| ISSUE 10/2014 || 30 April 2014 |
Dear !*TITLE*! !*LASTNAME*!,
The 25th edition of the Foreign Chambers Business Confidence Survey was closed on Friday and this time we had a good number of respondents, up 20% from the previous survey. The survey is processed by FCCJ so I we have now finalized the report which provides some interesting information, read more below!
Our next event is a Joint Nordic Chamber Business Luncheon, organized by FCCJ on Thursday, 29 May with one of Japan's most well-known economists, Mr. Masaaki Kanno, Managing Director and Chief Economist, JPMorgan Securities Japan, who will talk about "How Abenomics has changed Japan's economy -
What is needed from now on". Read more below.
We have also a new column in "Aoyama View", this time its covers an array of recent events from Obamas Asian travels, free trade agreement tribulations, security concerns in Eastern Europe and Asia, and Justin Bieber!
Click banner at right for another great read!
The 25th Foreign Chambers Business Confidence Survey
'Still Standing Tall - Notable Abenomics Optimism Prevails'
The Foreign Chambers in Japan (FCIJ) has been conducting Business Confidence surveys online twice a year since 2002 among foreign-affiliated companies in Japan. This, the 25th, survey was conducted between April 15 and 25, 2014, and received 330 valid responses from members of 17 foreign chambers of commerce.
The survey was run and processed on behalf of all the chambers by the FCCJ.
This survey shows that the respondents remain positive about the Japanese economy, albeit at a slightly lower level than in the previous survey in October 2013. The economy for the next 6 months is expected to continue to grow - the index, on a scale from +2 (strong improvement) to -2 (strong decline) was now +0.89, compared to +0.46 in October. Looking 12 months ahead, the companies see a further growth, on a similar level forecasted in the previous survey. The index was now +0.70, compared to +0.75 in the previous survey.
The positive continued views on the economy were also reflected in the reported and projected performance of the companies. The reported sales performance in the past six months developed stronger than in the October survey, the index was now +0.83 compared to +0.71 the previous survey. The sales performance was now at its highest level since the Spring 2006 survey. Also the profitability growth improved slightly, now +0.49 now compared to +0.45 in October.
The optimism reflected in the company performance data also clearly show that the strategies of the foreign-affiliated companies in Japan continue to be bullish. 81% (79% in the October survey) are looking for further growth.
For the full report, click link at right!
Report from the CLIC Networking Event on Wednesday, 23 April 2014
CLIC (Creative Linking of International Chambers) is a loose organization of 7 smaller Northern European Chambers of Commerce in Japan created for the purpose of organizing innovative networking events to enable trading of ideas between the members of the participating chambers. CLIC consists currently of the Belgian-Luxembourg, Danish, Finnish, Icelandic, Irish, Norwegian and Swedish Chambers of Commerce in Japan.
The first event was a joint Chambers' Networking evening where we had Mr Alan Mackenzie, the Country Manager of IKEA BUSINESS as our guest speaker. To celebrate the first event, chamber presidents and chairmen did a "Kagamibiraki", breaking of a sake barrel (pictured right).
For more photos from the event attended by 130 members and guests from 11 chambers, click links at right!
Thusday, 29 May - Joint Nordic Chambers Business Luncheon organized by FCCJ:
"How Abenomics has changed Japan's economy - What is needed from now on."
On Thursday, 29 May the FCCJ will organize jointly with the other Nordic chambers a Business Luncheon with one of Japan's preeminent economists, Mr Masaaki Kanno, Managing Director and Chief Economist,
JPMorgan Securities Japan.
The theme of Mr Kanno's presentation is "How Abenomics has changed Japan's economy -
What is needed from now on."
Date & Time:||Thursday, 29 May, 12.00-14:00
| ||Venue: || Grand Hyatt Tokyo, Basil, 2F [MAP] |
Cost:||Members 6,000 yen, Guests 8,000 yen|
Registration:||by Friday, 23 May|
About Masaaki Kanno
Mr. Masaaki Kanno is a Managing Director and Chief Economist,
Japan. He is responsible for outlining the firm's official view on
the Japanese economy.
He joined J.P. Morgan in April 1999. Prior to his arrival,
Mr. Kanno was an Associate Director at the Research and
Statistics Department of the Bank of Japan, where he worked
since 1974. His career at the BoJ included serving as the Bank's
Deputy Chief Representative in Europe, secretary to the Governor
in charge of Diet issues and Chief FX Trader in the International
Department as well as secondment to the Japan Center of
Economic Research as a Senior Economist.He has been member
of committees and councils of the ministries of the government,
including SNA committee of the Cabinet Office and the Foreign
Exchange Committee of the Ministry of Finance. In 2007 and
2008, he worked as member of the Financial Market Working
Group, in Cabinet Office, which published the reports on
reforming and deregulating Japan's financial and capital markets.
He is also a regular commentator on Morning Satellite, early
morning business program of TV Tokyo.
Mr. Kanno received a BA in Economics from the University of
Tokyo in 1974 and an MA in Economics from the University of
Chicago in 1979.
About J.P. Morgan
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
We collect the luncheon fee at the hotel. Note that we have to invoice the lunch fee for cancellations after 13:00 on Tuesday, 27 May and "no-shows".
To register, click link at right.
News from Finland
Nokia names former NSN head as new CEO
Rajeev Suri will take the helm on the first of May, the company has announced. The Indian-born Nokia veteran made a name for himself with a drastic turnaround in the fortunes of the firm's networks division, laying off one in four staff.
The 46-year-old has served at Nokia for almost 20 years in a range of management positions, and has been the head of networks division NSN since October 2009, where he orchestrated what is often seen as one of the technology industry's biggest turnarounds, bringing the division back to profit.
Within two years of taking the leadership of NSN, Suri axed 17,000 jobs and moved the division's focus to mobile broadband equipment. The bold move paid off in profit terms, bringing NSN back into profit to the point that it contributed about half the company's revenues before the Microsoft deal.
The Indian-born graduate of Mangalore University was raised in Kuwait for much of his life, and is a rarity among corporate executives in that he does not have an MBA degree. As well as Finland, Suri has worked in the UK, Nigeria, Germany and Singapore.
Suri will take up the post on the first of May.
Grin of the Week
An almost true story: Woman Stops Bear Attack With .25 Caliber Pistol
This is a story of self control and marksmanship. A woman survived a bear attack with one well placed shot from her itsy bitsy .25 caliber Beretta Jetfire.
These are her own words:
While out hiking in Alberta Canada with my boyfriend, we were surprised when a huge bear came charging at us out of nowhere. She must have been protecting her cubs because she was extremely aggressive.
If I had not had my little Beretta Jetfire I would not be here today! I yanked it out of my purse and fired one shot. It hit my boyfriend in his kneecap and the bear caught him easily. While the grizzly mauled the poor cripple, I was able to escape by just walking away at a brisk pace.
I love that pistol. I'll find other boyfriends.
Don't thank me for this one, credits and thanks to Jutta in Finland!
Have a great Golden Week and May Day for those in Finland &|
Clas G. Bystedt
If you have any comments, rumors, gossip or inside information,
send it to: firstname.lastname@example.org
ABOUT THIS BULLETIN
This bulletin is
published by the Finnish Chamber of Commerce in Japan (FCCJ) and
distributed to over 650 recipients among its members and related
FCCJ was established in April 1999 to promote trade and
economic exchange between Japan and Finland and has today 64 corporate
members, 12 individual and one special member.