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No one has more riding on Sprint Corp’s $26.5bn sale to T-Mobile US Inc than SoftBank Group and its founder Masayoshi Son. Sprint has been going broke for more than a decade, and the wireless carrier’s executives have told regulators the company faces “serious challenges” if the takeover by T-Mobile is blocked. With a $19bn stake in Sprint, SoftBank will bear the brunt of the fallout if the deal collapses. “It would be a test of SoftBank’s willingness to save Sprint,” said Amy Yong, a Macquarie analyst. “The ownership stake is so high they’d probably look to save it, but plan B isn’t obvious or very attractive.” If it’s forced to absorb Sprint and the carrier’s $39bn debt load, Tokyo-based SoftBank and Son may have to rethink other, higher-profile ventures or sell assets, analysts say. They may also have to revisit the M&A circuit, where potential Sprint buyers have been less than enthusiastic. The carrier reports financial results Tuesday after markets close. SoftBank “continues to believe the deal will be approved,” according to an emailed statement. Sprint declined to comment. A week ago, the companies extended the expiration of the deal agreement by three months, to July 29, as reviews by the US Justice Department and Federal Communications Commission continue. Analysts have started lowering the odds for approval. Last week, Raymond James analysts cut the chances to 55% from 80%. If the deal falls through, a new agreement with a new partner for Sprint would be the best option for SoftBank, but circumstances have changed over the past year for the usual list of candidates. Dish Network Corp. has been a Sprint suitor in the past, but recently started building its own wireless network. Both Comcast Corp and Charter Communications Inc have started selling wireless service using Verizon Communications Inc’s network. It’s not clear if either company wants to own a network. “The natural will be the cable companies, but they’ve not shown much appetite for a full-blown merger,” said Chetan Sharma, a wireless industry consultant. “They will try to go through a sales process or restructure.” Sprint executive chairman Marcelo Claure – together with Son, SoftBank’s chairman – led the carrier through a three-year go-for-broke recovery effort. Using steep price cuts, Sprint stopped a mass subscriber exodus. The company, based in Overland Park, Kansas, also borrowed billions of dollars, using airwave licences and network equipment as collateral. The goal was to stabilise the business for a deal. It took three tries, but Son finally got T-Mobile parent Deutsche Telekom AG to agree to a takeover. The combined company, they assert, will have enough scale and resources to compete with larger rivals Verizon and AT&T Inc – and build a new 5G network that offers a fresh menu of wireless services. Critics of the deal, federal regulators and some state attorneys general are concerned that if the wireless industry’s two most-aggressive price-cutters are reduced to one, consumers will pay more and see less innovation. Sprint and T-Mobile executives are still fighting for approval, with Sprint casting it as a matter of survival. Future 5G services underpin their case. Sprint’s efforts to survive came at the cost of needed network spending. And without the T-Mobile merger, the No 4 US wireless carrier risks being left behind. Not lost on industry observers is the fact that Sprint owns the largest supply of midrange airwaves in the US, a key component of any coast-to-coast 5G network and a valuable asset trapped in a cash-constrained company. Claure has told regulators and lawmakers that losses totalling $25bn over the past decade have left Sprint critically wounded. Without Bellevue, Washington-based T-Mobile, there is “no obvious path to solve key business challenges,” Sprint said in a filing. Son has said he always held the combination of Sprint and T-Mobile as central to his US wireless strategy. But an even bigger worry for Sprint now may be that SoftBank’s founder has moved on. Son, the second-richest person in Japan and largest SoftBank shareholder, is consumed by multibillion-dollar projects like the Vision Fund and focused on a goal of raising a new $100bn fund every couple years. His commitment to Sprint is fading, analysts say, even though his company holds an 84% stake. “Masa Son has lost interest in being a wireless carrier,” said Roger Entner, an analyst with Recon Analytics LLC. “You can see that in him selling off part of SoftBank’s wireless operations in Japan, his underinvesting in the US and trying to sell Sprint to T-Mobile. So the problem is significantly beyond money.”

Cheers and screams filled the air in Tokyo yesterday as new Japanese Emperor Naruhito and Empress Masako made their first greetings to an ecstatic public three days after acceding to the throne following the first abdication in two centuries. Naruhito’s father, Akihito, 85, abdicated on Tuesday in a simple ceremony, nearly three years after he first expressed fears that advancing age might make it difficult for him to perform his duties. It was the first abdication in 200 years. Pledging to work as a symbol of the people, Naruhito, 59, was formally invested as emperor the day after. People queued for hours to see the new emperor and his family stand on a palace balcony and wave to the gathered crowds. Normally such greetings take place during the New Year’s holiday and on the emperor’s birthday. “I pray for your health and happiness,” said the emperor, reading prepared remarks. “And I sincerely wish for further development of our nation by going hand in hand with other nations and seeking global peace.” Masako, wearing a yellow dress and hat, waved and smiled to the crowds along with other imperial family members. They were to greet the crowds six times, according to public broadcaster NHK. Akihito became emperor in 1989 after the death of his father, Emperor Hirohito, which set off an extended period of mourning throughout Japan, but the mood has been  completely different this time. Clubs held countdowns on Tuesday night, fireworks rocketed into the air and stores held special sales to honour “Reiwa,” t he era name under which Naruhito will reign. Hundreds of couples rushed to city offices to  register their marriage. The festive mood, which many compared to New Year’s, has been fed by an unprecedented 10-day holiday that observers expect will bring an economic boost to Japan’s  sluggish economy.

Cheers and screams filled the air in Tokyo yesterday as new Japanese Emperor Naruhito and Empress Masako made their first greetings to an ecstatic public three days after acceding to the throne following the first abdication in two centuries. Naruhito’s father, Akihito, 85, abdicated on Tuesday in a simple ceremony, nearly three years after he first expressed fears that advancing age might make it difficult for him to perform his duties. It was the first abdication in 200 years. Pledging to work as a symbol of the people, Naruhito, 59, was formally invested as emperor the day after. People queued for hours to see the new emperor and his family stand on a palace balcony and wave to the gathered crowds. Normally such greetings take place during the New Year’s holiday and on the emperor’s birthday. “I pray for your health and happiness,” said the emperor, reading prepared remarks. “And I sincerely wish for further development of our nation by going hand in hand with other nations and seeking global peace.” Masako, wearing a yellow dress and hat, waved and smiled to the crowds along with other imperial family members. They were to greet the crowds six times, according to public broadcaster NHK. Akihito became emperor in 1989 after the death of his father, Emperor Hirohito, which set off an extended period of mourning throughout Japan, but the mood has been completely different this time. Clubs held countdowns on Tuesday night, fireworks rocketed into the air and stores held special sales to honour “Reiwa,” the era name under which Naruhito will reign. Hundreds of couples rushed to city offices to register their marriage. The festive mood, which many compared to New Year’s, has been fed by an unprecedented 10-day holiday that observers expect will bring an economic boost to Japan’s sluggish economy.

