TOKYO (Nikkei)--The government is weighing plans to accept Vietnamese nurses and caregivers for positions in Japan, expanding a program currently open to only Indonesians and Filipinos under economic partnership agreements.
Basic guidelines for the proposed change will be taken up during a cabinet meeting Tuesday addressing a regional trade pact and economic partnership agreements. An official decision about accepting Vietnamese nurses and caregivers is expected by September's end, the deadline for negotiations between Japan and Vietnam to revise their economic partnership pact. But the two are likely to reach an agreement on the matter, in exchange for Vietnam's cooperation in creating a nurse certification system and support for Japanese-language training.
Japan is expected to solicit around 200 nurses and caregivers from Vietnam annually, with the first group to arrive starting in fiscal 2013. Like their Indonesian and Filipino counterparts, the Vietnamese personnel would eventually be required to take national examinations to obtain Japanese licenses in their fields.
At the same time, Japan will encourage those who returned home because they did not pass the exams on the first attempt to try again. Tokyo hopes to support test preparation by offering learning programs online and conducting practice exams at Japanese embassies in the test takers' home countries.
It will also strengthen Japanese-language education programs for candidates before they arrive. For instance, it will help set up language classes at local nursing colleges and hold explanatory seminars about Japan's nursing and caregiver fields. The Health and Welfare Ministry predicts the nation will face a shortage of up to 200,000 nurses and 1.27 million caregivers in 2025 as the population ages. Japan has accepted around 1,100 nursing and caregiver candidates from Indonesia and the Philippines, but only 19 have passed national certification exams.
Source:The Nikkei June 21,2011
TOKYO (Dow Jones)--Taking another unorthodox step to support the economy in the wake of the March 11 disaster, the Bank of Japan decided to expand its lending program aimed at spurring growth in high-potential industries by Y500 billion as well as further relax the already loose conditions in which it provides funds.
At the end of Tuesday's two-day policy board meeting, the BOJ also upgraded its assessment of the economy for the first time in three months but kept the target for its policy rate -- the unsecured overnight call loan rate -- unchanged in a range of 0.0%-0.1%.
Under the special lending facility that it set up last year, the BOJ will set up new categories to include equity investments and loans without real estate collateral or guarantees. The central bank will lend up to Y500 billion under the new categories -- separate from the Y3 trillion ceiling in the facility's existing framework.
"With a view to further encouraging financial institutions' efforts, the bank deems it appropriate to focus on supporting their provision of equity-like funds and loans without conventional collateral or guarantees," the central bank said in a statement released together with its rate decision.
The central bank upgraded its assessment of the domestic economy for the first time since March. While the BOJ still considers Japan's economy to be under downward pressure, mainly on the production side, as a result of the March 11 disaster, it now sees "some signs of picking up."
"Although such downward pressure remains, production and domestic private demand have recently been showing some signs of picking up, with supply-side constraints starting to ease and household and business sentiment improving somewhat," the BOJ said.
Last June, the BOJ introduced the special lending facility, which provides up to Y3 trillion in loans to private banks for one year at a 0.1% interest rate, specifically to lend to 18 high-growth sectors such as renewable energy, medicine and nursing, and investment in Asia. Banks are allowed to roll over the loans up to three times.
The central bank has lent an estimated Y2.94 trillion via four operations so far and some financial firms have already used up the Y150 billion upper limit per bank. The bank said in the statement that the facility has been effective as a "catalyst" in promoting financial institutions' own initiatives to strengthen the nation's economic foundation.
The policy board decided the duration of loans for the new framework to be two-years in principle, with banks allowed to roll over these loans once. Each financial firm can borrow a maximum of Y50 billion from the BOJ. The market is now focused on BOJ Gov. Masaaki Shirakawa's remarks at a press conference from 0630 GMT about the discussion behind Tuesday's decision and any hints of additional monetary easing.
Source The Nikkei Newspaper June 14, 2011
TOKYO (Nikkei)--Since the March 11 earthquake tied much of northeastern Japan's infrastructure in knots, potential homeowners have been placing a premium on price, accessibility and safety when choosing a condominium.
