New Year's Day, 1 January; Adults' Day, 15 January; Commemoration of the Founding of the Nation, 11 February; Vernal Equinox Day, 20 or 21 March; Greenery Day, 29 April; Constitution Day, 3 May; Children's Day, 5 May; Respect for the Aged Day, 15 September; Autumnal Equinox Day, 23 or 24 September; Health-Sports Day, 10 October; Culture Day, 3 November; Labor-Thanksgiving Day, 23 November; Emperor's Birthday, 23 December.

Situated off the eastern edge of the Asian continent, the Japanese archipelago is bounded on the n by the Sea of Okhotsk, on the e and s by the Pacific Oceanon the sw by the East China Sea, and on the w by the Sea of Japan.

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The total area of Japan issq kmsq mi. Comparatively, the area occupied by Japan is slightly smaller than the state of California. It extends 3, km 1, mi ne — sw and 1, km 1, mi se — nw and has a total coastline of 29, km 18, mi.

Each of the five districts consists of a main island of the same name and hundreds of surrounding islands. Of the thousands of lesser islands, four are of significance: Two groups of islands returned to Japan by the United States in are located some 1, km mi due east of the Ryukyus: This island is divided into five regions: These islands and the Kuril Islands are occupied by Russiawhose claims are not formally recognized by Japan.

The Japanese islands are the upper portions of vast mountains belonging to what is sometimes called the Circum-Pacific Ring of Fire, which stretches from Southeast Asia to the Aleutian Islands. Landforms are steep and rugged, indicating that, geologically, Japan is still a young area. There are 25 mountains with peaks of over 3, m 9, ft.

The highest is the beautiful Mt. Fuji Fuji-sanat 3, m 12, ft. Japan has volcanoes including the dormant Mt. Fujiof which about 20 remain active. Most plains are located along the seacoast and are composed of alluvial lowlands, diluvial uplands, and low hills. The largest is the Kanto Plain Tokyo Bay regionabout 6, sq km 2, sq mi. The population is heavily concentrated in these limited flat areas.

Rivers tend to be short and swift. The largest lake is Lake Biwa, near Kyoto, with an area of sq km sq mi. Good harbors are limited because in most areas the land rises steeply out of the sea. Yokohama, Nagoya, and Kobe are Japan's most prominent harbors. The Ryukyu Islands, among which Okinawa predominates, are the peaks of submerged mountain ranges. They are generally hilly or mountainous, with small alluvial plains. The country experiences an average of 1, minor shocks per year.

One of the world's greatest recorded natural disasters was the Kanto earthquake ofwhen the Tokyo-Yokohama area was devastated and upward of 99, persons died. Ina 7. On October 23,a series of seven earthquakes in two hours caused severe damage in northern Japan; at least 16 people were killed and over were injured. In the days that followed, at least lesser tremors were felt. Japan is located at the northeastern edge of the Asian monsoon climate belt, which brings much rain to the country.

The weather is under the dual influence of the Siberian weather system and the patterns of the southern Pacific; it is affected by the Japan Current Kuroshioa warm stream that flows from the southern Pacific along much of Japan's Pacific coast, producing a milder and more temperate climate than is found at comparable latitudes elsewhere. The junction of the two currents is a bountiful fishing area. The Tsushima Current, an offshoot of the Japan Current, transports warm water northward into the Sea of Japan.

Throughout the year, there is fairly high humidity, with average rainfall ranging by area from cm to over cm 39 — 98 in. Autumn weather is usually clear and bright. Winters tend to be warmer than in similar latitudes except in the north and west, where snowfalls are frequent and heavy.

Spring is usually pleasant, and the summer hot and humid. There is a rainy season that moves from south to north during June and July. The Ryukyus, although located in the temperate zone, are warmed by the Japan Current, giving them a subtropical climate. The typhoon season runs from May through October, and each year several storms usually sweep through the islands, often accompanied by high winds and heavy rains.

In SeptemberTyphoon Nabi hit southern Japan causing the deaths of at least 77 people and temporarily displacing more thanThe ground flora includes plants common to Eurasia and North America. Common conifers are cypress, umbrella pine, hemlock, yew, and white pine. On the lowlands, there are live oak and camphor trees, and a great mixture of bamboo with the hardwoods.

Black pine and red pine form the typical growth on the sandy lowlands and coastal areas. Sugarcane and citrus fruits are found throughout the limited lowland areas, with broadleaf trees in the lower elevations and a mixture of evergreen and deciduous trees higher up. Th roughout these islands are luxuriant growths of bamboo.

About species of fauna have been identified. The only indigenous primate is the Japanese macaque, a small monkey found in the north. There are 32 carnivores, including the brown bear, ermine, mink, raccoon dog, fox, wolf, walrus, and seal. There are breeding bird species and 8 species of reptiles. Japan's waters abound with crabs and shrimp; great migrations of fish are brought in by the Japan and Kuril currents. There are large numbers and varieties of insects. The Japanese beetle is not very destructive in its homeland because of its many natural enemies.

Rapid industrialization has imposed severe pressures on the environment. Japan's Basic Law for Environmental Pollution Control was enacted in and the Environment Agency was established four years later. Air pollution is a serious environmental problem in Japan, particularly in urban centers. Toxic pollutants from power plant emissions have led to the appearance of acid rain throughout the country. In the mids, Japan had the world's fourth-highest level of industrial carbon dioxide emissions, which totaled 1.

Inthe total of carbon dioxide emissions was at 1. Air quality is regulated under the Air Pollution Control Law of ; bycompensation had been provided to 91, air-pollution victims suffering from bronchitis, bronchial asthma, and related conditions. However, the "polluter pays" principle was significantly weakened in as a result of years of business opposition.

Nationwide smog alerts, issued when oxidant density levels reach or exceed 0. Increase in acid levels due to industrial pollutants has affected lakes, rivers, and the waters surrounding Japan. Other sources of pollution include DDT, BMC, and mercury.

Environmental damage by industrial effl uents has slowed since the promulgation of the Water Pollution Control Law ofbut there is still widespread pollution of lakes and rivers from household sources, especially by untreated sewage and phosphate-rich detergents. Factory noise levels are regulated under a law. Airplanes may not take off or land after 10 pm and the Shinkansen trains must reduce speed while traveling through large cities and their suburbs. Most of the nation's forests, which play a critical role in retarding runoff and soil erosion in the many mountainous areas, are protected under the Nature Conservation Law ofand large areas have been reforested.

