Hongkongers are returning to the Japanese property market after a two-year absence, taking advantage of a weakening yen, which is at a 20-year low against the US dollar.
“Inquiries for Japanese homes from Hongkongers have surged by up to 40 per cent this month,” said Anvy Cheung, chief executive of Sakura Global, which specialises in Japanese property. “In the past two years, most of them just stayed on the sidelines, adopting a wait-and-see approach [due to the pandemic].”
Most of the clients are looking for homes in Japan for investment or for holiday use, with budgets ranging from HK$1.5 million (US$192,000) to HK$2 million, she added.
The Japanese yen, which has fallen 12 per cent since January, may continue to weaken against the US dollar amid expectations the Bank of Japan will lag its peers such as the US Federal Reserve in normalising monetary policy.
As the Hong Kong dollar is pegged to the US currency, the yen’s steep devaluation makes property investment more attractive to investors from the city. The easing of travel regulations, which were introduced at the start of the pandemic two years ago, has also boosted investors’ confidence.
…continue reading
Fujitsu to sell scanner business to Ricoh for $625m
Nikkei – Apr 25
Japanese IT services company Fujitsu is selling its scanner business to office equipment maker Ricoh for about 80 billion yen ($625 million) as it shifts its focus to software development, Nikkei has learned.
Middle-aged job-hopping booms in Japan
Nikkei – Apr 24
Japan has seen a surge in job-hopping among older workers as companies seek experienced individuals who can help them grow in the post-pandemic era.
Calling all disrupters: Japan’s Rakuten bets big on virtual networks
Nikkei – Apr 22
In early March, Rakuten executives Hiroshi Mikitani and Tareq Amin returned to Barcelona, the site of their fateful first meeting. On the sidelines of the Mobile World Congress in 2018, Amin, then an executive at Indian telecom Reliance Jio, had sold Rakuten founder Mikitani on the idea of building Japan’s fourth mobile network and using a then-untested technology to do it.
Yoshinoya chain executive sacked over sexist remarks
Nikkei – Apr 20
A managing director for “gyudon” beef bowl restaurant chain Yoshinoya has been dismissed over inappropriate remarks about young women made at a university-hosted lecture, the parent company said Tuesday.
Japan posts yawning trade gap as China exports slow
Al Jazeera – Apr 20
Japan recorded a trade deficit in March that was more than four times wider than market forecasts, as China-bound exports slowed sharply while soaring energy prices raised the cost of imports, adding to economic challenges brought by conflict in Ukraine.
Japan to model digital yen tests on Sweden’s approach, not China’s
theedgemarkets.com – Apr 19
The Bank of Japan (BOJ) will explore the design issues of a central bank digital currency (CBDC) in measured steps like Sweden rather than pressing ahead with large-scale pilot tests like China, according to the BOJ’s point man on digital yen research.
