Core Insights - The article highlights a significant shift in China's export structure, moving away from reliance on the U.S. market, with a 6% overall export growth in the first nine months of the year, and notable increases in exports to ASEAN (15%) and Belt and Road countries (11%) [1][7]. Group 1: Trade Dynamics - The Canton Fair continues to thrive, with an increase in the number of participating buyers, reaching 310,000, an 8% growth compared to the previous year, and export contracts signed amounting to $25.65 billion, a 3% year-on-year increase [3][5]. - The fair reflects a changing landscape in Chinese exports, with more communication among buyers in languages other than English, indicating a diversification of trade partners [1][5]. Group 2: Regional Impact - There is a notable increase in foreign visitors to Guangzhou, with the number of tourists from Thailand and Malaysia significantly rising, doubling compared to the same period last year [6]. - The local economy is benefiting from the influx of foreign buyers, with new businesses opening in response to increased demand, particularly in the electronics market [6][7]. Group 3: Economic Shifts - China's total export value reached approximately $2.8 trillion in the first nine months, with a 6% year-on-year growth, while exports to the U.S. have decreased by 17% [7]. - The shift in export focus is evident as China seeks to establish a more balanced trade relationship, reducing dependency on the U.S. market [7].

Core Insights - The article discusses the release of "Death Stranding 2: Above the Abyss," a game developed by Kojima Productions and published by Sony Interactive Entertainment, highlighting its significance in the gaming industry and its connection to real-world events like the COVID-19 pandemic [3][5]. Group 1: Game Overview - "Death Stranding 2: Above the Abyss" is a direct sequel to the 2019 game "Death Stranding," which resonated with players due to its themes of connection during a time of isolation caused by the pandemic [5]. - The first installment has surpassed 20 million players by the end of March 2025, indicating its popularity and impact on the gaming community [5]. Group 2: Development Challenges - The development of "Death Stranding 2" faced significant challenges due to the COVID-19 pandemic, which forced the entire team to switch to remote work [7]. - Kojima expressed that this period was the greatest crisis in his nearly 40-year career in game development, reflecting the difficulties faced by the industry during the pandemic [7].

Group 1 - The article discusses Russia's response to Japan's "hostile policy" following the outbreak of the Russia-Ukraine conflict, which includes imposing indefinite entry bans on Japanese officials and academics [1][3]. - Initially, in May 2022, Russia banned 63 Japanese individuals, including then-Prime Minister Fumio Kishida and Foreign Minister Yoshimasa Hayashi, from entering the country [1][3]. - Recently, on November 11, 2022, Russia announced an additional entry ban on 30 more Japanese individuals, including academics and media personnel, as part of its ongoing sanctions [1][3].

Core Viewpoint - Sony Group has raised its consolidated net profit forecast for the fiscal year 2025 to 1.05 trillion yen, an increase of 80 billion yen from previous estimates, driven by the success of the "Demon Slayer" movie and the depreciation of the yen [2]. Group 1: Financial Performance - The expected operating revenue for fiscal year 2025 is 12 trillion yen, with operating profit projected at 1.43 trillion yen, both up by 300 billion yen and 100 billion yen respectively from prior forecasts [4]. - The profit forecast for the ongoing business, excluding the financial sector, is expected to decline by 2% year-on-year [2]. - The impact of U.S. tariff policies on operating profit has been reduced by 20 billion yen, now estimated at 50 billion yen [4]. Group 2: Business Segments - The semiconductor segment has seen the largest upward revision in operating profit, aided by yen depreciation and cost reductions [4]. - The gaming segment has the most significant increase in operating revenue, supported by strong sales of the PlayStation console, although operating profit remains unchanged due to asset impairment losses from sold software [5]. - The "Music" segment, including contributions from the "Demon Slayer" film, has positively impacted operating profit in both Japan and North America [4]. Group 3: Shareholder Returns - Sony announced a stock buyback program of up to 100 billion yen, representing 0.59% of the total issued shares (35 million shares), aimed at improving capital efficiency [4].

