I’d like to share that I’ll be leaving Bandai Namco at the end of 2025. With the TEKKEN series reaching its 30th anniversary—an important milestone for a project I’ve devoted much of my life to—I felt this was the most fitting moment to bring one chapter to a close. My roots lie in the days when I supported small local tournaments in Japanese arcades and in small halls and community centers overseas. I still remember carrying arcade cabinets by myself, encouraging people to “Please try TEKKEN,” and directly facing the players right in front of me. The conversations and atmosphere we shared in those places became the core of who I am as a developer and game creator. Even as the times changed, those experiences have remained at the center of my identity. And even after the tournament scene grew much larger, many of you continued to treat me like an old friend—challenging me at venues, inviting me out for drinks at bars. Those memories are also deeply precious to me. In recent years, I experienced the loss of several close friends in my personal life, and in my professional life I witnessed the retirement or passing of many senior colleagues whom I deeply respect. Those accumulated events made me reflect on the “time I have left as a creator.” During that period, I sought advice from Ken Kutaragi—whom I respect as though he were another father—and received invaluable encouragement and guidance. His words quietly supported me in making this decision. Over the past four to five years, I’ve gradually handed over all of my responsibilities, as well as the stories and worldbuilding I oversaw, to the team, bringing me to the present day. Looking back, I was fortunate to work on an extraordinary variety of projects—VR titles (such as Summer Lesson), Pokkén Tournament, the SoulCalibur series, and many others, both inside and outside the company. Each project was full of new discoveries and learning, and every one of them became an irreplaceable experience for me. To everyone who has supported me, to communities around the world, and to all the colleagues who have walked alongside me for so many years, I offer my deepest gratitude. I’ll share more about my next steps at a later date. Thank you very much for everything. 【Postscript】 Although I will be leaving the company at the end of 2025, Bandai Namco has asked me to appear at the TWT Finals at the end of January 2026, so I expect to attend as a guest. For 30 years I kept saying, “I’ll do it someday,” and never once performed as a DJ at a tournament event. So instead, I will be releasing—for the first and last time—a 60-minute TEKKEN DJ-style nonstop mix (DJ mix), personally edited by myself, together with this announcement. Listening to it brings back many memories. Thank you again, sincerely, for all these years. ‘TEKKEN: A 30-Year Journey – Harada’s Final Mix’ by Katsuhiro Harada 1 is on #SoundCloud# December 8, 2025 - The Final Day of TEKKEN’s 30th Anniversary - Katsuhiro Harada [日本語版 (Japanese version)] このたび、2025年末をもちまして、私はバンダイナムコを退職することにいたしました。 長く携わってきた『鉄拳』シリーズが30周年という大きな節目を迎え、ひとつの区切りとして最もふさわしい時期であると考えたためです。 私の原点は、日本のゲームセンターや、海外コミュニティの小さな講堂やコミュニティセンターで、まだ小規模なトーナメントをサポートしていた時代にあります。 アーケード筐体を自ら運び込み、「鉄拳もぜひ遊んでみてほしい」と声をかけながら、目の前の参加者と向き合った日々。 あの場で交わした言葉や空気が、私という開発者の核を形作りました。 時代が変化しても、あの経験が自分の中心にあります。 そしてトーナメントシーンが大きく成長した後も、皆さんは旧知の友人のように私に声をかけ、会場で対戦したり、バーで『一緒に飲もう』と誘ってくれました。 それらもまた、大切な思い出です。 ここ数年間、私生活においては友人達との死別があり、仕事においては、私が尊敬する多くの先輩方の引退や逝去に触れてきました。 そうした出来事の積み重ねが、私に『開発者として残された時間』について考える契機を与えました。 その過程で、私がもう一人の父親のように敬愛する久夛良木健さんにも相談し、貴重な助言と励ましのお言葉をいただきました。 この言葉もまた、今回の決断を静かに後押しするものとなりました。 そして、この4〜5年をかけて私の担ってきたすべての業務やストーリーや世界観、そして責務をチームに段階的に引き継ぎ、今日に至ります。 振り返れば、VR作品（サマーレッスンなど）や『ポッ拳』、ソウルキャリバーシリーズをはじめ、自社他社問わず数多くのプロジェクトに携わる機会に恵まれました。 いずれのプロジェクトも新しい発見と学びに満ち、かけがえのない経験となりました。 これまで支えてくださった皆様、世界中のコミュニティの皆様、そして長年ともに歩んできた仲間たちに深く感謝申し上げます。 次の歩みについては、改めて皆様にお伝えいたします。 これからも、どうぞよろしくお願いいたします。 +あとがき 2025年末をもって退職致しますが、2026年1月末のTWT FINALには顔を出してほしいと会社からお願いされていることもあり、FINALにはゲストとして顔を出すと思います。 これまで30年間『いつかやるよ』と言い続けてやってこなかったトーナメントイベントでのDJですが、その代わりとして“最初で最後のDJ風60分ノンストップ鉄拳ミックス（私による初編集DJ mix）”も、今回のポストに合わせて公開します。 ‘TEKKEN: A 30-Year Journey – Harada’s Final Mix’ by Katsuhiro Harada 1 is on #SoundCloud# 様々な思い出が蘇ります。改めて皆さんありがとうございました。 2025年12月8日 - 鉄拳30周年最終日 - Katsuhiro Harada

France Industrial Production (M/M) Jul: -0.4% (est 0.2%; prev 0.1%; prev R -0.1%) - Industrial Production (Y/Y): -0.5% (est 0.4%; prev -0.1%) - Manufacturing Production (M/M): -0.8% (est 0.4%; prev -1.1%; prev R -1.0%) - Manufacturing Production (Y/Y): -2.0% (prev -1.7%; prev R -1.5%)

