<div dir="ltr"><p>J@pan Inc Newsletter<br>
The 'JIN' J@pan Inc Newsletter<br>
A weekly opinion piece on social, economic and political trends<br>
in Japan.<br>
Issue No. 479 Wednesday August 27, 2008, Tokyo<br>
-----------------------------------------------------------<br>
Every PBXL wireless phone comes standard with:<br>
a big color screen,<br>
a 03 Tokyo number,<br>
voicemail,<br>
and more!</p>
<p>Everything you expect from the best office phone system<br>
on the market.</p>
<p>Call today! 03-4550-2557<br>
Get your new phone system in 3 steps: <a href="http://www.pbxl.jp/plans" title="http://www.pbxl.jp/plans">http://www.pbxl.jp/plans</a></p>
<p>PBXL is Hosted Business Telephony<br>
Monthly seminars at Cisco HQ: <a href="http://www.pbxl.jp/seminarstt" title="http://www.pbxl.jp/seminarstt">http://www.pbxl.jp/seminarstt</a><br>
More about PBXL: <a href="http://www.pbxl.jp/aboutus2" title="http://www.pbxl.jp/aboutus2">http://www.pbxl.jp/aboutus2</a><br>
-----------------------------------------------------------</p>
<p>On Monday, new Financial Services Minister Toshimitsu Motegi<br>
implored the press at the Foreign Correspondents Club of<br>
Japan to focus on the positives. Paraphrasing Winston Churchill,<br>
the Harvard-educated former journalist argued that every<br>
adversity could be turned into an opportunity. The demographic<br>
change could see an army of grey-haired would-be retirees<br>
joining the "silver labor force," and the 1500 trillion yen<br>
horded under the mattresses of reluctant investors could be<br>
coaxed back into the economy. With the average healthy life<br>
expectancy of Japanese women now standing at 78 years and men<br>
73, there's a strong argument for increasing the age of<br>
retirement. Similarly, the underutilized savings of households<br>
across the nation have long been seen as a way to revitalize the<br>
economy. It is early days yet, but Motegi and the Fukuda<br>
administration are talking about tax reform to encourage<br>
investment. And not only for small investors: new laws would<br>
enable companies to avoid double taxation on money made<br>
overseas. A territorial taxation system that would limit taxable<br>
corporate profits to domestic sources of income or, alternately,<br>
an international tax system are both being considered. </p>
<p>-----------------------------------------------------------<br>
Paccess Inc helps you 'Go Global Now!'</p>
<p>For over 10 years, Paccess Inc has assisted companies with<br>
market entry, strategic partner search, and trade development<br>
in the US, Japan, and Latin America.<br>
To expand your business in overseas markets,<br>
visit <a href="http://www.paccess.com/" title="www.paccess.com">www.paccess.com</a>, or contact <a href="mailto:info@paccess.NET">info@paccess.NET</a><br>
(English, Japanese, or Spanish OK).</p>
<p>-----------------------------------------------------------</p>
<p>On Tuesday, it was reported in the Nikkei newspaper that the<br>
Financial Services Agency is considering the introduction of a<br>
10-year tax exemption for dividend payouts arising from<br>
investments in the stock market. The proposal would be an<br>
extension of a tax reduction plan already in place for 2009 and<br>
2010. The elderly could receive up to 5 million yen in tax<br>
exemptions from capital gains while those under a certain<br>
age would receive an exemption for dividend payouts of up to<br>
1 million yen.</p>
<p>No-one underestimates the task of the Financial Services Agency.<br>
Japan will form the prototype for the other developed countries<br>
facing the challenge of a rapidly aging workforce.<br>
Japan is still wealth and is still the island nation with the<br>
second-biggest economy in the world, but in terms of GDP per<br>
capita it ranks 20th. Small, outwardly looking countries such as<br>
Switzerland, Norway and Luxemburg top the list. When asked<br>
about what the government planned to do in terms of immigration<br>
and women in the workforce, Motegi remained vague. The minister<br>
has only been in the post for under a month and the details of<br>
any law reform are yet to be finalized.</p>
<p>Motegi did make the point of differentiating between immigrants<br>
and foreign workers, however. Earlier this year, lawmakers<br>
handed a paper to the government suggesting that an increase of<br>
foreign-born workers would be necessary to bolster the economy.<br>