Japan's new Emperor Naruhito greeted the public on Saturday for the first time since he ascended the Chrysanthemum throne earlier this week. The 59-year-old emperor and his wife, Empress Masako, as well as his younger brother and wife and children, waved from a balcony in the Imperial Palace. In a speech, he wished for Japan and other countries ‘to pursue world peace.’   The comments echoed an address he made following an official ceremony on Wednesday, marking the formal start of a new imperial era, named ‘Reiwa.’    Naruhito became emperor a day after his father Akihito renounced the throne, ending a 30-year reign. It marked Japan's first abdication in 202 years. The balcony appearance - one of six scheduled for Saturday - represents a rare occasion for the public to come close to the Imperial Palace.

Japanese Prime Minister Shinzo Abe has offered to meet North Korean leader Kim Jong-un “unconditionally” in a bid to restore diplomatic ties between the two historic foes, a daily said yesterday.   Abe, seen as a foreign policy hawk, has recently softened his rhetoric towards Pyongyang, calling for a summit with Kim to resolve an emotional row over past kidnappings of Japanese nationals by Pyongyang agents.  In an interview with the Sankei Shimbun on Wednesday, Abe said: “I want to meet Chairman Kim Jong-un unconditionally and talk with him frankly with an open mind.”   “It is more than important for our country to be proactive in tackling the issue,” the premier said. “We can’t break the shell of mutual distrust between Japan and North Korea unless I directly face Mr Kim,” he said.  “I hope that he is a leader who can make a decision strategically and flexibly on what is best for his nation,” he added. Tokyo has been one of the most hawkish of the major powers on reclusive state North Korea, and has been on the receiving end of some of Pyongyang’s harshest rhetoric – as well as missiles launched over its territory. Until late 2017, North Korea repeatedly tested missiles that flew towards or over Japan, sparking warnings blared out on loudspeakers and stoking calls for a tough stance against Pyongyang.  However, Japan now finds itself battling to keep itself relevant in the fast-moving North Korea issue as Kim expands his diplomatic circle.   Kim met Russian leader Vladimir Putin last week after multiple meetings with US President Donald Trump, Chinese President Xi Jinping and South Korean leader Moon Jae-in. Abe also told the Japanese newspaper that he had asked Trump to help resolve the abduction issue when they held talks at the White House on Friday.  Trump will hold another meeting with Abe in late May when he visits Japan as the first foreign head of state to meet Japan’s new Emperor Naruhito, who was enthroned on Wednesday. Tokyo believes North Korean agents kidnapped Japanese nationals to train its spies in language and customs in the 1970s and 80s. After years of denial, North Korea admitted in 2002 that it had taken 13 Japanese civilians and released what it said were the five survivors, saying eight others had died.  Campaigners, however, believe the disappearance of up to 470 Japanese may be linked to North Korea. North Korean authorities have given no public indication of any willingness to meet Abe.

Japan’s new Emperor Naruhito pledged yesterday to stand by the Japanese people as he formally ascended the Chrysanthemum Throne, the day after his father’s historic abdication ushered in a new imperial era.   It was the first time in more than 200 years that a member of the world’s oldest royal family has chosen to step down, and solemn rituals accompanied both Akihito’s abdication and Naruhito’s enthronement.  Naruhito officially became emperor at midnight, when the country also began the new imperial era of Reiwa or “beautiful harmony”, but the transition was formalised in a Wednesday ceremony.   The ritual, off-limits to all royal women, saw 59-year-old Naruhito accept the regalia relinquished by his father a day earlier: a sacred sword and jewel as well as the seal of the state and the imperial seal.  Naruhito then delivered his first address to the nation, vowing to “act according to the Constitution” while “always turning my thoughts to the people and standing with them”.   The new monarch wore formal Western clothing including a heavy gold chain of office during the ceremony and his speech. He was joined by Empress Masako, wearing a long white gown and diamond-studded tiara, for his address. The nation’s 126th emperor said he would “reflect deeply” on the example set by his popular father Akihito, and that assuming the throne filled him with a “sense of solemnity”.  Prime Minister Shinzo Abe, replying on behalf of the people, said: “We are determined to create a bright future for a proud Japan filled with peace and hope at a time when the international situation is changing dramatically.”  After heavy rain dampened celebrations for the abdication on Tuesday, Japanese took advantage of sunnier weather to flock to the Meiji Shrine in the heart of the capital, where free sake was served ahead of a display of horseback archery. Others watched the ceremonies and speech, which were conducted behind closed doors at the palace, on big screens outside Shinjuku, the world’s busiest station.  “I am someone who loves history and what we are experiencing now will be talked about for a long time,” 21-year-old law student Mito Okuno told AFP. “That’s why I wanted to come in person,” added Okuno, resplendent in a striped kimono, who came some 600km from the town of Himeji to experience the moment. Naruhito will make his first public appearance on Saturday when he will again address the people of Japan.  But the real pomp and ceremony will wait until October 22 when he and Masako will appear in elaborate traditional robes for a palace ceremony before parading through the streets of Tokyo to be congratulated by a host of world leaders and royals.   Naruhito will greet his first foreign head of state as emperor later this month, when US President Donald Trump visits Japan to meet the new monarch.  His father will move out of the palace later this year and now assumes the title Emperor Emeritus. The Oxford-educated Naruhito faces the delicate balancing act of continuing his father’s legacy of bringing the monarchy closer to the people while upholding the centuries-old traditions of the Chrysanthemum Throne.   Like his popular father, he has warned of the need to remember World War II “correctly”, without downplaying Japan’s early 20th-century militarism.  He has suggested the royal family should modernise, and vowed when he married Masako – who left behind a promising diplomatic career – to protect her “at any cost”. She has struggled with palace life, including being subjected to enormous pressure to produce a male heir, and has suffered stress-induced “adjustment disorder” for much of their marriage. The couple have one child, a 17-year-old daughter called Aiko, who cannot inherit the throne because she is female.  In a statement released on her birthday in December, Masako pledged to do her best despite feeling “insecure” about becoming empress.  In the candid statement, she said she was recovering and could “perform more duties than before”, crediting the “powerful support” of the public.  Naruhito is ascending the throne in a very different Japan to the one his father took over when he became emperor in 1989. Then, Japan ruled the world economically, its technology was the envy of every industrialised nation, and its stock market was at highs unlikely to be matched again. But following a “lost decade” after the bubble burst, the country is locked in a battle against deflation and sluggish growth while its population ages rapidly.  Akihito’s abdication, the first in 200 years, has resulted in an unprecedented 10-day public holiday for the famously hard-working Japanese, with many taking advantage of the break to travel.

