FX Truce: Japan and the U.S. say they’re in “constant and robust” coordination after yen-buying intervention, with Finance Minister Satsuki Katayama stressing the move follows their joint rules on “excess volatility.” Household Pressure: Japan’s household spending fell 2.9% in real terms in March, extending a slide even as car buying and Expo-linked activity helped FY2025 edge up 0.1%. Supply Squeeze Hits Snacks: Calbee is shifting some colored chip packaging to black-and-white as naphtha shortages tied to the Iran war disrupt ink supplies—an “oil-to-label” ripple now spreading across food packaging. Energy & Sanctions: Japan says it will send officials to Russia in late May to help protect Japanese firms’ assets, while denying any push for post-war cooperation. Tech Security Push: Japan is negotiating access to U.S. AI firm Anthropic’s latest model to strengthen defenses against cyberattacks. Culture & Screen: Cannes opens with 22 films in the Palme d’Or race, while VOTOMS: The Grey Witch gets a new trailer and a November release date. Health Alert: A rat-virus cruise outbreak is still driving quarantine guidance and hospital monitoring abroad.