SGLOADING
📅Macro & Earnings CalendarsCalendars
TokyoToday
Weekend Edition
SUN · AUG 2 · 10:10 AM JST
BY SAVVY GIANT · DAILY · TEXT · AUDIO · JST
Pre & Post Market + Weekends & Holidays
Japan Markets
0:00 / 0:00
Japan Markets

The yen's rescue kept moving through the weekend. New York's Friday session closed with the dollar down near 157.40 yen, its strongest level since early May, after the US Treasury made its first direct yen-buying intervention alongside Tokyo in more than a decade — a level well past Thursday's confirmed 160.24 close and further evidence this week's currency operation isn't finished playing out. Kumamoto's earthquake recovery, meanwhile, moved from rescue into a harder phase: the confirmed death toll holds at 36, but the tally of damaged homes has more than doubled since Friday, and forecasters are now warning residents to stay alert for aftershocks that could still register as high as intensity-7 in the quake zone.

Apple's own earnings reversal added a fresh wrinkle to the memory-chip story that has driven so much of Japan's market this week. The iPhone maker beat on both revenue and profit Thursday, then fell hard enough after hours to slip back out of the $5 trillion club — a reminder that the same memory-cost pressure squeezing device makers' margins is the exact tailwind that sent Kioxia's own profit up nearly 46-fold this week.

Tokyo re-opens Monday with the Nikkei sitting at a confirmed 64,362.02 as of Friday's close and a fresh wave of earnings on deck. Mitsubishi UFJ Financial Group, Mitsubishi Corporation, Itochu, Marubeni and Yamato Holdings report Monday; Toyota, SoftBank Corp, Nippon Steel and Mitsubishi Heavy Industries follow Tuesday. The BOJ publishes its Summary of Opinions from last week's meeting on Wednesday, and the US jobs report for July lands the following Friday — the next real test of whether this week's whiplash has settled or is still finding its level.

Washington's yen intervention becomes its most direct in over a decade

The US Treasury bought yen directly on Friday, with the New York Fed selling euros for yen on Washington's behalf through Goldman Sachs and Morgan Stanley — the first time the US has intervened alongside Japan since the coordinated 2011 G7 response to Japan's earthquake and tsunami, according to CNBC, citing the Financial Times. Treasury Secretary Bessent was photographed during a Friday cabinet meeting with a "to-do list" suggesting Washington was weighing $5–10 billion in yen purchases, and the pair closed New York trading at 157.40 to the dollar, its strongest level since early May, according to Fortune. The degree of US-Japan coordination is now, by Fortune's description, the tightest in decades — raising the stakes materially for anyone still positioned short the yen heading into Monday.

Kumamoto's damage tally more than doubles as forecasters warn the aftershocks aren't over

The confirmed death toll from the July 28 magnitude-7.1 earthquake remains at 36, with more than 9,000 evacuees still sheltering across 229 sites as of Saturday, according to the Japan Times. A fresh damage survey put confirmed housing damage at 3,649 buildings, more than double the count from the previous day, as inspectors work through backlogged assessments, according to Yahoo Japan. Separately, NHK reported the region's seismic activity remains elevated enough that residents should stay alert for aftershocks as strong as intensity-7, even as dangerous heat complicates both the search effort and daily life in the shelters, according to NHK.

Apple beats on both lines, then falls out of the $5 trillion club anyway

Apple reported fiscal third-quarter earnings per share of $2.02 against a $1.89 estimate and revenue of $109.42 billion against $108.86 billion expected, then fell roughly 6.65% after hours to $311.25 from a $333.43 regular-session close as investors focused on slower growth guidance and margin pressure ahead, according to Investing.com's earnings call transcript. The drop pulled Apple's market capitalization back under the $5 trillion mark it had only just crossed for the first time days earlier, according to the Motley Fool. The same memory-cost inflation squeezing Apple's device margins is the direct mirror image of the windfall Kioxia and the rest of Japan's chip complex have been riding all week — one supply chain, two very different income statements.

