Reuters (April 6)Reuters (April 6)
Amid a dearth of disclosure, overseas and domestic investors are finding it difficult to assess investments in Japan. In response to the quake, the TSE is allowing firms an extra three months to announce earnings. “Underscoring the uncertainty, some 460 firms listed on the Tokyo Stock Exchange have yet to tell the bourse when they plan to announce earnings for the year ended on March 31, more than 5 times the average.” Moreover, fewer firms are expected to provide “a forecast for the year ahead, depriving investors of a key guide on which they would normally rely to make trading decisions.”
A “cup of sake could save the nation.” The Financial Times disagrees with Tokyo Governor Shintaro Ishihara’s efforts to discourage traditional hanami cherry blossom viewing parties out of respect for those still suffering from disaster. The Governor’s entreaties could make a bad situation worse, as restraint worsens a reeling economy. “Mr Ishihara risks deepening the post-disaster slump by simultaneously seeking to stop Tokyo residents from celebrating the arrival of cherry blossoms with their traditional hanami flower-viewing parties.”
Tags: Earnings, Forecast, Japan Investors, Quake, TSE