SpaceXAI just launched Grok Voice Think Fast 2.0 - its most capable speech-to-speech model yet The numbers are so impressive: • 82.9% overall Speech-to-Speech Quality Index • 97.2% on speech reasoning • 56.5% on agentic voice tasks • Just 0.70 seconds to first audio • Uses only 0.4× the reasoning tokens of Think Fast 1.0 Grok Voice Think Fast 2.0 now ranks ahead of GPT-Realtime-2.1 and Gemini 3.1 Flash on overall speech-to-speech benchmarks But the biggest improvement is real-world listening Across thousands of short phrases in 24 languages, it delivers 1.5–2× better transcription accuracy than Deepgram Nova 3 and ElevenLabs Scribe v2 In noisy environments and compressed phone calls, that advantage grows to around 10× It can also reason while speaking, allowing tool calls to begin before it even finishes its first sentence.....with no added latency Conversations now feel much more natural: • Shorter responses • One question at a time • Less filler • More fluid dialogue • Better guidance through complex tasks SpaceXAI has already deployed it on Starlink's phone line and saw significant increases in both sales conversion and customer support containment Grok Voice Think Fast 2.0 becomes the default grok-voice-latest model on August 5 Pricing: $0.08 per minute of audio Voice AI is rapidly evolving from scripted assistants into intelligent agents that can listen, reason, speak, and take action in real time

Yesterday was historically bad for polling Minnesota: Poll Average: 🔵 Flanagan +2.0 Results: 🔵 Flanagan +19.6 Wisconsin: Poll Average: 🟡 Lindell +6.6 Results: 🔴 Demuth +6.6 Wisconsin: Poll Average: 🔵 Hong +24.5 Results: 🟡 Crowley +0.4 Michigan: Poll Average: 🔵 El-Sayed +13 Results: 🔵 El-Sayed +1

GS: We Expect Higher Diesel Prices to Boost PCE Food Prices by About 0.2-0.4% Cumulatively Over the Next Few Months We Now Expect Year-Over-Year PCE Food Inflation to Remain Around 1.8% Over the Rest of the Year

SpaceXAI just made a massive jump in image generation Grok Imagine Image 2.0 is now #4# on Artificial Analysis’ Text-to-Image Leaderboard with 1,154 Elo.....the highest-ranked model outside OpenAI Imagine Image 2.0: #4# — 1,154 Elo It also sits on the Pareto frontier for quality vs price Going from #18# to #4# in a single generation is insane SpaceXAI is moving ridiculously fast

Seednace 2.5 Prompt: Scene Understanding A raw underground streetwear performance film inside a decaying industrial building. The performers themselves do not physically transform; instead, the space, framing, distance, and visual dominance between them continuously evolve. The short begins with Performer A controlling the frame, gradually introduces Performer B through the architecture, then lets both performers exchange visual dominance until they finally unite in a strong symmetrical fashion tableau. The mood is cold, confident, mysterious and controlled rather than chaotic. Shot Design First 3 Seconds — Hook 0.0–1.2s Extreme 12mm fisheye floor-level shot directly beside Performer A’s sneaker. Performer A steps toward and almost over the camera. His black sneaker enlarges naturally from perspective until it briefly blocks most of the frame. Real foot contact, fabric inertia and subtle camera vibration. 1.2–3.0s As the shoe clears the lens, the handheld camera rapidly slides backward beneath the broken staircase. The movement reveals Performer B standing completely still in deep background beneath damaged stair rails. Performer A crosses foreground while Performer B maintains direct eye contact with camera. The spatial reveal should feel surprising but physically continuous. Middle 7–8 Seconds — Visual Pursuit 3.0–4.7s Whip-pan toward Performer B. Camera pushes aggressively into a distorted fisheye medium close-up. He performs restrained shoulder and hand gestures. Cut on beat to Performer A against cracked brick and blown-out windows. Brief stable low-angle portrait. He slowly adjusts his white sunglasses. Hold long enough to clearly preserve facial structure and reflections. 4.7–6.7s Hard cut to an ultra-wide floor-level shot across rubble. Performer A walks rhythmically toward camera. The camera retreats at almost the same speed, creating strong parallax across broken concrete and debris. He passes extremely close to one side of the lens. Natural foreground smear and fabric movement. As A clears frame, Performer B is revealed behind him already advancing through the same space. No teleportation. 