Japanese Emperor Naruhito assumed the Chrysanthemum throne on Wednesday, saying he will fulfil his responsibility as a ‘symbol of the state and of the unity of the people of Japan’ as his country marked the beginning of a new era. In his first address to the country, the 59-year-old emperor said: ‘[I] will act according to the constitution and fulfil my responsibility as the symbol of the state and of the unity of the people of Japan, while always turning my thoughts to the people and standing with them.’  The emperor's address came a day after his father Akihito renounced the throne, ending his 30-year reign with Japan's first abdication in 202 years. Akihito, now emperor emeritus, ‘performed each of his duties in earnest for more than 30 years, while praying for world peace and the happiness of the people, and at all times sharing in the joys and sorrows of the people. He showed profound compassion through his own bearing,’ Emperor Naruhito said in a ceremony at the Imperial Palace. About 290 people, including Empress Masako, imperial family members, Prime Minister Shinzo Abe and cabinet ministers attended the event, according to the Imperial Household Agency. However, Akihito and Empress Michiko, who has become empress emerita, were not present. ‘In acceding to the throne, I swear that I will reflect deeply on the course followed’ by the emperor emeritus, said Naruhito, who does not hold any political authority. ‘I sincerely pray for the happiness of the people and the further development of the nation as well as the peace of the world,’ he added. Earlier in the day, the emperor attended his first ritual at the palace, inheriting the imperial regalia of sword and a jewel as proof of ascendance to the throne. However, as only adult male imperial family members were allowed to attend the ritual, Empress Masako, the couple's daughter Princess Aiko and other female imperial family members were barred from the emperor's first official duty. The Oxford-educated Naruhito formally became Japan's 126th emperor at midnight (1500 GMT Tuesday) as Japan marked the beginning of the new Reiwa Era. Japan is in a festive mood with people celebrating the imperial succession and the arrival of the new era. Some say Japan could not celebrate the last succession in 1989, which came with the death of Emperor Hirohito. From a car window, the emperor and Masako, a former diplomat who graduated from Harvard, were waving smilingly at the crowd which cheered the couple from the roadsides. Many people also came to the palace, though they did not expect to see any of the imperial family members. Just like Akihito and Michiko, the new imperial couple is popular, wearing casual attire, visiting disaster-hit areas in Japan and even being seen kneeling down to talk to residents affected by earthquakes and the 2011 tsunami. Their popularity is also due to little criticism of the imperial family as Japan's educational institutions and media downplay or ignore critical views about the royal system, said Nobuyoshi Takashima, professor emeritus at the University of the Ryukyus on the southern island of Okinawa. The agency said the public will have a chance to meet Emperor Naruhito, Empress Masako and other imperial family members on Saturday, when they are scheduled to appear on a palace balcony. Japan lays claim to the world's oldest monarchy, stretching back more than 2,600 years, according to the government. However, the existence of legendary figures such as Emperor Jimmu, the country's first leader who reigned between 660 BC and 585 BC, has been contested. Despite a festive mood, the imperial system faces huge challenges: Like shrinking, ageing Japan, the number of imperial family members has steadily declined. Prince Hisahito, 12, the son of Crown Prince Akishino and Crown Princess Kiko, is the only male in his generation; the family has six unmarried female members, who would have to give up their royal status after marrying a man outside imperial circles, so the number of imperial family members is bound to dwindle further. The female succession issue also lingers. The only child of Naruhito and Masako is Princess Aiko, 17. But she is not allowed to succeed to the throne under current law, which has drawn criticism from home and abroad. Next in line is Prince Akishino, 53, Naruhito's younger brother, followed by Prince Hisahito. The word ‘Reiwa’ for the new era consists of two Japanese kanji characters: ‘rei’ means ‘order,’ ‘command’ or ‘good,’ while ‘wa’ means ‘harmony.’

