The EU Business Hub @ Smart Energy Week Autumn 2025 Business Mission, taking place from September…
Weekly Japanese Industry and Policy News: 19 Apr - 25 Apr,2025
The EU Japan Centre is releasing a weekly press review covering Japan's economic and policy matters.
Economic News
▶ Security Issues Separate from Japan-U.S. Tariff Talks; Japan Govt Wary Trump Will Try to Link the Two
19 Apr, 2025
During recent U.S.–Japan tariff talks, President Trump briefly raised concerns about Japan’s defense spending but did not pursue the issue further, easing Japan's fears that security matters would become bargaining chips. Japan had been anxious after Trump hinted on social media that military cost-sharing could be part of the negotiations. While Trump voiced dissatisfaction about Japan’s contributions to U.S. troop costs, the discussion remained limited, and the main talks focused on economic issues. Japanese officials aim to keep security separate from trade talks, though they remain cautious due to Trump’s unpredictable negotiating style.
Yomiuri: https://japannews.yomiuri.co.jp/politics/politics-government/20250419-249871/
▶ Japan seeks efficient use of official development aid with law change
19 Apr, 2025
Japan has revised its Official Development Assistance (ODA) law to better address global development challenges within a limited budget by encouraging private sector investment. The updated law empowers the Japan International Cooperation Agency (JICA) to support bond issuance in developing countries and offer credit guarantees to promote small business lending. The changes aim to make ODA more flexible and effective, especially in tackling issues like climate change and poverty. With Japan’s ODA budget halved since its 1997 peak, the government sees ODA as a key diplomatic tool, particularly in response to China’s growing regional influence.
Kyodo: https://english.kyodonews.net/news/2025/04/41b8b73d7bad-japan-seeks-efficient-use-of-official-development-aid-with-law-change.html
▶ Japan eyes world first producing hydrogen using heat from reactor
20 Apr, 2025
Japan’s Atomic Energy Agency (JAEA) plans to start producing clean hydrogen using heat from its High Temperature Engineering Test Reactor (HTTR) by 2028, marking the world’s first hydrogen production using a nuclear reactor. The HTTR, a high-temperature gas-cooled reactor, can generate higher temperatures than conventional reactors, enabling efficient hydrogen production. While the initial process will emit some CO₂, JAEA is also researching zero-emission methods. The project aims to pave the way for a larger demonstration HTGR to be operational by the late 2030s.
Asahi: https://www.asahi.com/ajw/articles/15689354
▶ Japanese Govt, Firms Plan to Develop Next-Generation Geothermal System; Public-Private Sector Council Launched
20 Apr, 2025
Japan's Ministry of Economy, Trade and Industry has launched a public-private council to promote next-generation geothermal power, aiming for practical use by the early 2030s. With abundant geothermal resources due to its many volcanoes, Japan seeks to boost private investment and overcome challenges linked to traditional geothermal methods. The focus is on closed-loop systems, which offer broader development potential and fewer environmental impacts. The council, which includes over 70 companies, will create a commercialization roadmap by year-end and explore supercritical geothermal technologies. Despite its potential, geothermal accounted for only 0.3% of Japan’s energy in 2023, with a target of 1–2% by 2040.
Yomiuri: https://japannews.yomiuri.co.jp/business/economy/20250420-250213/
▶ Japan PM Ishiba Vows Aid for Small Biz over U.S. Tariffs
21 Apr, 2025
Japanese Prime Minister Shigeru Ishiba pledged government financial support for small businesses impacted by U.S. tariffs imposed under President Trump. He suggested easing loan requirements and using employment adjustment subsidies if businesses are forced to halt operations. Economic Revitalization Minister Ryosei Akazawa also conveyed Japan’s concerns to the U.S., arguing the tariffs may violate both the Japan-U.S. trade agreement and WTO rules.
Jiji: https://jen.jiji.com/jc/eng?g=eco&k=2025042100457
▶ Green Steel Roundtable Reconvenes to Accelerate GX Initiatives
21 Apr, 2025
The "Green Steel Study Group for GX Promotion" held a follow-up meeting on April 21, 2025, to share progress since its final report. Key updates include new subsidies for automakers using low-carbon steel, CFP-based procurement standards, and expanded green steel declarations by major companies. Japan is aligning with international frameworks, including the EU's CBAM and Steel Action Plan, and following SBTi standards. Efforts are also underway to enhance global competitiveness, public awareness, and transparency, while developing CFP guidelines across steel, aluminum, and chemical industries. Future plans focus on global recognition and market expansion for green steel.
