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  ISSUE 31/2002

28 October, 2002  


The Foreign Chambers Information Group's Business Confidence Survey was concluded last Friday. 386 companies from 13 chambers participated in the survey. Preliminary results show that although the foreign affiliated companies in Japan are rather pessimistic about the state, and developement, of the Japanese economy, the businesses are doing quite well, and optimism prevails regarding their future.
The survey report will be presented at a luncheon meeting on 13 November. At this meeting we will also present the Compensation Survey conducted in cooperation with PricewaterhouseCoopers, and give you a special offer for the report of this survey.
Read more below.

FCIG Survey Luncheon Meeting

The The Foreign Chambers Information Group (FCIG) has conducted two surveys this autumn. The FCIG & PricewaterhouseCoopers Compensation Survey in September, and the FCIG Business Confidence Survey this month.

The surveys will be presented at a joint luncheon with members form all organizations. Representatives for Embassies, EBC and the EU Commission, as well as the press, will also be invited.

Here are the details:
Date & Time:Wednesday, 13 November, 12:00-14:00
Place: Capitol Tokyu Hotel, B2F, Pearl Room
Cost:7,000 yen (collected at the door)
incl. the Business Confidence Survey report
Registration:by Monday, 11 November

The Business Confidence Survey was now conducted for the second time (previous survey took place in April) to provide an insight into what their members think about the current state of the Japanese economy and their own businesses, to obtain reliable data on how foreign companies perform in Japan and to find out their future strategies on this market.

The Compensation Survey for locally hired staff at foreign-affiliated companies in Japan was conducted in cooperation with PricewaterhouseCoopers. This survey was the first and the largest (213 respondents) of its kind to be conducted in Japan. As Japan's compensation landscape is changing dramatically, the purpose of this survey was to enable companies to know how compare with the rest of the market. The report a definitive source of compensation benchmarks among foreign companies in Japan as the analysis and interpretation of survey data is done by PricewaterhouseCoopers' compensation experts.

Special offer:
Those chamber members who participate in this survey luncheon will be able to make orders for the 100+ pages report at the meeting at a special price of 20,000 yen. Normal price for members is 25,000 yen, and for non-members 50,000 yen.
Note that the report is free for those who participated in the survey.

To register for this meeting, please click link at right (please indicate special meal request).
Report from October Luncheon Meeting
Timo Airaksinen
The October luncheon meeting was held on Wednesday the 23rd at the Capitol Tokyu Hotel.
Our guest speaker was Profesor Timo Airaksinen, Chairman of the Japan Guild in Helsinki.
In his presentation, Professor Airaksinen gave his views on how the picture of Japan has evolved from the early 20th century until today, form Admiral Togo to today's pop-culture. Japan and Finland are united by a "mystical fellow feeling" and there are no animosities between the countries. Actually, Professor Airaksinen noted, both countries are a kind of "mental islands", Japan has its complex way of writing, Finland its intricate grammar. The presentation was well received and generated a lot of discussion.

For more about the meeting, which was attended by 25 members and guests, click link at right
IBA, ACCJ & EBC Luncheon
"Japan's Bad Loan Problem and the BOJ's Monetary Policy"
Guest Speaker: Mr. Kazuo Ueda, Bank of Japan Policy Board Member

The EBC is co-sponsoring a luncheon being organised by the International Bankers' Association (IBA) and the ACCJ. The subject of the meeting is "Japan's Bad Loan Problem and the BOJ's Monetary Policy", The guest speaker will be Mr. Kazuo Ueda, one of the 9 members of the Bank of Japan's Policy Board.
Date & Time:Monday, November 11 , 12:00-14:00
Place: Tokyo American Club, 1-2-2 Azabudai, Minato-ku
Cost:6,400 yen (invoiced by EBC)
Registration:by Wednesday 6 November

For more information and registration, click link at right,
News from Finland
Outokumpu's earnings per share tripled in January-September -
Profitability seasonally wekaer in Q3
The net sales in of Outokumpu Oyj for the period January-September rose to EUR 4 167 million (I-III/2001: EUR 4 000 million), operating profit to EUR 252 million (I-III/2001: EUR 149 million) and earnings per share to EUR 1.21 (I-III/2001: EUR 0.41). Cash flow from operating activities totaled EUR 392 million (I-III/2001: EUR 497 million).
Third quarter was seasonally weak. Earnings per share for the third quarter were markedly higher due to the AvestaPolarit acquisition and its consolidation into the Group result as of January 2002. Clear improvement of the result started in September and it is expected to continue during last quarter. The full-year result is expected to be significantly better than in 2001.
Grin of the Week

These are called "quips"...
  • If you lend someone $20, and never see that person again, it was probably worth it.
  • If you tell the truth, you don't have to remember anything.
  • The quickest way to double your money is to fold it in half and put it back in your pocket.
  • There are two theories to arguing with women. Neither one works.
  • Don't be irreplaceable. If you can't be replaced, you can't be promoted.
  • It is far more impressive when others discover your good qualities without your help.
  • Before you criticize someone, you should walk a mile in their shoes.
         That way, when you criticize them, you're a mile away and you have their shoes.
  • That's all for now. Even if the economic climate is turbulent, let's hope the sun keeps shining....

    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 400 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.