expected to dissolve the House of Representatives and call for elections in early February 2024, aiming to expand the ruling party's seats while the cabinet's approval rating remains high [2][4]. Group 1: Election Timing and Strategy - The last House of Representatives election was held in October 2024, making the interval between elections relatively short at just 1 year and 4 months [4]. - There are various proposals for the election announcement and voting dates, including January 27 for the announcement and February 8 for voting, or February 3 for the announcement and February 15 for voting [4]. - Kishida's decision to dissolve the House at the start of the regular session has been criticized as contradictory to his previous cautious stance on early dissolution [4]. Group 2: Political Context and Challenges - The ruling Liberal Democratic Party (LDP) and the Japan Innovation Party hold a slim majority with 233 seats in the House, while the ruling party is in a minority position in the Senate, leading to an unstable political environment [5]. - Kishida's push for active fiscal policies and enhanced intelligence capabilities has faced criticism from opposition parties [5]. - The LDP's coalition agreement includes conservative policies, which may deepen the divide between parties as many are set with a deadline of the 2026 regular session [5]. Group 3: Internal and External Factors - Kishida's government has maintained a cabinet approval rating above 70% for three consecutive months since its establishment in October 2025, which has fueled internal discussions about dissolving the House while support is high [5]. - The upcoming budget deliberations in February and March may expose the government to criticism from opposition parties, increasing the urgency for elections [5]. - Kishida's recent diplomatic engagements with leaders from South Korea and Italy may serve to showcase international cooperation before the elections [5]. Group 4: Implications of Dissolution - If the House is dissolved at the start of the regular session, budget discussions will be postponed until after the elections, complicating the approval process for the annual budget [7]. - The decision to dissolve may also be influenced by China's increasingly tough stance towards Japan, particularly in light of Kishida's comments regarding Taiwan [7]. - Analysts suggest that if Kishida wins the upcoming elections, it could stabilize his administration and potentially lead to a more favorable response from China [7].

Market Overview - On January 13, the Japanese stock market experienced a significant rise, with the Nikkei average index surpassing 53,000 points, driven by expectations of a potential election and stable governance under Prime Minister Fumio Kishida [2][4] - The Japanese yen depreciated to approximately 159 yen against the US dollar, marking a low not seen in over a year and a half, while long-term interest rates reached their highest level in 27 years [2][5] Stock Market Outlook - Analysts predict that if the ruling Liberal Democratic Party (LDP) wins the upcoming election, the Nikkei average could stabilize between 50,000 and 55,000 points, with potential for further growth to 60,000 points in the next fiscal year [3][4] - Historical trends indicate that the Japanese stock market tends to rise before elections, with the Nikkei average showing consistent gains in the lead-up to voting days from 1963 to 2021 [4] Currency and Bond Market Insights - The yen is expected to weaken further, with forecasts suggesting it could reach 150 to 160 yen per dollar, prompting concerns about potential currency intervention by the government if it approaches 160 yen [3][6] - Long-term interest rates are anticipated to rise by 0.1% to 0.2% if the House of Representatives is dissolved and elections are called, potentially reaching 2.5% if new economic measures are introduced [3][6] Economic Policy Expectations - The market is optimistic about the ruling party's ability to implement fiscal expansion policies, which could lead to further economic stimulus measures [4][5] - Key sectors such as shipbuilding and artificial intelligence are identified as priority investment areas, with companies like Mitsubishi Heavy Industries seeing stock price increases [4]

Group 1 - The core theme of the article revolves around a unique diplomatic event termed "drum diplomacy" between Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk-yeol, where they performed together on drums [2][4] - The performance included popular songs such as BTS's "Dynamite" and a track from the animated film "K-POP: The Witch's Diary," showcasing cultural exchange through music [2][4] - Kishida, who was a drummer in a heavy metal band during university, prepared this surprise for Yoon, who expressed a lifelong dream of playing the drums [4]

