* * * * * * * * * T E R R I E 'S T A K E * * * * * * *<br>A weekly roundup of news & information from Terrie Lloyd.<br>(<a href="http://www.terrie.com">http://www.terrie.com</a>)<br><br>General Edition Sunday, November 7, 2010, Issue No. 589<br>
<br>+++ INDEX<br><br>- What's New<br>- Short Takes<br>- News<br>- Candidate Roundup/Vacancies<br>- Upcoming Events<br>- Corrections/Feedback<br>- News Credits<br><br>SUBSCRIBE to, UNSUBSCRIBE from Terrie's Take at:<br>
<a href="http://mailman.japaninc.com/mailman/listinfo/terrie">http://mailman.japaninc.com/mailman/listinfo/terrie</a><br><br>BACK ISSUES<br><a href="http://www.japaninc.com/terries_take">http://www.japaninc.com/terries_take</a>, or,<br>
<a href="http://mailman.japaninc.com/pipermail/terrie/">http://mailman.japaninc.com/pipermail/terrie/</a><br><br><br>----------------- PBXL WILL BUY YOUR PBX ------------------<br><br>Is your PBX vendor requiring you to purchase a new PBX <br>
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<br>Offer expires 15 Dec 2010.<br><br>------------ PBXL is BUSINESS COMMUNICATIONS --------------<br><br><br>+++ WHAT'S NEW<br><br>Over the last few weeks the news media have been carrying <br>reports of improved numbers in the housing sector, with <br>
housing starts up 20.5% year-on-year through to August, and<br>more recently house builder profits turning up as well. <br>Last week Daiwa House announced that it's first half <br>profits were up 31% over last year, reversing an earlier <br>
forecast that they'd experience a 34% fall in profit -- <br>making it effectively a 65% improvement, not a bad result.<br><br>So are things getting better in the Japanese property <br>market? It appears that in certain sectors things are <br>
improving, while for the rest of us some sort of stasis has<br>been reached, whereby buyers and sellers are waiting and <br>seeing whether the economy is going to improve enough to <br>see a general trickle-down to everyone else..<br>
<br>The sectors that seem to be doing well in family housing <br>are owner-occupied homes in major cities, condo's downtown<br>in the biggest cities -- Tokyo in particular, and rental <br>housing in and around major stations. Basically, any major <br>
urban area convenient to transport, shopping, and lifestyle <br>(i.e., parks, foreshore, and other facilities) is starting <br>to enjoy a resurgence of demand. Yes, this represents a <br>small sector of the overall home-buying market, but it is <br>
one that people are willing to pay a premium for and thus <br>gets reported in the news -- which we presume creates a <br>feel-good factor in the greater market.<br><br>The government's tax breaks on mortgage loans and the wide <br>
availability of home loans at low interest are definitely <br>having an effect, and with loans typically pegged at 5x <br>annual salary, anyone on a household income of JPY7m-JPY10m <br>can see how 2.06% interest for 35 years is much <br>
cheaper to get a nice place not far from the city center <br>than it is to rent. This renewed surge of interest in <br>owning a new apartment or house is therefore most active <br>for properties in the JPY35m-JPY70m bracket. <br>
<br>Move above that number, though, the recession is still very<br>much in evidence. Just go have a look at luxury properties <br>online, and the same properties stay on the listings <br>forever -- especially for luxury rentals. This of course <br>
makes sense, because those who can afford it are buying <br>their own homes, leaving those who can't wanting to live <br>cheaply. In Tokyo, "high-end" in rental properties means a <br>place costing more than JPY250K per month. <br>
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<br>[...Article continues]<br><br>This upper-end situation isn't going to change until company <br>presidents of domestic firms start making money again, <br>and/or the stock market picks up for smaller firms and thus<br>
puts more capital gains in to the pockets of management and<br>staff who own shares. And that isn't going to happen until <br>the Japanese government figures out how to get money to <br>small, promising innovators instead of doling out long-term<br>
loans to 50-year old zombie firms that keep the <br>unemployment rates down but not much more. :-)<br><br>We're not in the commercial real estate business, but since<br>we are in business and talk to other business people <br>