Monday reopens Tokyo with a fresh earnings wave and two more catalysts already on the calendar

Mitsubishi UFJ Financial Group, Mitsubishi Corporation, Itochu, Marubeni and Yamato Holdings are scheduled to report Monday, with Toyota, SoftBank Corp, Nippon Steel and Mitsubishi Heavy Industries following Tuesday, per Investing.com's earnings calendar. The BOJ's Summary of Opinions from last week's meeting publishes Wednesday, and the US July jobs report lands the following Friday, August 7 — both scheduled tests of whether this week's currency and earthquake shocks have fully worked through the system.

Global
Trump's threatened Iran strikes hadn't landed by Sunday morning Tokyo time, but the region kept escalating anyway

Kuwait's air defenses intercepted Iranian drone attacks targeting government and civilian sites early Saturday, hours after the Wall Street Journal reported Trump had ordered US forces to prepare an intensified strike on Iran's energy infrastructure as soon as this weekend, according to the Japan Times. US embassies in Amman, Jerusalem and Baghdad warned citizens Saturday to be ready to leave the region on short notice, while Trump said "we'll be hitting them very hard," according to CNN. As of Sunday morning in Tokyo, officials had cautioned the strikes could still be called off — Brent crude, last confirmed near $90.12 a barrel, has stayed calm through the war's expanding footprint so far, and a genuine hit on energy infrastructure is the thing that would finally break that calm.

The AI hedge fund that nearly blew up this week lost 67% of its value in July alone

Leopold Aschenbrenner told investors in a letter that his Situational Awareness fund's portfolio sank roughly 67% in July before Citadel bought the bulk of its public-stock holdings this week, writing "we came closer to permanent capital impairment than is acceptable to us" and "we let you down this month," according to U.S. News, citing the Wall Street Journal. The specific number puts a hard figure on just how close the fund came to collapse before Ken Griffin's rescue — and how violently July's chip-sector selloff hit even the most conviction-heavy AI bulls.

A hardware-wallet exploit's losses near $89 million as the attack keeps spreading

Losses from a Coldcard firmware vulnerability have grown to nearly $89 million across more than 4,500 Bitcoin addresses, according to CoinDesk, up sharply from the roughly $70 million tally reported Friday. Bitcoin, last confirmed near $62,974 and down 1.41%, has so far shrugged off the exploit, but the growing scale is a reminder that "cold storage" is only as safe as the firmware running it.

A bombing at a Moscow restaurant kills three, as Kyiv sinks a Russian cargo ship the same weekend

An improvised bomb killed three people and injured more than a dozen at an upscale Moscow restaurant Saturday, according to the New York Times, the same weekend Ukrainian forces sank a Russian container ship and Russian strikes on Kyiv killed several more, according to the BBC. Neither side is showing signs of de-escalating heading into a new week.

Tech
TSMC reportedly moves to challenge Intel on advanced chip packaging

TSMC is developing new advanced chip-packaging technology aimed at challenging Intel's dominance in the space, according to Yahoo Finance. Packaging has become one of the most contested layers of the chip stack as AI accelerators demand ever-tighter integration between compute and memory — directly relevant to the same Japan equipment names, Tokyo Electron and Disco among them, that supply both sides of that fight.

Kioxia's stock is cut in half a month after being briefly Japan's most valuable company

Kioxia's share price has swung violently over the past month, falling roughly in half from the peak that briefly made it Japan's largest company by market capitalization, even as this week's earnings showed the underlying AI-driven NAND demand cycle still very much intact, according to Toyo Keizai. It's a clean illustration of how much leverage and positioning — not just the earnings themselves — are driving swings across the whole memory sector right now, Japan's chip complex included.

Epoch AI expects the number of AI chips in use to double every nine months

A New York Times review of the coming wave of AI computing capacity cites Epoch AI's estimate that the global count of AI chips in active use is on pace to double roughly every nine months for the next several years, according to Techmeme, citing the New York Times. That kind of compounding buildout is the demand backdrop behind this week's entire Japan chip-equipment and memory story — Advantest, Tokyo Electron and Disco all sit directly in its path.

