9月24日（木）JERAがハワイでLNG火力発電所 3100億円投資、ソフトバンクGジャンク債に発行額2倍の需要 10%の金利も
JERA has committed to building an LNG-fired power plant and fuel terminal in Hawaii at a total cost of $2 billion (approximately ¥310 billion), targeting new demand in a region heavily dependent on oil and coal. SoftBank Group's planned junk bond offering attracted more than $20 billion in orders—over twice the intended issuance amount—with the yield on its 7.5-year dollar tranche potentially reaching 10%, according to Bloomberg. Other stories include Hitachi Rail's €1.3 billion Austrian rail signal contract, a Chinese government probe into AI startups Moonshot AI and DeepSeek, Sharp's development of a universal satellite communication antenna, and the OECD raising its 2027 global inflation forecast.
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What this episode answers
What is the scale of JERA's planned investment in Hawaii and what is the strategic rationale behind it?
JERA plans to invest a total of $2 billion (approximately ¥310 billion) to build an LNG-fired thermal power plant and fuel terminal in Hawaii. The rationale is that Hawaii currently relies heavily on oil and coal for electricity, so JERA aims to cover the full value chain from power generation infrastructure to fuel supply, creating an entirely new source of LNG demand in the region.
How large was the demand for SoftBank Group's junk bonds, and what yield is being quoted on the dollar-denominated tranche?
SoftBank Group's planned dollar- and euro-denominated junk bond issuance has attracted more than $20 billion (approximately ¥3.15 trillion) in orders, roughly double the amount it intends to raise. The coupon on the dollar-denominated 7.5-year tranche could reach as high as 10%.
What are the contract term and value of the rail signaling deal that Hitachi Rail secured from Austrian Federal Railways?
Hitachi Rail secured a 30-year contract from Austrian Federal Railways (ÖBB) to supply a next-generation railway signaling system, valued at €1.3 billion (approximately ¥230 billion). Hitachi Rail will handle everything from development through post-deployment maintenance as a single integrated provider.
Which AI companies is the Chinese government investigating, on what grounds, and which outlet reported it?
China's Cyberspace Administration of China is investigating domestic AI startups Moonshot AI and DeepSeek on suspicion of involvement in leaking classified information. The story was first reported by U.S. outlet The Information.
What is the OECD's revised 2027 global inflation forecast and what drove the upward revision?
The OECD raised its 2027 global inflation forecast to 3.6%, a 0.5 percentage point increase from its previous June forecast. The upward revision reflects the renewed rise in commodity prices, including oil.
JERA to Build LNG Power Plant in Hawaii with ¥310 Billion Investment
JERA has decided to build a liquefied natural gas (LNG)-fired thermal power plant and fuel terminal in the state of Hawaii, with a total investment of $2 billion (approximately ¥310 billion). Hawaii relies heavily on oil and coal for its electricity supply, and JERA intends to cover the full value chain—from constructing the power generation infrastructure to supplying the fuel—as a way to develop an entirely new source of LNG demand in the region.
SoftBank Group Junk Bonds Draw Twice the Intended Demand; Dollar Tranche Yield May Hit 10%
Bloomberg reported on September 22 that SoftBank Group's planned issuance of dollar- and euro-denominated junk bonds (bonds rated below investment grade) has already attracted more than $20 billion (approximately ¥3.15 trillion) in orders, roughly double the amount the company intends to raise. For the dollar-denominated tranche with a 7.5-year maturity, the coupon could reach as high as 10%. The scale of demand for a below-investment-grade offering has drawn significant attention from markets.
Hitachi Rail Wins 30-Year, ¥230 Billion Rail Signaling Contract from Austrian Federal Railways
Hitachi Rail, the railway subsidiary of Hitachi, announced on September 22 that it has won a contract to supply a next-generation railway signaling system to Austrian Federal Railways (ÖBB). The deal runs for 30 years and is valued at €1.3 billion (approximately ¥230 billion). A key feature of the contract is that Hitachi Rail will handle everything from development through post-deployment maintenance as a single integrated provider.
Chinese Authorities Investigate Moonshot AI and DeepSeek Over Suspected Secrets Leak
China's Cyberspace Administration of China has opened an investigation into domestic AI startups Moonshot AI (ムーンショットAI) and DeepSeek (ディープシーク) on suspicion of involvement in the leaking of classified information. The story was first reported by U.S. outlet The Information on September 22. The episode headline also referenced suspicions of classified information being transferred to Anthropic's AI, though further detail on that point was not discussed in the main program.
Sharp Developing Universal Satellite Antenna to Reduce Dependence on Starlink
Sharp is developing a universal antenna capable of switching between multiple satellite communication providers. The company is targeting practical deployment by 2027, with plans to commercialize a communications terminal incorporating the antenna by 2030. Anticipated use cases include remote operation of construction machinery, autonomous driving, and defense applications. The overarching goal is to reduce reliance on any single satellite service provider.
OECD Raises 2027 Global Inflation Forecast to 3.6%
The Organisation for Economic Co-operation and Development (OECD) announced on September 23 that it projects global consumer price inflation at 3.6% in 2027. The figure represents a 0.5 percentage point increase from the previous forecast issued in June, reflecting the renewed rise in commodity prices, including oil.
September 25 Is Jūgoya—the Full Moon Falls Two Days Later This Year
September 25 marks Jūgoya (十五夜), the traditional mid-autumn moon-viewing night known as Chūshū no Meigetsu. According to the National Astronomical Observatory of Japan, the Chūshū no Meigetsu refers to the moon visible on the fifteenth night of the eighth month of the lunar calendar. The occasion is celebrated by displaying tsukimi dango (moon-viewing rice dumplings), susuki grass, and autumn harvests such as taro and chestnuts, while giving thanks for the season's bounty. This year, the actual full moon will occur on the 27th at 1:49 a.m.—two days after the traditional viewing night—which the observatory notes is an uncommon occurrence.
Takeaways
- JERA will invest $2 billion (approximately ¥310 billion) to build an LNG power plant and fuel terminal in Hawaii, creating new LNG demand in a region that currently depends almost entirely on oil and coal.
- SoftBank Group's junk bond offering drew more than $20 billion in orders—over twice the planned issuance size—with the 7.5-year dollar tranche potentially yielding 10%.
- The OECD raised its 2027 global inflation forecast by 0.5 percentage points to 3.6%, citing renewed increases in commodity prices including oil.
This article is edited from a machine transcript of the first 30 minutes of the episode. It is not an official summary — please listen to the episode itself.