Group 1 - The article discusses the intersection of esports and carbonated beverages, highlighting a seminar hosted by Asahi Beverage on the impact of strong carbonated water on esports players' performance [3][5]. - Asahi Beverage, a subsidiary of Asahi Group Holdings, is exploring new drinking scenarios for esports, emphasizing its strong carbonated drink "Wilkinson Carbonated Water" [7]. - The company is also involved in promoting its energy carbonated drink brand "Dodekamin," which collaborated with Capcom's "Mega Man" series in 2023, allowing consumers to engage with original games through a QR code on the product [7]. Group 2 - The article notes that traditional energy drinks like "Red Bull" and "Monster" have established a dominant position in the esports beverage category, prompting the exploration of alternative beverages [5]. - Asahi Beverage is responsible for the distribution of "Monster Energy Drink" in Japan, indicating its significant role in the gaming-related beverage market [7]. - The seminar presented a unique perspective on how carbonated water could enhance the gaming experience, suggesting a shift in consumer preferences within the esports community [5][3].

Group 1 - Toyota's sales in the U.S. market for large SUVs, particularly the "Grand Highlander," have shown a significant increase, with a year-on-year growth of 8% [2][4] - Among six Japanese automakers, Toyota, Honda, and Nissan achieved positive growth in 2025, with Toyota's sales reaching 2,518,071 units, marking a substantial lead over competitors [4] - The overall sales of electric vehicles (EVs), including hybrid vehicles (HV), increased by 17.6%, accounting for 47% of Toyota's total sales [4] Group 2 - The sales rebound of the "Grand Highlander" and "TX" models, which had previously been affected by recalls, contributed to Toyota's growth [4] - Lexus, Toyota's luxury brand, also saw a sales increase of 7.1%, reaching a record high of 370,260 units, driven by models like the TX [4] - In contrast, other Japanese automakers faced challenges in the U.S. market, with Honda's sales only increasing by 0.5% to 1,430,577 units due to semiconductor supply shortages impacting production [5]

Core Viewpoint - The S&P 500 index experienced a 16% increase in 2025, marking three consecutive years of double-digit growth, with a cumulative return of 78% from 2023 to 2025. Historical data suggests a high likelihood of significant volatility (over 10% up or down) in 2026 following such performance [2][4]. Group 1: Historical Context and Predictions - In the past century, there have been nine instances of the S&P 500 achieving three consecutive years of double-digit growth, with seven of those instances resulting in over 10% volatility in the following year [4]. - The most recent similar occurrence was from 2019 to 2021, which was followed by a 19% decline in 2022 due to aggressive interest rate hikes by the Federal Reserve in response to inflation [4]. - The absence of major events like midterm elections in 2026 shifts focus to the upcoming nomination of the next Federal Reserve chair, with current chair Jerome Powell's term ending in May [4]. Group 2: Potential Candidates for Federal Reserve Chair - Kevin Hassett, the Director of the National Economic Council, has a 40% chance of being nominated, seen as aligned with Trump's monetary policy intentions, which may lead to expectations of significant interest rate cuts [5]. - Other potential candidates include Kevin Warsh and Christopher Waller, both categorized as "doves" compared to Powell [5][6]. Group 3: Monetary Policy Scenarios - The core scenario anticipates a reduction of the policy interest rate to between 3.0% and 3.25%, with expectations of two rate cuts in 2026 [6]. - A bullish scenario suggests that a dovish new Fed chair could lower rates below 3%, potentially driving economic growth and stock market gains [8]. - Conversely, a bearish scenario posits that the Fed may need to raise rates again by the end of 2026 due to accelerating inflation and currency depreciation, despite a dovish chair [8]. Group 4: Market Projections - Under the core scenario, the S&P 500 index is projected to reach 7,750 points by the end of 2026, a 10% increase from 6,845 points at the end of 2025 [8]. - In a bullish scenario, the index could rise by 30% to 9,000 points, while in a bearish scenario, it could fall by 30% to 5,000 points [8].