A new era dawned in Japan today as Naruhito officially became emperor at midnight following his father’s historic abdication from the Chrysanthemum Throne, the world’s oldest monarchy.   The 59-year-old Naruhito will formally take possession of the sacred imperial regalia at a solemn ceremony later today but he became the 126th emperor at the stroke of midnight, ushering in the “Reiwa” imperial era.  His father, the popular 85-year-old Akihito used his final royal speech to offer his “heartfelt gratitude to the people of Japan” and pray for global peace as the curtain came down on his 30-year reign that saw him transform the role of emperor.  During a 10-minute ceremony in the Imperial Palace’s elegant Room of Pine, he stopped to offer a hand to his wife of 60 years, Michiko, as she stepped down from the stage and poignantly paused before exiting the room, bowing deeply to the 300 invited guests.  It was the first time in more than 200 years an emperor had stepped down in Japan and kicks off the “Reiwa” era — meaning “beautiful harmony” — that will last as long as Naruhito is on the throne.  Constant rain dampened large-scale celebrations but a few hundred hardy souls gathered outside the palace as the ceremony unfolded while others watched on giant screens around Tokyo.   “I feel overwhelmed emotionally,” said a tearful Yayoi Iwasaki, a 50-year-old bank employee, standing outside the palace.  Bowing outside the palace, Miyuki Sakai, a 45-year-old housewife, told AFP: “It’s sad I won’t be able to see the familiar face on TV, but he’s 85. I hope he’ll have a quiet life with his wife.”  Outside Tokyo, locals wearing kimonos performed a traditional dance in Gifu, central Japan, to mark the imperial transition – planning to dance all night.  Several couples held their wedding ceremonies at midnight at hotels to join the national celebration.  And crowds braved torrential rain to see in the new era at Tokyo’s famous Shibuya crossing.  “The emperor was a good person. He played an important role during the March 11 quake. He was the symbol of Japan. I hope the new emperor will carry on the kindness the old emperor had,” said Rika Yamamoto, a 24-year-old company employee sheltering under an umbrella on the crossing.  However, not everything was beautiful and harmonious as minor scuffles broke out near Shinjuku, the world’s busiest station, with right-wingers briefly clashing with anti-monarchy protesters.  Naruhito will formally “inherit” the imperial symbols of an ancient sword and jewel at a formal ceremony at 10:30am on Wednesday. The third piece of the imperial regalia — a mirror — never leaves the palace.  As Naruhito ascends the throne, he will find a very different Japan than his father took over in 1989.   At the end of the 1980s, Japan ruled the world economically, its technology was the envy of every industrialised nation and its stock market at highs unlikely to be matched again.  But after a “lost decade” when the bubble burst, Japan is still locked in a battle against deflation and sluggish growth while its population ages rapidly and many rural areas suffer from depopulation to the major cities. Naruhito will also face the challenge of continuing his father’s legacy while maintaining Japanese traditions that stretch back centuries.  Akihito changed the role of emperor that remains sensitive in Japan after the country’s militaristic past in the name of his father Hirohito.  He was loved for his popular touch and he melted hearts when he bowed humbly before victims of the 2011 earthquake and tsunami, gently comforting them and listening to their tales of suffering.   Waqas Adenwala, an analyst at the Economic Intelligence Unit, said: “Given the standards set by his father, Emperor Naruhito will be expected to maintain a similar approach and extend his outreach to the society through public appearances.”  But the Oxford-educated Naruhito has also criticised the sometimes stifling constraints on the imperial family, especially as his wife Masako – a former diplomat – has struggled to adapt to life in the palace and has seen her health suffer.  “Masako may have difficulties fulfilling her duties but it will be good if she can participate in imperial tasks, so far as her health allows,” Kumio Sudo, a 67-year-old pensioner, told AFP.  The abdication has resulted in a 10-day holiday in Japan, although polls show many famously hard-working Japanese were opposed to such a long break. They have nonetheless seized on the rare opportunity to travel, with bullet trains and airports overflowing and Tokyo’s usually packed commuter trains eerily empty at rush hour.  Meanwhile, entrepreneurs have sold everything from “Reiwa” bottles of sake to $10 cans of air from the “Heisei” era of Akihito’s reign.

Emperor Akihito of Japan formally stepped down Tuesday, the first abdication for 200 years in the world's oldest monarchy, as his son Naruhito prepared to take the Chrysanthemum Throne and usher in a new imperial era. In the ‘Room of Pine’ in Tokyo's Imperial Palace, the popular 85-year-old performed the abdication ritual in the presence of the imperial regalia -- an ancient sword and sacred jewel that are considered to legitimise an emperor. In his final speech, Akihito offered his ‘deepest heartfelt gratitude to the people of Japan’ and said he would ‘pray for the peace and happiness of all the people in Japan and around the world.’ Despite near-constant rain in Tokyo, several hundred wellwishers congregated outside the Palace during the historic ceremony attended by around 300 people, including Prime Minister Shinzo Abe and around a dozen members of the royal family. ‘I feel overwhelmed emotionally,’ said a tearful Yayoi Iwasaki, a 50-year-old bank employee, standing outside the palace. ‘In the past, enthronements followed the death of emperors and people weren't sure whether they should be happy and celebrating, but with this transition, I am sure that we can celebrate while welcoming the new era,’ she said. Akihito will technically remain emperor until the stroke of midnight when Naruhito takes over and the new era of ‘Reiwa’ -- meaning ‘beautiful harmony’ -- begins, lasting for as long as he reigns. Earlier Tuesday, draped in ornate golden-brown robes and wearing a towering black hat, Akihito reported his abdication to his ancestors and Shinto gods at several sanctuaries in the palace. On Wednesday, the 59-year-old Naruhito will inherit the imperial regalia in a 10-minute ceremony that is off-limits to female royals, even his wife Masako. He will shortly afterwards make his first address to the nation as its 126th emperor. Crowds were expected to gather to count down to the new era outside the palace and at the scramble crossing in Tokyo's lively Shibuya district, although the drizzle threatened to dampen some of the enthusiasm. Security has been beefed up with extra police patrols on the streets, sniffer dogs scouring the palace grounds and even divers inspecting the moat. A more public enthronement ceremony will take place on October 22, during which Naruhito will parade through the streets of the capital and be congratulated by other world leaders and royalty. President Donald Trump sent congratulations, offering ‘heartfelt appreciation’ to the outgoing imperial couple and stressing the ‘close relationship’ between the US and Japan. He will become the first foreign leader to meet the new emperor on a trip in May. - 'New royal duties' - Born in 1933 as Japan was embarking on a militaristic sweep across Asia in the name of his father Hirohito, the 11-year-old Akihito listened in tears as his nation's defeat in World War II was announced in an unprecedented radio address. He has broken new ground in the sensitive role, expressing regret over Japan's wartime actions and gradually modernising the royal family and bringing it closer to the people. Akihito and his wife Michiko, whom he met at a tennis tournament in 1959, touched hearts in Japan and around the world when they knelt before survivors of the 2011 earthquake and tsunami and listened to stories of terrible suffering. ‘It is true the emperor is seen to be like a god, but at the same time, you felt that you were close to him,’ Rikia Iwasaki, a 13-year-old schoolboy, told AFP outside the Imperial Palace. The Oxford-educated Naruhito now faces the delicate balancing act of continuing his father's popular legacy while upholding the traditions of the Chrysanthemum Throne that stretch back centuries. He has called for ‘new royal duties’ to fit modern times and has criticised the sometimes stifling lifestyle imposed on royals, especially as his wife Masako has struggled to adapt to palace life. - 'Ultra-aged' - The abdication has resulted in a 10-day holiday in Japan, although polls show many famously hard-working Japanese were opposed to such a long break. They have nonetheless taken the opportunity to travel, with bullet trains and airports overflowing and Tokyo's usually packed commuter trains eerily empty at rush hour. Entrepreneurs have sold everything from ‘Reiwa’ bottles of sake to $10 cans of air from the ‘Heisei’ era of Akihito's reign. Japan has witnessed a tumultuous change from 1989 when it last ushered in a new era. Then, Japan ruled the world economically in the middle of a technology-fuelled boom that caused soaring land prices and sparked wild cost comparisons: the Imperial Palace grounds were said to be worth more than all of Canada. Now, Japan is battling sluggish growth and chronically low inflation with a population in decline that will soon become the world's first ‘ultra-aged’ society, with 28 percent of people over 65.