By 2050, Japan's foreign-born residents could make up as much as<br>
10 percent of the population.<br>
But the idea of a large-scale immigration program, where<br>
citizenship is more freely offered, may still be a long-way from<br>
being accepted in parts of the government. </p>
<p>The nation's lawmakers need to realize that they cannot have it<br>
both ways. If the government truly wants to keep the economy<br>
where it is it needs to be more outwardly looking. Not only in<br>
terms of immigration but also in the way it attracts foreign<br>
investment. Talk of Tokyo as an international financial center<br>
continues to be heard on the lips of both members of the Tokyo<br>
metropolitan government and also the central government.<br>
While Motegi's positives should be focused on, the problems<br>
the nation need s a real solution, and this will mean real<br>
change.</p>
<p>Michael Condon<br>
Editor-in-chief</p>
<p>---------- Metropolis and eigoTown.com Party --------------</p>
<p>Join over 300 party animals for drinks, food and music!</p>
<p>September 6, 2008: 7:00pm - 10:00pm @ Feria, Roppongi.<br>
After 10pm, feel free to stay and party the night away until<br>
the early hours!</p>
<p>Cost: 5,000 yen<br>
Show this email at the door to get in for 3,500 yen</p>
<p>All-you-can drink + Prizes!<br>
(Trip for two to Macau courtesy of Viva Macau)<br>
DJs + Single people</p>
<p>Click here to register: <a href="http://www.metropolis.co.jp/iparty/" title="www.metropolis.co.jp/iparty/">www.metropolis.co.jp/iparty/</a><br>
Nearest stn: Roppongi</p>
<p>CORPORATE SPONSORS WELCOME</p>
<p>-----------------------------------------------------------</p>
<p>-----------------------------------------------------------<br>
Entrepreneur Association of Tokyo-Seminar-Tuesday, September 2nd</p>
<p>Title: 'Breathing New Life into an Old Industry'</p>
<p>Speaker: Daisuke Iwase<br>
- Co-founder and COO of Lifenet Insurance Company</p>
<p>Lifenet, an online insurance venture was co-founded by Daisuke<br>
Iwase and Hal Deguchi in April 2008.<br>
They have successfully raised over 13 billion yen to date<br>
to grow Lifenet and revolutionalize Japan's 45 trillion yen<br>
life insurance industry.<br>
Daisuke started his career at the Boston Consulting Group<br>
and went on to work at Intenet Capital Group and Ripplewood<br>
Holdings before starting Lifenet. He has a B.A. in Law from<br>
the University of Tokyo, and MBA with High Distinction<br>
(Baker Scholar) from Harvard Business School.</p>
<p>Please sign up early while seats are available.<br>
Date/Time: Tuesday, September 2nd 7:00 pm<br>
Location: Foreign Correspondents' Club of Japan<br>
Language: English<br>
Website: <a href="http://www.ea-tokyo.com/" title="http://www.ea-tokyo.com">http://www.ea-tokyo.com</a><br>
----------------- ICA Event - Sept 11 ---------------------</p>
<p>Event: SUMMER NETWORKING PARTY!!</p>
<p>Topic: Joint event with ACCJ ICT Committee and the<br>
Indian IT Club</p>
<p>Details: Complete event details at <a href="http://www.icajapan.jp/" title="http://www.icajapan.jp/">http://www.icajapan.jp/</a><br>
(RSVP Required)</p>
<p>Date: Thursday, Sept 11, 2008<br>
Time: 6:30-8:30pm - includes open bar and buffet<br>
Cost: 6,000 yen (members), 7,000 yen (non-members)<br>
Open to all-venue is The Foreign Correspondents' Club of Japan<br>
<a href="http://www.fccj.or.jp/aboutus/map" title="http://www.fccj.or.jp/aboutus/map">http://www.fccj.or.jp/aboutus/map</a></p>
<p>-----------------------------------------------------------</p>
<p>STAFF<br>
Written by: Michael Condon, Editor-in-Chief, Japan Inc Magazine<br>
READ PREVIOUS NEWSLETTERS<br>
Check out our other Japan-specific newsletters:<br>
<a href="http://www.japaninc.com/newsletters_main_page" title="http://www.japaninc.com/newsletters_main_page">http://www.japaninc.com/newsletters_main_page</a><br>
ADVERTISING INFORMATION<br>
To advertise in this newsletter, contact: <a href="mailto:ads@japaninc.com">ads@japaninc.com</a><br>
FEEDBACK AND PROBLEMS<br>
We welcome your viewpoint: <a href="mailto:editors@japaninc.com">editors@japaninc.com</a><br>
NB Please do not reply to this newsletter<br>
-- it's outgoing only, so we won't get it!<br>
Technical problems: <a href="mailto:webmaster@japaninc.com">webmaster@japaninc.com</a><br>
Copyright (C) 2008 Japan Inc Communications KK.<br>
All Rights Reserved.</p></div>