* * * * * * * * * 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, May 13, 2012, Issue No. 661<br>
<br>+++ INDEX<br><br>- What's New -- Surprising Trend in Number of New Companies<br>- News -- Kyoto University gets important patent in USA<br>- Upcoming Events<br>- Corrections/Feedback -- Dual nationality for Japan<br>
- Travel Destinations Picks -- Hokkaido and Miyazaki<br>- Japan Business Q&A -- Property Taxes<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>
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<br>------------ PBXL is BUSINESS COMMUNICATIONS --------------<br><br>+++ WHAT'S NEW<br><br>If you were asked whether there were more or less new <br>companies being formed in Japan over the two years of 2009 <br>and 2010, post-Lehman but before the earthquake, you would <br>
probably say "less". Certainly we would have. Things are <br>clearly getting worse for many domestic companies and there<br>were a bunch of them going out of business last year -- <br>12,707 owing JPY10m or more. This isn't a record, but it <br>
does represent the jobs of tens of thousands of people, and<br>a lot of bad loans losses to the banks.<br><br>To our surprise, the real answer is that the number of <br>companies being started up each of those two years in fact <br>
exceeded the number shutting down by a substantial margin. <br>Specifically, there were 86,016 new companies started in <br>2009 and 87,916 in 2010. At the same time, just 35,935 <br>companies shut down in 2009 and 35,622 in 2010. So that's a<br>
surplus of around 52,000 companies a year, which means <br>Japan had a healthy inventory of 3,441,000 (approx.) <br>registered companies as of December 2011. We don't have the<br>number of new companies formed in 2011, but we believe it <br>
will be up as well, due to the re-establishment of <br>businesses connected to the Tohoku disaster.<br><br>So what's going on here? How is it that the nation is <br>experiencing a rather impressive surge of new companies <br>
even as the economy continues to tank for domestic-only <br>firms? <br><br>As far as we can see, there are two major reasons apart <br>from the obvious one of ambitious dreams. They are: <br>government largesse and taxes.<br>
<br>Government Largess:<br>When the People's New Party (Kokumin Shinto) formed a <br>coalition with the DPJ in 2009, it was able to put one of <br>its founders, Shizuka Kamei, in to the banking and postal <br>services post within the Hatoyama cabinet. From this <br>
position, Kamei immediately started voicing concern about <br>the spiraling rate of bankruptcies of small- and <br>medium-sized companies and urged action by the government <br>to force a moratorium on loans taken by stressed SMEs, on <br>
to their banks. Actually, there are rumors that Kamei had <br>ulterior motives for doing this:<br><br><a href="http://www.worldpolicy.org/blog/last-yakuza">http://www.worldpolicy.org/blog/last-yakuza</a><br><br>[Continued below...]<br>
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<br>---------- YOUR BOTTOM LINE IS OUR TOP PRIORITY------------<br><br>[...Article continues]<br><br>Following his public pressuring, the government wound up <br>passing a law providing for the moratorium and backed it up<br>
by having the Financial Services Agency (FSA) "encourage" <br>the banks to comply. So it was that the banks started <br>rolling over loans and collect interest only -- a major <br>departure from previous financial policy (especially by the<br>
banks) and the start of a rather surreal period. Actually, <br>the legislation was very clever, because the government <br>made sure that the loan roll-overs were a "willing" act by <br>the banks and thus it didn't pick up direct liability for <br>
them. Yes, it is on the hook for funding to a <br>semi-governmental guarantee corporation backing the loans <br>-- but for the time being this money is an investment <br>rather than a liability.<br><br>The action has meant several things: <br>
i) An eventual reckoning with all these zombie companies <br>has yet to come and will provide interesting statistics <br>once the the moratorium runs out early next year. <br>ii) The banks and indirectly the government have a growing <br>
liability that won't be known until the banks do eventually <br>call in their credits next March. As of 2010, it was <br>estimated that 500,000 companies had rolled over their <br>loans. We imagine that number is at least 750,000 companies<br>
