Kyodo News Digest: May 19, 2024
KYODO NEWS
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1 hour ago - 20:13 | All, World, Japan
A traditional outdoor Noh play is performed at Kofuku Temple in the ancient capital of Nara, western Japan, on May 17, 2024. (Kyodo) ==Kyodo
The following is the latest list of selected news summaries by Kyodo News.
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Japan's Norinchukin Bank mulls 1 trillion yen capital increase
TOKYO - Japan's Norinchukin Bank is considering a capital increase of about 1 trillion yen ($6.4 billion) to bolster its financial standing that is undermined by unrealized losses from its holdings of overseas bonds, including U.S. Treasuries, a source familiar with the matter said Sunday.
Norinchukin will discuss the matter with its main investors such as the Japan Agricultural Cooperatives, as it could post a net loss of around 500 billion yen in the year ending March 2025 due to the disposal of the unrealized losses.
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Japan foreign minister retracts controversial childbirth remark
SHIZUOKA, Japan - Japanese Foreign Minister Yoko Kamikawa on Sunday retracted her remark the previous day about the importance of women's giving birth, saying her choice of words was liable to cause misunderstanding.
In a campaign speech in support of a Shizuoka gubernatorial election candidate, Kamikawa questioned the worth of women who do not give birth.
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Japan cram school creates AI detection system for university applications
TOKYO - A Japanese cram school has developed a system to detect whether generative artificial intelligence has been employed in the composition of personal statements by high school students applying for university, amid growing concern over the improper use of such tools.
The system developed by Kawaijuku Educational Institution combs through statements submitted for admissions processes that are placing greater emphasis on grades, essays and interviews rather than relying solely on traditional entrance examinations.
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Locals in central Japan near Mt. Fuji count on UFO craze for tourism
KOFU, Japan - Local residents in Yamanashi Prefecture, at the foot of Mt. Fuji, are striving to make their city Kofu a tourist magnet with extraterrestrial help from an alien.
Next year marks the 50th anniversary of an incident in which two elementary school children claimed to have encountered unidentified flying objects and an alien. It is dubbed one of "three major UFO incidents" reported in Japan.
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Football: Machida thrash Verdy to go top of J-League
MACHIDA, Japan - Machida Zelvia returned to the top of the J-League first-division table with a 5-0 thrashing at home to Tokyo Verdy on Sunday.
In a clash between the teams that played in the second division last season, Shota Fujio scored a brace and caused an own goal at Machida Gion Stadium.
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Sumo: Hoshoryu drives Ura from Summer tourney lead
TOKYO - An overpowering display from ozeki Hoshoryu knocked No. 4 maegashira Ura out of the Summer Grand Sumo Tournament lead on Sunday.
The midpoint of the 15-day meet at Tokyo's Ryogoku Kokugikan began with five wrestlers tied for the lead and ended with just two men at the top sporting 7-1 records.
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Rugby: Brave Lupus beat Sungoliath 28-20, advance to League One final
TOKYO - Brave Lupus Tokyo fought back from an early deficit to book their place in the Japan Rugby League One championship decider with a 28-20 semifinal win over Tokyo Sungoliath on Sunday.
The Todd Blackadder-coached Brave Lupus, the No. 2 team in the regular season, turned the tide in the second half at Prince Chichibu Memorial Rugby Ground with tries from Takeshi Sasaki, Shannon Frizell and Jone Naikabula.
Video: "Mikoshi" portable shrine parade in Tokyo's Asakusa

1 hour ago
| KYODO NEWS
Japan's Norinchukin Bank mulls 1 trillion yen capital increase
KYODO NEWS
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2 hours ago - 19:40 | Japan, All

Japan's Norinchukin Bank is considering a capital increase of about 1 trillion yen ($6.4 billion) to bolster its financial standing that is undermined by unrealized losses from its holdings of overseas bonds, including U.S. Treasuries, a source familiar with the matter said Sunday.
Norinchukin will discuss the matter with its main investors such as the Japan Agricultural Cooperatives, as it could post a net loss of around 500 billion yen in the year ending March 2025 due to the disposal of the unrealized losses.
The bank is likely to use subordinated loans, which have a lower repayment priority and count as capital, while foreign bonds with unrealized losses will be sold and replaced with more profitable assets. Its capital stood at 4.04 trillion yen at the end of December 2023.
Norinchukin has focused on investing in U.S. Treasuries, which have higher yields than Japanese government bonds. Since March 2022, however, the United States had been raising interest rates at a rapid pace to counter inflation.