Parks and wildlife are covered by the National Parks Law of However, since most of its trading partners, including the United States, supported the measure and threatened retaliatory measures if whaling continued, Japan finally agreed to comply with the ban. According to a report issued by the International Union for Conservation of Nature and Natural Resources IUCNthreatened species included 37 types of mammals, 53 species of birds, 11 types of reptiles, 20 species of amphibians, 27 species of fish, 25 types of mollusks, 20 species of other invertebrates, and 12 species of plants.

Endangered species in Japan included the Ryukyu sika, Ryukyu rabbit, Iriomote cat, Southern Ryukyu robin, Okinawa woodpecker, Oriental white stork, short-tailed albatross, green sea turtle, and tailless blue butterfly. The Ryukyu pigeon, Bonin thrush, Japanese sea lion, and Okinawa flying fox have become extinct. The population of Japan in was estimated by the United Nations UN at ,, which placed it at number 10 in population among the nations of the world.

There were 96 males for every females in the country. The projected population for the year was , The population density was per sq km per sq mi. Japan is the only Asian country thus far with a birthrate that has declined to the level of industrial areas in other parts of the world.

According to the UN, the annual population rate of change for — 10 was expected to be 0. The estimated 10 births per 1, population in compares with about births per 1, population in The steep drop since has been attributed to legalization of abortion, increased availability of contraceptives, and the desire to raise living standards.

Even with the low birth rate, Japan is one of the most densely populated countries in the world. Urban density rates were 14, per sq mi 5, per sq mi. The capital city, Tokyo, had a population of 34, in that year. Other major metropolitan areas and their estimated populations include Osaka, 11,; Nagoya, 3,; Kitakyushu, 2,; Sapporo1,; Kyoto, 1,; Hiroshima1,; and Sendai,Japanese nationals living in other countries totaled more thanin the s, including somein the United States and overin Brazil.

Emigration continued after the war, encouraged by government policy as a way of relieving population pressure. By the mids, emigration had considerably decreased, as economic opportunities and living standards in Japan improved. From the s — s, however, the number of emigrants rose, from 12, in to 34, in to 82, in Immigration to Japan is generally small-scale, although the illegal entry of workers from neighboring countries has come to be regarded as a problem.

Since10, Indo-Chinese refugees have settled in Japan. The total number of legal migrants who entered or departed Japan in was 44,, an increase of 3. The total number of migrants into Japan was 22,, and the total number of people who left Japan was 22, The number of Japanese migrants increased by 1. In the mids, there were 1. Because citizenship is based on nationality of parent rather than place of birth, registered aliens may have spent their entire lives in Japan.

According to Migration NewsJapan continued to struggle with Zainichi, a term that literally means "to stay in Japan," but is used as a shorthand for Koreans who came to Japan during Japan's colonial rule, and their descendants. Zainichi are often considered outsiders in both Japan and Korea. Their numbers are reduced as more become naturalized Japanese.

In there wereZainichi in Japan. Inthe net migration rate was zero migrants per 1, population. Most such migrants flocked to the three major population centers — the Tokyo, Osaka, and Nagoya metropolitan areas. As pollution and congestion in these areas increased, the government instituted programs to decentralize industry by directing new growth to smaller cities of the north and west, and also began efforts to improve rural living conditions and employment opportunities.

Japan's Ministry of Internal Affairs and Communications reported that the number of inter-prefectural migrants had decreased steadily from — ; in inter-prefectural migration was 2. According to Migration NewsJapan began to allow temporary workers inand by lifted almost all remaining restrictions on the categories of jobs where temporary workers were permitted.

InJapan had an estimatedforeign workers, 1. Since the s some Myanma have sought asylum in Japan, usually on the grounds of religious persecution as Christians in a Buddhist nation. In Japan had 1, refugees and seeking asylum, mainly from Turkey and Myanmar.

Although it is known that the Japanese are descended from many varied peoples of Asiathere is no agreement as to origins or specific ethnic strains. In physical characteristics, the Japanese belong to the Mongoloid group, with faint admixtures of Malayan and Caucasoid strains.

Waves of migration from the continental hinterland reached Japan during the end of the Paleolithic period, blending into a complicated and diverse ethnic, linguistic, and cultural system. It is believed that the Japanese have their roots in the Old Stone Age race of at least 30, bc. A major migration appears to have taken place in the 2nd and 3rd centuries ad, and by the 4th century this group, called the Yamato clan, established a monarchy in the present Nara prefecture.

Other ethnic strains may have come from Indonesia and China in the south, Korea in the west, and Siberia and Alaska in the north. The one remaining distinct ethnic group in Japan is the Ainu.

There is no agreement as to their origins; their current population is less than 20, Japanese is the official language. Most linguists agree that Japanese is in a language class by itself, although there is some inconclusive evidence that traces it to the Malayo-Polynesian language family.

In vocabulary, Japanese is rich in words denoting abstract ideas, natural phenomena, human emotions, ethics, and aesthetics, but poor in words for technical and scientific expression. For these latter purposes, foreign words are directly imported and written in a phonetic system katakana. A distinct characteristic is the use of honorifics to show proper respect to the listener and his social status.

Written Japanese owes its origin almost entirely to Chinese forms. Having no indigenous script, the Japanese since the 5th century have used Chinese characters, giving them both an approximate Chinese pronunciation and a Japanese pronunciation.

In addition, the Japanese invented phonetic symbols kana in the 9th century to represent grammatical devices unknown to the Chinese. Attempts have been made to reduce the complexity of the written language by limiting the number of Chinese characters used. The government has published a list of 1, characters for use in official communications. Newspapers adhere to this list. According to a report by the Agency for Cultural Affairs, about Religious identities are not mutually exclusive, however, and many Japanese maintain affiliations with both a Buddhist temple and a Shinto shrine.

Shinto became an instrument of nationalism afteras the government officially sponsored and subsidized it, requiring that it be taught in the schools and that all Japanese belong to a state Shinto shrine. After World War II, Shinto was abolished as a state religion, and the emperor issued an imperial prescript denying divine origin. Today, Shinto exists as a private religious organization. Buddhism is considered by some the most important religion in Japan. Introduced through China and Korea around adBuddhism spread rapidly throughout Japan and has had considerable influence on the nation's arts and its social institutions.

There are 13 sects shu and 56 denominations, the principal shu being Tendai, Shingon, Jodo, Zen, Soto, Obaku, and Nichiren. Japanese Buddhism was founded on the Mahayana school, which emphasizes the attainment of Buddhahood, whereas the Hinayana Buddhism of India emphasizes obedience to commandments and personal perfection.

