Word: shiokawa
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...healthier statistics are proof that his structural economic reforms are working. As a sign of the increasing political capital that the rebound has provided him, Koizumi quickly shuffled his Cabinet, reappointing his controversial finance czar Heizo Takenaka and replacing the ailing 81-year-old Finance Minister Masajuro Shiokawa with Sadakazu Tanigaki, a younger, more reform-minded legislator...
...weak yen makes Japanese products cheaper and therefore more competitive abroad. The yen's relationship to the dollar is particularly important, because the U.S. is a primary customer base for heavyweight Japanese companies, such as Sony and Toyota. Under former Finance Minister Shiokawa, the government spent in just the first 8 1/2 months of the year the unprecedented equivalent of $110 billion to buy dollars on the open market, in an attempt to keep the yen from climbing against a weakening greenback...
...uncertain that Japan can continue to prop up its exporters through currency intervention. Immediately after the G-7 meeting, the yen appreciated to 111 per dollar, its strongest level in nearly three years. Since 115 yen per dollar, a much weaker level, was widely assumed to be Shiokawa's target, currency traders are now waiting for Tanigaki, the new Finance Minister, to show his hand. Although he has already said that exchange rates "should stably reflect fundamentals" and that he would "take action to make sure that happens," Tanigaki hasn't yet demonstrated how much, if at all, he will...
...Last week the administration acknowledged the economy remains fragile and a rebound is by no means assured. "I'm not optimistic about the data," conceded Finance Minister Masajuro Shiokawa. No matter how you add them, numbers alone don't change a thing...
...Prime Number $500 billion is how much Japanese Finance Minister Masajuro Shiokawa mistakenly said Japan would give poor Asian countries. The real number was $50 million...