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Boys and girls, here are some key links (most of them are external pdfs opening in new windows) and comments, Note that KKEETTOO is not copyright holder of the external documents : 

LAST UPDATED Nov 2005

In the 6 Oct 2005 Edition of the Economist the cover story was "The sun also rises" and the edition contained a 15 or so page survey on Japan, written by Bill Emmott the Editor in Chief of the magazine since 1993 and their former Tokyo correspondent 1983 - 1986. Here is the lead article on a fair use basis. If you know me personally, here is more...

Some regional goodies: Optimism takes root: Asia Pacific M&A bulletin HTML version / PDF version (PwC July 2005)

The Battle for corporate control - The outlook for M&A in Japan - Economist intelligence Unit July 2005. The reports (soft copy each language file is 26mb English / Japanese ) was launched at a conference in Tokyo 6th July. (The author of the report Ron Bevacqua.) This is compulsory reading as there have been quite a lot of action and soul searching in Japan, mostly triggered by Livedoor. If you are lazy, here is the executive summary.

Lest we loose focus, you don't know what message will come out until the bean sprouts !, I just recently red this important one on BBC regarding a Japanese innovation.

All you need to know about doing business in Japan if you like presentations in pdf format   M&A in Japan: Opportunities for Foreign Multinationals (PwC December 2004)

 

Look who is talking: The latest and greatest ((-:. All you need to know about Japan in 2000 words in one pdf file Foreign related Mergers and Acquisitions activity in Japan. September 2004

Japan is the cover story in the International Edition of Business Week dated 14 June 2004.  It is roughly a 2 page article excluding the various graphs and photos. I think it is a well written article that helps both insiders and outsiders to put recent developments into perspective.  

http://www.business.com/magazine/content/04_24/b3887002.htm

 

We are in the middle of the hanami (cherry blossom) season!

As you know, by tradition, the financial year starts 1 April in Japan. There is an excellent summary in the English edition of the Nikkei website of the major changes introduced as of this new financial year.


http://www.nni.nikkei.co.jp/FR/TNKS/TNKSHM/newsys04_2004.html

It is early to tell what will have the biggest impact but the prices are now indeed meant to include sales tax causing headaches for many retailers on "raising" their prices or absorbing the change...... I mean who wants to "reprice" a 100 yen item to 105 ?

some of my current research interests, will be commenting on these later in more detail

http://www.investjapan.org  - The new official superportal ??? - run by Jetro (recorded message from the PM too !!!!!)

there are now, new, inflation linked bonds

political stability - Koizumi starts 4th year in office in April 2004, contrast that with Korea or Taiwan....

Japan pharma: lots of M&A related "noise" in the papers

More assertive international stance e.g. oil investment in Iran despite "USA advice" and picking up a fight with Microsoft (just like the EU)

"...previously unseen levels of corporate restructuring..."

I have been beating this drum for quite a while...

the Financial Times run a 6 page editorial "Investing in Japan" in the print edition on 24 March 2004. This FT special report has an impressive coverage and I highly recommend that you have a look at the first two articles at least. Look it up on Factiva or go directly to the FT site if you are a subscriber. (or probably you sign up for a free trial too)

http://news.ft.com/reports/investjapan2004

Taken as a whole, the report is  relatively well balanced and addresses a huge number of old
and emerging issues about pros and cons of foreign business in Japan. It also has mini case studies and some great quotes that echo my update I sent in February based on The Economist cover story "Japan is flying again"

more on the FT special

as referred to in the FT special "Investing in Japan" published 24 March 2004, "the Fukao" report (Foreign Direct Investment and the Japanese Economy) was published on October 29, 2003, here is the background: (source ACCJ)  

".......the American Chamber of Commerce in Japan (ACCJ) commissioned Kyoji Fukao
of Japan's Hitotsubashi University to analyse inward investment. He
concluded: "Some critics suggest more FDI may mean fewer jobs rather than
more. They fear foreign companies acquiring Japanese companies will
rationalise operations by cutting staff more than attrition, bankruptcy or
Japanese buyers would. These downbeat outcomes are not borne out by the
actual data."


Link to the full report (35 pages)

http://www.accj.or.jp/document_library/1067586108.pdf


Link to the executive summary of the Fukao Report (7 pages)

http://www.accj.or.jp/document_library/1067586167.pdf

Invest in Japan (Jetro) 2003 - Probably their best shot yet

The biannual Nomura summary on Japan M&A: Trends in Japanese Company Related M&As In 2003 January 2004

Private Equity (PwC) 2003

Japan at the Crossroads Nomura May 2003 - getting there and by the way, Nomura Research publications might come candy

M&A in Japan "advanced users article" (PwC) January 2004

"Amaczi Research" (-:, Morning call note:  Sell Microsoft, buy Koizumi (1 Dec 2003)

Evolution of the Japanese Commercial Code (1947) published by Jetro in March 2001

 with best regards as always, Amaczi (-:

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