(foreigners and Japanese) about their office move plans, <br>from what we can tell the commercial property situation is <br>quite different to private housing. It is still very <br>depressed and will be getting worse before it gets better. <br>
While 20% of Japan's companies are making money from exports <br>and are consequently signing up for tony new buildings <br>(although most are not necessarily expanding, they're just <br>upgrading) in Marunouchi and Nihonbashi, the remaining 80% <br>
of their domestic market-facing colleagues are still in a <br>deep funk. For this large slice of firms, there are very <br>few CEOs looking to expand right now. <br><br>In fact, we believe that there is still more shakeout to <br>
occur, which will continue for the next 1-2 years as <br>companies who signed 3- and 5-year rental leases back in <br>the recovery years of 2005 through 2007 are freed of their <br>obligations and can start looking for cheaper alternatives. <br>
We mentioned in a previous Terrie's Take that we have been <br>on a real estate search of our own, and were surprised to <br>find a large number of properties similar to our's for 25% <br>to 30% less rent, not including the 6 months rent-free <br>
holiday landlords are still giving to get tenants in.<br><br>This bifurcation of the market, with the exporters and some<br>high-tech firms able to move to high-end buildings while <br>everyone else pushes further down the market ladder, is <br>
showing up in the real estate market stats. Apparently the <br>office vacancy rate in September for Tokyo actually fell <br>slightly to 9.01%, but all the action was in high-end <br>buildings, and the vacancy rate in smaller and older <br>
buildings is still sinking. Currently the average rent <br>across Tokyo's five central wards of Chiyoda-ku, Chuo-ku, <br>Minato-ku, Shinjuku-ku, and Shibuya-ku is JPY17,709/tsubo <br>(3.3 sq. m.), almost 10% down from the same time last year.<br>
<br>We have heard that there are a number of foreign funds <br>waiting for distressed property to come on to the market. <br>These types of properties are special in that the owners <br>borrowed money from foreign banks who now want their money <br>
back. The much larger bucket of properties owned by <br>Japanese with Japanese banks' money are simply going to <br>hang on longer and hope that the market for their assets <br>comes back again. <br><br>It will take another Lehman Shock or perhaps 5-10 years of <br>
deficits similar to the one the government had last year <br>before the Japanese financial and thus the property markets<br>will really break. Why 5-10 years? Well, although the <br>Japanese government is deep in debt, they have one <br>
important ace up their sleeve -- the ability to suck an <br>extra 10% of the GDP out of the economy by way of increased<br>consumption tax. This will let them hang on for a while to <br>come in our opinion...<br><br><br>...The information janitors/<br>
<br>***------------------------****-------------------------***<br><br><br>+++ SHORT TAKES<br><br>We recommend products and services that you might find <br>interesting or useful while living in Japan.<br><br>=> 1. Valerian<br>
<br>With all the stress of working in a highly competitive <br>environment like Tokyo, it's no wonder that many people <br>have trouble getting to sleep and wind up needing sleeping <br>pills on prescription. If like us you're reluctant to take <br>
synthetic drugs for long periods, there is a natural <br>alternative that works really well -- Valerian. It's not <br>known how Valerian works, but it has been used for <br>generations for treating insomnia and general anxiety.<br>
<br><a href="http://www.iherb.com/Now-Foods-Valerian-Root-500-mg-250-Capsules/830?at=0">http://www.iherb.com/Now-Foods-Valerian-Root-500-mg-250-Capsules/830?at=0</a><br>* <a href="http://iherb.com">iherb.com</a> referral code -- LOY499<br>
* Pays us a small commission at no extra cost to you.<br><br>=> 2. Coming week's MMC prize<br>Next week's prize in the Metropolis Members Club is a <br>romantic dinner for two at the 148 Hiroo restaurant. We can<br>
tell you that the food at 148 is first class... Exceeded <br>only by their wonderful wine collection!<br><br>Last week's prize was a pair of high-end Adidas MI <br>Performance Customized shoes, courtesy of Adidas Japan, <br>
