“Cool Japan” initiative, launched with great fanfare, is facing a difficult situation. The Cool Japan Fund has reported accumulated losses reaching 54 billion yen in its financial results for the 2025 fiscal year. While it is true that Japanese anime and food culture are known worldwide, they do not necessarily enjoy “overwhelming popularity.” Although countries everywhere may view them favorably, that appeal remains “niche”—spreading largely due to an exotic allure. In other words, they have not become part of the mainstream in those nations. This reality must be carefully considered when planning the next move. (Kei)

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