As the prices of bonds fall as yields rise, the unrealized losses in U.S. Treasuries and other bonds purchased by Norinchukin have increased to approximately 1.9 trillion yen.
Compared with domestic megabanks and other financial institutions, Norinchukin has smaller loans and a higher ratio of foreign bonds in its securities portfolio. Its earnings are more susceptible to repeated interest rate hikes by central banks.
Norinchukin also suffered losses following the 2008 global recession, and in 2009 increased its capital by over 1.9 trillion yen.
==Kyodo
2 hours ago
| KYODO NEWS
Japan foreign minister retracts controversial childbirth remark
KYODO NEWS
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6 hours ago - 14:40 | All, Japan
Japanese Foreign Minister Yoko Kamikawa on Sunday retracted her remark the previous day about the importance of women's giving birth, saying her choice of words was liable to cause misunderstanding.
In a campaign speech in support of a Shizuoka gubernatorial election candidate, Kamikawa questioned the worth of women who do not give birth.
Japanese Foreign Minister Yoko Kamikawa speaks to reporters in Shizuoka, the capital city of Shizuoka Prefecture, on May 19, 2024. (Kyodo)
"I sincerely accept the view that (my words) could cause my true intention to be misunderstood so I retract them," Kamikawa told reporters, adding she meant to ask female voters to exercise their power.
Kamikawa, who represents a Shizuoka constituency as a House of Representatives member, was making a speech in support of the candidate backed by the ruling Liberal Democratic Party.
Osaka Seiji, executive deputy president of the main opposition Constitutional Democratic Party of Japan, on Saturday criticized Kamikawa's remark as insensitive.
Related coverage:
Japan minister queries women's worth without birth in election speech
May 19, 2024
| KYODO NEWS
Locals in central Japan near Mt. Fuji count on UFO craze for tourism
KYODO NEWS
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6 hours ago - 14:30 | All, Japan, Travel/Tourism
Local residents in Yamanashi Prefecture, at the foot of Mt. Fuji, are striving to make their city Kofu a tourist magnet with extraterrestrial help from an alien.
Next year marks the 50th anniversary of an incident in which two elementary school children claimed to have encountered unidentified flying objects and an alien. It is dubbed one of "three major UFO incidents" reported in Japan.
Radio personality Kiichi Tokutake is among a group of people organizing events to celebrate the anniversary and boost the city's appeal. "I want to make Kofu a mecca for UFO enthusiasts," he said.
A person dressed as the "Kofu alien" (C) strikes a pose at an event on Feb. 23, 2024, in Kofu, Yamanashi Prefecture, known for an alleged UFO sighting in 1975. (Kyodo)
Tokutake's passion grew after he was told by a guest during his show that the UFO sighting in Kofu had recently grabbed attention among some overseas enthusiasts.
The alleged incident dates back to Feb. 23, 1975, when two boys playing near a vineyard in Kofu saw what they described as two saucer-shaped UFOs flashing in orange at around 6:30 p.m. They said a 120- to 130-centimeter tall alien with a big head, long ears and three fangs then descended, according to Tokutake. The alien reportedly had a brown face with no eyes or nose.
The boys left the scene to call their family. When they returned, the objects started blinking and glared briefly before disappearing. Their family and local residents provided similar descriptions.
Feb. 23 is now registered as Kofu UFO Day by the Japan Anniversary Association, an organization that registers anniversaries for companies, groups and individuals.
"It scared the life out of me back then," Katsuhiro Yamahata, who was one of the two boys, recalled at a February event marking the 49th year since the sighting.
Local organizers are planning to erect a monument at the site. "My hope is visitors interested in the UFO (incident) will take a liking to the city of Kofu and its people," Tokutake said.
The other two sightings were reported in Kochi Prefecture in 1972 and in the country's northernmost prefecture of Hokkaido in 1974.
Other places seeking to draw visitors with the stories of alleged UFO sightings include Hakui of Ishikawa Prefecture, central Japan, and the Iinomachi area in Fukushima in the country's northeast.
In the United States, known for UFO-related incidents like one in Roswell, a Department of Defense report released in March concluded that there was "no evidence" that UFO sightings for decades represented "extraterrestrial technology."
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May 19, 2024
| KYODO NEWS
Japan cram school creates AI detection system for university applications
KYODO NEWS
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7 hours ago - 14:20 | All, Japan