* * * * * * * * * 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, July 08, 2012, Issue No. 669<br>
<br>+++ INDEX<br><br>- What's New -- Foreigners Easy Source of Taxes<br>- News -- Rumors of October Election<br>- Upcoming Events<br>- Corrections/Feedback<br>- Travel Picks -- Shikoku & Kumamoto, Kyushu<br>- Japan Business Q&A -- Tax and Non-residents<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 TOTAL TELEPHONY SOLUTION (TTS) ------------<br><br>PAYING TOO MUCH FOR MONTHLY CALLING CHARGES?<br>
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e-mail us at <a href="mailto:info@pbxl.jp">info@pbxl.jp</a> or call us at 03-4550-2557<br><br>------------ PBXL is BUSINESS COMMUNICATIONS --------------<br><br>+++ WHAT'S NEW<br><br>Now that the rise in Consumption Tax to 8% then 10% is all <br>
but assured, we think there are some very interesting <br>changes in store for how the Japanese Government and <br>Japanese companies think about making money. In particular,<br>the fear of not having financial security may finally push <br>
the authorities to internationalize the country at a speed <br>that civilized debate could not.<br><br>Traditionally Japanese firms have opted for plenty of <br>people and the "factory model" -- where, regardless of <br>
whether it was a factory for making things or a more <br>abstract one, like a call center or a gyudon chain, they <br>have never shied away from hiring more people to make their<br>plans happen. But now that the increased consumption taxes <br>
are being piled on top of soaring social welfare payments, <br>the bite is starting to be felt. We feel that the <br>consumption tax is insidious because the Japanese model <br>ignores the cost of people as a cost of inputs when <br>
calculating taxes payable, thus increasing the tax burden <br>for those companies who continue to hire local staff. We <br>find it ironic that the Japanese government in its search <br>for financial security ignores the one input that for most <br>
services businesses comprises 70% of their costs. <br><br>Thus it is easy to come to the conclusion that people-heavy<br>domestic companies are going to either downsize their staff<br>levels with automation and heavier work loads on remaining <br>
employees, or off-shore them. Either way, this will <br>exacerbate the tax base shrinkage and will shorten the <br>credit extension the consumption tax rise has brought.<br><br>Below is a snapshot of how companies are taxed at the <br>
moment. As you can see there are the usual taxes which add <br>up to 38% or so, then there is the ever-rising social <br>insurance cost, which, since the Tax Office is going to be <br>collecting Social Insurance premiums in the future, will <br>
indeed be just another tax to pay. For services based <br>companies where 2/3 of their costs are in hiring people, it<br>means that social insurance adds up to an indirect tax of an<br>extra 12.5% (18% x 70%) -- meaning that they will be paying<br>
on a compulsory basis about 51% of their earnings in tax.<br><br>[Continued below...]<br><br><br>--- NAGAMINE & MISHIMA - Securing Your Success in Japan ---<br><br>Starting a new company in Japan? Looking to streamline<br>
your current operations?<br><br>The team of bilingual experts at Nagamine & Mishima is able<br>to provide high quality accounting, payroll and tax<br>services that both exceed expectations and fit your budget.<br>Our services help customers improve their operations and<br>
bottom line results.<br><br>To find out more about our services and how we can help<br>your business in Japan succeed, please visit our website<br><a href="http://www.nagamine-mishima.com">www.nagamine-mishima.com</a> or reach us directly by telephone<br>
at 03-3581-1975 or by email at <a href="mailto:info@nagamine-mishima.com">info@nagamine-mishima.com</a>.<br><br>---------- YOUR BOTTOM LINE IS OUR TOP PRIORITY------------<br><br><br>[...Article continues]<br><br>Estimate of taxes paid by mid-size services company in <br>
Tokyo:<br>* National tax 28% (after current surcharge adjustment, <br>runs to 2015 and may decrease 2.5% -- maybe)<br>* Local and Enterprise taxes 10% approx. (mid-sized firm in<br>Tokyo)<br>* Social insurance 15.2% now and 18% in 5 years time (average <br>
salaried worker in Tokyo)<br>* Consumption tax 5% now and 10% by 2014 (probably 15% in 5<br>years time)<br><br>Total tax burden: 51% of corporate income<br><br>Actually, our calculations pre-suppose that those companies<br>
are making profits and can actually pay the taxes. In fact,<br>about 70% of Japanese companies are on the borderline <br>already they don't make enough profit to pay taxes. Of the <br>remainder, the Economist reckons that a quarter of listed <br>
companies have profits of less than 2% and only 7% of <br>companies, almost all exporters and internet firms, are <br>making more than 15%. <br><br>Given that consumption tax and social insurance are both <br>taxes that ignore the actual profits of a company, the <br>
