Japan Economy Forum

[LeveragedBuyout]

@Nihonjin1051 : it begins.

Halal: Japan Inc.’s Gateway to World’s Muslim Population - Japan Real Time - WSJ

• 

• July 25, 2014, 3:28 PM JST

Halal: Japan Inc.’s Gateway to World’s Muslim Population
ByMari Iwata

Cahyani Ariya Wiji, a 21-year-old Muslim foreign student from Indonesia, eats a bowl of halal Udon noodles, at a dining hall in the Kanda University of International Studies in Chiba, east of Tokyo.
Reuters
Even though the claim was later retracted, the outrage that erupted in Malaysia earlier this year after Cadbury recalled chocolate treats that allegedly contained traces of pork DNA serves as a reminder of the influential voice that consumers of halal food products have.

And the lesson of what a good business opportunity selling food prepared in accordance with Islamic law is hasn’t been lost on a number of major Japanese firms. Bigger than China, the world’s Muslim population is some 1.6 billion people and one of the fastest growing. For Ajinomoto Co., best known as the firm behind monosodium glutamate, the halal food market is one that’s rife with possibilities.

“We’ve been in Southeast Asia for 40 to 50 years. We think we can leverage our experience,” said Hiroyuki Teramoto, the manager of Ajinomoto’s umami seasoning and processed foods groups. The company opened an office in Pakistan this month, giving it greater access to the predominantly Muslim country as well as other nations in the Middle East and North Africa.

Seeing the writing on the wall with Japan’s population shrinking and its food demand peaking, Ajinomoto has been rapidly transforming itself from a domestically-focused company into a truly multinational organization. In the financial year that ended in March, its profits from Japan and overseas were split about 50-50. The company aims to lift its overseas profits so that they take a 60% piece of the pie by fiscal 2016.

For many of the multinational food companies who see opportunity in halal food, Malaysia is the starting point. The government of Malaysia has been issuing a halal certificate for some 40 years that is widely accepted in the Muslim world. So when the country’s government set up Halal Industry Development Corp. in 2008 and started offering support for international businesses with meeting halal standards, it was a huge success.

“Today, Malaysia is the leading global halal hub with an annual export value of RM35.4 billion ($11 billion) for halal products,” the government’s web site declares proudly.

Mitsubishi Corp. is a Japanese company who sees the value of Malaysia’s halal certificate. The trading company has set up a 50-50 joint venture with Colcafé, a subsidiary of Grupo Nutresa SA, Colombia’s largest food company, in Kuala Lumpur and will start to make and sell instant coffee mixed with sugar and milk powder in August. “If you think about future business in the Middle East, getting halal certification from Malaysia is very important,” said Hiroki Shiozawa, General Manager of Mitsubishi Corp.’s Beverage and Dairy Products Department.

 

[EastSea]

@EastSea
Pakistan is near and dear to Japan. We have hundreds of businesses in the country, and are optimistic. Our relationship with each other has not been affected despite the political differences Japan has with certain East Asian nation(s). Let me be clear with you. Japan and Pakistan are friends, economic partners, and will continue to be so, and more.

.

 

[Aepsilons]

I think its a good idea.

I personally hold the belief that meat prepared Kosher or Halal is high quality. The way they remove the blood of the animal is really good, too.

 

[Rechoice]

monitoring and transparency should be do by both side, ODA donor ans receiver countries. I did my business, some time was related to ODA projects of Japan in Vietnam, I known it.

 

[Aepsilons]

monitoring and transparency should be do by both side, ODA donor ans receiver countries. I did my business, some time was related to ODA projects of Japan in Vietnam, I known it.

Yes. Corruption knows no color, creed, nationality.

 

[Rechoice]

Yes. Corruption knows no color, creed, nationality.

Thks you for understand, when you read a Loan agreement and Guideline of JBIC for the ODA project, biding regulation and approval procedure, is signed by two side, you can understand more.

any case, thank for Japanese people for your help.

 

[Aepsilons]

Nikkei Soars as Investors Look Past Japan's Domestic Struggles

TOKYO—The Nikkei Stock Average hit another six-month high Monday, backed by solid earnings from leading industrial companies.

Many international investors are shedding their caution toward Japanese stocks despite the growing divergence between the market's performance and the domestic economy, which is struggling to recover from an increase in the national sales tax to 8% from 5% on April 1.