METI(Japanese): https://www.meti.go.jp/shingikai/mono_info_service/green_steel/follow_up/001.html
METI (Briefing Materials/Japanese): https://www.meti.go.jp/shingikai/mono_info_service/green_steel/follow_up/pdf/001_04_00.pdf
▶ Japan-Netherlands Summit Meeting and Working Lunch
21 Apr, 2025
On April 21, Japanese Prime Minister Shigeru Ishiba held a summit with Dutch Prime Minister Dick Schoof in Tokyo, marking Schoof’s first visit to Japan and the 425th anniversary of Japan-Netherlands relations. The two leaders announced the Japan-Netherlands Action Plan 2025 to strengthen cooperation in security, trade, technology, energy, and culture. They affirmed shared values on global security, condemned attempts to change the status quo by force, and expressed concern over Russia-North Korea military ties. They also agreed to work closely on challenges in Ukraine, East Asia, and maintaining regional stability in both the Euro-Atlantic and Indo-Pacific regions.
MOFA: https://www.mofa.go.jp/pageite_000001_00902.html
Reference: https://www.mofa.go.jp/files/100833295.pdf
▶ Japan to Assist in Achieving International Standardization for Specialist Areas; Solar, Sectors Include Solar, Hydrogen Technologies
22 Apr, 2025
Japan’s Economy, Trade and Industry Ministry will support five key tech sectors—perovskite solar cells, quantum, hydrogen and ammonia, bio-manufacturing, and data linkage platforms—in achieving international standardization to boost global competitiveness. For the first time, the Japanese government will promote standardization in specific fields through public-private partnerships, with a national strategy to be finalized by June. Establishing global standards, such as those set by ISO and IEC, can help Japanese technologies gain a strategic advantage in global markets. As international competition, especially from the U.S., China, and the EU, intensifies, Japan aims to enhance economic security by developing expertise in setting global norms for cutting-edge technologies.
Yomiuri: https://japannews.yomiuri.co.jp/business/economy/20250422-250333/
▶ Japan PM to make 4-day visit to Vietnam, Philippines from April 27
23 Apr, 2025
Prime Minister Shigeru Ishiba will visit Vietnam and the Philippines from April 28 to May 1 as part of Japan’s summit diplomacy to strengthen ties with Southeast Asia and promote a rules-based Indo-Pacific order. The trip comes amid global uncertainty and follows Chinese President Xi Jinping’s recent visit to the region. Ishiba aims to deepen personal and strategic relationships with key leaders, including Vietnam’s Communist Party General Secretary To Lam, Prime Minister Pham Minh Chinh, and Philippine President Ferdinand Marcos Jr., while enhancing economic and security cooperation. Chief Cabinet Secretary Yoshimasa Hayashi emphasized the importance of Southeast Asia as a key growth engine and strategic partner for Japan.
▶ Japan, UK to ease personal data transfers to foster medical research
24 Apr, 2025
Japan and the U.K. have agreed to expand their cross-border data transfer agreement to include academia and the public sector, aiming to accelerate medical research and drug development. This builds on an existing arrangement for businesses and will be implemented by spring 2025. The move aligns Japanese data protection standards more closely with the U.K.’s strict GDPR rules. Japan is also negotiating similar agreements with the EU to ease data flows for research. Experts believe improved data sharing will enhance healthcare innovation, economic growth, and system efficiency.
Nikkei Asia: https://asia.nikkei.com/Business/Technology/Japan-UK-to-ease-personal-data-transfers-to-foster-medical-research
▶ Japan-Luxembourg Summit Meeting and Working Dinner
24 Apr, 2025
On April 24, Japanese Prime Minister Shigeru Ishiba and Luxembourg Prime Minister Luc Frieden held a summit to discuss enhancing bilateral relations ahead of the 100th anniversary of their diplomatic ties in 2027. The leaders highlighted cooperation in areas like space exploration, with Luxembourg's lunar rover project, as well as finance, AI, and human exchanges. They also addressed regional issues, including North Korea, Ukraine, and the global security environment, agreeing on the need for multilateral cooperation and the importance of maintaining a free trade system. The summit was followed by a working dinner to further strengthen ties.
