The Democratic Party of Japan (DPJ) has a new prime minister and party leader Yoshihiko Noda. The 'anti-Ozawa' member of the party will need to appoint a new cabinet which is likely to include some members of the other 'Ozawa faction', in order to satisfy both sides of the party which have been struggling with disunity. With a general election 2 years ago, Noda will need to offer in this period to give the party the best possible chance in the election.
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Monday, August 29, 2011
Wednesday, August 17, 2011
Discount airlines enter Japanese domestic market
Japan has been a notoriously difficult place to fly with discount airlines. In the past there have been a few Chinese airlines, along with Jetstar and Air Asia X and Cebu Pacific, which have been servicing the major cities of Osaka and Tokyo.
Japan's two major airlines - ANA and JAL - have entered into arrangements with two discount airlines - Air Asia (Malaysia) and Jetstar (Australian, Qantas subsidiary) respectively to offer cheaper domestic connections. Really this gives these domestic carriers greater access to tap into the local market, as well as allowing the majors to retain high prices for Japanese customers who are not price-sensitive.
See the story at the Japan Times - my favourite newspaper in Japan.
Sunday, August 7, 2011
Japanese brewer decision-making questionable
Asahi Brewing Group is about to buy into Independent Liquor of New Zealand. This is a bizarre acquisition for the Japanese brewer for several reasons:
1. There is an alcohol consumption or cultural shift taking place in NZ, which is likely to see per capita consumption fall
2. The country's population is static - the young go to Australia, UK or Japan for work, and they are replaced by Asian immigrants or retirees who are less likely to drink beer.
3. The currency is at a high - though not as bad against the yen.
4. The economy is in a slump. Commodity prices are high, but then so is the currency
5. Japanese beers have no presences or reputation in NZ
Unless the corresponding price for the asset is good, then I don't think I'd be discarding those yen so easily. Their purchase in Australia makes more sense. I'd be buying San Miguel Brewing in the Philippines. The population is growing at 2%, and there is always the prospect of the poor, whom consume their own domestic brew, opting for a branded 'club' product.
Japanese companies seem seldom to exercise good decisions when investing in foreign markets; this looks like another case. Sorry, NZ, I'm more critical when we lose the footy...but only because I can't stand the game.
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