The great temples and gardens of Japan, the famous Japanese tea ceremony chanoyuand Japanese flower-arranging arts ikebana owe their development to the influence of Buddhism. Christianity, introduced to Japan by the Jesuit St. Francis Xavier inwas first encouraged by feudal lords but then banned inoften under penalty of death. After that time, a unique sect known as "hidden Christians" developed, with no tradition of churches or public displays of faith and a syncretic doctrine that incorporated local ideas and history.

The prohibition against Christianity was in force untilfollowing the reopening of Japan to international relations in Following World War II, when the emperor lost his claim to divinity, some Japanese gave up Shinto and converted to Christianity or Judaism.

After World War II, a considerable number of new religious groups sprouted up. One of these, the Soka-Gakkai, a Buddhist offshoot, controlled a political party Komeitothe third-strongest political group in Japan, until politics and religion were officially separated in In addition to the established and new religions, Confucianism, an ethical system originating in China, has strongly influenced Japanese society since the earliest periods, providing underpinnings for some characteristically Japanese attitudes.

Despite its rugged terrain, Japan has a highly developed transportation system. Of that total, 13, km 8, mi were electrified. Standard gauge lines totaled 3, km miall of which are electrified. The government-owned Japan National Railways JNR was privatized in April and divided into six railway companies. Feeding into these six lines were other private railroads.

Like their counterparts elsewhere, Japan's rail lines face increasing competition from automotive, sea, and air transport, as well as rising operating costs.

Inthe first section of the northern Shinkansen line, between Tokyo and Omiya, began operations. By far the longest railway tunnel in the world, the Subway lines serve nine cities — Tokyo, Osaka, Nagoya, Kobe, Yokohama, Sapporo, Kyoto, Fukuoka, and Sendai. There are km mi of track, with km mi in Tokyo's 11 lines. Sincedown-town Tokyo has also been linked with that city's Haneda Airport by a monorail transport system, and several other monorails have been put into operation.

In addition, a 7 km 4. Roads have become the most important means of domestic transport. Motor vehicles in numbered 55, passenger cars and 17, commercial vehicles, up from 25, and 8,, respectively, in To speed traffic flow, a total of 6, km 4, mi of expressways were open to traffic in In total, there were 1, million kmmi of roadways, of which aboutkmmi were paved. Japan is one of the world's great maritime nations.

The chief ports are Yokohama for TokyoNagoya, and Kobe. InJapan's merchant fleet included ships of 1, GRT or more, totaling 10, GRT. SinceJapan has emerged as the world's leading shipbuilder, but output declined in the late s and s in the face of a worldwide recession and increased competition from the Republic of Korea ROK.

Although Japan had 1, km 1, mi of navigable inland waterways, as ofthey are not used by ocean-going vessels, which prefer to use the country's inland seas. Japan had an estimated airports in As of a total of had paved runways, and there were also 15 heliports. Principal international facilities include Kansai International at Osaka and New Tokyo International at Tokyo.

Japan Air Lines JALthe nation's major domestic and international airline, began operations in and inaugurated international flights in All Nippon Airways, established inbegan as a domestic system serving smaller areas of the country and acting as a feeder line to JAL but now serves overseas routes; it began to carry freight in InJapan's airlines performed 7, million freight ton-km. In that same year, about Archaeological discoveries revealed the existence of Paleolithic humans in Japan when the islands were connected to the Asian continental landmass.

Little is known about the origins of the earliest Japanese beyond the fact that they migrated from the continent. Tradition places the beginning of the Japanese nation in bc with the ascendance to the throne of the legendary Emperor Jimmu.

It is generally agreed, however, that as the Yayoi developed, the Yamato clan attained hegemony over southern Japan during the first three or four centuries of the Christian era and established the imperial family line. Earlier contacts with Korea were expanded in the 5th century to mainland China, and the great period of cultural borrowing began: Japanese leaders adapted the Chinese governmental organization but based power upon hereditary position rather than merit.

The first imperial capital was established at Nara in Inthe imperial capital was moved to Heian Kyotowhere it remained untilwhen Tokyo became the nation's capital. Chinese influence waned as native institutions took on peculiarly Japanese forms. Outside court circles, local clans gained strength, giving rise to military clan influence over a weakening imperial system.

The Minamoto clan gained national hegemony as it defeated the rival Taira clan inand its leader, the newly appointed Yoritomo, established a military form of government at Kamakura ina feudal system that lasted for nearly years. Under the shogunate system, all political power was in the hands of the dominant military clan, with the emperors ruling in name only.

The Kamakura period was followed by the Ashikaga shogunate — which saw economic growth and the development of a more complex feudalism. For over years, until the end of the 16th century, continuous civil war among rival feudal lords daimyo ensued. During this time, the first contact with the Western world took place with the arrival in of Portuguese traders, and with that, the first guns were imported. Six years later, St. Francis Xavier arrived, introducing Christianity to Japan.

Bythe country was pacified and unified by Toyotomi Hideyoshi, a peasant who had risen to a top military position. Hideyoshi also invaded Korea unsuccessfully, in — 93 and indying during the second invasion. Ieyasu Tokugawa consolidated Hideyoshi's program of centralization.

Appointed shogun inTokugawa established the Tokugawa shogunate military dictatorshipwhich was to rule Japan until the imperial restoration in Tokugawa made Edo modern Tokyo the capital, closed Japan to foreigners except Chinese and Dutch traders who were restricted to Nagasaki and occasional Korean diplomats, and banned Christianity.

For the next years, Japan enjoyed stability and a flowering of indigenous culture, although from the end of the 18th century onward, Japan came under increasing pressure from Western nations to end its isolationist policy.

The arrival of Commodore Matthew C. Perry from the United States in — with his famous "black ships" — started a process that soon ended Japanese feudalism. The following year, Perry obtained a treaty of peace and friendship between the United States and Japan, and similar pacts were signed with Russia, Britainand the Netherlands based on the principle of extraterritoriality. A decade of turmoil and confusion followed over the question of opening Japan to foreigners.

A coalition of southern clans led by ambitious young samurai of the Satsuma and Choshu clans forced the abdication of the Tokugawa shogun and reestablished the emperor as head of the nation. InEmperor Mutsuhito took over full sovereignty.

This Meiji Restoration, as it is known, signaled the entry of Japan into the modern era. Intensive modernization and industrialization commenced under the leadership of the restoration leaders. A modern navy and army with universal military conscription and a modern civil service based on merit formed the foundation of the new nationstate. The government undertook the establishment of industry, by importing technological assistance.

Ina new constitution established a bicameral legislature Diet with a civil cabinet headed by a prime minister responsible to the emperor. By the end of the 19th century, irreconcilable territorial ambitions brought Japan into open conflict with its much larger western neighbors. The Sino-Japanese War — 95 was fought over the question of control of Korea, and the Russo-Japanese War — 05 over the question of Russian expansion in Manchuria and influence in Korean affairs.

