business

Recent rise in yen extremely worrying, says Aso

47 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2016 AFP

©2019 GPlusMedia Inc.

47 Comments
Login to comment

What is Japan going to do, lower interest rates! Bah-hah-hah.

12 ( +15 / -3 )

Yet it doesn't worry those whose pay has not increased. In fact they will find it a relief if prices drop as a result.

11 ( +12 / -1 )

Translation , When it is not to our benefit will manipulate currency..

4 ( +6 / -2 )

Aso if your so worried please resign as a lot of this is your doing, let some1 else have a go.

1 ( +3 / -2 )

Investors are becoming ridiculously fixated with central bank actions.

5 ( +6 / -1 )

Filling up my car before the start of GW and then 3 days later saw me pay exactly the same per litre for gas Conversely, a fall in the yen will usually see pump prices rise within hours!

The average Japanese is not reaping the benefits of a stronger yen-there is stil a long way to go for prices to drop even more ......

5 ( +7 / -2 )

What is Japan going to do, lower interest rates! Bah-hah-hah. repeat that statement in around 2 months

6 ( +7 / -1 )

I wouldn't listen to Aso- the guy is a complete moron.

Look- double the minimum wage. raising wages in general is the same as QE but with positive results- you're still flooding the market with money, but its going to the consumers who then can spend it. Its a win win situation.

2 ( +6 / -4 )

Look- double the minimum wage. raising wages, in general, is the same as QE but with positive results while I'm for raising the minimum wage , unfortunately it'll just make more unprofitable companies go bankrupt (not always a bad thing) and the ones that have thought about moving production to cheaper countries to do that. means more job losses and zero tax revenues as a result. sound easy in theory but as we know every major decision has ripple effects

0 ( +3 / -3 )

Investors are becoming ridiculously fixated with central bank actions.

Thumbs up to that! But it's because central banks are doing lots of ridiculous things, such as expanding the monetary base by 80 trillion yen a year while economic growth is stagnant.

What we need is for government figures such as Abe to give something else to investors to ponder over - wouldn't a bit of regulatory reform to cut some red tape and make it easier to business in this country give investors that elusive glimmer of hope?

If these people in charge didn't realise it already, it should be obvious by now that the central bank reeling off new money is never going to stimulate economic growth. It's good for a short term boost to asset prices at best, but that's not sustainable economic growth.

Look- double the minimum wage. raising wages in general is the same as QE but with positive results- you're still flooding the market with money, but its going to the consumers who then can spend it. Its a win win situation.

It's not a win for the businesses who need to find the extra money to pay the minimum wage earners with, nor the consumers to whom that extra cost may be passed on to. 70% of businesses in Japan pay no income tax because they make no profits, so how do you think those businesses that employ staff on the minimum wage are likely to respond?

How many people in Japan are working for the minimum wage, anyway? Are minimum wage earners really the key to sustainable economic growth? I'm very skeptical about that.

2 ( +3 / -1 )

wtfjapanMay. 02, 2016 - 11:13AM JST

unfortunately it'll just make more unprofitable companies go bankrupt (not always a bad thing) and the ones that have thought about moving production to cheaper countries to do that. means more job losses and zero tax revenues as a result. sound easy in theory but as we know every major decision has ripple effects

Bullsh.t

I:m sick of this tired of this lame excuse. The lowest wages in Japan are generally paid in the food service industry and retail.

Try ordering your Big Mac from Hanoi or your bowl of gyudon from Jakarta. See where that will get you?

People will still want their Gyudon and Big Mac washed down with a Family Mart coffee and yes there may be a lot less competitors, but where there's a demand, there's a will and way; no matter the price

0 ( +5 / -5 )

So Gary, let's say we hike minimum wages.

Now if your Big Mac or Gyudon costs too much extra as a result, you may stop buying them, or buy them less often.

The business side response to that would be to cut the amount of labour consumed, or perhaps invest in further automation to reduce the amount of labour required and keep costs & prices down instead.

Whether we like it or not, the business side response is not to just suck it up and lose money. There is no free lunch, there is always a consequence. (It would be great if the government would just hike the minimum wage anyway, so that we could all see that it does nothing to boost economic growth, which is what Japan really needs)

-1 ( +2 / -3 )

“Tokyo will continue watching the market trends carefully and take actions when necessary,” he added.

