BCCJ Acumen May 2012

The Magazine of the British Chamber of Commerce in Japan May 2012 | ¥900

UK-JAPAN ARMS PACT

QUEEN’S DIAMOND JUBILEE

NEW BCCJ PRESIDENT

BRITISH EMBASSY CHOIR

TRIBUTE: MINORU MORI

BESIDE THE SEASIDE

RETURN TO TOWER BRIDGE Around the world in 30 months | Page 32

PLUS FREE: BOOKS, TICKETS and CHAMPAGNE! INDUSTRY & A-LIST: M&A and OFFICE SOLUTIONS INVESTMENT: DATA SECURITY EDUCATION: UNIVERSITIES AND MUCH MORE

VOLUME 3, ISSUE 5

May 2012

35 MUSIC Strictly Singing—for Charity Sponsor a concert or audition at the British Embassy Choir Tokyo.

48

20 DEFENCE Sweet Deal or Arms Race?

Behind the multi-million pound UK–Japan defence pact 8 FOREWORD The Diamond Jubilee Sir David Warren KCMG British Ambassador to Japan

FREE CHAMPERS!

COMMUNITY PHOTO: THE PRIME MINISTER'S OFFICE

24 POLITICS Joint Statement by the Prime Ministers of the UK and Japan: A Leading Strategic Partnership for Global Prosperity and Security

11 PUBLISHER Warm Welcome and a Wet Farewell Simon Farrell

28 ENTREPRENEUR Life in the Slow Lane

12 MEDIA UK-Japan News

31 INTERVIEW Robert Walters

15 PRESIDENT New Year, New Face for BCCJ Nick Walters

32 ADVENTURE Return Trip to Tower Bridge Record-breaking global solo row, despite fear of deep water

16 MEDIA What you missed in the Japanese press 19 EXECUTIVE DIRECTOR Meet Your Executive Committee Lori Henderson 20 DEFENCE Sweet Deal or Arms Race?

Behind the multi-million pound UK– Japan defence pact 23 TAX UK is “Open for Business” Government wants investment, growth and jobs

45 INDUSTRY & A-LIST M&A 39 People, Costs, Policies and Unions Office Solutions & Design 40 Feng Shui for Cynics 41 Efficiency, Costs, Risk 44 TRIBUTE Minoru Mori Businessman, benefactor and believer in the arts 45 BOOKS MORI Building: The Making of Vertical Garden Cities

34 EDUCATION Selecting the Right University 35 MUSIC Strictly Singing—for Charity Sponsor a concert or audition at the British Embassy Choir Tokyo.

BOOKS MORI Building and March Was Made of Yarn

March Was Made of Yarn: Reflections on the Japanese Earthquake, Tsunami, and Nuclear Meltdown FREE TICKETS!

36 INVESTMENT Who is a Professional Investor in Japan?

37 INVESTMENT Buying Real Estate in Japan Recent changes in markets and values

46 ARTS EVENTS Damien Hirst, Jane Eyre; Tinker, Tailor, Soldier, Spy; One Day; Paul McCartney, Cambridge choir

FREE TICKETS!

48 COMMUNITY VIP, BCCJ, campaign, roundtable, seminar, launch, promotion, fashion, film, art

COVER PHOTO: NIGEL MILLARD

4 | BCCJ ACUMEN | MAY 2012

MAY 2012 | BCCJ ACUMEN | 5

The British Chamber of Commerce in Japan

BCCJ Mission To strengthen business ties between Britain and Japan, promote and support the business interests of all our Members, and actively encourage new business entrants into the Japanese market as well as Japanese investment into the UK.

Leaders President: Nick Walters Deloitte Tohmatsu Tax Co. Executive Staff Executive Director: Lori Henderson Operations Manager: Sanae Samata Executive Committee Russell M Anderson | Jaguar Land Rover Japan Ltd. Paul Atkinson | Cornes & Co. Ltd. Graham Davis | The Economist Group Alison Jambert | Eat Creative K.K. Ray Bremner | Unilever Japan Hideya Komori | Individual Member Yuuichiro Nakajima | Crimson Phoenix K.K. Vishal Sinha | British Airways Richard Thornley | Rolls-Royce Japan Co., Ltd James Weeks | Kreab Gavin Anderson K.K. James Dodds | KPMG Tax Corporation Philip T Gibb | Magellan Financial Planning K.K. Reiko Sakimura | Clifford Chance Law Office Yayoi Sogo | Individual Member Ex Officio Sue Kinoshita British Embassy Tokyo Jeff Streeter British Council Japan BCCJ ACUMEN Editor in Chief Simon Farrell

British Chamber of Commerce in Japan 3F Kenkyusha Eigo Centre Bldg.

1-2 Kagurazaka, Shinjuku-ku, Tokyo 162-0825 Tel: (03) 3267-1901 Fax: (03) 3267-1903 info@bccjapan.com www.bccjapan.com

BCCJ ACUMEN is the magazine of the British Chamber of Commerce in Japan

6 | BCCJ ACUMEN | MAY 2012

CONTRIBUTORS Nick Walters, who became BCCJ president in April 2012, is a partner at Deloitte Tohmatsu Tax Co. specialising in financial services taxation.

Publisher Simon Farrell simon@custom-media.com President Robert Heldt robert@custom-media.com Art Director Cliff Cardona Graphic Designer Jon Ealey Client Services Manager Sam Bird samuel@custom-media.com Account Executives Thomas Damiens thomas@custom-media.com Udita Ghosh udita@custom-media.com Leon van Houwelingen leon@custom-media.com

To advertise in BCCJ ACUMEN: inquiries@custom-media.com Tel: (03) 6804-5267 Fax: (03) 6804-5268 To subscribe or order copies: inquiries@custom-media.com Custom Media Publishers of BCCJ ACUMEN for the British Chamber of Commerce in Japan, and WIFM bilingual lifestyle and business magazine.

Specialists in bilingual brand strategy/visual communications, corporate bespoke solutions.

Akasaka Palace Bldg. 1F 1-4-21 Moto-Akasaka, Minato-ku, Tokyo 107-0051 www.custom-media.com Warning/Disclaimer Custom Media and the BCCJ will not accept liability for any damages caused by the contents of BCCJ ACUMEN, including, but not limited to, any omissions, errors, facts or false statements.

Opinions or advice expressed in BCCJ ACUMEN are not necessarily those of the BCCJ or Custom Media.

Contributions BCCJ Members are welcome to submit ideas for content, which will be decided on merit by the Editor. editor@custom-media.com © 2012 Custom Media K.K.

Sir David Warren KCMG has been British ambassador to Japan since 2008. He graduated from Oxford University, joined the Foreign and Commonwealth Office in 1975, and served here in 1977–1981 and 1993–1998.

Sir David will retire from the Diplomatic Service late this year.

Yuuichiro Nakajima, managing partner of Crimson Phoenix K.K., serves on the BCCJ Executive Committee and is a member of the British Embassy Choir Tokyo.

Ian de Stains OBE is a former BBC producer and presenter who has been based in Japan since 1976. From 1987 to 2011, he was BCCJ executive director. Ian now focuses on consulting and coaching and is a Fellow of the Chartered Institute of Arbitrators and convenor of its Japan chapter. dest@attglobal.net

Matt Lennon is head of Sixth Form at the British School in Tokyo. Matt gained a sports and business studies degree from the University of Manchester and a Postgraduate Certificate in Education—Physical Education from De Montfort University, Leicester.

Julian Ryall is Tokyo correspondent for The Daily Telegraph.

Mark Schreiber is an author and translator who has been based in Tokyo since 1966. He was employed as a media analyst in market research before turning to freelance writing.

Henry Scott Stokes is a journalist who has been the Tokyo bureau chief for The Financial Times, The Times and The New York Times. Educated at Winchester College and Oxford University, Henry is the author of The Life and Death of Yukio Mishima (1974).

Craig Harrison is director of Client Services at Crown Worldwide K.K., a privately owned global relocation provider.

Kingsley Kemish Thomas J Nevinsisisa senior author manager Ernst & Young of severalatbusiness books Shinnihon Taxand in Tokyo. and founder chiefHe specialises inoftax advice consultant TMT Inc.,for the UK firms in Japan, as well as Japan Partner of executive UK tax advice for Japanese search consultants firms investing in, or through, Glasford International. the UK. www.tmt-aba.com

Thomas JJNevins, of Thomas Nevinsauthor is author several labourand HR-related of several business books books, is founder chief and founder andand chief consultant ofofTMT consultant TMTInc., Inc.,the the Japan partner Japan Partnerofofexecutive executive search consultants Glasford search consultants International.

Glasford International. www.tmt-aba.com www.tmt-aba.com

Michiaki Tanaka is is a author Thomas J Nevins consultant and Japanbooks of several business representative of World and founder and chiefof Feng Shui inof Tokyo. also consultant TMT He Inc.,is the owner and president of Kantan Japan Partner of executive Systems,consultants a computer firm. search

Hiroyuki JIsobe is president Thomas Nevins is author Valuers Co. and has of Japan several business books beenfounder in the real estate and and chiefmarket in Tokyo as aofvaluer consultant TMT for Inc.,more the than 30Partner years. He a Fellow Japan ofisexecutive of the Royal Institution of search consultants CharteredInternational.

Surveyors and a Glasford member of the Counselors of www.tmt-aba.com Real Estate in the US.

JEREMY SUTTON-HIBBERT

Media Manager Shoko Nakamura

Lori Henderson has been BCCJ executive director since February 2011.

JEREMY SUTTON-HIBBERT

www.bccjacumen.com Produced by Custom Media K.K.

Glasford International. www.tmt-aba.com

MAY 2012 | BCCJ ACUMEN | 7

FOREWORD

The Diamond Jubilee

By Sir David Warren KCMG British Ambassador to Japan

I

am delighted to send this message to the readers of BCCJ ACUMEN on the occasion of the Diamond Jubilee of Her Majesty Queen Elizabeth II. Her Majesty came to the throne on 6 February 1952, and her coronation took place on 2 June 1953. Hers is the secondlongest reign in British history, after that of Queen Victoria, from 1837 until 1901. There will be an extended bank holiday weekend of celebrations from Saturday 2 June to Tuesday 5 June, with activities throughout the UK, across the Commonwealth and beyond.

As British ambassador, I always enjoy the opportunity to speak to Japanese audiences about my country today.

And, while I greatly respect the affection that I know many Japanese feel for the traditions of Britain, I also try to give an impression of how Britain has changed during my lifetime to become a more diverse and more innovative society. This is as true of the Diamond Jubilee as it is of other manifestations of modern British life. This is a Jubilee of the digital age, as you can see through social media and at the official Diamond Jubilee website at www.thediamondjubilee.org/.

For those of us not living in the UK, the Royal Commonwealth Society is inviting people around the world to share their

FREE

There will be an extended bank holiday weekend of celebrations from Saturday 2 June to Tuesday 5 June, with activities throughout the UK, across the Commonwealth and beyond. memories and stories of the last 60 years to create a digital Diamond Jubilee gift for Her Majesty. You can find out more on the Jubilee Time Capsule website at www.jubileetimecapsule.org/.

The Jubilee celebrations come during a very exciting 2012 for the UK. In only a few weeks’ time, London will host the 2012 Olympic and Paralympic Games. I am sure that the millions who visit to experience the games at first hand will also discover why Britain is one of the most exciting

places in the world in which to live and work.

Many in Japan already know this.

There are over 1,200 companies from Japan employing more than 130,000 people in the UK. London is the world’s leading international finance centre, where all the major Japanese financial companies are represented. Britain is a top destination for education and tourism, with over 400,000 young people going there to study and 13mn tourists each year.

But we want to take this further.

During the recent visit to Japan by Prime Minister David Cameron, we launched the GREAT campaign here by briefly turning the iconic Shibuya crossing into a little corner of Britain (see page 48). The prime minister’s visit also produced a Joint Statement that reflects the commitment of both countries to strengthen further our close links in many areas, across an ambitious agenda of new co-operation.

I’m very pleased that BCCJ ACUMEN is publishing the text of the statement in this edition.

And I would like to take this opportunity to wish the members of the BCCJ and the readers of ACUMEN a great summer and, of course, a wonderful Jubilee weekend.

CHAMPAGNE!

Toast the Queen with a bottle of original Champagne, courtesy of Berry Bros. & Rudd.

We are offering three lucky ACUMEN readers one bottle each of:

The 2004 Champagne vintage is evolving with real panache. This large harvest has the unusual distinction of being both big and beautiful and the UKC especially crafted for us by Hervé Danton is a real gem, the autolytic character from the 42 months of ageing

2004 Berrys’ United Kingdom Cuvée, Grand Cru, Mailly

now revealing a rich yeasty personality and plenty of savoury complexity. The blend is 70% Pinot Noir and 30% Chardonnay, the latter coaxing with friendly floral aromatics and the former richly persuasive, with its red fruit core both silky and elegant. A very impressive wine and worthy successor to the great 2002 UKC. • Size: 750ml • Retail Price: ¥5,250

To enter, simply email us by 31 May: editor@custom-media.com Winners will be picked at random. www.bbr.co.jp

8 | BCCJ ACUMEN | MAY 2012

These companies join BCCJ ACUMEN and Ambassador Sir David Warren in offering congratulations to HM Queen Elizabeth II on the occasion of her Diamond Jubilee.

Sharing a passion for horsepower for more than half a century.

We warmly congratulate the Queen on her Diamond Jubilee.

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jp.agustawestland.com

www.alliedpickfords.co.jp

www.af-info.or.jp

www.bbr.co.jp

www.baesystems.com

www.bbr.co.jp

www.bluesilver.jp Continued on next page MAY 2012 | BCCJ ACUMEN | 9

www.ecocert.co.jp

www.gsk.com

www.santaferelo.com

www.schroders.co.jp

www.sihm.co.jp

www.smith-nephew.jp/wound

www.stmaur.ac.jp

www.standardchartered.co.jp

www.tylershineon.org

www.wedgwood.jp

www.yokohamabay-sheraton.co.jp

10 | BCCJ ACUMEN | MAY 2012

PUBLISHER

Warm Welcome and a Wet Farewell

I

t’s not often that both an incumbent and a former prime minister visit Tokyo within a month or so of each other, as was the case in April and May. David Cameron arrived first, accompanied by a number of defence manufacturers, and we explore why on page 20. The joint statement he made with his counterpart, Yoshihiko Noda—“A Leading Strategic Partnership for Global Prosperity and Security”— pretty much wraps up in detail the present state of bilateral relations, which look very rosy indeed (page 24). Much ground was covered—from business, energy and security to culture, education and sport— and we were fortunate in being able to squeeze it all in, verbatim, on just threeand-a-half pages.

Too late to make this issue of ACUMEN, meanwhile, Sir John Major spoke at a BCCJ luncheon on 8 May, with his vast array of credentials and experience suggesting a very stimulating occasion. ACUMEN did

The joint statement … pretty much wraps up in detail the present state of bilateral relations, which look very rosy indeed. have a presence there, so we will feature a full report in the June issue.

After all the serious politics, softening this issue a bit—if softening is the right word—is the incredible adventure of our indomitable cover girl, Sarah Outen.

She is now paddling furiously and alone across the Pacific Ocean, focused on

reaching Tower Bridge in London, her starting point of more than a year ago. As Sarah waited for the wind and rain to stop before departing from Japan, she shared with ACUMEN her darkest (and most unlikely) fear—which is revealed on page 32. She’s probably reached Okinawa by now—if she’s rowing that way—which is very fitting, since we found three British entrepreneurs there who have been living the dream since washing up on the tropical island several years ago, after rejecting big city lifestyles (page 28).

Finally, there are more UK-related events scheduled in Tokyo featured on page 46, so please don’t hesitate to apply for the free tickets we are offering.

