In this edition of TPR News: Fukuda to reshuffle the Cabinet; New Komeito calls for elections or a new majority leader; the DPJ presidential race heats up; industrial production and exports down, consumer prices up; Keirin involved in shady business; Nova’s Sahashi avoids a second indictment; and more.

Politics

The Diet is out of session, but politics continues apace.

Although the Fukuda Cabinet’s approval ratings have recovered a bit from their sub-20% nadir near the end of the ordinary Diet session, reaching 24% in the latest Asahi poll, the Prime Minister’s position is not looking much more secure, with his coalition partners and some members of his own LDP dropping hints that they don’t have confidence in Fukuda to lead them to victory in the general election that can occur no later than September of next year. (Read on …)

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Welcome to the 14th edition of BizCast Japan. In this edition of the show, co-hosts Albrecht Stahmer and Ken Worsley begin with a follow-up from the previous show. The new Fukutoshin subway line has opened in Tokyo, and Shinjuku department stores appear to have been the early winners, with strong jumps in sales reported over the first weekend.

After that, the discussion turns to the release of the iPhone in Japan, which happened the day before this show was recorded. The iPhone sold out on its first day, and although neither Apple nor Softbank are giving exact numbers, it seems as though the iPhone is off to a running start in Japan. Will the iPhone evolve into a must have product or will its lack of certain features ultimately hurt it’s potential to penetrate the Japanese market?

After talking about the iPhone, our hosts turn to a discussion of real estate in Tokyo, including the newly announced plans by Mori Building for a 46 story tower in Roppongi. Then, talk moves on to look at last week’s G8 summit, which was a complete disappointment. After that, Nissan’s sales strategy is considered and Shinsei’s decision to acquire GE’s consumer finance business in Japan is looked at. Finally, our hosts consider recent data showing deteriorating consumer sentiment in Japan, and speculate on whether consumer confidence has bottomed out or whether we might be a new all-time low next month.

As always, thank you for listening.

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