Core Points - The article highlights the success of two students, Yang Han and Chen Ruyue, who won the special prize at the East China regional final of the 19th National Japanese Speech Contest and will advance to the national finals in Tokyo in March 2026 [1][3]. Summary by Sections Event Overview - The East China regional final of the 19th National Japanese Speech Contest took place on November 8 at Zhejiang Gongshang University, with 29 students from 29 universities in Shanghai, Jiangsu, Zhejiang, and Jiangxi participating [1][5]. - The competition consisted of a 5-minute prepared speech on a chosen theme and a 3-minute impromptu speech, with scores based on pronunciation, grammar, content, and expression [1]. Participants' Themes - Both Yang Han and Chen Ruyue chose the theme "My Ideal Hometown" for their speeches [1]. - Yang Han shared a personal experience about regretting not expressing dissent during a group discussion, emphasizing that an ideal hometown is a city free from such constraints [1][3]. - Chen Ruyue described her ideal hometown as a "city that embraces failure," reflecting on her journey from perfectionism to valuing experiences gained from failure [3]. Personal Reflections - Yang Han expressed confidence in the rewards of hard work and acknowledged her progress through continuous practice [3]. - Chen Ruyue emphasized the importance of accurately expressing one's thoughts over using elaborate language, stating her intention to speak sincerely in the finals [3].

Core Viewpoint - Nakadai Tatsuya, a prominent post-war Japanese actor known for his roles in films directed by Akira Kurosawa, has passed away at the age of 92, leaving behind a legacy of award-winning performances in both film and television [2][4]. Group 1: Career Highlights - Nakadai Tatsuya was a representative actor of the "Haiyuza" theater company, starring in works such as Shakespeare's "Hamlet" [4]. - He made his film debut in Kurosawa's "Seven Samurai" in 1954 and later showcased his exceptional acting skills in films directed by Masaki Kobayashi, including "The Human Condition" [4]. - His performance in Kurosawa's "Kagemusha" won the Palme d'Or at the Cannes Film Festival, contributing to his international acclaim [4]. Group 2: Contributions to Television and Mentorship - In television, Nakadai was known for his nuanced performances, with notable works including "The Children of the Earth," which depicted Japanese war orphans left in China [5]. - In 1975, he co-founded "Munemai-juku" with his wife, Miyazaki Kyoko, to train future actors, including the notable actor Ryuhei Matsuda [5]. - Even in his 80s, he continued to engage in acting activities, with performances scheduled as late as May 2025 [5]. Group 3: Awards and Recognition - In 2015, Nakadai was awarded the Order of Culture in Japan, highlighting his significant contributions to the arts [5]. - His works have received accolades at all three major international film festivals: Cannes, Venice, and Berlin, marking a unique achievement in his career [4].

Core Viewpoint - Toyota has launched a comprehensive update of its HiLux pickup truck for the first time in 10 years, focusing on expanding sales and production in emerging markets, particularly Thailand, amid fierce competition from Chinese automakers like BYD [2][4]. Group 1: Product Launch and Features - The new HiLux was unveiled on November 10 in Bangkok, Thailand, receiving enthusiastic applause from attendees [4]. - The vehicle has been upgraded based on global user feedback, featuring improved engine performance and interior/exterior design, with fuel efficiency increased by up to 8% compared to the previous model [4]. - The starting price for the diesel version in Thailand is 774,000 Thai Baht (approximately 170,000 RMB), and sales commenced on the same day [4]. - An electric version of the HiLux will also be introduced, with a planned launch in 2024 and commercial production aimed for the end of 2025, offering a range of over 300 kilometers per charge at a starting price of 1,490,000 Thai Baht (approximately 330,000 RMB) [4]. Group 2: Production and Market Strategy - Toyota plans to use its Thailand facility as a base for producing the new HiLux, with production also set to begin in Argentina and South Africa [5]. - The factory in Thailand is the largest for HiLux, with a production target exceeding 300,000 units in 2024, of which approximately 71% will be exported to over 130 countries [5]. - The local procurement rate for parts in Thailand is 95%, which supports higher profit margins due to shared chassis with other models [5]. - The HiLux is part of Toyota's IMV (Innovative International Multi-purpose Vehicle) project, which aims to cater to emerging markets, with the HiLux accounting for nearly 70% of the IMV series sales [5]. Group 3: Market Challenges and Competition - The pickup truck market in Thailand is experiencing a significant decline, with projected sales dropping to 200,000 units in 2024, a 56% decrease from 2022 [8]. - High loan rejection rates for car purchases in Thailand are affecting consumer access to pickups, and similar trends are observed in Indonesia due to declining purchasing power [10]. - Japanese automakers are losing market share in Thailand, with their new car sales dropping to 68% in August, down from around 90% in 2020, while Chinese brands have increased their market share to 23% [10]. - Toyota is enhancing its business strategies in emerging markets, including plans to establish a new factory in India by 2026, emphasizing the importance of localizing sales and production to capture demand from the expanding middle class [10].

