
AI-generated summary
Japan relies on foreign countries for most of its fertilizer raw materials, which are the basis of agriculture, and the Strait of Hormuz crisis has exposed this vulnerability.
The Strait of Hormuz crisis showed not only the supply of energy and chemicals, but also how the foundations of global food production have relied on limited choke points. How can Japan, which relies on foreign countries for most of the fertilizer raw materials that form the basis of agriculture, protect itself?
June 19th, the world was excited about the Soccer World Cup. Norikazu Suzuki, Minister of Agriculture, Forestry and Fisheries, visited the major supermarket Carrefour in Paris to promote Japanese food, and headed to the airport the same day. The destination was Morocco in North Africa.
Initially, he was only supposed to be the top seller of Japanese food in France. In response to the closure of the Strait of Hormuz in early spring, he added a visit to Morocco at short notice. At the site, he met with Mustafa Tellab, chairman of Morocco's Royal Phosphate Mineral Corporation (OCP), and Ahmed El Bouari, Minister of Agriculture. They toured a phosphate rock processing plant.
This article introduces new efforts to reduce Japan's dependence on foreign countries, as Japan relies on imports for most of its fertilizer raw materials.
Morocco is the raw material for making fertilizer...
AI outlook — possibilities, not facts
Formal talks begin between Japan and Morocco regarding phosphate rock supply
Likely · Within weeks

Due to the global matcha boom, the shipping price of tencha rose to 8,562 yen per kilogram last year, 2.6 times higher than the previous year. In Kagoshima Prefecture, tea farmers are accelerating the transition from sencha to tencha, but the drastic decline in sencha production has meant that the daily act of making tea could become a luxury.

Nana's Green Tea, a matcha cafe chain that has been in business for 25 years, has 63 stores in Japan and 20 stores overseas. Overseas sales in fiscal 2024 will increase by approximately 71% compared to the previous year, and will increase by approximately 16% in fiscal 2025. The first directly managed flagship store in North America will open in Pasadena, Los Angeles in May 2026, and on the first day there was a two-hour line. The global matcha market is expected to grow to approximately 710 billion yen in 2025 and approximately 1.33 trillion yen in 2034. North America will account for 37.2% share in 2025. We asked Hitoshi Kutsuami, president of the operating company Nanaba, about its differentiation strategy and chances of success in overseas expansion.

Yodobashi Camera's online shopping site ``Yodobashi.com'' has become a hot topic on social media for its ``order online, pick up at store'' service that can be used even late at night. Some stores offer 24-hour pick-up, and we have received many specific stories from users, such as the quiet in-store pick-up experience and the consideration given to security.

Norges Bank Investment Management (NBIM) announced that it will raise its holdings in Japanese government bonds from the current 4.6% to 7.4%. The aim of this move is to diversify investment targets, and if implemented, it would increase the equivalent of approximately $17 billion (2.7 trillion yen), potentially leading to a rise in Japan's long-term interest rates and a depreciation of the yen. On the other hand, the allocation to US bonds and euro area government bonds is expected to be lowered, and the overall share of government bonds is expected to be reduced from 70% to 50%.

U.S. Treasury Secretary Bessent stated at the G20 meeting that Japan should stop continuing its reflationary policy (fiscal expansion and monetary easing), acknowledging the success of Abenomics but pointing out the current inflation risks. Concerned that the rise in Japan's long-term interest rates will spread to the United States, the Bank of Japan is urging the Bank of Japan to raise interest rates early. He expressed his dissatisfaction with the aggressive fiscal stance of the Takaichi administration and explained the relationship between US inflation countermeasures and interest rate policy.

According to August employment statistics released by the U.S. Department of Labor, the seasonally adjusted number of non-agricultural workers rose by 162,000 from the previous month, significantly exceeding market expectations for an increase of 56,000. The unemployment rate was 4.1%, the same level as last month. By industry, leisure-related and local government education sectors turned positive, while information-related jobs decreased by 23,000.