AGP Executive Report
Last update: 6 hours agoBackup Capital: A new law lets Japan designate one or more secondary capitals to keep government and economic functions running after a major disaster and reduce Tokyo’s dominance. Hokkaido, Aichi, Osaka and Fukuoka are interested; the government plans to outline the process in November. Diet Reform: The LDP, Japan Innovation Party and Democratic Party for the People agreed to propose cutting 31 Lower House proportional-representation seats, reducing the chamber from 465 to 434. Prices and Rates: The Bank of Japan held its policy rate at 1.25% but signaled further hikes as Tokyo’s core inflation reached 2.6% in October. Prime Minister Sanae Takaichi also said gasoline subsidies will be gradually reduced from December, while electricity and gas support resumes through February. Security Ties: Japan and the United States agreed to establish a facility in Japan to assemble AMRAAM air-to-air missiles. Japan’s foreign minister is also due to meet U.S. and South Korean counterparts to discuss North Korea’s missile launches and trilateral coordination.
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