which was won by Neeru Modi.<br><br><a href="http://blogs.metropolis.co.jp/club/">http://blogs.metropolis.co.jp/club/</a><br>* 40 prizes scheduled in the next 40 weeks. <br>* No charge to enter.<br>* Simply receive the MMC newsletter to stay in the draw.<br>
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<br><br>+++ NEWS<br><br>- Trawler ramming leaked on Internet<br>- 2010 census done<br>- Major lease companies profits rise<br>- PET bottle trash export values up<br>- Samsung handset surpasses 32GB iPhone sales<br><br><br>
<br>-> Trawler ramming leaked on Internet<br><br>All hell has broken loose in the Japanese government over <br>who leaked footage of the ramming of a Japanese coast guard<br>ship by a Chinese trawler subsequently detained for fishing<br>
near the Senkaku islands. The footage was posted Thursday <br>and was all over the major TV channels and even JR news <br>screens on the Yamanote by Friday. The release is highly <br>embarrassing for PM Naoto Kan, who obviously has been <br>
hoping the ruckus over the incident would die down. ***Ed: <br>No coincidence, we suppose, that this leak happened just as<br>all the APEC top dogs were arriving in town? Have to say <br>that we were extremely surprised to see the footage on <br>
every single JR train carriage for most of Friday.** <br>(Source: TT commentary from <a href="http://asahi.com">asahi.com</a>, Nov 6, 2010)<br><br><a href="http://www.asahi.com/english/TKY201011050363.html">http://www.asahi.com/english/TKY201011050363.html</a><br>
<br>-> 2010 census done<br><br>The Ministry of Internal Affairs and Communications has <br>announced that the 2010 Population Census of Japan <br>conducted on October 1 is now officially completed. The <br>Ministry reckons that the census was a success, partly <br>
because it offered on a trial basis (in Tokyo only) the <br>option of completing the census on its website. Apparently <br>8.4% of all households chose this method of submission, <br>much more than originally expected. The first results of <br>
the census are due out in February 2011, with full data <br>available in October 2011. (Source: TT commentary from <br><a href="http://soumu.go.jp">soumu.go.jp</a> press release, Oct, 2010)<br><br><a href="http://www.soumu.go.jp/english/index.html">http://www.soumu.go.jp/english/index.html</a><br>
<br>-> Major lease companies profits rise<br><br>Fewer corporate bankruptcies in the first half of this <br>year, coupled with lower interest rates and companies <br>wanting to conserve cash outflows, has contributed to a <br>
major increase in leasing activity in Japan, and has meant<br>higher profits for the seven major listed companies in the <br>leasing sector. Fuyo General and NEC Capital apparently saw<br>profit increases of more than 100% each, while the others <br>
all had double-digit increases. (Source: TT commentary from<br>Nov 5, 2010)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20101105D05JFN02.htm">http://e.nikkei.com/e/ac/tnks/Nni20101105D05JFN02.htm</a><br><br>-> PET bottle trash export values up<br>
<br>Recycling used PET bottles is becoming quite lucrative, <br>thanks to the high demand for PET materials by Chinese <br>plastics firms. Apparently the per ton rates for used PET <br>bottles, once filling land fills in Japan, is now <br>
JPY55,000/ton, about 2-3 times the price of a year ago and <br>the highest price since exports of such trash began four <br>years ago. In case you were wondering, Japan exported <br>218,550 tons of used plastic bottles to China in the first 9 <br>
months of this year. (Source: TT commentary from <br><a href="http://nikkei.com">nikkei.com</a>, Oct 30, 2010)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20101105D04HH838.htm">http://e.nikkei.com/e/ac/tnks/Nni20101105D04HH838.htm</a><br>
<br>-> Samsung handset surpasses 32GB iPhone sales<br><br>Well, that's the headline anyway, and it made an impact on <br>media around the world -- as punters forecast the early <br>demise of Apple's dominance in the smart phone market. <br>
However, a little checking shows that Samsung's <br>Android-powered phone only outsold Apple's leading iPhone <br>model, the 32GB iPhone. If you added sales of the other <br>iPhone models together, then Apple is still in the lead. <br>