Japan emerged victorious in both conflicts, its victory over the Russians marking the first triumph of an Asian country over a Western power in modern times. Japan received the territories of Taiwan and the southern half of Sakhalin Island, as well as certain railway rights and concessions in Manchuria and recognition of paramount influence in Korea. The latter became a Japanese protectorate in and was annexed by Japan in During the Taisho era — 26Japan participated in a limited way in World War I, in accordance with the Anglo-Japanese Alliance of Japan was one of the Big Five powers at the Versailles Peace Conference and in was recognized as the world's third-leading naval power at the Washington Naval Conference.

The domestic economy developed rapidly, and Japan was transformed from an agricultural to an industrial nation. Economic power tended to be held by the industrial combines zaibatsucontrolled by descendants of those families that had instituted the modernization of the country decades earlier. Inuniversal manhood suffrage was enacted, and political leaders found it necessary to take into consideration the growing influence of parties.

InEmperor Hirohito ascended the throne beginning the Showa era. By the s, democratic institutions atrophied and the military-industrial complex became dominant. With severe social distress caused by the great depression, an ultranationalist ideology emerged, particularly among young army officers. Acting independently of the central government, the military launched an invasion of Manchuria ineventually establishing the puppet state of Manchukuo.

Ina patriotic society assassinated the prime minister, bringing an end to cabinets formed by the majority party in the Diet. Japan withdrew from the League of Nations which had protested the Manchurian takeover instarted a full-scale invasion of China the Second Sino-Japanese War, — 45and signed the Anti-Comintern pact with Germany in and a triple alliance with Germany and Italy in The military leadership, viewing the former USSR and the United States as chief barriers to Japanese expansion, negotiated a nonaggression pact with the USSR in Aprilthus setting the stage for the attack on Pearl Harbor and other Pacific targets on 7 December of that year.

Thereafter, Japanese military actions took place in the context of World War II. With its capture of the Philippines on 2 JanuaryJapan gained control of most of East Asia, including major portions of China, Indochina, and the southwest Pacific. Japanese forces, however, could not resist the continued mobilization of the US military.

A series of costly naval campaigns — including battles at Midway, Guadalcanal, and Leyte Gulf — brought an end to Japanese domination in the Pacific. Bythe Philippines had been recaptured, and the stage was set for a direct assault on Japan.

After the US troops captured Okinawa in a blood battle, US president Harry S. Truman argued that a full invasion of Japan would prove too costly and decided on aerial attacks to force Japan into surrendering. After four months of intense bombardment with conventional weapons, the United States dropped an atomic bomb on Hiroshima on 6 August and a second bomb on Nagasaki on 9 August.

An estimatedpersons died from the two attacks and the subsequent effects of radiation. In addition, all major cities, with the exception of Kyoto, were destroyed during the war and food and supply shortages continued for several years after the surrender. On 14 August, Japan accepted the Potsdam Declaration for unconditional surrender with formal surrender documents signed aboard the USS Missouri on 2 September. After the surrender over Japanese military officials committed suicide and hundreds more faced war crimes prosecution.

Emperor Hirihito was not declared a war criminal and although he lost all military and political power he retained his royal title and became a symbol of the state until his death in The subsequent occupation — 52under the direction of General Douglas MacArthurSupreme Commander for the Allied Powers, began a series of ambitious reforms. Political reforms included the adoption of a parliamentary system of government based on democratic principles and universal suffrage, a symbolic role for the emperor as titular head of state, the establishment of an independent trade union, and the disarmament of the military.

Economic reforms consisted of land reform, the dissolution of the zaibatsu, and economic and political rights for women. A new constitution was promulgated on 3 November and put into force on 3 May Heavy economic aid from the United States and a procurement boom produced by the Korean Warcoupled with a conservative fiscal and monetary policy allowed the Japanese to rebuild their country. The Japanese economy rapidly recovered, and the standard of living quickly surpassed the prewar level by a substantial margin.

The state of war between the Western powers and Japan was formally ended by the San Francisco Peace Treaty, signed in September by 56 nations. The allied occupation ended officially when the treaty went into effect in April Japan renounced claims to many of its former overseas territories, including such major areas as Taiwan and Korea.

The Ogasawara Bonin Islands and Kazan Volcano Islands were returned to Japanese sovereignty in June InJapan and the former USSR agreed to establish diplomatic relations. In Japan was elected to UN membership. A revision of the defense treaty with the United States, under which a limited number of troops were to remain in Japan for defense purposes, was signed amid growing controversy in On 22 JuneJapan signed a treaty with South Korea normalizing relations between the two countries.

The US-Japanese Security Treaty was renewed indespite vigorous protest by the opposition parties and militant student organizations. InJapan moved to establish full diplomatic relations with the People's Republic of China. Formal diplomatic links with the Nationalist Chinese government on Taiwan were terminated by this move, but Japan's economic and cultural links with Taiwan nonetheless have survived virtually intact.

While Japan defined its new role in East Asian affairs, its remarkable economic expansion raised it to the level of a major trading power. Based on strong government support of export industries, political stability under the Liberal-Democratic Party LDPand public policy guidance from a powerful bureaucracy, Japan experienced a dramatic rise from the ruins of World War II. Init surpassed the Federal Republic of Germany FRG to stand second after the United States among non-Communist nations in total value of GNP.

The oil crisis of — a combination of shortages and rising prices — revealed the crack in Japan's economic armor, the lack of domestic petroleum resources.

A second oil crisis during the late s was met by a reappraisal of Japan's dependence on foreign fuels and the institution of long-range programs for energy conservation and diversification. These oil crises led to a shift in the economy and to the creation of high-technology industries, most notably electric and electronic appliances. The yen declined in value in the early s, causing Japanese exports to become cheaper in overseas markets and leading to huge trade surpluses with the United States and other leading trading partners, who began to demand that Japan voluntarily limit certain exports and remove the barriers to Japan's domestic market.

During — 87, the yen appreciated in value against the dollar and, bythe dollar had hit a post-World War II low, but Japan continued to register substantial trade surpluses. Political stability, maintained since the s by the majority LDP, began to unravel in the s, following the retirement from politics of Prime Minister Eisaku Sato in Sato's successor, Kakuei Tanaka, was forced to resign in December amid charges of using his office for personal gain in the Lockheed Corporation bribery scandal.

Takeo Miki succeeded Tanaka and Takeo Fukuda became prime minister when Miki resigned in December Fukuda was defeated in intraparty elections by Masayoshi Ohira in When Ohira died in Junehe was succeeded by Zenko Suzuki.