by now.<br>iii) No one seems to know just how much money is at stake. <br>Our guess is that probably more than 250K (half) those <br>companies with stalled loan repayments will go under if the <br>moratorium is lifted, causing the loss to banks of more than <br>
JPY5trn. <br><br>But on the upside, the moratorium has meant that loads of <br>companies which would otherwise have disappeared are still <br>gamely limping along and keeping their staff employed. This<br>is after all the real target of government policy vis-a-vis <br>
SMEs and so in this respect they have been successful. <br>Because of this, we think that while the moratorium was <br>only supposed to last 3 years, the current difficult <br>business environment will ensure that it will be continued <br>
another 1-3 years. If it isn't, then you can expect the <br>bankruptcy rates and unemployment to soar next year.<br><br>Taxes:<br>The other big motivator to establishing a company is taxes,<br>or the reduction of them. While salarymen/women are unable <br>
to deduct much of anything from their incomes, with the <br>advent of "non-regular" workers (part-timers, temps, <br>contract staff, etc.), who now account for 34.4% of the <br>workforce, having a company can completely turn the tables <br>
tax-wise. Company owners get to claim against income a <br>generous portion of their accommodation, travel, <br>entertainment and a broad swathe of other expenses. This is<br>not to say that being a non-regular worker is a cushy <br>
number, far from it. But it does give rise to the desire to<br>incorporate and to take advantage of the tax deductions <br>available.<br><br>Further, there are also a lot more people making money from<br>side jobs and Internet jobs, and again many of these people<br>
see a company as a tax-savings facilitator. <br><br>Lastly, since companies don't die, it is possible to vest <br>assets into a firm such that it continues to own and milk <br>those assets for future generations of family/shareholders.<br>
This is a simple ploy to get around Japan's harsh 50% <br>inheritance tax policy, and since the government has <br>announced that it may increase inheritance taxes in the <br>near future, this is just another incentive to get a <br>
company established quickly.<br><br>So apart from "past-due companies" and those set up for tax<br>arrangements, the number of firms actually newly <br>contributing to Japan's labor force and general economy is <br>
probably significantly less than the numbers would <br>indicate. In 2010, around 7,153 so-called Godo Gaisha <br>companies were formed within the overall 87,916 number. <br>These are the next generation of (discontinued) Yugen <br>
Gaisha, and are primarily favored by boot-strapping <br>start-ups because they are cheap to establish and run. <br>As such, they are probably the real new contributors<br>to Japan's commercial base. It's a shame there is so<br>
few of them.<br><br>Mentioning Yugen Gaisha (YK's), although they were made <br>redundant as an establishable entity back in 2005, there are<br>still about 1,720,000 still in existence. Our guess is that<br>at least half of these are wealth protection entities and <br>
as such will remain on the books for some years to come.<br><br><br>...The information janitors/<br><br>***------------------------****-------------------------***<br><br>-------------------- Delta Air Lines ----------------------<br>
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<br>Terms and conditions apply.<br>Please visit <a href="http://delta.com">delta.com</a> for full details.<br>-----------------------------------------------------------<br><br>+++ NEWS<br><br>- Seto Inland Sea cycling route for Tourists<br>
- New legislation to limit cab numbers?<br>- Kyoto University gets important patent in USA<br>- Manufacturers, retailers have full warehouses<br>- Helium blimps for emergency radio transmitters<br><br><br><br>-> Seto Inland Sea cycling route for Tourists<br>
<br>We've been saying for a while now that Japan is a great <br>place to cycle. Drivers are reasonably courteous, on <br>country roads they tend to travel at lower speeds, and the <br>landscape outside the cities is beautiful. It's only a <br>
matter of time before cycling tourists from other countries<br>discover this, and the likelihood of that happening is <br>being increased by a new promotion being run by the Ehime <br>and Hiroshima Prefectural Governments and Taiwanese cycle <br>
