Archive for the ‘ Japan ’ Category

Central Bank says Japan is ‘recovering’

The Bank of Japan issued a more upbeat assessment of the Japanese economy on Thursday, saying for the first time in more than two years that conditions were recovering.

TBOJ stuck with a pledge to expand the monetary base by 60 to 70 trillion yen ($709 billion) per year, as the economy is starting to recover moderately.

On this news the yen strengthened vs the USD to 98.76 .

What’s key for Abenomics is Prime minster is to win the July 21 election , this would end the split parliament , this would enable Abe to push through changes to increase the competitive of Japan economy .Lets see!

Abenomics has had such a great effect on changing the mood in Japan , that’s a huge success but isn’t enough to make Japan grow .

Bank of Japan – Economy is indeed recovering
For the first time in more than two years, the Bank of Japan issued an optimistic statement about the state of the economy, saying that conditions were recovering.

In a self-praising move, the BoJ said that the aggressive monetary easing measures it implemented in April are working to stimulate the economy and reverse consumer-price deflation.

Following a two-day policy meeting, the bank said in a statement that, “Japan’s economy is starting to recover moderately”.

This therefore signals that the central bank is unlikely to take additional steps soon.

The announcement marks the first time since early 2011 that the bank formally described the economy as being on an expansionary path. In fact, the bank’s official view has steadily brightened over the past six months.

Under Governor Kuroda, who took over last March, the BoJ has been pumping an unprecedented amount of money into the economy through increased purchases of government bonds. The board said on Thursday that it would stick with its goal of expanding Japan’s monetary base at a rate of Y60tn to Y70tn a year.

Following the announcement, the yield on the 10-year Japanese government bond has traded in a tight range between 0.79 and 0.96% for nearly two months now.


Tony Evans

IMF raises growth for Japan

On Tuesday IMF raised its economic growth estimate for Japan in 2013 . This is due to Abenonics effect on the economy , USA &China and world growth was reduced .

IMF projected that the Japanese economy will grow 2.0 % this year in terms of inflation-adjusted gross domestic product, up 0.4 %point from its April forecast . They saw growth for 2014 reduced based on global environment .

The IMF also projected the global economy will expand 3.1%this year, down from its earlier estimate of 3.3 percent, before growing 3.8 percent in 2014, also down from its earlier forecast of 4.0 percent!
As always some do better than others ,

Abenonics has taken effect now lets see if the policy changes will come or this can easily be Changed to the good or bad .

Tony Evans
Tokyo

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Olympus scam: Former executives sentenced to prison –

Abenomics might be making Japan economy move again . One place were Japan needs to look at is the corporate culture as its not the best is transparency .

Reading the below reminded me that in a country where technology is at the cutting edge , corporate governance is like a Walkman in a iTunes world !

Many scams / irregular accountancy is common place .

Lets see if Abenomics 3rd arrow hits this target .

 

Tony Evans ,

Olympus scam: Former executives sentenced to prison

Three former Executives of Olympus have been sentenced to a suspended jail term for their role in the infamous accounting scam, after pleading guilty last year to falsifying accounts to cover up losses of $1.7 billion.

Former Olympus Chairman Tsuyoshi Kikukawa and Executive Hideo Yamada were given a three-year sentence, whilst Executive Hisashi Mori received a two-and-a-half-year sentence.

Olympus, the company, was ordered to pay $7 million in fines – in the scandal that is dubbed one of the biggest financial scams in Japan’s history.

The Olympus scam came to light in 2011, after then Chief Executive Michael Woodford was dismissed from his post after challenging Chairman Kikukawa and the board, over suspiciously large payments related to acquisitions.

This then led to an investigation being launched, which later revealed a cover-up of losses dating back to the 1990s.

The Chairman, the former Executive Vice President and the former Auditing Officer mentioned above were then arrested in February last year and later indicted on suspected violation of the Financial Instruments and Exchange Act. In September last year, all three had admitted to hiding losses.

Naturally, the scam also hit Olympus shareholders, as the firm lost almost 80% of its value in the aftermath of the revelations.