Suzuki stepped down as prime minister in November and was replaced by controversial and outspoken Yasuhiro Nakasone. Noboru Takeshita became prime minister in November Policy regarding military force has been a major political issue in the postwar years.

According to Article Nine of the constitution, Japan renounced the belligerency of the state but soon developed a Self-Defense Force with US encouragement. The Diet parliament approved a bill allowing the deployment of troops abroad for international peacekeeping in with troops participating with the United Nations in CambodiaIsrael, IraqSudanIndonesia, and other states.

Emperor Hirohito died of cancer on 7 Januaryat the age of He was succeeded by the Crown Prince Akihito, who was enthroned as the Heisei emperor in a formal ceremony in November The sense of entering a new era brought increased controversy over the assessment of Japan's role in the earlier part of the century, particularly during World War II.

Some denied that Japan had committed atrocities during the war and there were attempts to further soften the wording of school textbooks. In MarchPrime Minister Takeshita apologized to North Korea DPRK for the suffering Japan caused over the 36 years of occupation of Korea — 45 and Emperor Akihito expressed similar regrets to President Roh Tae Woo of South Korea ROK in May In the same month, the government removed the requirement for fingerprinting of people of Korean descent living in Japan.

InPrime Minister Kiichi Miyazawa apologized for the forced prostitution of Korean, Chinese, and Japanese women in Japanese military brothels during World War II.

However, many minorities in Japan, Chinese and Koreans included, claimed that they still experienced social and economic discrimination in Japan well after the war. The s ended with a major scandal involving illegal stock trading and influence peddling by the Recruit Cosmos Company. Between the summer of and the closing of the case in Maythe scandal led to the implication and resignations of prominent business people and politicians in top government positions, among them then-finance minister Kiichi Miyazawa, and the former prime minister, Yashuhiro Nakasone.

Scandals continued into the s with stock rebates for politicians in and then incontributions to politicians from a trucking company linked to organized crime became public knowledge. The economy entered a period of major stagnation and distress in the early s. By the end ofJapan was in the midst of its worst economic downturn in at least 20 years.

This also led to a debt crisis that resulted in many banks becoming unsustainable causing a massive consolidation. Although the long-term economic prospects for Japan were good, it was further retarded by the impact of the Asian financial crisis of — Inthe Japanese economy witnessed its most serious recession with a negative growth rate of 1.

As of there were only four national banks in Japan. Against the background of scandals and an economic recession, the political landscape began a major change. Taking responsibility for political problems caused by the Recruit scandal, Noboru Takeshita resigned as prime minister in Aprilto be succeeded in May by Sosuke Uno, who abruptly resigned when a sex scandal became public amidst the LDP loss of its majority in the upper house of the Diet.

The next prime minister, Toshiki Kaifu, served his term from August to Octoberbut the LDP did not support him for a second term. Instead, Kiichi Miyazawa became prime minister in November When the lower house gave Miyazawa a vote of no confidence in June for abandoning electoral reform bills, Miyazawa dissolved the lower house and called for elections. In the election for the seats of the House of Representatives on 18 Julythe LDP, for the first time since its own formation infailed to secure the seats needed for a majority.

Without a majority, the LDP was unable to form a government and the new prime minister, Morihiro Hosokawa JNPwas chosen on 29 Julyby a seven-party coalition of LDP defectors, socialists, and conservatives. Hosokawa, too, was tainted by questions regarding personal finances and stepped down as prime minister to be replaced by Tsutomu Hata Shinseito in April Just as Hata took office, the Socialist Party left the governing coalition, leaving the prime minister as the head of a minority government for the first time in four decades.

Hata soon resigned and, in a surprise move, the LDP and the Socialist Party, traditionally opponents, allied to form a new coalition, which also included the Sakigake.

The coalition selected as prime minister, Tomiichi Murayama, the head of the Socialist Party and the first Socialist prime minister since Within the coalition the LDP was the dominant factor but the decades of LDP rule appeared to be over and the nature of the LDP itself changed.

The dissolution of the House of Representatives and the ensuing election on 18 July marked a major turning point for Japanese politics as the LDP lost its political dominance as new parties formed. One new party, the Japan New Party JNPwas formed by Morihiro Hosokawa, a former LDP member, in May On 21 June10 more members of the LDP, led by Masayoshi Takemura, left to form the Sakigake Harbinger Party and another 44 LDP members quit two days later to create the Shinseito Renewal Party with Tsutomu Hata as its head.

By 28 June, one-fifth 57 members of the LDP bloc of the dissolved lower house left the party. In JuneTomiichi Murayama became prime minister in a coalition consisting of the LDP, the Social Democratic Party of Japan SDPJand Sakigake. In an unprecedented move, Murayama recognized the legal right for the existence of the Japanese Self-Defense force, much to the disapproval of left-leaning party members. The tumultuous reign of Murayama included the Kobe earthquake and political scandals which led to the resignation of the Justice Minister and the director of the Management and Coordination Agency.

Elections in October resulted in a victory for the LDP, but the party still failed to obtain a majority of seats, only capturing of The Sakigake and Democratic Party of Japan agreed to support Prime Minister Ryutaro Hashimoto. In JulyHashimoto resigned after a poor performance of the LDP in the House of Councilors election and was replaced by Keizo Obuchi. During the Obuchi regime, the Japanese economy showed signs of recovering with major fiscal stimuli including a massive public works program.

In AprilObuchi suffered a stroke, entered into a coma, and was replaced by Yoshiro Mori who called summarily for elections. On 25 June parliamentary elections were held for the House of Representatives.

Mori was reelected prime minister, with a ruling coalition of the LDP, the Buddhist-backed New Komeito, and the New Conservative Party NCP. In earlythe Nikkei stock average fell to its lowest level since and unemployment rates reached 4. Plagued by scandal and the depressed economy, Mori resigned in April Junichiro Koizumi won control of the LDP and became prime minister on 26 April, promising to reinvigorate Japanese politics and radically reform the economy.

He appointed members of his cabinet without seeking nominations from major factions of the LDP, as had been the practice in the past. Koizumi immediately raised controversy by making a visit to the Yasukuni Shrine. Dedicated to Japan's war dead, it served as a symbol of nationalism during World War II and has been a lightning rod for anger among Asian nations that suffered under Japan's military aggression. He continued to visit the shrine annually. Japan was also the target of international criticism over its Education Ministry's approval of junior high-school textbooks that allegedly glossed over Japan's aggression in China, particularly the Nanjing Massacre and its annexation of the Korean Peninsula.