MOFA: https://www.mofa.go.jp/erp/we/lu/pageite_000001_00915.html
▶ Final H2A rocket to be launched in June
24 Apr, 2025
Japan will launch its 50th and final H2A rocket on June 24 from Tanegashima Space Center, marking the end of the H2A series, which began in 2001 and boasts a 98% success rate. The rocket has carried key missions, including the Himawari weather satellites and Hayabusa2 probe. The final launch was delayed due to development issues with its payload, the GOSAT-GW satellite. The H2A will be succeeded by the H3 rocket series, developed by JAXA and Mitsubishi Heavy Industries to lower costs and enhance performance.
Japan times: https://www.japantimes.co.jp/news/2025/04/24/japan/japan-h2a-rocket-final-launch/
▶ Japan's EV charging standard emerges as topic in US trade talks
24 Apr, 2025
A Japanese quick-charging standard for EVs, CHAdeMO, has become a point of contention in Japan-U.S. tariff negotiations. The U.S. argues that Japan's subsidy requirement for CHAdeMO compliance creates an unfair barrier for foreign automakers like Tesla, whose vehicles require adapters to use such chargers. Japan defends the policy, stating that publicly funded subsidies should support widely accessible infrastructure. As Japan aims to expand its charging network significantly by 2030, the issue may be addressed in broader trade talks. The dispute ties into U.S. President Trump's goal of reducing the trade deficit with Japan, while Japan seeks a comprehensive "package" agreement.
▶ Future of aerial CO2 capture tech on display at Osaka Expo
24 Apr, 2025
Japan's largest direct air capture (DAC) test plant is now operating at Expo 2025 Osaka, showcasing cutting-edge technology that removes CO2 from the atmosphere. Developed by the Research Institute of Innovative Technology for the Earth (RITE), the facility uses amine-coated mesh in cylindrical devices to absorb and later release CO2, which is then converted into methane for fuel use at the Expo. While DAC is less efficient and more costly than traditional carbon capture methods, it plays a crucial role in achieving carbon neutrality, especially where point-source capture is not viable. Other universities are also displaying innovative DAC solutions, highlighting Japan’s commitment to advancing carbon removal technologies despite high costs and energy demands.
Asahi: https://www.asahi.com/ajw/articles/15695842
▶ Japan’s Greenhouse Gas Emissions Fall 4% in FY23/24 to Record Low
25 Apr, 2025
Japan's greenhouse gas emissions fell by 4% to a record low of 1.071 billion metric tons in the fiscal year ending March 2024, driven by reduced energy consumption, increased use of renewables, and the restart of nuclear power plants. This marks a 23.3% decrease from 2013 levels and the second consecutive year of declines. Emissions dropped across all major sectors, with households and commercial sectors showing the largest reductions. Renewable energy accounted for 22.9% of electricity generation, and nuclear energy rose to 8.5%, while reliance on thermal power fell to 68.6%.
Yomiuri: https://japannews.yomiuri.co.jp/science-nature/environment/20250425-250930/
▶ Japanese ESTA Advances to FY ’28 Implementation; Target Moves 2 Years Ahead of Previous Plan
25 Apr, 2025
Japan will implement an online prescreening system for foreign nationals by fiscal 2028, two years ahead of the previous 2030 target. Similar to the U.S. ESTA system, it will require travelers from visa-exempt countries to apply online before their trip, providing personal and travel details. The system aims to prevent illegal entry and terrorism, while easing immigration procedures. The move aligns with Japan's goal to boost foreign visitors to 60 million by 2030.
Yomiuri: https://japannews.yomiuri.co.jp/politics/politics-government/20250424-250824/
▶ Japan unveils emergency economic steps to curb impact of U.S. tariffs
25 Apr, 2025
In response to U.S. President Donald Trump’s higher tariffs, Japan's government has announced a package of emergency economic measures. The plan includes support for corporate financing, measures to boost consumption, and a reduction in gasoline and diesel prices. Prime Minister Shigeru Ishiba emphasized the need for Japan and the U.S. to cooperate, as the tariffs could hurt key industries like automobiles and steel. Japan's economic revitalization minister will visit the U.S. to negotiate exemptions or revisions to the tariffs.