One reason for the divergence: Many companies in Japan have built businesses that can thrive even when their home country doesn't.

Results from Nissan Motor Co. 7201.TO +1.85% Monday were a case in point. The auto maker reported that net profit grew 37% in the April-June quarter over the year-earlier level, helped by strength in Asia and North America that outweighed a decline in Japanese sales.

Shares of Fanuc Corp. 6954.TO -1.14% , a maker of industrial robots, jumped 5.3% on Friday and an additional 0.4% Monday after the company said its net profit nearly doubled in the April-June quarter.

Fanuc, which expects profit to rise 32% in the current fiscal year to ¥146.5 billion ($1.44 billion), said demand in Europe and Asia was increasing. "Strong orders suggested potential upward revisions down the road," said Naoki Fujiwara, fund manager at Shinkin Asset Management, which manages ¥638 billion.

The Nikkei Stock Average rose 0.5% to a six-month high of 15529.40 on Monday, adding to its 1.6% gain last week. The average now stands at its highest level since January. Shares of Isuzu Motors Ltd. 7202.TO +0.64% rose 2.8% on Monday after the Nikkei business daily said its profit would beat analysts' forecasts.

"The overall market is reflecting an optimistic view of the economy and expectations for earnings down the road," said Koji Uchida, chief fund manager at Mitsubishi UFJ Asset Management Co., which manages ¥8.4 trillion ($83 billion).

Worries prevailed in the Japanese market earlier this year as investors questioned how seriously Prime Minister Shinzo Abe would proceed with economic changes to enable companies to grow aggressively. Investors were also cautious about the Japan's economic outlook after the April 1 tax rise.

Mr. Abe helped restore confidence by refreshing his growth strategy in June, pledging measures to improve corporate governance and performance. According to the Bank of America Merrill Lynch's July survey of fund managers, Japan overtook Europe as the No. 1 market that global investors plan to "overweight."

Although many companies say the negative effects of the higher tax have been smaller than feared, they are still significant. Wages adjusted for price changes have continued to decrease, and Japan's inflation rate slowed in June for the second straight month. Exports, long a main engine for the economy, continue to struggle.

"There are some worrisome signs," said Yusuke Sakai, senior stock trader at T&D Asset Management, which manages ¥2.3 trillion in assets.

Some investors said the Tokyo stock-market gains can only go so far in the absence of a healthy domestic market in which real wages are growing and new businesses are opening. They said the rise in stock prices shouldn't obscure the need for additional steps by Mr. Abe's government to encourage domestic demand.

"Mr. Abe is very sensitive to stock prices. That's not a bad thing, but if he only pays attention to that, he could be blindsided," Mr. Sakai said. "Now is the moment of truth."

The prime minister's support has fallen below 50% for the first time since he took office in December 2012, according to several recent polls. While the fall was largely caused by Mr. Abe's unpopular decision to expand the Japanese military's overseas role, public perception that the economy isn't recovering quickly may also be partly to blame.


http://online.wsj.com/articles/nikk...ook-past-japans-domestic-struggles-1406552337

 

[LeveragedBuyout]

Abenomics Virtuous Cycle Spinning More Slowly - Japan Real Time - WSJ

• 

• July 29, 2014, 6:12 PM JST

Abenomics Virtuous Cycle Spinning More Slowly
ByJacob M. Schlesinger

Japanese Prime Minister Shinzo Abe.
The “virtuous cycle” for Japan’s economic recovery seems to be spinning a little slower these days.

That doesn’t necessarily mean the grand Abenomics experiment is faltering. But a string of recent data — from soft consumer spending, tepid wage growth, and a newly muddled jobs picture — offer a sobering reminder of the challenges that remain before Prime Minister Shinzo Abe can safely declare he’s launched a fully functioning, self-sustaining growth spurt.

“The pace of recovery remains weak,” Izumi Devalier, an economist with HSBC Global Research, wrote in a note to clients Tuesday on soft consumer spending data. “We see increased risks that private consumption will remain depressed” for the next few months, she added.

To review: here’s the narrative of how Abenomics was supposed to proceed through the summer, and how reality is stacking up against the script.

Everybody was braced for a bad spring, following the April 1 rise in the consumption tax. So the negative numbers for April and May were dismissed as the natural pullback, following the pre-tax-hike surge in spending and investment. Some weakness in June, and even July, was seen as inevitable, and consistent with the growth story.