proposed increases in both imposts threaten to tip a <br>large number of companies even deeper into the red and into<br>bankruptcy. How many? Well, we estimate that there are <br>about 100,000 companies not paying their bank loan <br>
principal payments, per the loan repayments moratorium set <br>up by Kamei 3 years ago, and most of these are not healthy <br>enough to take more hits. Actually, the real attitude of <br>the government to these companies -- whether to "purge" <br>
them or continue supporting them, will become clear once it<br>announces before March next year whether it will extend the<br>moratorium or let it lapse. If they don't extend, you can <br>expect a big surge of failures and most likely some major <br>
bank problems mid-2013 as well.<br><br>So we have a scenario of weeding out of employers and <br>those remaining employing substantially less people in <br>Japan. We think the tax authorities can already see this <br>writing on the wall and therefore have realized they need <br>
to urgently move the tax base from salaries and company <br>profits, which will continue shrinking, and put it on <br>living/consuming instead. At least in that way they can <br>claw back income from retired people, the unemployed, and <br>
especially families with the most voracious consumers of <br>all -- kids.<br><br>So if you were a beady eyed tax man and you could see the <br>tax base falling, how would you go about raising more <br>revenue without sending a bunch of companies bankrupt? Well<br>
in the USA, the IRS has come up with a very imaginative <br>solution of casting their tax base net worldwide, through <br>their pending FATCA legislation. This will go after the 7m <br>US citizens and green card holders (think Asians and <br>
Chinese in particular) who work abroad but don't <br>necessarily report their off-shore earnings to the IRS. Now<br>with FATCA, anyone looking to stash money with a non-US <br>financial institution will quickly find themselves being <br>
caught up in a net of reporting back to the IRS.<br><br>There is a lesson to be learned here by Japan. Firstly, <br>look to the 1m or so Japanese living abroad for taxes, and <br>secondly increase the tax base with foreigners. How? Well:<br>
* Permanent residence should be purchasable (sorry, <br>"investment-driven"), just as it is for green cards, which <br>would bring in some thousands of wealthy Asian retirees <br>every spring and autumn, should they have flexible <br>
access. Think Miami and snowbirds from Canada.<br>* Increase tourism drastically, since every tourist pays <br>consumption tax each time they sleep and eat.<br>* Make it easier for foreigners to buy assets in Japan, and<br>
thus move real cash here.<br><br>The types of transactions that will help Japan's financial <br>problems the most are those of a capital intensive nature. <br>At the high end you have the purchase of companies and <br>
their assets, where the value is high but the frequency is <br>low. The government is possibly going to be holding <br>thousands of bad loans next year and has the right to <br>liquidate those companies. Putting them on the block for <br>
foreign investors could be an interesting proposition. Then<br>at the other end, there is the purchase of land, where the <br>value is moderate but the frequency (depending on <br>government controls) could be high. There are 4.5m empty <br>
homes in Japan and dozens of prefectures with continuously <br>falling land prices and little or no domestic demand to buy<br>-- so there is plenty of inventory.<br><br>Luckily, there are also plenty of buyers as well, if you <br>
consider that there are 2.7m millionaires in China (63,500 <br>with assets of US$15m or more) and none of them is able to <br>own land outright in their own country nor to pass land <br>assets on to their kids. And now they are probably going to<br>
be less enamored with moving to the USA thanks to FATCA. <br>This is a great opportunity for Japan to hang out a <br>selective "welcome" sign. Indeed, we think that this <br>thought has already occurred to the Japanese government, <br>
which is why they are aggressively relaxing travel visa <br>restrictions. <br><br>Yes, sure, if too much happens too fast, it will cause <br>friction with the right wingers. But done right, quietly <br>with companies representing the real purchasers (at the <br>
same time providing a work-around for Japan's high death <br>taxes), the Japanese real estate market could bring in tens<br>of billions of dollars of new tax payers with no strings <br>attached. Heck, we don't even have to cover hospital and <br>
aged care to these people, since they wouldn't have paid <br>into the Japanese social welfare system for at least 25 <br>years... :-)<br><br>**************<br>Speaking of land, our sister company Metropolis is listing <br>
a wonderful wooded plot next to the 27-hole Enrei golf <br>course in Suwa, Nagano, for just JPY6,800,000 (about <br>US$80,000). The property is 1,032 square meters, and is <br>located right on the edge of the golf course, so that you <br>