6.7–8.8s Camera begins a controlled circular orbit around Performer B using a 12mm fisheye. He leans slightly toward the lens. One pale blue-grey trouser leg and white sneaker enter extreme foreground with natural perspective enlargement. The camera completes the rotation into Performer A standing several metres away. A fast push-in lands on an almost symmetrical extreme close-up of Performer A’s face and white wraparound sunglasses. Hold briefly. Real reflections of windows and ruined architecture appear in the lenses. 8.8–10.5s Pull sharply away from Performer A. Performer B appears centered between rusted staircase rails. He folds his arms, pauses, then opens them into one restrained rhythmic gesture. He begins walking toward camera while the camera retreats down a narrow debris corridor. Foreground floor textures rush past naturally. Final 4–5 Seconds — Payoff 10.5–12.2s Fast whip-pan upward into a high oblique view. Both performers are visible for the first time within the same architectural composition. Camera drops rapidly from the elevated angle toward ground level. Transition into an extreme fisheye low-angle shot. Both performers lean into the frame from opposite sides, briefly dominating the lens. No exaggerated body deformation beyond realistic fisheye distortion. 12.2–13.4s Snap to a brighter ruined window bay. Performer B enters first and stops. Performer A steps into frame beside him. They stand shoulder-to-shoulder. Minimal movement. Direct gaze toward lens. 13.4–15.0s The performers remain almost perfectly still. Camera suddenly performs a fast but controlled pull-back through the long destroyed corridor. Broken beams, rails, doorways and rubble rush past with powerful parallax. The performers rapidly become smaller but remain clearly visible together in the bright opening. Finish on a very wide architectural composition. Hard beat stop. Final Seedance 2.0 Prompt Create a 15-second photorealistic underground streetwear fashion-performance film in 16:9 inside a large abandoned industrial building constructed from exposed concrete, damaged red brick and aging timber. The building contains a broken wooden staircase, rusted stair rails, exposed beams, cracked plaster, dusty concrete floors, scattered rubble, damaged doorways, narrow debris corridors and enormous blown-out window openings flooded with natural daylight. Maintain exact visual continuity for two male performers throughout the entire film. Performer A: pale skin, backward muted-green cap, white wraparound sunglasses, small hoop earrings, oversized black-and-white abstract fleece jacket, loose dark trousers and black sneakers. Performer B: black balaclava, white oval wraparound sunglasses, teal-green work jacket, dark shirt, extremely baggy pale blue-grey jeans and clean white sneakers. Their clothing, proportions, accessories and identities must remain consistent in every shot. Use realistic skin texture, natural body proportions, believable fabric weight, realistic clothing inertia, grounded foot contact and physically plausible human movement. Visual style: raw underground European streetwear music video, documentary-real, cold, confident and mysterious. Shoot as if using a full-frame cinema camera with 12mm fisheye and 18mm ultra-wide lenses. Camera movement must feel physical and human: handheld floor-level tracking, close body passes, low-angle push-ins, pull-backs, controlled orbiting movements, short whip-pans, brief Dutch angles and occasional rotational transitions. Preserve true camera momentum, acceleration, deceleration and architectural parallax. No teleportation, instant position changes or impossible camera paths. 30 fps with a natural 1/60 shutter feel, organic motion blur, mild lens breathing, realistic fisheye edge distortion, subtle sensor noise and slight documentary exposure variation. 0–3 seconds Open with an extreme 12mm fisheye floor-level shot beside Performer A's black sneaker. He steps directly toward and almost over the lens. His shoe grows naturally in perspective until it briefly obscures most of the camera. As his foot clears the frame, the handheld camera rapidly slides backward beneath the damaged wooden staircase. Reveal Performer B standing motionless in deep background between broken stair rails while Performer A crosses close foreground. Maintain believable spatial continuity. 3–5 seconds Whip-pan toward Performer B beneath the stairs. Push rapidly into a distorted fisheye medium close-up while he performs restrained rhythmic shoulder and hand gestures. Cut sharply on a beat to Performer A in a stable low-angle portrait against cracked brick walls and bright broken windows. Performer A slowly touches and adjusts his white wraparound sunglasses. Hold briefly for stable facial detail and realistic environmental reflections in the lenses. 