软银集团（SBG）2月12日发布的2025年4～12月合并财报（国际会计准则）显示，净利润增至上年同期 的5倍，达到3.1726万亿日元。作为同期的数据，创下历史最高纪录。软银集团投资对象的美国OpenAI 的估值上升推高了利润。 同期财报计入了向OpenAI出资带来的2.7965万亿日元投资收益。愿景基金业务出资的滴滴出行的股价也 有所上涨…… 同期财报计入了向OpenAI出资带来的2.7965万亿日元投资收益。截至12月完成出资，软银集团累计向 OpenAI投资347亿美元，成为出资比例达到约为11%的大股东。 投资人工智能（AI）相关企业的软银的愿景基金业务的投资收益为3.9111万亿日元。OpenAI的估值上升 做出了贡献。此外，韩国最大的电商企业Coupang和中国最大网约车平台滴滴出行的股价也有所上涨。 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 营业收入比上年同期增 长8%，达到5.7192万亿日元。日本国内通信子公司软银的销售稳步增长。 按季度来看，10～12月的最终损益为盈利4131亿日元，与上年同期相比扭 ...

Core Viewpoint - The article discusses the increasing importance of previously undervalued minerals in the military sector, highlighting the competition between the U.S. and China for mineral dominance, particularly in the context of AI and electric vehicles [2][4]. Group 1: Mineral Importance and Market Dynamics - Historically overlooked minerals are now critical in military applications, prompting the U.S. to strive for a return to mineral dominance previously held by China [2]. - China's monopoly on rare earth elements and other minerals is projected to remain largely unchanged, according to the International Energy Agency [8]. Group 2: Historical Context and Strategic Moves - The shift in focus towards minerals began with Deng Xiaoping's recognition of China's rare earth potential in the 1990s, leading to China's dominance in the market due to lower environmental costs compared to other countries [4][5]. - The U.S. has taken strategic actions, such as signing mining agreements with the Democratic Republic of Congo, to secure essential minerals like cobalt, which are crucial for defense and technology [6]. Group 3: Future Demand and Supply Chain Challenges - The demand for minerals is expected to surge, with projections indicating that copper demand could increase sixfold by 2050 due to rising electricity needs [5]. - The U.S. faces significant challenges in catching up to China's production capabilities, as evidenced by the low output of U.S. companies compared to their Chinese counterparts [8]. Group 4: Japan's Strategic Response - Japan is advised to build a national reserve of minerals to ensure supply security, as current reserves are insufficient for long-term needs [9]. - The rising costs associated with deep-sea mining projects in Japan highlight the challenges the country faces in securing its mineral resources [9].

Core Viewpoint - The price of gold has been rising sharply, indicating a decline in the international status of the US dollar. The future trajectory of gold prices remains unpredictable as the international monetary landscape undergoes significant changes [5][6]. Group 1: Gold Price Dynamics - Each significant surge in gold prices corresponds with a decline in the US dollar's international standing, suggesting a deep-rooted transformation in the market [6]. - Following a brief correction at the beginning of the year, gold prices have entered a new upward trend, with predictions that the important psychological level of $5000 per ounce may soon be breached [6]. - Despite the ongoing bullish trend in the gold market, there has not been a corresponding increase in gold consumption, indicating a disconnection between price movements and market fundamentals [6].

法院当天指出，安世半导体的经营"存在涉及利益冲突的过失行为迹象"。 美国政府在2024年底将闻泰科技列入出口管制"实体清单"。安世半导体也被列入清单的可能性升高，法 院认为："（张学政）在制裁威胁下，未与其他董事协商，便擅自改变了战略"。 法院的调查预计将持续数月。由于张学政停职，该公司首席财务官（CFO）Stefan Tilger出任安世半导 体临时CEO。根据新管理层的决定，从生产半导体原料晶圆的欧洲工厂向负责最终工序的中国工厂的出 货已暂停。 日本经济新闻（中文版：日经中文网）林英树 法兰克福报道 安世半导体荷兰总部（Reuters） 美国政府在2024年底将闻泰科技列入出口管制"实体清单"。安世半导体也被列入清单的可能性升高，法 院认为："（张学政）在制裁威胁下，未与其他董事协商，便擅自改变了战略"…… 荷兰商事法院2月11日表示，对总部位于荷兰、中资背景的半导体厂商安世半导体（Nexperia）启 动不当经营调查。法院表示"有正当理由对公司的健康运营感到担忧"，并决定继续执行2025年10 月法院下达的对该公司首席执行官张学政的职务暂停措施。 安世半导体于2020年被中国电子设备大型企业闻泰科技收购 ...

日经GO 中国至日本福冈航班春节前减半 原创 阅读全文 ...

