“Wall Street Journal (November 17)
“Japan is in recession for the fifth time in seven years, and the second time since Shinzo Abe returned to office three years ago. The energetic Prime Minister who promised to end his country’s stagnation is failing at the task. It’s time for a rethink.”
Financial Times (September 27)
“It is disappointing that Mr Abe chose last week not to redouble his efforts,” especially on the third arrow of structural reform, “but instead promulgate three newer arrows: ‘strong economy’, ‘support for families’ and ‘social security’. Anything that confuses his original, and clearer message risks undermining its goals.” Moreover, his original program has been working. “Japan is no longer the deflationary outlier — virtually every developed country has seen negative inflation following the recent oil price falls. When this effect is stripped out, Japan’s CPI has been growing at between 0.5 and 1 per cent, well above its previous rate.”
Tags: Abe, CPI, Deflationary, Economy, Families, Japan, Negative inflation, New arrows, Oil, Social security, Structural reform, Undermine
Bloomberg (September 10)
“Golf is a microcosm for the problems that Prime Minister Shinzo Abe is facing in reviving Japan’s economy — low prices, unwilling consumers, a lack of female participation and an aging populace. The sport generated 1.37 trillion yen ($11.5 billion) in sales for Japan’s courses, driving ranges and equipment retailers in 2013, less than half the revenue of the peak years.”
Tags: Abe, Aging populace, Consumers, Economy, Female participation, Golf, Japan, Microcosm, Prices, Revenue
Wall Street Journal (August 16)
“Some Japanese complain, with justification, that no apology would satisfy critics in China and South Korea who have their own nationalist axes to grind. But reasonable foreigners—including Americans—find it hard to credit Japan’s apologies as sincere when school textbooks whitewash atrocities…. We and other friends of Japan share Mr. Abe’s desire to see it become a normal nation not shackled by its past, not least so it can be trusted to stand with other democracies against potential Chinese aggression. Mr. Abe would bring that goal closer if he took his own advice and faced history squarely.”
Tags: Abe, Apologies, Apology, Atrocities, China, Japan, Nationalists, Sincere, South Korea, Textbooks, U.S., Whitewash
The Economist (August 15)
“This is the year that the economic plan of Shinzo Abe, the prime minister, should be taking wing…. Yet the economy’s performance has been underwhelming. The problems have been weak industrial production, thanks to a slowdown in exports to America and China, and anaemic household consumption.”
Tags: Abe, China, Consumption, Economy, Exports, Industrial production, Problems, Slowdown, U.S., Underwhelming
Bloomberg (August 13)
“China’s devaluation becomes Japan’s problem.” The surprise action raises the question of “what China’s move means more broadly for Abenomics. A sharply devalued yen, after all, is the core of Prime Minister Shinzo Abe’s gambit to end Japan’s 25-year funk.” But China’s move is not necessarily the death knell of Abenomics, which has been sputtering. “China’s move may catalyze Abe to act. By undercutting Japan’s devaluation, China might increase Abe’s urgency to boost competiveness, innovation and wages.”
Tags: Abe, Abenomics, China, Competiveness, Devaluation, Innovation, Japan, Sputtering, Wages, Yen
Bloomberg (July 30)
Positive governance may finally be transforming corporate Japan. “Waves of activist investors—both Japanese and non-Japanese—tried to unlock the country’s riches. They failed. But now they’re spurred on by Prime Minister Shinzo Abe, who’s taking aim at the cozy way Japan does business as part of his make-or-break Abenomics plan to reinvigorate the stagnant economy. Attitudes are changing at last.”
Tags: Abe, Abenomics, Activist investors, Business, Economy, Governance, Japan
Wall Street Journal (June 24)
“Shinzo Abe introduced the latest installment of his ‘third arrow’ economic reform on Monday, and again the Japanese Prime Minister offered some good ideas. But there’s reason to doubt that it goes far enough to revive Japan’s economy, especially because it returns to some of the worst elements of the country’s post-World War II industrial policy.”
Tags: Abe, Economy, Industrial policy, Japan, Third arrow
Wall Street Journal (June 3)
“Prime Minister Shinzo Abe’s push to restart productivity growth and unlock value in Japanese companies is toppling the shibboleths of Japan Inc.” His corporate governance reforms seem to mark “a turning point. Japan’s corporate chieftains must realize that as Japan’s population ages, it will draw down savings. That means companies need to attract foreign capital and go abroad to seek new markets. Both require global best practices of corporate governance.”
Tags: Abe, Foreign capital, Global best practices, Governance, Growth, Japan, Markets, Population, Productivity
Bloomberg (May 31)
“Recent scandals at Takata (deadly airbags) and Toshiba (dodgy accounting), and Sharp’s ongoing angling for a government rescue when it should be shedding unprofitable businesses, are a reminder of how far Japan still needs to go.” Despite recent governance reforms, “Japan remains 30 years behind its peers in how its companies are run. Corporate Japan still indulges in cross-shareholdings and permits itself male-dominated boards, and the country’s timid media does little to hold it to account.” Still, progress is being made. “Some companies are starting to display the behavior Abe wants, and for which” overseas fund managers have “been agitating.”
Tags: Abe, Accounting, Airbags, ata, Boards, Cross-shareholdings, Fund managers, Governance, Japan, Media, Reforms, Sharp, Toshiba, Unprofitable