5–7 seconds Hard cut to a very wide floor-level view across dusty rubble. Performer A walks and moves rhythmically toward camera while the camera tracks backward. Produce strong architectural parallax and rushing debris texture. Performer A passes extremely close beside the lens, creating natural motion smear. As he clears foreground, reveal Performer B already advancing through the same corridor behind him. 7–9 seconds Perform a controlled circular 12mm fisheye orbit around Performer B. He leans slightly toward camera. One white sneaker and pale blue-grey trouser leg enter extreme foreground and enlarge naturally from perspective. Complete the rotation toward Performer A positioned farther inside the building. Execute a fast physical push-in into an extreme symmetrical close-up of Performer A. Hold his face and white sunglasses briefly with realistic skin, sharp identity preservation and natural reflections. 9–10.8 seconds Rapidly pull away. Reveal Performer B centered between damaged stair rails. He folds his arms, pauses, then opens them into a restrained hand gesture. He begins advancing toward camera. Camera retreats along the debris-covered corridor, creating strong floor-level parallax and believable spatial compression. 10.8–12.4 seconds Whip upward into a high oblique camera angle revealing both performers near the staircase. Immediately descend through a fast physical camera drop into an extreme fisheye low angle. Both performers lean naturally toward the lens from opposite sides and perform small confident gestures. Avoid excessive deformation. 12.4–15 seconds Snap to a brighter ruined bay illuminated by large blown-out windows. Performer B enters first and stops. Performer A steps beside him. They finish shoulder-to-shoulder, facing directly toward camera with minimal movement and calm confidence. On the final musical accent, perform a rapid but physically controlled pull-back down the long ruined corridor. Broken doors, beams, rails and floor debris rush past with strong realistic parallax. Both performers remain stationary together in the distant bright opening. End on an extremely wide architectural shot with both men small but clearly readable at the center of the composition. Lighting is entirely motivated by daylight entering through broken windows and door openings. Use cool cyan-green ambient shadows, rusty brown timber and brick, dirty cream plaster, subtle highlight bloom and deep but detailed blacks. Exposure should feel slightly imperfect and documentary-real, never polished studio lighting. Color grade: muted teal and green, dirty cream, rust red, mild halation, restrained contrast and subtle filmic texture. Audio: instrumental only. No vocals and no dialogue. Dark industrial hip-hop/electronic instrumental around 103 BPM using dry kick drums, tight snares, deep sub-bass pulse, sparse metallic percussion, low atmospheric drone and subtle natural room reverberation. Synchronize major push-ins, whip-pans, cuts and the final pull-back to musical accents. Add quiet realistic shoe scuffs, trouser and jacket fabric movement, distant wind and subtle abandoned-building ambience. No captions, subtitles, logos, watermarks or interface graphics. Avoid plastic skin, artificial facial smoothing, extra fingers, duplicated limbs, changing clothes, warped sunglasses, floating rubble, disappearing objects, rubbery body movement, impossible camera motion, excessive sharpening, extreme bloom or fake CGI-looking lighting. The final result should feel like a real fashion crew entered an abandoned industrial structure with an ultra-wide cinema camera and captured an aggressive but controlled underground music-video performance. Alternate Version — More Intense Make the first half much more confrontational. Performer A repeatedly passes within centimeters of the lens while Performer B appears through different layers of the staircase. Increase whip-pan velocity, lower the camera even closer to the floor and synchronize nearly every major movement to sharp percussion hits. During the final pull-back, both performers take one synchronized step toward camera just before the camera launches backward down the corridor. The performers must still remain realistic, grounded and visually consistent. Alternate Version — More Emotional