- Ishiba Cabinet’s Approval Rating Stays Low
According to a Nihon Keizai Shimbun and TV Tokyo’s joint opinion poll conducted over three days starting May 23, targeting people aged 18 and older across Japan:
34% of respondents said they "support" the Ishiba Cabinet, an increase of 1 percentage point compared to the April survey.
Meanwhile, 60% said they "do not support" the Cabinet, no change from the last month.
The policy issue that respondents most wanted the Prime Minister to prioritize was "measures against rising prices," cited by 49%.
This was followed by "pensions" at 32%.
Both "child-rearing, education, and measures to address the declining birthrate" and "economic growth" were chosen by 28% of respondents.
As for party support rates, the Liberal Democratic Party stood at 28% (down from 31% last month), the Democratic Party for the People at 11% (down from 14%), and the Constitutional Democratic Party at 9% (down from 10%).
Those with no particular party affiliation (independent voters) accounted for 27% (up from 25%).
- Japan-U.S. Tariff Negotiations Might Include Japan’s Support For Shipbuilding
On the 25th, Prime Minister Ishiba expressed his view that one of the key points in the Japan-U.S. talks, which were prompted by the Trump administration’s tariff measures, would be cooperation in the shipbuilding sector, including support for U.S. naval vessel maintenance and joint development of icebreakers.
Regarding cooperation in shipbuilding, he stated, “The United States has shown interest.
There are discussions about whether U.S. warships can be repaired in Japan, and we would like to offer our support.”
He also noted that, given the U.S. emphasis on expanding its presence in the Arctic region, “Japan has a technological advantage in icebreaker development, which could be a key point of collaboration.”
3. Japan, U.S., Australia And Philippines To Hold A Defense Ministers’ Meeting In This Weekend
It has been revealed that Japan, the United States, Australia, and the Philippines are coordinating to hold a defense ministers' meeting on the sidelines of the Asia Security Summit, which will take place in Singapore from May 30 to June 1.
The aim is to strengthen multilateral cooperation in the Indo-Pacific region and counter China's growing influence.
According to the Ministry of Defense, if realized, this would be the third such meeting, following the one held in Hawaii in May of last year.
During the talks, the four countries are expected to share concerns over China's hegemonic actions and confirm their policy of expanding joint exercises to achieve a "Free and Open Indo-Pacific."
In February this year, the four countries conducted a joint maritime exercise in the South China Sea, involving Japan's Maritime Self-Defense Force and the navies of the U.S., Australia, and the Philippines.
4. Nippon Steel Considers Granting “Golden Share” To U.S. Government In US Steel Acquisition Deal
It was revealed on May 27 through a Nikkei interview that Nippon Steel is considering transferring a “golden share” — a special class of stock that allows veto power over key corporate decisions even with a minority stake — to the U.S. government as part of its planned acquisition of American steel giant U.S. Steel.
The golden share is reportedly one of several options under consideration and has not yet been formally proposed to the U.S. government.
Nippon Steel is currently in final-stage negotiations with U.S. authorities to realize the acquisition, and it is still possible the golden share may not be transferred in the end.
A golden share (veto-power share) grants stronger authority than regular voting rights, including the power to veto board appointments and shareholder resolutions even with a single share.
If the U.S. government were to hold such a share in U.S. Steel, it would be able to retain influence over the company even after it becomes a subsidiary of Nippon Steel.
On May 25, President Donald Trump stated that “U.S. Steel will be under U.S. control. If not, the deal won’t go through. [Nippon Steel] will invest and have partial ownership.”
These comments were made in opposition to Nippon Steel’s goal of making U.S. Steel a wholly owned subsidiary.
If negotiations with the U.S. government become more difficult, Nippon Steel may formally propose the golden share plan.
In Japan, a precedent exists with INPEX, a major resource development firm, whose golden share is held by the Japanese government.
This setup functions as a defense against foreign acquisition and ensures a stable energy supply, serving national economic security.
In principle, the issuance of golden shares is not permitted for publicly listed companies in the U.S.
However, if the acquisition is approved, Nippon Steel plans to purchase all outstanding shares of U.S. Steel and delist it.
After the delisting, there would be no legal barrier to issuing a golden share and transferring it to the U.S. government.
If such a golden share were granted, the U.S. government could retain control over critical decisions such as appointing board members and blocking foreign (non-Nippon Steel) companies from influencing U.S. Steel's management.
This would give Washington considerable authority over U.S. Steel’s governance, aligning with Trump’s insistence on maintaining U.S. control.
On May 23, Trump posted on his social media platform his intention to approve the Nippon Steel–U.S. Steel acquisition.
He stated that the deal would “create at least 70,000 jobs and contribute $14 billion to the U.S. economy.”
However, he did not mention details of the acquisition framework or whether full ownership, as sought by Nippon Steel, would be allowed.
The idea of a golden share has reportedly emerged as a possible compromise to bridge the gap between the U.S. and Japanese sides.
5. Draft of Japan's 2025 "Integrated Innovation Strategy" Unveiled
The draft of the Japanese government's 2025 edition of the “Integrated Innovation Strategy,” designed to promote technological innovation, has been revealed.
The strategy sets forth a plan to establish a “Risk Management Guideline” by the end of fiscal year 2025, which will require national research institutions conducting international studies to implement measures against the outflow of advanced technology.
It also clearly states the government’s intention to balance the promotion of AI (artificial intelligence) research and development with risk management.
Toward this goal, the government has begun discussions within an expert panel to prepare for the formulation of the guideline by the end of fiscal 2025.
Specific measures to prevent information leaks may include investigating researchers’ affiliations and whether they receive funding from foreign sources, limiting access to research data to designated personnel, and restricting entry into laboratories.
Regarding AI, the strategy aims to achieve a balance between promoting innovation and managing risks.
It outlines plans to advance the research, development, and practical implementation of AI-powered robots used in caregiving and similar fields.
The government also emphasizes the promotion of AI utilization in areas suffering from severe labor shortages, such as agriculture, forestry, and fisheries, as part of regional revitalization efforts.
On the risk management side, the strategy clearly states that it will investigate safety measures taken by major IT companies and the use of AI by operators of critical infrastructure such as electricity and other essential services.
If inappropriate use of AI results in violations of citizens' rights, the government will consider appropriate countermeasures and provide guidance to the responsible businesses.
6. Space Startups Were Awarded Space Service Contracts By Ministry Of Defense
According to the Yomiuri Shimbun, on the 28th, the space startup Space One (based in Tokyo) announced that it had received an order from the Ministry of Defense to launch an experimental observation satellite.
The satellite will be mounted on the company’s small rocket Kairos and is scheduled to be launched during fiscal year 2026 from Spaceport Kii, Space One’s launch site in Kushimoto Town, Wakayama Prefecture.
The satellite is designed to detect the movements of other satellites.
Space BD, a Tokyo-based startup specializing in space services, was awarded the Ministry of Defense’s satellite launch project and selected Space One as the launch service provider.
Masakazu Toyota, President of Space One, stated, “We aim to contribute to our nation’s security and to the development of the private space business.”