Future manipulation ahead.

A strong currency is damaging for Japan’s exporting giants, such as Toyota and Sony, as it makes their goods more >>expensive overseas and shrinks the value of repatriated profits.

While for the rest of Japanese, reduced price on ALL imported goods & reduced price when travelling abroad.

5 ( +5 / -0 )

fxgaiMAY. 02, 2016 - 11:25AM JST What we need is for government figures such as Abe to give something else to investors to ponder over - wouldn't a bit of regulatory reform to cut some red tape and make it easier to business in this country give investors that elusive glimmer of hope?

You might make a convincing case if you can articulate exactly which red tape you want cut. Unfortunately "red tape" is one of those expressions like "taxes" or "big government" or "justice" or "environment" that people can vaguely spout without actually defining, which in some eventually becomes a religion-like ideology.

It's not a win for the businesses who need to find the extra money to pay the minimum wage earners with, nor the consumers to whom that extra cost may be passed on to.

Correction: It's nor a win for businesses who depend on government assistance to the needy to subsidize their employees. Leaving out that factor leaves the discussion incomplete and unfairly biased towards companies over the societies they operate in. To make a rational decision on this we need data, and we need data specific to each country being discussed. What are the costs of low minimum wages to Japanese society compared to the losses they'd cause the companies that pay minimum wage, and is there a more effective way to mitigate those losses?

For example, it may be possible that with liberalizing the way companies hire and fire employees while developing programs for mid-life skills retraining, Japan could keep adults with families healthy and above the poverty line while allowing low minimum wage jobs for youths who need part-time work experience in unskilled jobs. We'll never know though without data - pithy appeals to economic ideology just aren't going to cut it. If only we were having this kind of discussion on some kind of forum attached to media dedicated to providing data to its readers.

0 ( +1 / -1 )

Bullsh.t I:m sick of this tired of this lame excuse. The lowest wages in Japan are generally paid in the food service industry and retail. LOL economies are built on manufacturing and exports not F big macs and gyudon. Japan has lost an estimated 8million+ manufacturing jobs over the last 20+ years to cheaper asian nations. Thats a S ton of tax revenue lost. look at Australia where the minimum wage is around A$16~17/hr about 1300yen/hr, there last remnants of manufacturing (car manufacturing) will disappear in 2017. Only its reliance on resourse exports is what keeps their head above water. Its all nice for everybody to have a big pay packet but it always comes at a cost.****

0 ( +0 / -0 )

You might make a convincing case if you can articulate exactly which red tape you want cut.

I have certain specifics in mind from my recent experiences when making a certain purchase here, but it's pointless to go into my individual experience. I don't believe that I'm unique in experiencing the results of useless (on the balance) regulations. The review and overhaul needs to be across the board. Priority might be placed on those areas in which Japan rates poorly against the rest of the world. E.g. http://www.doingbusiness.org/data/exploreeconomies/japan/

Conversely, to your mind, are all of the regulations that Japan has in place perfect, and serving more good than harm?

As Dale Jorgenson recently advised Abe, "When industries mature they try to block competition through government regulations. The new industrial policy is to drill through “bedrock” regulations to stimulate competition."

I believe this is very much the case in Japan. But part of the problem is that the bureaucracy has no incentive to eliminate such useless regulations, having put them in place. Establishing a framework in which such incentives for the bureaucracy to properly evaulate the tradeoff (between having certain regulations and not) are put in place may be the first step.

Leaving out that factor leaves the discussion incomplete and unfairly biased towards companies over the societies they operate in.

What kind of society would you have if there were no companies to hire anyone? Business is the foundation of society, precisely because they hire people and produce stuff for people to consume. And if companies do well, that's great, because it is people of society that own companies.

We'll never know though without data

As I suggested, we may as well just go ahead and have the minimum wage raised so that we can all see the results (which I personally don't think would be any good). As a result, we could all move on and focus on what is really needed to see economic growth again. I just can't see the minimum wage being a silver bullet for all that ails Japan, even though people keep harping on about it.

1 ( +2 / -1 )

“The yen strengthened by five yen in two days. Obviously one-sided and biased, so-called speculative moves are seen behind it,” Japanese Finance Minister Taro Aso told reporters at Haneda airport Saturday.