For the emperor’s abdication today, Japanese workers are enjoying an unprecedented 10-day holiday as a rash of special days off combine with the traditional “Golden Week” in May.   But not everyone is popping the champagne corks in famously workaholic Japan. “To be honest, I don’t know how to spend the time when we are suddenly given 10 days of holidays,” said 31-year-old finance worker Seishu Sato.  “If you want to go travelling, it’s going to be crowded everywhere and tour costs have surged ... I might end up staying at my parents’ place,” he said. A survey by the Asahi Shimbun daily showed 45% of Japanese “felt unhappy” about the long vacation, with only 35% saying they “felt happy”.   “I won’t be able to take days off. On the contrary, we’ll be super-busy,” said Takeru Jo, a 46-year-old pizzeria worker.  Others who have to work over the period complain about childcare. “For parents in the service sector, the 10 days of holiday is a headache. After-school care, nurseries — everything is closed,” tweeted one disgruntled parent.  Many expect Tokyo and other large cities to empty as Japanese seize the rare opportunity for an overseas trip.  “Most of our tours for the holiday period were sold out last year,” said Hideki Wakamatsu, a spokesman for Nippon Travel Agency, adding that many others were on the waiting list.   As the holiday kicked off on Saturday, airports were packed and there were long queues for Shinkansen bullet trains. Highways out of Tokyo were jammed with motorists aiming to make a getaway from the capital.   Still, if people are curiously indifferent to the idea of extra holidays as a result of the emperor, the imperial family remains as popular as ever.  A poll by public broadcaster NHK found almost no one would admit to a “feeling of antipathy” towards the emperor with the vast majority saying they had a “positive feeling” or “respect.” Only 22% voiced indifference.  This positive sentiment has risen every year since 2003, according to the NHK poll.  Takeshi Hara, politics professor at the Open University of Japan, said much of this stemmed from the imperial couple’s “welfare-related activities”. “Their attention to the elderly, the disabled and the victims of natural disasters — those ignored by politicians in the past three decades — has earned public support,” Hara told AFP.  The fact that Emperor Akihito married his sweetheart Michiko “for love”— the first love marriage in imperial history —  has also boosted his standing, said Hara. But Hideto Tsuboi, from the Kyoto-based International Research Center for Japanese Studies, said one of the main reasons for Akihito’s popularity lay in the fact that he was “conscious of the responsibility of the post-war generation” to reflect on Japan’s wartime atrocities.  On the 73rd anniversary of the end of World War II last year, Akihito reiterated “deep remorse” over the war and his continued wishes for peace.

The archery venue for the Tokyo 2020 Olympic and Paralympic Games was officially unveiled on Sunday, becoming the first of the Games’ new venues to be completed. Yumenoshima Park Archery Field, located on a former landfill site, was set for completion in May. Other than the Olympic Stadium and the Olympic and Paralympic athletes village, Tokyo Metropolitan Government (TMG) is building eight new competition venues for the Games. The rest of the venues will be refurbished pre-existing facilities. The archery field, with a covered grandstand and warm-up area shaped like an archer’s bow, is the first of the new venues to be completed. The venue was opened by Princess Tsuguko, who is a patron of the All Japan Archery Federation, alongside Tokyo Governor Yuriko Koike. Japanese Olympic Committee President Tsunekazu Takeda, who will step down from the role in June amid a corruption probe despite denying any wrongdoing, was also in attendance. Both Princess Tsuguko and Koike spoke of the desire to leave a lasting legacy post-Games. ‘Preparations has been made since 2016 to aim to create an appropriate venue to receive top athletes for Tokyo 2020,’ said Princess Tsuguko. ‘This archery field will be the centre of Japanese archery tournaments and workshops after Tokyo 2020. I hope that archery will be a tool for people to socialise.’ Double Olympic medalist Hiroshi Yamamoto and other Japanese archers fired arrows through balloons and archers from various local clubs were then allowed to use the facilities for the very first time. In February, construction at all new venues, including the Aquatics Centre, was found to be on schedule.

Japan yesterday kicked off an unprecedented 10-day holiday, including celebration days for the imperial transition, as airports were packed with record travellers while people queued at teller machines in the cash-dominated nation. Japan is preparing for the abdication of Emperor Akihito on Tuesday the day before Akihito’s eldest son, 59-year-old Crown Prince Naruhito, takes the throne. The long holiday for the famously hard-working Japanese combines two celebration days with the traditional “Golden Week” in May. While many plan to commemorate the national ceremonies across the country, others are seizing the rare opportunity for a trip at home and overseas. A record 60,700 people were expected to go abroad from Narita airport, Tokyo’s main gateway, yesterday, Japan’s public broadcaster NHK said. Domestic holidaymakers formed long queues for Shinkansen bullet services at Tokyo station to return home or go sightseeing, while highways were crowded with vehicles in a major exodus from the capital. The number of travellers at home and overseas during the long holiday is expected to hit a record 24.67mn, according to Japanese travel agency JTB. Lenders were bracing for the lack of bills at cash dispensers as customers are expected to withdraw sufficient cash as banks will remain closed until May 6. On Friday, several cash dispensers in Tokyo were temporarily out of service as people rushed to ATMs to financially prepare for the holiday. Cash is king in Japan and credit cards are much less popular than in other countries so it is common for people to carry around relatively large amounts of yen to pay for day-to-day things. Not everyone is welcoming the long holiday in Japan, however, as some people are concerned about a limit to public and medical services while others who have to work over the period complain about childcare. A survey by the Asahi Shimbun daily showed 45% of Japanese “felt unhappy” about the long vacation, with only 35% saying they “felt happy”.

A 10-day holiday period started in Japan on Saturday, also taking in Emperor Akihito's abdication this coming Tuesday. Japan's ‘Golden Week,’ during which a number of national holidays come together, has been extended to include Akihito's abdication on April 30, followed by his son, Naruhito, taking over a day later on May 1. Emperor Akihito became the 125th Japanese emperor on January 7, 1989, at the age of 55, following the death of his father Hirohito, in whose name the country fought World War II and lost. A traditional ritual will be held at the Imperial Palace in central Tokyo on Tuesday at which the 85-year-old Akihito will renounce the Chrysanthemum throne. It will be Japan's first abdication since Emperor Kokaku relinquished the throne in 1817. Crown Prince Naruhito, 59, Akihito's oldest son, will ascend the throne on May 1 and inherit traditional regalia such as the sacred sword and jewels as proof of succession. For Japan, Naruhito's ascendance means the beginning of a new era and one month before the succession, the government announced that the era would be called ‘Reiwa.’  The word consists of two Japanese kanji characters - ‘rei’ means ‘order,’ ‘command’ or ‘good’ while ‘wa’ means ‘harmony.’

