Category Archives: Research

【Research】Year 2016 Marks a Turnaround for Japan’s Financial Policy — Highlights of Japanese retail investors’ markets

January 1st, 2017 Norinchukin Research Institute Co., Ltd. SHIGETO Yukari, Senior Chief Researcher ■Abstract The Bank of Japan (BOJ) made an unprecedented move towards negative interest rates in January 2016 in an attempt to invigorate the economy. This caused Japan’s household financial assets to dip 0.4% in March from a year earlier, their first decline since September 2009. They fell a further 1.7% in June, accelerating the pace of decline. The introduction of negative interest rates also eroded Japanese banks’ profitability from lending and investing in securities. In the first half of fiscal 2016, 47 out of 64 regional banks reported declines in net income, and 38 of them recorded … Continue reading

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【Research】Structural change in core farmers engaged in land-extensive farming and challenges faced by agricultural cooperatives’ group in Japan

January 1st, 2017 Norinchukin Research Institute Co., Ltd. UCHIDA Takio, Senior Chief Researcher ■Abstract From 2015 Census of Agriculture and Forestry, we can find out that farmers belonging to so-called Showa single-digit generation, who were born in the first decade of the Showa period (1926 and 1934) and sustained post-war Japanese agriculture, increasingly retired from farming in a very short period. (1) This phenomenon is observed in a beginning of decreases not only in commercial farm households, but also in small-scale farm households (a total number of non-commercial farm households and land tenure non-farm households). On the other hand, (2) organized farm management entities, which became cultivators of farm lands … Continue reading

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【Research】A study of the Latest Amendments to the Agricultural Cooperatives Act of Japan

October, 1st. 2015 Norinchukin Research Institute Co., Ltd. AKEDA Tsukuru, Visiting Fellow ■Abstract  The latest amendments to the Agricultural Cooperatives Act has been carried out by amending wide-ranged provisions of the Act, although some of them were not subject to arguments at the deliberations of the Diet. It contains a number of provisions which were deemed important from a practical point of view.  Many stakeholders, however, have found it difficult for them not only to understand the necessity of the latest amendments to the Act, but also to accept it forthrightly. No such amendment has ever been found in the history of the Act. The cause lies in the legislative … Continue reading

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