Tokyo, October 15, 2025 – Mitsubishi Heavy Industries (MHI) Thermal Systems, Ltd., a part of Mitsubishi Heavy Industries Group, won a 2025 GOOD DESIGN AWARD (organized by the Japan Institute of Design Promotion) for its proprietarily developed Hyper Multi LXZ Series of building-use multi-split air-conditioners for buildings in Japan.
Established in 1957, GOOD DESIGN AWARD is Japan’s leading commendation system. Eligible for application are products, architecture, application and software, projects and initiatives that utilize design and more. Through this system, many people come in contact with “good design” and appreciate their value. The G-Mark, a symbol of award, is widely familiar as a representation of excellent design.
The Hyper Multi LXZ Series features a new design with a distinctive blue ornamentation and flat stucco-white panels. The refined design has a neat, unified look when multiple units are installed in a row, coordinates easily with a variety of installation environments and blends in with urban spaces. Environmental impact is reduced through the use of R32, a refrigerant with approximately one third of the GWP(Note1) of the previous R410A refrigerant. Energy efficiency has been improved through the use of a new compressor and a redesign of the air flow path. Additionally, the structure comprising small units with a single fan and the high-density heat exchanger reduce the area required for installation by approximately 28%.
New features include Variable Temperature Capacity Control+, which conserves energy without sacrificing comfort, and a hot gas bypass defrost mode that minimizes the decrease in room temperature typically associated with conventional defrost operation(Note2). There is also dedicated equipment to meet safety regulations, including a shutoff valve that can be connected to multiple indoor units, contributing to lower installation costs.
MHI Thermal Systems aims to build on this success and carry out further technological development tailored to each customer to provide air conditioning solutions that meet a diverse range of needs.
1GWP: global warming potential. CO2 is assigned a GWP of 1. The lower the GWP factor, the less impact on the environment.
2A mode used to remove frost that builds up on the heat exchanger of an outdoor air conditioning unit during operation in heating mode. Depending on the conditions of the building, this can temporarily lower the room temperature as warm air stops being supplied through the indoor unit during operation in this mode.
Global VC investment remains strong, driven by AI and supported by increasing exit activity
Global venture capital (VC) investment rose from $112 billion in Q2’25 to $120 billion in Q3’25 — marking the fourth consecutive quarter of robust investment, according to the latest edition of Venture Pulse from KPMG Private Enterprise, a quarterly report tracking investment trends globally across major regions around the world.
The Americas led with $85.1 billion, while Asia saw muted investment at $16.8 billion. AI continued to dominate VC activity, with significant funding rounds for AI model development and applications. The US accounted for most of the VC investment in the Americas, while Europe saw solid growth. Global exit value climbed to $149.9 billion, the highest since Q4’21, driven by renewed IPO activity. Looking ahead to Q4’25, global VC investment is expected to remain stable, with AI continuing to dominate. Robotics and defensetech will also continue to be focus areas.
The last time the global VC market saw $100 billion+ in investment for four quarters in a row was between Q4’21 and Q3’22. While overall deal volume eased slightly — reflecting a typical seasonal slowdown across the Americas and Europe — the broader market trajectory remained positive. Investor sentiment strengthened steadily throughout the quarter, buoyed by renewed optimism around liquidity pathways and a gradual reopening of exit markets in the Americas and Asia.
During Q3’25, the focus of VC investors globally concentrated on large deals — with 10 megadeals valued at $1 billion or more. Eight of these deals occurred in the US, led by raises by Anthropic AI’s of $13billion and xAI’s $10 billion.
AI continued to dominate VC investment activity in other regions as well in Q3’25. In Europe, France-based Mistral raised $1.5 billion and UK-based Nscale raised $1.5 billion. In Asia, Australia-based Firmus raised A$330 million ($220 million), while China-based MiniMaxAI raised $300 million and South Korea-based Rebellions raised $244 million. In addition to startups engaged in foundational AI model development, venture capital investors worldwide demonstrated increasing interest in AI-powered applications and sector-specific innovations. Beyond AI, defense technology and space technology garnered significant attention during the quarter, largely due to persistent geopolitical tensions. Health technology, quantum computing, and alternative energy also maintained strong investor interest throughout Q3’25.
Regionally, the Americas led global VC investment, attracting $85.1 billion across 3,474 deals in Q3’25—more than 70% of the total funding seen globally during the quarter. Within the Americas, the United States accounted for $80.9 billion across 3,175 deals. Europe attracted the second-largest share of VC funding during the quarter—$17.4 billion across 1,625 deals—overtaking Asia, where VC investment remained somewhat sluggish at $16.8 billion across 2,310 deals.