Japanese authorities on Monday hit Carlos Ghosn with a fresh charge of aggravated breach of trust, the fourth indictment against the former Nissan boss who promptly filed for bail. Experts say Monday's charge is the most serious yet levelled against the auto sector legend, whose rollercoaster case has gripped Japan and the business world since his dramatic arrest in November over alleged financial misconduct. According to a statement from the Tokyo's prosecutors' office, Ghosn is accused of funnelling millions of dollars in Nissan funds to a dealership in the Middle East and syphoning off around five million dollars for personal use. The transfers were made ‘with the purpose of benefiting himself by receiving part of the money’, prosecutors charged. Shin Kukimoto from the Tokyo prosecutors' office told reporters they had ‘enough evidence for guilty verdicts.’ However, the 65-year-old strenuously denies all allegations against him and insists they have been cooked up in a ‘plot’ by Nissan executives wary of his plans to bring the Japanese car giant closer to its French partner Renault. A Ghosn spokesperson said the former tycoon would ‘continue to vigorously defend himself against these baseless accusations and fully expects to be vindicated.’ - Labourer disguise - Ghosn's lead lawyer Junichiro Hironaka filed for bail just hours after the charge and said he was confident his client would be released as he prepares to fight the allegations. ‘In order to prove his innocence at a trial as soon as possible, we want (the court) to approve our bail request so that we can prepare a good defence,’ Hironaka told reporters. Ghosn has already won bail once before -- but under strict conditions such as agreeing not to leave the country and living under surveillance. When he last won bail, Ghosn walked out of the detention centre in front of the world's media dressed like a Japanese labourer with a cap and a face mask in an apparent attempt to give reporters the slip. He also had to stump up one billion yen ($9 million) for bail but Hironaka said they were prepared to produce more cash if necessary to secure his release. Monday was the end of the maximum period authorities had to question Ghosn, who is now technically in pre-trial detention. The case of the executive, once revered in Japan for saving Nissan from the brink of bankruptcy, has also shone a spotlight on the Japanese legal system that has come in for some criticism, especially from abroad. Japan's justice system allows authorities to keep suspects in custody for prolonged periods and trials almost always result in a conviction. And just one month after he was freed on bail, authorities re-arrested Ghosn on April 4 as they investigated fresh allegations against him. Hironaka lashed out, saying this was an unnecessary step and ‘equivalent to forcing confession by taking into custody.’ Nissan itself said it had filed a criminal complaint against its former boss ‘after determining that payments made by Nissan to an overseas vehicle sales company via a subsidiary were in fact directed by Ghosn for his personal enrichment and were not necessary from a business standpoint’. - 'Worst enemy' - The Ghosn case represents a precipitous downfall for an executive who has gone from a life of luxury and private jets as he ran three huge car companies to a small cell. He has already been stripped of his position on the board at Nissan and resigned from the head of Renault and the three-way alliance the two companies share with Mitsubishi Motors. His wife Carole has also been questioned by prosecutors in Tokyo. She was allegedly president of a company registered in the British Virgin Islands which received some of the five million dollars moved from Nissan funds to go towards a luxury yacht. She has also denied any wrongdoing, and been active in the media in recent days -- writing an opinion piece in the Washington Post calling on US President Donald Trump to lean on Japanese counterpart Shinzo Abe to allow her husband to obtain bail. Ghosn's lawyers have expression reservations that he will receive a fair trial as 99 percent of all cases that come to trial end in a conviction. Carole Ghosn has also said she is concerned about her husband's health in conditions in the Japanese jail that Ghosn himself said he would not wish on his ‘worst enemy’. But prosecutor Kukimoto said Ghosn's treatment ‘is not different to what a normal Japanese national would receive.’

The operator of Japan's crippled Fukushima power plant on Monday began removing atomic fuel from inside a building housing one of the reactors that melted down in 2011. The delicate operation represents the first time the Tokyo Electric Power Co (TEPCO) has pulled out fuel from inside a highly contaminated building containing the melted-down reactor, and comes four years behind schedule. Due to high radiation levels, technicians used remote-controlled equipment to haul fuel from a "storage pool" inside the building. Operations were briefly suspended early Monday afternoon after a problem with the equipment removing the fuel, but resumed shortly afterwards. TEPCO estimates it will take two years to remove 566 units of nuclear fuel, most of which are already spent. Engineers have had to contend with clearing earthquake debris inside the building and an array of other technical challenges, said TEPCO spokeswoman Yuka Matsubara. "We had to proceed carefully (to remove debris), and we needed to take measures as dust would waft up and increase radiation readings," she told AFP. TEPCO engineers will not yet attempt to extract molten nuclear fuel that remains deep inside the mangled reactor. This is considered the most difficult part of the massive clean-up operation and is not expected to begin until 2021. In February, TEPCO sent a remote-controlled probe to pick up pebble-sized pieces of the melted fuel in a bid to find out whether the material could be moved.  The next step in that painstaking process will be to remove some of the fuel as a sample, which is scheduled to happen by March 2020. The company also faces other difficult challenges, including working out how to dispose of large quantities of contaminated water stored in containers at the plant site. In the worst nuclear disaster since Chernobyl in 1986, reactors one, two and three at the Fukushima Daiichi power plant melted down after a deadly earthquake and tsunami that struck Japan in 2011. The tsunami killed around 18,000 people and caused widespread devastation, and the nuclear meltdown forced the evacuation of areas near the plant. Reactors four through six were offline at the time of the disaster for inspections and did not suffer meltdowns, though reactor four was damaged by an explosion in the days after the tsunami. In December 2014, TEPCO finished removing all 1,535 units of nuclear fuel kept inside the storage pool at reactor four. The company aims to conduct the same operations for the buildings for reactor one and two by 2023 as part of a four-decade plan to dismantle the entire Fukushima plant. Japan's government has pushed a reconstruction plan for the surrounding region that includes decontaminating affected areas and removing topsoil. This month, an evacuation order was lifted for part of Okuma, one of two towns where the nuclear plant is located. But regions affected by the disaster have struggled to attract back residents who fled in the wake of the meltdown, with many still concerned about radiation despite government assurances. hih/sah/ric/rma By Hiroshi HIYAMA 