Hey Taro, where were you when the yen weakened by similar magnitudes, again and again, back in 2013-2014?

Replace "strengthened" with "weakened", and the exact same quote could be uttered by someone opposed to your destructive policies.

Oh, wait, back then it wasn't "speculative" -- it was your party intentionally destroying the savings of your people.

0 ( +4 / -4 )

Aso should stick to reading his comics rather than commenting on things he doesn't understand.

If the Japanese government alone intervenes to reduce the value of the Yen that is exactly the kind of "one sided" action that Aso is complaining about. On the other hand, "speculators" live in many different countries and their actions are certainly not coordinated or "one sided".

3 ( +3 / -0 )

while I'm for raising the minimum wage , unfortunately it'll just make more unprofitable companies go bankrupt (not always a bad thing) and the ones that have thought about moving production to cheaper countries to do that. means more job losses and zero tax revenues as a result. sound easy in theory but as we know every major decision has ripple effects

I don't think so. Look, when you raise the minimum wage, you increase purchasing power of the masses automatically, which in turn stimulates the economy. Plus, look at places such as CAnada and Australia. Their minimum wage is nearly double that of Japan's; and they are doing a whole lot better.

Anyway, it is better than QE which raises prices without wages. I mean, which would you rather have? And remember, they are still considering raising the sales tax, so without a SERIOUS wage increase you're going to have a depression. People already are hurting. Everything is getting more expensive while wages remain stagnant. You have to seriously raise the minimum wage.

0 ( +2 / -2 )

adding Tokyo will take action when necessary.

What a joke! Basically saying we are illegally going to manipulate the yen then tell the rest of the world we are not.

4 ( +6 / -2 )

You gotta love how Japan intentionally deflates the yen, manipulating currency, and claims they did not do it, then say it was okay when caught, and now accusing others of doing it and say they will do the same again. They sure do like to cry when it's not them doing it, and cry foul when they are told it is.

3 ( +6 / -3 )

Aly,

Look, when you raise the minimum wage, you increase purchasing power of the masses automatically, which in turn stimulates the economy.

Are the "masses" all earning just the minimum wage? I really, really doubt that. Happy to be proven wrong with actual figures, but I don't think the majority of people are flipping burgers at McD's or making bowls of gyudon.

Most employed people in Japan I think are busy in primary, secondary and tertiary industries, working in commerce etc, and I'd be really really surprised if the majority of them are making only the minimum wage. Some 50%-60% of workers would be "permanent" employees, and I doubt they would be employed on the minimum wage. Contract workers are treated as second class here, but they too won't all be on the minimum wage.

Their minimum wage is nearly double that of Japan's; and they are doing a whole lot better.

Australia and Canada are doing a whole load of things differently to Japan, it's not like they are better because of their minimum wage policies. Compare the differences about doing business in each country:

http://www.doingbusiness.org/data/exploreeconomies/australia http://www.doingbusiness.org/data/exploreeconomies/canada http://www.doingbusiness.org/data/exploreeconomies/japan

they are still considering raising the sales tax, so without a SERIOUS wage increase you're going to have a depression.

But the government are going to exempt a whole bunch of stuff from the sales tax hike, so no one is going to be paying more for basic essentials anyway (poor or middle class or rich).

I just don't see how hiking the minimum wage is supposed to really help Japan. I don't see that doing it would help much, but then Japan is already in the dumps so things might not get that much worse, but I just don't see it as a rising-tide policy that would really lift all boats.

2 ( +3 / -1 )

Wages need to rise. Loser companies need to go out of business. Winner companies need the space. Change results in Innovation. Yes, even in Japan.

The "big mac" theory doesn't wash as the unit cost per burger doesn't rise noticeably. You can use this new fangled tool the kids use these days called the Internet to look at other countries with higher wages and economies of scale (pssst, not in Asia).

3 ( +3 / -0 )

Aso and Abe still in charge is what really worrying me...

5 ( +5 / -0 )

Aso has reiterated that Japan could intervene in forex markets to stem the unit’s steep rise, saying moves to halt the currency’s “one-sided, speculative” rally would not breach a G20 agreement to avoid competitive currency devaluations.

Any manipulation WHAT-SO-EVER is against the agreement. It goes against natural trading.

1 ( +3 / -2 )

fxgaiMAY. 02, 2016 - 01:25PM JST Conversely, to your mind, are all of the regulations that Japan has in place perfect, and serving more good than harm?