Samsung recognized for AI leadership and accelerating adoption
Samsung Electronics today announced it has been recognized by Interbrand, a global brand consultancy, as the 5th-ranked global brand for the sixth year in a row. Interbrand releases its list of “Best Global Brands” each year. For this year’s list, Samsung recorded a brand value of $90.5 billion, upholding its position as the only Asian company to remain in the global top five since 2020.
According to Interbrand, Samsung Electronics’ evaluation was positively influenced by:
Strengthened AI competitiveness across the company’s business divisions
Enhanced customer experiences through unified integration across products
Focused investment in AI-related semiconductors
Execution of a customer-centric brand strategy
“Through AI innovation and open collaboration, Samsung has worked to ensure that more customers can experience AI in their daily lives,” said Won-Jin Lee, President and Head of Global Marketing Office at Samsung Electronics. “Moving forward, we will continue to focus on benefits for customers including in health and safety so that Samsung can grow into an even more beloved brand.”
Under the vision of “Innovation for All,” Samsung consistently strives to make AI accessible to more customers worldwide.
This year, Samsung reinforced its leadership in mobile AI with the continued advancement of Galaxy AI, aiming to make it available on 400 million devices within the year driving the democratization of AI. In Consumer Electronics (CE), Samsung has expanded AI competitiveness by introducing AI technologies tailored to each product category, such as Vision AI and Bespoke AI.
Through open collaboration with diverse partners, Samsung has enhanced personalized AI experiences for customers, while also providing industry-leading security with Samsung Knox.
In semiconductors, Samsung has been addressing the growing demand for AI with a comprehensive portfolio across cloud, on-device and physical AI. This includes actively responding with advanced products including HBM, high-capacity DDR5, LPDDR5X and GDDR7.
Beyond AI, Samsung continues to enhance the accessibility of its products and services and drive sustainable innovation across all business divisions. This includes energy savings through energy-efficient appliances connected via SmartThings.
Samsung’s Recognized Efforts in Each Business Division
Mobile
Leading the mobile AI era and driving the popularization of AI with Galaxy AI
Strengthening foldable category leadership with the launch of Galaxy Z Fold7 and Z Flip7
Enhancing customer trust through strengthened privacy and security technologies
Expanding health services through advanced wearables, Samsung Health enhancements and open collaboration
Networks
Reinforcing leadership in AI-powered virtualized Radio Access Networks (vRAN) and Open RAN
Consistently innovating technologies to support various 5G use cases, including high quality streaming and gaming
Leading the technical standardization of 6G
Enhancing partnerships with customer companies and communicating the sustainability aspects of Samsung’s network technology
Visual Display
Solidifying global leadership in TVs, soundbars and gaming monitors
Innovating viewing with rich AI features based on Vision AI
Enhancing The Frame and Art Store services to deliver personalized art TV experiences
Expanding content offerings through partnerships in TV Plus, entertainment, gaming and music
Digital Appliances
Maintaining global leadership in categories such as refrigerators and washing machines through consistent product innovation and advanced AI capabilities
Providing differentiated convenience and advanced AI experiences through SmartThings integration
Expanding Bespoke AI appliance leadership across energy efficiency, usability, performance and design
Semiconductor
Operating a diverse portfolio across cloud, on-device and physical AI applications
Maintaining leadership in mobile and automotive semiconductors, including DDR, SSD, LPDDR, UFS and Auto SSD
Continuing development and investment in innovative solutions like CMM-D and HBM
Sharing vision and industry leadership through influential tech events
Interbrand’s Best Global Brands are ranked based on brand value evaluation, which involves a comprehensive analysis of the company’s financial performance and outlook, the influence of the brand on customer purchases and brand competitiveness (including strategy, empathy, differentiation, customer engagement, consistency, trust and more). The ranking is one of the world’s longest-standing brand value evaluations, widely recognized for its credibility.
Pupils fear that using artificial intelligence is eroding their ability to study, with many complaining it makes schoolwork “too easy” and others saying it limits their creativity and stops them learning new skills, according to new research.
The report on the use of AI in UK schools, commissioned by Oxford University Press (OUP), found that just 2% of students aged between 13 and 18 said they did not use AI for their schoolwork, while 80% said they regularly used it.
Despite AI’s widespread use, 62% of the students said it has had a negative impact on their skills and development at school, while one in four of the students agreed that AI “makes it too easy for me to find the answers without doing the work myself”.