manufacturer, Giant. The three organizations have opened <br>and are promoting a 265km cycle touring route past some of <br>the most scenic parts of the Seto Inland Sea. The target <br>users for the route are foreign tourists in particular. <br>
***Ed: Right on!** (Source: TT commentary from <br><a href="http://japantimes.co.jp">japantimes.co.jp</a>, May 12, 2012)<br><br><a href="http://www.japantimes.co.jp/text/nn20120512b6.html">http://www.japantimes.co.jp/text/nn20120512b6.html</a><br>
<br>-> New legislation to limit cab numbers?<br><br>In what we think is a retrograde step, the government is <br>considering legislation to reduce the number of cabs on the<br>road. Apparently there is a surplus of cabs due to a major <br>
change in the licencing rules in 2002. Nowadays anyone can <br>operate a cab so long as they meet safety and operating <br>standards. ***Ed: Our take is that the politicians <br>sponsoring this legislation are probably representing the <br>
larger operators, who are suffering from the competition <br>and crying poor. Strange how everyone still operates on the<br>same pricing, though, isn't it?** (Source: TT commentary <br>from <a href="http://e.nikkei.co.jp">e.nikkei.co.jp</a>, May 12, 2012)<br>
<br><a href="http://e.nikkei.com/e/ac/tnks/Nni20120512D1105F03.htm">http://e.nikkei.com/e/ac/tnks/Nni20120512D1105F03.htm</a><br><br>-> Kyoto University gets important patent in USA<br><br>Recognizing its ownership of the discovery of how to create<br>
stem cells from adult tissue, Kyoto University has been <br>awarded an all-important commercialization patent from the <br>US Patent Office. The patent means that any products or <br>processes derived from the patent and subsequently <br>
commercialized, which means pretty much all products <br>developed in the USA in particular (since fetal stem cell <br>research is banned there). The university has already said <br>that it will keep licencing fees low, so as to encourage <br>
global research into cell regenerative medicine. (Source: <br>TT commentary from <a href="http://e.nikkei.co.jp">e.nikkei.co.jp</a>, May 12, 2012)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20120512D12JF386.htm">http://e.nikkei.com/e/ac/tnks/Nni20120512D12JF386.htm</a><br>
<br>-> Manufacturers, retailers have full warehouses<br><br>A report from real estate firm CBRE has found that the <br>vacancy rate for 54 major warehouses feeding the Tokyo <br>metropolitan area is just 4.5%, the second lowest rate of <br>
space available since March 2005. Further, vacancies for the <br>Kinki region is essentially zero. Since warehouses in Tokyo <br>and Kinki supply about 80% of Japanese consumer goods, <br>this situation is unusual and is keeping warehouse owners and <br>
operators happy. ***Ed: So the big question is WHY the <br>warehouses are full? The smart money is saying that it's <br>due to companies stocking up before possible summer power <br>cuts, when manufacturers are going to have to reduce shifts<br>
or move production times to weekends.** (Source: TT <br>commentary from <a href="http://e.nikkei.co.jp">e.nikkei.co.jp</a>, May 8, 2012)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20120508D08EE961.htm">http://e.nikkei.com/e/ac/tnks/Nni20120508D08EE961.htm</a><br>
<br>-> Helium blimps for emergency radio transmitters<br><br>Softbank is testing helium blimps in Aichi-ken as part of a<br>new emergency system that will have the blimps replace <br>radio transmission towers damaged in earthquakes, fires, <br>
and other disasters. The company will place the blimps 100m<br>above the ground over each transmission node that is <br>damaged and will service a radius of approximately 3km. The<br>blimps will connect through trucks on the ground that <br>
reconnect them to parts of the company network still <br>working. ***Ed: Pretty cool stuff. Smart, too, since unlike<br>NTT DoCoMo, which has put redundant radio towers in, the <br>Softbank solution allows them to set up the blimps only <br>
where and when they are needed.** (Source: TT commentary <br>from <a href="http://pcworld.com">pcworld.com</a>, May 12, 2012)<br><br><a href="http://bit.ly/JlmlTo">http://bit.ly/JlmlTo</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>
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special packages to fit your needs!<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<br><br>BiOS is urgently looking for a Field Engineer to work for <br>an international data center services provider in Tokyo. <br>