Simon Farrell Custom Media simon@custom-media.com

MAY 2012 | BCCJ ACUMEN | 11

LATEST UK-JAPAN REPORTS

PHOTO: UNIVERSITY OF MANCHESTER

Report: North England Can Be Global Nuclear Supplies Hub

Lingerie Firm Buys Undies Maker Wacoal Holdings Corp. said it is buying Eveden for about £150mn, Fuji television’s Zaikei news website reported on 3 April.

The lingerie firm said it will use cash reserves and loans to buy all the shares of the Kettering, Northamptonshire-based specialist in designing and manufacturing high quality, fashionable lingerie and swimwear for large sizes.

Since 2006, Eveden has consistently outperformed the market, consolidated its UK position and expanded overseas.

Goodwill Envoys Appointed for “Great Campaign” Researchers at Dalton Nuclear Institute

The UK has a chance to become one of the world’s leading nuclear manufacturing hubs, since there is a lack of resilience among the largest components’ global supply chains, dominated by Japan and France, the London Press Service reported on 10 April.

With the right level of investment this presents an opportunity for the UK to create many thousands of jobs and generate substantial economic growth, the Manchester University report is quoted as saying.

This highlights the opportunity for the government to invest in the vast potential

of northern England, as it meets the UK demand for a new generation of nuclear reactors, and uses this as a springboard for providing goods and services to the global nuclear sector worth £300bn.

The report was commissioned by the Dalton Nuclear Institute, which was established in 2005 as a leading national centre for nuclear research and education.

The nuclear new-build renaissance continues in countries such as China, India and the UK, with 60 reactors being built, 155 planned and a further 338 proposed.

A voice actor/singer and an actress have been appointed the latest goodwill ambassadors for Britain’s “Great Campaign”, Daily Sports reported on 11 April.

Secretary of State for Culture, Olympics, Media and Sport Jeremy Hunt awarded certificates to Masachika Ichimura, 63, and An Suzuki, 24, at the British Embassy Tokyo.

They will promote major events, including Queen Elizabeth II’s diamond jubilee and the 2012 London Olympic and Paralympic Games. Next January, Ichimura will perform his stage play Anjin: English Samurai in the UK.

Global Demand for “Made in Britain” Shoes

Following the popularity of British shoes in Japan and other countries, the British Footwear Association (BFA) has teamed up with Pure London, the UK’s largest trade fashion show, to provide an opportunity for new footwear labels to launch their collections at one of the biggest fashion events in the UK, the London Press Service reported on 10 April.

Founded in early 2007, Cocorose London started trading from the city’s trendy East End markets. The firm’s footwear is now stocked throughout the UK, as well as in Japan, Australia and countries of continental Europe. Stockists include exclusive stores, such as Isetan and Fortnum & Mason.

The Ruby Rocks brand, meanwhile, is a mix of vintage and quirky and is one to watch.

About £6bn worth of shoes are sold annually in the UK, with exports worth more than £500mn. The BFA, in its 113th year, represents more than 100 key firms employing 9,000 people.

The UK has an enviable reputation around the globe not only for highgrade men’s welted footwear—such as Church’s, Crockett & Jones, Barker, Cheaney, Tricker’s and John Lobb—but also for lines in which the UK is successfully competing with the Far East, such as Hotter and New Balance.

Pure London takes place in February and August at London Olympia.

PHOTO: RUBY ROCKS

12 | BCCJ ACUMEN | MAY 2012

Ruby Rocks blend vintage and quirky.

Narita Chiefs Visit Stansted

Senior executives from Narita International Airport visited London Stansted Airport for lessons about how the world’s best airport for low-cost airlines operates, Business Weekly reported on 18 April.

They saw how Stansted works with lowcost carriers, such as easyJet and Ryanair to deliver a first class operation, maintain excellent on-time performance and improve the passenger experience.

A Stansted Airport spokesman said that “the Low Cost Carrier (LCC) market is in its infancy in Japan, so the visit provided an ideal opportunity for the Narita team to learn

Change in Global Food Sales

The UK grocery market will be the eighth largest in the world by 2015, while India will displace Japan as the world’s third largest in terms of value, Talking Retail reported on 4 April.

In the same year, according to research, the BRIC nations—Brazil, Russia, India and China—will be among the top-five grocery markets. China has already overtaken the US as the world’s biggest food and grocery retail market, and its grocery sales are expected to triple in value to nearly £1trn by 2015.

Seeds and Tree Donated

Japan donated seeds from six plants that grow in the earthquake and tsunami area to Kew Gardens, and planted a memorial tree there, media reported in April.

A zelkova, the official tree of Miyagi and Fukushima prefectures, was planted in Kew’s Japanese garden. Pupils of schools in both countries who had exchanged letters after the quake attended the event along with the leader of the British international relief team.

Star Plans Top-Tier Move Shinji Kagawa is planning to move from Borussia Dortmund to either Premier League leaders Manchester United or FA Cup finalists Chelsea, it was reported on 3 April by the English-language edition of Bild, Germany’s biggest circulation tabloid. The 23-year-old has scored 12 goals in 25 league games this season.

from the best practices on offer.

“They were particularly impressed with the 25-minute turnaround of Ryanair’s Boeing 737-800 and the facilities available for LCCs to help maintain their high punctuality rates”.

Stansted is firmly established as a world leader at serving the low-cost airline sector and, in 2011, was named Skytrax World’s Best Airport for Low-Cost Airlines.

London’s third-busiest airport, Stansted has a route network stretching to about 150 destinations, offering more direct scheduled European flights than any other airport.

Wake-up Call over Data “Gold Mine” Symbol group retailers—which supply independent grocers and small supermarkets and produce stores—need to get together to collect and analyse information about their customers as did convenience store groups in Japan 10 years ago, when they were being “beaten up” by supermarkets, Talking Retail reported on 9 April.

A leading consultant to the sector was quoted as saying that convenience stores had collaborated on a common system for contactless payments, made use of the data they collected and have since moved from a position of weakness to one of strength.

Collecting, understanding and making use of customer data was “the elephant in the room” within the UK convenience sector, which is “sitting on a gold mine” of customer data, but not making proper use of it. There is a wealth of information available to retailers from their till-roll data, including what type of shopping mission customers are on, how sensitive they are to price and how health-conscious they are, the consultant said. “Every till receipt contains the DNA of the shopper”.

Londoners Lap Up Nitrogen Ice Cream Aki Matsushima caused a stir in MasterChef, the BBC TV competition for amateur cooks, which is watched by millions every week, local media reported in early April.

Matsushima, 25, used skills developed while studying for a doctorate in quantum physics at the University of London to add very cold liquid nitrogen to her miso ice cream to make it smoother. It went down a treat and she has enjoyed subsequent fame.

Inspired by her homeland, she has since designed ice creams in collaboration with Gino Gelato—featuring kinako (soya bean flour) and molasses, wasabi and chocolate, plum wine honey sorbet, red miso and caramel, white miso and walnut, and green tea-flavoured white chocolate stracciatella (the name given the chocolate shavings in an Italian ice cream).

She told reporters that, when you add nitrogen to ice cream, it evaporates and creates a white mist, which quickly cools the mixture and creates smaller ice crystals that make the texture smoother.

Matsushima is now creating ready-to-eat Japanese meals. She lives in London with her parents, who own a Japanese restaurant.

MAY 2012 | BCCJ ACUMEN | 13

14 | BCCJ ACUMEN | MAY 2012

PRESIDENT

New Year, New Face for BCCJ

W

elcome to a new BCCJ year—and from a new face on the president’s page. It is both an honour and a privilege to have the opportunity to serve you, the members, as president of the BCCJ for the 2012–13 chamber year.

My first words should be to thank my predecessor, Philip T Gibb, for all his work as president of the BCCJ over the past two years. During that time, the chamber saw dramatic changes, with the first new executive director in almost a quarter of a century and a new website.

This period also has been marked by one of the most devastating disasters of modern times, and the way the BCCJ, under Phil’s leadership and in close cooperation with the British Embassy Tokyo, responded to these events has only increased my pride to be a member of this group. So, Phil, I believe I speak for the chamber at large when I say “thank you” for all you have done.

As I move into my new role, what can I say about the BCCJ that I see before me?

First, let me say that I believe the state of the chamber is strong. Membership has strengthened over the past year and we will continue to seek new members.

I believe that it is through communion with other members that we accrue the greatest benefits from the chamber, and so I hope we can continue to expand the membership in order to provide the best opportunities for networking.

Second, last year saw a repositioning and strengthening of our events programme in terms of both quality and diversity of subjects. I am confident we can continue to offer the range and level of speaker events that capture your imagination and interest, so I encourage you to attend and enjoy even more membership benefits.

When renewing your membership, don’t forget about the free online coupons that are now available, and please do take part in chamber programmes.

Third, from looking at our CSR activities,

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it is clear the events of 11 March 2011 made us focus our attention on the plight of the many strong and resilient individuals and communities that were most affected by the devastation that day. As we move into the 2012–13 chamber year, the BCCJ will strive to provide opportunities for involvement in CSR activities to members but, above all, to those members working at SMEs that may not otherwise have the scale to arrange such opportunities.

Fourth, … Actually, no. That is quite enough from me. What do you want from your membership? The chamber is blessed with a very strong executive committee and secretariat, so I would ask you to reach out and let us know what you would like from us, and how you would like to be involved. I look forward to sharing the next year’s adventures with you.

Nick Walters BCCJ President

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MEDIA

WHAT YOU MISSED IN THE JAPANESE PRESS

BY MARK SCHREIBER

How the Rich Spend Too Much

PHOTOS: CENTRAL NIPPON EXPRESSWAY COMPANY LIMITED

New Motorway Drives Shopping Spree The opening of a 162km stretch of the new Tomei motorway—that runs parallel to the old Tomei motorway—will not only reduce traffic congestion, particularly during holiday periods such as Golden Week, but also is expected to put motorists in a better mood to shop.

The Sankei Shimbun (15 April) reports that the new NEOPASA parking and service area in Numazu City, Shizuoka Prefecture, will eventually boast 121 outlets, including shops selling food, groceries, clothing and sundries.

16 | BCCJ ACUMEN | MAY 2012

The complex will also be accessible to vehicles using local roads.

The entire motorway, to be completed in 2020, has 92km to go. However, land requisitions for the Gotemba–Isehara and Yokohama–Tokyo segments remain a sticking point. Another concern is that, should toll revenues fall short of projections made in 1987—when the project was originally drawn up—the operators may be forced to increase the tolls.

After the 11 March earthquake last year, a certain Mr A, a 42-year-old mid-level executive at an ad agency, found cracks in the walls of his house. A contractor gave him an estimate of ¥3mn for repairs. He didn’t have the money nor did his 39-year-old wife—this despite their being a childless couple with a combined annual income of ¥16mn.

In fact, reports Nikkan Gendai (26 April), the couple’s personal savings were nonexistent.

“When we bought the house five years ago, we put down ¥3mn (¥1.5mn each) as a deposit”, he tells the popular daily. “I’ve been making mortgage payments of ¥150,000, and my wife pays for utilities and food. Whatever’s left after that, we each spend as we see fit”.

At one time, couples with a double income and no children were considered the aristocrats of middle-class consumers.

But, according to financial planner Yoko Hanawa, the greater these couples’ disposable incomes, the more they tend to spend, maxing out their credit cards on bigticket purchases.

Their work keeps them busy, so Mr A and his missus mostly eat out. They often take work home, and keep the air-conditioning running around the clock, some months pushing their electric bill to ¥30,000. Then their communication outlays, for mobile phones and internet access, run over ¥50,000 per month. And on weekends, instead of going to the local greengrocer, they shop at the upscale and convenient Seijo Ishii supermarket. To cap it all, since doing the laundry is too much bother, they use the dry cleaners.

Mr A is often obliged to entertain clients out of his own pocket and his fashionconscious wife, an editor, often buys haute couture outfits costing several hundred thousand yen.

“Compared with households in which the wife stays home, couples with a double income and no children tend to engage in a lot of wasteful consumption”, says financial planner Hanawa. “In many cases, they are unable to grasp the size of their combined incomes, and fail to take precautions until they’re on the verge of going bankrupt. By contrast, fulltime homemakers have an awareness of their outlays and savings, and so do a surprisingly good job of accumulating savings”.

MEDIA

E-Business Variety for Consumers Spurs Sales Over the past half decade, reports Shukan Economist (10 April), e-commerce transactions in Japan doubled, reaching a total value of ¥7.8trn in 2010. Following the 11 March, 2011 earthquake and tsunami, disaster-related products enjoyed particularly high demand, with sales via internet service firm Rakuten alone posting a six-fold rise between March and August.

Pushing sales growth is greater user convenience. Amazon.co.jp, the industry leader with annual sales of ¥3.9trn— an increase of 21.9% over 2010—now has nine distribution centres around Japan, and expects to add two more this year. Amazon Japan’s display of product availability and delivery times, as well as its free delivery and a database system that makes recommendations to purchasers are also factors behind the growth.

Online sales have made strides in specifying the origin of goods, which has helped consumers who, for example, seek food products from western Japan, less likely to have been affected by post-earthquake nuclear plantrelated radioactivity.

Another factor supporting sales growth is Japan’s growing number of kaimono nanmin (shopping refugees), particularly the elderly without a car or easy access to shops.

The more widespread utilisation of smartphones and tablet computers, as well as the popularity of short message services (SMSs), such as Twitter and Facebook, are also contributing to expanded sales.

According to a November 2011 survey by the Japan Direct Marketing Association, mobile devices accounted for 24.3% of the total, a year-on-year rise of about 4%. At the end of November, Chibabased Start Today Co., Ltd. had reached— via Twitter—some 400,000 people, of whom 60,000 signed on as customers. The firm also has 300,000 followers.

Spilling the Beans on New Konbini Trend A market research firm once estimated the average Tokyo resident lived 4.5 minutes’ walk from the nearest convenience store.

Currently, in Japan there are more than 45,000 such outlets, not only selling food and sundries, but also providing a variety of financial and other services, such as the shipping and picking up of parcels.

Now these shops are gearing up to dispense gourmet coffee. Nikkei Marketing Journal (20 April) reports that, by February 2013, there will be a 2.5-fold increase in the number of Lawson outlets selling coffee by the cup.

The firm has tied up with Mitsubishi Corporation, which procures coffee from Brazil and other countries. Later this year, rival chains, including Seven-Eleven, Circle K Sunkus, Mini Stop and Family Mart plan to introduce new coffee and related products.

But, with the exception of those at Lawson shops, most coffee sales will involve selfservice machines.

Many convenience stores in office areas have found that, by moving coffee together with sweet rolls and other breakfast items, they can sell more than 100 cups of coffee a day.

Lawson has developed a line of 22 baked goods priced at between ¥100 and ¥180 that, combined with coffee beverages, are sold as machi café. The targeted customers, females in their thirties and forties, previously did not typically purchase coffee at such outlets.

But coffee aside, when the Asahi Shimbun’s “be between” online survey of 7 April asked 3,848 people if they considered konbini absolutely essential, the nays (53%) outnumbered the yeas (47%).

The main areas of dissatisfaction with konbini, as stated by those who regularly patronise them, were high prices (2,010 responses). Other complaints include that there is no need for round-the-clock operation (1,669); poor product selection (518); stores are unappealing (297); not located close by (266); and that they cause a decline in public safety (249). Another 131 people complained that the stores were malodorous, no doubt a reference to the trough serving oden (hodgepodge items kept simmering in fish broth).

It is clear, though, that konbini have many fans. “Now you can transfer money using their ATMs, which operate every day, including on weekends and holidays. I suppose that, in the future, they will become increasingly essential. I couldn’t do without them”, said a 65-year-old Tokyo woman.

PHOTOS: LAWSON INC.