One weekend in May, a couple in their 30s were chatting with a Nomura Real Estate Development Co. sales representative. They were looking at a large model room in the Proud City Inage Kaigan Residence I complex in the city of Chiba. "The price seems reasonable for this size and equipment," said the man. His wife chimed in: "There is a supermarket on the grounds of the condo. It's convenient."
Nomura Real Estate stopped taking applications from prospective buyers on June 5, when the first set of 222 units was sold. Most of the condos, which have three bedrooms, plus a combined living room, dining room and kitchen, are priced between 28 and 29 million yen. The complex includes commercial facilities and a park, and offers advanced disaster-prevention features. The condominiums' biggest sales point, however, are their "relatively cheap prices," said a Nomura Real Estate official, particularly for first-time buyers.
Safety first
Mitsubishi Jisho Residence Co. put the 29 units comprising Parkhouse Kyodo up for sale on June 4 and soon sold out. The most popular two-bedroom units with a combined dining room and kitchen cost just over 46 million yen each.
The building is said to be on relatively firm ground and less than a 10-minute walk from the Odakyu Line's Kyodo Station. With memories of the quake's devastation still fresh, "Many customers sought accessibility and safety," said an official at Mitsubishi Jisho Residence.
Demand for new condominiums is starting to bounce back. According to a survey released by Real Estate Economic Institute Co. on Thursday, the number of new condominium units put on the market grew 3.6% on the year in May to 3,914 units in metro Tokyo, up for the first time in three months. Of those condominiums, 79.2% of purchase contracts were signed. New condo releases in the Kinki region also edged up 1% on the year to 1,780 units, their first rise in two months.
But the sales recovery is uneven. "High-end units over 70-80 million yen are hard to sell," said Tatsuhiko Hisamitsu, president of Totalbrain Co., a condominium consultancy. High-rise condos around the Tokyo Bay waterfront, in particular, seem less in demand. While developers of seafront complexes maintain their buildings are safe, some customers worry about swaying upper floors and elevators being halted for a long time if an earthquake strikes.
In the Kinki region of western Japan, the most popular condos are located in the city centers of Osaka and Kyoto and are near or directly connected to train stations. A seafront condo complex in Kobe attracted fewer prospective buyers than expected during the Golden Week holiday in May, said an official at one major developer.
Units that are relatively inexpensive, offer easy access to downtown and advanced safety features are proving the hottest sellers. In other words, although people are still buying condominiums, they are becoming more selective. That may start to show up in the financial performance of real estate firms.
Source:The Nikkei June 18,2011
TOKYO (Nikkei)--Listed companies are likely to report pretax profit declines this fiscal year, then stage a sharp recovery in fiscal 2012, according to brokerage forecasts tabulated by The Nikkei. Based on economic indicators and other data, Merrill Lynch Japan Securities Co. expects firms listed on the Tokyo Stock Exchange's first section to suffer a 9.4% pretax profit drop this fiscal year. "The impact of parts and electricity shortages will remain in the July-September quarter, and the global economic outlook is also showing signs of uncertainty," says Masatoshi Kikuchi, chief equities strategist at the brokerage.
Barclays Capital Japan Ltd. forecasts a pretax profit slide of 3-8% for first-section companies. It expects production to return to normal in the October-December quarter as supply chain disruptions dissipate. "But soaring commodities prices could weigh down profit," warns strategist Fumiyuki Takahashi.
Nomura Securities Co. predicts a 0.3% decline, while Daiwa Securities Capital Markets Co. projects a 2.2% fall among major firms. The brokerages, however, expect pretax profits to begin recovering in the fiscal second half and post double-digit gains in fiscal 2012. For instance, Mizuho Securities Co. upgraded on May 20 its forecast for first-section companies from a 14% pretax profit gain to a 26% jump. Merrill Lynch Japan anticipates a 23.7% rise, while Barclays Capital Japan sees a 22% surge in fiscal 2012.