* F-35 crashed over the Pacific close to northern Japan * Marks only second crash of F-35 * Aircraft was less than one year old * F-35 was first to be assembled in Japan  Search and rescue teams found wreckage from a crashed Japanese F-35 stealth fighter in the Pacific Ocean close to northern Japan, and are scouring the waters for the missing pilot, authorities said on Wednesday. The aircraft, less than a year old, was the first F-35 assembled in Japan and was aloft for only 28 minutes on Tuesday before contact was lost, a defence official said. The plane had logged a total of 280 hours in the air, he added. It was only the second F-35 to crash since the aircraft's first flight in 2006 and could reignite concern about the F-35 having only one engine. Manufacturer Lockheed Martin is competing for orders in Finland and Switzerland against the twin-engined Eurofighter Typhoon and Boeing F/A-18E/F jet. The accident could influence Switzerland's decision, but Finland could still pick the F-35 as it is close to Russia, said Justin Bronk, a research fellow at the Royal United Services Institute in London. "I would be surprised if there was a common catastrophic fault hidden away in the F-35A," he added. "It’s pretty unlikely given the large number of flight hours already completed." The advanced, single-seat jet disappeared in good weather about 135 km (84 miles) east of the Misawa air base in Aomori prefecture at about 7:27 p.m. (1027 GMT), the Air Self Defense Force said. "We recovered the wreckage and determined it was from the F-35," a spokesman said. Eight ships and seven aircraft, including a US Navy P-8 Orion maritime patrol plane, joined the search and rescue effort. The aircraft was leading three F-35s on training manoeuvres when it sent an "aborting practice" signal and disappeared from radar, Defence Minister Takeshi Iwaya told reporters. The pilot, who had 3,200 hours of flying time, but had spent only 60 hours in the F-35, gave no other indication he was in trouble, the ASDF spokesman said. "We'll need to cooperate with the US forces and I believe arrangements are being made," Iwaya said, adding that the cause of the incident would have to be determined. The crashed aircraft was the fifth delivered to the ASDF, but the first assembled by Mitsubishi Heavy Industries in Japan, a second ASDF official told Reuters. Japan's 12 remaining F-35s are grounded for now, he added. The previous four were used for training in the United States before being brought to Japan, the defence official said. No other countries operating the F-35 have grounded their stealth aircraft. Britain said it was reviewing the status of its 17 F-35B fighters for now. Australia is also waiting, the Australian newspaper has said. A spokesman for the Royal Australian Air Force did not immediately respond to a request for comment. A representative for Mitsubishi Heavy Industries Ltd said it had no immediate comment. The company assembles the aircraft at a plant near Nagoya in central Japan. The lost aircraft cost 14 billion yen ($126 million), several million more than one bought directly from the United States. The aircraft crashed in waters whose depth reaches about 1,500 metres (4,920 ft), making recovery, particularly of its flight data recorder, or black box, difficult, the official said. Without the device, investigators could study the aircraft’s classified communications and data sharing system for clues, an industry source said on condition of anonymity. The ASDF received the aircraft, designed to penetrate enemy defences by evading radar detection, last May, its spokesman said. Japan's first squadron of F-35s has just become operational at Misawa, and the government plans to buy 87 of the stealth fighters to modernise its air defences as neighbouring China and Russia upgrade their military forces. Lockheed said it was standing by to support the Japanese Air Self Defense Force as needed. The Pentagon said it was monitoring the situation. The crash was the first of the A variant of the fifth-generation fighter. A US Marine Corps short take-off and landing (STOVL) F-35B version crashed near the Marine Corps Air Station Beaufort in South Carolina in September, prompting a temporary grounding of the aircraft. Lockheed also makes a C version of the fighter designed to operate off carriers. Japan's new F-35s include 18 STOVL B planes it plans to deploy on its islands along the edge of the East China Sea.

* Ghosn speaks in video recorded before his recent arrest * Accuses former colleagues of backstabbing and conspiring * Ghosn says plotters wanted to destroy Nissan-Renault alliance  A defiant Carlos Ghosn accused "backstabbing" former colleagues of conspiring to oust him as Nissan chairman and threatening the Japanese automaker's future, in a video marking his first public address since his initial arrest last year. Prosecutors took the highly unusual step of re-arresting Ghosn on Thursday on fresh allegations that he used company funds to enrich himself by $5 million. The once-feted executive, who had been out on $9 million bail for 30 days, recorded the video the day before he went back to jail. In the video, shown to reporters by his lawyers in Tokyo, the former Nissan Motor Co chairman said he was the victim of selfish rivals bent on derailing a closer alliance between the automaker and French partner Renault. "This is not about greed or dictatorship, this is about a plot, this is about a conspiracy, this is about a backstabbing," Ghosn said. "I am innocent of all the charges that have been brought against me," he said, without explaining further. Wearing a dark jacket and a white shirt, Ghosn sat at a desk with his hands folded as he looked into the camera and spoke in a calm voice. His hair appeared greyer and his face thinner than before his first arrest in November. The video, and comments by his lawyer Junichiro Hironaka alleging harsh treatment by prosecutors against Ghosn and his wife Carole, cast Ghosn as the victim of internal rivalries and a Japanese judicial system bent on forcing a confession. The seven-minute clip was, however, edited by his legal team to remove the names of people Ghosn accused of treachery due to legal concerns. The conspiracy, Ghosn said, was born out of fear that he would bring Nissan closer to Renault, also its top shareholder. "There was fear that the next step of the alliance in terms of convergence and in terms of moving towards a merger, would in a certain way threaten some people or eventually threaten the autonomy of Nissan," he said. Ghosn also took aim at Nissan's current management, blaming them for three profit warnings and a domestic scandal involving improper vehicle inspections since his departure as CEO in 2017. The lack of leadership is "very sickening", Ghosn said. Ghosn's second stint at the Tokyo detention centre comes after he served 108 days following his first arrest last year. Prosecutors are acting in a "cruel way" and putting him under intense physical and mental pressure to get a confession, Hironaka told reporters. A spokeswoman at the Tokyo prosecutors office said she was unaware of Hironaka's comments and declined to comment. Hironaka has previously criticised the move by prosecutors to confiscate Ghosn's belongings, including his mobile phone and trial documents, along with the mobile phones and Lebanese passport of his wife, Carole, who was present when prosecutors entered their home early in the morning last Thursday. The lawyer said on Tuesday that Ghosn's wife, who left Japan last week, did so out of concern for her own safety, adding she intended to ask the French government to help her husband. But, France's finance minister said political interventions might not be the best way to help Ghosn. The case has rocked the global auto industry and also shone a harsh light on Japan's judicial system, which critics refer to as "hostage justice" as defendants who deny their charges are often not granted bail. Under Japanese law, prosecutors are able to hold suspects for up to 22 days without charge and interrogate them without their lawyers present. Ghosn has been charged with under-reporting his Nissan salary for a decade and of temporarily transferring personal financial losses to Nissan's books. However, the latest allegation is potentially more serious, as it could show he used company funds for his own purposes. 