A further 12% said AI “limits my creative thinking” while similar numbers said they were less likely to solve problems or write creatively.
Alexandra Tomescu, OUP’s generative AI and machine learning product specialist, said the study was among the first to look at how young people in the UK were incorporating AI into their education.
“The thing I find fascinating is how sophisticated the answers are,” Tomescu said. “For 60% of students to say they are concerned that AI tools encourage copying rather than doing original work, that’s a very deep understanding of what your schoolwork is meant to help you do, and what the pitfalls and benefits are associated with this technology.
“Young people who are using this technology actually have a pretty sophisticated, quite mature understanding of what the technology does in relation to their schoolwork, which is fascinating because we don’t give young people enough credit when it comes to using technology in an educational space, unaided, in this way.”
OUP’s findings follow empirical studies on the use of AI in education. One published this year by the Massachusetts Institute of Technology (MIT) measured brain electrical activity during essay writing among students using large language models (LLM) such as ChatGPT, and concluded: “These results raise concerns about the long-term educational implications of LLM reliance and underscore the need for deeper inquiry into AI’s role in learning.”
Nearly half of the 2,000 students surveyed by OUP said they were worried their classmates were “secretly using AI” for schoolwork without their teachers being unable to spot it.
Many reported that they wanted more help from teachers for the appropriate use of AI and in judging whether its output was reliable. OUP said it is launching a new AI education hub aimed at supporting teachers.
“Some of these findings will be very interesting for teachers, especially around how much students are expecting guidance from teachers. We sometimes think there is a technological generational divide, and yet they are still looking at their teachers for guidance in how to use this technology productively, and I find that very positive,” Tomescu said.
Daniel Williams, an assistant headteacher and AI lead at Bishop Vesey’s grammar school in Birmingham, said: “The findings closely reflect what I see in school. Many pupils recognise AI’s value for creativity, revision, and problem-solving but often use it as a shortcut rather than a learning tool.”
Just 31% said they didn’t think AI use had a negative impact on any of their skills. But most students said using AI helped them gain new skills, including 18% who said it helped them understand problems, and 15% said it helped them come up with “new and better” ideas.
Asked to elaborate, one 15-year-old female student said: “I have been able to understand maths better and it helps me to solve difficult questions.”
Meanwhile, a boy aged 14 claimed: “I now think faster than I used to.”
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Top US financiers have warned of an erosion in lending standards after credit markets were shaken by the collapse of First Brands Group and Tricolor Holdings.
Apollo Global Management chief executive Marc Rowan said the unravelling of the two businesses followed years in which lenders had sought out riskier borrowers.
“It does not surprise me that we are seeing late-cycle accidents,” Rowan said on Tuesday. “I think it’s a desire to win in a competitive market that sometimes leads to shortcuts.”
Last month’s failure of First Brands and subprime auto lender Tricolor has reverberated across credit markets and left investors such as Blackstone and PGIM, as well as major banks including Jefferies, nursing heavy losses.
It has also prompted further scrutiny of the private capital industry and the lack of transparency around borrowers, which tend to be highly levered with debt.
“In some of these more levered credits, there’s been a willingness to cut corners,” Rowan told the Financial Times Private Capital Summit in London.
Both Rowan and Blackstone president Jonathan Gray pointed the finger at banks for having amassed exposure to First Brands and Tricolor, but said the collapses were not signs of a systemic issue. “What’s interesting is both of those were bank-led processes,” Gray told the same FT conference, rejecting “100 per cent” the “idea that this was a canary in the coal mine” or a systemic problem.
Far from championing First Brands, Apollo went so far as to build a short position against debt linked to the group prior to its collapse, meaning it would profit if the company failed to repay loans. “Most of the announced holders of risk are, in fact, financial institutions,” said Rowan.
Banks and private capital firms have been at odds in recent years as businesses have increasingly turned to private credit for their borrowing needs. Traditional lenders have labelled the shift regulatory arbitrage and complained that non-bank financial institutions are too lightly regulated.
But First Brands and Tricolor have exposed how both sides are intertwined through complex financial structures that can obfuscate who holds the underwriting risk, especially as bank lenders aim to maintain their market share.
JPMorgan Chase chief executive Jamie Dimon echoed some of the concerns on Tuesday as the bank reported strong earnings that were marred by a $170mn hit from Tricolor’s collapse.
“My antenna goes up when things like that happen. I probably shouldn’t say this but when you see one cockroach there are probably more,” he said. “There clearly was, in my opinion, fraud involved in a bunch of these things, but that doesn’t mean we can’t improve our procedures,” he added, acknowledging that the Tricolor exposure “was not our finest moment”.
