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rffrydr
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 Posted: Fri Mar 03, 2006 12:25 am Post subject: JAPAN |
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Core rate up .5%; 3 in a row:
"Mitsubishi UFJ Securities senior strategist Naomi Hasegawa said remarks this morning by Prime Minister Junichi Koizumi fueled conjecture that the central bank will soon end its present policy.
'[Changes in] consumer prices are coming in above zero and we are seeing signs of getting out of deflation,' Koizumi told a parliamentary committee.
His comments were his most positive yet on recent indications that the economy is winning its battle with falling consumer prices. Previously, Koizumi had insisted that it was too soon to say that the economy was coming out of deflation."
Bonds and stocks were short going in. End-of-day showed resiliency, (complaceny?)
Hey Henry, Devil's advocate: with Japanese debt at a Godzilla-sized 160% GDP on the worlds fastest aging population (and most afraid of foreign workers) do they have any choice BUT to reflate their way out? And politicians want a decade for "reforms."
An end to quantiative easing may be announced at the end of Japanese Fiscal Year--but this could take a long, long time to play out. Markets 1st "verdict."
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diesel
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| Posted: Sun Jul 06, 2008 10:34 pm Post subject: |
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Are you sure its unfortunate? Crude exposes the strengths of Japan i.e. its energy efficiency, scientific culture and world class infrastructure.
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rffrydr
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| Posted: Sun Jul 06, 2008 10:04 pm Post subject: |
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There was a buy spike on magic of inflation brought by crude. Unfortunately it was brought by crude.
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HenryTo
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| Posted: Sun Jul 06, 2008 6:42 pm Post subject: |
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| Nikkei now on its 13th consecutive daily losing streak - the longest streak since 1954, when the end of the Korean War caused a slump in Japanese industrial sales to the US military. |
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HenryTo
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HenryTo
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HenryTo
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HenryTo
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HenryTo
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| Posted: Fri Jun 27, 2008 9:13 pm Post subject: |
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Japan hoping to draw in more asset and hedge fund managers - and along with it, more investment capital:
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Japan rejigs tax rules to draw more foreign funds
Fri Jun 27, 2008 8:30am BST
By David Dolan
TOKYO (Reuters) - Japan has relaxed its tax code so foreign asset managers and hedge funds can avoid dual taxation, as part of Tokyo's push to revive itself as a global finance centre.
In a two-step process that began in April with the revision of a cabinet order and finished on Friday, the government has retooled tax rules so offshore funds can avoid being classified as having a "permanent establishment" in Japan.
Commonly referred to as a "PE" in tax law, the classification would force offshore funds -- which already pay taxes in their home countries -- to pay domestic taxes on any returns made in Japan.
Faced with sluggish growth and a rapidly shrinking population, the world's second-largest economy is desperate for foreign investment and is especially keen to woo hedge funds, which have an estimated worth of $2 trillion (1 trillion pounds) globally.
Until now many of the loosely regulated funds have been forced to set up shop as "investment advisory firms" in order to avoid the double tax bill.
"We must admit that Tokyo's presence in international finance has been in decline for some years," an official at the regulatory Financial Services Agency told reporters.
Data from the FSA shows that while the number of investment advisory companies has nearly doubled to more than 800 in the past four years, the number of investment management firms has languished at around 100 for two decades.
The difference is not insignificant, the FSA reckons, as full investment management firms would draw more people and capital into the market.
The legal change allows local entities to avoid being regarded as having a permanent establishment if they are seen as sufficiently independent of the overseas entity.
Critically, the local entity must bear some entrepreneurial risk, such as receiving pay corresponding to returns on the investment.
That means the Tokyo arm of a U.S. hedge would bear entrepreneurial risk if managers were paid based on the performance of their Japan fund.
If the hedge fund met some other criteria it would be deemed an "independent agent" and not subject to dual taxation.
The tax change also underscores Japan's regulatory shift in recent years.
Regulators are increasingly worried that the world's second-largest economy will lag in financial services, losing out to more flexible Asian centres such as Hong Kong and Singapore.