MAY 2012 | BCCJ ACUMEN | 17

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EXECUTIVE DIRECTOR

Meet Your Executive Committee

A

t the BCCJ annual general meeting on 26 April, attendees elected a new executive committee, comprising 15 members (whose names can be found on page 6), to serve the membership during the 2012–13 chamber year.

The committee meets every month at the British Embassy Tokyo’s Number 4 House, by kind permission of our ex-officio member Sue Kinoshita, director of UK Trade & Investment. There the team agree organisational policy, discuss general BCCJ business, and review progress in promoting the interests of all members.

Certain executive committee members take responsibility for specific areas of BCCJ growth and development, and this often includes heading a task force charged with specific objectives, such as events, communication, legal issues, finance, CSR, the European Business Council, and the British Business Awards (BBA).

More generally, team members are asked to attend and host as many BCCJ events as possible (40 were held in 2011– 12) to mix with guests, help everyone feel welcome, and solicit feedback on the BCCJ. The secretariat welcomes feedback and encourages members to

familiarise themselves with executive committee representatives, in order to express thoughts and opinions that will lead us to providing the highest levels of service for the membership at large.

Executive committee members are, essentially, ambassadors for the BCCJ. They introduce new members, invite guests to events, and support organisational goals.

You will be hearing more from individual members of this 2012–13 committee in subsequent issues of ACUMEN. Should you have any questions for executive committee members, please email: info@bccjapan.com.

2012 British Business Awards In response to feedback over the years from the executive committee, for the fifth British Business Awards we will encourage more nominations across all categories, to create even more of a buzz in advance of this headliner event—this year slated for 2 November at the Conrad Tokyo hotel. The more nominees, the more attendees—and the more opportunities for business development for everyone.

YouTube As part of the BCCJ’s communications strategy, we now have our own YouTube

MORE REASONS TO VISIT THE BCCJ ACUMEN WEBSITE

channel, designed to drive traffic to the BCCJ website through search-engine optimisation, and showcase the diversity of our events programme, this year led by Graham Davis of the Economist Group.

A number of videos, including “BCCJ British Business Awards 2011”, have been uploaded. Stay tuned to see more BCCJ member firms featured in the weeks and months ahead.

Steve Crane, chief executive of Business Link Japan K.K., and winner of the Person of the Year prize at the British Business Awards 2011, said recently: “Following on from the BCCJ’s comment about utilising videos to maximise opportunity, there has been a steady flow of viewers to my BBA video (360 so far). Many prospective clients have watched it, and have gone on to do business with us. Since winning the award, I have seen a clear upturn in our sales, which suggests that (a) winning a BBA has a clear, positive effect on business, and (b) capturing the moment and putting it out there on social media is a very good thing!”

Lori Henderson BCCJ Executive Director

bccjacumen.com

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MAY 2012 | BCCJ ACUMEN | 19

DEFENCE

Sweet Deal or Arms Race?

Behind the multi-million pound UK–Japan defence pact

By Julian Ryall

Initial focus on non-lethal gear for crises, peacekeeping, recovery, search and rescue Despite losing Eurofighter bid, UK “alarmed” US rival Everyone happy, except left-leaning local media Potential future deals: helicopters, engines, command-and-control, communications, intelligence-gathering, surveillance, targeting-acquisition and reconnaissance systems

T

he Joint Statement on the UK/ Japan Defence relationship that was agreed during Prime Minister David Cameron’s visit to Tokyo in April has the potential to forge even closer links between Japan and the UK, and generate millions of pounds’ worth of new contracts for British firms, although officials are keen to emphasise that the future growth of exchanges in the defence sphere will be “evolutionary rather than revolutionary”.

In December 2011, the government of Prime Minister Yoshihiro Noda announced that it would further relax its ban on arms exports and that the defence sector here would be looking to work with companies in other countries in the development of equipment.

Tokyo’s re-examination of its defence policies comes after years of rising defence spending by China—particularly in its efforts to develop aircraft carriers and a blue-water naval capability.

Further, Beijing has made no secret of its claim to sovereignty over the Senkaku Islands, at the furthest tip of the Okinawa chain. And, just months after Noda’s announcement, North Korea fired what it claimed was a rocket to put a satellite into orbit. Pretty much every other government has condemned the launch as a test firing of a missile designed to deliver a nuclear warhead.

With the security of north-east Asia potentially volatile, an alliance on cutting-edge defence technology and systems makes a lot of sense to Japan, a British official told BCCJ ACUMEN, while Tokyo also has a great deal

20 | BCCJ ACUMEN | MAY 2012

1

2 PHOTO: ANDY CARGILL, BRITISH ARMY

3 PHOTO: EMMA SOMERFIELD, ROYAL NAVY

of admiration for Britain’s global operational experience.

The visit by Cameron was important to further define the bilateral ties, particularly in the defence field, one source said.

A deeper defence relationship is in the interests of the UK; Japan has very well equipped and well-trained Self Defence Forces which have considerable potential to contribute more to global stability and conflict prevention. In addition, if such a relationship extended to the UK and Japan's defence industries, collaboration would lead to reduced costs and possibly gain access to bigger markets. Japan realises that it must reach beyond the US if it is to take on more global responsibility and the UK, with its military reputation and extensive experience, is a leading role model.

Consequently, Cameron and Noda endorsed the ongoing work on a Defence Cooperation Memorandum which will define this deeper relationship and will be signed off by defence ministers later

this year. A British official said: “We decided that the relationship should be deepened because Japan has a very well equipped and trained Self-Defence Forces, but Japan also knows that it would be natural for it to have a range of relationships in the defence field and perhaps the most natural partner would be the UK, given our shared perspectives and close relationship”.

And even though the bid was not ultimately successful, the impressive campaign that was waged by Britain’s industry and the British government to convince Japan to purchase the Eurofighter Typhoon as its nextgeneration interceptor has served both to demonstrate British expertise, and build the network of contracts that defence firms require for future collaborative efforts.

A diplomatic source said the Eurofighter campaign means that Britain is “now taken very seriously indeed”. He added that, even though the Japanese government eventually chose the Lockheed Martin F-35, the British

DEFENCE

History of UK–Japan Military ties

4

PHOTO: J MASSEY, ROYAL NAVY

5

PHOTO: RUSS NOLAN, ARMY

bid “alarmed” the US firm, which had been considered the clear favourite at the outset.

But British defence officials are keen to emphasise that initial projects will focus on the development of nonlethal equipment that can be used in humanitarian crises, peacekeeping operations, disaster recovery efforts and search-and-rescue operations.

These might include the development of body armour, an area in which British firms lead the world; systems that enable troops to detect and identify nuclear, biological or chemical contamination together with the equipment to work in those environments; and the technology to detect and destroy land and sea mines.

Down the line, development efforts are likely to evolve into larger joint projects, given that Japan and Britain share many objectives in the areas of international security, peacekeeping operations and foreign policy in general.

Sources dismissed media reports that, when signed, the agreement will lead to

Britain worked closely with the emerging Japanese military in the early decades of the 1900s, and that legacy can still be seen today. The pre-Dreadnought battleship Mikasa, for example, was launched in 1900

by Vickers at Barrow-in-Furness port, and served as the flagship of Admiral Heihachiro Togo’s fleet when the Imperial Japanese Navy defeated Russian forces in the Battle of Tsushima in May 1905. Today, it is preserved as a museum in Yokosuka.

After the inevitable hiatus in Japan’s military development in the years after World War II, Tokyo in 1967 imposed a policy of not permitting its domestic defence sector to export weapons to communist-bloc states, to regimes that were under a United Nations embargo, or to those at war or considered likely to go to war in the near future.

The interpretation of the policy was altered in 1976 to effectively ban all weapons exports, but was eased again in 1985 to permit Japanese firms to work with US firms on the development of weapons systems.

1. The Rolls-Royce Trent 1000 engine powers the Boeing 787 Dreamliner.

2. Bomb disposal robot used in Afghanistan.

3. A Royal Navy Search and Rescue Sea King performs winching exercises.

4. Sources deny the Royal Navy’s nuclear-powered Astuteclass submarines will patrol the region.

5. The Land Rover Snatch-Vixen is an army favourite.

Richard Thornley: mutual value for Rolls-Royce and Japan.

the regular deployment of Royal Navy hunter-killer submarines in the region.

Similarly, they added, reports that Japan is going to purchase Britishdesigned Future Combat Ships, at £300mn each, are also wide of the mark.

The bilateral agreement has given the joint research and discussions “new traction” by drawing renewed attention to ongoing work, such as that at the Defence Science and Technology Laboratory at Porton Down, and at the Japanese military’s Technical Research and Development Institute.

Four British firms at the forefront of the global defence industry have already established links with Japanese enterprises. First is Thales UK, which provides armed forces with technology that includes command-and-control structures, communications and computer facilities, and systems for intelligencegathering, surveillance, targeting acquisition and reconnaissance.

Second is BAE Systems, which was disappointed that it had lost out on the Eurofighter deal, but has informed Tokyo that it is ready and willing to step in again if the much-publicised cost increases for the F-35 programme mean it is no longer viable for Japan.

Third is Anglo-Italian firm AgustaWestland, globally renowned for its helicopter technology. And Rolls Royce, the fourth UK firm with an acknowledged place in the business of global defence, has been active in the Japanese market for 22 years.

“The relaxation of the so-called three Ps had been anticipated by industry, but it took a long time for the Japanese government to actually announce it”, according to Richard Thornley (pictured left), president of Rolls-Royce Japan.

“It was quite sensitive, but when it was announced in December, it was good news.

“Rolls-Royce is already collaborating with Japanese partners such as Mitsubishi Heavy Industries and Kawasaki Heavy Industries on several programmes, including the new Trent 1000 engines on the Boeing 787.

“We have 22 years of partnering with these companies in the civil space and it would be relatively easy to duplicate that in the defence space”, he said.

MAY 2012 | BCCJ ACUMEN | 21

DEFENCE

Hawk Protection, of Northern Ireland, makes body armour.

PHOTO: ANDREW LINNET, ARMY

“We believe this sort of collaboration will bring about a mutual win-win situation and give the Japanese taxpayer even better value for money”.

The alliance has not been met with universal acclaim, however, with the left-leaning Asahi Shimbun vernacular newspaper stating, in an editorial on 13 April, that the ban on the export of weapons should be reimposed.

“Mr Noda’s decision, this time with Britain, is highly regrettable”, the paper said. “In view of the possibility that jointly developed weapons will be used in military conflict, it is a betrayal of the principle and spirit of the warrenouncing Constitution.

“It is logical to think that Britain wants to export helicopters equipped with an engine jointly developed with Japan”,

1

it added. “But the possibility cannot be ruled out that the helicopters will be equipped with weapons.

“One wonders whether the Japanese government has given serious thought to a situation in which weapons exports lead to an arms race between two parties, thus increasing tensions and, in a worst-case scenario, give rise to a military conflict”.

The editorial concluded that Japan’s “self-restraint on weapons exports has gained it trust in the international community”.

Over the past nine years, 82 Japanese firms with defence contracts have either gone bankrupt or withdrawn from the sector, and defence budgets have declined for 10 consecutive years.

The ability to sell defence devices

and systems overseas would give the sector—and the entire national economy— a boost.

From the British point of view, the relationship with Japan is “overall positive and consistently so across the board”, an embassy spokesman said.

“Our foreign policy is similar to that of Japan, we cooperate economically and have strong links in business and trade”, he said.

“Those are all important.

A close and productive trade relationship on the defence side would just be a natural part of that broader relationship”.

The Manportable Chemical Agent Detector, made by UK-based Smiths Detection.

PHOTO: MARTIN JONES, MoD

“Our foreign policy is similar to that of Japan, we cooperate economically and have strong links in business and trade”.

1. Eurofighter Typhoons from RAF Coningsby in Lincoln.

2. Humanitarian aid to Pakistan after floods in 2010.

22 | BCCJ ACUMEN | MAY 2012

2 PHOTO: ASHLEY KEATES, RAF

TAX

UK is “Open for Business” Government wants investment, growth and jobs

By Kingsley Kemish Ernst & Young Shinnihon Tax

O

n 21 March, the House of Commons was presented with the government’s budget proposals. They continued the clear message that Britain is open for business.

The stated aim of the government is to have the most competitive tax regime among the 20 major economies represented by the Group of Twenty Finance Ministers and Central Bank Governors (G-20), and this seems to be becoming a reality.

The most significant changes to the UK corporate tax system, introduced over the past few years or soon due to come into force, include the following.

• Continued reduction in the main rate of corporation tax to 22% from 1 April 2014, the lowest among the Group of Seven (G-7) and the fourth lowest among the G-20 nations. The rate is now 24% and was 30% before April 2008.

• Introduction (from 1 April 2013) of an enhancement to the already attractive R&D tax incentive, changing it to an “above the line” credit, which should be repayable for loss-making companies.

The incentive will offset directly the cost of undertaking R&D (rather than be a reduction of the tax charge), as requested by business.

• A Patent Box regime (from 1 April 2013), whereby qualifying Patent Box profits will be taxed at a significantly reduced rate of 10%, to encourage development and exploitation of patents and other intellectual property.

• An exemption system for dividends received by UK companies, and gains made by UK companies on the sale of substantial shareholdings in trading companies.

• An elective exemption system for overseas activities of UK companies (overseas branches) and a reformed Controlled Foreign Company (CFC) regime that will only tax profits artificially diverted from the UK. These changes have resulted in the tax system becoming more territorial and making the UK an attractive

location for regional holding companies, acquisition companies and publicly listed parent companies.

The UK also has a number of longstanding attractive features, including being the G-20 country with the most double-tax treaties and the absence of a withholding tax on dividends paid by a UK company.

The authorities have also changed their attitude towards interaction with business. Over the past few years, a more collaborative approach to formulating and enforcing tax legislation has been introduced. This is evidenced by the

early publication of draft legislation and multiple consultations on significant new legislation (e.g. the Patent Box).

Japanese businesses have been involved in the recent consultations and, as a result, particular requirements of Japanese groups have been taken into account in the design of legislation. The UK tax authorities are now much more willing to discuss issues with businesses and to provide certainty in advance regarding tax concerns, particularly when companies are considering moving activities or investment to the UK. As a result of the changes to the tax system, the UK has become a more attractive location for high tech businesses, including many Japanese companies. The combination of the reduced main corporation tax rate, Patent Box and R&D incentive means that hightech companies can achieve an effective tax rate of about 10–15%. The implications of this on the Japanese CFC regime rules need to be considered, but should be manageable if there is significant business activity in the UK. Therefore, the UK could be a low-tax principal, R&D hub or management centre in the same way as Ireland, Switzerland and the Netherlands have been in the past. When combined with the various long-standing features—highly skilled labour force, European financial centre, stable legal framework, central time zone, use of the English language, etc.— the UK is a very attractive investment location for Japanese and other international businesses.

Time will tell whether these measures will have the desired effect of attracting investment, generating growth and jobs. However, the initial signs are good with a number of announcements of increased investment, particularly by Japanese businesses.

The message from the government seems to be clear: the UK is an attractive place to undertake business and the government will do all it can, even in the current tough economic times, to further invigorate innovative activity.

The views in this article are the author’s and do not necessarily reflect those of Ernst & Young or its member companies.

MAY 2012 | BCCJ ACUMEN | 23

POLITICS

PHOTO: THE PRIME MINISTER’S OFFICE

Joint Statement by the Prime Ministers of the UK and Japan: A Leading Strategic Partnership for Global Prosperity and Security

Prime Ministers David Cameron and Yoshihiko Noda met in Tokyo on 10 April.

A

s the Prime Ministers of Japan and the UK, we are committed to promoting global prosperity and security, based on the shared values of democracy, the rule of law, human rights and the market economy. We also have a shared responsibility to meet the global challenges of the 21st century.

We reconfirm the distinctive importance of the leading strategic partnership that exists between the UK and Japan.

