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Subaru Scales Back EV investment, Prioritizes Hybrids in $9.7bn Plan

TOKYO – Subaru Corporation is recalibrating its 1.5 ⁣trillion yen ($9.74 billion) electrification strategy, reducing investment in battery electric vehicles (BEVs) ‌and redirecting funds toward hybrid technologies.‍ The move comes as​ automakers worldwide assess shifting consumer preferences and evolving government support for electric vehicle adoption.

the Japanese automakerS decision reflects a broader industry trend ⁣of tempering initial EV ambitions amid slower-than-expected demand growth in some markets. Subaru, notably ​sensitive to potential U.S. ⁢tariffs due to importing roughly half its U.S.vehicle volume from ⁢Japan,is adapting to a landscape where hybrids currently offer a more appealing balance of⁣ fuel⁣ efficiency and affordability ⁣for many buyers.

This strategic shift acknowledges the current market realities, where consumer demand for fully electric vehicles isn’t⁢ keeping pace with earlier projections. ​The ⁣company intends‍ to allocate more resources​ to hybrid technologies, which are gaining traction as⁤ a practical stepping stone toward⁤ full electrification. the revised plan aims to address ​both immediate consumer needs and long-term sustainability goals.

Seiya Ota of Nikkei Asia reported the news on November 11, 2023.

Dogo‍ Onsen & Kuma Skiland Launch Direct Bus Link to Boost Winter Tourism

MATSUYAMA, Japan – ⁢A new direct bus route connecting Japan’s historic Dogo Onsen hot spring with the⁢ Kuma Skiland ski resort will launch this⁤ winter,‍ aiming to capitalize on⁢ a surge in domestic ski tourism. The service, set to begin operations in December, will reduce travel time between ‌the two popular destinations to ⁤approximately one hour.

The initiative seeks to draw skiers adn snowboarders to Ehime Prefecture’s Kuma ‌Skiland while together offering onsen enthusiasts a convenient⁣ winter getaway.Approximately 40,000 visitors frequent Kuma Skiland each ski season.‍ The link is designed to broaden the appeal of both locations, creating a combined⁤ tourism ​experience and‍ perhaps extending the ‌visitor season beyond traditional ⁢peaks. Kuma Kogen Kaihatsu,⁢ the operator​ of Kuma Skiland, anticipates increased patronage with the improved accessibility. The bus ⁣route ‍is a key component of a broader⁤ regional​ strategy to attract visitors and stimulate the local economy.

Third Point Builds Stake in Japanese Manufacturer Ebara

TOKYO – Daniel Loeb’s Third Point has initiated a position in Ebara Corporation, a Japanese precision machinery and‌ engineering company, the⁤ U.S.-based hedge fund ‌disclosed in a ​recent investor letter. The move signals third Point’s renewed ​interest in Japanese​ equities after a period of reduced activity in the region.

this investment comes as Third Point identifies potential ‌for Ebara, a key supplier to the semiconductor ⁢industry, to increase its market share and improve profitability. The hedge fund believes Ebara ‍currently trades at a discount compared to its American counterparts,​ presenting an​ opportunity for ​value creation. Ebara manufactures a range of products including pumps, compressors, and environmental equipment, with a growing focus on semiconductor manufacturing⁣ equipment. ​

Third Point’s return⁤ to⁤ Japan underscores a broader trend of activist ⁤investors targeting undervalued companies in the country, encouraged by recent corporate governance reforms. The fund’s strategy typically involves engaging‌ with ​management to​ implement operational improvements and ​unlock shareholder value.It remains to be seen what specific changes ‌Third Point will advocate ⁤for⁣ at⁢ Ebara, but the investment suggests an expectation of active​ involvement.

Malaysia Champions Regional Unity at ASEAN Defense Summit Amidst Great⁢ Power ​Competition

KUALA LUMPUR ⁤- Malaysia ⁣concluded its ⁣hosting of a two-day ASEAN defense ministers​ meeting on‍ Saturday,advocating for a⁢ prioritized “ASEAN first” approach to regional⁤ security as ⁢the United ⁤states,China,and other ‍partner nations participated in the summit.Defense Minister Mohamed⁢ Khaled Nordin spearheaded the call for ​greater regional solidarity, ​signaling ⁢a desire for ⁤the 10-member bloc to navigate increasing geopolitical tensions independently.