Koizumi's coalition dominated the July elections for the House agora trading system ltd Councilors, with the LDP taking 65 of fw pip fx trading contested seats, its best performance in the House of Councilors since The victory was seen as a mandate for Koizumi.

However, the economy remained in recession throughoutwhich reduced his popularity. InJapan began a diplomatic initiative to improve relations with North Korea. In SeptemberNorth Listed equity options cease trading at President Kim Jong Il apologized to Koizumi for North Korea's kidnapping of Japanese citizens during the s and s.

Japan pledged a generous aid package to North Korea in return. In relations with South Korea and China soured over Japanese continued use of junior high-school textbooks which downplayed the aggressive nature of Japan's role equiniti buy sell shares WWII.

In addition, South Korea objected to the reassertion of the Japanese claim to the Liancourt Rocks, which Korea occupies. China objected to the Japanese proposal becoming a stock trader a permanent seat on the United Nations Security Council, while both countries objected to Japan's use of the East China Sea.

Elections in resulted in large gains for the opposition Democratic Party, but the LDP coalition retained a majority within the parliament. On 27 SeptemberKoizumi carried out a major cabinet reorganization dubbing his new ministerial lineup the "Reform Us dollar rates in pakistan Cabinet", in order to combat corruption and inefficiency.

Koizumi called for early elections in September after he dissolved the lower House due to the defeat in the upper House of his landmark proposals to reform the country's postal system.

The upper House cannot be dissolved in Japan, and so a two-thirds majority was needed in the lower House to be able to pass new legislation without the consent of the upper House. The result was the second-largest landslide in a general election in the LDP's history.

In combination with allied parties, the LDP coalition held over two-thirds of the seats, out of The results were a devastating setback for the Democratic Party, the main opposition, whose gains in and led some to believe that Japanese Democracy was evolving into a two-party system. Due to LDP term limits, Koizumi was expected to retire inalthough the possibility of his remaining in office still existed. Japan follows the parliamentary system in accordance with the constitution of The most significant change from the previous constitution of was the transfer of sovereign power from the emperor to the people.

The emperor is now defined as "the symbol of the state and of the unity of the people. It is officially termed a constitutional monarchy with a parliamentary government. The executive branch is headed by a prime minister selected from the Diet by its membership. The cabinet consists of the prime minister and 17 state ministers as of February whom are elected by the prime minister, each heading a government ministry or agency.

At least half the ministers must be selected from the Diet, to which the cabinet is collectively responsible.

Upon a vote of no confidence by the House of Representatives, the cabinet must resign en masse. The National Diet is bicameral.

The House of Representatives the lower House has a membership ofwith terms of office for four years, except that all terms end upon dissolution of the house a law promulgated in February reduced the composition of the House from to members.

Of the seats, are elected from 11 multi-member constituencies by proportional representation, and are elected from single-member constituencies. The House of Councilors the upper House has members, members in multi-seat constituencies and 98 by proportional representation. The term of office is six years, with one-half elected every three years.

This means that of the members subject to election each time, 73 are elected from the 47 prefectural districts and 48 are elected from a nationwide list by proportional representation. The lower house holds primary power. In case of disagreement between the two houses, or if the upper house fails to take action within 60 days of receipt of legislation from the lower house, a bill becomes stock symbol for square up if passed again by a two-thirds majority of the lower house.

Suffrage is universal, the voting age being 20 years, with a three-month residence requirement. The constitution granted suffrage to women. In Januaryhdfc forex plus card rates Diet passed an electoral reform bill. In addition to new laws on campaign financing, the legislation abolished the multiple-member districts and replaced them with single-member districts and multimember districts.

The number of multimember districts stood at The elections resulted in the weakening of minor parties, in particular the SDPJ and Sakigake.

Elections for the House of Representatives took place intwo years before the official end of the term taken from the election in due to Koizumi's decision to dissolve the lower House. The next elections for the House of Councilors were scheduled to take place in Forex peace army fxdd malta political parties in Japan are small local or regional parties, with the total number of parties exceeding 10, Japan's most popular party, the Liberal-Democratic Party LDP represents a wide spectrum of Japanese society, but especially the conservative elements.

Formed in by the merger of the two leading conservative parties, this party held the reins of government since its formation until July The LDP supports an alliance with the United States and the various security pacts enacted by the two countries. The Japan Socialist Party JSP is Japan's principal opposition party, drawing its support mainly from the working class, but it suffers from personality as well as ideological problems within its ranks.

The Oscillation stock market split into right and left wings over the ratification of the US-Japan Security Treaty of In Octoberhowever, the two factions reunited, preceding the unification of the conservative parties and actually forcing the conservative groups into a unified front, thus creating a formal two-party system in Japan.

Beginning in the late s, a shift took place toward a multipleparty system, with the gradual increase of opposition forex trading hours worldwide other than the JSP.

The Democratic Socialist Party DSP represented moderate elements of the working class. The Komeito Clean Government Partyprofessing middle-of-the-road politics, was the political wing of the Soka-Gakkai, a Buddhist sect. The Japanese Communist Party, founded as an underground group in and legalized after World War II, experienced major shifts in platform. The party had traditionally sided with China in the Sino-Soviet ideological dispute, although in recent years the Japanese Communists have focused instead on social conditions at home.

The LDP continued to hold its majority in both houses until Traditionally, the LDP has functioned as a coalition of several factions, each tightly organized and bound by personal loyalty to a factional leader.

In the mids, policy differences among the factions and their leaders became acute, with the resignation under pressure of Prime Minister Tanaka in December In the summer ofafter five years of scandals involving corruption, sex, organized crime, and in the midst of economic recession, the old political order disintegrated as dozens of younger LDP members defected to form new parties.

Chief among these was the Japan New Party JNPformed in Mayand the Sakigake Harbinger Party and the Shinseito Renewal Party stock market game mac os x lion, both formed in June A watershed election in July for the House of Representatives, the lower house of the parliament, resulted in the loss by the LDP, for the first time sinceof its majority. Of the seats, the LDP won seats american binary options mobilized as nadex launches ipad app compared with in the electionthe JSP won 70 seats a loss of half of its adverse selection stock market seatsthe Komeito won 51 seats, the Shinseito took 55 seats, the JNP won 35 seats, and the Sakigake won A seven-party coalition, including new parties of LDP ensign stock market software, the JSP, and other conservative parties, formed the new cabinet, which governed for a year until the prime minister Morihiro Hosokawa, JNP resigned over a financial scandal.

The coalition forex piyasa nedir a new government, led by Tsutomu Hata of the Shinseito, in April However, the JSP, finding itself maneuvered out of any voice in the coalition, broke away and Hata, then with a minority in the House of Representatives, resigned after one month in office.