Now since when is "I think you should be more specific about what you want to cut," a synonym for "Not only do I want nothing cut, but I think every regulation in place is flawless"? If you don't want to discuss the claims you're making, that's your business, but it's hardly an excuse to straw-man everyone who isn't convinced by your vague rhetoric.

As Dale Jorgenson recently advised Abe, "When industries mature they try to block competition through government regulations. The new industrial policy is to drill through “bedrock” regulations to stimulate competition."

And until Jorgenson provides some details, his advice is a load of meaningless ideology-driven waffle.

Leaving out that factor leaves the discussion incomplete and unfairly biased towards companies over the societies they operate in. What kind of society would you have if there were no companies to hire anyone?

So, wait, now "Let's not bias the discussion toward companies," is a synonym for, "Let's get rid of all companies"? I'm getting the impression you don't actually want to seriously support your position.

-2 ( +0 / -2 )

Look- double the minimum wage. raising wages in general is the same as QE but with positive results- you're still flooding the market with money, but its going to the consumers who then can spend it. Its a win win situation.

No, it won't. Doubling the minimum wage would result in two things, either a 50% cut in salary or headcount, or a 50% increase in prices, meaning that you would have to pay even more for your ramen of coffee, leaving you less top pay for other things. And the people who sell those other things then have to raise prices to make up for their loss. Eventually the economy would adjust, and inflation negate the value of the wage increase. Unfortunately, most people who earn minimum wage aren't educated enough to understand this. But they learn soon enough when they are reduced to working only one or two days a week. Those who are lucky won't get any more than they did before, those who aren't lucky will end up with nothing at all.

The rise in the yen is worrying, particularly since trillions of yen have been printed and spent to weaken the currency, cause inflation, and pad the bottom lines of Japan Inc. The government is finding itself being painted into a corner, as money printing and spending are not working. Eventually, spending will have to be cut, and this is what most worries Aso and Abe. They will borrow, tax, spend, and squander as much as they can, but the end of the road is in sight, and coming up fast.

0 ( +4 / -4 )

How about increasing production efficiency as alternative ? As long 2 people are digging a hole and 3 safety people standing around the whole this country can't go to compete.

1 ( +2 / -1 )

Exporting companies need to get off their rear and innovate, instead of relying on a weak currency.

1 ( +2 / -1 )

Hope Mr.Aso take serious action to weaken Yen very soon before I swap money for shopping ton of games and goods in Akihabara next week.

-1 ( +0 / -1 )

What a joke! Basically saying we are illegally going to manipulate the yen then tell the rest of the world we are not. what many still fail to understand currency intervention ISNT ILLEGAL, it's only frowned upon. why isn't it illegal because almost every major currency does it either directly indirectly stealthy. Nobody wants to illegalise it as that would remove tools that they can use to make themselves competitive instead, they just use a mutual agreement. LOL

-1 ( +1 / -2 )

Japan's stopping another country's manipulation on yen is not manipulation.

-5 ( +1 / -6 )

Funny how the dollar dropped suddenly after the Americans complained about Japan weakening the yen.

4 ( +4 / -0 )

Katsu78, getting into details about individual regulations out of hundreds of thousands of candidates is pointless. If you agree that there do exist crappy regulations, then why do you insist that specific ones must be discussed?

With the magnitude of crappy regulations in Japan it is important to keep the eyes on the forest rather than the trees. Otherwise nothing will ever improve significantly.

-1 ( +1 / -2 )

What happens with Yen,is a mere speculations-i repeat this always-it has nothing to do with any economic basis.If we apply whats going on in Japan economy technically,the opposite should happen.I guess any first year student in any school business knows this well known fact.I posted before technical analysis of yen,expecting yen will go up to 100yen against dollar in near future once its breaks vibonachi level-106.63-which happened already this week,i expect Governmental intervene-and strongly support this step-because this MERE SPECULATIONS damages economy,mainly Export sector.Am telling this clearly,because i know all left wings will start their daily all around clock attack against Abe Shinzo and his Cabinet,bearing them responsibility of catastrophic results of whats going on.This would be pathetic and silly.I agree with Minister of Finance in his announcements.Though i explained it in a technical way clearly,am sure left wings-as usual-will neglect and deny it,continuing their immortal job,hunting any hints for Abe and LDP.Am telling those,i wanna you to tell us what would you do in such a situation?hopefully i wont read romantic platonic suggestions and ideas have nothing to do with reality,facts on the ground and situations.Finally am telling them,we will meet soon in Summer elections and will see what will happens.See you then left wings!!