will never be built out. See photos and a full description <br>here. <br><br><a href="http://bit.ly/LzdHST">http://bit.ly/LzdHST</a>. <br><br>The owner is keen to sell quickly, which is why the <br>property is so competitively priced.<br>
<br><br><br>...The information janitors/<br><br>***------------------------****-------------------------***<br><br>-------------------- Delta Air Lines ----------------------<br><br>ATLANTA’S NEW TERMINAL IS NOW OPEN TO THE WORLD<br>
<br>On May 16th, the Maynard H. Jackson Jr. International <br>Terminal opened at Hartsfield-Jackson Atlanta International<br>Airport (ATL). This state-of-the-art, LEED-certified <br>terminal accommodates more passengers and makes <br>
international travel a breeze.<br><br>Customers travelling from Asia Pacific to Atlanta will <br>arrive mostly at Concourses E or F, while flights from <br>"pre-cleared" countries will arrive on Concourses T through<br>
D.<br><br>If Atlanta is your final destination:<br>- You will proceed through Passport Control and claim your<br>baggage at the new international terminal.<br>- You will no longer need to recheck your baggage upon <br>exiting Customs.<br>
- There is a passenger pickup area and ground <br>transportation center at the new international terminal.<br>- From the international terminal, complimentary shuttles <br>are available to both the domestic terminal which includes <br>
MARTA, as well as to the rental car center.<br><br>We know these new arrangements will smooth your trip to <br>Atlanta and we look forward to serving you on your next <br>flight.<br><br>For more information about the international terminal, <br>
please visit <a href="http://delta.com">delta.com</a><br>-----------------------------------------------------------<br><br>+++ NEWS<br><br>- Excitement over budget stand-off<br>- BlackRock is Japan's leading asset manager<br>
- Japan commits to buy first four F-35s<br>- Tokyo Metro introducing interpreting service for tourists<br>- Rumors of October election<br><br><br><br>=> Excitement over budget stand-off<br><br>The foreign media have been getting excited over a comment <br>
by the Finance Minister that the government may not be able<br>to pay its bills if the budget stand-off doesn't end soon. <br>Jun Azumi was commenting about the fact that the deficit <br>financing bill of JPY38.3trn has to be passed by the end of<br>
September to provide cash for the government to operate. <br>The opposition parties caused delays to a similar <br>appropriation bill last year, and are expected to do so <br>again this time around. ***Ed: This is of course just <br>
business as usual for Japanese politics, and no one wants <br>to be responsible for a fiscal meltdown just before an <br>election. There will be the usual amount of grimacing and <br>posturing, but in the end the spending bill will get passed<br>
-- otherwise what was all the effort expended on the <br>consumption tax increase all about?** (Source: TT <br>commentary from <a href="http://rt.com">rt.com</a>, Jul 6, 2012)<br><br><a href="http://bit.ly/NxIGKQ">http://bit.ly/NxIGKQ</a><br>
<br>=> BlackRock is Japan's leading asset manager<br><br>Reflecting the realignment of Japan's major pension funds <br>into more foreign and alternative assets, as well as their <br>desire to work with just a few vendors, the Japan Pensions <br>
Industry Database (JPID) has put out research showing that <br>the top asset manager is now BlackRock, and that the <br>company is pulling away from its competitors, Sumitomo <br>Mitsui Trust Bank and Mizuho Trust & Banking. BlackRock <br>
now apparently manages JPY13.8trn, including the biggest <br>share of government pensions' money. Overall the Japan <br>pension's market is worth around JPY79trn, about JPY56trn <br>in government funds and JPY23trn in corporate funds. <br>
(Source: TT commentary from <a href="http://ft.com">ft.com</a>, Jul 8, 2012)<br><br><a href="http://on.ft.com/NxHhEd">http://on.ft.com/NxHhEd</a><br><br>=> Japan commits to buy first four F-35s<br><br>After lots of bickering over price, the Ministry of Defense<br>
has committed to buy four F-35A fighter planes at an <br>increased tag of US$128.61m each, about US$3.7m more than<br>the original price. Apparently the cost went up after the <br>US Department of Defense cut back its original order with <br>
maker Lockheed Martin, forcing up the price due to <br>amortization of R&D costs. Japan plans to buy 42 plans, <br>training equipment, and spare parts over the next ten <br>years, at an aggregate cost of around US$66bn [Ed: give or <br>
take a billion here and there...]. The Japanese apparently <br>decided on the F-35A's, even though they are still in <br>development, after becoming aware of the capabilities of <br>China's J-20 aircraft. ***Ed: Nice piece of business for US<br>