The next government was formed by a new, unorthodox coalition of the traditional opponents, the LDP and the JSP, as well as the Sakigake. Tomiichi Murayama, head of the JSP, was chosen prime minister in Junethe first Socialist to head a government sincealthough the LDP appeared to be dominant in the coalition.

This unusual partnership caused strains, leading to further defections, within the LDP and within the JSP. The Shinseito emerged as a serious focus of opposition, standing for an internationally more active Japan, including use of the military overseas, for a revision of the constitution, and for removing protective regulations to open the domestic economy to competition. The left wing of the JSP, unhappy with the alliance with the LDP, held that the Self-Defense Forces were unconstitutional, and that the North Korean government DPRK was the legitimate government of all of Korea, and advocated abolition of the security treaty with the United States.

The parliamentary election that took place on 20 October combined the single seat constituencies with the proportional representation for the remaining seats. After the dissolution of Shinshinto, a highly fractionalized party system emerged. Going into the election, the LDP had seats, with the largest opponents being the Democratic Party of Japan DPJ with 94 seats, the Komeito with 52, the Liberal Party with 39, and the Communists with The LDP worked closely with the Komei party and the Liberal Party, effectively making the DPJ the only significant opposition.

The House of Representatives election produced the following distribution of seats: LDP, ; DPJ, ; Komeito, 31; Liberal Party, how to win binary options every time Japan Communist Party JCP20; Social Democratic Party SDP19; New Conservative Party formed in7; and 21 other seats. In the House of Councilors vote, the seats fell as follows: LDP, ; DPJ, 59; Komeito, 23; JCP, 20; SDP, 8; Liberal Party, 8; New Conservative Party, 5; and independents took 14 seats.

A new party emerged in Japanese politics, the New Conservative Party, formed in March by members who split off from the Liberal Party. Nyse stock market results Novemberan election for the House of Representatives was held, and Prime Minister Junichiro Koizumi, leading the LDP, emerged victorious, although with a reduced majority.

The election was seen as a victory for the DPJ, which won seats, its largest share ever. In the six largest parties represented in the 1 binary options list broker blacklist Diet were the Liberal Democratic Party LDPthe Democratic Party of Japan DPJthe New Clean Party Government Komeitothe Japan Communist Party JCPthe Socialist Democratic Party SDPand the Conservative New Party CNP.

The early election called by Koizumi in September ofhowever, resulted in a firm majority for the LDP. Local government throughout Japan was strengthened by the Local Autonomy Law of Administratively, Japan is divided into 47 prefectures. Within these prefectures there are cities and 2, towns and villages. The local chief executives, mayors, and village heads, together with prefectural assembly members, are directly elected.

Governors and assembly members are elected atc forex broker review popular vote every four years. The 47 prefectures are divided as follows: Large cities are subdivided into wards kuand further split into towns, or precincts machi or choor subdistricts shicho and counties gun.

The city of Tokyo has 23 wards. Local public bodies have the right to administer their own affairs as well as to enact their own regulations within the law. The National Diet cannot enact legislation for a specific public entity without the consent of the voters of that district. Local governments control school affairs, levy taxes, and carry out administrative functions in the fields of land preservation and development, pollution control, disaster prevention, public health, and social welfare.

However, the Ministry of Home Affairs segnali operativi forex gratis had enormous control over the designs the systems of local administration, local finance and taxation, and co-ordinates between the central government and local governments although its purpose is to support and develop local and regional autonomy.

The result of this power is a high level of organizational and policy standardization among the how to make money singing commercials local governments. Because Japan does not have a federal system, and its 47 prefectures are not sovereign entities in the sense that the United States are, most depend on the central government for subsidies.

Mainly through the actions of the Ministry of Home Affairs, the Japanese government was seeking to decentralize power, through a process termed "controlled decentralization," away from Tokyo by allowing prefectures to exercise greater fiscal and budgetary autonomy. The constitution provides for the complete independence of why never exercise american call option before maturity judiciary.

All judicial power is vested in the courts. There are five trade eur usd forex of courts in Japan: Family Courts, on the same level as the District Courts, adjudicate family conflicts and complaints such as partitions of estates, marriage annulments, and juvenile protection cases.

The Summary Courts handle, in principle, make money easily club penguin cases involving claims which do not exceedyen; and criminal cases relating to offenses punishable by fines or lighter penalties; and civil conciliations.

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They are situated in locations nationwide. The cases are handled by a single summary court judge. The District Courts handle the first instance of most types of civil and criminal cases. They are situated in 50 locations nationwide one in each of the 47 prefectures and one in the 3 cities of Hakodate, Asahikawa, and Kushiro with branch offices in locations. Most cases are disposed by a single judge, aside from those cases in which it has been decided that hearing and judgment shall be made by a collegiate court or cases where the crimes are punishable by imprisonment with or without labor for a minimum period of not less than one year.

The High Courts handle appeals filed against judgments rendered by the district courts, family courts or summary courts.

The cases are handled by a collegiate body consisting of three judges. The Supreme Court is the highest and final court that handles appeals filed against judgments rendered by the High Courts. It is composed of the Chief Justice and 14 Justices with a Grand Bench made up of all 15 Justices. The Gann forex trading Court is divided into three Petty Benches each made up of 5 Justices to which cases are first assigned.

Those cases that involve constitutional questions are transferred to the Grand Bench for its inquiry and adjudication. The chief justice is appointed by the emperor on designation by the cabinet; the other justices, by cabinet appointment. Judges of the lesser courts also are appointed by the cabinet from lists of persons nominated by the Supreme Court. Their term of office is limited to 10 years, with the privilege of reappointment.

The Supreme Court is the court of last resort for determining the constitutionality of any law, order, regulation, or official act that is challenged during the regular hearing of a lawsuit. Abstract questioning of a law is prohibited and where can i buy stocks in philippines there is no judicial review.

The constitution affords criminal defendants a right to a speedy and public trial by an impartial tribunal. There is no right to a trial by jury. The constitution requires a judicial warrant issued by a judge for each search or seizure.

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Japan accepts compulsory jurisdiction of the International Court of Justice with reservation. Japan has the death penalty and it can be enforced for the crimes of murder, arson, or crimes against humanity, although only 2 — 3 prisoners are executed a year. Japan has been widely criticized for giving lenient punishments for certain crimes, especially rape which carries a typical sentence of 2 — 5 years in prison.

On 18 May weizmann forex ltd mumbai, the Diet enacted a new law to improve the treatment of inmates and to help prevent recidivism. The reestablishment of Japanese defense forces has been a subject of heated debate in the period since World War II. Article 9 of the constitution renounces war as a sovereign right and the maintenance of "land, sea, and air forces, as well as other war potential.

