69,042.11Nikkei 225 · Oct. 8 close · second straight loss (−993.60, −1.42%), ended at the day's low

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¥157.86Dollar-yen · Oct. 9, early morning · yen 18 sen stronger on the day
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, FRI., OCT. 9, 2026No. 5 · Morning, 6:00 a.m. JST6 a.m. JST
Nikkei 22569,042.11▼1.42%10/8TOPIX—USD/JPY157.86▼0.18 JPY10/9S&P 5007,765.36▼0.47%10/8WTI$91.49▲3.62%10/8Gold$4,156.90▲0.24%10/8
World · EnergyPress ✓ 5 outlets · price from CNBC, ship count from Kpler tally, foreign minister's remarks from Asahi alone

Brent Crude Climbs 4% Into the $104 Range as Tanker Attacks Continue at Hormuz; 11 Countries Including Japan Agree to Bolster Reserves

Tension in the Middle East pushed oil up another step. Trump's “no attack before the election” narrowed the gain, but ships have not fully returned to the strait. In Manila, Japan and other Asian countries lined up on reserves.

In oil trading on Oct. 8, North Sea Brent futures, the international benchmark, closed up about 4% from the previous day at $104.28 a barrel, and U.S. WTI futures closed up 3.6% at $91.49 (CNBC). Iran has stepped up attacks on tankers passing through the Strait of Hormuz. CNBC, citing a tally by data firm Kpler, reported that nine ships were attacked around the strait in the past week. Oil leaving the strait in the week to the 6th came to 9.5 million barrels a day, about 30% less than before the war. In the U.S. Gulf of Mexico, about a quarter of production was shut in as Hurricane Isaias approached. The day before, the Houthis, a pro-Iran armed group in Yemen, attacked two airports in Saudi Arabia, killing three people, and Lufthansa and others suspended Riyadh flights (Reuters, NHK). Japan relies on the Middle East for more than 90% of its imported crude. In the Tokyo foreign exchange market on the 8th, the yen was sold on expectations that higher oil would push up prices (NHK). Corporate bankruptcies in the first half of this fiscal year came to just over 5,300, topping 5,000 for a second straight year, and NHK cited rising input costs from the Middle East situation and the weak yen as the background. The price of oil has already reached the ledgers of Japan's small businesses.

What narrowed the gain was a post by U.S. President Donald Trump. On the 8th he wrote on social media, “I will not attack Iran before the Nov. 3 midterm elections,” and also claimed that “productive talks” are under way (NHK, Reuters). The day before, U.S. media had reported that the Pentagon had ordered preparations to resume attacks. According to the Asahi Shimbun, Iran's foreign minister said he would “respond within days” to indirect talks with the United States over the Strait of Hormuz. Also on the 8th, ministers from the 11 countries of the Asia Zero Emission Community (AZEC), led by Japan, met in Manila and agreed to study a framework to strengthen oil reserves and carry out a coordinated release in an emergency (NHK). What was adopted was a work plan to strengthen reserves; the conditions and volumes for a release have not been decided. How countries build up their stocks and how neighbors support those that fall short is yet to be worked out. A vice minister of economy, trade and industry explained that Saudi Arabia and the United Arab Emirates had shown willingness to cooperate in building Asian reserves. The same day, the United States imposed new sanctions on Iran's “shadow fleet” (Reuters).

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By the numbers
$104.28North Sea Brent futures' Oct. 8 close. Up about 4% on the day (CNBC)
9 shipsTankers attacked around the Strait of Hormuz in the past week (Kpler tally)
11 countriesCountries that attended the AZEC ministerial meeting in Manila and agreed to strengthen reserves
Economy · BusinessPress ✓ 4 outlets · figures from the company, world ranking from press estimates

Fast Retailing Posts Record Net Profit of ¥542.5 Billion; Uniqlo Passes H&M to Rank No. 2 Worldwide

