The Guardian (July 29)
“It is a race to take charge of the world’s largest city—a metropolis with a population more than half the size of the United Kingdom and with a GDP greater than all but 10 countries.” But the Tokyo Governor’s race is probing new lows with “mud slinging and misogyny,” as well as “events that some say highlights the worst of Japan’s male-dominated politics.”
Tags: GDP, Governor, Japan, Male dominated, Metropolis, Mud slinging, Politics, Population, Tokyo, UK
Bloomberg (May 10)
Tsuyoshi Maruki, the founder of Tokyo-based Strategic Capital Inc., “stands out like a lone wolf in Japan, where societal intolerance for aggressive shareholder campaigns has spurred a breed of friendly activists.” When persuasion fails, Maruki “turns to techniques that include banding with other investors to oust management and filing lawsuits to overhaul corporate practices in order to boost returns for his 9.7 billion yen ($90 million) fund.” Committed to improving corporate governance in Japan, Maruki is convinced his aggressive stance works.
Tags: Aggressive, Friendly activists, Governance, Investors, Japan, Lawsuits, Management, Maruki, Persuasion, Shareholder, Strategic Capital, Tokyo
Bloomberg (April 11)
“For global equity investors and Shinzo Abe, it’s splitsville.” For 13 straight weeks during 2016, “foreign traders have been pulling out of Tokyo’s stock market.” They’ve dumped “$46 billion of shares as economic reports deteriorated, stimulus from the Bank of Japan backfired and the yen’s surge pressured exporters. The benchmark Topix index is down 18 percent in 2016, the world’s steepest declines behind Italy.”
Tags: Abe, BOJ, Equity investors, Exporters, Italy, Shares, Stock market, Tokyo, Topix, Traders, Yen
Popular Mechanics (February 1)
“As both the capital of Japan and home to a quarter of its citizens, Tokyo is very much a big, fat target” for North Korea. Mainly done to reassure people living in Tokyo, “the deployment of the eight PAC-3 missiles does give real protection in case Pyongyang has something unexpected in mind.” While any launch would probably just be a missile test, “North Korea’s erratic nature means Japan can never quite rule anything out.”
Tags: Capital, Deployment, Erratic, Japan, Missiles, North Korea, PAC-3, Protection, Pyongyang, Target, Tokyo
Barron’s (January 12)
“President Xi Jinping’s men thought they’d escaped 2015’s woes, only to see the floor fall out from under them in the first 10 days of this year. The root causes of instability that’s panicking global markets can be traced back to Jan. 1, 2015, when Xi opted for a muddle-through policy akin to Tokyo’s in the late 1990s.” Xi and crew can still conceivably avoid Japan’s fate by “acting assertively to restructure the economy and repair the bad-debt-heavy national balance sheet. Increasingly, though, Xi’s government is acting like Tokyo’s, circa 1998.”
Tags: Bad debt, Economy, Global markets, Instability, Japan, Panic, Restructure, Tokyo, Xi Jinping
Bloomberg (December 15)
“A surge in Tokyo’s elderly population over the next 10 years may overwhelm urban healthcare systems; while depopulation and stagnant economies in rural Japan are set to leave nursing homes and hospitals half-empty.” Prime Minister Shinzo Abe is pushing “an audacious idea” of motivating urban elderly to relocate to Japan’s countryside.
Tags: Abe, Audacious, Countryside., Depopulation, Elderly, Healthcare, Hospitals, Japan, Nursing homes, Rural, Surge, Tokyo, Urban
Wall Street Journal (November 5)
“The drumming you hear in Washington, Frankfurt and Tokyo is the accompaniment to the Central Bank Limbo, as the world’s monetary maestros line up to see how low they can go. The Bank of England (BOE) joined the queue Thursday with its announcement that a rate increase will again be delayed.” BOE Governor Mark Carney warned a year and a half earlier “that a rate rise could come ‘sooner than markets currently expect.’” Nevertheless, “Britain’s monetary-policy committee reverted to dovishness at its meeting this week.”
Tags: BOE, Carney, Central bank, Dovish, Frankfurt, Limbo, Markets, MPC, Rate increase, Tokyo, Washington
Reuters (July 26)
“Tokyo office rents have climbed to their highest since April 2011 as the economy gathers steam and demand for office space increases. But property analysts say the growth in rents is small and will be capped by imminent launches of new office towers.”
Bloomberg (June 9)
“Every day, Tokyo’s subway and trains carry out one of the world’s largest logistical operations, getting a metropolis of 38 million people to work, many commuting for hours. The closer they get to the center, the more congested the carriages become.” While the “system may appear to be straining at the seams, it’s preparing for an even bigger challenge, as the city transforms to welcome its first Olympic Games since 1964.”
Financial Times (May 26)
Global cities now “drive the world’s economy. The 600 biggest cities account for more than 60 per cent of global gross domestic product. The top 20 are home to one-third of all large corporations, and almost half of their combined revenues. Tokyo leads the pack — in population size, economic punch and number of corporate headquarters — ahead of New York, London and Paris.”
Tags: Cities, Corporations, Economics, Economy, GDP, London, New York, Paris, Population, Revenues, Tokyo
