Companies & Industry

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Life & Lifestyle

Watami Buys US Onigiri Chain Onigilly, and the Buyer Is Japan's Old Symbol of 'Black Company' Labor

Japanese izakaya group Watami has acquired a 51% stake in Onigilly, a San Francisco onigiri chain, a bet on America's rice-ball boom. But the buyer is also a company long known in Japan as a symbol of 'black company' overwork culture. We unpack the deal, why onigiri became a healthy, photogenic US lunch, and who Watami really is.

Business & Economy

Business-Value Collateral: Japan's New Law Lets Startups Borrow Without Land or Personal Guarantees

Japan's Business-Value-Based Financing Promotion Act took effect on May 25, 2026, creating an enterprise value charge that lets companies pledge their whole business, including intangibles and future cash flow. We compare it with US venture debt and Korean and Singaporean IP finance, and ask whether banks have the skills to use it.