defense industry, and a reaffirmation of the solid ties <br>between the US and Japan.** (Source: TT <br>commentary from <a href="http://defense-update.com">defense-update.com</a>, Jul 4, 2012)<br><br><a href="http://bit.ly/L118tl">http://bit.ly/L118tl</a><br>
<br>=> Tokyo Metro introducing tourist interpreting service<br><br>Tokyo Metro is starting a new iPad-based interpreting <br>service for the deaf and also foreign tourists at 14 <br>stations about the capital from August. Mori Building also <br>
apparently is planning to install the same service, which <br>is provided by a company called ShuR and a related Call <br>Center firm called Rsystem. Initially English, Chinese, and<br>Korean will be supported. No word on whether foreign sign <br>
language is on the list, although Japanese sign language <br>is. (Source: TT commentary from <a href="http://e.nikkei.com">e.nikkei.com</a>, Jul 7, 2012)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20120706D0607A03.htm?GID=58">http://e.nikkei.com/e/ac/tnks/Nni20120706D0607A03.htm?GID=58</a><br>
<br>=> Rumors of October election<br><br>Japanese politics is sometimes so unimaginative that it is<br>easy to guess that PM Noda is now planning to call a <br>general election in October, just after the deficit funding<br>
bill is due to be passed. The rumor that an election is <br>timed for Fall comes from an alleged comment by Noda to the<br>LDP recently, which was no doubt part of his consumption <br>tax negotiating strategy. ***Ed: For both the DPJ and LDP, <br>
an election this year is far more desirable than one next <br>year, when increasing public opposition to nuclear power <br>and the ability of Ozawa's break-away party and Osaka's <br>Hashimoto to respectively organize themselves will be far <br>
more developed. Who will win? Our guess is that there might<br>be hung result, and a DPJ/LDP coalition of sorts eventually<br>being formed. This assumes that Ozawa's break-away party <br>members mostly lose their seats.** (Source: TT commentary <br>
from <a href="http://japantimes.co.jp">japantimes.co.jp</a>, Jul 8, 2012)<br><br><a href="http://bit.ly/LyejYH">http://bit.ly/LyejYH</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>---------- Japan Inc Communications: Now Hiring -----------<br>
<br>Japan Inc Communcations, publisher of the ACCJ Journal, the<br>official magazine to the largest foreign chamber of <br>commerce in Japan, is seeking a talented sales executive.<br><br>The job will involve listening to Presidents/CxOs of major<br>
multinational companies, understanding their needs, then<br>coordinating with our various production teams to manage <br>the delivery of those services and projects to each client.<br><br>The ideal candidate will be bilingual, have a strong<br>
interest in business and in meeting people, and able to pay<br>attention to detail and keep deadlines. This position is<br>open to both experienced and entry-level candidates. Apply <br>with resume to <a href="mailto:jobs@japaninc.com">jobs@japaninc.com</a>.<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 Data Center Engineer to <br>provide media service support at our global financial <br>
clients’ data centers in the Tokyo and Saitama areas. The <br>candidate will be responsible for setting up and removing <br>tape library equipment, updating the tape libraries, as <br>well as checking data availability. You will also be <br>
responsible for coordinating vendor schedules, reporting to<br>data center leaders, and providing ad-hoc support at the <br>data centers.<br><br>Due to the technical nature and demanding work environment,<br>this position is suitable for someone with at least one <br>
year of hardware support with user support background. In <br>addition, since this role requires direct coordination with<br>both regional and global IT teams, business-level English <br>and business-level Japanese will be required.<br>
<br>Remuneration is JPY3M – JPY3.6M depending on your <br>experience and skill level.<br><br>** POSITIONS VACANT<br><br>- Service Delivery Mgr, DC service co., JPY 7M – JPY10M<br>- Desktop Engineer, global IT company, JPY 3M – JPY3.6M<br>
- Electrical Facility Engr DC service co., JPY5M – JPY6.5M<br>- Personal Assistant, investment firm, JPY3.6M – JPY5M<br>- Data Center Sales, DC service co., Tokyo, JPY5M – JPY8M <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:toshisada.onishi@biosjp.com">toshisada.onishi@biosjp.com</a>.<br><br>Interested individuals may e-mail resumes to:<br>
<a href="mailto:toshisada.onishi@biosjp.com">toshisada.onishi@biosjp.com</a><br><br>-----------------------------------------------------------<br><br>----- ACCJ Journal - Connect to CEOs of MNEs in Japan -----<br><br>Looking to reach out to key decision makers in Japan? With <br>
our English & Japanese language ACCJ Journals, we have an <br>open line to CxOs of major American & Japanese companies in<br>Japan.<br><br>For the month of July and to celebrate Independence Day, we<br>are offering companies a 60% discount on any advertising<br>