编者荐语： 日经Gaming是2025年7月创刊的"以商业视点出发的游戏媒体"。日经BP利用在经营、技术、消费、营销 各领域培养的采访力、信息发布力，从商业角度出发，发布游戏及其周边产业的最新动向、商业模式。 以下文章来源于日经Gaming ，作者平野亚矢 日经Gaming . 商业视角的日本游戏媒体。日经BP旗下。 2022年，沙特公布了游戏产业运营方针《国家游戏与电竞战略》（NGES），并公布了投资额约380亿 美元的《Savvy Games Group战略》。同时成立了执行企业Savvy Games Group，由王储亲自担任董事会 主席。 2023年，沙特进一步设立了负责运营"电竞世界杯"（EWC）的非营利机构"电竞世界杯基金会"。在成功 举办2024年与2025年两届赛事后，计划于2026年推出全新的国家对抗赛事"电竞国家杯"（ENC）。 为何沙特阿拉伯如此全力投入游戏与电竞？将游戏与电竞选作后石油时代的支柱产业之一，背后是怎样 的考量？我们向费萨尔·本·班达尔 王子（亲王）求证 。 阅读更多内容请点击下方"阅读原文" （本文由日经BP提供） 本文为 日经Gaming EWC观战记 系列第五篇 欢迎 ...

Core Viewpoint - The pressure from the Trump administration on Federal Reserve Chairman Jerome Powell is evolving into an unusual situation involving judicial authorities, threatening the independence of the Federal Reserve and potentially leading to market instability [2][10]. Group 1: Historical Context - The U.S. has experienced seven financial crises after losing its central bank in 1837, which led to a significant economic downturn with 40% of banks forced to close [6]. - Historical precedents show that political interference in monetary policy has led to major failures, including the financial panic of the 19th century and the inflation crisis of the 20th century [12]. Group 2: Current Economic Indicators - The Federal Reserve's money supply (M2) has reached $22 trillion, surpassing levels seen during the COVID-19 crisis, indicating an overheated market [7]. - The S&P 500's expected price-to-earnings ratio (PER) is at 22 times, comparable to the peak of the internet bubble in 2000, suggesting potential market volatility if investment funds reverse [7]. Group 3: Risks in Currency and Debt Markets - The U.S. national debt has reached nearly $40 trillion, a historical high, with significant leverage in the treasury market posing risks of a sharp decline if the Federal Reserve fails in market regulation [7]. - Concerns are rising over the outflow of investors from the U.S. dollar, particularly influenced by the interest rate differential between the U.S. and Japan, which could lead to significant currency fluctuations [9]. Group 4: Future Leadership of the Federal Reserve - Trump has indicated that the next Federal Reserve Chairman must implement immediate interest rate cuts, raising concerns about the independence of monetary policy under political pressure [10]. - The potential nomination of Hassett, a long-time Trump advisor, as the next Fed Chair could further compromise the Fed's operational independence, reminiscent of past political pressures on the central bank [12].

Group 1 - The core viewpoint of the articles emphasizes the strategic importance of Japan-South Korea relations in the context of changing international dynamics and the need to maintain strong alliances, particularly with the United States [2][4][6] - Japan's Prime Minister, Fumio Kishida, and South Korea's President, Lee Jae-myung, reached a consensus on the strategic significance of their bilateral relationship, highlighting the necessity for continued diplomatic engagement [4][5] - The discussions included cooperation on economic security, scientific technology, and supply chain collaboration, as well as addressing common social issues such as aging populations [5][6] Group 2 - The articles indicate a growing concern regarding the security environment surrounding Japan and South Korea, particularly due to North Korea's ongoing nuclear development and military cooperation with Russia, as well as China's increasing military activities in the Pacific [6][7] - Both countries have avoided explicitly criticizing the United States' actions, such as its military engagement in Venezuela, instead emphasizing the importance of returning to democratic principles while prioritizing their alliance with the U.S. [6][7] - There is a noted lack of significant disagreement between Japan and South Korea regarding China, despite rising tensions, suggesting a unified front in their diplomatic approach [7]