* Shareholders oust Ghosn, Kelly as directors * Renault's Senard voted in as director * CEO Saikawa says will take time to stabilise company * FCCJ to show Ghosn video statement on Tuesday  Nissan Motor Co shareholders ousted erstwhile boss Carlos Ghosn as a director on Monday, formally severing his ties with the Japanese automaker he rescued from near-bankruptcy two decades ago and from which he is now accused of siphoning funds. Shareholders gathered for an extraordinary meeting just days after Ghosn's latest arrest in Tokyo, expressing bafflement and concern about growing financial misconduct allegations. Ghosn has denied all charges against him and said he is the victim of a boardroom coup. Tokyo prosecutors last week took the highly unusual step of re-arresting Ghosn - who had been out on $9 million bail - returning him to the Tokyo detention centre where he had previously spent more than 100 days. Under the latest allegations, he is suspected of trying to enrich himself to the tune of $5 million at the automaker's expense. Ghosn, who was first arrested in November, has been charged with under-reporting his Nissan salary for a decade, and of temporarily transferring personal financial losses to Nissan's books. However, the new allegation is potentially more serious, as it could show he used company funds for his own purposes. "I can't comprehend how this could have happened, despite having auditors," said Setsuko Shibata, a retired homemaker who said her family had held Nissan shares for decades. "I can't say I feel better about the situation after today's explanation." Meeting shareholders for the first time since Ghosn's arrest rocked the global auto industry last year, Chief Executive Hiroto Saikawa started proceedings at a Tokyo hotel by apologising for the inconvenience the scandal had caused, followed by a deep bow of contrition from him and a panel of executives and directors. Proceedings were at times interrupted by some hecklers on the floor of the meeting, which was attended by a near record-high 4,100 shareholders. The shareholders voted to remove both Ghosn and co-accused Greg Kelly from Nissan's board of directors. Kelly has also denied all charges against him. They also voted in Renault Chairman Jean-Dominique Senard as a director, an expected move that was widely seen as assuaging concern about the future of the Nissan-Renault automaking alliance engineered by Ghosn. The fall of one of the world's most-feted executives appeared to have left some Nissan shareholders nonplussed. "The situation seems to go deeper than it looks based on the information," said shareholder 68-year-old Roberto Montoya. "I'm very suspicious of the situation, and most people are." Ghosn's lawyers have called the latest arrest an attempt to muzzle him. He was due to speak at a news conference this week, but instead a video statement from him will be shown on Tuesday at the Foreign Correspondents' Club of Japan (FCCJ), the FCCJ said on its website. Saikawa on Monday said Nissan may claim damages against Ghosn, and that he would work to stabilise the company before standing down as chief executive. "This is not an issue we can fix overnight," Saikawa told shareholders. "We need to fulfil the task (of improving governance) and prepare the company for our next steps, and then pass the leadership baton." Saikawa also told shareholders he did not want to pay severance to Ghosn. Renault's Senard at the meeting stressed the importance of the automaking alliance. "I will constantly suggest the best possible evolutions in the framework of the alliance," he said. "We want to secure the right future for Nissan."

The wife of detained former Nissan boss Carlos Ghosn has flown to France to plead with the government in Paris to intervene in her husband's case, the Financial Times reported on Sunday. "I think the French government should do more for him. I don't think they've done enough. I don't think he's had enough support and he's calling for assistance. As a French citizen, it should be a right," Carole Ghosn told the paper before boarding a flight in Tokyo. Ghosn was rearrested in Japan on Thursday on allegations that he benefited from the use of part of 3.5 billion yen (31 million dollars) paid by Nissan to an Omani dealer. Police confiscated Carole Ghosn's Lebanese passport in the dawn raid on their Tokyo apartment but failed to find her US passport. She said she had decided to leave and attempt to fight his case through human rights groups. "I'm all alone here. It's traumatizing what happened," she told the FT. "If my husband is in detention and I'm here, I won't be useful. I'm going to France ... and be more useful where I can be." Ghosn was first arrested on November 19 and charged with financial misconduct and breach of trust. He spent 108 days in custody before being released in early March. He denies the allegations against him. It's unclear whether the French government will be willing to intervene in his case. Last week French carmaker Renault - a partner of Nissan and of which Ghosn was also chairman and chief executive until his resignation in January - said it had reported further expenses incurred by Ghosn to prosecutors. 

The torch design for the Tokyo 2020 Olympic and Paralympic Games was unveiled on Wednesday, exactly a year before the flame is due to arrive in Japan from Greece. The theme of the pink gold torch centres on 'sakura' or cherry blossom in Japan, which arrives every spring to much fanfare, and it was designed with input from children from the areas most severely damaged by the 2011 earthquake and tsunami. Designer Tokujin Yoshioka said he was inspired to create the torch, which features five sakura petals cut into its head to mirror the five Olympic rings, following a visit to an elementary school in Fukushima. ‘I was very impressed with the powerful expression in the cherry blossoms drawn by kids in this area,’ Yoshioka said at the unveiling ceremony in Tokyo. ‘They are trying to overcome challenges and trying to move forward. ‘I wanted to share that with the world.’ The theme of the Tokyo Games is reconstruction from the 2011 disaster and the torch relay will begin in Miyagi prefecture - another area deeply affected - on March 20 next year. The full route is yet to be disclosed. The 1.2 kilogram torch is made from aluminium, 30 percent of which has been salvaged from the temporary housing built in the aftermath of the 2011 earthquake.