Fast Retailing announced consolidated results for the fiscal year ended August 2026 on the 8th. Its revenue rose 16.6% from the previous year to ¥3.9633 trillion, operating profit rose 31.7% to ¥743.1 billion and net profit rose 25.3% to ¥542.5 billion, all records (Jiji Press, NHK). Net profit hit a record for the sixth straight year and topped ¥500 billion for the first time in Japanese retail. Uniqlo did well at home and abroad. A leading SPA, handling everything from planning and manufacturing to sales in-house, it overtook Sweden's H&M (about ¥3.6 trillion for the fiscal year ended November 2025) in yen-converted sales to become the world's No. 2 apparel specialty retailer, the Asahi Shimbun and others reported. In first place is Spain's Inditex, which runs ZARA. For the year ending August 2027 it expects net profit to rise 3.2% to ¥560 billion. Growth slows sharply from the previous year. Reuters reported an outlook for a record profit for a seventh straight year. The pattern of overseas sales outweighing domestic ones has advanced further, and Jiji Press cited strong overseas results as the pillar of the record profit. The Asahi Shimbun said Uniqlo had entered an “era of two powers” with No. 1 ZARA, while raising the sluggish growth of the low-price brand GU as a worry on the road to No. 1. Yen-converted figures swollen by the weak yen shrink if the exchange rate recovers. The race for rank is decided not by currency but by store openings and products.

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Word of the day
SPAMAKER-RETAILER

A business model in which one company handles everything from product planning and materials sourcing to production, logistics and in-store sales. It cuts out middlemen's margins and can change output as it sees what sells. Uniqlo, ZARA and H&M compete at the top of the world rankings in this form.

Politics · AgriculturePress ✓ 2 outlets · payment rate from reports based on government sources, not yet decided

Government Eyes Payments of About 5% of Sales for Small Farmers Whose Take-Home Falls Under Consumption Tax Cut

The government has begun coordinating a plan to pay small and midsize farmers and others, whose take-home income falls under the consumption tax cut on food, a subsidy of about 5% of sales. The Mainichi Shimbun and the Asahi Shimbun reported it on the 8th. Most farmers are tax-exempt businesses or businesses that choose simplified taxation. A cut reduces the consumption tax portion included in their selling prices, while they continue to pay 10% consumption tax when buying fertilizer and materials. The aim is to fill that gap. Kyodo News had reported the payment scheme in August.

Details will be settled in compiling the fiscal 2027 draft budget. Prime Minister Sanae Takaichi repeated in the Diet on the 8th that the funding for the cut would come from reviewing spending and revenue rather than relying on deficit-financing bonds. Agriculture Minister Kazuo Yana (簗和生), who oversees agricultural policy, has been called on to resign over remarks about road budgets in his home district, but the prime minister kept him on, saying she had “sternly cautioned” him. The Constitutional Democratic Party does not intend to agree to hold the upper house Agriculture, Forestry and Fisheries Committee, and discussion in the forum for working out the payments has stopped too.

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Society · TechnologyPress ✓ 4 outlets · charges are the German authorities' claim, counts are company announcements

Core Figure in Qilin Ransomware Gang Held in Japan, Arrested in Germany; Up to 8.72 Million Records May Have Leaked at Karaoke Giant

A Russian man (28) believed to be a core member of the ransomware group Qilin, said to have attacked about 4,000 organizations worldwide, has been arrested by German authorities. Japanese police detained him in Osaka in May, and after review by the Tokyo High Court he was handed over to Germany on Oct. 2. Japan and Germany have no extradition treaty; the procedure was under the Extradition Act. German authorities suspect extortion: attacking a logistics company in Germany and demanding a ransom. According to the Asahi Shimbun, Qilin's victims include 53 companies and hospitals in Japan.

The leaks have not stopped. Daiichikosho, which runs the Big Echo karaoke chain, announced on the 8th that a device belonging to an employee of a company entrusted with handling personal information had been infected with malware, and that about 8.72 million records may have leaked (NHK, Asahi Shimbun). The Asahi Shimbun reported that information is also suspected of having leaked from Iwate Bank, Shikoku Bank and Sompo Japan through unauthorized access to related parties. The National Police Agency commissioner said, “We will press ahead with clarifying the facts.”

