Japan May labor cash earnings YoY +3.2% (consensus +3.4%); April revised up to +3.6% from +3.5%.

日本5月領先指標月率初值 0.7%，前值0.7%。

Micron on July 4 began expansion work at its Hiroshima fab with total investment of 1.5 trillion yen (≈$9.3bn). Equipment delivery and installation are slated to start in H2 2028; METI has pledged up to 500 billion yen in subsidies. XenoSpectrum says the project exceeds routine capacity growth: Hiroshima is a key site for Micron's 1β DRAM and will be the first to deploy EUV lithography for a 1γ process node. PC Watch reports Micron’s HBM4, developed for NVIDIA’s Vera Rubin platform, is in mass production and Micron plans to migrate HBM4 production from 1β to 1γ nodes.