Because bullish profit growth forecasts for next fiscal year help reduce projected price-earnings ratios, Mizuho Trust & Banking Co. chief strategist Takeru Ogihara says, "Japanese shares are relatively solid compared with European and U.S. stocks."
But an earnings pickup in the fiscal second half would be premised on a firm U.S. economy. Manufacturers and others are expected to show a stronger-than-expected recovery in the second half, but share prices are sagging at present on speculation about slowing European and U.S. economies, says Koichi Kurose, chief strategist at Resona Bank.
Source:The Nikkei June 17,2011
HANOI (Nikkei)--The Japanese government will partner with Keihan Electric Railway Co. (9045) and others in a public-private partnership involving railway projects in Vietnam, Mongolia and Indonesia, The Nikkei learned Thursday.
Japan has reached basic agreements with the three nations to pursue four railway projects, which are expected to cost 535 billion yen in total. In addition to supplying railcars and signal systems, the Japanese side will invest in the operations themselves.
The largest of the projects is planned in Vietnam, where a 35km railway will be built to connect central Hanoi with a high-tech industrial park. Keihan Electric Railway will invest in the entity supervising the project. Feasibility studies for the project, which is expected to cost 270 billion yen, will be conducted by Nomura Research Institute Ltd. (4307) and others.
In Mongolia, two subway lines -- one stretching 21km, the other 27km -- will be constructed in central Ulan Bator. Marubeni Corp. (8002) plans to invest in the project, with JGC Corp. (1963) and others set to participate in feasibility studies. The total cost is expected to reach 180 billion yen. In Indonesia, Sojitz Corp. (2768) and infrastructure design firm Japan Transportation Consultants Inc. plan to join a 55 billion yen project to restore a 189km railway in southern Sumatra.
Another project in that nation involves a major train station in Jakarta and is worth an estimated 30 billion yen. Osaka-based Nikken Sekkei Civil Engineering Ltd. and Tokyu Land Corp. (8815) plan to participate.
The four projects are to be included in the Japan International Cooperation Agency's overseas infrastructure-building operations, which began in fiscal 2010 under a public-private partnership structure. Under this arrangement, the public and private sectors join forces to handle infrastructure planning, procurement, construction and management. The Foreign Ministry and JICA are expected to make an official decision about the projects soon.
Feasibility studies for the railway projects will begin in August. The undertakings are expected to be eligible for funds under Japan's official development assistance program, which provides yen loans to foreign nations. The participating Japanese companies will tap loans from JICA and Japan Bank for International Cooperation. The firms aim to recover their investment through exports and by operating the facilities over the medium to long term. Specific investment amounts will be hammered out down the road.
Source:The Nikkei June 17,2011
Although few would argue that curry or doughnuts are dishes best served cold, Japanese companies are banking on tastes changing this summer when consumers are enduring a sweltering summer with little air conditioning in many areas.
House Foods Corp., a major maker of seasonings and processed foods, on May 6 launched a retort-pouch keema curry that doesn't have to be boiled before eating. The "Curry for Summer," as the new product is dubbed, sells for a list price of 149 yen ($1.85) including the consumption tax.
Unlike usual pouch curry, which contains much animal oil and fat that coagulate at normal room temperature, the "Curry for Summer" is made mainly from plant-derived ingredients such as vegetable oil and tomato paste. These vegetable-based ingredients keep the ready-made curry source smooth in texture even without warming, according to the firm. House Foods embarked on developing this untraditional ready-to-eat curry during last year's unusually hot summer, when it received many calls from consumers asking whether its boil-in-the-bag curry can be eaten without boiling.
The company has also received many requests for no-warming-required pouch foods from consumers in areas hit by the Great East Japan Earthquake and tsunami on March 11, which caused power outages and fuel shortages in the affected areas. The new curry is also good for saving for emergencies, said a company spokesman.
On June 1, Akindo Sushiro Co., the operator of a major chain of "kaitenzushi," or conveyor belt sushi shops, started offering cold "chawanmushi," cup-steamed egg custard hotchpotch, at all its 303 stores. The company has created the unconventional chawanmushi, sold at 180 yen including tax, in response to the requests of customers complaining that hot dishes are not appetizing in summer. This summer could be even hotter, with air conditioners turned up as energy conservation measures will be taken in many areas, due to the crippled Fukushima No. 1 nuclear plant.
