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However, critics argue that at each of these businesses only a tiny proportion of staff are actually using the AI, and that those who do so are only using it to a very limited extent.

Prof Yasushi Ogasawara, an expert on Japan’s social system and technology at Meiji University, says there aren’t enough tech-savvy people in the workforce.

“Although the Japanese like playing with gadgets such as smartphones, digital literacy is low here,” he says.

This is highlighted by one report earlier this year which said Japan faced a shortfall , externalof almost 800,000 IT professionals by 2030.

Many companies are also said to struggle with out-of-date computer systems, with around 60% more than 20-years-old.

Moreover, Ogasawara adds that Japanese companies are under more pressure to avoid fuelling unemployment than they are to develop AI which could result in job losses.

“The government is talking about AI, re-skilling, digital skills, but in reality, it is difficult to adapt human resources to digital skills because the top priority is to maintain full employment,” he says.

But there is a shift in recruitment, with some companies now prioritising “AI literacy” in their new graduate hiring.

In the private sector, larger firms such as Kanematsu, a major general trading company, are hiring savvy graduates such as Uta Yamaguchi who joined in April.

“I use AI quite often at work,” she says. “Many of my colleagues use it a lot. For writing emails for my boss, summarising complicated documents, meeting recording and summarising.”

But, by contrast with the US, she says AI systems that can autonomously handle multi-step work are still virtually unheard of in Japan.

However, her employer, known for its forward thinking, now has them onboard.

Ogasawara says that “change in Japan is limited”. He adds: “Japanese society expects painless reform, so I think it can be said that drastic reform is difficult, to say the least.”

Disruption may be a dirty word in Japan, but without it the productivity gains the country needs could remain elusive.

Operator

Good afternoon, ladies and gentlemen, and welcome to the Nortech Systems Incorporated Second Quarter 2026 Earnings Conference Call. With me on the line today are Jay Miller, President and Chief Executive Officer; and Andrew LaFrence, Chief Financial Officer and Senior Vice President of Finance. [Operator Instructions]

At this time, it is my pleasure to turn the call over to Andy LaFrence.

Andrew LaFrence
CFO & SVP of Finance

Thank you, Jenny, and welcome, everyone. Jay will begin today’s call with a review of our operations, recent developments and business outlook. I will then review Nortech’s second quarter financial results before turning the call back to Jay for closing comments. After that, we will open up the line for questions.

Before we continue, please note statements made during this call may be forward-looking statements regarding expected net sales, operating results, future plans, opportunities and other company expectations. These estimates, plans and other forward-looking statements involve unknown and known risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this call. These risks, including those detailed in our most recent SEC filings, may be amended or supplemented. The statements made during this conference call are based upon information known by Nortech as of the date and time of this call, and we assume no obligation to update the information in today’s call. You can find Nortech’s complete safe harbor statements in our SEC filings.

And with that, I will turn it over to Jay for his opening comments. Jay?

Jay Miller
President, CEO & Director

Thank you, Andy, and good afternoon, everyone. We appreciate you joining

Operator

Good afternoon, ladies and gentlemen, and welcome to the Inovio Second Quarter 2026 Financial Results Conference Call. [Operator Instructions] This call is being recorded on Wednesday, August 12, 2026.

I would now like to turn the conference over to Jennie Willson, Director of Communications. Please go ahead.

Jennie Willson
Director of Communications

Thank you. Good afternoon, and thank you for joining the Inovio Second Quarter 2026 Financial Results Conference Call. Joining me today are Dr. Jacqui Shea, President and Chief Executive Officer; Dr. Michael Sumner, Chief Medical Officer; Steven Egge, Chief Commercial Officer; and Peter Kies, Chief Financial Officer.

Today’s call will review our corporate and financial information for the quarter ended June 30, 2026, as well as provide a general business update. Following prepared remarks, we will conduct a question-and-answer segment. During the call, we will be making forward-looking statements regarding future events and the future performance of the company.

