Group 1 - The EU and India reached a compromise on a Free Trade Agreement (FTA) on January 27, which will significantly lower tariffs on various products and activate trade between the two regions [2][5][9] - The FTA will include a quota framework for EU car imports to India, allowing 250,000 vehicles annually, with tariffs on cars being reduced from 110% to 10% over time, and tariffs on auto parts to be eliminated in 5 to 10 years [2][9] - The agreement is expected to enhance cooperation, with the EU aiming to attract high-skilled Indian talent and establish a new security and defense partnership [10] Group 2 - The combined population and economic scale of the EU and India account for over 20% of the global total, surpassing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) [4][5] - The negotiations for the FTA took nearly 20 years, with the presence of former US President Trump and his high tariffs being a significant factor in bringing the EU and India closer together [9] - The EU's trade with India currently represents about 2.5% of its total goods trade, indicating substantial growth potential compared to nearly 15% with China [9]

Core Viewpoint - The article discusses the recent appreciation of the Japanese yen against the US dollar, driven by various factors including US political statements and market reactions to currency fluctuations [2][4][6]. Group 1: Currency Movements - On January 27, the yen appreciated to the range of 152.0 to 152.5 yen per dollar, marking a significant rise as the US dollar index fell to its lowest level in about four years [2][4]. - Following comments from US President Trump expressing no concern over the dollar's depreciation, the yen further strengthened, reaching approximately 152.10 yen per dollar in the New York market [6][8]. - The dollar also weakened against other currencies, with the euro rising to about 1.1972 dollars, the lowest since June 2021, and the Swiss franc reaching 0.76 francs per dollar, the highest since 2015 [6][7]. Group 2: Investor Sentiment and Strategies - Global investors are increasingly hedging against the risk of dollar depreciation, with a survey by Bank of America indicating a preference for long positions in gold and large tech stocks, alongside short positions in the dollar [10]. - Australian pension funds are also increasing their foreign exchange hedging against dollar assets, anticipating a weaker dollar due to expected interest rate cuts in the US [10]. Group 3: Market Concerns - Analysts express concerns regarding the potential reversal of "yen carry trades," where investors borrow in low-yielding yen to invest in higher-yielding dollar assets, which could lead to increased market volatility [11][12]. - There is a belief among some market participants that the US government may intentionally induce dollar depreciation, which could have broader implications for the financial markets [11][12].

Core Viewpoint - Toyota is committed to maintaining the total number of internal combustion engines until 2030, despite the shift towards electric vehicles (EVs) [2][8]. Group 1: Internal Combustion Engine Strategy - Toyota's President Akio Toyoda emphasized the importance of internal combustion engines, stating that they still have a role to play in the automotive industry [6][8]. - The company held a "combustion engine pledge conference" in June 2025, where it announced plans to develop various high-power engines [8]. - The upcoming "GR GT" supercar, set to launch around 2027, will feature a 4-liter V8 engine, marking a shift as it is developed independently by Toyota rather than in collaboration with Yamaha [4][6]. Group 2: Hybrid Vehicle Investment - Toyota plans to invest up to $10 billion in the U.S. over the next five years to increase production of hybrid vehicles and their components [8][10]. - The hybrid vehicle "Prius" will now incorporate larger engines, reflecting a strategic response to stringent environmental regulations [4][6]. - In the U.S., hybrid vehicles accounted for approximately 13% of new car sales from July to September 2025, leading Toyota to increase local production of core components [10]. Group 3: Electric Vehicle Development in China - Toyota is shifting its strategy in China, focusing on developing models specifically for the Chinese market rather than global models [12][14]. - The company plans to launch the EV sedan "bZ7" in spring 2026, following the successful introduction of the electric SUV "bZ3X" [14]. - Toyota's sales in China have been declining, with projections of 1.77 million units sold in 2024, indicating a need for a more localized approach [11][14]. Group 4: Research and Development Costs - Toyota's R&D expenses for the fiscal year 2024 are projected to be 1.3 trillion yen, which may lead to challenges in keeping pace with emerging competitors like BYD and Tesla [16]. - The company is also collaborating with NTT on AI and communication infrastructure to enhance safety and with Waymo for advancements in autonomous driving [16].

Core Viewpoint - The article discusses the significant decline in the number of tourists from mainland China to Osaka, which has decreased by 45% as of December 2025, highlighting the impact on the local economy and tourism industry [2]. Group 1 - The number of mainland Chinese tourists visiting Osaka has dropped from previous years, indicating a major shift in travel patterns [2]. - This decline is attributed to various factors, including changes in travel regulations and economic conditions in China [2]. - The tourism industry in Osaka is facing challenges due to this reduction, which could affect local businesses reliant on tourist spending [2].

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 ，作者永井学 （本文由日经BP提供） 阅读更多内容请点击下方"阅读原文" 日经Gaming . 商业视角的日本游戏媒体。日经BP旗下。 《Gaming DATA》是汇总、分析日本游戏市场相关数据的专栏。 根据调查公司Sensor Tower的数据，日经Gaming汇总出了 2025年全年（2025年1月1日至12月31日）日本 及全球游戏应用收入排行榜 （截至2026年1月19日查询）。 ...