Meanwhile, the IMF on Tuesday called for regulators to focus on bank exposure to the sector, noting that “banks are increasingly lending to private credit funds because these loans often deliver higher returns on equity than traditional commercial and industrial lending”.
Daehyun Shin daehyun.shin@hyundai.com Global Strategy & Planning · Hyundai Motor Company
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China’s CPI inflation edged up in September, but the economy remained in deflation. The main reason is a continued slide in food prices down to -4.4% YoY, a 20-month low. This is, in part, base effect-driven, as MoM prices actually picked up 0.7%. The primary culprit has been pork (-17%), which is currently in a downward trend and likely to continue dragging food inflation for several more months. On a YoY basis, we continued to see notable drags from vegetable (-13.7%), egg (-11.9%), and fruit (-4.2%) prices despite MoM gains for each of these categories. The drag from these categories may persist in October, but should ease from November onward, helping to support a turnaround of food inflation.
The silver lining in the data was that non-food inflation picked up to 0.7% YoY, up for a fourth consecutive month despite a -0.1% MoM dip. Household goods and services rose 2.2% YoY, driven by a 5.5% YoY uptick in household appliance prices. Sports & recreation (0.8%) and healthcare (1.1%) also contributed positively to non-food inflation. However, rent prices remained flat in YoY terms in September amid the property market slump. Transportation (-2.0%) continued to experience deflation due to falling auto and fuel prices.
If the recovery of non-food prices is sustained, it would go a long way toward pushing China out of deflationary territory. But the MoM decline suggests that, at this stage, this is still questionable. As food prices are often cyclical, this drag will fade. We should see China’s CPI inflation data edge back into positive territory, potentially before year-end but more likely next year.
PPI inflation unsurprisingly remained in deflationary territory for the 36th consecutive month, at -2.3% YoY. However, this represented a second straight month of higher PPI inflation, as input prices edged up a little higher from -4.0% YoY to -3.1% YoY. Most industries continued to face falling ex-factory prices. Exceptions are non-ferrous metals mining (13.9%), non-ferrous metal smelting and processing (6.5%), as well as water production and supply (2.3%).
Lower-than-expected third-quarter inflation may translate to a more supportive GDP deflator in next week’s GDP read, adding upside risk to our current 4.5% YoY forecast.
Considering the slowing momentum in 3Q, another month of deflation suggests that monetary policy easing remains on the table. The recent escalation of tensions between China and the US ahead of potential talks between Presidents Xi and Trump at the end of the month could keep the PBOC on hold for the rest of October. That would leave ammunition to support markets if talks do not go well. November, consequently, remains an interesting window to watch for potential easing.
(Bloomberg) — Asian stocks advanced after three days of losses, as optimism over a potential Federal Reserve interest-rate cut lifted sentiment and outweighed renewed US-China trade tensions.
MSCI’s regional stock gauge gained 1.3% after Fed Chair Jerome Powell’s concerns about a weakening labor market reinforced expectations for an October rate cut. Futures on the S&P 500 and Nasdaq 100 rose 0.1% as investors shrugged off trade-war concerns after President Donald Trump said he might stop trade in cooking oil with China.
The offshore yuan extended its gains after China boosted its currency defense on Wednesday amid a trade spat. A gauge of the dollar weakened and gold set a new peak. Treasury two-year yields hovered near their lowest levels since 2022 while crude oil was near a five-month low.
Since the tariff-fueled selloff in April, global stocks have rebounded sharply, buoyed by optimism over artificial intelligence and expectations of further monetary easing following the Fed’s September rate cut. That rally, however, faces headwinds as trade tensions between the US and China resurface, with both sides stepping up rhetoric and signaling possible new restrictions on key technology.
“Macro uncertainty remains the key overhang for risk assets,” said Dilin Wu, a strategist at Pepperstone Group, in a note. “With rate-cut bets and solid earnings underpinning sentiment, I believe the downside for US stocks remains limited.”
In China, the currency gained after the central bank set the so-called yuan fixing at 7.0995 per dollar, stronger than the closely watched 7.1 per dollar level amid mounting trade tensions with the US. It’s the first time since November that the central bank has set the yuan fixing stronger than 7.1 per dollar, after holding that line since late August.
“A fix below 7.10 sends a strong message of strength,” said Fiona Lim, a senior foreign-exchange analyst at Malayan Banking Bhd. in Singapore. “A strong yuan is symbolic of how China is in a position of strength for any negotiations or tit-for-tat escalations.”