The push for an “ASEAN first” strategy comes as the region ⁤finds itself ⁢a key arena in the ⁢strategic competition between the U.S.​ and China. The summit provided ‍a platform for dialogue amidst​ these rivalries, with Malaysia ⁢positioning ASEAN as central to maintaining stability ‍and‍ addressing shared security challenges. The⁢ meetings⁢ underscore the ​growing importance of ​ASEAN’s role in shaping⁣ the ⁢regional security architecture and its efforts to remain neutral ⁤while fostering cooperation with⁤ major powers.

The meeting,held⁢ november 1-2,2024,brought together defense ‌leaders from across Southeast Asia,alongside representatives from countries including the U.S. and China, to discuss ⁢pressing issues such as maritime security, counter-terrorism, and⁤ humanitarian assistance.Nordin’s emphasis on ASEAN⁣ centrality reflects a broader ambition for the bloc to proactively address regional‌ concerns‍ and ‍avoid ​being⁣ caught in​ the crosscurrents of larger power dynamics.

GYEONGJU, SOUTH KOREA – Discussions at‌ the ⁣Asia-Pacific Economic ‌Cooperation‌ (APEC) summit‍ are‍ progressing ⁢toward consensus on a declaration, ‌though whether the ‍term “free trade” will⁤ be included remains uncertain, South Korean Foreign ⁢Minister ‌Cho‍ Hyun⁣ said Friday. ⁣South⁤ Korea is hosting APEC​ for the first time in two decades and‍ is mediating to ensure ⁤an agreement‌ on ‍the Gyeongju Declaration.

The ​summit comes ‍amid potential‍ disagreements ‍between the U.S. and​ other member economies ​regarding multilateralism in trade, according to analysts. “The point of contention is probably‌ that… there are many member economies which⁤ say ‘we should strengthen ‍the multilateral system ‌and bolster the multilateral framework,'” explained ⁣Lee Jae-min, professor​ of international law at Seoul National ⁢University School of Law. “However, the U.S.,along with some nations sharing a similar stance,may have reservations about‍ pushing it too hard.”

Alongside bilateral meetings, Chinese President⁤ Xi ​Jinping on Friday presented a five-point‌ proposal for promoting inclusive economic globalization and building an Asia-Pacific community, emphasizing safeguarding the multilateral trading system, fostering⁣ an open regional economic environment, ⁤stabilizing supply chains, promoting digitalization and green ⁤trade,⁢ and prioritizing universally beneficial development.

Leaders are⁤ currently engaged in a lunch with​ buisness leaders following a CEO summit held this week in Gyeongju. Spouses of the leaders were⁣ earlier taken on a tour of the city.

Tokyo Braces for ‌Potential Summer Power Strain as Capacity⁤ dwindles

TOKYO – The Greater Tokyo Area faces a heightened risk⁣ of electricity supply constraints next summer due to the scheduled retirement of older power generation facilities, according to goverment projections released Friday. ⁣The forecasts‌ signal a potential challenge to maintaining stable power during peak demand⁣ periods, notably as temperatures rise.

The anticipated shortfall stems from the decommissioning of aging thermal power plants,⁣ a consequence of both their operational lifespan adn evolving environmental regulations. This situation raises concerns for millions of residents and businesses in the ‌Tokyo metropolitan area, which relies heavily on consistent electricity access⁣ for daily life and economic activity. Government ‌officials are now focused on bolstering reserve capacity‍ and promoting energy conservation measures​ to mitigate the potential impact.

The forecasts⁣ indicate that the margin⁣ between ⁣peak demand and available supply could be tighter than usual, prompting calls for increased ⁢preparedness. While no immediate shortfall is predicted​ for the upcoming winter ​months, the summer months represent ⁣a critical period due ⁣to the widespread use of air ⁢conditioning.

Officials are urging both ⁢consumers and‍ businesses ‍to adopt energy-saving‍ practices and are exploring options to increase ‍power generation⁣ capacity, including potentially reactivating⁣ some older plants⁣ or accelerating the deployment of renewable energy sources.Further details regarding specific capacity figures and contingency plans are expected to ⁢be released in the ‌coming weeks.