Japan and the UK are each other’s most important partners in Asia and Europe, respectively.

We commend the resilience of the Japanese people after the Great East Japan

24 | BCCJ ACUMEN | MAY 2012

Earthquake and tsunami of 11 March 2011 and subsequent nuclear accident. The strength demonstrated by the people of Japan in the face of such hardship gives both leaders confidence in Japan’s renewal through reconstruction and that Japan will continue to contribute as strongly as ever to international prosperity and security.

Japan appreciates the support and solidarity extended by the British people, companies and government in recovering from the tragic events.

The UK appreciates Japan’s hosting of the High-Level International Conference on Large-Scale Natural Disasters in July in the disaster-stricken Tohoku area.

Recognising the importance of ties

among the people of both countries, we reaffirm the valuable contribution which the JET (Japan Exchange and Teaching) programme and the Youth Mobility Scheme have been making to our bilateral relationship. We will cooperate to increase the number of students going in both directions through such schemes as a new one managed by the British Council, which will enhance research collaboration, mobility and skills among universities in the UK and Japan.

We renew our support for the Japan-UK 21st Century Group, an important annual forum consisting of prominent people in a range of fields.

We hope that the London Olympic and

POLITICS Paralympic Games will be a great success, serving as an excellent opportunity to further deepen the bonds between Japan and the UK. Hosting the Olympics is an opportunity to realise sporting hopes and dreams, and the UK wishes Tokyo well in its bid to host the 2020 Olympic and Paralympic Games.

Building Global Economic and Social Prosperity

the UK and Japan will stimulate our economies, provide employment for our people, drive innovation and enhance competitiveness.

It is therefore imperative to maintain, seek out and develop further all areas of potential economic growth between our countries. We are committed to offering a positive business environment that encourages business flows in both directions.

Based on the recognition that economic and social prosperity helps to promote peace and security, the global economy has shown encouraging signs of recovery, but significant downside risks remain.

The potential for further oil price rises is a concern for governments around the world. We reiterate our commitment to strengthen our cooperation in the existing frameworks of the global economy, including the G8, G20, IMF and WTO. We welcome the continued implementation of the G20’s Cannes Action Plan for growth and jobs, which established significant commitments towards achieving our goal of strong, sustainable and balanced growth.

We will also work together to develop a Los Cabos Action Plan. For our part, the Japanese and British governments are committed to taking the necessary steps to ensure sustainable public finances, secure growth and reform financial regulation.

We welcome the progress made by the eurozone countries in stabilising the European financial situations, including the recent decision to strengthen the European firewall.

Japan and the UK will work closely with our international partners on the issue of IMF resource increase. We share the view that additional resources should be for the use of the whole global community based on appropriate conditionalities.

Despite the impasse reached in the Doha Development Agenda negotiations, and in line with the outcome of the Eighth Ministerial Conference in December 2011, we remain committed to concluding multilateral trade negotiations on the most advanced elements of the DDA, while looking at alternative approaches to achieving trade liberalisation.

These could include coalitions of the willing, so those countries that want to can forge ahead with more ambitious deals of their own, consistent with the WTO framework.

We also reaffirm our commitment to avoiding protectionism made at the G20 Cannes Summit.

Our two countries have enjoyed a long and successful economic partnership.

Further trade and investment between

e reaffirm our commitment to launching the Japan-EU Economic Partnership Agreement (EPA) negotiations at the Japan-EU summit this year and its early conclusion, which is mutually beneficial to Japan and the EU by expanding trade and investment.

We share views on the importance of achieving a truly comprehensive agreement addressing all issues of shared interest to both sides, including tariffs, non-tariff measures, services, investment, intellectual property rights, competition and government/public procurement.

The UK welcomes Japan’s efforts to tackle regulatory and institutional reforms under the prime minister’s leadership.

Japan appreciates the UK’s strong support, led by the prime minister, for the opening of negotiations on the Japan-EU EPA. A stable, safe, affordable and lowcarbon supply of energy in a world of diminishing resources and increasing energy demand is vital for economic growth and for avoiding catastrophic global climate change. Our cooperation in international fora, such as the G8, IEA (International Energy Agency), IEF (International Energy Forum) and IRENA (International Renewable Energy Agency) will continue to play a valuable role in addressing global energy security and climate change issues.

We will continue to discuss energy issues, such as clean energy and energy security, in the annual Japan–UK Energy Dialogue.

We are committed to taking urgent action to meet the long-term goal of reducing global green house gas emissions so as to hold the increase in global average temperature below 2°C above pre-industrial levels.

We welcome the outcome of the [Conference of the Parties (COP17) to the United Nations Framework Convention on Climate Change (UNFCCC)], especially the establishment of the Ad Hoc Working Group on the Durban Platform for Enhanced Action, and are resolved to work together towards the ultimate

W

goal of establishing a fair, effective and legally binding international framework applicable to all parties.

Japan and the UK have enjoyed successful civil nuclear co-operation for more than 50 years. Following the accidents at the Tokyo Electric Power Company’s Fukushima Dai-ichi Nuclear Power Plant, we warmly welcome the High-Level Symposium on Nuclear Cooperation held on 10 April 2012 in Tokyo.

We will also work for the success of the Fukushima Ministerial Conference on Nuclear Safety in December this year. The attachment to this statement underlines the importance of our civil nuclear co-operation and reaffirms our intention to work closely together in enhancing nuclear safety and regulation, sharing experience and expertise in decommissioning, decontamination and managing spent fuel.

Following the establishment of the new Global Partnership for Effective Development Co-operation, Japan and the UK will continue to work together with developing-country partners, emerging economies, the private sector, civil society organisations and others to achieve lasting development results.

We recognise the importance of accelerating progress towards the achievement of the MDGs (Millennium Development Goals) and beyond, taking into account the outcomes of the MDGs Follow-up Meeting held in Tokyo in June 2011. We will also collaborate closely in the lead up to the Fifth Tokyo International Conference on African Development (TICAD V) and the UK’s G8 presidency in 2013.

The UK and Japan are world leaders in the fields of science, technology and innovation. We will work together on basic research, development of new technologies, and increasing economic competitiveness. Recognising the contribution of science to addressing global issues and the importance of providing a first-class science education, we will increase efforts to step up joint research in the fields of climate change, sustainable energy technologies and life sciences, as decided at the UK–Japan Joint Committee on Cooperation in Science and Technology in November 2011.

We recognise the immense benefits to world prosperity from the growth in the use of cyberspace and the importance of protecting global security as well as the free flow of information.

We emphasise the need for states, the private sector and civil society to work together to secure these benefits. We

MAY 2012 | BCCJ ACUMEN | 25

POLITICS will strengthen bilateral consultations on issues related to cyberspace and cooperate internationally to take forward the conclusion of the London Conference on Cyberspace in November 2011.

Promoting Global Peace and Security Sharing the view that a stable security environment is conducive to social and economic prosperity, East Asia is becoming increasingly important, and its stability is vital to our prosperity and security. We will cooperate on and address the issues of instability and uncertainty in East Asia.

In particular, we emphasise that North Korea under its new leadership must abandon all nuclear weapons and existing nuclear programmes as well as its ballistic missile programmes in accordance with relevant UNSC resolutions and the 2005 Six-Party Talks Joint Statement.

In this context, we share deep concern over North Korea’s announcement of the launch of a missile, which would violate the relevant UNSC Resolutions, and strongly urge North Korea’s restraint.

We also reiterate that North Korea must address the humanitarian concerns of the international community, including the abduction issue.

Recognising the rise of China as an opportunity, we stress the importance of working with China as a responsible and constructive partner in this region and the international community.

Welcoming the recent positive developments in Myanmar/Burma, including notably the by-elections on 1 April, we encourage its government to further strengthen its efforts towards democratic reform and national reconciliation, and call upon the international community to support these efforts.

The ongoing programmes in Afghanistan and the anti-piracy operations off the coast of Somalia demonstrate the effectiveness of Japan and the UK cooperating to enhance global security.

Japan welcomes the 23 February London Conference on Somalia and the two countries will work together to support the conference outcomes.

The UK welcomes Japan’s initiative to host a ministerial conference on Afghanistan in Tokyo in July 2012, which will be an important opportunity for the international community and Afghanistan to demonstrate mutual longterm commitments to Afghanistan’s sustainable economic development and improvement of governance.

The UK and Japan share the objective of

26 | BCCJ ACUMEN | MAY 2012

seeing Sudan and South Sudan peacefully resolve their outstanding areas of difference, in order that their people can build stable and prosperous futures.

We highly value the historic moves towards democracy in the Middle East and North Africa, which could lead to stability and prosperity in the region. We will support the ongoing efforts for reform in the region, which will help to build more open societies and to alleviate socioeconomic problems. We also reaffirm our commitment to ensuring effective support through the Deauville Partnership.

We condemn in the strongest terms the Syrian regime’s brutal actions which have led to the deaths of thousands of innocent civilians, and express strong concern about the deteriorating humanitarian situation.

We support the joint UN–Arab League envoy, Kofi Annan, in his efforts to deliver a political solution. We call on the Syrian government to cease immediately all forms of violence, and allow free and unimpeded access by the UN and humanitarian agencies.

Against the backdrop of the historic transition in the region, achieving Middle East peace, under which Israel and a future independent Palestinian state live side by side in peace, is more urgent than ever.

In this connection, we are deeply concerned about the current stalling of direct negotiations, request that both sides refrain from any provocative steps, including on settlements, and strongly hope for immediate resumption.

We are deeply concerned about Iran’s nuclear programme and persistent failure to comply with the relevant UNSC and IAEA resolutions, and therefore call upon Iran to do so without delay.

While we hope that dialogue with Iran will deliver real progress, we will continue to work together with the international community to increase effective pressure on Iran to change its approach.

We reiterate our commitment to strengthening the international disarmament and non-proliferation regime based on the NPT (Treaty on the Non-Proliferation of Nuclear Weapons) and relevant multilateral efforts. We are cooperating to take forward the outcomes of the 2010 NPT Review Conference towards the next conference in 2015.

We also reaffirm our cooperation to create an effective treaty at the UN Conference on the Arms Trade Treaty this year.

We share the sense of urgency for UN Security Council reform. The UK supports Japan’s permanent membership in the

Council and Japan appreciates this continuous support. We confirm our further cooperation for reform.

We also confirm that our commitment to universally agreed principles of international law, including UNCLOS (United Nations Convention on the Law of the Sea), the freedom and safety of navigation, and peaceful settlement of disputes, which serve the interests of our two countries and the international community in the field of maritime affairs.

Reflecting the increased cooperation and engagement in the field of security and defence between the UK and Japan, we have decided: • to launch a foreign minister-led “Strategic Dialogue” with a view to sharing assessments and strategic views on the regional and international environment; • to start negotiations on a governmentto-government information-security agreement; • to endorse defence ministers signing the Defence Cooperation Memorandum at the next opportunity; • to build on the signature of this memorandum and defence engagement—such as in research collaboration—by identifying new areas of cooperation; • to identify a range of appropriate defence equipment for joint development and production, that can be carried out in accordance with Japan’s 2011 “Guidelines for Overseas Transfer of Defence Equipment etc.”, which contributes to both countries’ security and presents industrial opportunities; • to seek to launch at least one programme of such defence equipment as soon as possible, and explore the feasibility of a future major programme that will also contribute to both our countries’ security and peaceful intent; • to consider appropriate government-togovernment arrangements which will ensure strict control of third-country transfer and of extra-purpose use of defence equipment; and • to explore ways to further strengthen our security and defence cooperation, including joint exercises, training and unit-to-unit affiliations.

Building on the initiative shown by the two prime ministers, Japan and the UK will deepen the existing dialogues between relevant ministers and senior officials, to address the above-mentioned issues in a joint effort to promote international prosperity and security.

POLITICS Japan–UK Framework on Civil Nuclear Co-operation (Attachment to the Joint Statement of the Prime Ministers of Japan and the UK) Following the accident at the Tokyo Electric Power Company’s Fukushima Dai-ichi Nuclear Power Plant, Japan appreciates the UK’s heartfelt assistance and measured response. As an increasing number of countries around the world are expressing interest in civil nuclear energy to reduce carbon emissions and provide low-cost, secure energy supplies that can contribute to sustainable energy, the UK expects Japan to continue to play an important role in nuclear safety, non-proliferation and peaceful use of nuclear energy globally.

Japanese companies’ technical expertise in new-plant design and construction, and the UK’s decommissioning and wastemanagement experience and technology, make civil nuclear co-operation particularly mutually beneficial.

Japan and the UK emphasise the importance of continuous efforts to enhance nuclear safety. Both countries reaffirm their commitment to working closely with the international community through the IAEA in further improving nuclear safety standards domestically and globally.

In this context, Japan and the UK welcome the endorsement of the Action Plan on Nuclear Safety at the IAEA General Conference, and express their commitment to ensure full and effective implementation of the plan, including for the regular, systematic peer review of nuclear installations.

Japan and the UK will work for the success of the Fukushima Ministerial Conference on Nuclear Safety, to be held

by Japan in co-sponsorship with the IAEA in December this year.

Based on their long-standing nuclear experience and expertise, and a history of co-operation in civil nuclear power going back to the 1960s, Japan and the UK will work closely to share experience in the areas of nuclear safety and regulation through contact between the two countries’ nuclear regulatory authorities.

The UK welcomes Japan’s ongoing effort to create a new regulatory body, which fully takes into consideration the importance of independent, competent and rigorous regulation of nuclear safety, and of enhanced emergency preparedness, according to the principles of continuous improvement and transparency, and in line with IAEA safety standards.

To better address issues related to the Fukushima Dai-ichi Nuclear Power Plant, Japan and the UK affirm their intention to share expertise, experience and technology in remediation, decontamination and decommissioning.

This co-operation may include visits in both directions by officials, experts, operators and company representatives from relevant nuclear-related agencies, organisations and companies from both countries.

Japan and the UK reaffirm their intention to continue working together in effectively managing nuclear resources.

They reaffirm their commitments made in the 1998 Japan–UK Agreement for Cooperation in the Peaceful Uses of Nuclear Energy. Japan and the UK will continue to share experience, expertise and potential technology in spent fuel management, international transport of nuclear materials, and other areas related to the nuclear fuel cycle.

Japan and the UK have decided to launch an annual dialogue at senior level (director or above) to strengthen bilateral co-operation across the full range of civil nuclear activities. The dialogue will be held alternately in Japan and the UK, with the first meeting in Tokyo.

MAY 2012 | BCCJ ACUMEN | 27

ENTREPRENEUR

Life in the Slow Lane Oh, they do like to be beside the seaside

“For us, there’s a reason that we come [to Okinawa] and choose to make it home”.

By Julian Ryall

Dojo Bar where karate was born Party planner for creative types Travel photographer snaps people

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t’s a long way from the bright lights of Tokyo, but the Britons who are making their mark on the business community in Japan’s most southerly prefecture are adamant that they would not swap their beaches, balmy air and bougainvillea for all the neon in Shibuya.

And there are many advantages to living, working and raising families in Okinawa, they say.

The pump on the counter dispenses Bass Pale Ale, bottles of Baileys and Gilbey’s Gin are on the back shelves and James Pankiewicz mixes a perfect Pimm’s at the Dojo Bar. It only opened last September, but has quickly built up a loyal following in the world of martial arts.

“There are not too many Brits on the island, but those who are here do some interesting things and are invested in being connected to the local community and making the most of their lives here”, said Pankiewicz, 39, who is originally from Bridgwater in Somerset.

“Brits don’t have an accidental route to ending up in Okinawa, not like many Americans who are posted here and then stay”, he said. “For us, there’s a reason that we come here and choose to make it home”.

A graduate of the University of London’s School of Oriental and African Studies, Pankiewicz first came to Japan 15 years ago and studied in Osaka for two years, where he met his Okinawan wife, Hisano. After a decade working in information technology consulting in London, he moved to Okinawa in August 2009 and joined his in-laws’ firm.

