The Japanese government is ending its Cool Japan Fund program

The Japanese government has decided to end its Cool Japan Fund program, as the fund's budget deficit has reached a staggering 54 billion yen (US$340 million). Established in 2013, the Cool Japan Fund aimed to promote Japanese culture and products internationally through various channels, including anime, manga, pop music, food, fashion, technology, and tourism.

However, the fund's efforts have not yielded the desired results, as it has been criticized for supporting poorly-performing projects. One recent example is the dinosaur-themed amusement park Junglia Okinawa, which faced backlash from both Japanese and foreign tourists due to high prices and lackluster attractions. Despite the program's shortcomings, Japan has still gained a reputation as a "cool" country, with global interest in Japanese media, food, and travel skyrocketing.

This boom can be attributed to the weakening yen, making Japanese products and vacations more affordable for international tourists. The Ministry of Economy, Trade and Industry believes that private-sector organizations have proven capable of showcasing Japan's unique offerings without the need for the Cool Japan Fund. In light of increasing living costs and the reduced necessity of the fund, the government has decided to terminate the program, as it is unlikely to recover from its financial deficit in a dormant state.