However, on a lighter note, Analysts commented that there have been signs that Olympus may be recovering from the scandal, after announcing a major overhaul and entered into an alliance with electronics giant Sony to boost its share of the global medical equipment market.

 

http://www.bloomberg.com/news/2013-07-03/ex-olympus-chairman-gets-suspended-sentence-for-accounting-fraud.html

http://www.bbc.co.uk/news/business-23156879

 

Profits And Growth – Is Japan On The Right Track With Abenomics – iExpats

Just saw this article on Abenomics and how’s it’s helping the country move forward .

Good read

Tony Evans

Japan

Profits And Growth – Is Japan On The Right Track With Abenomics – See more at: http://www.iexpats.com/profits-and-growth-is-japan-on-the-right-track-with-abenomics/#sthash.SSomEQG5.dpuf

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Japan exports improve most since 2010 over 10%

We seeing Abenomics arrow 1 & 2 having a huge effect on the exports.
That’s one full quarter of improving result , showing that the market is going right way .

Lets hope this continues .the big test will be the up and coming election , if Abe wins then we can see some proper structural changes , if he gets 2/3 majority we can see some constitutional changes !

The third arrow missed the target the first time hope his next aim is better

Japan exports improve most since 2010.

It has been three years since Japan enjoyed this level of exportation. In May, shipments shot up 10.1% from the previous year, marking the third consecutive month of improvement.

Shipment exports picked up in key markets such as the US, rising 16.3% from a year earlier, whilst shipments to China increased 8.3%.

A weaker Yen boosted exporters’ business in May, as it made Japanese goods cheaper overseas, thus increasing profits in an industry that Japan largely depends on.

Such positive date therefore boosts Prime Minister Shinzo Abe’s plan to revive the economy.

Morgan Stanley Analyst Shuji Tonouchi explained that the breakdown shows that export volumes are still a little weak, but demand from the United States is ‘doing well’. Overall, he added, “We can certainly say that exports are headed in the right direction”.

On the other hand, imports also rose by 10% in May from a year ago and therefore, the trade balance came to a deficit of 993.9bn yen. This marks the 11th straight month that Japan has posted a deficit, as energy import costs continue to be high after nuclear plants were shut down.

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Dollar’s upside capped at ¥95 level | The Japan Times

Without a clear policy from both sides, FED on wether it will start to taper QE and when . then from Abe on his policy on his 3 arrow . Abe will do nothing until the election is over .

Until then 95 will be the norm , but personally I see the USD strengthening in the short term ,commodities weakening also .

Tony Evans

Dollar's upside capped at ¥95 level | The Japan Times.

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Japan vs Wales match in Tokyo

As it stands at half time

Japan 6 – Wales 3

Watching Wales vs Japan reminds of the bellow poem ,

Lets finishing the Japan tour in a high

To be born in Wales,
Not with a silver spoon in your mouth,
But, with music in your blood
And with poetry in your soul,
Is a privilege indeed.

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Interviewed for BBC on what Wales can lean from Japan & Abenomics( Welsh & English translated )

BBC Article – ‘Mynd allan i werthu, nid i ofyn’
BBC Article – Going out to sell, not to ask'( translated by Google)

Translated English Article first .
Welsh Article after

Going out to sell, not to ask ( translated by Google)

Wales needs to do more to develop indigenous businesses, along with the encouragement of foreign investment, according to one Welshman who works as a financial expert in Japan.

Tony Evans, originally from Penrhyndeudreath, settled in Tokyo for eight years.