This cold chawanmushi helps people feel cooler and is a perfect dish for the hot summer, claims a marketing manager at Sushiro. Also on June 1, Donq Co., which operates a chain of 131 bakers, began to sell a new melon pan, or a half-melon shaped bun flavored with artificial melon, designed to be eaten cold. The cream inside the new melon pan, with sales limited to summer and priced at 189 yen, tastes like ice cream when cooled in a refrigerator. Meanwhile, the Mister Donut chain made a major break with its tradition of always offering freshly fried doughnuts when in May it started selling its first-ever "cold doughnuts" at 18 shops across the nation.
Instead of being fried in heated oil, these doughnuts -- there are seven types in all -- are baked in the oven and then cooled in the fridge for more than 30 minutes before being served. The new line of cold doughnuts includes "Dessert Choco," 189 yen, and "Mochi Mochi Pumpkin," 168 yen.
"We hope our customers will enjoy the refreshing taste of these new doughnuts in the hot summer," said a public relations official for the chain, operated by Duskin Co. The doughnut shop chain plans to increase the number of shops offering cold doughnuts in coming months.
Source:Asahi Newspaper June 14,2011
To better reach today's 40-year-olds, marketers will need to overcome a couple of preconceived notions about this segment of consumerdom. While a recent Nikkei survey unexpectedly discovered that these new arafo are willing to spend money - at least on doing things they enjoy - the results also suggest that they make purchasing decisions in a way quite different from older generations.
When the term arafo first gained currency in 2007-2008, the word essentially referred to women around 40 years old who have enjoyed the fruits of the bubble economy and splurge on luxury brand-name goods. Single female professionals were particularly indulgent buyers. But given that people who turn 40 this year simply do not consume so lavishly, the connotations of the word has changed, at least for those in the marketing industry.
The new 40-year-olds - children of the baby boomers - have long been labeled as a docile generation. Born in the year following the 1970 Osaka Expo, they spent most of their adolescent years in a Japan that enjoyed high economic growth, then in one captivated for several years by the bubble economy. By the time they finished school, the economic euphoria had tapered off. They ended up leading their professional lives while the nation got mired in the so-called two lost decades. As they are the oldest among those born during the nation's second baby boom, they also faced competition.
The eras that have defined them have prompted marketers to stereotype them as depressed and lacking energy. But the survey results suggest that this is one of the two major misconceptions that have to be righted; the new arafo generation is actually keener to enjoy every aspect of life than previously thought.
The survey also shows that today's arafo consumers gather information about goods and services as well as make buying decisions in a different way from the former arafos, who are now around 50.
When today's 50-year-olds were in their 40s, marketers primarily influenced them via mass media. For women in this older age bracket, their bibles have been fashion magazines like an.an and non-no. Their male counterparts, meanwhile, inaugurated the country's otaku subculture.
Both 50-ish men and women alike have enjoyed following the latest trends by paying meticulous attention to magazines and television. They are dyed-in-the-wool trend followers and eager to buy big-ticket items to add a sophisticated touch to their lives. Marketers previously believed that the new arafo would have similar characteristics. But this is the second misconception they will have to get over.
Lots of circles
The new arafo generation tends to rely more on word of mouth when making purchases, rather than mass media. Today's close-to 40s do lots of research on the Internet and seek advice from people they trust, including friends and family members. They are also more socially conscious than older generations, with many swayed by ethical and eco-friendly values rather than trendiness. Those age 40 or younger prefer living near their hometowns or in the suburbs rather than urban centers.
And marketers will be able to make use of this analysis long into the future, since the traits of these arafo have been observed even more clearly in younger generations. The lifestyles of today's arafo women are different from those of their parents' generation, when many women devoted themselves entirely to raising their children. They are also different from those of the preceding generation, many women of which have vigorously pursued their careers.