Group 1 - The Nikkei average index continued its upward trend on February 12, rising by around 200 points to reach 57,850, maintaining a level above the historical high set on February 10 [2] - The index briefly exceeded 58,000 points for the first time, but profit-taking due to short-term market overheating suppressed further gains [2] - The semiconductor sector, particularly stocks like Micron Technology, saw increased buying interest in the U.S. market, contributing positively to the Nikkei index [4] Group 2 - The U.S. labor department reported a significant increase in non-farm employment by 130,000 in January, far exceeding market expectations of 55,000, indicating a robust labor market that supports investor confidence [4] - The ratio of rising stocks to falling stocks in the Nikkei index was 141% as of February 10, surpassing the "overbought" threshold of 120%, which led to profit-taking actions [4] - The Tokyo Stock Exchange Price Index (TOPIX) also maintained an upward trend, remaining above its highest point of 3,855.28 set on February 10, although profit-taking led to some downward movement [4]

在外汇市场上，美元再度遭到抛售。11日，美元对日元创下两周来的最大贬值水平，对日元以外的多种 货币呈现出贬值态势。原因是市场对美国经济前景挥之不去的警惕情绪。不过，市场上有观点认为，日 元贬值与美元贬值的拉锯局面短期内或持续…… 在2月11日的亚洲外汇市场上，日元对美元汇率一度升至1美元兑152.5~152.9日元区间，创下1月29日以 后约两周来的最大日元升值、美元贬值水平。 美元也对日元以外的多种货币呈现出贬值态势。对欧元和瑞士法郎汇率方面，2月10日美元贬值到两周 以来的低位。反映美元综合价值的美元指数也下降至96区间。这是市场普遍猜测美国有关部门实施了属 于外汇干预准备阶段的汇率检查、美元遭到抛售的1月下旬以来的低位。 不过，日本时间2月11日公布的1月美国就业统计数据显示，非农就业人数意外改善，美元对日元一度反 弹至1美元兑154.5~154.9日元区间。由于日本当天为节假日，国内交易主体较少，导致汇率波动幅度扩 大。 另一方面，市场上认为在高市政府的政策背景下日元将持续贬值的观点依然根深蒂固。日元贬值与美元 贬值的拉锯局面短期内或持续。多数预测认为，汇率将在美国当局进行汇率检查的159日元区间到此 ...

突出的扩张倾向 奥村茂三郎："最想推进的政策是负责任的积极财政"，在自民党获得历史性大胜之后，高市明确表态。 由于过去的财政纪律松弛，日本政府债务在G7中表现最差。此次的整个选战中，高市一直攻击此前的 财政运营"过度追求紧缩"…… 奥村茂三郎： "最想推进的政策是负责任的积极财政"，在日本自民党获得众议院选举历史性大胜的2月 8日晚间，日本首相高市早苗针对"可能引发国内舆论陷入分裂的大胆政策"做出了明确表态。鉴于日本 长期利率上升和日元贬值加剧等市场信号，高市早苗如今需要承担更为沉重的说明责任。 高市在此次的整个选战中，一直攻击此前的财政运营是"过度的追求紧缩"。市场上有声音对这一看法表 示担忧。 在通胀下，作为增加实际收入的对策，有呼声要求减税可以理解。不过，由50名经济学家组成 的"Economics Panel"中，认为"对日本经济负面影响大"的观点高达88%。为避免陷入"减税民粹主义"， 期待日本朝野各党进行深入讨论。 应避免危机 日本的财政曾长期处于扩张状态。国际货币基金组织（IMF）的数据显示，由于过去的财政纪律松弛， 2025年日本政府债务余额占GDP（国内生产总值）的比例达到229%。在其他七 ...

志位和夫自1993年起当选众议院议员，共任职11届，历任日本共产党党书记局长、委员长。 他批评安 倍政权"破坏了宪法这一国家根基"，高市早苗"分不清什么话该说、什么话不该说"…… 借此次众议院选举之机结束了议员生涯的日本共产党议长志位和夫接受了日本经济新闻（中文版：日经 中文网）等媒体的采访。他回顾从首次当选到现在33年的议员生涯，表示"政治失去了活力，不断劣 化"。他批评了允许部分行使集体自卫权的安保法案等自民党政治。 志位和夫自1993年起当选众议院议员，共任职11届，历任党书记局长、委员长。 志位和夫说："我与17位首相进行过论战。印象最深刻的是前首相桥本龙太郎。他不推诿给官僚，正面 回答问题，讨论非常深入"。他回忆道："即使立场截然相反，也让人感到爽快，论战结束后我们还握了 手"。 关于前首相小泉纯一郎，他评价称"2002年的《日朝平壤宣言》是日本战后外交史上的金字塔"。谈及与 宣言相关的日本共产党建议，他表示"（小泉政权）有认真听取意见的态度"。 对于制定安保法规的安倍晋三政权，他批判道："破坏了宪法这一国家根基，导致整个政治急剧劣化"。 志位和夫 针对日本首相高市早苗的对华外交姿态，志位和夫表示： ...

Group 1 - The Japanese government's national borrowing, including government bonds, loans, and short-term securities, is projected to reach 134.2172 trillion yen by the end of December 2025, an increase of 2.45355 trillion yen from the end of December 2024, marking a historical high [3] - The balance of ordinary government bonds that need to be repaid through tax revenue is 109.44874 trillion yen, which is an increase of 2.34827 trillion yen compared to the end of December 2024 [5] - The government plans to issue an additional 2.9584 trillion yen in new bonds for the fiscal year 2026, exceeding the initial 2.86471 trillion yen planned for fiscal year 2025 [6] Group 2 - Prime Minister Fumio Kishida's proposal to reduce the food consumption tax rate to zero within two years has raised market concerns, leading to an increase in long-term interest rates [6] - The Chief Cabinet Secretary Hirokazu Matsuno stated that stabilizing the reduction of the debt-to-GDP ratio will achieve fiscal sustainability and ensure market trust [6]