▶ Japan's lower house passes AI bill as nation targets Western investment
25 Apr, 2025
Japan's lower house has passed its first AI regulatory bill, aiming to position the country as the "most AI-friendly" in the world. The bill promotes innovation and allows government oversight without imposing binding regulations, reflecting Japan's moderate stance between the strict EU and China models and the U.S.'s hands-off approach. While intended to attract global AI investment, challenges remain due to limited domestic AI development and heavy U.S. dominance in the field. Trade tensions, including Trump’s tariffs on China, may shift some investment toward Japan, but U.S. firms are expected to remain central to global AI growth.
Nikkei Asia: https://asia.nikkei.com/Business/Technology/Japan-s-lower-house-passes-AI-bill-as-nation-targets-Western-investment
Business News
▶ Nippon Electric Glass develops large glass substrates for AI chips
21 Apr, 2025
Nippon Electric Glass plans to ship samples of large glass substrates for high-performance semiconductors by 2026, aiming to replace plastic substrates with heat-resistant glass. The initial sample size will be 510 mm, with a 600-mm version targeted by 2028. These substrates support chiplet-based chip structures, crucial for applications like generative AI. Glass offers better thermal stability and rigidity, and the company has developed a CO₂ laser drilling process to create fine wiring holes, avoiding the need for harsh chemical etching. Leveraging expertise from LCD glass, the company aims to reduce costs through mass production. Nippon Electric Glass is also developing glass-ceramic hybrid substrates, with samples over 500 mm ready by 2025. With major players like Intel moving toward glass substrates, the company sees semiconductor components as a key strategic growth area. Competitors include AGC and Dai Nippon Printing.
▶ Nippon Steel’s GX Steel “NSCarbolex Neutral” Adopted in Office Furniture by Japanese Municipality
21 Apr, 2025
Tokai City has decided to procure steel office furniture (lockers and storage systems) made by Okamura Corporation using Nippon Steel's GX steel NSCarbolex® Neutral. This marks the first adoption of such green steel by a Japanese municipality under the revised Green Purchasing Law, which promotes procurement based on CO₂ emission reduction and lifecycle environmental data. The initiative aligns with Tokai City’s zero-carbon goals and reflects a broader collaboration between Nippon Steel and Okamura to support carbon neutrality through advanced low-carbon steel solutions.
Nippon Steel (Japanese): https://www.nipponsteel.com/news/20250421_100.html
NSCarbolex® Neutral: https://www.nipponsteel.com/en/product/nscarbolex/
▶ Tokyo Electron turns to India's deep talent pool for development hub
22 Apr, 2025
Japanese chip equipment maker Tokyo Electron will open its first development base in Bengaluru, India this summer, aiming to tap into the country's skilled tech workforce. The facility will focus on AI-driven chipmaking tool design and software development, growing to around 300 local employees by 2027. This move aligns with India’s push for semiconductor self-reliance, supported by government incentives. Tokyo Electron has also partnered with Tata Electronics and plans to open a support center near Tata’s upcoming chip fab in Gujarat. Rival firms like Applied Materials and Lam Research already operate in India.
▶ Fujitsu and RIKEN develop world-leading 256-qubit superconducting quantum computer
22 Apr, 2025
Fujitsu and RIKEN have developed a cutting-edge 256-qubit superconducting quantum computer, building on their 64-qubit model from 2023. This new system features scalable 3D architecture and quadrupled density within the same cooling unit. Set to launch globally in fiscal Q1 2025, it will support advanced research in fields like finance and drug discovery. The organizations plan to develop a 1,000-qubit system by 2026 and extend their collaboration through 2029.
Fujitsu: https://www.fujitsu.com/global/about/resources/news/press-releases/2025/0422-01.html?_gl=1*19wi53b*_ga*MTkzNzY0ODQ4OC4xNzQxMTQyMzE4*_ga_GNHKR21PZP*MTc0NTI5OTM0MC43LjAuMTc0NTI5OTM0Ni41NC4wLjA.
