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Mon 11 April 2016

On the afternoon of March 31, an event jointly organized by the Embassy of the Netherlands and NCCJ at the Hotel Okura was attended by about 80 guests.

Professor Klaas Knot, who was in Tokyo together with a representative of the Dutch Ministry of Finance, for a meeting of the Financial Stability Board, was the speaker. Knot is President of De Nederlandsche Bank, and a member of the Governing and General Councils of the European Central Bank, as well as holding academic posts at the Universities of Groningen and Amsterdam. The title of his talk subject was “The Economic Outlook for the Euro Area”.

Following a “get-together” of the attendees over coffee and cakes, the session was kicked off by Mr. Marc Gerritsen, Head of Economic Cluster of the Embassy. Professor Knot was then introduced by Professor Sahoko Kaji, Professor of Economics, Keio University, who also moderated the Q&A session following Professor Knot’s presentation.

Knot’s talk took in many areas, starting with an overview of the current position, and then moving on to a discussion of the role played by monetary policy in the economic health of a country, the different factors at play in the economy of the euro area, and finishing with a comparison with the Japanese experience.

First he examined current growth in the eurozone, moving to the topic of inflation, and emphasising that there was no deflation within the eurozone, and very little inflation.

He mentioned the differences between the USA and the Eurozone, in that in the USA, capital is raised in equal amounts through banks and capital markets, while in the Eurozone, eighty percent of capital is raised through banks.

Knot emphasised that the “virtuous circle” is broken when there is a large amount of debt in the economy.

Real economic growth, he pointed out, must come from an increase in productivity, rather than from the labour force, the resources of which are almost exhausted.

As far as Japan is concerned, he drew an interesting distinction between overall GDP, and GDP per capita. In the latter case, Japan may actually be said to be growing!

In the Q&A portion of the meeting, some technical questions were asked about the cyclical nature of economic policies, the conflicts presented by the different targets demanded as results from central bankers, debt monetisation, and the relationship of GDP to debt, as well as the long-term prospects for the Eurozone.

Following the questions and a vote of thanks by NCCJ's chairman Hans van der Tang, there was a further opportunity for guests to meet and mingle, and to chat more informally with Professor Knot.

Event Photos

Fri 01 April 2016

The Netherlands Chamber of Commerce in Japan (NCCJ) is pleased to announce the launch of the 2016 Deshima Business Awards.

Fri 25 March 2016

On March 16, eighteen NCCJ members and their friends boarded the Tsukuba Express at Akihabara to visit the JAXA (Japan Aerospace Exploration Agency ) Space Center at Tsukuba.

Tue 22 March 2016

On April 16th our member DSM, one of the lead sponsors of the Oranda Jima Foundation, will organize a charity event “Let’s cling together”. This event is a musical happening in which 5 amateur bands each perform for about 30-40 minutes. Part of the proceedings of the event are donated to Orandajima / Yamadamachi in Iwate Prefecture. This is the fifth time this event is held since the big earthquake in 2011 and it is supported by the NCCJ because of the involvement of the NCCJ to Oranda-jima Foundation.

The venue is Bauhaus in Roppongi, the door opens at 16.00 hrs., the event starts at 16.30 hrs. and finishes at 21.00 hrs. See flyer below which contains a map of the location (unfortunately only in Japanese). The entrance fee is 2,000 Yen (including one drink and also some food is provided) if the ticket is bought at the door, 1,600 Yen if the ticket is bought in advance. Reservation of tickets can simply be done by sending an e-mail to the organizer Kenichi Nakamura ( Kenichi.Nakamura@dsm.com ). The only information requested is name, phone number and the number of tickets required. Payment is in cash only at the venue.

Event Flyer (Front side/Back side)

Thu 10 March 2016

On February 24, Takashi Yoneyama, a lawyer with TMI Associates, and his colleagues from ARQIS Foreign Law Office, Dr. Tobias Schiebe and Ulrich Kirchhoff, discussed the new Japanese individual numbering system (“My Number “ or “MN”) and the amendment of the Personal Data Protection Act in Japan.

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