The Jahana family is the only one still making the traditional kippan tougan sweets that were served at the court of the Ryukyu kings 300 years ago.

And while Pankiewicz enjoys cooking and says his time with the firm was rewarding, his passion is karate.

“Okinawa has a rich culture, particularly in the area of arts such as dance and karate. But it is not always

Karate black belt and bar owner James Pankiewicz, from Somerset, also trains in kabudo.

accessible”, he said. “I wanted to make a place where people who wanted to could find elements of Okinawan culture—and it helps that a lot of karate sensei also like to come here to drink, so we can bring them and interested people together”.

The Dojo Bar has become a meeting place for homegrown experts and visitors drawn to the birthplace of the discipline.

“The karate community around the world is huge—it numbers in the millions—and many of the most dedicated come to Okinawa to learn from the best”.

And demand is growing for Pankiewicz to act as a link between Okinawa and the rest of the world, with the bar’s Facebook page expanding rapidly, word-of-mouth recommendations helping to establish the name, and visitors requesting trips to such destinations as the Orion beer factory in the north of the island.

But Pankiewicz makes sure that he puts in his own karate training three or four times a week. A black belt in several styles of karate, he has also started training in kabudo, the use of traditional Okinawan

Hampstead-born Louise Miura plans themed parties for networking and fun.

PHOTOS: CHRIS WILLSON

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ENTREPRENEUR

weapons, including truncheons and staffs—some of which decorate the walls of the bar.

“And no matter how much I train and how good I get, I know that there is always going to be someone on Okinawa who has been doing it longer and is better at it than me”, he said.

Encouraged by the steady growth in the popularity of the bar—combined with the realisation that the island’s nightlife lacks more than a little energy—Pankiewicz has teamed up with fellow Briton Louise Miura to plan an ongoing series of high profile parties that will inject some pizzazz into the social scene.

“I have lots of friends and associates who are in business and I speak at women’s meetings and so on, but there’s a lack of networking here and I’m a skilled matchmaker”, said Miura, 46, who was born in Hampstead but moved around Britain before coming to Japan 14 years ago.

“It’s satisfying to see a productive outcome when I connect people who, with their ideas and vision, complement each other”, she said.

Lacking any sort of regular events that draw together Okinawa’s entrepreneurs, artists and small businesses, Miura is orchestrating up-market, themed parties, the first of which will be in July.

In true British fashion, one of the offerings will be a James Bond Martini Party, where guests are expected to come dressed to the hilt and enjoy a 007-themed entertainment montage, suave drinks— including the agent’s favourite tipple— and British music.

Also in the pipeline is a Miami Skyline Pool Party, in homage to the Miami Vice television show—with over-sized suits and 1980s music—and a separate event designed to showcase modern Okinawan talent.

“This is a fantastic island for the arts, but it’s a shame that not many people know about that side of Okinawa”, she said. “We hope to offer something special, attract people from all backgrounds and encourage networking”.

Miura has lived in Okinawa with her 11-year-old daughter since June 2010, working as a ghostwriter, business consultant and event organiser.

“We are both sea lovers and I just wanted this lifestyle for my hippy

“It is only with time in the country that you are able to understand the language and, more importantly, the culture”.

Hailing from Sale, photographer Chris Willson with one of his favorite images, of a local karate sensei’s calloused hands.

daughter”, she said. “We used to live in wonderful Kichijoji, Tokyo, but it has become over-crowded and too popular.

“The community we are in now is very supportive, laid-back and relaxed and, in many ways, very old-fashioned.”

Another member of the close-knit UKborn community is photographer Chris Willson, who is originally from Sale, near Manchester, and has been in Japan since March 1999.

Having spent his first two years in Niigata and Hokkaido, 36-year-old Willson decided he would rather be able to go scuba diving at weekends, and so decided to move to a place renowned for easy living.

“There’s a nice international community here and I have friends from all over the world. I don’t think you often get that sort of network if you live in other parts of Japan”, said Willson, who studied ecology at Lancaster University and in Canada.

A lecturer at two universities on the island, he travels throughout Okinawa and the rest of Japan on photographic assignments for magazines and newspapers.

“I’ve become more of a specialist in travel photography and it is only with time in the country that you are able to understand the language and, more importantly, the culture as well.

“Being able to speak with, for example, a priest at a festival and build trust

enables me to get up close to take portrait photographs that would be impossible if I didn’t have that connection”, he said.

Dealing with commissioning editors can be “a challenge”, he admits, but the key is to develop multiple income sources, including a selection of stock images and prints that one can sell.

Willson’s ongoing project is also something of a collaboration with Pankiewicz, since he shoots portraits of all the karate masters on Okinawa. Most are face shots and images of these expert practitioners of the art assuming a karate stance. But one of Willson’s most striking images is of the battered and calloused knuckles of a local sensei.

The Dojo Bar: www.dojobarnaha.com Jahana Kippanten: www.jahanakippan.com Chris Willson Photography: www.travel67.com

MAY 2012 | BCCJ ACUMEN | 29

ENTREPRENEUR

Theodore Jennings Award-winning outdoor living designer produces elegant energy saving solutions for home and office balconies.

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ummer is coming! And it will be hot! Most people associate ways to cool themselves down in the summer with ice cream, tall glasses of lemon ice tea, swimming pools and, most importantly, air conditioners. However, while some classic ways to cool down can be enjoyed with negligible impacts to the environment, the reality is that we are becoming more conscious of the need to save energy. Last year’s earthquake, tsunami and nuclear disaster has set Japan on a course of reevaluating how people can save energy. Theodore Jennings, principle designer and owner of Vacation Veranda, says that creating urban balcony and rooftop lifestyle gardens is one way we can move toward cooling the environment and saving energy.

When Jennings started his balcony greening transformation company two years ago, some people thought it was a good idea but didn’t really take him seriously. Last year’s triple disaster, however, actually helped his company to grow. The Texas native and 14-year permanent resident in Japan says that although he doesn’t have the answers to everything regarding the looming energy crisis in Japan, he passionately believes that each individual and company can

30 | BCCJ ACUMEN | MAY 2012

play a role in greening their own personal space. “Everyone seems to be waiting for the government to do something, but you can do something now yourself and have fun at the same time”.

Some people started listening to him and orders soon followed.

His outdoor lifestyle garden design company’s motto is to “Escape, have a vacation in your own home!”.

Jennings’s efforts to green and beautify verandas in Tokyo hasn’t gone unnoticed. He’s been featured in the New York Times, Aera magazine and, most recently, in the Japan Times for his “out of the box” niche business concept, in the concrete jungle of Tokyo, revamping unused balcony spaces into lush outdoor lifestyle gardens. Last year, Vacation Veranda took home the silver medal in the national Hibiya Lifestyle Garden competition where it beat many large and established garden and design firms. He said he put his booth together on a shoestring budget and still won.

He mixes many natural elements such as wooden decks, potted plants, rocks, and water into his projects. Most importantly, his designs are eco-friendly.

Studies show that greening balcony and rooftops significantly cuts the heat of hot

concrete floors that can rise to more than twice the outdoor temperature. Greening your terrace can reduce the heat to just 5-degrees difference compared to the outside heat, or even cooler. The results mean that your air conditioner uses less power to cool your space, and that is money in your pocket!

Jennings says that although starting a new business is difficult, he’s pleased with his performance to date with 25 projects completed and more larger corporate contracts on the horizon.

He’s hoping to someday achieve his goal to become the “Louis Vuitton of outdoor lifestyle garden design”.

And with the Japanese government now offering up to 50% cash back in a program to incentivize individual households and corporations to green their rooftops and terraces, maybe he will.

For more information please contact: Tel: 090-5211-0053 Email: info@vacationveranda.com Website: www.vacationveranda.com

INTERVIEW

By Julian Ryall

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he specialist recruitment firm that Robert Walters set up in 1985 today has 48 offices in 23 countries and plans to start operations in Munich and Rio de Janeiro in the near future. Since 2000, when Robert Walters plc opened in Tokyo, it has become the group’s thirdlargest office in terms of revenue, and was recognised as the Company of the Year at the BCCJ 2011 British Business Awards.

Robert Walters

Chief executive officer Robert Walters plc

Are Asian economies slowing?

Since our industry does not mirror GDP statistics, any slowdown hardly matters.

We deal with international, bilingual professionals and Japan is the third most profitable country for Robert Walters.

Over the past 10 years, the economy here has lacked vibrancy, yet demand for professionals has remained high. We have grown from a one-person office to one of Japan’s largest global recruiters. Looking back 12 years to when I first came to Japan, it is hard to believe that the job-forlife mentality of those days has changed so quickly.

What further economic changes do you expect in Japan?

The message is mixed. While, for cost considerations, many banks and corporations are moving their head offices to Malaysia and Hong Kong, for example, other firms are vigorously internationalising, so there is a push and a pull. Forecasting Japan’s future is tricky but, I expect, it may become the world’s largest market. There is huge potential here for us: were we not to triple our business in three years’ time, I believe we will have missed a trick.

How might the skills shortage affect Japan and the UK? Two points are relevant to mature markets. First, life is becoming more complicated as legislation increases, and the new laws require the services of experienced professionals.

Second, over the coming 15 years, there will be a shortage of people between the ages of 20 and 40. Even now, there are not enough people with the required skills and technical abilities, and the International Labour Organization predicts a further 17% decline in this age group between 2005 and 2020, but the gap cannot be filled by simply throwing bodies at the problem.

What challenges face a firm entering a new market?

They include bureaucracy, corruption in some countries, a different culture, licensing requirements and the acquisition of local knowledge. An understanding of the market is needed: many companies have entered foreign markets with little sensitivity and have failed. Maybe it’s our imperial heritage, but we Brits are good at understanding foreign markets and adapting our behaviour.

What would you advise to overcome the hurdles?

The challenges are mitigated by the way one enters a country, so we try to have a country’s nationals run our local businesses. Although we often start a new business with an expat, we are keen for locals to take over, so that our DNA is established in the local environment.

As an example, take Japan. The intention is to triple the size of our Japan operations, so the staff—with Japanese now accounting for nearly two-thirds of the Tokyo complement—ideally should comprise a mixture of Japanese and international individuals.

How do you maintain standards of quality worldwide?

It’s the attention to detail. Every six months, I meet the reception staff in London to discuss interview room utilisation rates and how quickly phones are answered.

With each of our offices worldwide in a prime space, we seek to put forward the

best possible image. As organic growth is transferred to other offices, continuity and conformity are created, ensuring that the heart of each business is the same.

We have 48 offices around the world, and in each of them you will find the same furniture, branding and quality of reception. It is important that my vision cascades down through the layers of management and be understood. Since we do not produce a physical product, our service is measured in terms of first impressions: our web site, the first phone call and our iPhone apps. These factors are important to getting, and staying, ahead; thereafter it’s just a case of getting on with the job and meeting local requirements.

How important is Japan to your business overall?

When I first came to Japan, I decided— based on one client’s suggestion—to open an office here. It was not cheap to do so, but we pressed ahead and the business became successful.

From the earliest days, I saw that this is an unusual place. It has a magnetism that is quite extraordinary and is of interest in our world of recruitment, right now being the hottest spot anywhere.

With the employment system changing and an ageing population of 130 million, everything about Japan seems to be in our favour. We are the biggest professional recruitment firm here and, if we continue expanding, Japan soon will be the largest office in the Robert Walters group.

MAY 2012 | BCCJ ACUMEN | 31

ADVENTURE

Return Trip to Tower Bridge Record-breaking global solo row, despite fear of deep water

By Julian Ryall

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or someone who spent four months rowing solo from Australia to Mauritius, and then decided to go one better by cycling and rowing around the planet, Sarah Outen has a very curious fear.

As she carefully lays out all the food, clothing and paraphernalia required to take on the next leg of this two-and-ahalf-year odyssey—the 4,500 nauticalmile crossing of the North Pacific in a 7-metre boat called Gulliver—she makes her confession.

“I’m scared of swimming in deep water”, she admits. “Getting into the boat is a nervous time for me and, even though I like being in the water, I’m always a little bit frightened about what might nibble my toes”.

Saying that she would not have started out had she not intended to finish the journey, she agrees there are

other dangers out there on the Pacific, commenting that she has not yet experienced a boat pitch-poling (going stern over bow), and adding hastily that she has no desire to do so.

Outen, from Oakham in Rutland, started the London2London: Via the World trip by rowing beneath Tower Bridge on 1 April, 2011. Since then, she has cycled across Europe, China and parts of north-east Russia; kayaked to Sakhalin; hopped back on the bike for a bit; and completed the stretch to Japan by kayaking to Hokkaido in October.

The 38-nautical-mile crossing to Japan was her longest to date, having taken 12 hours. During her trip so far, she has endured 40 punctures, replaced two bicycle wheels, bought two new pairs of shoes, suffered food poisoning and had three marriage proposals.

For the past five months, Outen has been preparing for what is arguably the toughest leg of the entire trek, undergoing treatment on a minor back injury and spending a week volunteering

» FOLLOW SARAH www.sarahouten.com

32 | BCCJ ACUMEN | MAY 2012

with It’s Not Just Mud, the international NPO that has been assisting in tsunamidevastated Ishinomaki City, Miyagi Prefecture.

But with the arrival of spring and, she hoped, both fair winds and a kind current, Outen was back at Choshi marina in midApril, applying the final touches ahead of her departure.

“I had made 20 April my departure date, but with ocean rowing you want to have the help of the winds to get you out to sea”, she said. “At the moment, we’re looking at 24 April being the best day for my departure”. Her departure has since been further delayed, by strong winds, and put back until mid-May. Outen is aiming to get into the Kuroshio Current as it runs up the east coast of Japan before curving eastward and out into the Pacific. After that, she says, it’s a case of seeing what the elements throw at her.

Only three crossings of the Pacific have been completed by rowers setting out from Asia. No-one has attempted the northerly route that Outen is planning

ADVENTURE

to take and, if all goes according to plan, will see her reaching the Canadian coast in around 150 days. To be on the safe side, she has sufficient food for five months afloat—including no fewer than 700 bars of chocolate provided by Mars, one of her main sponsors, and a bottle of her mother’s home-made sloe gin.

“It’s important to have a little treat on the boat now and then”, she said. “And I shall have some to mark my birthday on 26 May”.

Outen will turn 27 on that day and expects to spend her birthday on the Atlantic Ocean, as she completes the last leg of the trip back to Tower Bridge.

“I love the challenge of all this”, she said. “The discovery, being immersed in the landscape, travelling so slowly that wildlife comes up to you.

“The bicycle is not intimidating, so meeting people is easy and that gives you a far deeper insight into their cultures”, she said.

Outen, who graduated from Oxford in 2007, undertook her first major

“I love the challenge … The discovery, being immersed in the landscape, travelling so slowly that wildlife comes up to you”.

expedition in 2009 and rowed her way into the Guinness Book of Records by becoming the first woman to row solo across the Indian Ocean. That journey was, in part, inspired by the death of her father six years ago and the journey raised funds for a charity that helps people suffering from rheumatoid arthritis.

Her aim now is to use this latest expedition to raise £100,000 for good causes, including campaigns to combat breast cancer and motor neurone disease, the WaterAid anti-poverty charity, as well as the Jubilee Sailing Trust, which helps physically challenged people enjoy sailing.

“I look at all this as just following my dreams and, I hope, doing some good along the way”, she said. “I have no idea what I will end up doing afterwards, but I’ll let any ideas evolve and see where they take me. But I know I’m not the sort of person who will ever be happy just sitting in an office”.

MAIN PHOTO: NIGEL MILLARD

MAY 2012 | BCCJ ACUMEN | 33

EDUCATION

Selecting the Right University With so many choices and misconceptions, here are some things to consider

By Matt Lennon The British School in Tokyo

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urrounded by fellow students of many different nationalities, heading off to universities in every country imaginable, the options for students at international schools can seem endless.

From the outset, international students have a wonderful “the-world-is-youroyster” outlook on life. However, this invaluable perspective can make the decision all the more daunting. From the word go, the pressure is on parents to put their children in international schools abroad. Thus teachers are often faced with questions such as, “If my child takes SATs and AP classes, will this make going to university in the UK difficult?” Or, they might be asked, “If they leave school with A Levels, then surely college in the US will not be an option?”

Both of these questions represent common misconceptions. Whether staying in Japan, or going to the US, the UK or elsewhere, your child’s education will be valuable and the merits transferable.

Studying at university abroad is a rewarding experience for any student, but there are a few important things to think about in order to choose the right one.

Students should ask themselves, “Which course do I want to study? Will studying this course in a particular country enrich my experience?”

Along with help from parents and school career advisors, students should be researching their prospective course thoroughly; not just looking at the major offered, but rather at the breakdown of what each individual module or unit entails. Tuition fees, the cost of living and the distance from home are also sensible considerations that should be taken into account.

From a financial point of view, UK universities are currently a very viable option for many students. Charging reasonable overseas fees of around £13,000 per annum and providing priority

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student housing means that Russell Group, Oxbridge-standard colleges, such as Kings College London and Imperial College London, provide considerably more affordable degrees than, for example, US Ivy League colleges, which can charge $55,000 to $70,000 a year.

One can apply to UK universities through the Universities and Colleges Admissions Service (www.ucas.ac.uk), which has an abundance of information for students thinking of entering higher education in the UK. For those considering staying closer to home, in Japan alone there are many universities delivering courses in English. In 2011 the Japanese Ministry of Education, Culture and Sport (MEXT) launched the Global 30 Project. The government-driven project, which aims to increase the number of international students to 300,000 by the year 2020, initially chose 13 universities in Japan to pioneer English-taught courses.

At Osaka University, international students are offered two undergraduate courses in Global Citizenship and Contemporary Japan. At Waseda University, the International Christian University, Hiroshima University and Meiji University—to name but a few—Liberal Arts and Global Studies programmes are proving popular. Most of these universities offer scholarships and bursaries to appropriate candidates.

Before making that final decision on where to go, the best advice to students is simple: do your homework. If visiting the campus isn’t an option, then send off for the prospectus and use the website. It’s a good idea to have a conversation with someone from the admissions department at each of your preferred universities or, even better, to go directly to someone in the prospective faculty.

Speak to your college or university advisor in school; they might know alumni or current staff at certain universities. Many faculties, especially in larger universities, have international admissions staff and they should be able to give you a lot of advice in

regard to courses and information on admission deadlines.

Make sure that you are accurately informed concerning any visa requirements or financial rules that may apply. It is also a good idea to check if there are any scholarships or bursaries for which you may be eligible.

Every parent dreams of their child going to Oxford, Harvard or the University of Tokyo, but each student and institution is different. Students should aim for the right course for them and, with the right amount of support, this should shape them into employable adults once they have finished their degree.

More information: www.uni.international.mext.go.jp/ www.ucas.ac.uk/

MUSIC

Strictly Singing—for Charity Fancy sponsoring a concert, winning free tickets or auditioning? Try the British Embassy Choir Tokyo.

By Yuuichiro Nakajima

FREE TICKETS!

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inging, to some of us, is a pursuit closely associated with showers and karaoke bars. To others, it is a distant memory from their youth, days of Sunday school and campfires. Then there are those who sing along to their favourite music in their head, lest they embarrass themselves or others should they let rip.

Music can be at once a form of relaxation, entertainment, an expression of artistic passion and business. In Tokyo, there is an English-speaking choir that combines all of these and other elements of music enjoyment for singers in the international community.

The British Embassy Choir Tokyo (BEC) has, as its name suggests, strong links with the UK. It was formed in the late 1980s by Stephen Gomersall, who worked at the embassy, and was taken on by then-Ambassador Sir John Boyd in the 1990s. The choir flourished into an independent group outside the embassy and is now the premier international choral group in Tokyo, welcoming willing and able singers from any country, though the British choral tradition remains a source of inspiration.

Ambassador Sir David Warren is the BEC’s patron.

The choir sings a wide variety of music from the sacred and secular choral repertoires, as well as ballads, light opera, folk and popular songs. Many members have a formal music background and hail from a wide range of countries across all continents and regions.

Their occupations are diverse as well, the current register of singers encompassing high school and university students, working mothers, entrepreneurs, bankers, teachers, selfmade businessmen (active and retired), corporate executives, office workers and others.

Soprano Junko Sato, who works in her husband’s trading firm, says that singing with the choir brought a new dimension to her life.

“I am grateful that the BEC gave me an opportunity to get back into music after a long break. There is a lot to learn from putting together each season’s concerts

We have 10 tickets for the BEC concert on 10 June at Kyu-Sogakudo, in Ueno, to give away to readers (maximum two tickets per person).

To apply, please email us your name, address and telephone number: editor@custom-media.com

with other singers who are all connected by the love of singing”.

One of the features that makes the choir stand out in comparison with others is that it performs strictly for charity.

All members, including the musical director and conductor, Steven Morgan, and the singers are volunteers who give up their time and make every effort for this purpose.

Concerts, held twice yearly at Christmas and during the spring or summer, are put on at no cost to the audience, who are admitted free of charge. Donations are collected at the concert venue and passed on to Japan-based charities.

Over the years, the BEC has given money to many organisations and some of the recent recipients include Animal Refuge Kansai, Ashinaga, Caritas Japan, Family House, Oxfam Japan and the Tyler Foundation.

The choir provides corporate and individual sponsorship opportunities.

For a modest contribution towards the operating budget (otherwise funded by members) and depending on the category, sponsors can receive: • Mention in concert fliers • Programme and website advertisements • Preferred seating (on request) • A souvenir from the choir • Mailed information about events • A mini concert at their private or office function

The BEC is scheduled to perform in two upcoming events. On 2 and 10 June, the choir will feature Johannes Brahms’ Ein Deutsches Requiem and pieces by Elgar, Fauré, Morgan and Schumann.

Donations will go to School Music Revival and Sweet Treat 311, both of which help children in the quake-hit Tohoku region.

On 18 and 19 June, some BEC members will be part of a choir of 300 singers to perform Sir Paul McCartney’s Liverpool Oratorio in Tokyo (see page 47).

According to Morgan: “It is a great opportunity for the BEC to take part in a project which offers us the chance to expand the scope of our music making.

Whereas most of our repertoire is taken from the classics—by Bach, Haydn, Mendelssohn, Brahms and others—this event is exciting for two reasons. First, we get to sing a work by a living composer; second, we get to sing a work that is a sort of fusion of classical and popular music.

Besides having broad audience appeal, it gives us a chance to stretch our musical boundaries a bit”.

The BEC is always looking for new singers, so if you are interested in being auditioned to join the choir, please contact us: Auditions: auditions@bec.ac Events: www.bec.ac/concert.html www.bec.ac

MAY 2012 | BCCJ ACUMEN | 35

INVESTMENT

Who is a Professional Investor in Japan?

By Yasuyuki Takayama Clifford Chance Law Office

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n many jurisdictions, the financial regulations that apply to transactions involving professional investors tend to be more moderate than those applying to transactions not involving professional investors. This is also true in Japan.

There are three key types of professional investor in Japan:

1. Qualified institutional investor (QII)

The QII is the oldest, and most narrowly defined, of the three types of professional investor. This category includes banks, insurance companies, securities firms, investment managers and other institutional investors.

Traditionally, the QII has been used for private placements. Thus, if the offeree is limited to being a QII, and resale is allowed only among QIIs, the offer is exempt from the prospectus requirement.

However, since September 2007, the term QII can be applied to exempted investment management business. Thus, the manager of the fund is not required to obtain a licence if investors in a fund are limited to being QIIs, there are 49 or fewer non-QIIs, and adequate transfer restrictions are in place.

2. Specified investor (SI)

The tokutei toshika category first appeared in Japan in September 2007. The English term used for the category is either specified investor or professional investor.

The specified investor category includes QIIs and certain other entities, including tokutei mokuteki kaisha (TMK) such as special-purpose companies (SPCs) for securitisation, companies listed in Japan, stock companies that appear to have at least ¥500mn in capital, and foreign companies.

The default settings may be changed by a contractual arrangement between the investor and a securities broker. An entity that is categorised as an SI (except in the case of a QII) can be treated as a non-SI if the entity agrees to this with the securities broker.

Similarly, an entity that is categorised as a non-SI can be treated as an SI if the

36 | BCCJ ACUMEN | MAY 2012

entity agrees to this with the securities broker. Although an individual is, in principle, treated as a non-SI, a high net worth individual can be treated as an SI if the person agrees to this with the securities broker.

At first, this concept was used to relax the obligation of securities brokers to provide a detailed explanation of financial products. However, since December 2008, the SI category also has been used for private placements and the creation of a new securities market, such as a stock/bond exchange market designed for professional investors only, which does not impose intensive disclosure obligations on the issuer of the stock or bonds.

3. Qualified Investor (QI)

The QI category of professional investor is the broadest and newest of the three types. It includes SIs, certain pension funds that appear to have assets of at least ¥10bn, corporations that appear to have assets of at least ¥300mn, and highnet-worth individuals who appear to have assets of at least ¥300mn—and have had securities or derivatives accounts for more than one year.

This concept was introduced on 1 April 2012, in order to introduce a relaxed licence requirement for investment managers, so that if investors are limited to QIs, the investment manager

may be registered with the regulator, while having fewer personnel and less capital than what would previously have been required.

As you can see, the professional investor category, and the context in which it is used, recently gradually has been expanding. This implies that, generally, the Japanese financial regulator has been willing to relax regulations on transactions to which professional investors are party. This should be good news for securities firms and fund managers interested in starting a business that has Japanese clients.

Nevertheless, the question arises whether the relaxed regulations might adversely affect professional investors who lack experience in, and knowledge about, investment.

For instance, certain pension funds were included in QIs as of 1 April, 2012.

However, according to recent news reports, about 90% of the of pension fund directors and employees in charge of managing the fund’s assets lack a background in asset management.

Needless to say, the recent scandal involving AIJ Investment Advisors Co., the Tokyo-based advisory firm at the centre of a $2bn alleged fraud, shocked Japanese investment management society, pension funds and the regulator. In future, the regulator may wish to go back to more stringent regulations.

INVESTMENT

Buying Real Estate in Japan Recent changes in property markets and values

By Hiroyuki Isobe

J

apan was the world’s secondlargest economy for more than 40 years, until it was overtaken

by China in 2010. After the early 1990s, Japan experienced what some have called a lost decade, during which time the economy stagnated and growth was substantially lower than before. Over the same period, real estate prices continued to drop, eventually settling at one third of the peak prices recorded in the late 1980s.

When, after restructuring, real estate business started to pick up again, it was a totally different market. In the wake of World War II, Japan’s real estate prices rose steadily, due solely to the macro economic trend.

However, real estate prices at the turn of the 21st century were heavily dependent on such factors as location, usage and money invested. Thus, while most realestate players could easily be winners up until the 1990s, since then there have been both winners and losers.

The post-bubble recovery From 2000 until the financial crisis in late 2008, the real estate investment and residential markets experienced a substantial recovery. Thus, in 2009, the value of the most expensive commercial land in Tokyo was nearly the same as it had been at its peak in 1990.

The real estate market here used to be criticised by many global institutions … However, the situation has improved.

However, once the current economic crisis took hold, institutional investors, who had previously played a major role in the transaction market, became very conservative. The impact this had on the global economy was so serious that real estate transactions decreased drastically worldwide.

Due to the euro crisis and the strong yen, the Japanese economy again entered a grey zone, its situation exacerbated in 2011 as a result of the Great East Japan Earthquake, resultant tsunami and the nuclear power station disasters. In addition, the production lines of many Japanese corporations were hard hit by the severe flooding in Thailand’s major industrial zones.

A New Japan?

One might well wonder whether Japan is losing its position in the global economy.

Considering the three expressions that signify the economic presence of Japan—“Japan Bashing” in the 1980s; “Japan Passing” in the 1990s; and “Japan Missing” so far this century—we ask if Japan will be left behind China, South Korea, India, Taiwan and other Asian countries?

The answer is yes—and no. Yes, because Japan will no longer be able to achieve its earlier high level of economic growth. And no, because Japan is capable of enhancing its mature economy at a sustainable pace.

Although the problems related to ageing and depopulation that face Japan will weaken the country—as also the real estate market—domestic and foreign long-term investors have recently been returning to the property market, possibly attracted by promise of the nation’s postquake recovery.

Market moving forward According to major developers in Tokyo, there has been a recovery in sales of new condominiums, particularly those in centrally located, earthquake-resistant high-rise structures.

With consumers having awoken after a year of restraint, April saw a number of major commercial complexes open, including the Mitsui Outlet Park Kisarazu, Tokyu Plaza Omotesando Harajuku, Diver City Tokyo Plaza and Shibuya Hikarie.

Value of real estate today

売り出し中

The real estate market here used to be criticised by many global institutions for its lack of transparency. However, the situation has improved and the market is much more transparent than before.

Now, the Ministry of Land, Infrastructure, Transport and Tourism provides real estate sales data online in Japanese and English, while the Association for Real Estate Securitization provides comprehensive investment property information in both languages.

Unlike the easy days of the 1980s, however, asset values have become a more complex issue than before.

MAY 2012 | BCCJ ACUMEN | 37

PUBLICITY

A World of Workspaces Regus assists global businesses of all sizes and budgets

A

s the largest global provider of flexible workspaces, Regus plc each year helps more than 1mn customers focus on their business, rather than the location from which they manage it.

Established in 1989, Regus operates at 1,200 locations in 95 countries by offering a variety of modern, efficient and versatile spaces and business support services, including offices, meeting rooms, business lounges, reception facilities, phone messaging services and video communication studios.

With 27 locations in Japan alone— including a new centre in Sapporo—Regus has selected prime-location properties in city centres, commercial districts and business parks, all with excellent transport links.

As a Regus customer, you may choose a business hub to suit your needs from 18 locations in Tokyo and Yokohama, all situated a short walk from major train or subway stations. You may gaze at the capital city’s landmark Tokyo Tower from Roppongi Hills; on a sunny day be inspired by views of Mt Fuji from Shinjuku Park Tower; or work in the centre of business, culture and nature at the Imperial Hotel Tower’s Hibiya Centre.

Whether starting your own business, operating an SME, or working at a busy multinational, Regus offers an extensive choice of workplace products and services that will enhance your ability to carry out business effectively.

Business World This membership programme, which costs from just ¥2,800 per month, allows you access to a professional and stylish business environment wherever and whenever you need it. You may make effective use of your time between appointments at Regus business centres, private offices with full IT facilities, business lounges and cafés in 550 cities around the world. A revolution in mobile working, Business World offers four levels of service for just one hour—or on a daily basis.

Virtual Offices A Regus Virtual Office gives you all the benefits of a fixed office, without the actual office. A prestigious business

38 | BCCJ ACUMEN | MAY 2012

View one of our office facilities and be eligible to win one of 10 iPad 2 models. For more details, please search for "BCCJ Regus".

address with a local contact number answered in your company name can give you a big advantage in the business world.

With access to all of the Regus Business Centres worldwide, our professional teams will manage and forward your calls to a specified phone number and handle your mail. Alternatively, you can use a private office at the business centre of your choice up to five times per month with Virtual Office Plus.

Rental Offices Regus rental offices are located at excellent locations in high-grade buildings near major train or subway stations, and are available for rent for a few hours or days, months and even years.

Each rental office is fully equipped with office furniture, telephones, IT network, photocopier, facsimile, reception desk and café—and you can move into one immediately. Regus has flexible options to suit any budget and working style. It can offer single rooms or space for 100 people, with no deposit or key money required.

Meeting Rooms Regus meeting rooms allow you to meet in person or via video, thereby providing a productive space wherever and whenever you need it. Whether you’re meeting clients, giving a presentation or catching up with colleagues over a great distance, Regus meeting room facilities can be

booked for as little as one hour.

For meeting rooms, boardrooms, training rooms and video communications Regus provides a dedicated support team, internet access, telephones, an LCD projector and screen, as well as catering services.

Video Communications Even if you’re thousands of miles apart, Regus Video Communications allows you to meet face-to-face. Meet anyone, anywhere, any time with Regus Telepresence and Video Conferencing facilities.

You can make decisions more quickly, save money on flights and hotels, and connect to one or more of the 1,200 Regus centres worldwide. Telepresence uses advanced internet technology for smooth viewing, high-definition video and lifesize images, with surround sound and “in-desk” screens for a controllable viewing experience.

The Regus network of videoconference suites offers full technical support, with the latest technology and 24-hour booking for worldwide coverage.

INDUSTRY | M&A

Mergers & Acquisitions: Your biggest leverage and trouble comes from bad people, personnel costs and policies, and ill-managed unions

By Thomas J Nevins

I

n this article, I cannot help you very much. That said, in my 2004 book, Japan True or False—People Problems, Costs, Restructuring, chapters one, four and five have much useful information on mergers and acquisitions. TMT/ Glasford specialises in the areas of HR practices, salaries, benefits, personnel replacement, and supplementary executive search.

The book’s first case study is especially important: it tells, in detail, what to look for and why the huge firm involved was happy they did not buy the factory operations mentioned. All meeting times, dates, consulting documents and exhibits are real, with only company and proper names changed.

I have seen many mergers and acquisitions that were about to have their letter of intent signed without due diligence having been conducted regarding the about-to-be-acquired firm’s largest costs and potentially largest headaches.

If a firm is up for sale, there are usually reasons that you had better know about, and then change.

When you have to reduce staff, contrary to the myths you may hear, you certainly do not need to allow all employees to voluntarily leave with a severance package.

In fact, by using appropriate tactics and good communication, it is possible to get staff to see that the most unfair thing is dangling the same severance package in front of everyone and dissuading the ones you need from leaving, while repeatedly pushing out and pressuring to leave those people you believe are less necessary. At least these latter poor souls want to know that the people you need are not able to voluntary leave with the same severance package that is being pressed on those whose services are no longer required.

If you know union management, how to communicate with the entire workforce, and how to negotiate with and handle union leaders—even those you consider radical—there is no reason your entire merged entity should be unionised.

As the volume’s many other case studies and client-identified and signed

If a firm is up for sale, there are usually reasons that you had better know about, and then change.

testimonials show, employees often willingly give up their union. They may, for example, realise that 3–5% of their pay (some ¥3,000 to ¥5,000 per month) is deducted for union dues that no longer will win them anything.

Among the 87 client letters carried in our website, there is one that shows we persuaded an extremely strong and powerful union at a well-known Japanese firm, in a joint venture with a major US firm, to leave the new venture alone.

Everyone had thought that could not be achieved.

At just one three- or four-hour meeting, attended by about 40 people—half union leaders, and half top management from both firms—we succeeded in getting the union to agree to leave the joint venture alone. We did this simply by reasoning, good communication and requesting

favourable treatment from the powerful union leaders. We politely expressed the desire to manage without having a union involved in all decisions—as the US firm was accustomed to doing.

So whether acquiring, or merging with, a firm, we can make appropriate costsaving changes; run with our own rules of employment, benefits and salary plan; adjust down some individuals’ salaries, if fair and appropriate; as well as selectively reduce and replace staff.

But sometimes there are good practices to learn and incorporate from the other entity. After duly respecting collective bargaining agreements, there are ways to incorporate them into the employment rules and for the employer to change their rules. Even without union or employee consent, there are ways to smoothly get that done.

MAY 2012 | BCCJ ACUMEN | 39

INDUSTRY | OFFICE SOLUTIONS & DESIGN

Feng Shui for Cynics Believe it or not, this ancient Chinese art is practical for business

By Michiaki Tanaka Consultant and representative World of Feng Shui Japan HQ

W

hether people believe feng shui actually influences events or is superstitious nonsense, even cynics cannot deny its real benefits in the office, especially if you have Asian staff or clients who visit.

After all, Donald Trump, the property developer, consults masters of the traditional Chinese practice to make major structural and design decisions— if only for potential tenants and valuable Asian business.

Feng shui is too complex to explain in full detail here, but I wanted to share with you a recent consultation I gave during a visit to Custom Media, publishers of BCCJ ACUMEN. My first impression was that it looked and felt good. Located on a quiet road, the redbrick building with gold-coloured letters suggested solid and successful.

The tall and wide ground floor windows were filled with green trees from the sprawling grounds of Akasaka Palace opposite and the office glowed in warm natural light. Inside, the soothing view and gentle flow of energy fully compensated for the irregular shape of the office—feng shui followers prefer square or oblong—which creates practical and pleasing spaces for different departments such as editorial, design, business, reception and boardroom, etc.

But there was a nasty corner: the 45-degree edge of a wall jutting towards a desk was soon fixed by moving a pot plant a few inches. I also suggested for this relatively remote spot more light and an aquarium or other water feature, and maybe some music to boost energy flow.

After learning the birthdate of the desk’s occupant, I consulted my compass and moved his computer slightly to face the large window at south-west, rather than a dull corner with a cupboard facing his unlucky east. This meant slightly moving his chair and a few things on

40 | BCCJ ACUMEN | MAY 2012

What does feng shui do?

• Helps you be more conscious of clutter • Focuses you more clearly and productively • Creates organized space that reduces stress • Places work-related objects within easy reach • Minimises major distractions and irritants • Aesthetically pleasing and good to touch • Sounds are soothing and not interfering

Look at your office and ask yourself: • Does it look cluttered?

• Can you sense flow?

• Is equipment placed right?

• How easy on the eye is it?

• Do you enjoy being there?

• Does it feel efficient, powerful?

Outside is important, too

• Locate in a wealthy neighbourhood • Large entrance should be memorable • Don’t choose an energy trap dead-end • Corners are best spots for entrances

Identify and enhance “wealth” area with: • Aquarium or picture of water—makes energy flow • Green plants allude to growing—like your business • Something red means wealth—money, good luck

Michiaki Tanaka keeps a jade tree in his Tokyo office.

General

• Desks should be diagonal to, or facing, the door • Don’t put desks back-to-back • Soften jutting walls with plants • Break up dull walls with mirrors or paintings

his desk, but he soon saw the light. The occupier later revealed he was born in the south-west of his country. Coincidence?

You decide.

A golden dragon boat and ingots adorn his desk.

INDUSTRY | OFFICE SOLUTIONS & DESIGN

Efficiency, Costs, Risk How proper information and data-security processes help firms

By Craig Harrison Director of Client Services Crown Worldwide K.K.

W

ith ongoing uncertainty about the economic outlook and the strength of recovery, businesses across all sectors continue to seek ways of improving efficiency and cutting costs.

While there are many measures that firms can take to protect themselves against the challenges of an uncertain and unstable economy, implementing efficient records management processes is, however, one way of both providing cost and time savings over the long-term, as well as preventing the reputational and financial damage that lost information can inflict.

Unfortunately, Japan is not just having to deal with a recession, but also with post-earthquake business continuity, plus the ever-present and growing concern that Tokyo may be subjected to an event of a scale similar to that of March 2011.

Essentially, records are the evidence of a firm’s actions and, thus, must be

managed and properly maintained to comply with the laws and regulations of the countries in which they operate.

Therefore, they should not be looked upon as an additional cost but, rather, a method of protecting the integrity of records and, in part, a way of reducing short- and longterm costs.

One key factor most organisations face, when trying to control or reduce their operational expenses, is the burden and fluctuation of office and facility costs.

Despite the current economic uncertainty, average monthly office rents in Tokyo remain significant.

The monthly cost of outsourcing the storage of hard-copy document and electronic-media backups is far less, for example, for the contents of a typical three- to four-drawer filing cabinet, than for the 1.4m² of space it would take up in an office.

Firms can, therefore, achieve significant reductions by utilising office space for essential-use items only, and sending records off site for storage.

Careful records management protects firms from the damage and setbacks caused by data losses, thereby preserving consumer loyalty, which can be severely

impacted should firms fail to keep secure personal and corporate information.

Effective records management procedures also protect firms from the legal consequences of information losses.

Data breaches often lead to substantial fines, so an audit, to ensure data is not retained for longer than needed, is well worthwhile.

Such audits take into account all relevant legal and sector-specific regulations, with notifications whenever data has reached the end of its lifespan.

Finally, effective records management is a key aspect of disaster recovery and business continuity planning. Should a firm experience flooding, fire or information technology failure, any inability to get up and running quickly can prove expensive.

By ensuring that crucial information is backed up and stored in a secure location, firms can significantly improve their chances of being able to return to normal operations as quickly as possible, thus avoiding lost custom and escalating costs.

To implement an effective policy, it is crucial that organisations foster a culture in which records management and data protection are at the forefront of everyone’s mind, rather viewed as the responsibility of one person or department.

Firms should, therefore, establish stringent procedures for handling and storing information, and ensure that all employees are aware of both their obligations and the potential consequences of data losses. These procedures should cover all types of record, from electronic data and emails to hard-copy files, and should encompass clear policies on the use of devices such as USB memory sticks, as well as the transportation of data.

In addition, all sensitive electronic data should be encrypted, while hard-copy information should be securely stored and its use carefully monitored.

It’s clear that the potential cost savings and reduction of risk make records management an issue all firms must take seriously. By taking action now and implementing such control measures, firms are a step closer to ensuring they are in the best possible shape to navigate the road ahead.

MAY 2012 | BCCJ ACUMEN | 41

THE A-LIST OF OFFICE SOLUTIONS & DESIGN

Established in Japan in 1965, Crown Worldwide Group is a privately held company with global headquarters in Hong Kong and 250 operations in 55 countries.

Crown Worldwide Group provides a full suite of high quality services worldwide, including professionally tailored relocation, records management, fine arts and logistics.

AREAS OF EXPERTISE Company Name:

Crown Worldwide K.K.

Address:

Teiken Tokyo Bldg. 2F 2-17-13 Takanawa, Minato-ku Tokyo 108-0074

Telephone:

03-5447-2301

Email:

tokyo@crownrelo.com

Website:

www.crownrelo.com

• Door-to-door domestic and international household goods transportation.

• Preview trip, orientation tours, home search, school search, immigration assistance, cross cultural training and settling in services • Records management services for confidential document and data storage, and destruction services • Office relocation • Fine arts services, professional transportation of artwork for galleries, auctions, exhibitions, and private collectors

We are the largest global provider of flexible workspaces and offer a wide variety of modern, efficient and versatile spaces and business support services, including offices, meeting rooms, business lounges, reception facilities, phone messaging services and video communication studios.

Established in 1989, we serve 1mn customers every day so they can work however, whenever and wherever. With 1,200 centres in 95 countries, including 27 locations in Japan, we have selected prime-location properties in city centres, commercial districts and business parks, all with excellent transport links.

Whether starting your own business, operating an SME, or working at a busy multinational, our extensive choice of workplace products and services will enhance your ability to carry out business effectively.

Company Name:

Regus Japan K.K.

Address:

Ark Mori Building 12th Floor, 1-12-32 Akasaka, Minato-ku, Tokyo 107-6012

Contact:

Ms. Noelle Coak, Regional Director, Japan

Telephone:

03-4360-8200

Email:

Noelle.coak@regus.com

Website:

www.regus.jp

AREAS OF EXPERTISE • • • • • •

Office space to rent Day offices Serviced offices Mobile working Part-time offices Home working

• • • • • •

Hot desking Workplace recovery Telephone answering Business address Mail handling Meeting rooms

• • • •

Board rooms Training rooms Business centres Video communications • Business lounges

Servcorp offers the world’s finest serviced and virtual offices, with more than 120 centres at top business addresses in major global cities including 22 in Japan, three in London, three in Paris and two in Brussels. Our serviced and virtual offices, boardrooms, bilingual receptionists/secretaries, and IT solutions offer an affordable turnkey solution to establish your business in major cities.

Serviced offices • Cost effective solutions for up to 10 staff • Best address, receptionist, IT and support • Flexible lease terms from one month • All for less than the cost of a secretary!

Company Name:

Servcorp

Address:

Level 27 Shiroyama Trust Tower 4-3-1 Toranomon, Minato-ku Tokyo 105-6027

Contact:

Tomoko Matsumoto, Marketing manager-Tokyo

Telephone:

03-5403-4630

Email:

offices@servcorp.co.jp

Website:

www.servcorp.co.jp

42 | BCCJ ACUMEN | MAY 2012

Virtual offices • Best business addresses in the world • Free business lounge every day • Full business support without physical office space • Telephone number, address issued instantly online • From just ¥6,000, €60 or £50 per month!

AREAS OF EXPERTISE • • • • •

Serviced offices Virtual offices Boardrooms, meeting rooms, interview rooms Secretarial services and IT support Business contingency planning

THE A-LIST OF MERGERS & ACQUISITIONS

bccjacumen.com/a-list

International law firm Clifford Chance combines the highest global standards with local expertise.

We have been established in Tokyo since 1987 and have more than 55 legal staff in Tokyo made up of foreign and Japanese (bengoshi) lawyers who work as a team to service domestic and international clients. This is supported by an international network of 34 offices in 24 countries.

We have in-depth knowledge of the law and its practical application to provide accurate, innovative and commercially attuned advice that answers our clients' needs.

Company Name:

Clifford Chance Law Office (Gaikokuho Kyodo Jigyo)

Address:

Akasaka Tameike Tower, 7th Floor 17-7 Akasaka 2-chome, Minato-ku, Tokyo 107-0052

Contact:

Andrew Whan, Partner

Telephone:

03-5561-6600

Email:

Tokyo.Office@cliffordchance.com

Website:

www.cliffordchance.com

AREAS OF EXPERTISE The firm focuses on the core areas of commercial activity: • Corporate, commercial, M&A and private equity • Banking and finance • Capital markets and structured finance • Funds • Litigation and dispute resolution • Regulatory • Real estate

Ernst & Young Transaction Advisory Services Co., Ltd. is a member of the Ernst & Young global network. Our 9,200 professionals around the world make better and more-informed decisions about how to manage capital and transactions in a changing world.

We offer globally consistent one-stop tailored advice including M&A lead advisory, post-merger integration, transaction support and tax, and valuation and business modeling.

Whether you are preserving, optimizing, raising or investing capital, Ernst & Young offers a unique combination of skills, insight and experience to deliver advice for your needs—helping drive competitive advantage and increased shareholder returns through improved decision making in all aspects of your capital agenda.

Company Name:

Ernst & Young Transaction Advisory Services Co., Ltd.

Address:

29th Floor Kasumigaseki Bldg.

3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6029

Contact:

Kenneth G. Smith, Representative Director

Telephone:

03-4582-6400

Email:

marketing@jp.ey.com

Website:

www.ey.com/jp

AREAS OF EXPERTISE • • • • • • • •

Lead advisory Deal structuring and negotiation Due diligence for financial, market, tax, real estate, IT and operational Valuation and business modeling Purchase price allocation Real estate valuation and appraisal Restructuring and reorganisation Post-merger integration, carve-outs and divestments

Founded in 1983, Japan Valuers is one of the leading real estate appraisal firms in Japan.

We organise a nationwide network and have alliances with several firms around the world, structuring valuations promptly for a wide range of clients.