Today's arafo women hop from circle to circle - family, workplace, neighborhood group of moms, old friends from school, etc. - tap diverse sources of information and enjoy every aspect of life by wisely allocating time and financial resources so as not to give up one pleasure for another. They even change clothing and makeup according to specific occasions. Therefore, the more circles to which they belong, the more they are motivated to spend money. While the new arafo women seek comfort among close friends and family members and do things they enjoy, their male counterparts are increasingly drifting away from the traditional notion of masculinity.
In the past, secrets to stimulate middle-aged men's shopping appetite have always boiled down to something manly. Choiwaru, literally "a little wrong," was among the top marketing buzzwords. It is used to refer to refined older men who like the ladies. "Vintage collectibles" and "secret retreat" were also among the top marketing buzzwords. But today's arafo men are the first to get into unisex fashion. They may even feel stressed if the conventional men-do-manly-things ideal remains in the mainstream. These new arafo may mark the advent of a new breed of middle-aged consumers.
Source:The Nikkei Weekly June 13,2011
Slippers, indoor lamps, tea glasses catching on as time goes by Morocco, on the west coast of North Africa, doesn't really conjure much of an image for most Japanese these days. But that could be changing. In the past, entire generations associated the country with the classic 1942 film
"Casablanca." Now Morocco is gaining a whole new audience among today's trendsetters, many of whom are falling for the knickknacks and interior goods from this exotic crossroads of African, European and Arabic cultures.
"Among Parisian fashion insiders," fashion journalist Naoko Takeda said, "Morocco has been the lifestyle trend for about five years now."
Now it is knocking on Japan's door. "There's a tendency in Japan for things to come first, before the lifestyle or culture," Takeda said. That might explain the surging popularity of Moroccan knickknacks. "That ethnic look, which is very new, appears fresh," she said.
Foot decorations
It all began with babouche, a type of indoor footwear. Made from sheep or goat skin, the slippers are typically colorful, adorned with elaborate embroidery and glitter. MoroccoStyle - a Shinagawa Ward, Tokyo-based retailer that can be found at www.morocco-style.com/ - sells original goat-skin babouche made in Morocco. "They became popular quickly, during the past several years," the store's manager said. "We sell about 300 pairs a month." A Tokyo resident in her 30s who purchased a pair said she not only likes the design but also the way they go on so comfortably. Babouche are also selling briskly at the Isetan department store in the capital's Shinjuku Ward. The store has been carrying the slippers since 2008. In fiscal 2010, it sold about 1,500 pairs. Sources say they continue to sell at an even stronger pace, mainly to women in their 20s to 40s who buy them as room slippers. The stay-at-home trend seems to be helping; babouche are becoming must-haves for those who are looking for a way to look stylish at home. Tea vessels Authentically Moroccan knickknacks are also gaining attention. At Morocco Marche, which opened in October in Tokyo's Nishi-Ogikubo district, mint tea glasses sell especially well. The small, ornate glasses come in pink, green and other colors. They are used for serving the sugary tea.
Miyoko Watanabe, a 32-year-old resident of Machida, Tokyo, said she likes looking at pictures of interiors from around the world. One time, she came across a book with a picture of a mint tea glass. "It was something I hadn't seen anywhere else," she said, "and when I did a little searching, I found that the glass was Moroccan. Watanabe now pours her tea from a Moroccan pot into Moroccan glasses she purchased off the Internet.
Moroccan goods have a certain aesthetic. Kaori Miyamoto,
Arabian designs. The store is located in Tokyo's who has been living in Marrakech for 10 years now, runs dear Morocco, which sells goods from the country. Morocco, trendy Daikanyama area. she explains, is largely populated by two ethnic groups: the Arabs and indigenous Berbers. The Arabs are known for their detail-oriented craft work, while the Berbers introduced impressionistic ethnic designs to the culture.