The good news scenario laid out for the year had two key elements. First: the economy’s underlying momentum from last year’s massive dose of Abenomics stimulus was strong enough to withstand the tax blow, which wouldn’t be nearly as damaging as the last hike in 1997. (That one snuffed out a nascent recovery and was followed by a long recession).

The second: that a virtuous self-reinforcing cycle between corporate-consumer behavior was taking hold, giving the economy further oomph. That is, rising sales would feed more production and hiring, and the resulting tight labor markets would lead to higher wages, sparking still more spending.

It’s far too soon to say that scenario was wrong. It’s not too soon to raise questions, as a growing number of economists are doing, especially after a spate of data Tuesday.

There’s no clear sign yet of a sustained rebound in consumer spending. While May retail sales rose modestly over April, June sales were flat over May. “It appears the correction to real household consumption… has been much deeper than the 1997 episode,” Credit Suisse said in a Tuesday report.

More worrisome are potential reasons behind the ongoing slump. Goldman Sachs economists noted fresh signs of stagnation in household income. They said June disposable income fell 8% versus the previous year. “With head-of-household temporary income and bonuses falling 7.4%, summer bonuses are likely to have stagnated, contrary to expectations,” they wrote adding that “the difficult income environment, mainly wages and salaries, is reflecting in consumer behavior.”

As a critical cog in the Abenomics machine, wages are supposed to be rising, sparked by an ever-tightening labor market. But the June employment report showed instead that it was unemployment unexpectedly rising — for the first time in 10 months — to 3.7% from 3.5%. Some of that was the result of good news: more workers, especially women, entering the labor market.

But the Goldman report also highlighted a decline in permanent employees and a rise in non-permanent employees, suggesting new job creation is for less-stable, lower-paying slots.

“Demand for labor appears to have peaked out,” Credit Suisse said. “We expect job offers to continue to weaken into the year-end.”

The signs aren’t all bad. Companies are expected to report robust profits over the next couple of weeks, suggesting more potential for hiring and higher wages. In anticipation of such results, the Nikkei Stock Average has rallied in recent days, trading at a six-month high. The Finance Ministry released a report Tuesday showing that Japanese firms remain largely unfazed by recent languid data, with more than 70% in the quarterly survey saying they expect sales to return to pre-April levels by the end of July.

But some policy makers are starting to express concern. “In order for household spending to stay firm, it’s important for a heightening expectation that incomes will rise ahead,” Koji Ishida, a member of the Bank of Japan’s policy board, said in a speech Tuesday.

“A major focus is on whether consumption will return to an upward trend in the July-September period.”

 

[Aepsilons]

Japan labour demand strengthens, good omen for economic recovery

(Reuters) - Job availability in Japan hit its highest in 22 years in June as companies grew more confident about hiring, and household spending rebounded modestly - reinforcing expectations economic recovery will resume in the third quarter without the need for additional stimulus from the central bank.

The jobs-to-applicants ratio rose to 1.10 in June from 1.09 in the previous month, data from the labour ministry showed on Tuesday, matching a high last seen in June 1992, shortly after the asset-inflation bubble burst, leading to years of stagnation.

The jobless rate unexpectedly rose to 3.7 percent in June from 3.5 percent in May, reflecting an increase in job-seekers responding to economic recovery. Labour shortages in construction and retail suggest the jobless rate is not likely to rise sharply.

A Bank of Japan policymaker said the impact of April's sales tax hike was likely to be receding gradually, although he warned of the uncertainty of exports as they lacked momentum due in part to the shift of factories abroad by Japanese companies.

"In order for household spending to stay firm, what's most important is that there is a heightening expectation that incomes will rise ahead," BOJ board member Koji Ishida said in a speech to business leaders in Shimonoseki, western Japan.

"If job markets continue to tighten, that will support household spending as people feel more job security and heighten hopes that wages will rise," Ishida added.

Household spending and retail sales data showed signs that consumption is gradually recovering after the sales tax hike, supporting the BOJ's argument that domestic demand is strong enough to sustain growth and achieve its 2 percent inflation goal."

On the whole, we can say that consumer spending continues to recover," said Hidenobu Tokuda, senior economist at Mizuho Research Institute.

"Demand for workers should remain strong as there are labour shortages. Things are moving within expectations. There's no need for a policy response from the BOJ."

Household spending rose 1.5 percent in June from May in seasonally adjusted terms, falling short of economists' median estimate of a 2.2 percent increase, but still reversing the contractions seen in April and May.