Group 1 - Nissan's South African plant has an annual production capacity of 45,000 vehicles, but its operating rate has been consistently low. The company plans to sell the plant to China's Chery Automobile as part of a global restructuring plan that includes the reduction of seven factories worldwide [2][4]. - The agreement for the sale of the factory was reached on January 23, with the transaction expected to include land, buildings, and nearby stamping equipment, although the transaction amount has not been disclosed. Nissan will continue to conduct automotive sales and other business in South Africa after the sale [4]. - As part of its restructuring plan announced in May 2025, Nissan will cease vehicle production at its main plant in Japan and will also reduce operations at two factories in Mexico, as well as factories in Argentina and India, totaling five factories affected by this plan [5]. Group 2 - Chery Automobile, established in 1997 as a government-affiliated enterprise in Wuhu, Anhui Province, has been expanding its international presence since 2001. The company began mass production at its first overseas plant in Brazil in 2014 and has factories in Spain, which was previously a commercial vehicle plant owned by Nissan [5]. - Chery Group aims to achieve global sales of 2,806,393 vehicles by 2025, representing an 8% increase compared to 2024 [6].

日本百货商场25年12月对中国人销售额减4成 原创 阅读全文 日经GO ...

Core Viewpoint - The last two giant pandas in Japan, "Xiaoxiao" and "Leilei," will be returned to China in late January, marking the first time in nearly half a century that Japan will have no giant pandas, which have been a symbol of Sino-Japanese friendship since the 1970s [2][6]. Group 1: Panda Diplomacy History - The first giant pandas used for diplomacy by China were gifted to the United States in 1941 by Soong Mei-ling, the wife of Chiang Kai-shek, to garner support during the Second Sino-Japanese War [4]. - After the establishment of the People's Republic of China in 1949, the practice of "panda diplomacy" continued, with pandas being sent to various countries as symbols of goodwill [5]. - The first pair of pandas sent to Japan, "Kangkang" and "Lanlan," arrived in 1972 as a gesture to commemorate the normalization of diplomatic relations between China and Japan [6]. Group 2: Current Panda Situation in Japan - The two pandas, "Xiaoxiao" and "Leilei," were born in 2021 and are the offspring of pandas rented from China [7]. - Japan has sought to continue renting pandas from China, but the prospects remain uncertain due to the current state of Sino-Japanese relations [10][12]. - The last pandas in Japan will be returned to China, and there are no current plans for new pandas to be sent back to Japan, reflecting the strained diplomatic ties [10][12]. Group 3: Comparison with Other Countries - In contrast to Japan, China has recently signed an agreement with France to extend panda cooperation, indicating a more favorable diplomatic relationship [14]. - The situation with France includes plans to rent new pandas after returning the current ones, showcasing a different approach to panda diplomacy compared to Japan [14].

Core Viewpoint - The approval rating of Prime Minister Sanna Takashi is significantly higher than that of the Liberal Democratic Party (LDP), indicating a disconnect between the popularity of the Prime Minister and the party's support [2][6]. Group 1: Approval Ratings and Election Context - In January, Takashi's cabinet approval rating was 67%, while the LDP's support was only 42% [2][5]. - Compared to previous elections, the LDP's support rate has not capitalized on Takashi's popularity; for instance, in the last election before the 2024 House of Representatives election, the approval rating for the Ishiba cabinet was 51% with an LDP support rate of 41% [2][4]. - The proportion of voters considering the LDP as their voting option remains stagnant at 40% for both the upcoming election and the previous one [4]. Group 2: Voter Sentiment and Party Dynamics - Despite high approval ratings for Takashi, LDP support has remained around 40%, suggesting that voters appreciate the Prime Minister but do not support the LDP [6][7]. - In the upcoming election, voters who support Takashi's cabinet may split their votes among other parties, such as the Democratic Party for the People and other parties [6][7]. - The newly formed "Center Reform Coalition" has low expectations, with only 24% of respondents expressing hope for it, compared to 68% who do not [7][8]. Group 3: Coalition and Support Base - The support rate for the Center Reform Coalition is only 8%, and even when combining support for the Constitutional Democratic Party and Komeito, the total is just 11%, indicating a significant gap with the LDP [8]. - The coalition struggles to attract younger voters, with only 2% support among those aged 18-39, while the LDP enjoys 40% support in the same demographic [8]. - The coalition relies heavily on organizational votes, with 90% of its supporters indicating they will vote for the party, but it faces risks due to its dependence on these organized groups [8].

Group 1 - The core viewpoint of the article is that the Japanese yen is expected to enter a period of appreciation starting in 2025, following a historical pattern known as the "5-year cycle theory," which suggests that the yen's trends alternate approximately every 4 to 5 years [2][5][7]. - The yen's exchange rate against the US dollar recently showed signs of recovery, reaching the 153 yen per dollar range, marking a significant change from the previous trend of approaching 160 yen per dollar [2][4]. - There are mixed opinions in the market regarding the future of the yen, with some analysts suggesting that the yen has been excessively sold off, while others remain cautious about the potential for appreciation due to prevailing bearish sentiments [4][7]. Group 2 - Analysts from Citigroup and other institutions maintain a bullish outlook on the yen, predicting that it could strengthen to around 145 yen per dollar in the first half of 2026 and potentially reach 140 yen per dollar later that year [7][8]. - The anticipated restart of nuclear power in Japan is seen as a potential factor for yen appreciation, as it could reduce energy imports and improve trade balances, thereby alleviating selling pressure on the yen [9][11]. - The upcoming House of Representatives election in Japan is viewed as a critical juncture for the yen's exchange rate, with the outcome potentially influencing the direction of monetary policy and economic growth [11].