Japan

不祥事相次ぐ、原子力業界…今なお残る「原子力村」特有の価値観とは

Mainichi Shimbun | Local Language | News | Jan. 23, 2026 | Political Scandal or Corruption

Tokyo Electric Power Holdings (TEPCO HD) restarted the Kashiwazaki-Kariwa Nuclear Power Plant in Niigata Prefecture on January 21, 2026, marking a key step in its business recovery since the Fukushima Daiichi disaster. The company anticipates an annual revenue improvement of about 100 billion yen per reactor unit from these restarts and plans to continue revitalization efforts focused on data centers and decarbonization.

The Japanese government continues to advocate maximizing nuclear power usage as a stable, carbon-free energy source to ensure energy security and economic growth. The next planned restart is Hokkaido Electric Power’s Tomari Unit 3, targeted for early 2027, which could lower electricity rates in Hokkaido by around 11% for households and 7% overall. This reduction in rates may attract data center operators and other businesses from overseas.

However, a major scandal has emerged involving Chubu Electric Power’s Hamaoka Nuclear Power Plant, where seismic safety data was found to have been arbitrarily determined during the restart review process. This controversy raised concerns about the safety culture in Japan’s nuclear industry, with experts likening the misconduct to practices associated with the old "nuclear village." The scandal casts doubt on safety awareness across other power companies and threatens public trust in nuclear restarts.

２５年の貿易赤字２・６兆円 対米輸出は４・１％減

Tokyo Shimbun | Local Language | News | Jan. 23, 2026 | UndeterminedTrade Issues and Numbers

Japan recorded a trade deficit of 2.6507 trillion yen in 2025, marking the fifth consecutive year of deficit. However, the deficit decreased by 52.9% compared to the previous year. Exports to the United States declined by 4.1% to 20.414 trillion yen, the first drop in five years, largely due to high tariff measures imposed during the Trump administration. Notably, automobile exports to the U.S. fell 11.4%.

Globally, exports rose 3.1% to 110.448 trillion yen, the highest since 1979, supported by increased shipments of electronic components such as semiconductors to Asia and engines to the U.S. Imports increased slightly by 0.3% to 113.0987 trillion yen.

Other exports to the U.S. also decreased significantly, including semiconductor manufacturing equipment down 30.2% and automobile parts down 10.7%. Imports from the U.S. rose 1.6% to 12.8926 trillion yen, resulting in a U.S.-Japan trade surplus of 7.5214 trillion yen, though this surplus decreased by 12.6%.

On January 22, the yen traded in the low 158-yen-per-dollar range in the Tokyo foreign exchange market.

【開催報告】ウェビナー「高市政権の財政・税制の検証と今後の課題」（2026年1月8日 開催）

Tokyo Foundation for Policy Research | Local Language | AcademicThink | Jan. 23, 2026 | UndeterminedTaxes

The Takai administration has positioned "responsible proactive fiscal policy" as the cornerstone of its economic and fiscal management strategy, unveiling its first budget proposal for Fiscal Year Reiwa 8 with a general account total of ¥122.3 trillion, the largest for the second consecutive year. Tax revenues are forecasted to hit a record ¥83.7 trillion, while debt-service costs surpass ¥30 trillion. In a webinar held on January 8, 2026, fiscal experts from the Tokyo Foundation debated the realism of maintaining debt growth within economic growth rates as a substitute for achieving a primary balance surplus, among other fiscal policy concerns.

The discussion focused on various aspects, including the evaluation of the primary balance on a general-account basis, problems with the fiscal deficit-to-GDP ratio indicator, and the complexities of budget formulation under a small ruling party. Tax reforms received particular attention, including debates on income thresholds—specifically the ¥100 million threshold—and the review of burdens on extremely high incomes. The experts also assessed the expansion of investment tax cuts aimed at strengthening the economy, the clarity of priorities in the tax reform package, evidence-based policy making (EBPM) considerations, and the prospects for a Japanese version of DOGE (digital governance).

Further dialogue centered on the introduction and potential role of tax credits with benefits within the broader framework of tax and social security integration. Key issues raised included whether benefits should be allocated to family or individual units, the division of responsibility between national and local governments, funding mechanisms, and the digital infrastructure necessary for implementation. The webinar drew on detailed research and policy materials, emphasizing ongoing challenges and future directions in Japan’s fiscal and tax policy landscape under the Takai administration.