What Bloomberg strategists say…
Fed dovishness is driving a fresh bout of dollar weakness, which also clears the path for hedging strategies centered on gold. The theme of buying stocks despite AI bubble fears — and adding to bullion holdings in case those fears become reality — looks to be getting a fresh run.
— Garfield Reynolds, MLIV Team Leader. For full analysis, click here.
Also, China’s deflation eased in September, leaving the country on track for the longest streak of economy-wide price declines since market reforms in the late 1970s.
Earlier, Powell signaled the US central bank is on track to deliver another quarter-point interest-rate cut later this month, even as a government shutdown significantly reduces its read on the economy.
Swap contracts are pricing in roughly 1.25 percentage points of rate cuts by the end of next year, from the current range of 4%-4.25%.
Powell said the economic outlook appeared unchanged since policymakers met in September, when they lowered rates and projected two more cuts this year. Boston Fed President Susan Collins also said the US central bank should continue lowering rates this year to support the labor market.
“Markets viewed Fed Chair Powell’s speech as consistent with continued rate cuts over the coming FOMC meetings this year,” ANZ Group Holdings Ltd. analysts Brian Martin and Daniel Hynes said in a note.
While Powell’s remarks set the tone for trading, investors were also monitoring a series of trade-related developments.
US Trade Representative Jamieson Greer predicted that heightened tensions with China over export controls would ease, following talks between representatives of the two countries. Trump, too, sounded cautiously optimistic that a positive outcome could be reached.
“We have a fair relationship with China, and I think it’ll be fine. And if it’s not, that’s OK too,” Trump told reporters Tuesday at the White House. “We have a lot of punches being thrown, and we’ve been very successful.”
Elsewhere, the European Union is considering forcing Chinese firms to hand over technology to European companies if they want to operate locally, in an aggressive new push to make the bloc’s industry more competitive.
Attention in Asia is also on Japan. Investors are cautious going into the country’s 20-year government bond auction on Wednesday as the shock collapse of the ruling coalition fuels fresh political uncertainty.
Longer-maturity bonds plunged after Sanae Takaichi’s surprise victory in the Liberal Democratic Party election earlier this month, while prospects for her becoming prime minister diminished after the rupture of the 26-year alliance last week.
Amid the political uncertainty, the heads of Japan’s main opposition parties are expected to discuss Wednesday whether they can close policy gaps and pick a candidate of their own for the nation’s premiership.
Corporate News:
Asian luxury-goods stocks rose after LVMH sales unexpectedly returned to growth in the third quarter as shoppers splurged on Moët & Chandon Champagne and Dior perfumes, suggesting a persistent slump in luxury demand is easing. Apple Inc. is preparing to expand its manufacturing operations in Vietnam as part of a push into the smart home market and an ongoing effort to lessen its dependence on China. Stellantis NV will invest $13 billion in the US over the next four years, as it seeks to reinvigorate business in the critical market and curb the impact of tariffs. Some of the main moves in markets:
Stocks
S&P 500 futures rose 0.2% as of 11:57 a.m. Tokyo time Japan’s Topix rose 1.3% Australia’s S&P/ASX 200 rose 0.9% Hong Kong’s Hang Seng rose 0.9% The Shanghai Composite was little changed Euro Stoxx 50 futures rose 0.9% Currencies
The Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.2% to $1.1626 The Japanese yen rose 0.5% to 151.06 per dollar The offshore yuan rose 0.2% to 7.1277 per dollar Cryptocurrencies
Bitcoin fell 0.1% to $112,935.06 Ether was little changed at $4,120.94 Bonds
The yield on 10-year Treasuries declined two basis points to 4.01% Japan’s 10-year yield was little changed at 1.650% Australia’s 10-year yield declined two basis points to 4.21% Commodities
West Texas Intermediate crude fell 0.4% to $58.49 a barrel Spot gold rose 0.8% to $4,174.25 an ounce This story was produced with the assistance of Bloomberg Automation.
Japan Mobility Show 2025 (JMS), to be held at Tokyo Big Sight from October 30, 2025, is an event where visitors can see, touch, and experience the future of mobility. Evolving from the Tokyo Motor Show, JMS operates adopts the concept “Let’s go explore an exciting future!”
Since its founding, Honda has always been driven by the dreams of Honda associates and creating mobility products using its original technologies and ideas. As a comprehensive mobility company, Honda continues to take on challenges to augment possibilities for people and society through its mobility products and services.