Core Viewpoint - The article discusses the launch of TikTok Shop in Japan, highlighting its potential to thrive in the Japanese market, which has not yet fully embraced video e-commerce [3][4]. Group 1: TikTok Shop Overview - TikTok Shop is an e-commerce feature that allows users to purchase products directly from videos or live streams without leaving the app [4]. - This feature aims to reduce the risk of users abandoning their shopping carts by minimizing the need to navigate to external websites [4]. Group 2: Market Expansion - TikTok Shop has already seen rapid growth in markets such as the United States and Southeast Asia, indicating a successful model that could be replicated in Japan [4]. - I-ne, a company that has established a dedicated team for TikTok Shop, is leveraging its experience from China to accelerate market development in Japan [3][4].

Core Viewpoint - The Japanese government aims to establish a Japanese version of CFIUS by 2026 to enhance scrutiny of foreign investments and prevent technology and information leakage from domestic companies [2][4][7]. Group 1: Current Investment Review Mechanism - Currently, investment reviews in Japan are managed by the Ministry of Finance and relevant project departments, with a focus on national security-related enterprises [6]. - The existing system allows for pre-review when foreign investors hold a certain percentage of shares, and it includes scrutiny of foreign board members and business succession [6]. - As of now, there has only been one case where the Japanese government advised foreign investors to halt stock acquisitions, indicating a relatively low number of enforced reviews compared to other countries [6]. Group 2: Proposed Changes and Enhancements - The proposal includes creating a new coordination mechanism involving the National Security Bureau and other relevant ministries to enhance the review process [2][4]. - There is a consideration to amend Japan's Foreign Exchange Act to facilitate the establishment of detailed review procedures [4]. - The number of pre-review applications has surged to 2,903 for the fiscal year 2024, which is approximately five times the number from 2018, with over half of these related to the information and communication technology sector [6]. Group 3: Comparison with Other Countries - In 2023, the U.S. conducted only 342 pre-reviews, significantly fewer than Japan, despite Japan's reviews being perceived as less effective due to a smaller workforce [6][8]. - Japan ranks 196th out of 199 countries in terms of direct investment balance as a percentage of GDP, with only 5.9% [8]. - The Japanese government aims to increase the direct investment balance to 120 trillion yen by 2030, highlighting the need for a swift and effective review system to balance economic security and investment promotion [8].

Core Viewpoint - Shiseido has significantly lowered its earnings forecast, expecting a consolidated net loss of 52 billion yen for the fiscal year 2025, primarily due to asset impairment losses from underperforming acquired American brands [2][4]. Financial Performance - For the fiscal year 2025, Shiseido anticipates a consolidated net loss of 52 billion yen, a substantial downgrade from a previous forecast of a profit of 6 billion yen, marking the largest loss in the company's history [2]. - Revenue for the fiscal year 2025 is projected to decrease by 3% year-on-year to 965 billion yen, falling short of the earlier estimate of 995 billion yen [4]. - For the first nine months of fiscal year 2025, the company reported a loss of 43.9 billion yen, compared to a profit of 75.4 million yen in the same period last year [4]. Asset Impairment Issues - The primary reason for the asset impairment in the U.S. business is the underperformance of the skincare brand "Drunk Elephant," acquired in 2019 for approximately 90 billion yen [6]. - Shiseido has faced asset impairment issues from previous acquisitions, including Bare Escentuals and Laura Mercier, leading to significant losses in past fiscal years [6][7]. Strategic Changes - Shiseido plans to implement layoffs and close its research facility in Singapore as part of its restructuring efforts, aiming for a total of over 70 billion yen in core operating profit by fiscal year 2026 [8]. - The new mid-term management plan for fiscal year 2030 emphasizes a shift in brand management strategy, with a focus on centralized decision-making from Japan's headquarters and a unified global brand strategy [8]. Market Challenges - The company faces increasing criticism for optimistic earnings forecasts and governance issues, with its stock price significantly declining from a peak of 9,250 yen in 2018 to around 2,000 yen recently [9]. - The competitive landscape in the premium cosmetics market is intensifying, raising questions about Shiseido's ability to effectively implement its brand rebuilding and market expansion strategies [9].