As the Welsh Government trade mission began in Japan, says Mr Evans said: “Companies in Japan with a lot of cash on their balance sheets, so they look for investments but they want something it’ll do brass, it does’ they do not invest just to invest. ”

“They’ve invested a lot in Britain a lot already … in manufacturing, cars … they look at nuclear energy …

“Over 400 years of relations between Britain and Japan this year (the East India Company traveled to Japan in 1613), that is a terrible one big thing, and they put a lot of emphasis on the relationship they’re know that is safe. ”

Optimism
Continue reading the main story
“Start Quote
It wants to go out and say what the Government can offer to Japan and go out and sell – not going out to ask, but going out to sell ”
Tony Evans
Financial Specialist in Japan
There has been very significant economic growth during “economic miracle” Japan in the 60s, 70s and 80au’r twentieth century. Japan economy average growth slowed in the nineties, but continued to grow at the beginning of the new millennium before falling into recession three times since 2008 – the last time in 2011 after the earthquake and tsunami .

But Tony Evans is optimistic about the economic future of his adopted country, mainly because of the attitude of the Prime Minister, Shinzo Abe:

“The prime minister, has said that doing something about it – Japan has been in recession for twenty years, and people are fed up.

“The Abe wants the country to grow more, want to make an investment, wants to change the way things are happening here and now he has put Kuroda at the Bank of Japan and he is exactly the same …

“One thing a lot of people does not know, it was Kuroda, governor of the Bank of Japan, at Oxford university and therefore has a western attitude towards policies, and that is a good thing in Japan – Japanese face with western policies. ”

Lessons from Japan
So if Japan would benefit from some aspects of western why Wales can learn from Japan?

According to Tony Evans, would be more apprenticeships boost for the Welsh economy. It is a system that is highly successful in Japan said. It is also necessary to change attitudes of students and graduates:

“There has been too much emphasis on getting people to go from universities within the Civil Service, to go into a job not to create jobs, the emphasis on going to university to get a degree in something, not a lot of apprenticeships, tase more skills so then the economy (Welsh) raises its own … ”

It offers the following advice to Edwina Hart at the beginning of her visit to Japan: “We need to go talk to companies at home here already.’s British Chamber of Commerce here, St. David’s Society here.

“There’s a lot of connections here, and wants to go out and say what the Government can offer to Japan and go out and sell – not going out to ask, but go out and sell.”

‘Growing existing sector’
While he supported any effort to attract new investments from Japan to Wales, living away from home has given another perspective to Mr Evans at what Wales should concentrate in order to grow its economy in the future.

“Having investments from outside is one thing, but we also need to work more with businesses, and universities, for more entrepreneurship.”

He also argued in favor of focusing on specific sectors – technology is an obvious one says, but also “natural resources, new energy, green energy, ma ‘That’s one thing.’s Still a load of coal, things that they’d be can do.

“A lot of good land in Wales to grow, to raising livestock. The world is growing, and people want to eat – Wales could do better in the food sector. Growing sector is already there and making of ‘ n more.

“As the middle class expands, there are 2 billion people want to get into the middle class, as they come in, so they will change their attitude towards food. Not enough food to go round the world, Wales place with good land, with the skills to move forward. ”

Ideas that the Welsh Government chew on them? It may already be thinking along similar lines – Abergavenny Fine Foods is a food company, Teddington Engineered Solutions and supplying equipment for the power industry is part of the trade mission.

Alongside them on the trip, companies Clogau Gold, ISCA UK that produce chemicals, which IQE produces semiconductors (SEMICONDUCTORS), Reid Lifting is lifting equipment development, design and Weaving Mill company Tregwynt, and clinical research company Simbec Research.

Mynd allan i werthu, nid i ofyn’

10 Mehefin 2013 Diweddarwyd 07:06
‘Mynd allan i werthu, nid i ofyn’

“Mae angen mwy o bwyslais ar dechnoleg a defnyddio technoleg”
Parhau gyda’r brif stori
Straeon Perthnasol

Angen i Gymru fod yn amlwg ar fap y byd Watch
Yr economi yng Nghymru
Adran hybu busnes o dan y lach
Mae angen i Gymru wneud mwy i ddatblygu busnesau cynhenid, ochr yn ochr ag annog buddsoddiad o dramor, yn ôl un Cymro sy’n gweithio fel arbenigwr ariannol yn Japan.

Mae Tony Evans, sy’n wreiddiol o Benrhyndeudraeth, wedi ymgartrefu yn Tokyo ers wyth mlynedd.

Wrth i daith fasnach Llywodraeth Cymru gychwyn yn Japan, dywed Mr Evans: “Mae cwmnïau yn Japan hefo llwyth o arian ar eu balance sheets, felly maen nhw’n edrych am fuddsoddiadau ond maen nhw eisiau rhywbeth neith neud pres, wna’ nhw ddim buddsoddi jyst er mwyn buddsoddi.”

“Maen nhw wedi buddsoddi lot ym Mhrydain lot yn barod… yn manufacturing, ceir… maen nhw’n edrych ar ynni niwclear…

“Mae dros 400 o flynyddoedd o berthynas rhwng Prydain a Japan flwyddyn yma (teithiodd yr East India Company i Japan yn 1613), mae hynna’n un peth mawr ofnadwy, ac maen nhw’n rhoi lot o bwyslais ar berthynas ma nhw’n gwybod sydd yn saff.”

Optimistiaeth
Parhau gyda’r brif stori

Start Quote

Mae eisio mynd allan a dweud beth y mae Cymru yn gallu ei gynnig i Japan a mynd allan a gwerthu – nid mynd allan i ofyn, ond mynd allan i werthu”

Tony Evans
Arbenigwr ariannol yn Japan
Bu twf economaidd sylweddol iawn yn ystod “gwyrth economaidd” Japan yn 60au, 70au ac 80au’r ugeinfed ganrif. Arafodd twf cyfartalog economi Japan yn y nawdegau, ond parhaodd i dyfu ar ddechrau’r mileniwm newydd cyn syrthio i ddirwasgiad deirgwaith ers 2008 – y tro diwethaf yn 2011 wedi’r daeargryn a tsunami.

Ond mae Tony Evans yn optimistaidd ynghylch dyfodol economaidd ei wlad fabwysiedig, yn bennaf oherwydd agwedd y Prif Weinidog, Shinzo Abe:

“Mae’r prif weinidog, wedi dweud bod rhaid neud rhywbeth amdano fo – mae Japan wedi bod mewn dirwasgiad ers ugain mlynedd, ac mae pobl wedi cael llond bol.

“Mae Abe eisiau cael y wlad i dyfu fwy, eisiau neud buddsoddi, eisiau newid y ffordd mae pethau’n digwydd yma a nawr mae e wedi rhoi Kuroda yn y Bank of Japan ac mae e’n union yr un peth…

“Un peth dydy lot o bobl ddim yn gwybod, roedd Kuroda, llywodraethwr Bank of Japan, yn Rhydychen yn y brifysgol ac felly mae ganddo agwedd orllewinol tuag at bolisïau, ac mae hynna’n beth da yn Japan – polisïau gorllewinol gydag wyneb Japaneaidd.”

Gwersi o Japan
Felly os ydy Japan yn elwa o rai agweddau gorllewinol, beth all Cymru ei ddysgu o Japan?

Yn ôl Tony Evans, byddai cael mwy o brentisiaethau yn hwb i economi Cymru. Mae’n system sy’n hynod lwyddiannus yn Japan meddai. Mae hefyd angen newid agweddau myfyrwyr a graddedigion:

“Mae gormod o bwyslais wedi bod ar gael pobl o’r prifysgolion i fynd fewn i’r civil service, i fynd fewn i job nid i greu jobs, pwyslais ar fynd i brifysgol i gael gradd mewn rhywbeth, dim lot o apprenticeships, tase mwy o sgiliau fel yna byddai’r economi (Gymreig) yn codi ei hun…”

Mae’n cynnig y cyngor canlynol i Edwina Hart ar ddechrau ei hymweliad â Japan: “Mae angen mynd i siarad hefo cwmnïau o gartre’ sydd yma yn barod. Mae Chamber of Commerce Prydeinig yma, mae Cymdeithas Dewi Sant yma.

“Mae yna lot o gysylltiadau yn fan hyn, ac mae eisio mynd allan a dweud beth y mae Cymru yn gallu ei gynnig i Japan a mynd allan a gwerthu – nid mynd allan i ofyn, ond mynd allan i werthu.”

