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Regional lender Jimoto Holdings exits government control
Regional lender Jimoto Holdings exits government control

Japan Times

timea day ago

  • Business
  • Japan Times

Regional lender Jimoto Holdings exits government control

Shareholders of Jimoto Holdings approved Thursday a plan to resume dividend payments on preferred shares held by the government, allowing the regional banking group to exit from effective government control. The plan was approved at a general shareholders meeting held in the city of Yamagata. In the business year ended in March 2024, Jimoto Holdings incurred a net loss for the second straight year due to the deterioration of earnings at subsidiary Kirayaka Bank, based in Yamagata. The group also has Sendai Bank, based in city of Sendai, under its wing. At a general shareholders meeting in June 2024, Jimoto Holdings decided to forgo dividend payments, giving preferred shares that are held by the government voting rights equivalent to 63% of the total. At an extraordinary shareholders meeting in September last year, Jimoto Holdings revamped its management team, working to improve its profitability. As a result, the holding company regained profitability in the business year ended in March this year, and it decided on a policy of resuming dividend payments. The focus is now on whether the group will be able to repay a total of ¥78 billion in public funds injected into Sendai Bank and Kirayaka Bank as planned. Kirayaka Bank received public funds following the financial crisis triggered by the 2008 collapse of U.S. investment bank Lehman Brothers. Public funds were again injected into the bank, following the 2011 massive earthquake and tsunami that heavily hit northeastern Japan, and the COVID-19 crisis.

Sendai faces growing waitlist at after-school care facilities
Sendai faces growing waitlist at after-school care facilities

Japan Times

time4 days ago

  • General
  • Japan Times

Sendai faces growing waitlist at after-school care facilities

Sendai is seeing a rise in cases of upper-grade elementary school children not being able to use after-school care facilities — places for children to go while their parents are working — because the establishments must adhere to a quota that prioritizes children in lower grades who are moving into the city. Many of them are eventually accepted, as the number of children who end up using the programs tends to be lower than expected, but their parents say they should be allowed to use the facilities without having to wait and see first. 'Both my child and I had to spend days worrying,' said a company worker in her 40s from Sendai's Taihaku Ward, recalling the past few months when her daughter had been waiting to get accepted to an after-school care facility. They received a notice from the Sendai Municipal Government in February saying that the daughter, who would be in fourth grade from April, could not be registered at an after-school care facility this school year because the number of applications exceeded the program's capacity. While putting her daughter on a waitlist, the woman rushed to make a spare key for their home and buy a smartphone for her daughter. As her daughter began staying home alone after school, she often called the mother during her work hours, saying, 'I'm scared a stranger might come to the door. When are you coming home?' She told her boss about the situation and asked that her overtime be reduced. In late April, the family was told a space had opened up at the facility, and the daughter resumed using it in May. It was only after receiving a document from the municipal government in March that the woman learned of the quota prioritizing lower-grade children who might move in. She strongly feels she has been treated poorly. "I wish city officials had taken emergency action when considering things from our perspective," she said. Reflecting an increase in dual-income families, the number of children registered at after-school care facilities in Sendai continues to rise, reaching a record high of 15,024 in fiscal 2024, which ended in March. The Sendai government has been working to expand the capacity of such programs by utilizing empty classrooms at schools and rooms at private properties, but many of them are still full. When applications exceed capacity, children in lower grades are prioritized, but there have been cases in which such children moved into the city after the application deadline and, therefore, could not be accommodated. To cope with such a situation, in fiscal 2023 the city started enforcing a quota — ranging from a few to around 40 depending on the capacity of establishment — for first to third graders moving in after the application deadline. According to the municipal government, children who were denied places in the new school year due to the quota were mainly those in upper grades. The number of such children has been increasing every year, from 127 in fiscal 2023 to 239 in fiscal 2024 and then 309 in fiscal 2025. After it became apparent there would be vacancies, the number of children on the waitlist as of May dropped to 11 in fiscal 2023 and four in fiscal 2024. Naomi Ikegawa, 68, a Sendai resident who heads a group calling for better after-school care for children in Miyagi Prefecture, said, 'Not allowing children to use after-school care facilities even if they wish to could make them feel alienated. 'The Sendai government should consider ways to cope with the situation from the viewpoint of children,' Ikegawa said. An official from the municipal government's after-school care program promotion division said, 'We are making sure that lower-grade children with a greater need for such facilities can use them, but ideally all the children wishing to use the facilities should be able to do so. 'We hope to consider what is the best way of registering and accepting children.' This section features topics and issues from the Tohoku region covered by the Kahoku Shimpo, the largest newspaper in Tohoku. The original article was published May 20.