These statements relate to our business plans to develop Inovio’s DNA medicines platform, including the FDA’s ongoing review of our BLA for INO-3107, including the October 30, 2026, PDUFA target date and our recently completed informal meeting with the FDA, our belief that INO-3107 fulfills the criteria for accelerated approval, the potential benefits of INO-3107, including our belief that it has a positively differentiated product profile, our belief regarding its competitive advantages relative to existing treatments, including PAPZIMEOS and the potential to become the preferred product and new

Kroger has closed at least three dozen stores since announcing plans last year to shutter 60 locations that were not “delivering sustainable results” by the end of 2026. 

The Cincinnati-based grocery giant did not release a full list of stores or banners slated for closure, but online searches listed 39 locations across nine banners as no longer operating. Local reports also confirmed that many of the locations were part of the broader store overhaul.

As of January 2026, Kroger operated 2,697 supermarkets across 35 states under roughly 20 banners, including Fred Meyer, Fry’s Food and Drug, Harris Teeter, Jay C, King Soopers, Mariano’s, Pick ’n Save, QFC and Ralphs, according to a Securities and Exchange Commission filing. 

The company said the closures are intended to help it “run more efficiently and ensure the long-term health of our business,” according to FOX 26 Houston, which reported that two Houston-area locations were slated to close in April.

KROGER TO BUY POPULAR GROCERY AND PHARMACY RETAILER IN $1.65B DEAL

A Kroger grocery store in Dallas. (Shelby Tauber/Bloomberg via Getty Images, File / Getty Images)

The closures come as Kroger announced plans last month to acquire regional grocery chain Giant Eagle for $1.65 billion, which would add another 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.

The acquisition is expected to strengthen Kroger’s presence across several Midwestern and Mid-Atlantic markets. 

At least three of the impacted locations were or are expected to be replaced by Kroger Marketplace stores as part of the company’s efforts to consolidate operations. Kroger Marketplace stores are larger-format locations that offer an expanded selection of non-grocery merchandise, including clothing, toys, home goods and furniture. 

The impacted locations include: 

Kroger

• Atlanta, Georgia — 2452 Morosgo Way NE
• Brookhaven, Georgia — 3855 Buford Hwy. NE
• Decatur, Georgia — 3479 Memorial Dr.
• Alpharetta, Georgia — 11877 Douglas Rd.
• Peoria, Illinois — 3311 N Sterling Ave.
• South Bend, Indiana — 4526 W Western Ave.
• Elkhart, Indiana — 901 Johnson St.
• Louisville, Kentucky — 4211 S 3rd St.
• Bossier City, Louisiana — 4100 Barksdale Blvd
• Kingsport, Tennessee — 1664 E Stone Dr.
• Houston, Texas — 239 W 20th St.
• Houston, Texas — 9325 Katy Fwy.
• Houston, Texas — 2300 Gessner Rd.
• McKinney, Texas — 2901 Lake Forest Drive (a new store is planned to replace this location nearby in 2027)
• Spring, Texas — 6060 Farm to Market 2920
• Charlottesville, Virginia — 1904 Emmet St. N
• Abingdon, Virginia — 466 Cummings St.
• Gassaway, West Virginia — 2908 State St.
• South Charleston, West Virginia — 5 River Walk Mall (consolidated last June into a new Kroger Marketplace at 3060 Ray Park Blvd.)
• Dunbar, West Virginia — 981 Dunbar Village (consolidated last June into a new Kroger Marketplace at 3060 Ray Park Blvd.)

SEPHORA JOINS WALMART, TARGET WITH NEW ‘QUIET HOURS’ SHOPPING EXPERIENCE

Giant Eagle operates about 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.  (Allison Farrand/Bloomberg via Getty Images, File / Getty Images)

Fred Meyer

• Tacoma, Washington — 7250 Pacific Ave.

Fry’s Food and Drug

• Mesa, Arizona — 1915 S Power Rd.

Harris Teeter

• Arlington, Virginia — 950 S George Mason Dr.
• Arlington, Virginia — 3600 S Glebe Rd. W100
• McLean, Virginia — 8200 Crestwood Heights Dr.
• Rockville, Maryland — 11845 Old Georgetown Rd.
• Raleigh, North Carolina — 5563 Western Blvd., Suite 6A
• Charlotte, North Carolina — 5706 Wyalong Dr.

Jay C Food Stores

• Shoals, Indiana — 201 High St.

King Soopers

• Centennial, Colorado — 5050 E Arapahoe Rd.

Mariano’s

• Buffalo Grove, Illinois — 450 W Half Day Rd.
• Northbrook, Illinois — 2323 Capital Dr.
• Bloomingdale, Illinois — 144 S Gary Ave.

At least six Harris Teeter locations recently closed as part of Kroger’s broader company overhaul. ( Laura Kalcheff/Corey Lowenstein/Raleigh News & Observer/Tribune News Service via Getty Images, File / Getty Images)

Pick ’n Save

• Glendale, Wisconsin — 1735 W Silver Spring Dr.
• Milwaukee, Wisconsin — 3701 S 27th St.
• Milwaukee, Wisconsin — 2355 N 35th St.
• Oak Creek, Wisconsin — 2320 W Ryan Rd.
• South Milwaukee, Wisconsin — 2931 S Chicago Ave.

QFC

• Mill Creek, Washington — 926 164th St. SE

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FOX Business reached out to Kroger for more information.

Most advertisers experienced Meta’s Andromeda update the way advertisers usually experience algorithm changes: as an unexplained decline.

Reach quietly softened on creative that had been performing reliably, costs drifted upward, and the platform offered little in the way of a clear explanation for why campaigns that worked in one quarter underdelivered in the next.

Street Poller Media Founder and CEO Shane Ginsberg has offered a more specific read on what changed and why the shift structurally favors formats built around unscripted human moments.

According to Ginsberg, the update, which Meta began rolling out in 2025 and expanded through early 2026, reoriented the platform’s algorithm around creative diversity and in doing so effectively merged what had operated as two separate systems. The paid advertising algorithm and the organic content algorithm converged into one shared evaluation framework.

The practical consequence is significant. A paid advertisement placed in a Reels feed is now judged on largely the same terms as organic content competing for the same slot. If the creative does not look like something that could plausibly perform on its own merits, it gets suppressed with reduced reach regardless of how much budget sits behind it. Media spend still buys distribution, but it no longer compensates for creative that audiences would scroll past if it appeared without payment behind it.

Ginsberg has framed this as the confirmation of something he had been describing for years before Meta gave it a name. His position was that paid and organic content were always going to converge, for a reason that has more to do with platform incentives than with creative philosophy. Simply put, platforms have limited reason to keep rewarding advertising that only reaches audiences because someone paid for it, particularly when their own engagement data consistently shows users respond better to authentic content that is not obviously an ad.

Street interview ads, built from the same unscripted natural footage that performs well organically, were positioned to benefit from that convergence before most advertisers had to think about it. That was not foresight about a specific product update so much as a bet on a direction, but the bet paid off in a fairly direct way.

The second half of the update matters as much as the first and it is the part advertisers more frequently miss. Meta’s guidance increasingly penalizes accounts that concentrate spend in a single creative type, which means running one format exclusively causes reach degradation even when that format performs well in a vacuum. Diversity itself became a ranking input.

Ginsberg has been notably direct that this applies to his own format as well. He has said street polling is not intended to replace everything else a brand runs. To this point, his agency deliberately repurposes street poll footage into static image assets so clients maintain format variety rather than over-concentrating. That is a somewhat unusual position for someone selling a single format to take and it follows from the algorithm mechanics.

The broader implication for marketing organizations is structural rather than tactical. Under the current system, brands can no longer sensibly treat organic content strategy and paid advertising strategy as separate disciplines run by separate teams with separate creative approaches. The qualities that make a video shareable without payment are increasingly the same qualities that determine whether a paid version of it reaches anyone.

For organizations where those functions sit in different departments with different budgets and different reporting lines, that convergence is likely to be more disruptive than any individual creative recommendation, since it implies the separation itself has become a liability.