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Dozens feared trapped in mall after major quake rocks Japan’s Kumamoto
Economy

Dozens feared trapped in mall after major quake rocks Japan’s Kumamoto

TSMC, Sony and Fujifilm evacuate plants after magnitude-7.1 temblor An Aeon mall in Japan's Kumamoto prefecture was damaged in an earthquake on July 28, with authorities saying many people could be trapped inside. © Kyodo TOKYO -- Around 20 to 30 people are feared trapped inside a mall in Japan's southwestern prefecture of Kumamoto after a magnitude-7.1 earthquake triggered an explosion and caused part of the building to collapse on Tuesday afternoon. The explosion occurred at Aeon Mall Kumamoto in the town of Kashima after customers were evacuated, major Japanese retailer Aeon reported. Police sources said employees were among those who may still be inside the complex. Aeon said it was investigating the cause of the explosion and the extent of the damage. The earthquake struck around 4:27 p.m. at a shallow depth of 10 kilometers, the Japan Meteorological Agency reported. It registered the maximum intensity of 7 on Japan's seismic scale in the city of Uki and the town of Hikawa. Shaking of such intensity can tilt or topple buildings with low seismic resistance. Strong aftershocks continued for hours afterward, with four quakes measuring lower 5 or above recorded by 8 p.m.

Labubu takes Manhattan: Chinese brands target inflation-hit US
Economy

Labubu takes Manhattan: Chinese brands target inflation-hit US

Pop Mart readies NYC flagship store while Luckin moves into former Starbucks shops Labubu seller Pop Mart, Luckin Coffee and ice cream chain Mixue are among the Chinese brands making forays into New York. (Nikkei montage/Source photos by Reuters) NEW YORK -- Chinese brands are gaining traction with thrifty young consumers in the U.S. as inflation creates a tailwind for businesses competing on price, even in areas once led by Japanese companies like sushi and character merchandise.

China rejects ‘overcapacity’ claims in sweeping rebuttal against US, EU
Economy

China rejects ‘overcapacity’ claims in sweeping rebuttal against US, EU

Commerce ministry seeks to rebrand 'China Shock 2.0' as innovation opportunity Cars are lined up for export at Shanghai's port on July 14. (China Daily via Reuters) SHANGHAI -- China on Tuesday issued a lengthy rebuttal to claims that it is enabling industrial overcapacity, as the U.S. and Europe ready new tariffs and other trade curbs on Chinese imports.

A six-point plan to make the US-Japan alliance battle-ready
Economy

A six-point plan to make the US-Japan alliance battle-ready

A partnership of equals needs joint planning, production and deterrence Valiant Shield is a large-scale military exercise led by the U.S. in the Western Pacific that includes allies including Japan. (Screenshot from U.S. Navy's Facebook page) David Santoro is president and CEO of the Hawaii-based Pacific Forum, which runs the annual Honolulu Defense Forum, an event that facilitates dialogue between public and private-sector actors to bolster U.S. and allied deterrence in an increasingly contested Indo-Pacific.

South Korea’s KOSPI plunges 11% on China chip competition fears
Economy

South Korea’s KOSPI plunges 11% on China chip competition fears

Major tech stocks in Japan and Taiwan also fell sharply across the board Stock indexes were down across major Asian markets on July 28, following declines on Wall Street and fears over stiffer Chinese competition. (Photo by Ahn Seong-bok) TOKYO -- South Korean and Japanese stocks dropped sharply Tuesday, following a sell-off in tech shares overnight on Wall Street brought on by concerns about the cost of large-scale investments and the rise of Chinese chipmakers.

Japanese real estate company moves into Texas to renovate, resell homes
Economy

Japanese real estate company moves into Texas to renovate, resell homes

Daito Trust Construction chooses growing Dallas area for 2nd US location The company looks to sell renovated homes like this one primarily to Japanese investors. (Daito Trust Construction) TOKYO -- Japan's Daito Trust Construction has gained a new U.S. foothold in the state of Texas to resell renovated single-family homes in the booming city of Dallas as it seeks growth overseas.