The candidate will be responsible for providing hardware <br>and application support for clients within several data <br>centers in the Tokyo area, both onsite and remotely, as <br>well as installation, configuration, troubleshooting, and <br>
the remote support of hardware. You will also be <br>responsible for monitoring servers and network equipment in<br>the center, as well as for cabling support and escorting <br>visitors to the data center.<br><br>Due to the technical nature and demanding work environment,<br>
this position is suitable for someone with more than 2 <br>years of experience as an engineer within a data center or <br>similar sensitive IT environment (iDC, server monitoring <br>room, etc.). In addition, since this role requires direct <br>
coordination with both regional and global IT teams, fluent<br>Japanese and Business English will be required.<br><br>Remuneration is JPY4.2m – JPY4.8m depending on your <br>experience and skill level.<br><br>** POSITIONS VACANT<br>
<br>- Staffing Consultant, BiOS, 2.5MJPY – JPY3.0M<br>- Elec. Facility Engr, global Data Center co., 4.8M – 5.4M<br>- Project Mgr (infrastructure), global bank, JPY6M – JPY11M<br>- Desktop/Branch Support Engr, global bank, JPY4M – JPY5M<br>
- Account Manager, BiOS, 3.5M – 4M<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:tomohiro.kimura@biosjp.com">tomohiro.kimura@biosjp.com</a>.<br><br>Interested individuals may e-mail resumes to:<br><a href="mailto:tomohiro.kimura@biosjp.com">tomohiro.kimura@biosjp.com</a><br>
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Web: <a href="http://www.biosjp.com">www.biosjp.com</a><br>-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br><br>+++ UPCOMING EVENTS/ANNOUNCEMENTS<br>
<br>---------------- Start a Company in Japan -----------------<br><br>Entrepreneur's Handbook Seminar 2nd of June, 2012<br><br>If you have been considering setting up your own company,<br>find out what it takes to make it successful. Terrie Lloyd,<br>
founder of over 17 start-up companies in Japan, will be <br>giving an English-language seminar and Q and A on starting <br>up a company in Japan.<br><br>This is an ideal opportunity to find out what is involved,<br>and to ask specific questions that are not normally <br>
answered in business books. All materials are in English <br>and are Japan-focused.<br><br>For more details:<br><a href="http://www.japaninc.com/entrepreneur_handbook_seminar">http://www.japaninc.com/entrepreneur_handbook_seminar</a><br>
<br>-----------------------------------------------------------<br><br>------------- GIVING BACK TO JAPAN 2/TPF² -----------------<br><br>During the past year, a great deal of progress has been <br>made in relieving people's immediate needs in Tohoku. Yet<br>
years of reconstruction remain ahead. While the Government <br>is first addressing major infrastructural needs, the view <br>from the region's cities and towns is understandably more <br>focused on repairing the social fabric of communities.<br>
<br>On May 16, The Netherlands Chamber of Commerce and Tohoku<br>Planning Forum, supported by 16 chambers of commerce and <br>Hitotsubashi University ICS, will present GIVING BACK TO<br>JAPAN 2: Community Leaders Report. This public forum will<br>
feature leaders of cities and towns across Tohoku, whose<br>communities face major challenges.<br><br>The speakers will be the mayors of Ofunato (Mr. Kimiaki <br>Toda), Yamada (Mr. Kiichi Numazaki),Aizu Misato (Mr. <br>Hidetoshi Watanabe), Iwanuma (Mr. Tsuneaki Iguchi) and <br>
Onagawa (Mr. Yoshiaki Suda). TV/Radio presenter Peter <br>Barakan will guide the discussion about communities' <br>rebuilding processes and ongoing needs, as well as having <br>the Mayors present suggestions on how individuals and <br>
organizations can help their communities. A buffet and<br>networking opportunity will follow.<br><br>For information and registration for this free event: <br><a href="http://www.tpf2.net">www.tpf2.net</a><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>=> In TT-659 we covered the problem of 70% kids having an <br>aversion to English -- primarily because of how it is <br>
taught, or, more specifically, how it is tested.<br><br>*** Reader says: One solution, albeit with all kinds of <br>bureaucratic obstacles (surprise!), to the decline in <br>Japanese youth willing to study abroad, would be for Japan <br>
