A tsunami has hit coastal areas of Russia's Kuril Islands and Japan's large northern island of Hokkaido after an 8.7-magnitude earthquake early Wednesday.

Japan's ruling coalition agreed on Wednesday with four major opposition parties to abolish a provisional gasoline tax at the soonest this year, as it gave in to opposition pressure following a major election defeat.

Japan’s central bank should raise rates when its policy board meets this week, and failure to do so will weaken the yen and exacerbate inflation, said Takeshi Niinami, chief executive officer of Suntory Holdings Ltd.

Rei Ihara, food sector analyst at UBS Securities, said the scope for further price hikes is narrowing, as Japan's Engel coefficient, the share of household spending on food, hit 28.3% in 2024, the highest in 43 years.

European investment firm EQT will launch a $2.7 billion tender offer for Fujitec at 5,700 yen per share, the Japanese elevator maker said on Wednesday.