-5 ( +1 / -6 )

I find consistent repetition of one's previous statements, backed up with jargon and stern admonishments of anyone's refusal to accept the initial statement and its consistent repetitions, and finally topped of with ad hominem, straw men even more jargon to be a highly persuasive form communication.

3 ( +3 / -0 )

wages in Denmark are $20 per hour minimum wage yet they seem to have a working economy just fine with happy people and such. Anyone can compare where you live to Copenhagen here http://www.numbeo.com among other places. Free education paid by taxes. Students even get a stipend while in school. Hard to become a citizen. Overall it's quite attractive.

If you're using the big mac index, it's only $5.60 compared to $4.80 in USA (2014). Living costs are about 30% more but it seems to work out in their particular economy of scale with higher benefits, which USAers have no concept of.

Japan needs wages to go up. They've been the same for 20 years or more? They're not going to be able to support the elderly.

1 ( +2 / -1 )

Exporting companies need to get off their rear and innovate, instead of relying on a weak currency. domestic, import retail companies need to innovate and stop getting a free ride by the exporters, after all its the exporters that make Japans trade surplus. Japans Germany US etc almost all major economies were built on exports/manufacturing

0 ( +2 / -2 )

How about increasing production efficiency as alternative ? As long 2 people are digging a hole and 3 safety people standing around the whole this country can't go to compete.

This problem was to be addressed by the phantom "third arrow." But labor laws in Japan make it nearly impossible to fire full time employees, so there is no penalty for doing little work, or no work at all. The consequence is that companies stop hiring full time workers, and hiring only part-time employees for fixed terms. Neither situation is good, but Japan made this bed, and now it has to sleep in it.

Exporting companies need to get off their rear and innovate, instead of relying on a weak currency. domestic, import retail companies need to innovate and stop getting a free ride by the exporters, after all its the exporters that make Japans trade surplus. Japans Germany US etc almost all major economies were built on exports/manufacturing

Since companies in Japan promote by seniority and not performance, there is no incentive to work hard or innovate. If you are a company employee, and come up with a remarkable new device, it will belong to the company, and you will get nothing more than your usual salary. When the blue LED was invented, the creator received a princely 2 man yen for his effort, while the company earned 120 billion yen from the invention. The man who invented the LED was goaded by others into suing the company, which he did, but most salarymen don't have balls that big. The inventor of the blue LED took his money and moved to America, where his work is much more appreciated and compensated.

What many people don't understand is that Japan's economy is not really export based. Domestic consumption accounts for 60% of all goods produced in Japan. The problem is that when domestic companies owned 60% of the market in the world's second largest economy, they didn't want to share. They twisted the arms of the government to prevent foreign competition from selling in the domestic market, in effect, monopolizing it. And what happens with monopolies? Consumers get screwed by them. It is the lack of competition which has caused the lack of innovation in Japanese companies.

And now that the domestic market is falling by hundreds of thousands per year from population decline, these companies are in even more trouble than before. They can't sell abroad due to the strong yen, they can't sell at home due to a steeply declining domestic market. In the end, they have to get by on taxpayer funded stimulus programs, and borrowing from themselves (as they have their own banks), trading their debt amongst themselves, and rolling it over and over.

5 ( +5 / -0 )

They sure do like to cry when it's not them doing it, and cry foul when they are told it is. and so does every other major currency, and yes they all manipulate their currency either directly or stealthily. If the hate it so much why don't they just make it illegal. somehow I doubt anybody wants to do that so they continue to just point the finger at each other and complain

-1 ( +0 / -1 )

BOJ has no choices left,but to intervene strongly and urgently to weaken Yen,to stand up to SPECULATIONS WAR against yen.115 yen against dollar was considered to be hardship for export,how about now-below 105?its catastrophic.Its hard times to Japan economy and Abe government,though he has nothing to do with Wall street speculators Mafia.Who-and how-can anyone blames BOJ if intervenes?What is he supposed to do in such a catastrophic situation?anyone can attack easily,but almost no one can tell us what is supposed to be done!

