The SoftBank Group, which had a final deficit of more than 3 trillion yen in its financial results from April to June, announced that it would sell part of its shares in Alibaba Group, China's largest online retailer. The aim is to strengthen the financial base, and as a result, it will be removed from the SoftBank Group's affiliates.

The SoftBank Group’s financial results for the entire group from April to June this year resulted in a significant deficit of 2,162.7 billion yen in final profit and loss. This was mainly due to the recording of valuation losses on the stocks of investees held in response to the slump un the global stock market.

The amount of money spent on leisure activities during this summer vacation is about 68,000 yen per household due to the increase in the number of people going on trips, and the survey results show that the new corona will recover to the level before the spread of infection.

As part of countermeasures against rising prices, the government has set aside the costs necessary to introduce a system that gives points to households that have saved a certain amount of electricity, and a system that subsidizes part of the price of fertilizer for farmers. We have decided to spend more than 250 billion yen from the reserve fund for the fiscal year.

The Ministry of Finance held a meeting of directors of the Treasury Bureau on the 27th, leaving the nation's economic judgment as "gradually picking up."

The Bank of Japan decided to maintain the current large-scale monetary easing policy at the monetary policy meeting held until the 21st, while the Central Bank of Europe decided to raise interest rates for the first time in 11 years.

After the House of Councilors election, the Kishida Cabinet intends to proceed with the overall concept of “new capitalism” and the concrete measures of “the bold policy” decided by the Cabinet in June.

US Federal Reserve Chairman, Powell, who made an unusually large rate hike last week, said in a parliamentary testimony on 22nd June that “price stability is absolutely necessary” and will accelerate monetary tightening.

The government held a meeting of experts in economic security to discuss the direction for fostering important advanced technologies such as AI (Artificial intelligence and quantum).

The yen is depreciating further in the Tokyo foreign exchange market. The yen exchange rate has fallen to the mid-134 yen level per dollar, and the yen have been depreciating for the first time in 20 years and 4 months since February 2002.

The World Bank has revised down its global economic growth outlook to 2.9%, 1.2 points lower than the previous prediction. it warns that Russia's invasion of Ukraine poses a risk of "Stagflation," in which prices rise and the economy slows at the same time.

It was found that Sumitomo Mitsui Trust Bank is making final adjustments to raise wages this year by an average of about 4.5%, including base increases. This is the first time in seven years to take into account of the rise in domestic prices.