Group 1 - The Nikkei average index reached a new high of 52,518.08 points on January 6, marking a 1.32% increase from the previous day, with a rise of 685.28 points [2][4] - Hitachi's stock surged by 7.30%, reaching 5,438 yen, the highest in about two months, driven by a report from Goldman Sachs on January 5 regarding the industrial electronics sector [2][4] - The report highlighted three favorable aspects for Hitachi: infrastructure development for artificial intelligence (AI), AI-related services, and productivity improvements based on AI [4] Group 2 - The Nikkei index experienced a significant rise, with an increase of 690 points to 52,523 points, surpassing the previous historical high of 52,411 points set on October 31, 2025 [4] - The Tokyo Stock Exchange's TOPIX index also broke the 3,500-point barrier, continuously setting new records [4] - Goldman Sachs raised Hitachi's target stock price for the next 12 months to 6,000 yen, an increase of 100 yen from the previous target [4]

伊势丹新宿总店（2025年12月，东京都新宿区） 三越伊势丹控股等日本四大百货公司2025年12月免税销售额均相较于上年同月出现下降。从面向中国游 客的销售额来看，高岛屋下降35%，阪急阪神百货店下降4成…… 三越伊势丹控股等日本四大百货公司1月5日发布的2025年12月免税销售额（速报值）显示，四家公司均 相较于上年同月出现下降。这受到了中国11月中旬呼吁国民谨慎赴日的影响。上周末开启的新年首轮促 销活动也受到免税销售额减少的影响，有两家公司收入比上年同期减少。 免税销售额方面，三越伊势丹（东京圈现有门店）下降15.8%，高岛屋下降11.1%，J.Front Retailing旗下 的大丸松坂屋百货店下降16.6%，H2O Retailing旗下的阪急阪神百货店下降2成。从面向中国游客的销售 额来看，高岛屋下降35%，阪急阪神百货店下降4成。 新年首轮促销也受到影响，三家百货公司中，高岛屋销售额同比下降0.7%，大丸松坂屋下降5.3%。从 高岛屋来看，日本国内销售额增长3%，表现向好，而免税销售额却下跌28%，跌幅明显。三越伊势丹 的销售额超过上年。 三越伊势丹表示，2025年12月的免税销售额排在全年第二 ...

Group 1 - The core viewpoint of the article highlights the tightening supply and demand for silver and platinum, with prices experiencing significant volatility due to geopolitical risks and market adjustments [2][4][7] - On January 5, platinum prices rose by 6.7% to $2,279.8 per ounce, while silver prices increased by 7% to $76.05 per ounce, driven by a surge in safe-haven buying amid global uncertainties [4][5] - The Chicago Mercantile Exchange (CME) raised margin requirements for precious metals futures multiple times, which initially suppressed speculative buying but led to increased volatility in prices [4][5][7] Group 2 - Despite the margin increases, speculative momentum remained strong, with platinum and silver prices reaching historical highs on December 29, prompting further margin hikes from CME [5] - Following the margin adjustments, prices sharply declined on December 31, with platinum dropping 14.5% to $1,927.4 per ounce and silver falling 11.1% to $69.255 per ounce, impacting gold prices as well [5][6] - The frequent margin increases by CME are unusual, and while silver and platinum prices are linked to gold, their smaller market size means that minor capital movements can lead to significant price fluctuations [7]

Group 1 - The core viewpoint of the article emphasizes the historical cooperation between China and South Korea in resisting Japanese militarism, with both leaders calling for strengthened collaboration in current geopolitical contexts [2][4]. - Xi Jinping highlighted the importance of safeguarding the outcomes of World War II and maintaining peace and stability in Northeast Asia, urging South Korea to enhance cooperation in its policies towards Japan [4]. - Lee Jae-myung expressed gratitude for China's protection of historical sites related to Korea's independence movement, indicating a willingness to repair relations with China while balancing ties with Japan [5]. Group 2 - The meeting between Xi Jinping and Lee Jae-myung marks Lee's first visit to China since taking office in June 2025, and it is the first visit by a South Korean president to China in nearly six years [5]. - The article notes that the relationship between China and South Korea had cooled due to South Korea's agreement to deploy the THAAD missile defense system in 2016, but there is now a renewed interest in improving bilateral relations [4][5]. - Lee Jae-myung's approach to foreign policy is characterized as "pragmatic diplomacy," aiming to build good relations with various countries while maintaining balance [5].