May household spending fell 3.1 percent from April when spending tumbled 13.3 percent as the sales tax hike went into effect.

On an annual basis, Japanese household spending fell 3.0 percent in June from a year ago, less than the median market forecast for a 3.8 percent annual decline, and well below the 8.0 percent decline in the year to June.

Retail sales fell 0.6 percent in June from a year ago, slightly more than the median estimate for a 0.5 percent annual decline and faster than a 0.4 percent decline in the year to May. The pace of decline was slower compared with 1997 when the sales tax was last raised, the trade ministry said.

Officials attributed the retail decline in June to bad weather and lingering effects of the tax hike in some sectors, including household appliances.

On a seasonally-adjusted basis, retail sales rose 0.4 percent in June from May, up for a second straight month, a sign that the sting of the tax hike is easing.

The government raised the national sales tax to 8 percent from 5 percent on April 1 to meet rising welfare costs.

A Reuters poll of analysts taken in July found they expected the economy to show a quarterly contraction of 1.4 percent in the second quarter after the sales tax hike. The economy is expected to grow 0.6 percent in the current quarter, however, as consumer spending recovers from the tax increase and government stimulus spending supports domestic demand.


Japan labour demand strengthens, good omen for economic recovery| Reuters

 

[visom]

Battery scientists boost lithium-ion capacity 7X by adding cobalt

Above: We need more power, captain!

Image Credit: Andy Armstrong/Flickr
July 28, 2014 11:00 PM
Antony Ingram, Green Car Reports
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All electric vehicles currently in production use some form of lithium-ion chemistry in their battery packs.

Finding ways of improving that chemistry is therefore very important — the aim being to make future electric car batteries cheaper, more stable and more energy-dense for longer range.

Researchers from the School of Engineering at the University of Tokyo have found a way to develop a lithium-based battery with seven times the energy density of current lithium-ion batteries, according to Nikkei Technology.

This has, at least theoretically, each of the major benefits you’d expect should it be introduced in production form–lower cost, greater capacity and increased safety.

Led by Professor Noritaka Mizuno, the team have used a new material on the positive electrode in the battery, formed by adding cobalt to the lithium oxide crystal structure. This aids an oxidation-reduction reaction during which peroxides are produced, and electrical energy is generated. (Read the research paper.)

The researchers claim energy density of 2,570 watt-hours per kilogram. That’s actually a little less than the theoretical density of lithium-air technology (3,460 Wh/kg, and a current leader in lithium battery developments) but as a sealed design it’s more stable (and therefore safer) than lithium-air.

MORE: How Hard Is Lithium-Air Battery Research? Pretty Tough, Actually

The team also proved that there are no unwanted byproducts in the battery’s acceptable charging and discharging cycle–no excess oxygen or carbon dioxide is produced during the reactions.

Tests at the university have also shown it’s possible to repeatedly charge and discharge the battery at a large current, boding well for faster charging.

In theory, at least. As with all current battery research projects, there is still some way to go before the technology can be applied in a practical format–one that could be used in electric vehicles.

While the team mentions no apparent drawbacks, such a concept would require more thorough testing before it’s applied inn the real world. As ever though, it’s evidence that battery technology is still progressing behind the scenes–and that one day, electric cars should be able to travel much further on a charge.

RELATED: Panasonic may be investing in Tesla’s U.S. battery ‘Gigafactory’

[Hat tip: Hugh Crawford]



This story originally appeared on Green Car Reports.

 

[Aepsilons]

Honda Posts Higher Earnings On Excellent Japan Sales, Cost Cuts


HONDA (NYSE:HMC) announced its earnings for the first quarter of fiscal 2015 on June 29. The company reported a 20% gain in earnings on the back of high automotive sales in China and Japan. Total revenues for the quarter jumped 5.4% to 2,988.2 billion yen ($29.482 billion) while operating income increased by 7.1% to 198 billion yen ($1.954 billion). The increase in operating income was driven by an increase in sales volume, a higher price model sales mix, continuing cost reduction efforts, as well as favorable foreign currency effects, despite increased SG&A and R&D expenses, slightly offset by higher S,G&A expenses. [1]
The Japan based automaker sold roughly 1.061 million cars this quarter, up ~6% from just under 1 million a year ago. The company attributed this increase in sales volume to to the positive impact of new model introductions as well as the launch of fully remodeled vehicles in Japan and Asia. [2] Honda left the forecasts for 4.83 million vehicle sales for the fiscal year 2015 unchanged despite the higher sales this quarter. It sold 4.3 million vehicles for the fiscal year ended March 2014. [3]

We have a $43 price estimate for Honda Motors, which is about 10% above the current market price. We are in the process of revising our estimates in order to incorporate the latest earnings.