***Ed: Our take is that Apple will dominate the smart phone<br>market for another 1-2 years, then from there it will be <br>all Android, simply because dozens of companies supporting <br>the Android standard will eventually overwhelm Apple on a <br>
price, performance, and variety basis. But until then, <br>Apple is likely to keep introducing enough functional <br>upgrades that it will keep the competitors on their toes.**<br>(Source: TT commentary from <a href="http://businessinsider.com">businessinsider.com</a>, Nov 4, <br>
2010)<br><br><a href="http://www.businessinsider.com/samsung-iphone-japan-2010-11">http://www.businessinsider.com/samsung-iphone-japan-2010-11</a><br><br><br>NOTE: Broken links<br>Many online news sources remove their articles after just a<br>
few days of posting them, thus breaking our links -- we<br>apologize for the inconvenience.<br><br>***------------------------****-------------------------***<br><br>+++ CANDIDATE ROUND UP/VACANCIES<br><br>=> BiOS, a Division of the LINC Media group, is actively <br>
marketing the following positions for customers setting up <br>or expanding in Japan, as well as other employers of <br>bilinguals.<br><br>** HIGHLIGHTED POSITION(S)<br><br>BiOS is now urgently looking for experienced Network <br>
Engineers with experience supporting investment bank <br>infrastructure to work with a client’s network operations <br>out of a location in the Shin Kiba area. This role <br>predominantly involves maintenance and configuration of <br>
Cisco network products, in particular Switches and Routers,<br>but can also involve a deeper level of work depending on <br>your technical capabilities. As well as that, there is a <br>good opportunity here to earn extra money for project <br>
implementations and emergency requests.<br><br>Due to the technical nature and high pressure environment, <br>someone with solid experience from the finance industry, <br>and relevant qualifications (such as CCNA and CCNP) would <br>
be best suited to this role. In addition, due to the work <br>involving some out of hours support and potential weekend <br>project work, a flexible individual with a positive can-do <br>attitude, even under pressure, is essential. Finally, as <br>
this role will also involve vendor interactions on <br>occasion, your Japanese ability will need to be at a solid <br>business level to function effectively.<br><br>Remuneration is JPY6m – JPY7m depending on your experience <br>
and technical level.<br><br>** POSITIONS VACANT<br><br>- Network QA Analyst, Global Telecoms, JPY6m – JPY8m<br>- Various Helpdesk and Deskside Support, JPY3m – JPY5m<br>- Snr and Jnr PM, LCD Manf JPY3.5m – JPY4m<br>- Web Director, online shopping, JPY10m – JPY15m<br>
- Okinawa IT Manager, Investment bank, JPY5m – JPY6m<br><br>Interested individuals may e-mail resumes to:<br><a href="mailto:stuart.gibson@biosjp.com">stuart.gibson@biosjp.com</a><br><br>** BiOS Job Mail<br><br>Every 2 weeks BiOS sends out a regular communication to its<br>
job seeking candidates, called BiOS Job Mail. Every edition<br>carries a list of BiOS's current and most up-to-date<br>vacancies, with each entry featuring a short job<br>description and a direct link to the main entry on the BiOS<br>
home page. Regardless of whether you are unemployed and<br>searching, thinking about a career change, or just curious<br>to know if there is something out there that might suit you<br>better, the BiOS Job Mail newsletter is an easy and<br>
convenient way for you to stay informed. If you would like<br>to register for the BiOS Job Mail, or to find out more,<br>please email <a href="mailto:stuart.gibson@biosjp.com">stuart.gibson@biosjp.com</a>.<br><br>Interested individuals may e-mail resumes to:<br>
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-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br><br><br>+++ UPCOMING EVENTS/ANNOUNCEMENTS<br><br>------------------- CCH HR Seminar ------------------------<br>
<br>CCH Japan presents 'HR Seminar 2010'<br><br>Redundancy under The Current Economic Crisis<br>-Redundancy of Expatriate and Early retirement program-<br><br>Speaker: Hideki Kano: Partner of Anderson Mori & Tomotsune<br>
<br>Date:Friday, 19th November 1:30pm-5:00pm<br>Venue: Happo-en 5F Room 'Linden'<br>Number of Seats: 50seats<br>Language:English<br>Fees: JPY21,000 (Tax included)-->JPY18,900 (Tax included)<br>We offer a special 10% Discount for readers!!<br>
<br>Register at: <a href="https://www.cch-japan.jp/contents/register/form">https://www.cch-japan.jp/contents/register/form</a><br>For more details, please contact us at: <a href="mailto:support@cch.co.jp">support@cch.co.jp</a>,<br>
or 03-6234-3980.<br><br><a href="http://www.cch-japan.jp">www.cch-japan.jp</a><br>-----------------------------------------------------------<br><br>---------------- ICA Event - November 18 ------------------<br><br>Speaker: Garr Reynolds, Associate Professor of Business and<br>
Communication, Kansai Gaidai University, Osaka<br><br>Title: 'Presenting Naked with Visuals: Thinking Like a <br>Designer'<br><br>Details: Complete event details at <a href="http://www.icajapan.jp/">http://www.icajapan.jp/</a><br>
(RSVP Required)<br><br>Date: Thursday, November 18, 2010<br>Time: 6:30 Doors open, Buffet Dinner included and cash bar<br>Cost: 4,000 yen (members), 6,000 yen (non-members)<br>Open to all, at The Foreign Correspondents' Club of Japan<br>
<br><a href="http://www.fccj.or.jp/aboutus/map">http://www.fccj.or.jp/aboutus/map</a><br>-----------------------------------------------------------<br><br>----------------- Kea John Kirwan Event -------------------<br><br>
On Wednesday 8 December, Kea Japan will host an evening <br>with legendary All Black and current Japan National Rugby <br>Team coach John Kirwan at the New Zealand Embassy in Tokyo.<br><br>With Japan having been selected as host for the Rugby World<br>
Cup in 2019, we are expecting a number of Japanese friends <br>to attend as well on the night. Tickets are limited to 120 <br>so please reserve as soon as possible.<br><br>Date: Wednesday, 8 December 2010<br>Time: 19:00 to 21:30 (doors open at 19:00)<br>
Venue: New Zealand Embassy, Tokyo<br>Cost: 8,000 yen (includes all food and drinks)<br>Ticketing: To reserve a ticket contact <br><a href="mailto:japan@keanewzealand.com">japan@keanewzealand.com</a>.<br><br>The KEA John Kirwan Event will be supported by adidas Japan.<br>
adidas has supported the All Blacks and rugby in Japan <br>since the 1990's and is also proud to support this event.<br>A variety of adidas prizes will be given away on the night.<br><br>This event is supported by: The New Zealand Embassy (Tokyo),<br>
Tourism New Zealand, Kiwi Contacts and the Australia New <br>Zealand Chamber of Commerce (ANZCCJ).<br>-----------------------------------------------------------<br><br><br>***------------------------****-------------------------***<br>
<br>+++ CORRECTIONS/FEEDBACK<br><br>In this section we run comments and corrections submitted<br>by readers. We encourage you to spot our mistakes and<br>amplify our points, by email, to <a href="mailto:editors@terrie.com">editors@terrie.com</a>.<br>
<br>*** No comments or feedback this week.<br><br>***********************************************************<br>END<br><br>SUBSCRIBERS: 8,888 members as of November 7, 2010<br>(We purge our list regularly.)<br><br>+++ ABOUT US<br>
<br>STAFF<br>Written by: Terrie Lloyd (<a href="mailto:terrie.lloyd@japaninc.com">terrie.lloyd@japaninc.com</a>)<br><br>HELP: E-mail <a href="mailto:Terrie-request@mailman.japaninc.com">Terrie-request@mailman.japaninc.com</a><br>
with the word 'help' in the subject or body (don't include<br>the quotes), and you will get back a message with<br>instructions.<br><br>FEEDBACK<br>Send letters (Feedback, Inquiries & Information) to the<br>
editor to <a href="mailto:terrie.lloyd@japaninc.com">terrie.lloyd@japaninc.com</a>.<br><br>ADVERTISING INFORMATION<br>For more information on advertising in this newsletter,<br>Contact <a href="mailto:ads@japaninc.com">ads@japaninc.com</a>.<br>
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or, <a href="http://mailman.japaninc.com/pipermail/terrie/">http://mailman.japaninc.com/pipermail/terrie/</a><br><br>Copyright 2010 Japan Inc. Communications Inc.<br><br>----------------- Japan Inc opens up Japan ----------------<br>
<br>J@pan Inc is Japan's only independently published English-<br>language business website. Authoritatively chronicling <br>online the business trends in Japan, each posting brings <br>you in-depth analysis of business, people and technology in<br>
the world's second largest economy. <br><br>Visit <a href="http://www.japaninc.com">www.japaninc.com</a> for the best business insight on<br>Japan available.<br>-----------------------------------------------------------<br>
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