Lifestyle
"Spider-Man: Brand New Day" shatters the opening-day box office record

The film opened to $168 million domestically on its first day, a new opening-day record, according to Variety, even after a leaked bootleg circulated widely online earlier in the week. A strong reminder that a leak, however widely watched, isn't the same as lost box office.

A missing 2-year-old is found safe in the mountains near his grandmother's house

A 2-year-old boy who went missing while visiting family in Yakage, Okayama Prefecture was found safe in nearby mountains, according to NHK and Yahoo Japan — a search that ended the way every family hopes it will.

A high school senior becomes his neighborhood's association chief, and the whole block is showing up for him

A third-year high school student was elected head of his local neighborhood association, and residents say his enthusiasm has drawn a wider circle of participation into what's usually a quiet, aging institution, according to Livedoor News. A small, genuinely hopeful story about who ends up leading a community.

The Closer: A Nara traffic cop pulled over a lowered "shakotan" car, and the internet gave him a standing ovation

A white-bike patrol officer in Nara Prefecture stopped a heavily modified "shakotan" — a car lowered to the point its body nearly scrapes the road, a beloved slice of Japanese car culture that's also, technically, illegal to drive on public roads — and footage of the stop went viral with commenters showering the officer in "good job!" praise rather than the usual grumbling, according to Livedoor News. Even the car-culture faithful, it turns out, appreciate a fair cop.

Scraps
Markets & Macro
Still waiting, by Buffett's own framing, for a better price.
A close look at how the desk is doing it.
One of several fintech prints landing this weekend.
Another data point in the memory-cycle story running through this week.
World News
A sightseeing flight over the famous geoglyphs.
A rough summer for southern European fire crews continues.
Tech & Science
Part of the industry-wide scramble to fund AI infrastructure spend.
The law took effect days after xAI's challenge.
Officials say evidence points toward Iran.
Lifestyle & Culture
Chicago's festival grounds took a soaking.
A single show's measurable pull on regional tourism.
One of the show's most recognizable supporting players.
*Tokyo Today, by Savvy Giant — Sunday, August 2, 2026
Published 10:00 AM JST*
‹ swipe to explore all sections ›
CALENDAR · WEEK AHEAD
SUN · AUG 2 · TODAY
Markets closed · quiet day
MON · AUG 3
~22:30Marriott International Inc. earningsEARNINGS
~15:30Shionogi & Co.,Ltd. earningsEARNINGS
~15:30FUJI CORPORATION earningsEARNINGS
~15:30ISUZU MOTORS LIMITED earningsEARNINGS
~15:30ITOCHU Corporation earningsEARNINGS
~15:30Marubeni Corporation earningsEARNINGS
TUE · AUG 4
~05:00ONEOK Inc. earningsEARNINGS
~05:00Palantir Technologies Inc. earningsEARNINGS
~05:00Vertex Pharmaceuticals Inc. earningsEARNINGS
~05:00Williams Companies Inc. earningsEARNINGS
~22:30Ametek Inc. earningsEARNINGS
~22:30Apollo Global Management Inc. earningsEARNINGS
WED · AUG 5
08:50BOJ Summary of Opinions (July 30-31 MPM)MACRO
~05:00Advanced Micro Devices Inc. earningsEARNINGS
~05:00Amgen Inc. earningsEARNINGS
~05:00Arista Networks Inc. earningsEARNINGS
~05:00Booking Holdings Inc. earningsEARNINGS
~05:00Emerson Electric Co. earningsEARNINGS
THU · AUG 6
~05:00AppLovin Corp. earningsEARNINGS
~05:00Axon Enterprise Inc. earningsEARNINGS
~05:00MetLife Inc. earningsEARNINGS
~05:00Motorola Solutions Inc. earningsEARNINGS
~05:00Realty Income Corp. earningsEARNINGS
~22:30Constellation Energy Corp. earningsEARNINGS
Full calendars →
Published Sunday, August 2, 2026 · 10:10 AM JST — website & podcasts in sync
SAVVY GIANT™ · Tokyo Today · JST
Financial Disclaimer · Privacy · Terms · Contact
Japan Markets
NOW PLAYING · JST
0:000:00
Speed