Japanese Sales RiseWhile North America Declines

During the previous quarter, Honda’s sales jumped 41% in Japan, helped by the following two factors: 1) A number of people bought cars as they sought to beat an increase in the sales tax to 8% from 5%, which came into effect on April 1. and 2) The introduction of new models and the launch of fully remodeled vehicles, the Fit and Vezel subcompacts, in the region. In this quarter, however, the negative impact of the hike in sales tax was expected to come into effect as a sales tax hike should make people hesitant in purchasing new cars. Moreover, real wages in Japan have been falling over the previous quarter and the negative impact of this trend might also have been felt on Honda’s sales. ((Shinzo Abe faces rising disenchantment in Japan, Financial Times, July 2014)) However, the positive impact of the introduction of full remodeled versions of the Fit and Odyssey raised unit sales in China by as much as 44%. The introduction of new models, like the N-WGN minicar and the Vezel subcompact, also contributed to the tremendous gain.

North America is Honda’s biggest market and accounts for more than 40% of the unit sales. During the quarter, sales in the U.S. for the Japanese automaker stayed flat declined for the Accord sedan, its best-selling vehicle its popular Odyssey minivan was almost flat. One factor which had a significant impact on Honda’s sales in the continent was the halt in manufacturing at the company’s Mexico plant. The plant which manufactures the Fit subcompact had troubles maintaining production pace as it adopted new manufacturing techniques. Despite this, the company kept its full-year U.S. sales targets unchanged and said volumes would get back on track. [4] The company is counting on the Fit to grab market share from the Chevrolet Sonic hatchback and Ford Fiesta.

The company also cited the delay in the launch of the Acura’s new TLX sedan as another factor behind its sluggish performance in the United States for Q1. Honda’s average U.S. incentive per vehicle in the quarter was $1,941, up 11 % from last year’s first quarter and slightly higher than Toyota’s, but below Nissan’s. The company posted a 6% drop in operating profits for North America operations for the quarter. [4]

Chinese Sales Rebound

Since a difficult 12-15 month period starting September 2012, Honda has been optimistic about China. Sales of Japanese automakers had tanked due to a wave of anti-Japan sentiment present across the general public, because of political tensions between the two countries. As the sentiment gradually improved and Honda introduced two China-specific models, namely the Jade and the Crider, the automaker’s sales accelerated in the second half of the year. In China, Honda’s sales grew 11.7 percent year-on-year in the first six months of 2014, but the auto maker’s inventories have built up somewhat. [4] As a result, it has reduced manufacturing at its Wuhan plant by reducing the number of shifts from two per day to just one. [4]

Honda plans to introduce nine more models within the next two years as it aims to gain back market share from its American and German rivals. In 2013, Honda even set up an R&D center in the world’s most populous nation to develop China-specific models. Honda expects to sell 900,000 vehicles in 2014 and double annual sales in China to 1.3 million units in the three years through 2015. [5] Overall, the Chinese automotive market continues to grow at an impressive rate. After crossing 22 million units in 2013, the Chinese automotive market is expected to rise more than 10% in 2014.



Honda Posts Higher Earnings On Excellent Japan Sales, Cost Cuts -- Trefis

 

[LeveragedBuyout]

Sorry, @Nihonjin1051 , but this is not looking good. I seem to remember reading that even New Zealand was contemplating a proposal to drop Japan from TPP over the agriculture issue.

Rare Beltway Bipartisanship: Bashing Japan Trade Policy - Japan Real Time - WSJ

• 

• July 31, 2014, 2:34 PM JST

Rare Beltway Bipartisanship: Bashing Japan Trade Policy
ByJacob M. Schlesinger and Mitsuru Obe

Japan’s Prime Minister Shinzo Abe
Reuters
It’s hard to get Republicans and Democrats to team up on anything these days in Washington. Japanese Prime Minister Shinzo Abe seems to have accomplished what President Barack Obama rarely can: sparking broad bipartisan agreement – in attacking Japan’s trade policy.