‘Tyfu sector sydd yno’n barod’
Tra ei fod yn cefnogi unrhyw ymgais i ddenu buddsoddiadau newydd o Japan i Gymru, mae byw oddi cartref wedi rhoi persbectif arall i Mr Evans ar yr hyn y dylai Cymru ganolbwyntio arno er mwyn tyfu ei heconomi yn y dyfodol.

“Mae cael buddsoddiadau o’r tu allan yn un peth, ond hefyd mae angen gweithio mwy hefo busnesau, a phrifysgolion, i gael mwy o entrepreneurship.”

Roedd hefyd yn dadlau o blaid canolbwyntio ar sectorau penodol – mae technoleg yn un amlwg meddai, ond hefyd “natural resources, egni newydd, egni gwyrdd, ma’ hynna’n un peth. Mae dal llwyth o lo, pethau y basen nhw’n medru neud.

“Ma’ lot o dir da yng Nghymru i dyfu, i fagu anifeiliaid. Mae’r byd yn tyfu, ac mae pobl eisio bwyta – gallai Cymru neud yn well yn y sector fwyd. Tyfu sector sydd yno’n barod a gwneud o’n fwy.

“Wrth i’r dosbarth canol ehangu, mae 2 biliwn o bobl eisiau dod mewn i’r middle class, wrth iddyn nhw ddod fewn, neith eu hagwedd at fwyd newid. Does dim digon o fwyd i fynd rownd y byd, mae Cymru yn lle hefo tir da, hefo’r sgiliau i fwrw ymlaen.”

Syniadau y dylai Llywodraeth Cymru gnoi cil arnyn nhw? Efallai ei bod eisoes yn meddwl ar hyd llinellau tebyg – mae cwmni bwyd Abergavenny Fine Foods, a Teddington Engineered Solutions sy’n cyflenwi cyfarpar ar gyfer y diwydiant ynni yn rhan o’r daith fasnach.

Ochr yn ochr â nhw ar y daith, mae cwmniau Aur Clogau, ISCA UK sy’n cynhyrchu cemegau, IQE sy’n cynhyrchu lled-ddargludyddion (semiconductors), Reid Lifting sy’n datblygu cyfarpar codi, cwmni dylunio a gwehyddu Melin Tregwynt, a chwmni ymchwil clinigol Simbec Research.

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Nikkei Steady Before BOJ Meeting Outcome, steady before she booms?

From yesterday BOOM of over 5% gain , the Nikkei was flat this morning in anticipation of the Bank of Japan meeting conclusion .

The yen declined against the dollar and euro as traders prepared for the Bank of Japan’s monetary policy decision today . Yen edged closer to 100 mark

Investors are cautious before knowing what’s going on . Central bank Governor Haruhiko Kuroda is expected to keep QE. But I believe he will extend QE for another 1 year .

What you expected last year from the BOJ was nothing , but now it’s any body’s guess ,

Lets see

Tony Evans

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Abenomics helped to boost by revised data , BOOMING

Japan's hopes for recovery boosted by revised data.

Japan has revised its growth numbers between January and March, adding to hope of recovery for the world’s third-largest economy.

The Japanese economy grew 1% in the first three months of the year, an increase from the primary estimates of 0.9%.

The cabinet office said that this would indicate a yearly growth of 4.1%.

The revision also had an encouraging effect on investors – the Nikkei 225 index jumped over 3% in early trade.

Martin Schulz of the Fujitsu Research Institute told the BBC that the policy measures introduced by Prime Minister Shinzo Abe and the Japanese central bank to drag the economy out of stagnation, spur growth and strengthen the yen – which had fallen by nearly 25% against the US dollar last November – were finally starting to be felt.

These measures included doubling the national money supply and keeping long-term interest rates low in order to boost domestic demand and generate higher consumer prices.

In light of the revised data, which indicated an increase in domestic demand, analysts have said that the Japanese policymakers appear to have had the right idea.

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