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Economy · MarketsPress ✓ 3 outlets · Tokyo closes are exchange figures; U.S. figures are as of the close of trading

Nikkei Falls 993 Yen to Close at Day's Low; U.S. Stocks Also Drop on Higher Oil and Rates

On the 8th, the Nikkei Stock Average fell for a second day on the Tokyo market, closing down 993.60 yen (1.42%) from the previous day at 69,042.11. It closed at the day's low, ending at the lowest level of the session, after a second straight large drop. Rising U.S. long-term interest rates combined with higher oil to spread the view that inflation would strengthen again. In the Tokyo foreign exchange market too, the yen was sold slightly on wariness over price rises (NHK).

In the U.S. market that evening, major stock indexes fell together. The S&P 500 closed down 0.61% from the previous day at 7,754.36, and the Nasdaq Composite, heavy in tech stocks, closed down 1.37% at 27,162.68. The U.S. 10-year yield is at a high level, around 5.23%. Reuters reported that the rise in yields and higher oil signaled an inflation risk. Meanwhile, the heads of Nomura Holdings and Daiwa Securities Group indicated a view that the Nikkei could reach 80,000 this year or next, while warning that overheating around AI could weigh on the market (The Japan Times).

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In brief
  • Corporate bankruptcies in the first half of this fiscal year came to just over 5,300, topping 5,000 for a second straight year. Higher input costs from the Middle East situation and the weak yen pushed small businesses into a cornerNHK · The Japan Times
  • In the suspected cartel among the four big brewers, representatives of several companies gave explanations to the Japan Fair Trade Commission admitting they had discussed pricesNHK · Mainichi
  • Chubu Electric Power's new president Minoru Yasui plans to recalculate the earthquake assumption data for the Hamaoka nuclear plant: “First, restoring trust”NHK · Asahi · Mainichi
  • People's Bank of China denies steering the yuan lower, rebutting criticism over its trade surplus from EuropeJiji · Reuters
  • Russia's Prosecutor General's Office asks the Netherlands and others to hand over Tomoko Akane (赤根智子), president of the International Criminal Court (ICC)Jiji · Asahi
  • South Korea says it successfully test-fired its first domestically developed hypersonic missile, strengthening deterrence against North KoreaNHK · The Japan Times
  • U.S. government temporarily removes Microsoft from the procedure for permanent-residency applications by foreign employees, Vice President Vance disclosedReuters · AP
Seven minutes every morning, one front page — see About

Unverified — what we could not confirm

“Trump has given up on attacking Iran.” His post went only as far as “not before the midterms.” It says nothing about after the election. The day before, the Pentagon's preparations to resume attacks were reported.
“President Xi refused to meet Prime Minister Takaichi.” Reported only by a Hong Kong newspaper. The story that Trump urged Xi to talk with Prime Minister Takaichi also comes from the same Hong Kong paper, and there is no official confirmation from any government.
“Reissuing your license makes the leaked information invalid.” NHK reported that the effect is limited. Name, address and date of birth do not change on reissue.
Glossary · dotted words — politics, markets, law and technology terms explained in the context of the story. The list grows every day.
INSIDEBrent Crude Climbs 4% Into the $104 Range as Tanker Attacks Continue at Hormuz; 11 Countries Including Japan Agree to Bolster ReservesWorld · EnergyFast Retailing Posts Record Net Profit of ¥542.5 Billion; Uniqlo Passes H&M to Rank No. 2 WorldwideEconomy · BusinessGovernment Eyes Payments of About 5% of Sales for Small Farmers Whose Take-Home Falls Under Consumption Tax CutPolitics · AgricultureCore Figure in Qilin Ransomware Gang Held in Japan, Arrested in Germany; Up to 8.72 Million Records May Have Leaked at Karaoke GiantSociety · TechnologyNikkei Falls 993 Yen to Close at Day's Low; U.S. Stocks Also Drop on Higher Oil and RatesEconomy · Markets