▶ Japan firms to take stakes in Nvidia-powered data center of Vietnam's FPT
22 Apr, 2025
Sumitomo Corp. and SBI Holdings will each acquire a 20% stake in FPT Smart Cloud Japan, a data center business launched by Vietnamese tech firm FPT. The Tokyo-based center, which began operations in April 2025, uses around 1,000 Nvidia H200 GPUs and aims to support AI-driven applications. The three companies plan to invest ¥30 billion ($210 million) over the next few years to expand GPU capacity, potentially quintupling computing power. The center will offer hourly cloud-based AI computing services to industries like drug discovery, finance, and manufacturing. FPT will also provide AI support to smaller businesses, leveraging its Vietnam-based team for cost-effective services. FPT Smart Cloud Japan aims to expand its workforce to 5,000 employees by end-2025, supporting growth in Japan's AI data center market.
▶ ANA Becomes First Japanese Airline to Offer Cargo Booking Through CargoWise
22 Apr, 2025
All Nippon Airways (ANA) has become the first Japanese airline to offer cargo space booking via WiseTech Global’s CargoWise platform, starting April 11, 2025. This move allows freight forwarders, beginning with DHL Global Forwarding, to book ANA cargo digitally 24/7, enhancing efficiency and convenience. ANA aims to expand this service to more forwarders and strengthen its digital cargo capabilities globally.
▶ Japan's Fujifilm rides US-China rift to land $3bn biopharma deal
22 Apr, 2025
Fujifilm Holdings has signed a 10-year, $3 billion contract with Regeneron Pharmaceuticals to manufacture biologic drugs in the U.S., marking the largest known biopharma manufacturing deal. Production will begin in 2025 at Fujifilm’s new North Carolina facility, part of its strategic expansion into pharmaceuticals. The deal reflects U.S. efforts to strengthen domestic drug supply chains amid rising tariffs and national security concerns. As outsourcing to China becomes riskier, U.S. and global pharma giants are increasing investments at home. The U.S. biologics CDMO market is expected to grow significantly, reaching $23.6 billion by 2034.
Nikkei Asia: https://asia.nikkei.com/Business/Pharmaceuticals/Japan-s-Fujifilm-rides-US-China-rift-to-land-3bn-biopharma-deal
▶ Through Collaborative Creation, Daikin and Hitachi Begin Trial Operation of AI Agent Supporting Equipment Failure Diagnostics in Factories
22 Apr, 2025
Daikin Industries and Hitachi have launched trial operations of an AI-powered diagnostic agent at Daikin’s Sakai plant in Osaka as of April 2025. The agent combines generative AI with operational technology (OT) knowledge to support factory maintenance staff by identifying equipment failure causes and proposing solutions. In preliminary tests, the system achieved over 90% accuracy and responded within 10 seconds. The initiative aims to address labor shortages and skill gaps in manufacturing by digitizing maintenance expertise and improving efficiency. The trial is set to run through September 2025, with plans for full implementation and expansion to Daikin’s global production sites. Hitachi also plans to offer the technology as part of its Lumada solutions to support wider use across the manufacturing sector.
Hitachi: https://www.hitachi.com/New/cnews/month/2025/04/250422.pdf
▶ Toyota-Daimler push for truck merger fueled by hydrogen ambitions
23 Apr, 2025
Toyota and Daimler Truck are close to merging their commercial vehicle units, Hino Motors and Mitsubishi Fuso, respectively, to advance hydrogen fuel technology. Despite hurdles like antitrust concerns and Hino's engine data scandal, the companies are motivated by their shared commitment to hydrogen. Toyota has been a pioneer in hydrogen-powered cars, while Daimler Truck is focusing on fuel-cell trucks using liquid hydrogen. The merger, part of a broader strategy involving multiple Japanese automakers, aims to make commercial vehicles the starting point for promoting hydrogen mobility.
Nikkei Asia: https://asia.nikkei.com/Business/Business-deals/Toyota-Daimler-push-for-truck-merger-fueled-by-hydrogen-ambitions
▶ Konica Minolta aims to double life of flexible solar cells with new film
23 Apr, 2025
Konica Minolta is developing a protective film to double the lifespan of flexible perovskite solar panels from 10–15 years to around 20 years. The film blocks moisture and will be produced in Japan, with sample shipments starting as early as fiscal 2025. Perovskite solar cells, known for their flexibility and potential to revolutionize renewable energy, are a growing focus in Japan. Konica Minolta, traditionally an office equipment maker, sees this as a new growth area amid declining paper use. Japan aims to install 20 GW of perovskite panels by 2040 to enhance energy security and reduce reliance on Chinese-made solar cells.