-1 ( +2 / -3 )

BOJ has no choices left,but to intervene strongly and urgently to weaken Yen,to stand up to SPECULATIONS WAR against yen.

That isn't much of a choice, as creating and spending money to weaken the yen can only have a temporary effect. Is there any expectation that further easing and spending will be any more successful than such policies have been until now?

What needs to stop is the practice of developed countries printing money to pay their exorbitant bills, and to create inflation to do the same thing, while robbing their citizens of the value of there earnings and savings. The problem is not so much the strengthening of the yen as the weakening of foreign currencies, and the fact that markets have become dependent on more easy money. This is not the fault of speculators, but the fault of regulators, who are making us pay for their incompetence.

0 ( +2 / -2 )

Sngatsu03

QE was never the free choice of Abe and his government,but the world big financial crisis or Tsunami,came as usual from WALL STREET.even Europe up till now still doing same,let alone States which did it in up normal way,and had biggest dept in the world.As you see reacted not acted,and has no other choices like Europe or even States. Yes,BOJ must intervene,this is not a question,nor for discussion,no matter if the affect will be temporary or long lasted one.It is WALL STREET SPECULATIONS MAFIA,not Abe or his government,am involved in stock markets long ago and talking technically.I analyzed before and expected-according to technical analysis-yen will go up to 100yen against dollar in near future i n case it breaks Vibonacci ratio or level of 106.63.which happened this week.So its well known time ago.BOJ and LDP cabinet are aware of it.Now they have to intervene.Now means now,not a day later!! Up till now,i couldnt find objective post,all attack just to attack Abe and LDP.i posted my presentation technically and objectively,hope some one could answer me in same way.

-2 ( +1 / -3 )

Look, according to your own technical analysis the recent relative dollar weakness / yen strength was expected, so now why should the Ministry of Finance instruct the BOJ to intervene?

A strong currency is a good thing. Japan runs bug current account surpluses and can afford to have a stronger currency IMO. And the yen is hardly strong anyway - it isn't wen below 100 and no where near its record highs after all Abe has done to try to trash it

And if the currency does get weaker and Japan's economy needs to replace some exporting businesses with more domestic consumption type importing businesses, what is wrong with that? How about more butter import related businesses since Japan has a shortage of that.

The problem that Japan has is that its business environment makes it hard to react in these ways. The Abenomics third arrow should have been fired to help increase the metabolism of the economy.

-1 ( +0 / -1 )

Fixgal

Though its well known yen-according to technical analysis-will go up to 100 against Dollar,but Abe government cant intervene before its too crucial and catastrophic,which i believe below 115 against dollar,but now its unbearable.Export is the most important sector of Japan economy and income,it couldnt be replaced by domestic consumption in anyway.Yes,it can help,but never ever an alternative.The business environment psychology-not objectively-is weak and suffers uncertainty and cautious.Thats understood anyway,but isnt an excuse.BOJ made interest below zero to encourage business,what more could be done? What you suggest makes sense,but wont help that much,nor compensate. What makes BOJ intervene an obligation,and a must,is that whats going on with Yen,is absolutely opposite to what should happen normally with a troubled economy.Yen should be hell down,but never flying rocket!!its mere speculations.Its hard times and hard choices for Abe and LDP.I express deep concern,but still support Abe and LDP and confident they will handle it in a proper way.

-3 ( +0 / -3 )

Don't worry about speculators. By their nature they will eventually sell their yen in order to lock in their profits, and the effect will then wear off.

Japan's big sophisticated exporters are not oblivious to the currency risks they far either, and they all had a chance to use financial instruments to hedge themselves against an appreciation in the yen, which again, is just a partial retracement of the currency plunge that Abe engineered when people were still taking his pledges seriously.

And in time, there is absolutely no reason that Japan needs to keep its big exporters as the primary focus of the economy. The economy can change if the politicians would allow it to. It won't happen overnight of course. The flip side of having lots of exports is that the currency has a natural tendency to increase. You can opt for one with accepting the other.

-1 ( +0 / -1 )

domestic, import retail companies need to innovate and stop getting a free ride by the ...

Narrow this to the inefficient agriculture, corrupt construction and so many of the "middlemen" industries which add little or no value, and I'll be closer to agreement.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites