Tag: Japan

  • Typhoon Etau slams Japan, widespread damage seen

    Significant flooding in Japan this week from torrential rainfall exacerbated by Typhoon Etau has caused widespread damage to property and infrastructure, according to Boston-based catastrophe modeler AIR Worldwide.

    The typhoon made landfall on the Chita Peninsula on Wednesday. No damage estimates have been issued.

    The flooding extensively damaged houses and vehicles and overwhelmed the drainage pumps for the crippled Fukushima Daiichi nuclear power plant in Fukushima Prefecture, resulting in leaks of hundreds of tons of radioactive water into the Pacific Ocean, AIR said Thursday in a statement.

    “A senior scientist at AIR, Kevin Hill, said in the statement: “Etau did not cause significant damage near the landfall location from wind or precipitation, but it has produced prodigious rainfall and flooding several hundred kilometers to the east of where it tracked across Honshu.

    “After completing extratropical transition, the remnants of Etau produced very heavy rainfall to the north of Tokyo, in a distinctive north-south oriented band.”

    AIR noted that water damage to machinery and building contents drives most flood-related loss.

    “Although wind damage is typically automatically covered under standard fire insurance policies in Japan, flood damage is not, despite the fact that Japan regularly experiences ‘wet’ storms that deliver extreme precipitation and flooding that contribute substantially to damage,” said AIR.

    It added that take-up rates for flood insurance are relatively low in Japan.

    • Culled from Business Insurance

     

  • 70 years after the dropping of atomic bombs on Japan

    Earlier this week, the world marked the 70th year of the first and hopefully the last time of tactical use of the atomic bomb in warfare. This incident changed the course of history. Ironically, the use of such destructive arsenal has helped to prevent global war since the end of the Second World War in 1945. It has not brought universal peace because there have been several proxy wars such as the Korean, Vietnamese wars, several military confrontations between the forces of global capitalism and socialism in Latin America and the various liberation wars in Africa  and the current wars in Ukraine following other wars in Georgia and in the Caucasus areas of Russia where national groups are justly struggling to be free of Resurgent Russia.

    Following the successful development of nuclear weapons towards the tail end of the Second World War, it was left to President Harry Truman and his advisers to take the decision of if or when nuclear weapons will be deployed in the titanic struggle between the Axis and the Allied powers. It was not an easy decision. The forces of the Nazis were on their knees in Europe and American forces were closing in on the Japanese after rolling them over in the Philippines  and were on their way to take Okinawa in the Japanese homelands. The Japanese were still fighting ferociously in the name of their God-emperor  Hirohito. Each soldier rather than surrender was prepared to commit hara-kiri.  And to knock out Japan, America decided to use the ultimate weapon in their arsenal, the nuclear bomb.  The argument then was that this act would save the lives of American service men and put an end to the suffering of everybody including the Japanese! Once the decision to use the bomb was taken, the Pentagon awaited the go-ahead to drop the fat boy from President Harry Truman.

    It is now known that when the bomb was dropped on Hiroshima about 125,000 people mostly civilians were incinerated while more were to die later from radioactive fallout. A few days later another bomb was dropped on Nagasaki which also wiped out about 70,000 souls not counting those who died later from their injuries. If the import of the first bomb was unclear, the second quickly led to Japan’s surrender. Their war leader Hideki Tojo and others were tried and hanged and there were demands for trial and execution of the emperor himself but good sense prevailed and the frail old man was spared while all his powers were taken away from him and a constitution imposed on Japan forbidding it to rearm.

    The effect of the atomic weapon was dramatic globally. Movement for nuclear disarmament sprang up especially following the ability to split the atom by Russia on the heels of the American success. Even many top nuclear physicists like the famous Albert Einstein began to fear for the survival of the human race. Einstein once said if nuclear weapons were ever used in the Third World War, the 4th world war will be fought with sticks and stones, meaning human civilization would have been wiped as a result of nuclear holocaust.

    The immediate result of the use of nuclear weapons was that it stopped the war as was predicted. It is also clear that if the Japanese had developed it first, they would have had no qualms or scruples in using it against their American enemies. Adolph Hitler would probably would have used it if he won the nuclear race before the Allies. This is however not to downplay the doubts raised by the use of this war changer of a weapon. Nowadays with new morality people are asking if the use of the atomic weapons on civilians was not a war crime. Some people have even read racial motives into its use on Japanese – a non-white race while the Germans were spared of this horrific consequence of the use of this revolutionary weapon. There is evidence that tens and tens of Germans were deliberately targeted by aerial bombing by the British carpet bombing of the city of Dresden towards the end of the war in Europe with apparent no strategic significance than to punish German civilians and to carry the war to them so that there will be no question that they lost the war unlike in the First World War when Germans saw no enemy troops on their soil but rather thousands of German troops had to withdraw from enemy territories after the armistice of 1918.  This led the Germans to feel that it lost the First World War because it was stabbed in the back by internal enemies. Anti German feelings in Britain was so high that if it had the bomb it would have used it against the Germans while with a preponderance of German descendants in the USA using nuclear bombs against them was out of the question. The use of atomic weapons in tightly packed Europe may also have had unintended consequence on other people other than the Germans. Whatever the case may have been, 1945 was a watershed in military history.

    It meant that wars would have to be fought with either conventional weapons or nuclear weapons with a range of strategies including  use of tactical neutron bombs in war theatres, strategic bombers, intercontinental ballistic missiles, consideration of second strike capability  and even possibility of deployment of anti-missile systems in space to prevent being hit by enemy nuclear weapons. The futility of this has however made the use of nuclear weapons unthinkable by rational human beings. The fear of these weapons in the hands of rogue or unstable states led to the signing nuclear non proliferation treaty which unfortunately has not prevented determined states such as Israel, North Korea, India and Pakistan acquiring the weapons. The fear of Iran following suit has led to the recent signing of an international treaty with Iran with the hope that the Islamic republic can only use its nuclear know-how for peaceful purposes and not for making atomic weapons. What is clear is that some countries now see nuclear weapons possession as the ultimate deterrent against possible attack by enemies. It is now seen as the ultimate symbol of equality in the international system. They are probably right. It is inconceivable that a nuclear power will ever be attacked but this is not the same as putative nuclear power taking on a global power.

    The saddest part of the possibility of the use of nuclear bombs is that if it is ever used, it is likely to be in South Asia where India and Pakistan face each other with both countries possessing nuclear weapons and hating each other so much that they would use these weapons in the face of a conventional military defeat. Furthermore religion which is sometimes irrational has been brought into the cauldron with Pakistan claiming it has the Islamic atomic bomb and evidence that it shared its knowledge with North Korea and Iran in the past. One can only imagine the dangerous consequences of introduction of nuclear weapons into the tinderbox of Middle East politics. The prognosis is not too good.

    Even now the Japanese Prime Minister Shinzo Abe, dancing to the tune of Japanese nationalism wants to remove the peace clauses in the Japanese constitution preventing the country from rearming. One cannot blame him in the face of growing militarism in China and provocation by North Korea which regularly tests missiles across Japan. This is why the world needs to listen to the plea of the Japanese government for universal nuclear disarmament. Nigeria and the rest of Africa should support and embrace the Japanese position. We in Africa should not be smug about our continent being  a nuclear weapons free  zone because in the event of a global nuclear holocaust, we would not be spared. We may not be hit directly but mankind would wither away as a result of radioactive fallout. This is the scenario President John Fitzgerald Kennedy meant when he said in 1962 that in the event of a nuclear war the living will envy the dead!

  • Japan shares hit 15-year high on trade data

    Japan’s shares closed at a 15-year high after data showed the country’s trade account fell into a deficit in April, but was still better than expected.

    The deficit was 53.4bn yen ($440m; £283m) – lower than 825.5bn yen a year ago, and below expectations of 318.9bn yen. There was a surplus in March.

    Exports in the world’s third largest economy rose 8 per cent from a year ago – up for the eighth month – but imports fell by 4.2 per cent, well above the 1.5 per cent forecast.

    That marks the seventh consecutive rise for the benchmark index, which is on its longest winning streak since December. It has gained 4.3 per cent in the period.

    Investors were expecting the deficit, but sentiment was boosted by the fact that the shortfall was much lower than anticipated.

    Shares of Japan Tobacco were up 1.1 per cent after local reports that Suntory Beverage & Food would buy its beverage vending machine business for 150bn yen. The firm had announced in February that it was getting out of the beverage industry.

    Chinese shares hit another seven-year high with the Shanghai Composite up 2.4 per cent to 4,768.98 – leading the region’s gains.

    Infrastructure and transport stocks boosted the benchmark index after Beijing said it was seeking private funding for over $300bn (£193bn) worth of public projects.

    The Hong Kong market was closed for a public holiday.

    In Australia, the S&P/ASX 200 ended higher by 1 per cent to 5,721.5.

    Shares of miner Sirius Resources jumped more than 21 per cent after fellow miner Independence Group launched a $1.4bn bid to take it over and create a diverse base metals and gold mining group.

    Meanwhile, markets in South Korea were closed for Buddha’s birthday holiday.

  • Japan’s N1.6b grant for Oyo primary schools

    Japan’s N1.6b grant for Oyo primary schools

    THE Japanese government has approved  an $8.5 million (N1,674,500,000) grant for additional classrooms for primary schools in Oyo State.

    Project Manager, Japan International Cooperation System, Mr. Kazunori Ogaguchi, told reporters in Abuja yesterday that the project was under Japan’s grant-in-aid 2014.

    He said the project involved building 225 classrooms in 30 primary schools in Oyo under the community empowerment programme of Japan International Corporation Agency (JICA).

    Ogaguchi said the initiative would complement the Nigerian government’s effort at providing access to primary education.

    The project manager said the real cost would be determined after tenders had been evaluated and a tenderer selected.

    He said JICA had undertaken similar projects in Kano State.

    “The construction contract is for a 12-month period. We want to enhance access to school for children through increasing the number of classrooms.”

    The Project Coordinator, International Development Partner Projects in Universal Basic Education Commission (UBEC), Mr. Iro Umar, explained that the commission approached the Japanese government on behalf of the Federal Government, to seek assistance for additional classrooms to increase access to primary education.

     

     

     

     

    He said: “You are also aware of the statistics that about 10 million Nigeria children are out of school. Part of this problem is access. Like the project they did in Kano, which provided 490 classrooms and if you multiply 40 times 490, you will surely agree that a lot of Nigerian children were comfortably seated into the classrooms ready for learning”.

  • Japan’s N750m grant for Northeast

    The United Nations Children’s Fund (UNICEF) has received a grant of US $ 3.4 Million or N750 million) for Integrated Provision of Life-Saving Emergency Interventions for Vulnerable Populations in the Northeast of Nigeria, from the Government of Japan. The grant will be used for interventions focused on the Internally Displaced Persons and conflict affected populations in the area in the sectors of Water Sanitation and Hygiene, Health, Nutrition, Child Protection and Education.

    The conflict in the Northeast of Nigeria especially in the states of Borno, Yobe and Adamawa has caused large-scale human suffering for the populations in the areas especially children and women. The conflict has triggered major population movements and the number of IDPs in the north east has almost doubled in less than a year, from an estimated 647,000 in May 2014 to what International Office of Migration reports is now around 1.2 million.  Children make up about 56 per cent of those who have been internally displaced, with over half of them being five-years or younger.

    ”This grant is timely and will further boost the work UNICEF is doing in the northeast. It will make a significant life-saving contribution to alleviate the suffering of the affected populations in the northeast especially children and women” said the Officer in charge UNICEF in Nigeria Mr. Samuel Momanyi.

    Since 2000, the Government of Japan has been a major donor to UNICEF supporting interventions in child survival, prevention of infectious diseases in children and emergency interventions in Nigeria, through the UNICEF/Federal Government of Nigeria Programme of Cooperation.

    “I earnestly hope that this grant aid will bring humanitarian assistance to the affected populations, especially children in the northeast of Nigeria” said Mr. Masaya OTSUKA, Chargés d’Affaires ad interim of the Embassy of Japan in Nigeria. “The Government of Japan will continue to cooperate with the people and Government of Nigeria and the international community to mitigate the conflict through nonmilitary assistance, and to support Nigerian people affected by the conflict.”

