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Weekly Japanese Industry and Policy News (Jan. 20-Jan. 26, 2023)

The EU-Japan Centre is pleased to start a new weekly service by publishing brief summary of the latest information from the Japanese governmental organizations & private companies/organizations. A couple of minutes reading to be informed about what is happening in Japan's policy, economy, EU-Japan relations, and innovation.

*Information is deemed correct at the time of release. 

2022 trade deficit hits record high of JP\ 19.9 trillion impacted by higher resource prices and weaker JP\
According to the trade statistics (preliminary report, customs clearance basis) released by the Ministry of Finance on January 19, the annual trade balance in 2022 was in the red at JP\ 19.9713 trillion. The amount of the deficit exceeded the deficit of 2014 (JP\ 16 trillion) after the Great East Japan Earthquake in 1979, from which comparisons can be made, and reached a new record high. Imports increased significantly due to the historically weak of JP\ and high resource prices. The import value increased by 39.2% from the previous year to JP\ 118.1573 trillion, surpassing the JP\100 trillion mark for the first time and the highest ever. In addition to the rise in resource prices against the backdrop of Russia's invasion to Ukraine, etc., the historic depreciation of the JP\ to the 1 dollar = JP\ 150 level at one point affected. Exports also increased by 18.2% year-on-year to JP\ 98.186 trillion, a record high, but the growth in imports exceeded that. By item, the import value of crude oil increased by 91.5% from the previous year, coal increased by 178.1%, and liquefied natural gas increased by 97.5%. In terms of export value, automobiles increased by 21.4%, and steel increased by 24.2%. By country/region, imports from China increased by 21.8%, and the trade balance deficit was JP\ 5,827.1 billion, the first increase in three years. It had a surplus of JP\ 6.5356 trillion with the United States, a deficit of JP\ 2.161 trillion with the European Union (EU), and a surplus of JP\ 2.7799 trillion with Asia as a whole.

MOFA website: https://www.customs.go.jp/toukei/shinbun/trade-st_e/2022/2022_114e.pdf

Trade ministers’ coalition meeting on climate change was held
On January 19, the EU, Ecuador, Kenya, and New Zealand hosted the Trade Ministers' Coalition Meeting on Climate Change and from Japan Minister of Economy, Trade and Industry Nishimura attended. At the meeting, a joint statement was issued by 27 participating countries and regions on priority items for contributing to climate change countermeasures from the trade side. In the joint statement, 1) International cooperation and concerted actions to promote trade policies that contribute to climate action in the WTO and other organizations, 2) Identification of initiatives for the multilateral trading system to contribute to global responses to climate change 3) Promote trade and investment in goods, services and technologies that contribute to climate change mitigation and adaptation, 4) Identify trade strategies that support the most vulnerable developing countries and LDCs, 5) Building relationships with climate and financial actors and stakeholders to promote concrete climate action, were confirmed.

METI website: https://www.tradeministersonclimate.org/_files/ugd/214b22_2deaddadf2fa43908539a4a6623451d8.pdf

The government aims to enact the GX promotion bill in the current Diet session
The government of Japan has decided to submit a bill to the current Diet session to implement a series of GX-related policies, aiming for carbon neutrality in 2050. This bill was discussed by the GX Implementation Council (members: the cabinet office, METI, MOE, MOFA, and MOF) chaired by the Prime Minister and it was opened for public comment from December last year. The new law includes (1) formulation and implementation of the "GX Promotion Strategy" (2) issuance of "GX Economic Transition Bonds" (3) introduction of a carbon charge (4) establishment of the "GX promotion organization" responsible for this (5) progress evaluation and review. Realization of GX will require more than JP\ 150 trillion in public and private investment over the next 10 years. And as an invitation method to promote the private investment, a total of JP\ 20 trillion “GX Economic Transition Bond (provisional name)” will be issued. For 10 years from 2023, it will be issued the amount within the amount approved by the Diet every fiscal year.