European tinge
"Then the European influence on top of that was what created Moroccan goods," Miyamoto said. In the early 20th century, Morocco was a protectorate under France and Spain. One of the most-coveted interior products from the country is the Moroccan lamp, the metallic frame of which is finely engraved and houses colored glass. Gadan, in Tokyo's stylish Daikanyama neighborhood, sells close to 1,000 of these lamps a year, including those it sells over the Internet. "They are used quite often as accents at restaurants and in apparel stores," said Wakana Nakagawa, who runs the store.
"Moroccan style doesn't have an interior category unto itself, like the iconic Asian or Northern European look, which makes it even more desirable," Nakagawa said. Those new to the Moroccan lamp may want to start with one that uses white or transparent glass because the colored glass can be intense. Even in the world of fashion, the Moroccan sense is beginning to spread. Gallardagalante, a Pal Co. brand, is a specialty clothing store for women that photographed its spring/summer catalog in Morocco. "The theme was the journey of Marco Polo. And although the actual trip was from Italy to China, Morocco was the one place that embodied the entire journey," a company spokesperson said. The store also carries Moroccan bags that combine leather with cloth. The design is complex and relaxing at the same time.
Takeda said Japan's Moroccan boom was triggered by the 2010 film "Sex and the City 2," which was set in the country. The movie inspired a longing for the Moroccan lifestyle - its seemingly slower-pace, down-to-earth rhythms - as well as for its resorts and cultural accouterments.
Source:The Nikkei Weekly June 13,2011
The wedding industry is on the right track after the Great East Japan Earthquake. With the exception of the hard-hit northeast, there were relatively few cancellations immediately after the quake. And now the majority of couples see no reason to postpone the big day.
Strong traffic to bridal fairs seems to refute the notion that consumers are holding back. And some in the hotel industry say the wedding business - which, in addition to being immune to economic forces, has shown itself to be quake-resistant - is the only bright spot in an otherwise gloomy economy. At Escrit Inc. 40 weddings were put on hold right after the earthquake. The firm operates 10 wedding halls in three major cities, including in Tokyo's Aoyama district as well as Nagoya. The postponements were primarily for wedding halls near Tokyo and Shin-Yokohama stations, both of which get large numbers of guests from northeastern Japan.
Waiting to walk the aisle
Novarese Inc., which runs 20 wedding halls around the nation, had about 70 nuptials postponed in the city of Aomori and the northern part of the Kanto region, around Tokyo.That said, most wedding halls have received few outright cancellations. Escrit President Hiroshi Iwamoto went so far as to insist that the quake had virtually no real effect on the wedding industry.
Chinzan-so, a Tokyo wedding facility run by Fujita Kanko Inc., saw 30% of its ceremonies postponed in March. In most cases, the bride or groom, or their relatives, are in the Self-Defense Forces and were dispatched to the disaster areas. Few couples cited self-restraint as a reason for postponing their wedding.
In the hardest-hit regions, of course, the quake has had an impact. Of the 62 wedding halls operated by Take and Give. Needs Co., five in the Tohoku area were shut down temporarily due to the suspension of water supplies. Its one wedding hall in Miyagi Prefecture remains closed for safety inspections.
Market leader Watabe Wedding Corp., which operates Mielparque Sendai, is anticipating a drop of about 1.2 billion yen in sales this fiscal year due to temporary closures and postponed or cancelled weddings. President Hidetoshi Watabe said the drop in wedding guests immediately after the earthquake forced some couples to switch to ceremonies at resorts. But since late April, the company has been demonstrating its flexibility by offering a more simplified wedding plan - something customers requested.
Even hotels hurt by a drop in corporate receptions and low turnover are doing steady business with weddings. On a single day in late March, the Imperial Hotel Tokyo hosted more than 20 weddings. At the Keio Plaza Hotel Tokyo, most of about 20 weddings that had been postponed in March due to the earthquake took place in April. Jones Lang La Salle Hotels, which offers advice on hotel investment, forecasts blue skies for the hotel industry in the second half of this year when it comes to weddings. For inbound leisure business, though, it sees thunderstorms ahead.
Source:The Nikkei Weekly June 13,2011
The Office of Commercial Affairs, Royal Thai Embassy in Tokyo, Japan
Source : http://www.depthai.go.th