While famous for churning out cutting-edge gadgets, Japan has also become synonymous among foreign investors for hidebound regulation and burdensome taxation.
Restrictions between banks, brokerages and insurance firms were relaxed under a bill passed by Japan's parliament earlier this month, making it easier for companies to market products across divisions. |
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rffrydr
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| Posted: Tue Jun 24, 2008 11:03 pm Post subject: |
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A glimpse of the future in Japanese banks--continuing writing UP what had been written off long before.
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HenryTo
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HenryTo
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| Posted: Sun Jun 22, 2008 12:28 am Post subject: |
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Japanese banks starting to invest overseas again:
http://www.ft.com/cms/s/0/b9448618-3ef0-11dd-8fd9-0000779fd2ac.html
| Quote: | Just a few years ago, Japanese banks were so weakened by their non-performing loans that they were forced to seek help from their western rivals and accept public funds to boost their capital.
The extent of their plight was highlighted when Sumitomo Mitsui Financial Group accepted a Y150bn ($1.4bn) capital injection from Goldman Sachs five years ago, on terms that were considered extremely favourable to the US investment bank.
But the tables have turned and Japanese banks are once again eyeing overseas investments to support their ambitions to become serious players beyond their shores.
The bid by Sumitomo Mitsui Bank, the core bank in the SMFG, to invest about Y100bn in Barclays, “is just the beginning”, of a growing move among Japanese banks to expand overseas, according to Hironori Nozaki, a banking analyst at Nikko Citigroup in Tokyo.
The talks between SMFG and Barclays highlights how Japanese banks are now turning, albeit cautiously, to opportunities overseas. The SMFG move follows on the heels of Mizuho Corporate Bank’s $1.2bn investment in Merrill Lynch.
Having dealt with the non-performing loans that had weighed on them for years, Japanese banks are now sitting on a substantial pile of capital that they have little opportunity to use efficiently in their own market. |
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HenryTo
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| Posted: Sun Jun 15, 2008 11:33 pm Post subject: |
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At long last, the Japanese consumer rises again:
http://www.bloomberg.com/apps/news?pid=20601087&sid=anLGqekBZtLs&refer=home
| Quote: | Jessop argues that just because consumer confidence is weak doesn't mean people will definitely be spending less. ``You need to look at what people do, not what they say,'' he says. Indeed, last quarter's spending surge came in the face of the worst consumer sentiment since Japan's last recession ended in 2002.
The explanation may lie with Japan's hoard of household savings. ``The amount of money involved is almost unimaginably large,'' says Richard Jerram, chief Japan economist at Macquarie Group Ltd. in Tokyo. The Bank of Japan's 1,500 trillion-yen estimate of household wealth -- including bank deposits, cash and investments -- represents roughly three times the country's annual gross domestic product. |
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HenryTo
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rffrydr
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HenryTo
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| Posted: Sun Apr 13, 2008 7:02 pm Post subject: |
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Insider buying at Japan, Inc.:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSW2s9D8DGMM&refer=home
| Quote: | April 14 (Bloomberg) -- The good news about Japanese stocks is corporations are buying back more of their shares than ever before. The bad news is everyone outside of Japan is selling the same equity, spurring concern the market's world-beating rally may fizzle.
Companies from Toyota Motor Corp. to Nomura Holdings Inc. helped spark a 13 percent advance in Japan's Nikkei 225 Stock Average by repurchasing shares trading at the cheapest levels in more than two decades. The Nikkei's rebound since global equities fell to their lowest point this year March 17 is the best performance among benchmark indexes in the 10 largest economies.
International investors, the biggest traders of Japanese stocks, aren't swayed by the record $45.8 billion of share buybacks in the year ended March 31. They unloaded $12.6 billion in shares last month, the most since 1987, as sentiment among the largest manufacturers fell to a four-year low, the yen appreciated and consumer confidence dropped. Three Nikkei rallies of more than 8 percent in the past year have faltered. |
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