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The Discredited MITI Seeks to Return to Its Previous Glory

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发表于 3-16-2016 18:46:38 | 只看该作者 回帖奖励 |倒序浏览 |阅读模式
Leo Lewis and Kana Inagaki, Japan Inc: Heavy Meddling; The architects of Abenomics revive the interventionist spirit to try and compete more with China. Financial Times, Mar 16, 2016.
http://www.ft.com/cms/s/0/0118e3 ... 9-2303682345c8.html

Quote:

"It [MITI] played the role of an arch manipulator of a command economy, with a mandate to take on the world.

"And there will be more tests to come as Japan’s competitiveness fades and the paradoxes of Abenomics become more stark, Meti insiders say. It originally pushed for an all-Japan solution to Sharp’s crisis, involving a purchase by the state-backed Innovation Network Corporation of Japan. The higher bid from Hon Hai and the refusal of Sharp's banks to play the all-Japan game mean Meti must pretend that it is globally minded enough to live with the sale.


Note:
(a) "At the height of its powers in the 1970s, Japan's ministry of international trade and industry [MITI 通商産業省 (通産省 for short)] could turn spoons into golf clubs.  But the men from the ministry were not only interested in persuading the cutlery makers of Tsubame City to retool themselves as producers of sports equipment."
(b) Some "are convinced that the ministry, now known as Meti (the ministry of economy, trade and industry 経済産業省 [略称: 経産省]), has indeed recaptured some of its old magic. To them, recent talks to merge the PC units of Fujitsu and Toshiba, and Osaka Steel’s takeover of rival Tokyo Kohtetsu, show the ministry is running Japan Inc once again.

Tokyo Kohtetsu Co, Ltd 東京鋼鐵 株式会社  
("Kohtetsu" is the official spelling that the company adopted. Take notice that the more common romanization of 鋼鐵 is kōtetsu. (In other words, both "oh" and "ō" are two ways to signify a -- the same -- long vowel.)  Ignore the upper case for K, which is so because it is a proper name.)
(c) The 2011 Tohoku earthquake

Actually, tōhoku 東北.

(d) "An example of interference — denied by those involved — was the pair of near-simultaneous oil sector deals in December. JX Holdings, Japan's largest refiner, announced plans to merge with TonenGeneral Sekiyu just after a similar merger between Idemitsu Kosan, the second-biggest refiner, and Showa Shell."
(i) Based in Tokyo, JX Holdings was formed in 2010 though merger of Nippon Oil Corp 新日本石油株式会社 and Nippon Mining 新日鉱 Holdings, Inc. (J stands for 日本 and X, unknown. ja.wikipaedia.org)
(ii) TōnenGeneral Sekiyu/ExxonMobil, where TōnenGeneral Sekiyu is, in Japanese, 東燃ゼネラル石油 (ゼネラル is katakana for "general").
(iii) Idemitsu Kōsan Co, Ltd  出光興産株式会社 (which Sazō IDEMITSU 出光 佐三 founded in 1911; 興産 = industry; industrial)
(iv) Showa Shell Sekiyu  昭和シェル石油株式会社
https://en.wikipedia.org/wiki/Showa_Shell_Sekiyu
("is the base of Royal Dutch Shell group in Japan. It was formed by the merger of Showa Oil Company and Shell Sekiyu which was begun around 1876")

(e)
(i) "Atsushi SAITŌ 斉藤 惇, the former head of the Tokyo Stock Exchange and now chairman of Kohlberg Kravis Roberts in Japan"
(ii) "Mr Abe has also made no secret of the fact that the brains of the Abenomics story — most prominently Takaya IMAI 今井 尚哉 [title: 内閣総理大臣秘書官], his chief economic adviser — are former Meti officials."
(iii) "Michisuke NAYAMA 名山 理介, executive vice-president of Mitsubishi Heavy Industries"
(iv) "Eiji HAYASHIDA 林田 英治, chief executive of JFE Holdings, Japan’s second-largest steel group"
(A) Based in Tokyo, JFE Holdings, Inc was formed in 2002 by the merger of NKK (日本鋼管株式会社 Nihon Kōkan Kabushiki-gaisha) and Kawasaki Steel Corporation 川崎製鉄株式会社. enwikipedia.org
(B) "JFEによれば、社名のJFEは日本(Japan)、鉄鋼(鉄の元素記号Fe)、エンジニアリング(Engineering)を組み合わせたものであり、また日本を代表する未来志向の企業グループ(Japan Future Enterprise)を意味する。"  ja.wikipedia.org

my translation: The company name JFE is composed of Japan, Fe (symbol of the iron element) and Engineering. Also it signifies Japan Future Enterprise.
(v) "Ryo FUJII , head of Permira Japan"
(A) His name should be Ryōtaro FUJII 藤井 良太郎.
(B) Permira
https://en.wikipedia.org/wiki/Permira
, whose katakana is ペルミラ.

(f) "the 2013 Industrial Competitiveness Enhancement Act 産業競争力強化法, which formalises the government’s role in 'renovation of industries' and supplies Meti with the kind of incentives it has not had for years."
(g) "Since Mr Abe came to power, the ministry has stepped up its regular industrial 'surveys' which push sectors such as metals and glass into mergers they do not necessarily want. A metal industry survey in 2015 was followed by Nippon Steel & Sumitomo Metal saying last month that it would buy smaller rival Nisshin Steel [Co, Ltd 日新製鋼 株式会社]. Both companies argue that the deals were arrived at for sound commercial reasons."

Nippon Steel & Sumitomo Metal  新日鐵住金株式会社
https://en.wikipedia.org/wiki/Nippon_Steel_%26_Sumitomo_Metal
(formed in 2012 with the merger of Nippon Steel and Sumitomo Metal)





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