Three major banks, including Mitsubishi UFJ Bank, announced that they will raise fixed mortgage rates applied from next month. The preferential rate for the standard 10-year fixed mortgage will be increased to 2.75% at Mitsubishi UFJ Bank and Mizuho Bank, while Sumitomo Mitsui Banking Corp. will raise the rate to 2.85%. (News On Japan)

A century-old manufacturer of pressure gauges in Taisho Ward, Osaka, is struggling under what it describes as a historic surge in raw material costs, highlighting the growing strain on small and midsize enterprises that underpin Japan’s economy. (News On Japan)