Cabinet secretariat website: https://www.cas.go.jp/jp/seisaku/gx_jikkou_kaigi/dai5/siryou1.pdf

Kawasaki Heavy Industries and Total Energies of France succeeded in sea test of Autonomous Underwater Vehicle (AUV)
Kawasaki Heavy Industries, Ltd. announced on January 12 that it has successfully conducted a sea test for anti-corrosion potential measurement in a close inspection of a submarine pipeline using an autonomous underwater vehicle (AUV) in collaboration with Total Energies of France. Focusing on the increasing demand for maintenance of subsea pipelines in the oil and gas field, the company launched the world's first AUV "SPICE" (Subsea Precise Inspector with Close Eyes) using a robot arm for subsea pipeline inspection. On the other hand, Total Energies made a proposal to build an integrated system with its anti-corrosion potential measurement technology called "LTCP (Light Touch Cathodic Protection)", and both started a joint research project in October 2020. The result this time demonstrated that SPICE can be used to automate and speed up pipeline proximity inspections, which are conventionally performed by ROVs (Remotely Operated Vehicles), including anticorrosion potential measurements. 

Kawasaki Heavy Industries website: https://global.kawasaki.com/en/corp/newsroom/news/detail/?f=20230112_2933

Four Companies announced joint feasibility study of large-scale and wide-area CCS value chain project using ship transportation
ITOCHU Corporation, Mitsubishi Heavy Industries, INPEX and Taisei Corporation announced January 26 that they signed a memorandum of understanding of a joint study to examine the feasibility of a large-scale wide-area CCS value chain business using ship transportation for carbon-emitting businesses in Japan. In the future, the four companies will jointly make separation/ collection/ shipment/ shipping /storage separate CO2 emitted from industries such as materials industries, which are assumed to be difficult to achieve decarbonization through electrification and hydrogenation alone ("Hard-to-Abate industries"). In addition, they also plan to select candidate sites for CO2 storage in Japan. CO2 underground storage technology "CCS" which has been put into practical use overseas, and in Japan there is an example of experimental storage in Tomakomai City, Hokkaido. However, in oil-producing countries, it is easy to find a suitable site because CO2 can be put into the stratum after extracting the oil, but in Japan, where oil fields are scarce, it is necessary to start by searching for a suitable site.

MITSUBISHI HEAVY INDUSTRIES website: https://www.mhi.com/news/23012602.html

Mitsubishi Heavy Industries successfully launches H2A rocket equipped with information gathering satellite
Mitsubishi Heavy Industries announced on January 26 that it had successfully launched the 46th domestically produced rocket "H2A". The rocket equipped with the information gathering satellite radar No. 7 of the Cabinet Satellite Information Center ascended to a predetermined orbit, and the separation of the satellite from the rocket was confirmed. H2A boasts the world's highest level of launch success rate and "on-time rate" that can be launched on time. With this success, the success rate was 97.8% and the on-time rate was 82.6%. However, in October 2022, the launch of the solid-fuel rocket "Epsilon" failed. Attention was focused on the results of the launch in order to maintain the high reliability of Japanese rocket technology. H2A, which launched the first unit in 2001, plans to end with the 50th unit in the future. The Japan Aerospace Exploration Agency (JAXA) will launch its next-generation satellite "H3" for the first time on February 12. The H3 will be able to carry heavier satellites than the H2A. The launch price will also be cut in half. Until now, it took about two years from receiving an order for a satellite to launch, but this will be shortened to about one year.

MITSUBISHI HEAVY INDUSTRIES website (in Japanese): https://www.mhi.com/jp/news/23012604.html

Electric kickboard, no license required from July 1, can be ridden on "sidewalks" at speeds of 6 km/h or less
In Japan, the number of traffic accidents caused by electric kickboard is increasing and it has become a social problem. But the National Police Agency decided that it would be allowed to ride an electric kickboard without a driver's license. It will start on July 1. The National Police Agency announced on January 19 and it has started collecting public comments. The revised Road Traffic Law, which comes into force on July 1, will allow anyone over the age of 16 to ride an electric kickboard that is about the same size as a bicycle and has a maximum speed of 20 kilometers or less, even without a driver's license. As a general rule, electric kickboards can only be driven on roads. While driving, it is necessary to "light up" the green lamp installed on the board. On the other hand, if the speed is 6 km / h or less, it’s possible to ride on the "sidewalk". In this case, however, the green light must be set to "blink". Wearing a helmet while driving is an obligation, and violations such as using a mobile phone or driving under the influence of alcohol are subject to fines. 

National Police Agency website (in Japanese): https://www.npa.go.jp/news/release/2023/20230117001.html

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