Nikkei Asia: https://asia.nikkei.com/Business/Energy/Konica-Minolta-aims-to-double-life-of-flexible-solar-cells-with-new-film
▶ BYD takes on Japan's minicar market with cheap, in-house batteries
23 Apr, 2025
Chinese EV maker BYD is preparing to enter Japan’s kei car market in 2025, a segment dominated by domestic brands like Suzuki and Subaru. Kei cars, known for their compact size and efficiency, made up 40% of Japan’s new car sales in 2024. BYD plans to leverage its low-cost, in-house Blade Battery technology to produce affordable and high-performing electric kei cars, targeting everyday drivers. This move is seen as a major threat to Japanese automakers, especially as BYD recruits local talent. BYD's entry into this niche marks a rare challenge from a foreign automaker in a market traditionally resistant to overseas players.
▶ Japan's Rohm develops power semiconductor for faster EV charging
24 Apr, 2025
Japanese electronics company Rohm has developed a new silicon carbide (SiC) power semiconductor module that is 50% more energy-efficient than existing alternatives. Designed for use in onboard EV chargers and charging stations, the module combines multiple semiconductors into a compact, lightweight unit. It enhances energy efficiency and supports faster charging and longer EV range. Two international companies have already adopted the module. Circuit formation will occur in Japan, with assembly in Thailand. Rohm continues to focus on SiC technology, having also developed a power module for e-axle systems in 2024.
Nikkei Asia: https://asia.nikkei.com/Business/Tech/Semiconductors/Japan-s-Rohm-develops-power-semiconductor-for-faster-EV-charging
▶ Japan's NTT Data partners with OpenAI to offer AI business tools
24 Apr, 2025
NTT Data has partnered with OpenAI to offer secure, enterprise-grade generative AI tools globally, including AI agents for automating business tasks. As a sales agent for ChatGPT Enterprise, NTT Data will provide consulting, system support, and integration services. The company aims to generate ¥100 billion ($700 million) in AI-related sales by FY2027, leveraging its global network in 50+ countries. This move supports OpenAI’s push into stable enterprise markets, as the global AI agent market is projected to reach $47.1 billion by 2030.
Nikkei Asia: https://asia.nikkei.com/Business/Technology/Artificial-intelligence/Japan-s-NTT-Data-partners-with-OpenAI-to-offer-AI-business-tools
▶ Isuzu to Use Green Steel in Commercial Vehicles, in 1st for Japanese Automakers
25 Apr, 2025
Isuzu Motors will begin using green steel—produced with lower CO2 emissions—in truck manufacturing this fiscal year, becoming the first major Japanese automaker to do so for commercial vehicles. Starting with its electric Elf light-duty truck, Isuzu will source the eco-friendly steel from suppliers like Nippon Steel. About 1,000 tons will also be used in a new R&D facility in Kanagawa. The move supports reduced emissions and a domestic green steel supply chain, though higher costs and lack of government subsidies remain challenges.
Yomiuri: https://japannews.yomiuri.co.jp/business/companies/20250425-250811/
▶ Tokyo Electron targets faster chip tool production as China rivals rise
25 Apr, 2025
Tokyo Electron has opened a new 52 billion yen ($365 million) development facility in Miyagi, Japan, aimed at tripling production speed for chipmaking equipment, particularly plasma etching tools. The site will support rising global demand driven by AI and help the company stay ahead of growing Chinese competition. The new building features automated systems and clean rooms, with plans to apply innovations to a second production plant by 2027. As China boosts its domestic chip tool industry, Tokyo Electron—Japan's top and the world's fourth-largest chip equipment maker—seeks to maintain its competitive edge through efficiency and technology.
▶ Nissan sees record yearly loss of around $5bn
25 Apr, 2025
Nissan Motor has drastically revised its fiscal 2024 forecast, expecting a record net loss of 700–750 billion yen ($4.91–$5.26 billion), citing declining sales and asset impairments across key markets. The company is undergoing major restructuring, including job cuts and reduced production capacity, as it grapples with weak demand in the U.S. and China. New CEO Ivan Espinosa is leading efforts to turn the company around, with a focus on financial recovery and potential new partnerships, including outside its current alliance with Renault and Mitsubishi. Full-year results are due May 13.
Nikkei Asia: https://asia.nikkei.com/Business/Automobiles/Nissan-sees-record-yearly-loss-of-around-5bn
