Is Japan, global economic superpower, planning for energy austerity measures amidst Iran war? Prime Minister reveals details

Japan's Prime Minister Sanae Takaichi said on Tuesday she had no immediate plans to ask households ‌and ⁠businesses ⁠to cut energy use in ways that would hurt economic activity, despite supply concerns triggered by the war in ⁠Iran.

"I have ‌no ​intention ​of immediately calling ⁠for conservation in a way that ​would put the ​brakes on economic activity," Takaichi said.

The government would keep a close watch ‌on the situation and act swiftly as ​needed, Takaichi ​told ⁠the upper house budget committee, responding to an opposition lawmaker ​who asked whether energy-saving measures should be imposed.


Earlier on Tuesday, Tokyo said that Iran freed a Japanese national held since January, with Kyodo News reporting that the person was believed to be the Tehran bureau chief of broadcaster NHK.

It was the second release after the Japanese government announced last month that another Japanese national was freed by Iran.

"The Japanese embassy in Iran has confirmed that a Japanese national who was detained by Iranian authorities on January 20 was released on April 6 local time," government spokesman Minoru Kihara said.

"The ambassador in Iran directly met that person after release and confirmed they were in good health," Kihara told reporters.

Media reports had said earlier that the NHK bureau chief arrested on January 20 was sent to a prison known for holding political detainees. A Japanese government spokesperson at the time told reporters that a Japanese citizen had been detained on that date but declined to give more details.

Japanese government bonds were largely steady on Tuesday, as ​investors wrestled with optimism over ​a potential Middle East ceasefire and unease over U.S. ​President Donald Trump's threat to escalate strikes on Iran if it fails to reopen the Strait of Hormuz.

Markets remained on edge as fragile diplomatic ‌efforts to end ⁠the conflict ⁠showed signs of strain, while geopolitical risks tied to the critical oil shipping ​route continued to cloud sentiment.

The benchmark 10-year JGB yield was flat at 2.425% after ​hitting a 27-year high on Monday, as higher oil prices, a weaker yen and concerns over fiscal expansion fuelled inflation worries.

The 20-year ​JGB yield climbed 2 basis points (bps) to ⁠3.350%. Yields ‌move inversely to bond prices. The two-year yield, ​the most ​sensitive to Bank of Japan policy rates, was ⁠unchanged at 1.395%, while the five-year yield rose 0.5 bps ​to 1.830%.