     

  • Japan seizes Syria-bound journalist’s passport

    Japan’s authorities have seized the passport of a journalist planning to travel to Syria, local media say.

    It was necessary to confiscate Yuichi Sugimoto’s passport in order to protect his life, the authorities said.

    The 59-year-old photographer, who had planned to enter Syria on 27 February, described the move as a threat to the freedom of press.

    Two Japanese hostages were killed by Islamic State (IS) militants in Syria in January.

    However, Mr Sugimoto told reporters that he had no intention to visit areas controlled by IS.

    It is said to be the first time the Japanese government has taken such a step.

    The foreign ministry says it is in accordance with a provision in the country’s passport law, that allows a confiscation in order to protect the passport holder’s life.

    Mr Sugimoto, who has covered conflict zones in Iraq and Syria before, insists he has always taken precautions and retreated when in danger.

    “What happens to my freedom to travel and freedom of the press?” he told the Japanese paper Asahi Shimbun.

    He said he was planning to travel to Turkey before entering Syria with a former soldier who had previously worked for Kenji Goto, a fellow journalist who was taken hostage, and killed in Syria last month.

    A second Japanese citizen, Haruna Yukawa, was also kidnapped and killed by IS militants.

    After the handling of the hostage crisis, approval ratings for the government of Prime Minister Shinzo Abe have gone up, recent polls show.

  • Japan pension fund enters new era

    When Takahiro Mitani’s term as head of the world’s largest retirement fund finishes in March, so too will the old era of Japanese pension management.

    The former Bank of Japan official saw his power ebb during a five-year reign at the $1.1 trillion Government Pension Investment Fund, as Prime Minister Shinzo Abe took office with the goal of overcoming deflation. Mitani, 65, will be the last person to wield sole control of a bond-heavy GPIF after the biggest overhaul in the fund’s history.

    Abe, 60, has reshaped government by putting his own people in positions of power at institutions across the nation. Mitani, who watched Masaaki Shirakawa get replaced at the BOJ and proponents of Abenomics surround him at the fund, acquiesced to the new order after months of resistance. The GPIF he leaves has less reliance on domestic debt, a broader asset mix and plans to revamp governance.

    “The wind has blown in a certain direction, and Mr. Mitani belongs to an era that has probably passed,” Jonathan Allum, a London-based strategist at SMBC Nikko Capital Markets Ltd., said by phone Dec. 10. “His background is at the BOJ, from an earlier period of its history,” he said “It was time to change.”

    Mitani became the public face of that shift at an Oct. 31 press conference. As cameras rolled and flashed in a rented conference room in Tokyo’s Roppongi area, he bowed, introduced himself, and spoke into seven microphones. Finally, Japan is heading for “appropriate inflation,” he said, explaining why the fund would put half its assets into equities and slash local debt to 35 percent of holdings from 60 percent.

    Govt Push

    Mitani took over GPIF in 2010 with no experience in the asset management industry, a staff of about 70 people and a pay packet worth 17.46 million yen ($145,330) for his first year. With prices in Japan decreasing for more than a decade, holding 68 percent of assets in local debt fit with the pledge he made to gain the public’s trust through safe and efficient investment.

    That changed soon after Abe came to power. In April 2013, Haruhiko Kuroda announced record stimulus just weeks after Abe put him in charge of the central bank. Stocks soared, the yen slumped and in May consumer prices stopped falling.

    By November, the BOJ’s preferred measure of inflation was climbing at an annual pace of 1.2 percent. Mitani faced a public attack on his investment strategy, with a report commissioned by Abe painting a picture of a badly run fund that was out of step with the times.

    •Culled from Bloomberg

  • ‘Japan’s Q3 recession deeper’

    Japan’s economy shrank more than initially estimated in the third quarter of this year, according to revised gross domestic product (GDP) figures.

    The economy contracted by 1.9 per cent in annual terms from July to September, well above a preliminary reading of 1.6 per cent.

    It also shrank 0.5 per cent on a quarterly basis, compared with an initial estimate of 0.4 per cent, data showed.