In Focus: Powerful magnitude-7.1 earthquake jolts Kumamoto
Economy

In Focus: Powerful magnitude-7.1 earthquake jolts Kumamoto

Explosion and partial collapse reported at mall in southwestern Japan Search and rescue operations at the Aeon Mall Kumamoto in the town of Kashima after an earthquake struck July 28. Many people are feared trapped inside the building. © Kyodo TOKYO -- A powerful earthquake with an estimated magnitude of 7.1 struck southwestern Japan's Kumamoto prefecture around 4:27 p.m. Tuesday. The Japan Meteorological Agency said the quake originated in the Kumamoto region on the island of Kyushu at a depth of about 16 kilometers. It is the first quake in the country to reach the maximum intensity level of 7 on Japan's seismic scale since the 2024 Noto Peninsula earthquake. The agency warned that strong temblors may continue for about a week, especially over the next two to three days. Following the quake, an explosion occurred at Aeon Mall Kumamoto in Kashima, retailer Aeon said. The Fire and Disaster Management Agency reported that part of the second floor collapsed, leaving many people trapped. Police officials said 20 to 30 people, including employees, may still be inside. Aeon said the explosion happened after customers had been evacuated and that the cause and extent of the damage are under investigation.

SoftBank eyes buying ex-Sony payments firm to boost settlements business
Economy

SoftBank eyes buying ex-Sony payments firm to boost settlements business

Japan telecom carrier looks to bolster out-of-app payments for games, other apps Combined transactions between SP.Links and SoftBank's existing payments subsidiary would likely rival those of the industry leader. (Photo by Kazuho Fujiwara) TOKYO -- Japanese telecommunications carrier SoftBank Corp. is weighing a purchase of major payment services company SP.Links, formerly Sony Payment Services, Nikkei learned Monday.

Japan developer Hulic eyes top banana distributor in diversification push
Economy

Japan developer Hulic eyes top banana distributor in diversification push

Real estate company seeks stakes in niche market leaders beyond usual domain Japanese produce distributor Farmind controls a substantial domestic market share for bananas and kiwifruit. (Farmind) TOKYO -- Japanese real estate company Hulic envisions establishing a nationwide refrigerated logistics network by acquiring a 20% stake in major domestic produce distributor Farmind, as the developer expands into new sectors.

CATL thrives while China’s EV makers squeezed by supply chain, weak market
Economy

CATL thrives while China’s EV makers squeezed by supply chain, weak market

Battery producer passes on higher costs, boosts capacity of its products CATL's broad range of vehicle batteries includes those designed for longer ranges and low-cost models with long lifespans and short charging times. (Photo by Shizuka Tanabe) GUANGZHOU -- Chinese automotive battery maker CATL has achieved strong earnings this year with improved capacity for electric vehicle batteries and success in passing on higher costs, in stark contrast to the deteriorating performance of its automaker customers caught between market pressures.

Japan securities dealers to disclose more corporate bond trades
Economy

Japan securities dealers to disclose more corporate bond trades

JSDA to publish info on nearly 90% of corporate bond transactions, up from 62% The Japan Securities Dealers Association publishes corporate bond transaction data on its website the next business day. (Photo by Takuya Fujisawa) TOKYO -- The Japan Securities Dealers Association plans to broaden its disclosures to a much larger majority of corporate bond transactions, Nikkei has learned, as the industry group aims to improve market transparency.

Taiwan’s pivot away from China offers a lesson for democracies
Economy

Taiwan’s pivot away from China offers a lesson for democracies

Tsai Ing-wen's trade shift reduced Beijing's leverage and made Taiwan indispensable to the US Taiwan's former President Tsai Ing-wen, left, and new President Lai Ching-te wave to people during Lai's inauguration ceremony outside the presidential office building in Taipei on May 20, 2024. © Reuters Chris Horton is a Taipei-based journalist and author of "Ghost Nation: The Story of Taiwan and Its Struggle for Survival," published by Macmillan in 2025.