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  ISSUE 14/2002

19 April, 2002  


Yes, we lost... as you could guess from my bulletin being a bit late.
Sometimes hard to tell the cold facts....
I am talking about our golf challenge against the Swedish Chamber, and as at least all Finns know, it's tough to take a beating from the Swedes...
But we had a lot of fun and it was a friendly competition, so even with the danger of losing again, we definately repeat this in the autumn.
Read more about the event below.

Report from Sweden-Finland Golf Challenge - Stora Enso Cup
...and the winner is......SCCJ....
Somewhat reluctantly Stora Enso Japan President Eero Ala-Jaaski (FCCJ) hands over the trophy to the SCCJ team....
The first Golf Challenge between the Swedish and Finnish Chamber's of Commerce in Japan was held on Friday 12 April at the Tamatsukuri Golf Club, Nejiki Course in Ibaraki Prefecture.
The Stora Enso Cup was won by Sweden by a team total of 1,037 strokes against Finland's 1,042.2 strokes. The average score for SCCJ was 79.8 and for FCCJ 80.2, so the winning margin was rather slim, but enough.....
The match was played in a very good spirit, and all agreed that this new joint event between SCCJ and FCCJ should continue.
Our thanks go to the SCCJ who organized this event, our title sponsor  Stora Enso Japan  and  Wilson Japan , which again donated some great prizes.

For more about the challenge, all results and some revealing images, click link at right.

April Luncheon Meeting - last remider
Richard Collasse and Chanel No.5

Date & Time:Thursday, 25 April, 12.00 -14.00
Place: Capitol Tokyu Hotel, B1 Fl., Nikko Room
Cost:7,000 yen (collected at the door)
Our guest speaker is Mr. Richard Collasse, Chairman of the EBC (European Business Community) and President of Chanel K.K.
Sitting on two important chairs, Mr. Collasse will also have two themes for his presentation:
  • EBC, how to sharpen the tool
  • Chanel, a Global Company in Japan
    To register, at latest by Tuesday 23 April, please click link at right.
    If you would like to check if you are on the list, click HERE.

    FCIG Business Confidence Survey - last remider
    The survey, which was explained in a  previous bulletin , is now under way. To date we have about 400 responses, 26 of them from FCCJ members.
    We have informed our Finnish (or other foreign affiliated) members about the survey procedures and most of you have already submitted your response, which ensures that FCCJ would have the best response rate in the survey, THANK YOU!
    In case you have not received the information, or lost the link to the survey page, please send me a mail by clicking link at right.

    The Survey is now also available in PDF format, which you could print out, fill in and fax to us. The form is  HERE .
    From the EBC
    Mainichi Newspapers: Japan and the EU Economic Feature
    The EBC Secretariat has been visited by the Mainichi Newspapers (Web-based "Mainichi Interactive" - Japanese, and web-based "The Mainichi Daily" -English) in preparation for the production of a special feature to celebrate Europe Day on May 9. Space will be provided to provide a substantial article about the EBC from the EBC Chairperson, Mr. Collasse, as well as other sector-based articles in exchange for the placement of advertisements.

    The EBC welcomes this initiative and would greatly appreciate any cooperation and support that you be willing to give when contacted by the Mainichi in the coming weeks to contribute to the success of the special EU supplements project. I have attached some information provided by the newspaper for your reference.
    For more about the event, click link at right.

    News from Finland
    Recession affected Nokia
    The growth pace of Nokia decreased due to weakened demand. The company is, howerver, in a better position compared to its competitors when the next upturn starts.

    Nokia reported their first quarter earnings yesterday. It exceeded its profit targets on slightly lower sales. Better-than-expected profitability in mobile phones offsets challenging network environment. Net sales decreased 12% to EUR 7 014 million (EUR 8 007 million in 1Q 2001) . Pro forma operating profit was EUR 1 286 million (EUR 1 440 million); operating margin was 18.3% (18.0%)

    In addition to its profitability, Nokia is ahead of its competitors in another important area. Nokia has not been forced to alliance themselves with their competitors to improve their competitiveness and profitability.
    However, Nokia now believes that general weakness in all key regions will affect mobile phone demand for the remainder of the year. They are therefore lowering their total market volume estimates for 2002 to a range of 400 to 420 million units. This would reflect modest growth on last year's estimated market volume of 380 million units.

    Mainly because of this statement from Nokia Chairman & CEO Jorma Ollila, the Nokia share lost yesterday more than 12 % both in Helsinki and New York.
    But expect it to rebound soon... (free investment advice from FCCJ)
    Grin of the Week
    A great true lawyer story
    A North Carolina lawyer purchased a box of very rare and expensive cigars, then insured them against fire.
    Within a month, having smoked his great cigars, and not yet having made even his first premium payment on the policy, the lawyer filed a claim against the insurance company.
    In his claim, the lawyer stated the cigars were lost "in a series of small fires." The insurance company refused to pay, citing the obvious reason: the man had consumed the cigars in the normal fashion.
    The lawyer sued....and won! In delivering the ruling, the judge agreed with the insurance company that the claim was frivolous, however, the judge stated that the lawyer held a policy from the company in which it had warranted that the cigars were insurable, and had guaranteed that it would indeed insure them against fire, without defining what is considered "unacceptable fire"- and was obligated to pay the claim.
    Rather than endure a lengthy and costly appeal process, the insurance company accepted the ruling and paid $15,000 to the lawyer.

    NOW FOR THE GOOD PART.............
    After the lawyer cashed the check, the insurance company had him arrested on 24 counts of arson!
    With his own insurance claim and testimony from the previous case being used against him, the lawyer was convicted of intentionally burning his insured property and was sentenced to 24 months in jail and a $24,000 fine.

    This is (supposedly?) a true story and was the winner in the recent Criminal Lawyers Award Contest.
  • This reminds me of a Finnish aphorism. In a small community with no industry and other employment opportunities few and far between, the obvious question was how they manage to make their living.
    "Well, we chop wood for each other..." was the reply.
    The above story is an example of how lawyers manage to feed each other...

    Have a nice weekend, !*LAST_NAME*!-san, and

    Best regards

    Clas G. Bystedt

    If you have any comments, rumors, gossip or inside information,
    send it to: fccj@gol.com

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    This bulletin is published by the Finnish Chamber of Commerce in Japan (FCCJ) and distributed to over 360 recipients among its members and related organizations.
    FCCJ was established in April 1999 to promote trade and economic exchange between Japan and Finland and has today 71 corporate members.