    A big fall in business spending plunged the economy into a deeper recession.

    The revised figures, which come just days before Japan’s national elections, showed that business spending dipped by 0.4 per cent from the previous quarter, instead of the 0.2 per cent estimated in the preliminary reading.

    The world’s third largest economy unexpectedly fell into a technical recession after shrinking for the second consecutive quarter in July to September.

    It had contracted 7.3 per cent in the second quarter, which was the biggest fall since the March 2011 earthquake and tsunami.

    An increase in the country’s sales tax, which was first raised in April from five per cent to eight per cent, had hit growth in the second quarter and still appeared to be having an impact on the economy.

    The dire data had led Prime Minister Shinzo Abe to call a widely-anticipated snap election last month, to seek a mandate to delay an increase in the tax to 10 per cent, scheduled for next year.

    The tax increase was legislated by the previous government in 2012 to curb Japan’s huge public debt, which is the highest among developed nations.

    Adding to the downbeat data, a Reuters poll on Monday showed that confidence among Japanese manufacturers fell in December and is expected to deteriorate further.

    The Reuters Tankan sentiment index for manufacturers fell to 10 in December from 13 in November, with automakers taking a hit.

    Manufacturers expect a further decline to 7 in March.

  • Nigeria seeks pact with Japan on maths, science education

    Nigeria has approached the Japan International Cooperation Agency (JICA) for support in running the third cycle of the Strengthening of Mathematics and Science Education (SMASE) programme for teachers at the pre-service level, the Minister of Education has said.

    SMASE is a programme initiated by the National Teachers’ Institute (NTI) with the support of JICA to improve the teaching and learning of mathematics and science in Nigeria through the training of teachers and use of enhanced techniques and tools.

    Addressing the Cycle Two, Fourth Cohort of the SMASE training for teachers drawn from Akwa Ibom, Anambra, Benue, Imo and Yobe States at the NTI headquarters in Kaduna last Monday, Minister of Education, Malam Ibrahim Shekarau, said the National Commission for Colleges of Education (NCCE) was also considering the proposal for the third cycle for teachers trained in the colleges of education.

    Shekarau, who was represented by the SMASE National Coordinator, Mr. Joseph Aguiyi-Ironsi, said planning for the third cycle is in full swing as the national coordinating units have been meeting with the stakeholders to ensure the success of the programme.

    “The third cycle of SMASE would introduce the programme to teachers at pre-service education level. NCCE is considering our proposal, while a proposal has been sent to JICA for consideration. Having gone through the primary school with success, the federal government has approved the content for the secondary school phase to be developed.

    “The federal Ministry of Education implemented SMASE phase one between 2006 and 2009, while phase two ran between 2010 and February 2014 with JICA support. JICA withdrew its support in February and since then there has been expansions with all 36 states and FCT as pilot states.

    “During the second phase only four inset cohorts were run, but since February, NTI has been able to implement three cohorts of cycle two and we are here for the fourth cycle,” the Minister added.

    The Director-General and Chief Executive Officer (CEO) of NTI, Dr Aminu Ladan Sharehu said NTI has trained 413 teachers on SMASE and conducted seven cohorts of cycle one from all states and the Federal Capital Teritory (FCT) except Lagos State.

    “We have trained three cohorts of cycle two this is the fourth cohort. SMASE training is progressing and succeeding and NTI is fully committed to Smase training and improvement of teachers’ education in the country. We have included computer training in SMASE inset training with a computer laboratory while we are on the verge of completing our science laboratory.”

     

  • ‘Japan pension fund’ll double local stocks to 24%’

    Japan’s $1.2 trillion pension fund will double its allocation target for local stocks, according to analysts, who’ve ratcheted up expectations for equity buying while sticking with projections for a reduction in bonds.

    The Government Pension Investment Fund will increase its domestic equity allocation to 24 per cent of assets from 12 per cent, according to the median estimate of 12 fund managers, strategists and economists polled by Bloomberg over the past two weeks. That’s up from 20 percent in a similar survey in May. The Topix index soared four per cent on October 20 on a Nikkei newspaper report that the fund would set a 25 per cent local-share target.