J@pan Inc online April 30

[jin at mailman.japaninc.com]

>From www.japaninc.com <http://www.japaninc.com/>

Weekly blogs from leading experts on Japanese business, technology and
politics.
This week on J at pan Inc online we lead with Tobias Harris' examination of the

conservatives push for a new security policy.

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A Perfect Storm for Policy Change? <http://www.japaninc.com/perfect_storm>

By Tobias Harris

The great puzzle in Japanese security policy is why despite the consensus
within the
LDP in favor of a more robust, independent security and persistent worries
about North
Korea and China among the public at large Japan has failed to spend more —
or the
same — on defense and made legal and doctrinal changes that would enable
Japan to
meet threats originating from its neighbors.

Will 2009 be a turning point at which Japan opts for a new security policy?

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Masters of the Universe no more<http://www.japaninc.com/masters_of_the_universe>

By Ian Copsey

I have to confess that when my alma mater Morgan Stanley announces earnings,
it still
tugs at the heart strings. We endlessly outperformed expectations, but
laughed because
we knew there were tons of latent profits sitting on the back books. The
stock would rocket
to trade at a luxurious five times book. We were the invincible Masters of
the Universe...

Things have changed a little bit since the eighties...

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1 + 1 = (Aozora + Shinsei = ??) <http://www.japaninc.com/aozora_shinsei>

Rumors are flying about a proposed Shinsei-Aozora tie-up (these are nothing
new, but recently
the background noise on the subject has increased). The Nikkei has reported
the possible
formation of a joint holding company and integration of operations by the
middle of next year,
and this would create a large financial institution - reportedly it would be
the sixth largest in Japan
(all dependent on stockholding values, of course!)...

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Top performers emerging markets. <http://www.japaninc.com/emerging+markets>

Anyone who had any doubts about where the future of equity investment lies
should check out
international index moves since March 9. Although the US enjoyed a 26
percent leap, the best in
70 years, it ranked only 25th globally. The top performers list is dominated
by emerging markets.
The Ukrainian stock market was up 67 percent, followed by Puerto Rico, 53
percent, Romania,
49 percent and Peru, 49 percent...

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Watch out for the new edition of J at pan Inc which will hit the stores on June
1.

Click here <http://www.japaninc.com/mgz_subscriptions> for subscription
details.
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