The 'JIN' Japan Inc Newsletter<br>A weekly opinion piece on social, economic and political trends<br>in Japan.<br>Issue No. 454 Wednesday February 27, 2008, Tokyo<br><br>-------- Job Fair for International Students & Careers ---------<br>
<br>The JOBFAIR will be held on March 8th in AKIHABARA.<br>This JOBFAIR is the biggest event for international students<br>and foreigners who are thinking about a career change in Japan:<br>50+ companies will attend seeking internationally-minded people!<br>
<br>JOBFAIR participants will have an opportunity<br>to visit company booths and ask HR about careers.<br><br>Some companies may have interviews on the day.<br>The JOBFAIR provides a great chance to meet many companies and<br>
learn about them what they do and the people they need in a<br>short period of time.<br><br>DATE: March 8th /11:00 - 18:00<br>PLACE: at AKIHABARA<br><a href="http://www.jobfair.jp/jp/JB5001LG.php?j=12&banner_id=rfb00009" target="_blank">http://www.jobfair.jp/jp/JB5001LG.php?j=12&banner_id=rfb00009</a><br>
----------------------------------------------------------------<br><br>Japan's phenomenal rise to economic super-power status in the <br>last century has long ceased to be the cause of optimistic <br>speculation by the international press. Since the late 1980s, <br>
at regular intervals of 1-2 years, it has become the norm for <br>business media to run a big feature article prophesying doom <br>and gloom about Japan's economic future. The problems identified<br>are normally the same, and they are very real: lack of <br>
regulatory reform, political confusion, unhappy demographics <br>and a tendency to protectionism. <br><br>The most recent piece of this kind was in last issue of The <br>Economist that has the word 'JAPAiN' emblazoned on its cover. <br>
The leading article blames Japan's crusty political <br>establishment for the current slump. It warns that, 'The <br>incompetence of politicians and bureaucrats does not just lead <br>to expensive short-term disasters; it also threatens Japan's <br>
long-term growth prospects.' The article neatly catalogues a <br>series of governmental blunders and mistakes showing how they <br>have adversely affected the economy. It singles out Abe, Fukuda <br>and the DPJ's Ozawa as a trinity of disastrous and incompetent <br>
leaders.<br><br>There is little that can be said to defend the politicians but <br>there is a case to be made that the political establishment has <br>much less power, and therefore responsibility; additionally, <br>while perhaps not as exciting a story as commercial Armageddon, <br>
Japan's economic are arguably not so frightening. <br><br>[Continued below...]<br><br>-----------------------------------------------------------<br>PBXL IS HOSTED IP TELEPHONY: TOTAL TELEPHONY SOLUTION<br><br>Hate paying for every little change and addition<br>
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<br>Expert analyst Jesper Koll gives the other side of the story in <br>
a piece this month for Forbes Asia - he argues that Japan's <br>'decoupling' from the global economy, or protectionism, actually<br>make the country a profitable haven for investment. Furthermore <br>he states that the 'policy mistakes are beginning to run their <br>
course. Fiscal policy is actually being eased at the margin, <br>with regional public investment rising modestly and, more <br>importantly, pension payouts to seniors being pushed up in <br>2008-09.' According to Koll, the credit crunch is easing, <br>
dividends are up, and domestic demand shows sign of recovery. <br><br>Indeed, for all its short comings, Japan's regulatory <br>environment as well as its economic prospects show some healthy <br>signs. Never an organization to allow the FSA to pat itself on <br>
the back, the American Chamber of Commerce in Japan published a <br>white paper on Japan's financial and capital markets last year <br>that declared, 'the evolution of Japan's regulatory environment <br>is at a critical turning point and welcomes the shift in focus <br>
towards competitiveness and better regulation.' In particular, <br>the J-SOX regulation, governmental efforts to reduce <br>non-performing loans and the attitude of FSA Commisioner Sato <br>are singled out for praise before the further recommendations <br>
are made.<br><br>While the politicians squabble, big business in Japan seems to <br>have recognized that in the current market, Japan needs to <br>internationalize further in economic terms - as the financial <br>crisis of the late nineties shows, in times of trouble the <br>
reformers wake up. Significant evidence that this may well be <br>the case right now can be found in a Nikkei article of February <br>4 (<a href="http://www.nni.nikkei.co.jp/AC/TNKS/Search/Nni20080203D03JFF03.htm" target="_blank">www.nni.nikkei.co.jp/AC/TNKS/Search/Nni20080203D03JFF03.htm</a>).<br>
The article reported that the FSA is starting to pursue a more <br>principles-based regulation system and plans to bring in a code <br>of conduct. A source close to the FSA told us that the Nikkei <br>had got hold of some information prematurely but that the <br>
regulator is rapidly moving to make the environment more <br>favourable for foreign businesses - while Japanese banks have on <br>the whole been less hit by subprime than their Western <br>counterparts, the credit crunch, plus increased interest in <br>
