Archive for the ‘ Japan ’ Category

Most expensive one-bedroom apartment In The world !

Not surprised the most expensive apartment for sale is in Tokyo

Wow !
Not to shabby at all !

Link below
Most expensive one-bedroom apartment

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Caroline Kennedy poised for Japan Ambassador position

Had to re blog the below from the Washington Post .

Caroline Kennedy poised for Japan

The finishing touches are being applied to the long-anticipated formal announcement that Caroline Kennedy will be the next U.S. ambassador to Japan.

Word is that the administration has formally asked — and Japan is expected to agree — to accept her as the U.S. envoy — a move that comes in the last stages of the lengthy nomination process.

Kennedy’s strong support for President Obama was seen as crucial in his 2008 battle with Hillary Rodham Clinton for the Democratic presidential nomination.

An official White House announcement, which is probably forthcoming shortly, is expected to thrill the Japanese public, which likes their American ambassadors to be superstars — although older men have been the norm. Kennedy’s predecessors include luminaries such as Senate majority leader Mike Mansfield, former vice president Walter Mondale, former House speaker Tom Foley and former Senate majority leader Howard Baker.

Word of this latest step was first reported late Friday by the Nelson Report and then this morning by the Japanese press.

Correction: An earlier version of this post incorrectly said that Japan has given its formal diplomatic agreement to accept Caroline Kennedy as the U.S. envoy. It is expected to agree but has not yet done so.

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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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