编者荐语： 插电式混合动力SUV"SEALION 6"已于2025年12月1日在日本上市。备有前轮驱动（FWD）和四轮 驱动（4WD）两种版本，前轮驱动版搭载1.5L升排量自然吸气（NA）汽油发动机，四轮驱动版配备 1.5L排量涡轮增压发动机。两款车型均配备容量为18.3千瓦时的磷酸铁（LFP）锂电池，前轮驱动版的 纯电续航里程达到100公里。 售价方面，前轮驱动版为398.2万日元（约合人民币18.1万元），四轮驱动版为448.8万日元（约合 人民币20.4万元）。其竞争车型是三菱汽车的"欧蓝德PHEV（Outlander PHEV）"，价格为529.43万日元 （约合人民币24.1万元）起，SEALION 6比其便宜20%以上，定价具有很高的竞争力…… 阅读更多内容请点击下方"阅读原文" （本文由日经BP提供） 比亚迪的PHEV"SEALION 6"。这是首次引入日本的PHEV （图片来源：日经Automotive） 日经BP . 日经BP成立于1969年4月, 隶属于日本经济新闻社集团。作为日本领先的B2B媒体公司，我们聚焦"经营 管理"、"专业技术"及"生活时尚"三大主要领域，满足客户多元化的需求。 ...

日本大型证券公司的一把手当中接连有声音预测称日股将继续上涨。日企的良好业绩、活跃并购以及公 司治理改革被寄予厚望。日本交易所集团CEO强调："日本经济、日本企业正以前所未有的程度受到投 资者的关注"…… 1月5日是2026年首个股票交易日，日本大型证券公司的一把手当中接连有声音预测称股市将继续上涨。 大和证券集团总部的荻野明彦社长针对年底的日经平均股价指数预测称，将比1月5日的收盘价上涨两 成，达到62000点。日本企业的良好业绩、活跃并购以及公司治理改革被寄予厚望。 各家证券公司的一把手在日本证券业协会等举办的新年会议上回答了记者的提问。大和证券的荻野社长 表示，2026年股市上涨的原因在于企业业绩提升。同时称："我们希望通过支持企业提高资本效率，助 力日本经济迈入强劲增长阶段"。 野村控股公司社长奥田健太郎就日本在2025年创下历史新高的并购项目数量指出，"这一趋势可能会持 续"。同时明确表示："尤其是吸引过来的海外投资者（对日本股票）的需求，不会发生明显变化"。 SMBC日兴证券社长吉冈秀二表示："机械、防卫相关、药品等可通过人工智能（AI）提升生产效率的 领域值得期待"。 日本交易所集团（JPX）首席 ...

Core Viewpoint - SoftBank Group's Vision Fund has shown strong performance, with total investments reaching $163.2 billion (approximately 25.3 trillion yen) and pre-tax investment returns of about 3.7 trillion yen as of September 30 [2][6]. Group 1: Fund Performance - The Vision Fund's investment returns have rebounded to nearly 3 trillion yen in the July-September quarter, marking a recovery after years of challenges, including the bankruptcy of WeWork [3][4]. - The first Vision Fund has generated a profit of $32.8 billion despite significant losses from WeWork, while the second fund, which started investing in 2019, has faced difficulties with a current loss of $9.1 billion on investments totaling $73.7 billion [7][8]. Group 2: Key Investments - Coupang, a South Korean e-commerce giant, has been the most profitable investment for SoftBank, with a return of 5.7 times the initial investment, reaching a value of $15.6 billion [6][7]. - DoorDash, a U.S. food delivery platform, generated $7.2 billion in profit, with an investment return of 11.7 times, and all shares have been sold [7]. - The second fund's most profitable investments include Beike, Symbotic, and Swiggy, with returns of $1.1 billion, $800 million, and $300 million respectively [7]. Group 3: Future Outlook - The second fund's underperformance is attributed to high entry prices for unlisted stocks, but upcoming IPOs, including Chime and Klarna, are expected to improve performance [8]. - SoftBank's CFO expressed confidence in future IPOs and the potential for recovery in the second fund's performance [8]. - The company plans to invest an additional $22.5 billion in OpenAI, bringing the total investment to $34.7 billion, aligning with the "ALL IN AI" strategy [12].