As a corporate member of the International Valuation Standards Council, we provide services in accordance with the latest accounting rules of the International Financial Reporting Standards. We are also registered with the Royal Institution of Chartered Surveyors and provide various services based on its high standards.

Working closely with our global and domestic clients, we assist various types of real estate decision making through valuation and counseling.

AREAS OF EXPERTISE Company Name:

Japan Valuers Co., Ltd.

Address:

Ringo Bldg., 2-13 Goban-cho, Tokyo 102-0076

Contact:

Kiyoshi Sasagawa, Director

Telephone:

03-3556-1702

Email:

global@japanvaluers.com

Website:

www.japanvaluers.com

We provide appraisals: • Of investment properties such as J-REITs • With fair value accounting • Related to transactions, corporate M&As, share exchange and corporate separation • For property finance

We also offer: • Investment analysis and feasibility studies • Highest and best use analyses

MAY 2012 | BCCJ ACUMEN | 43

TRIBUTE

In all these years of hard work, though, it has been his powers of self-expression that made him so conspicuous a figure in Tokyo.

Minoru Mori Businessman, benefactor and believer in the arts

By Henry Scott Stokes

W

ith the sad departure of Minoru Mori KBE, who died in March at the age of 77, we have lost one of the most mordant observers of the contemporary scene in Tokyo and Shanghai, as well as a “do-er” of the first rank. I knew Minoru more than slightly as an independent force in these two cities. It is rare, indeed, in Japanese business to find someone who does things on their own. Well, he made up his mind without consulting anyone—all the time and to marked effect.

Look at his splendid Mori Tower, the centre piece of Roppongi Hills. I remember when he showed me a scale model of the project back in 1996 or so. We were in his office, then in ARK Hills, and he started to point out salient details of the scheme.

Up on top of the main tower there was going to be an art museum, he said, pointing at his all-white ghostly model.

Would he repeat that, I asked? He and I were alone at one end of his big office, while his assistant sat at a respectful distance. I know how I felt at the time, I wanted to throw my notebook up in the air and shout for joy. Here was one guy in dear old big-biz Tokyo who wanted to have a ball.

Put an art museum on the top of his main tower in the next big Mori project in Tokyo? I must call London, I decided, and alert friends in the UK to this Tokyo move. This project—and we can all see

44 | BCCJ ACUMEN | MAY 2012

the outcome at Roppongi Hills today— was sure to appeal, I thought, to friends involved with the Tate. I must bring them together.

And so it came to pass. Not long after— this would have been 1997—Minoru and his wife, Yoshiko, were being shown around the future Tate Modern by Dennis Stevenson (now Lord Stevenson), thenchairman of the Trustees of the Tate, and

by Nicholas Serota (now Sir Nicholas), the director of the Tate, on a Saturday morning as arranged by the late Gilbert de Botton, a Tate trustee and of Global Asset Management fame, whom I had contacted.

At some point thereafter, Minoru dug deep in his pocket and made a generous bequest, sufficient for Serota to approve the naming of a room at Tate Modern after Minoru.

And in 2009, Minoru was appointed an honorary Knight Commander of the Order of the British Empire (KBE) for his significant contribution to collaboration between the UK and Japan in the arts— such as his support for the Royal Academy of Arts, Tate Britain and Tate Modern—which has greatly contributed to their success.

Many UK artists have been privileged to be able to present their work at the Mori Museum, including Mark Wallinger and Jim Lambie, while Sir Nicholas Serota serves on the International Advisory Committee of the Mori Art Museum.

All of which was very pretty. Yet, if you ask me, it is for his efforts in Shanghai that he will be best remembered by

Ambassador David Warren presented Minoru Mori with an honorary Knight Commander of the Order of the British Empire (KBE) in 2009.

Asians. Again, I travelled with Minoru and Yoshiko to Shanghai and I watched as he pressed the starting switch, and got things going in the Pudong section of the city.

What we now have is the Shanghai World Financial Center and it is 101 storeys high, that thing, the tallest tower in China.

Just amazing, and it would never have happened without Minoru to keep gingering at a project that threatened to putter out, and had to be frozen for six years in the middle, before final completion in 2008!

In all these years of hard work, though, it has been his powers of self-expression that made him so conspicuous a figure in Tokyo. If you want proof of that, see his Penguin book, just out under the title of Mori Building: The Making of Vertical Garden Cities (see opposite page).

There is a passage in which Minoru is expressing his frustration at the way things move here; so slowly, he wrote, as regards building permits, so slowly as regards approval processes, so slowly as regards everything.

Consider Shanghai by comparison, he said. He saw the centre of gravity of Asia coming up in China, rather than in Roppongi. Sure, there is lots going on here, but for a hot centre of action with a world touch about it, well listen to me, says Minoru from the far side, Shanghai has it.

Tokyo—and here he repeated himself (which he often did)—is a bit slow. I miss his voice, but if you want to get the timbre of it, try the Penguin for size.

Minoru, my respects!

BCCJ ACUMEN has one copy of each of these books to give away.

To apply, please send an email by 31 May to: editor@custom-media.com. Winners will be picked at random.

BOOKS

Reviews by Ian de Stains OBE

Creative Urban Lifestyles

Property tycoon Minoru Mori answers his critics “People who live in glass houses shouldn’t throw stones”. Shouldn’t there be a similar aphorism for people who build increasingly higher structures in earthquake zones? Were there such a thing, no doubt the late Minoru Mori (24 August 1934–8 March 2012) would have had a ready answer (see opposite page).

Mori’s vision of creating a world of vertical garden cities has been explored, admired and respected (and, it has to be said, in some quarters criticised) for decades, and as an articulate defender of that vision and what it meant for people living in cities, he frequently was the subject of media interviews.

Now there is a definitive Englishlanguage exploration of what Mori intended and how he believed it would radically change urban life-styles—and for the better.

Since the concept for the design of Mori Hills was launched, many issues have been raised in the public forum. Is the acquisition of large swathes of city land at the expense of small domestic and

commercial communities ethical? Do such large-scale projects damage or benefit the environment? And what about the social responsibilities of those who would seek to make revolutionary changes in terms of city planning?

In Mori Building, which comfortably addresses most of these issues and more, powerful and influential building tycoon Mori is not afraid to answer his critics in a well-researched and considered way.

It is especially interesting to read how the concept of double-deck lifts (two vertically connected cars that stop at two floors simultaneously) came into being.

Interestingly, at the time the Englishlanguage version of the book was being prepared, the Great East Japan Earthquake struck, and so the book incorporates a fascinating prologue that centres essentially on what happened at the Roppongi Hills complex. It makes for intriguing and reassuring reading.

Somehow comforting, albeit in a naive way, are seemingly small points, such as the fact that in the 51st-floor Roppongi

By Minoru Mori Penguin £20

Hills Club, not a single glass or piece of crockery was broken. At a time when we are told to expect further major tremors, it is greatly to be hoped that other building managements are as equipped and prepared as are the Mori Building Co.

Where Were You on 3/11?

Quake collection is unpredictable, uncomfortable, yet heartening

Edited by Elmer Luke and David Karashima Vintage Books ¥1,800

Certain events have such a profound effect that the dates associated with them become iconic. We all know where we were when JFK was assassinated; man first walked on the moon; planes hit the New York Twin Towers.

Now among these events, the Great Eastern Japan Earthquake, tsunami and nuclear meltdown are writ large— certainly for those of us who were on the ground then, for that ground shook as it had never in our lives shaken before, and few would wish it to so shake again.

There is no doubt that something profound happened to the national psyche as a result of the triple blow of 11 March 2011, but Japan has yet to come to terms with what that really means.

March Was Made of Yarn is an attempt to do that. A collection of non-fiction pieces, stories, poems and even manga, these reflections—on what has inevitably been named 3/11—make for sometimes uncomfortable, yet heartening reading.

The roll call of the writers and translators

involved is most impressive. Some, like Japanese novelist and filmmaker Ryuu Murakami, are already household names outside Japan, but even the less recognisable names have impeccable credentials—while Elmer Luke and David Karashima, as editors, have done a masterful job of bringing the whole together.

The collection is all the more powerful because few, if any, of the pieces are predictable; there is always something else going on beneath the surface. True, the disaster is the backdrop for the scenes that are played out, but the drama lies in often unexpected places. The tension on which storytelling depends, if it is good and holds the reader’s attention, is frequently cleverly generated in ways that are not immediately obvious at all times.

It is unlikely that many will have the stomach to digest this volume at one sitting, but it is an enthralling compilation of highly readable pieces that repeatedly draws in the reader.

MAY 2012 | BCCJ ACUMEN | 45

ARTS EVENTS Compiled by Shoko Nakamura shoko@custom-media.com

UNTIL 28 MAY “New Spot Prints”

Infamous for preserving animals in formaldehyde, controversial artist Damien Hirst exhibits about 25 spot woodblocks.

Art Gallery Creative Space 8 Shibuya Hikarie 8 Floor 2-21-1 Shibuya Shibuya-ku, Tokyo Free admission www.hikarie.jp/8/03_artgallery/ ELAIDOYL CHLORIDE © DAMIEN HIRST TOMIO KOYAMA GALLERY

FROM 2 JUNE Jane Eyre

Romantic drama, directed by American film director, writer and cinematographer Cary Joji Fukunaga, based on the screenplay of the 1847 Charlotte Brontë novel, the heroine of which has inspired generations of admirers.

© RUBY FILMS (JANE EYRE) LTD. / BRITISH BROADCASTING

Toho Cinemas Chanter Shinjuku Musashinokan http://janeeyre.gaga.ne.jp/

CORPORATION 2011. ALL RIGHTS RESERVED.

FROM 23 JUNE One Day

FREE TICKETS

Toho Cinemas Yurakucho http://oneday.asmik-ace.co.jp/

To apply for free tickets, please send us an email with your name, address and telephone number by 31 May: shoko@custom-media.com Winners will be picked at random

Based on the 2009 bestseller

by English writer of novels, screenplays and works for broadcast David Nicholls, the film features a couple who first meet on the day of their graduation and, thereafter, each year on the anniversary of that date to see what path their lives have taken.

Set in London and Paris, it has a sensational climax.

© 2011 FOCUS FEATURES LLC. ALL RIGHTS RESERVED.

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We are giving away five pairs of preview tickets 12 June 7:00pm (doors open 6:30pm) Nakano Zero Hall 2-9-7 Nakano Nakano-ku, Tokyo

FROM 21 APRIL Tinker, Tailor, Soldier, Spy

Based on the 1974 John le Carré novel about the London hunt for a Soviet spy. Premiered in 2011 and received three Academy Award nominations. British fashion designer Sir Paul Smith contributed to the film’s colour, mood and shooting.

Toho Cinemas Chanter Shinjuku Musashinokan From 21 April http://uragiri.gaga.ne.jp/

© 2010 STUDIOCANAL SA

15/18-19 JUNE Paul McCartney’s Liverpool Oratorio in Japan

Released in 1991, Paul McCartney’s classical music debut features tenor John Ken Nuzzo and soprano Barbara Bonney.

15 June Hyogo Performing Arts Centre 2-22 Takamatsu-cho Nishinomiya, Hyogo 18–19 June Bunkamura Orchard Hall 2-24-1 Dogenzaka Shibuya-ku, Tokyo http://pmlo-japan.com/ 7:00pm (doors open 6:15pm)

FREE TICKETS

We are offering two pairs of tickets for 18 June To apply, please send us an email with your name, address and telephone number by 31 May: shoko@custom-media.com Winners will be picked at random

DISCOUNT TICKETS!

Special discount for ACUMEN readers! ¥10,500 for Tokyo (¥2,000 off) and Hyogo (¥1,000 off) http://eplus.jp/jknsp/ (Japanese)

27/29 JULY Choir of St John’s College, University of Cambridge

Founded in 1511 and one of the finest collegiate choirs— loved around the world for its broadcasts, tours and recordings— it is on its first visit here since Andrew Nethsingh became director in 2007.

27 July Tokyo Opera City Concert Hall 7pm 03-5353-9999 29 July Suntory Hall 2pm 0570-55-0017 ¥4,000-6,000 http://www.facebook.com/ stjohhnschoircambridge2012japan http://www.sjcchoir.co.uk/

PHOTO: BEN EALOVEGA

MAY 2012 | BCCJ ACUMEN | 47

COMMUNITY VIP

BCCJ

PHOTOS: THE PRIME MINISTER’S OFFICE

On his first official visit to Japan, Prime Minister David Cameron arrived in Tokyo on 10 April with a 40-strong delegation of business representatives to boost trade opportunities.

The BCCJ 2012–2013 Annual General Meeting was held on 26 April at the Hilton Tokyo hotel in Shinjuku.

Meets Prime Minister Yoshihiko Noda at his office.

PHOTO: UK IN JAPAN/FCO

CAMPAIGN

Talks with British staff at Nissan Motor Co., Ltd. in Yokohama.

©BRITISH COUNCIL JAPAN

The Great campaign was launched at Shibuya crossing on 10 April to promote greater global understanding of UK industry, trade, tourism, sport and culture.

Gave his counterpart this Brompton folding bicycle.

48 | BCCJ ACUMEN | MAY 2012

As part of the Great campaign, the British Embassy Tokyo on 23 April showcased Mr. William Shakespeare’s Comedies, Histories & Tragedies: A Facsimile of the First Folio, 1623.

The event also was to celebrate the bard’s birthday.

COMMUNITY SEMINAR

©BRITISH COUNCIL JAPAN

ROUNDTABLE

The Daiwa Anglo-Japanese Foundation presented “Political Leadership in the UK and Japan”, on 24 April in London.

David Willetts, minister of state for universities and science at the Department for Business, Innovation and Skills, spoke at a British Council roundtable on higher education in Japan and the UK, titled “Public Engagement of Universities in the 21st century”, on 10 April at the British Embassy Tokyo.

PROMOTION

PHOTO: LUMINE YURAKUCHO

LAUNCH

Ben & Jerry’s, a division of Unilever, opened its flagship ice cream shop in Omotesando on 14 April. At the event were (from left): Ray Bremner, president and CEO of Unilever Japan Customer Marketing K.K.; Kay Hattori, of Edelman Japan; Lori Henderson, executive director of the BCCJ; and Jerry Greenfield, co-founder of Ben & Jerry’s.

MUSIC

Paul Williams, Yuko Hamamoto and Akina Akahoshi of Celtic Wind performed Irish, Welsh and Scottish folk music, on 5 May at the Foreign Correspondents’ Club of Japan.

Lumine Yurakucho and Hankyu Men’s Tokyo department stores held “British Week” featuring an English garden, traditional music and a Harry Potter exhibition, from 25 April to 8 May.

FASHION

“Kitty and the Bulldog: Lolita fashion and the influence of Britain” explores how UK fashion—notably Victoriana, Punk and Gothic—has influenced the Lolita cult fashion movement in Japan, at the Victoria and Albert Museum’s Toshiba Gallery until 27 January 2013.

MAY 2012 | BCCJ ACUMEN | 49

COMMUNITY FILM The 4th annual Terracotta Far East Film Festival ran at the Prince Charles Cinema in London’s Chinatown from 12 to 15 April. The Japanese films included: 1. From up on Poppy Hill 2. Monsters Club 3. The Woodsman and the Rain 4. Himizu

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2

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4 Fashion designer Sir Paul Smith hosted a private viewing of photography from Tinker, Tailor, Soldier, Spy, after which he talked about his creative contribution to the film. Actress Riko Narumi attended the event on 19 April at the designer’s shop in Marunouchi (see page 47).

ART Professor Edward Allington, head of Graduate Sculpture at the Slade School of Fine Art, presents “Trees, Small Fires and Japanese Joints”, until 25 May at the Daiwa Anglo-Japanese Foundation in London.

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EVER WONDER WHAT THE REST OF JAPAN IS LIKE?

Pioneers of tours to the great places of Japan you never knew existed. www.walkjapan.com