to allow dual citizenship. Currently there are many <br>Japanese living abroad who hold both Japanese and foreign <br>(mostly US) passports. These are people who speak English, <br>know the culture, and know Japan. The fact that they <br>
haven't dropped their Japanese passports indicates at least<br>some emotional tie, perhaps even fondness, for Japan. <br>Technically, though, Japan does not recognize dual <br>citizenships. The US, of course, does -- the US is no <br>
altruist, they tax on worldwide income, so as difficult as <br>they are when it comes to giving out citizenships, once <br>they have you, they have a financial incentive to keep you. <br><br>Until recently, the Japanese Government didn't do much <br>
about these dual citizens living abroad, partly because it <br>was difficult to figure out which Japanese citizens had <br>other passports. But for whatever reason (and the reasons <br>do seem unclear), the government has started to crack down.<br>
For example, if you hold a Japanese and US passport, and <br>you try to renew your Japanese passport at a consulate or <br>embassy abroad, they will ask for a valid visa to prove <br>that you have the right to be in that country. If you show <br>
the passport of the other country as proof of your right to<br>be in that country, they will refuse to give you a new <br>Japanese passport.<br><br>The mysterious thing is that this is a Foreign Ministry <br>initiative, when in theory enforcing the law should be done <br>
at the behest of the Justice Ministry. Again, mysterious.<br><br>But why do this in the first place? Why force a segment of <br>the population that is the most international to give up <br>their Japanese passports?<br><br>
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<br>+++ TRAVEL DESTINATIONS PICKS<br><br>=> Cafe Good Life: Asahikawa's Retreat, Hokkaido<br><br>Set in the hills just outside Asahikawa, Cafe Good Life <br>offers more than just a good meal for those who make the <br>
journey. Established a little more than five years ago, the<br>cafe attracts tourists drawn to nearby Asahidake, <br>Hokkaido's tallest peak, as well as locals from the <br>surrounding towns. Reasonably priced, delicious food in a <br>
beautiful rural setting is what attracts them, but it's the<br>atmosphere the owners, Shibuya and his wife Machiko, create<br>that makes people linger and keeps them coming back.<br><br><a href="http://japantourist.jp/view/cafe-good-life-asahikawa-s-retreat">http://japantourist.jp/view/cafe-good-life-asahikawa-s-retreat</a><br>
<br>Bokusui Koen, Miyazaki<br><br>Miyazaki is rich in such natural spots, and the further <br>inland you go, the better you will be rewarded. Bokusui <br>Park (Koen) is one jewel of an example. The poet Bokusui’s <br>house is inside the park, and you can actually catch a <br>
glimpse of the rooms from the outside. If you follow the <br>steps behind the house, you will come to a small shrine and<br>a stone slab with one of the writer’s poems. There is also <br>a museum in the park if you want to learn more about him. <br>
Across from the house is an expansive park with several <br>viewing platforms from which to take in the scenery. Kids <br>will enjoy the many slides and other contraptions built <br>into the hills. One can take a picnic lunch and enjoy the <br>
surroundings, or have a soba lunch at a restaurant right <br>inside the park.<br><br><a href="http://japantourist.jp/view/bokusui-koen">http://japantourist.jp/view/bokusui-koen</a><br><br>***------------------------****-------------------------***<br>
<br>+++ JAPAN BUSINESS Q&A<br><br>=> Question<br><br>I am considering buying a property in Japan, what taxes<br>should I be aware of?<br><br>*** Answer<br><br>The following taxes would be imposed when you purchase a<br>
property in Japan.<br><br>- Real property acquisition tax (Fudosan Shutoku Zei)<br>The real property acquisition tax is a prefectural tax on<br>individuals who acquire land or who acquire houses located<br>in the prefecture during the year.<br>
<br>- Registration and license tax (Toroku Menkyo Zei)<br>The registration and license tax is a national tax imposed<br>on a person who registers a real estate.<br><br>To continue reading, see:<br><a href="http://www.nagamine-mishima.com/archives/2826?lang=en">http://www.nagamine-mishima.com/archives/2826?lang=en</a><br>
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