A letter sent to Mr. Obama Wednesday, signed by 140 members of Congress from both sides of the aisle, argues that Japan’s protectionist tendencies toward its farmers is holding up an Asia-Pacific trade agreement, the Trans-Pacific Partnership. Mr. Abe has made joining the U.S.-led TPP a key plank of his efforts to reform Japan’s economy – but a full-fledged overhaul of the farm sector is for now off the table.

“We write to express our deep concern over Japan’s current market access offer within the ongoing Trans-Pacific Partnership (TPP) negotiations,” opens a letter sent to Mr. Obama Wednesday.The signers included the top Republican and Democrat on the trade subcommittee of the House Ways and Means Committee, California Republican Devin Nunes and New York Democrat Charles Rangel.

It was Mr. Abe’s early-2013 declaration that Japan would join the ambitious regional free-trade agreement that helped boost his standing, at home and abroad, as a bold reformer at the outset of his term. He cast Japanese membership in the deregulatory pact as a centerpiece of his program of reforms designed to shake up the country’s moribund economy.

Now he’s facing growing questions about the impact and implementation of his Abenomics revival package. The broadside from Congress echoes skepticism from economists, politicians, and investors more broadly.

“When Japan joined these negotiations, it agreed that the elimination of tariffs is a key feature of the agreement,” the lawmaker letter says. “Unfortunately, Japan’s current position falls far short of acceptability.” Specifically, they complained about Japan’s offer – made by Mr. Abe to Mr. Obama in Tokyo in April – to lower, but not scrap tariffs in agricultural products like beef and pork.

The letter also raises concerns about Canada as well. And it concludes by urging Mr. Obama to consider excluding Japan and Canada from the pact if they don’t ramp up their concessions.

“The criticisms are not coming from Republicans who are either anti-Japan or anti-trade,” Japan-watcher Richard Katz wrote in his newsletter, The Oriental Economist. “Rather, they are coming from TPP supporters who say that they are concerned that Obama might agree to a deal that could not pass the Congress. They want to make it clear to Tokyo what it has to do in order to win Congressional ratification. “

A spokesman for the Japanese government said that Japan doesn’t comment on action taken by the U.S. Congress, saying it’s entirely a domestic matter. Japan is negotiating with the U.S. government, not with the Congress, the spokesman stressed.

In general, Japanese officials have been frustrated with such American complaints in recent months. They say the Obama administration hasn’t worked hard enough to unite the country behind an early conclusion of the talks, and that Japan has already done its part for market opening. Some Japanese officials say they are reluctant to make concessions if Congress could torpedo a deal at a later date.

Whether the talks will be wrapped up this year “depends on the Obama administration’s ability to work with the Congress,” Economy Minister Akira Amari, Japan’s top TPP negotiator, said last week. “We want the president to redouble his efforts.”

 

[Aepsilons]

I agree that our protectionist policies concerning agrarian goods needs a re-shape.

 

[ComradeNam]

Japan’s Foreign Minister Kishida Fumio will pay an official visit to Vietnam from July 31 to August 2 and co-chair the sixth meeting of the Vietnam-Japan Cooperation Committee to further promote extensive strategic partnership between the two nations.

The visit was made at the invitation of Vietnam’s Deputy Prime Minister and Foreign Minister Pham Binh Minh.

Vietnam-Japan relations have grown steadily since the fifth meeting of the Vietnam-Japan Cooperation Committee in 2013. Both nations elevated their ties to a new level of extensive strategic partnership for peace and prosperity in Asia during State President Truong Tan Sang’s visit to Japan in March 2014.

Japanese Foreign Minister Kishida Fumio
(Photo:VNA)
Japan is now Vietnam’s leading important partner and the first G7 which recognised Vietnam’s market economy status in October 2011. At present, Japan is Vietnam's largest ODA provider, leading investor and the fourth trade partner.

Two-way trade turnover reached more than US$24 billion in 2013 and nearly US$10.7 billion in the first five months of the year, of which Vietnam’s exports to Japan hit nearly US$6 billion, up 12.6% against the same period last year.

Last year Japan took the lead among 54 nations and territories investing in Vietnam with total newly registered and increased capital of roughly US$5.8 billion. Until May 25 this year, Japan pumped nearly US$35.6 billion into 2,288 projects on science, technology, labour, tourism, culture, information, education and training.

 

[Aepsilons]

Good News !