S&P: OUTLOOK ON JAPAN'S LONG-TERM RATINGS REFLECTS VIEW NOMINAL GDP & REV GROWTH WILL REMAIN RESILIENT DESPITE RISKS FROM GEOPOLITICAL DEVELOPMENTS S&P: UNCERTAINTY OVER U.S. TARIFF POLICIES IS LIKELY TO ABATE SIGNIFICANTLY FOLLOWING AGREEMENT REACHED BETWEEN THE U.S. AND JAPAN

Japan has revised its clean energy vehicle subsidy program, cutting support for BYD Company Limited to 150,000 yen ($936), more than half its previous 350,000–400,000 yen level, according to the Ministry of Economy, Trade and Industry. The changes, effective from April, prioritize automakers using domestically produced batteries. Toyota Motor Corporation’s bZ4X retains the highest subsidy at 1.3 million yen, while Nissan Motor Co., Ltd.’s Ariya will be reduced to 1 million yen from 2027. Subsidies for imported models from Audi and Hyundai Motor are also being reduced, while Tesla, Inc. remains eligible for up to 1.27 million yen. BYD criticized the move as “extremely disappointing.”

BOJ: NEED TO PAY ATTENTION TO POSSIBILITY THAT UPWARD PRESSURES ON PRICES FROM RISING CRUDE OIL PRICES MAY HAVE STRENGTHENED AS FIRMS HAVE BECOME MORE PROACTIVE IN HIKING PRICES, WAGES