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Nikkei pledges to respect Financial Times culture

16 Comments
By KEN MORITSUGU

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16 Comments
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Nikkei pledges to respect FT culture? Who are they kidding?

“we cannot respond to readers’ demands with only coverage of Japan.”

Such a stupid statement contradicts their pledge to respect FT culture and tells us what we already know, that the FT will be manipulated in future to serve J-business interests.

I am very thankful that Pearson had the sense to hold on to The Economist.

9 ( +9 / -0 )

I don't predict anything good coming out of this.

6 ( +6 / -0 )

Money talks. It's a bit like Casio buying Apple isn't it.

0 ( +1 / -1 )

"I'll still respect you in the morning." That's the oldest line in the book.

1 ( +2 / -1 )

"In other news, the Financial Times stated that Abenomics is a success!".

2 ( +3 / -1 )

“The editorial cultures of each will be respected. If there are any problems, we will talk them out.”

Right, of course. We all know how that "talk" will go.

FT, nice knowing you. No doubt Murdoch or some other media mogul looks forward to being able to buy you in 5-10 years at a deep discount to what Nikkei paid because they will have screwed the FT up completely.

0 ( +0 / -0 )

As an Englishman I resent British institutions falling into foreign ownership. I am not hopeful that the new owners will "respect" the traditions of the F.T., but it would be nice to think they will - until the temptation not to proves too much for them. Let's see if they can score better in this respect than Rupert Murdoch!

0 ( +0 / -0 )

Just cancelled my FT subscription, it will never be the same again.

0 ( +1 / -1 )

Well, FT is now going to be a pro-Keidanren publication which will not dare to talk negatively about Japan inc. Nikkei is highly sponsored by these companies and it refuses to publish anything that goes against them, like Nomura, Toshiba, Olympus. Sucks for FT readers for sure and expect the Toshiba scandal affair to 'disappear' from their headlines.

1 ( +1 / -0 )

I'm just hoping that the FT doesn't start exporting BOJ/Abenomics/Kuroda nonsense to their discussions of the rest of the world. It is bad enough that the Japanese media is all-on on inflation, currency devaluation, and other middle-class-destroying policies that are making the average Japanese person miserable; I'd hate to see this line of thinking applied to other economies too.

0 ( +0 / -0 )

Nikkei’s chairman Tsuneo Kita said he wasn’t that familiar with the FT because his English isn’t fluent.

“I don’t have the skill to read it but I do gaze upon it,” he said.

Two questions. How does a company who's chairman isn't "that familiar with the FT" decide to pay $1.3 billion for it? Sounds like desparation to do a deal to me. Second, if he only "gazes upon it", how does he have any clue as to what the culture there is -- that he says he'll "respect"? LOL.

-2 ( +2 / -4 )

@jerseyboy:

A couple of good questions.

With regards to the Chairman, while in the case of Nikkei, he is still a Representative Director, the real responsibility for day-to-day management rests with the President & CEO. That is Okada. No doubt Kita would have had to sign off on it as a Director and Okada would have briefed him, but the evaluation of the deal and the work done by the bankers putting the deal together would have been reviewed by Okada and his team. I am not saying Kita is purely a figurehead, but the person more relevant here is Okada.

My experience in these things is that the Chairman will be a participant in the press conference because he was previously President & CEO and will inevitably be asked his view. Generally his goal is to be supportive by providing some innocuous comments. Nothing more, nothing less.

0 ( +0 / -0 )

"Financial Times culture"

Sounds ugly and dangerous.

As a student, this was the most despised newspaper in the UK. Who cares whether it publishes the views of UK or Japanese corporate interests? If they'd bought out the Morning Star, that might have been interesting.

0 ( +0 / -0 )

It's called Capitalism. If you don't like it then move to North Korea.

-1 ( +1 / -2 )

Pearson is running for cover and closing the hatch on his publishing interests, the Economist research unit is valuable but unfortunately for Nikkei, Pearson 'big window' saw Nikkei coming, hint FT pension deficit?! Ouch !! ...,,,,,, Naotoshi Okada where is your head?

0 ( +0 / -0 )

Hopefully, they won't censure their readers' letters ........

0 ( +0 / -0 )

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