Tokyo’s electronics mecca, the Akihabara district, will be promoted as a global tourist destination by a partnership between communications firm NTT and travel agency JTB, along with a nonprofit organization, according to Kyodo News. Part of the deal includes the planned usage of smart cards to ease the handling of duty-free purchases for foreigners.

Tax cuts aimed at promoting IT investments should be abolished next March as planned, according to a Tax Commission subcommittee. The cuts were introduced in fiscal 2003 as a temporary measure meant to last 3 years. The Japan Times has the full story.

The Yomiuri Shimbun reports that Chinese students are favored over foreign studnts from other countries, due to China’s strengthening economy. They look at the example of a recent human resources fair held in Nagaoka, Niigata prefecture, at which 51 of 61 students were Chinese. Looking at the prefecture more broadly, of 1,464 foreign students 57 percent were from China, in Japan mostly due to economic prospects.

Beer and beer-like drink shipments from five major brewers are up 2.5% in October over a year before, according to Kyodo News. This makes for the 3rd straight monthly increase in sales. That “beer-like” designation refers to beverages using malt alternatives to dodge taxes, presumably for even lower prices than Happoshu. This category accounted for 17.1% of October shipments, an amazing 3.2-fold increase.

Kyodo News reports that real output grew 0.4% for the July-September quarter, or an anual rate of 1.7%.

Korean news site donga.com has a story on the success Korean karaoke machine manufacturers have found in Japan, karaoke’s birthplace. Korean manufacturer TJ Media has entered an agreement with Daiichikosho, the top karaoke manufacturer in Japan, to provide 100 billion won (US $96 million) in products in 2007, which makes for about 120,000 machines.

The source may be lacking in objectiviry, but according to a representative at TJ Media, “There is a high possibility that in two years, all karaoke machines in karaoke bars in Japan will be made in Korea.” Looking at pricese, however, he might be right: a machine from TJ Media costs just 1/9 the price of one from Yamaha, Daiichikosho’s former machine provider, while offering the same level of functionality.

Mainichi has a piece on Honda’s US $100 million investment to expand production facilities in Brazil. This comes in response to growing demand in South America thanks to a regional recovery. Honda predicts a sales record in Brazil this year, and record profit for the fifth year in a row.

Internet service provider Softbank saw a 41% loss in profits for the July-September quarter, down to ¥6.97 billion from profits of ¥11.83 billion a year earlier. Losses from its new fixed-line telephone business are primarily to blame. Full story available from Mainichi.

Group net loss of ¥63.77 billion for the first half of 2005, according to Kyodo News.

Holding companies for 7-Eleven Inc, its US convenience chain store; article from Kyodo News.