Yen-buying intervention hits record ¥15.4 trillion, including first coordinated intervention with U.S. in 15 years

The Ministry of Finance announced that yen-buying intervention from July 30 to August reached a record ¥15.4 trillion, and that it also conducted a coordinated intervention with the United States for the first time in 15 years. The FY2027 budget request saw national debt service swell to a record ¥36.6 trillion, bringing the total to ¥38.7 trillion. The government allocated ¥147.8 billion from reserve funds for Kumamoto earthquake reconstruction and decided on the Kyushu Support Discount, while during a visit to China by ruling and opposition lawmakers, the Chinese side took a hard line over the Taiwan issue.

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Yen-buying intervention hits record ¥15.4 trillion, first coordinated intervention with U.S. in 15 years The intervention amount for July 30 to August announced by the Ministry of Finance on the 28th exceeded the previous record of ¥11.73 trillion and also surpassed market expectations of ¥11–12 trillion. On July 31, during New York hours, it conducted a coordinated intervention with the United States for the first time in 15 years; the dollar briefly plunged to the lower 155 yen level, but later recovered to the 159 yen level. 1 2

FY2027 budget request ¥38.7 trillion, national debt service hits record ¥36.6 trillion The FY2027 budget request announced by the Ministry of Finance on the 28th has a general account total of ¥38.6948 trillion, up 15.1% from the initial FY2026 budget. With the long-term interest rate assumption raised to 3.8%, national debt service rose 17.1% to ¥36.6386 trillion, a record high, further intensifying concerns over fiscal deterioration. 3

¥147.8 billion from reserves for Kumamoto earthquake recovery, Kyushu Support Discount to boost tourism demand On the 28th, the government decided on restoration and reconstruction support measures for the Kumamoto earthquake and will spend ¥147.8 billion from the FY2026 reserve funds. From October, it will implement the "Kyushu Support Discount," which discounts accommodation and travel costs in Kyushu's seven prefectures, with Kumamoto and Kagoshima eligible for discounts of up to 60%. 4 5

Heated exchanges during ruling and opposition lawmakers' China visit; China demands concessions on Taiwan issue The delegation, consisting of one Liberal Democratic Party lawmaker and two opposition lawmakers, sought to improve relations in Beijing, but there were reportedly "many heated exchanges" over the Taiwan issue. The Chinese side said, "If you do not change your statements and perceptions regarding Taiwan, China's position will not change," and did not soften its hard-line stance. 6

PM Takaichi tells disability group she will 'firmly confront eugenic ideology' but does not respond to anti-military-expansion calls On the 27th, the group "Sayonara Eugenics: Women with Disabilities" met with Prime Minister Sanae Takaichi at the Prime Minister's Office and handed her letters from 114 people with disabilities. The Prime Minister stressed that she would "resolutely confront eugenic ideology," but in response to arguments against military expansion, she retorted, "Can the lives and territory of the people be protected without resistance?" The group expressed dissatisfaction with the speaking time and the content of her remarks. 7

72-year-old South Korean arrested for 26-year illegal stay after entering on 15-day tourist visa A 72-year-old South Korean man living in Yaizu, Shizuoka Prefecture, was arrested for entering Japan in 1993 on a 15-day tourist visa using his younger brother's passport and staying illegally for more than 26 years. He is suspected of illegal overstay since February 2000, and the man has admitted to working as a day laborer. 8