product in the ACCJ Journal if payment is settled by August<br>31st!<br><br>We are eager to support your strategic communications and<br>hope to hear from you soon. For more details, please <br>contact us in English or Japanese at 03-4550-2926 or email <br>
<a href="mailto:sales@accjjournal.com">sales@accjjournal.com</a>.<br>-----------------------------------------------------<br><br>***------------------------****-------------------------***<br><br>+++ UPCOMING EVENTS/ANNOUNCEMENTS<br>
<br>---------------- Start a Company in Japan -----------------<br><br>Entrepreneur's Handbook Seminar 29th of September, 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&A on starting up <br>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><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 feedback this week.<br><br>***------------------------****-------------------------***<br>
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-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br><br>+++ TRAVEL DESTINATIONS PICKS<br><br>=> Cape Ashizuri, Shikoku<br>The Southernmost Point of Shikoku<br>
<br>Cape Ashizuri, the southernmost point of Shikoku, is part <br>of the Ashizuri-Uwakai National Park. It can be reached on <br>foot from the town of Ashizuri via a seaside walking path, <br>or you can drive all the way into the park through a <br>
"tunnel" of camellia trees via the breathtaking "Skyline" <br>central road, which features steep climbs. The small tip of<br>land has been made into a park clustered with sightseeing <br>spots and featuring gorgeous ocean views from stunning, 80m<br>
high granite cliffs. A 2 km wooded walking path winds <br>around the coastline from point to point, including stops <br>at the cape`s "Seven Mysteries," such as a supposedly <br>bottomless well.<br><br>For the best view, head straight up to the main observation<br>
deck, Tengu-no-Hana, for a 270 degree seascape of the <br>sparkling Pacific. In this area the Japan Current makes its<br>closest approach to land, crashing and swirling violently <br>into the rocks below. The horizon curves out in an arc in <br>
the distance, and a beautiful white lighthouse, built in <br>1914 and now a symbol of the cape, beckons from a nearby <br>point. If you`re very lucky, you might even see a whale!<br><br><a href="http://bit.ly/N62G9K">http://bit.ly/N62G9K</a><br>
<br>=> Mount Aso, Kumamoto<br>Access to an Active Volcano in Kyushu<br><br>The island of Kyushu is known for its volcanic activity, <br>and Mt. Aso -— an active volcano with one of the largest <br>calderas in the world (up to 25 km in diameter!). This <br>
mountain should be near the top of your Kyushu must-see <br>list! Mt. Aso is a complex volcanic area consisting of an <br>outer ring surrounding several peaks and craters. It is <br>thought that it was created by four eruptions, the largest <br>
and most recent occurring about 90,000 years ago. Mt. Aso’s<br>five main peaks rise up from the crater that formed when <br>the ground collapsed to fill the huge underground space <br>created by the spewed magma.<br><br>Mt. Aso’s unique ropeway (858 m, 4 min. run time) gives <br>
visitors unusual access to the rim of the active volcano. <br>Unfortunately, it is often closed due to the noxious gases <br>pouring from the caldera, and I was unable to take it the <br>day I went. If you are lucky enough to go, you will smell <br>
the sulfur and see the blue pool of water spewing volcanic <br>gases up close. A short walking path with various look-outs<br>allows amazing views of the area. There are also shelter <br>dugouts in case of emergency (eruption).<br>
<br><a href="http://bit.ly/MboAov">http://bit.ly/MboAov</a><br>------------------------------------------------------------<br><br>***------------------------****-------------------------***<br><br>+++ JAPAN BUSINESS Q&A<br>
<br>=> Question<br><br>Should I charge a customer consumption tax on services I <br>have provided them if they are located outside Japan?<br><br>*** Answer<br><br>Assuming the customer is a non- resident of Japan, you <br>
should not charge the customer consumption tax on the <br>services. The only exceptions to this rule are:<br><br>(a) For transport and storage services for assets located <br>in Japan<br><br>(b) For meals and accommodation services provided in Japan<br>
<br>(c) For services available in Japan which are similar to <br>the above (a) and (b)<br><br>Services provided to non-residents are regarded as export<br>transactions, and export transactions are tax-exempt.<br><br>To continue reading<br>
<a href="http://www.nagamine-mishima.com/archives/3024?lang=en">http://www.nagamine-mishima.com/archives/3024?lang=en</a><br><br>------------------------------------------------------------<br><br>***********************************************************<br>
END<br><br>SUBSCRIBERS: 7,957 members as of July 08, 2012<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>
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