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Economy

South Korea floats using AI profits for ‘people’s dividend’

President's policy chief suggests redistributive measure to ease AI-driven inequality The administration of South Korean President Lee Jae Myung has floated the idea of having members of the public receive dividends from the massive profits of chipmakers. (Nikkei montage/Source photo by Reuters) SEOUL -- A high-ranking South Korea policymaker suggested Tuesday that members of the public should be paid a share of chipmakers' massive profits, in comments that reflect the growing reliance of Asia's fourth-largest economy on semiconductor exports.

May 12, 2026

Economy

China Inc.’s global growth curbs Trump tariff powers undercut by courts

US president likely to find levy threat gives little leverage over Xi Jinping U.S. President Donald Trump is set to meet Chinese leader Xi Jinping in Beijing this week, as they look to preserve their trade truce. (Nikkei montage/Source photos by Reuters) SHANGHAI -- When U.S. President Donald Trump talks trade with Chinese counterpart Xi Jinping this week, he is likely to find that tariff threats provide less leverage than they used to, not only due to lost legal battles but also because Chinese companies have spent years diversifying global supply chains.

May 12, 2026

Economy

Trump and Xi need to master a new art of the deal

Frequent but substance-light summits can prevent US-China rivalry from veering out of control President Donald Trump and Chinese President Xi Jinping participate in a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017. © AP Minxin Pei is professor of government at Claremont McKenna College and a nonresident senior fellow of the German Marshall Fund of the United States.

May 12, 2026

Economy

Mitsubishi Heavy expects profit surge as Japan eases arms export rules

Defense contractor touts frigate sales abroad as contributing to regional security Mitsubishi Heavy Industries' military hardware includes warships like the destroyer “Yoshii”, launched here at its Nagasaki Shipyard in Japan last December. (Photo by Taro Fujii) TOKYO -- Mitsubishi Heavy Industries expects full-year net profit to surge as it benefits from the Japanese government's decision to ease restrictions on defense equipment exports.

May 12, 2026

Economy

Bond yields jump in Japan and South Korea as US-Iran talks snag

Higher energy prices stir inflation fears; stock markets choppy 10-year Japanese government bond yields jumped to 2.545% on May 12, a level not seen since June 1997. (Photo by Arisa Moriyama) TOKYO -- Inflation worries stemming from the ongoing conflict in the Middle East have sent government bond yields higher in Asia, with Japan's 10-year debt yield soaring to its highest point in nearly three decades. Interest rates are also facing upward pressure in South Korea as the Iran war drags on.

May 12, 2026

Economy

Chinese rare-earth miners bullish ahead of Trump-Xi summit

Earnings rise on higher prices as importers face battle to curb China dominance People gather at the rare-earth elements production section of an exhibition on China’s manufacturing achievements at the National Museum in Beijing on March 24. © Reuters TOKYO -- Chinese rare-earth miners are coming off strong years and staying bullish ahead of President Xi Jinping's summit this week with American counterpart Donald Trump, where the critical minerals are likely to feature in discussions.

May 12, 2026

Economy

Major Japanese petroleum company expects Hormuz crisis to subside in July

Idemitsu Kosan also seeks to secure oil supply from sources outside the Middle East Idemitsu Kosan is one of the few companies that has been able to slip a vessel through the Strait of Hormuz since the U.S. attacked Iran. (Nikkei montage/Source photos by Yuki Nakao and Idemitsu Tanker website) TOKYO -- Idemitsu Kosan, one of Japan's largest petroleum companies, expects the Hormuz crisis to begin subsiding in July, with oil prices to fall to pre-crisis levels early next year.

May 12, 2026

Economy

Private equity firm EQT to buy Japan restaurant review operator for $3.7bn

Bain and LY have also submitted a joint offer for Kakaku.com Sweden's EQT is set to acquire the Japanese operator of the Tabelog restaurant review and booking site. (Source photos by screenshot from Tabelog's website and Ryuta Minamihata) TOKYO -- Sweden-based private equity firm EQT is set to acquire Japan's Kakaku.com, operator of the popular Tabelog restaurant review and booking site, for about 590 billion yen ($3.75 billion), Nikkei learned on Tuesday.

May 12, 2026

Economy

Australia takes aim at rising fuel prices with annual budget

Parliament House in Canberra. Treasurer Jim Chalmers says, "We're delivering a fairer tax system for workers, first home buyers and future generations." (Photo by Ken Kobayashi) CANBERRA -- Australia will allocate additional funds to boosting its fuel and fertilizer supplies as part of a package worth 14.8 billion Australian dollars ($10.68 billion) aimed at addressing the global energy shock unleashed by the U.S.-Israel-Iran war, Treasurer Jim Chalmers announced on Tuesday while unveiling the country's annual budget.

May 12, 2026

Economy

Japan’s Nidec suspected of over 1,000 cases of quality tampering

Fresh allegations follow acounting irregularities at the world's largest motor maker Compliance issues at Kyoto-based motor maker Nidec include unauthorized design changes and falsification of inspection data (Photo by Kosaku Mimura). TOKYO/KYOTO, Japan -- Japan's Nidec is suspected of having engaged in quality tampering involving more than 1,000 cases, extending a series of compliance issues at the world's largest motor maker that were previously centered on accounting irregularities, Nikkei has learned Tuesday.

May 12, 2026

Economy

Bessent says FX volatility ‘undesirable’ after meeting Japan’s Takaichi

US Treasury chief touches on JGB yields, BOJ policy; bilateral chat follows yen intervention Japanese Prime Minister Sanae Takaichi, right, and U.S. Treasury Secretary Scott Bessent pose for photos at the prime minister's office in Tokyo on May 12. (Photo by Ken Suzuki) TOKYO -- U.S. Treasury Secretary Scott Bessent said that both Washington and Tokyo see excessive volatility in currency markets as undesirable, following his meeting with Japanese Prime Minister Sanae Takaichi on Tuesday.

May 12, 2026

Economy

Japan bearing makers NSK, NTN agree to merger into world’s top player

Manufacturers see need for industry realignment amid mounting costs, competition NSK President Akitoshi Ichii, left, shakes hands with NTN President Eiichi Ukai at a news conference May 12. (Photo by Kosaku Mimura) TOKYO -- Japan's NSK and NTN will merge their operations in a move that would create the world's top bearing manufacturer, the companies said Tuesday, seeking economies of scale to control rising costs.

May 12, 2026