As part of ¥15 trillion (US$149.5 billion) of fresh stimulus measures unveiled on Friday, Japan hopes to raise the percentage of its exports of “soft power” — manga, animated films, video games and pop music — from 2 percent of the total to 18 percent over the next decade, creating half a million jobs.
“Japanese content, such as anime ... video games and fashion, draw attention around the world,” Japanese Prime Minister Taro Aso — a self-confessed manga addict — told reporters as he waved Chinese and Taiwanese magazines featuring Japanese pop stars.
“Unfortunately, this ‘soft power’ is not being linked to business overseas ... By linking the popularity of Japan’s ‘soft power’ to business, I want to create a ¥20 [trillion to] ¥30 trillion [US$200 billion to US$300 billion] market by 2020 and create 500,000 new jobs,” the prime minister said.
Cynics will view the move as an election ploy as Aso attempts to build on a rise in support after North Korea’s rocket launch and the arrest of a senior aide to the main opposition leader, Ichiro Ozawa.
Manga fans lined the streets to support Aso’s bid for the Liberal Democratic Party leadership last autumn, and novelty goods bearing his likeness sell well in Tokyo’s otaku (geek) district, Akihabara.
The cultural affairs agency has reportedly requested ¥12 billion for a national media art center that would promote Japan’s pop culture overseas.
The manga genre comprises every possible theme, from tales for children, history and politics to sports and pornography.
ADVANCED: Previously, Taiwanese chip companies were restricted from building overseas fabs with technology less than two generations behind domestic factories Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp, would no longer be restricted from investing in next-generation 2-nanometer chip production in the US, the Ministry of Economic Affairs said yesterday. However, the ministry added that the world’s biggest contract chipmaker would not be making any reckless decisions, given the weight of its up to US$30 billion investment. To safeguard Taiwan’s chip technology advantages, the government has barred local chipmakers from making chips using more advanced technologies at their overseas factories, in China particularly. Chipmakers were previously only allowed to produce chips using less advanced technologies, specifically
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
VERTICAL INTEGRATION: The US fabless company’s acquisition of the data center manufacturer would not affect market competition, the Fair Trade Commission said The Fair Trade Commission has approved Advanced Micro Devices Inc’s (AMD) bid to fully acquire ZT International Group Inc for US$4.9 billion, saying it would not hamper market competition. As AMD is a fabless company that designs central processing units (CPUs) used in consumer electronics and servers, while ZT is a data center manufacturer, the vertical integration would not affect market competition, the commission said in a statement yesterday. ZT counts hyperscalers such as Microsoft Corp, Amazon.com Inc and Google among its major clients and plays a minor role in deciding the specifications of data centers, given the strong bargaining power of
TARIFF SURGE: The strong performance could be attributed to the growing artificial intelligence device market and mass orders ahead of potential US tariffs, analysts said The combined revenue of companies listed on the Taiwan Stock Exchange and the Taipei Exchange for the whole of last year totaled NT$44.66 trillion (US$1.35 trillion), up 12.8 percent year-on-year and hit a record high, data compiled by investment consulting firm CMoney showed on Saturday. The result came after listed firms reported a 23.92 percent annual increase in combined revenue for last month at NT$4.1 trillion, the second-highest for the month of December on record, and posted a 15.63 percent rise in combined revenue for the December quarter at NT$12.25 billion, the highest quarterly figure ever, the data showed. Analysts attributed the