# 10月15日（木）簗和生農相 首相に辞表提出、ワールドとTSIが経営統合へ 27年3月に持ち株会社設立 - Show: ながら日経 - Published: 2026-10-14 - Canonical: https://podc.club/en/episode/1627014612_bb9cc0c56aaa.html - Audio: https://traffic.megaphone.fm/NRBC5469057464.mp3 - Source: Edited from a machine transcript of the first 30 minutes of the episode. Not an official summary. Agriculture, Forestry and Fisheries Minister Yanagi Kazuo (簗和生) submitted his resignation to Prime Minister Takaichi Sanae on October 14, facing criticism over road budget remarks and suspected violations of the Public Offices Election Law—the first cabinet resignation due to scandal since the Takaichi administration took office in October 2025. In business news, apparel majors World and TSI Holdings announced a merger targeting a joint holding company by March 2027, while the IMF projected that Japan's nominal GDP will slip to sixth place globally in 2027, overtaken by India and the United Kingdom. ## What this episode answers ### Why did Agriculture Minister Yanagi Kazuo submit his resignation? Yanagi faced mounting criticism over remarks about cutting road budgets and suspected violations of the Public Offices Election Law; he met with Prime Minister Takaichi Sanae at the official residence on October 14 and submitted his resignation, becoming the first cabinet minister to resign over a scandal since the Takaichi administration launched in October 2025. ### What are the details and background of the World–TSI Holdings merger? The two companies plan to establish a joint holding company by March 2027, with both firms placed under it as subsidiaries; the merger is aimed at cutting operating costs—particularly in logistics—to survive in a domestic apparel market that continues to shrink due to Japan's aging and declining population. ### Why did South Korean memory-related stocks fall sharply? China's major memory chipmaker CXMT announced plans to release server-oriented memory products featuring new higher-density technology as early as late 2026, triggering a sharp drop in the share prices of South Korea's two leading memory companies, though deep skepticism remains in the market about whether CXMT can actually achieve mass production of the technology. ### What did the IMF forecast for Japan's nominal GDP? The IMF projected that Japan's nominal GDP will be surpassed by both India and the United Kingdom in 2027, dropping Japan to sixth place globally, with a weaker yen reducing dollar-denominated figures and sluggish economic growth cited as the primary causes; Japan had already fallen to fourth after Germany overtook it in 2023. ### What are the reservation figures for Mitsubishi's new Pajero, and how is the company responding? Reservations exceeded 4,000 units—surpassing the company's full-year 2026 sales target—within two weeks of opening in October, with the launch set for December 17; encouraged by the strong start, Mitsubishi Motors said it is considering increasing Japan-bound production at its manufacturing facilities. ## Article ## Agriculture Minister Yanagi Kazuo Resigns—First Cabinet Departure Under the Takaichi Administration Agriculture, Forestry and Fisheries Minister Yanagi Kazuo (簗和生) submitted his resignation to Prime Minister Takaichi Sanae (高市早苗) at the official residence on October 14. Two controversies had converged to make his position untenable: remarks attributed to Yanagi about cutting road budgets had already drawn public criticism, and intensifying pressure over suspicions of a Public Offices Election Law violation forced the issue. His exit marks the first resignation of a cabinet minister due to a scandal since the Takaichi administration was formed in October 2025. ## World and TSI Holdings to Merge—Joint Holding Company Targeting March 2027 Major apparel companies World and TSI Holdings announced on October 14 that they will integrate their operations. Under the plan, the two firms will establish a joint holding company by March 2027, with both companies placed beneath it as subsidiaries. Japan's domestic apparel market has been contracting steadily as the population ages and declines, and the merger is designed to reduce operating costs—particularly in logistics—in order to secure the companies' long-term survival. ## Terra Drone Delivers Small Attack Drones to Ukrainian Government Drone developer Terra Drone announced on October 14 that its Ukrainian subsidiary has delivered small attack drones to the Ukrainian government. The drones were adopted by the Defense Procurement Agency, the body responsible for weapons procurement under Ukraine's Ministry of Defense. The contract represents a meaningful commercial milestone in a market where demand for drone technology continues to grow. ## China's CXMT Shock—Korean Memory Stocks Tumble on Technology Catch-Up Fears Chinese memory chipmaker CXMT disclosed plans to launch server-oriented memory products incorporating new higher-density technology as early as the end of 2026. The announcement triggered sharp declines in the share prices of South Korea's two largest memory companies, fueling concern that Chinese manufacturers are closing the technology gap with established industry leaders. Analysts and market participants remain broadly skeptical, however, about whether CXMT can actually achieve mass production of the technology at scale. ## Japan's GDP to Fall to Sixth Globally—IMF Projects India and UK to Overtake in 2027 The International Monetary Fund (IMF) has forecast that Japan's nominal GDP will be surpassed by both India and the United Kingdom in 2027, dropping Japan to sixth place in the global rankings. The primary factors are a weaker yen—which erodes Japan's dollar-denominated GDP figure—and persistently sluggish economic growth. Japan fell from second to third in 2010 when China overtook it, then slipped further to fourth in 2023 when Germany moved ahead. Should the IMF's latest projection materialize, Japan will fall yet another two places down the global league table. ## Mitsubishi's New Pajero Draws 4,000-Plus Reservations in Two Weeks—Production Increase Under Consideration Mitsubishi Motors announced on October 14 that domestic reservations for its new SUV, the Pajero, exceeded 4,000 units within the first two weeks since bookings opened in October—surpassing the company's full-year 2026 Japan sales target for the model. The vehicle is scheduled to go on sale on December 17. Encouraged by the strong early response, Mitsubishi Motors said it is considering ramping up Japan-bound production at its manufacturing facilities to meet demand. ## Takeaways - Agriculture Minister Yanagi Kazuo resigned over road budget remarks and election law suspicions, becoming the first cabinet minister to quit under the Takaichi administration since it launched in October 2025. - The IMF projects Japan's nominal GDP will fall to sixth globally in 2027, overtaken by both India and the UK, driven by yen weakness and slow economic growth. - Apparel majors World and TSI Holdings announced a merger targeting a joint holding company by March 2027, aiming to cut logistics costs and survive a shrinking domestic market.