• Quarterly Corporate Report Shows Record Recurring Profit • Keidanren Chief Calls for More Wage Hikes • Weak Semiconductor Production Equipment Exports Dent April Production • Asian Petrochemical Prices Down on Weak China Demand • May Consumer Sentiment Higher

• MoF, FSA, BoJ Meet to Discuss Weak Yen, Ueda Downplays Policy Change • May Tokyo Core CPI Rises 3.2% • April Unemployment Drops to 2.6% • Tax Agency Rules Stock Options Are Wages • Scandal Hurts Kishida’s Approval Rating, Snap Election Likely Delayed

• April Core CPI Rises 3.4% • BoJ’s Ueda Warns Against Raising Rates Too Soon • Keidanren: Large Companies Raised Wages by 3.91% • Nikkei 225 Index Tops 31,000 • Machinery Orders Up 2.6% in January-March Quarter • Isshin no Kai Rejects Joining Ruling Coalition

• Corporate Price Index Up 5.8% in April • April Machine Tool Orders Drop 14% on Weak China Demand • Megabanks See Better FY 2023 Earnings • JGB Short Sellers Pause • Regional Banks’ Unrealized Bond Losses Quintuple

• Economy Watcher’s Index Continues Improvement in April • FY 2022 Current Account Surplus Drops 54% • Bankruptcies Due to Higher Prices Double in April • Real Consumption Falls 1.9% in March, Real Wages Drop 2.9% • Nippon Steel (5401) Guides for Lower Earnings on Inventory Loss