Gaia Series 90: Working! Grandpa and Grandma
Gaia Series 90: Working! Grandpa and Grandma

CNA

time6 days ago

  • Business
  • CNA

Gaia Series 90: Working! Grandpa and Grandma

Elderly hands revive community kitchens in Sendai, turning age into an asset and meals into a mission. In the heart of Sendai City, a quiet culinary shift is taking place, led not by youthful start-ups or celebrity chefs, but by senior citizens. As Japan confronts the challenges of becoming a super-aged society, one initiative shows how older adults can drive community revival and contribute meaningfully to society. At HACHI, a long-established Western-style restaurant in Sendai, lunchtime sees a lively crowd. Its most popular dish is the Hamburger Steak Napolitan, priced at ¥2,200 (S$19.30), featuring a juicy hamburger patty on spaghetti tossed in Napolitan sauce. This dish, which clinched the top spot at Japan's Napolitan Contest, is a local favourite. "The noodles are chewy and delicious," a customer remarks, capturing the essence of its appeal. Second-generation owner Mr Hideharu Kakuta oversees the bustling kitchen. He explains that the key to the flavour lies in the preparation of the noodles. 'After resting overnight, they're just soft enough, which helps the sauce coat and blend well when stir-fried,' he says. However, preparing the thick noodles used to require four hours of boiling each day, resulting in long working hours for the staff. To solve this, HACHI partnered with Gbaa Food, a company that prepares the noodles off-site. "We used to boil them ourselves in-store, but now they've taken over, and it's a huge help," says Mr Kakuta. Gbaa Food, whose name combines 'grandpa' and 'grandma', is operated entirely by people aged 60 and above. 'We call ourselves the idols of Shinmachi Kitchen,' one senior staff member quips. 'We're just joking, but we enjoy it here. I really feel that senior power can revitalise a community.' Among these dedicated seniors is Mr Kenji Maruyama, aged 80. He began working at Gbaa after his wife fell ill. 'I left it all to my wife. I never did any cooking,' he admits. Now, he is responsible for cooking the rice and is learning to make dashimaki tamago, the Japanese rolled omelette. 'I do it with the hope that it'll turn out well,' he says. His motivation stems from a promise to his wife, Shoko, who is undergoing treatment for stage 4 jaw cancer. 'I tell her, 'Don't worry, I'm doing just fine,'' he says quietly. Founded by Mr Kenta Nagano, 35, Gbaa Food was launched to change the narrative around ageing. 'I wanted seniors to stay active in their communities and energise society with senior power,' he says. The model functions as a cooperative, where members share profits and set their own work schedules. Some work once a week, others every day. Seniors typically earn around ¥20,000 to ¥30,000 a month working two to four times weekly. This model is perfect as there are around 36 million people in Japan aged 65 and over. And one survey shows over 80 per cent of people turning 70 want to keep working even after that age. The seniors may not earn a lot but to them, it's more than just money. As one employee says: 'spending time with everyone like this, eating and chatting together. That's the best part'. Ms Akiko Koseki, 80, joined Gbaa after a lifetime as a homemaker. 'I do have a chef's licence, actually. I thought if there's no age limit, I'd like to give it a go.' Another member, Ms Yoneko Sudo, 74, started after her daughter encouraged her to socialise again following her husband's death. 'It's honestly so much fun,' she says. Every morning from 6 am, the seniors at Gbaa prepare about 130 handmade lunch boxes, each priced at ¥800. These include dishes like sweet and sour chicken, meatballs and pan-fried cod, all with a generous serving of vegetables. Deliveries are also made by the seniors, including regular orders to the Rakuten Eagles' team office. "The menu changes each time, so choosing is fun too," says one employee. Each lunch box also contains an illustrated note with a daily phrase, drawn by 80-year-old Mr Makoto Takahashi. One read, 'A red persimmon ripens, and the doctor turns blue.' These messages are a highlight. 'The messages always warm our hearts. Everyone looks forward to them,' says one recipient. Despite its success, Gbaa has faced financial hurdles. It operates without government subsidies and had been running at a monthly deficit of about ¥1.5 million. In response, Mr Nagano initiated a collaboration with HACHI to develop a station lunch box, priced at ¥1,650, sold at Sendai Station, which sees roughly 90,000 passengers daily. 'We're hoping to create a new Sendai speciality together,' he says. For Mr Maruyama, this project meant taking on the challenge of preparing the dashimaki tamago for the lunch box. 'Even though I'm not used to cooking, I want to give it my all,' he says. After daily practice, including using a yellow cloth to simulate eggs, he succeeded. 'This is good enough to serve,' a colleague told him. On 1 March, the two-day test sale began. 'These are handmade by local grandmas and grandads using regional ingredients,' said Mr Maruyama, who was energetically promoting the boxes. A total of 210 lunch boxes were sold. 'My wife has cancer too, so she's doing her best, and I am too. It's like we're saying, 'Let's do our best together,'' he says. Gbaa's impact continues to grow. In Tomiya City, 15 seniors now run Shinmachi Kitchen, making rice balls and seasonal dishes. In Sado Island, where the local gold mines were recently designated a UNESCO World Heritage Site, Mr Nagano is helping to open another restaurant in a 100-year-old home. 'If local grandpas and grandmas cook and serve, I think Sado will gain even more fans,' he says.

Rice rides bullet train to feed Tokyo
Rice rides bullet train to feed Tokyo

NHK

time10-06-2025

  • Business
  • NHK

Rice rides bullet train to feed Tokyo

A company in northeastern Japan that bought rice from government stockpiles shipped the crop to Tokyo by Shinkansen bullet train. The unit of household goods maker Iris Ohyama loaded 1 ton of the grain in 5-kilogram bags onto the train at Sendai Station on Tuesday. The bags were sold at an event space in Tokyo Station for 2,160 yen, or about 15 dollars, to customers who had pre-ordered. One man buying rice said, "I've been eating rice priced at 2,000 yen for 2 kilograms. So this is the same price for 5 kilos. It's much cheaper." East Japan Railway says its Shinkansen can provide a fast way for companies in rural areas that want to ship rice to stores in cities.

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