Reduce the aggression. Begin with Performer A standing alone inside the huge ruined building. Introduce Performer B gradually through distant doorways and staircase openings. Use slightly longer takes, slower camera drift and more moments of stillness. The two performers eventually walk toward each other from different areas of the building and silently meet in the bright final bay. The final pull-back reveals how small they are within the enormous decaying architecture. Keep the same streetwear styling but give the film a lonely, atmospheric quality. Alternate Version — More Stylized Push the fisheye language harder while preserving photorealism. Use dramatic symmetrical compositions, exaggerated architectural vanishing points, rotating camera transitions and extremely close foreground passes. Create visual match-cuts between circular sunglasses, staircase curves and blown-out window openings. During the final shot, begin extremely close to both performers before pulling backward through multiple architectural frames until they become centered silhouettes against the daylight. Maintain realistic movement, real textures and physically plausible camera transitions.

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August CPI landed exactly on consensus this morning, 3.4% headline and core ticking down to 2.4%, and that is not the rescue the headline makes it sound like. The Fed is being priced for a hike next Wednesday, not a cut. In-line data does nothing to stop one. Here is what the annual numbers are hiding. Month on month, headline went from 0.1 in July to 0.4 in August. Core went 0.2 to 0.3. A core run rate of 0.3 a month compounds to roughly 3.7% a year, which is not 2%. The twelve-month figures are easing because of what fell out of the base, and the monthly prints are doing the opposite. Warsh said at Jackson Hole two weeks ago that recent readings "do not tell me that underlying inflation trends have meaningfully improved." The underlying trend is the monthly number. He also said financial conditions do not look restrictive enough. Before that speech the market had a September hike near one in three. It has been 56 to 60 percent since. And yesterday's PPI is the piece almost nobody has paired with this one. Producer prices are running 5.4% over twelve months against 3.4% at the consumer, core 4.7% against 2.4%. In August itself the two moved identically, 0.4 headline and 0.3 core on both sides. But a month ago that headline gap was 1.4 points, not 2.0. Producer prices reaccelerated from 4.8% to 5.4% while the consumer number sat still. Both sides were pushed by the same thing. Petrol up 3.9% drove over a third of the consumer increase. Diesel up 24.1% drove over a third of the producer goods increase. Consumer energy is up 16.3% on the year, petrol 27.4%, heating oil 52.0%. The standard answer is that a central bank looks through an energy shock, because rates do not produce diesel. So look at where the diesel went in yesterday's release: truck freight up 2.0%, transportation and warehousing up 2.3%. That is the shock leaving the energy line and entering services. Once it is in freight it is in everything that moves, and it stops being the kind of thing you get to look through. The bar has quietly inverted. Data now has to prove a hike is not needed, and this print did not do that. There is nothing else of size on the calendar before Wednesday. One more thing worth sitting with. Warsh's stated complaint is that financial conditions are too loose. $SPY is up 0.62% and $QQQ 0.66% pre-market on this print. Every risk rally between now and Wednesday is another data point for his own argument. That is an uncomfortable loop to be long into. The curve is already splitting on it. $TLT up 0.27% while $IEF is down 0.13% pre-market, which is the front end pricing tighter policy and the long end pricing the slower growth that follows. $XLE down 0.55%, on a day energy drove the entire print, is the odd one out. What would change my read: strip the energy pass-through out and watch what core does. If freight and transport services cool in the September PPI while diesel stays high, the shock stayed contained and the look-through argument survives. If core services keep firming while the annual headline drifts lower, then the annual number is lagging comfort and the Fed will treat it that way. And if they do hold on Wednesday, watch whether the statement leans on energy as the reason, because that tells you they have decided this is supply rather than demand.