emerging markets, means that Japan is forced to act fast if <br>wants to avoid a crisis in the longer term.<br><br>Meanwhile, on the ground, although there is a sense of caution <br>among investors, and the population issue is starting to hurt, <br>
there seems to be no shortage of ambition and new ventures, not <br>to mention lower level M&A (<a href="http://www.japaninc.com/tt455" target="_blank">www.japaninc.com/tt455</a>). <br>Anecdotally, just last week we met with a jewelry designer who <br>
runs a side business selling a new type of wheel that can <br>traverse stairs, an entrepreneur who has started up a corporate <br>video production company, and an architect planning to set up <br>his own magazine to be published across Asia. Japan may be in <br>
for some suffering, and the political establishment may continue <br>to be in turmoil for some time, but the gory vision of recession<br>touted by The Economist goes a little too far. Moreover, many <br>important foreign business interests here are hoping that a <br>
little pain will be the kick the bureaucrats need to bring on <br>the next wave of reform. And if that transpires we will have the<br>hapless politicians of today to thank.<br><br>Peter Harris<br>Editor-in-Chief<br><br>------------ Translation/Marketing Service ----------------<br>
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- DM service targeting senior executives<br><br>Please contact at <a href="mailto:sachie.kuroda@japaninc.com" target="_blank">sachie.kuroda@japaninc.com</a> for more details.<br>-----------------------------------------------------------<br>
<br>++FEEDBACK<br><br>Want to comment? It is now even easier to voice your opinion<br>than ever before! Simply post a comment below the article<br>online at <a href="http://www.japaninc.com/jin454" target="_blank">www.japaninc.com/jin454</a> <br>
<br>++EVENTS<br><br>-----------------------------------------------------------<br>Start a Company in Japan<br><br>Entrepreneur's Handbook Seminar 1st of March, 2008<br><br>If you have been considering setting up your own company,<br>
find out what it takes to make it successful.<br>Terrie Lloyd, founder of over 13 start-up companies in Japan,<br>will be giving an English-language seminar and Q and A on<br>starting up a company in Japan.<br>This is an ideal opportunity to find out what is involved,<br>
and to ask specific questions that are not normally answered<br>in business books.<br>All materials are in English and are Japan-focused.<br><br>For more details: <a href="http://japaninc.com/terrie_lloyd/" target="_blank">http://japaninc.com/terrie_lloyd/</a><br>
<br>-- Entrepreneur Association of Tokyo - Tuesday, March 4th --<br><br>Title:<br>'The Social Learning Revolution:<br>Creating a disruptive business model from Japan'<br><br>Speakers: Andrew Smith Lewis, Founder and CEO, Cerego Japan<br>
and Eric Young, Founder and CEO, Cerego LLC.<br><br>Long time Japan entrepreneurs Andrew Smith Lewis and Eric<br>Young will share their experiences building the education<br>business Princeton Review of Japan and learning technology<br>
company Cerego.<br>Cerego is now focusing on the rapidly growing online learning<br>platform iKnow with the goal of changing the way people learn<br>and becoming the world's primary online learning solution.<br><br>Date/Time: Tuesday, March 4, 7:00 pm<br>
Location: Foreign Correspondents' Club of Japan<br>Language: English<br>Website: <a href="http://www.ea-tokyo.com" target="_blank">http://www.ea-tokyo.com</a><br><br>------------ PMP Certification Prep Course ----------------<br>
<br>
Get ready for the PMP (Project Management Professional)<br>certification exam, in 4 short days while taking just<br>1 day off from work!<br><br>A STEP TOWARD THE PMP<br>March 20, 21, 22 and 23 -- 9:30 am to 6:30 pm<br>(Thursday, March 20 is a national holiday)<br>
<br>Satisfies the PMI's requirement of 35 PDUs for certification.<br><br>Enroll and pay by Friday, February 29, and you will be eligible<br>for a 35,000 yen discount and pay only 160,000 yen (incl. tax).<br><br>InnoSoft Japan K.K<br>
For more information visit: <a href="http://www.innosoft.co.jp" target="_blank">www.innosoft.co.jp</a><br>or call us at 03-6868-3000<br><br>-----------------------------------------------------------<br><br>Marcus Evans Events - Supported by J@pan Inc<br>
<br>-Customer Relationship Excellence<br>15th - 16th April 2008, Hilton Tokyo<br><a href="http://www.marcusevans.com/html/eventdetail.asp?eventID=13548" target="_blank">http://www.marcusevans.com/html/eventdetail.asp?eventID=13548</a><br>
This event features leading speakers from Daihatsu Motor,<br>Daimler Japan, General Motors, Honda Motor, Nissan Motor,<br>Mitsubishi Motors, Toyota Motor and Johnson Controls<br>Automotive Systems Corporation. Don't miss this out!<br>
<br>-Compensation and Benefits<br>27th - 28th May, Tokyo<br>This event provides Japanese firms the understanding and<br>'how-to' of investing in their employees for the purpose<br>of sustaining their businesses Corporations nowadays need<br>
to formulate a business-driven compensation policy that<br>leverages human capital to drive corporate growth.<br><br><br>'J@pan Inc readers are entitled to a 10% discount upon<br>registration with Ms. Esther Wong.'<br>
<br>For further details and brochures, please contact:<br>Ms. Esther Wong<br>Tel No: +603 2723 6736<br>Fax No: +603 2723 6699<br>Email add: <a href="mailto:estherw@marcusevanskl.com" target="_blank">estherw@marcusevanskl.com</a><br>
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++END<br><br>