Following the signing of the San Francisco Peace Treaty, the reserve force was reorganized into a National Safety Agency 1 August Laws establishing a Defense Agency and a Self-Defense Force became effective on 1 Julyboth under firm civilian control.

The strength of Japan's armed forces in wasactive personnel, supported by a reserve force of 44, The Japan Ground Self-Defense Force JGSDF hadpersonnel, organized into one armored and nine infantry divisions. The JGSDF's weaponry included main battle tanks, reconnaissance vehicles, 70 armored infantry fighting vehicles, armored personnel carriers, 1, artillery pieces, and 90 attack helicopters.

The JMSDF's naval aviation arm had an estimated 9, members with 80 combat capable aircraft that was made up of 80 fixed-wing maritime patrol aircraft. The service also had 10 mine counter-measures and 88 antisubmarine warfare helicopters. Japan Air Self-Defense Force JASDF personnel numbered up to 45, with combat capable aircraft, including fighters, and fighter ground attack aircraft.

Japan has a paramilitary coast guard of 12, operating patrol vessels. The United States maintains extensive military facilities and several thousand troops in Japan. Japan participated in peacekeeping missions in the Middle East. Japan was admitted to the United Nations on 18 Decemberand it holds membership in ESCAP and all the nonregional specialized agencies.

It is a member of the WTO, participates in the Colombo Plan, and has permanent observer status with the OAS. InJapan became a member of IMF and the OECD. Japan is also a member of APEC, G-5, G-7, G-8, the Paris Club Gthe Inter-American Development Bank, and the Latin American Integration Association LAIA. Japan is a dialogue partner in ASEAN, and observe to the Council of Europeand a partner in the OSCE. Japan has been actively developing peaceful uses for nuclear energy, and in it signed the Geneva Protocol, which prohibits the use of poisonous and bacteriological weapons.

In JuneJapan — the only nation to have suffered a nuclear attack — became the audi stock market symbol for goldman sachs signatory to the international Nuclear Nonproliferation Treaty.

Japan also participates in the Australia Group, the Zangger Committee, the Nuclear Money maker album krispy kreme Agency, the Nuclear Suppliers Group London Groupthe Organization for the Prohibition of Chemical Weapons, and as an observer in the European Organization for Nuclear Research CERN. Japan has been extending technical and financial aid to many countries, and in it established the Japan International Cooperation Agency to provide technical assistance to developing nations.

Japan also was instrumental in establishing the Asian Productivity Organization, the objective of which is to organize national productivity movements in various Asian countries into a more effective movement on a regional scale.

Japan has entered into cultural agreements with many European and Asian nations and maintains an educational exchange program with the United States. Through the Japan Overseas Cooperation Volunteers, Japan sends youths to work in developing countries.

Japan's economy is the most technologically-advanced in Asia and the second most technologically-advanced in the world, behind the United States. Japan was the first Asian country to develop a large urban middle-class industrial society.

It method of binary option also the first Asian country where a sharp reduction in the birthrate set the stage for notable further increases in per capita income. Sincethe number of farmers has fallen sharply, while expansion has been concentrated in industry and trade.

The agriculture sector in accounted for only 1. Domestic raw materials are far too limited to provide for the nation's automated business earn home jaguar leadgenerator marketing money system system needs, and imports must be relied forex swing trading ea for such basics as raw cotton, raw wool, bauxite, and crude rubber, with fuels and foodstuffs heading the list of materials.

The primary engine of Japan's modern growth has been the investing in best buy stockton carpets to pay for these basic imports with manufactured exports.

The exchange of high value-added finished products for low value-added commodities and raw materials has been the basis for both its high level of industrialization and its persistently high trade surpluses.

Up until the mids, economic development depended on continued expansion in exports. With the steady appreciation of the yen in real terms afterhowever, the country's economic structure underwent some adjustment. Business investment became the second major engine of growth. Facilitated by growing wage rates, favorable credit conditions, cuts in personal and corporate income tax rates and other stimulus measures by the government, domestic demand as well as direct foreign investment have played an increasingly important role as a source of growth in recent years.

After a period of recovery following World War II from toJapan entered into about 15 years of rapid growth to that was arrested by the world oil crisis, signaled by the first oil shock in Infor the first time since World War II, the GNP fell by 1. The recovery of the mids was slowed by the second oil shock, in — 79, and although the Japanese economy continued to outperform those of most other industrial countries, growth in GNP slowed to an estimated 4. Meanwhile, the continued stimulation of exports, especially of automobiles and video equipment, combined with Japan's restrictive tariffs and other barriers against imports, led to increasingly strident criticism of the nation's trade practices exchange rate history inr to usd the United States and Western Europe.

As early asJapan agreed to limit textile exports to the United States, and in the s it also imposed limits on exports of steel, automobiles, and television sets. Similar limits were adopted for exports to CanadaFrance where criticism focused on videocassette recordersand West Germany. Nevertheless, Japan's trade surpluses with the United States and other countries continued to swell through the mids, helped by a number of factors, most notably the misalignment of major currencies, particularly between the dollar and the yen.

The end of the period of high growth, tocoincided with the collapse of the Cold War confrontation. The period that followed, after and until abouthad been characterized by very low to stagnant growth, and three dips into recession. The investment boom of the late s, known retrospectively as the bubble economy, had its corresponding bust from toleaving mountains of debts that still constitute a drag on the economy.

GDP growth rates fell to 1. Recovery from the Asian financial crisis was itself cut short inwith the onset of a global slowdown and the aftershocks of the 11 September terrorist attacks on the United States: The depth of recessions have been minimalized by massive stimulus packages and tax cuts across the period of stagnant growth.

Total national debt, at GDP was forecast to grow by 2. Japan remained set to end persistent deflation inalthough fiscal tightening could slow GDP foreign exchange rate define. Consumer prices were forecast to fall by 0. The unemployment rate was forecast to fall from 3.

The CIA defines GDP as the value of all final binary options traders in south africa and services produced within a nation in a given year and computed on the basis of purchasing power parity PPP rather than value as measured on the basis of the rate of exchange based on current dollars. The annual growth rate of GDP was estimated at 2.

The average inflation rate in was It was estimated that agriculture accounted for 1. Household consumption includes expenditures of individuals, households, and nongovernmental organizations japan auto trading cape town goods and services, excluding purchases of dwellings. It was estimated that for the period to household consumption grew at an average annual rate of 1.

Japan's labor force in numbered an estimated The distribution of employed workers in was as follows: The unemployment rate in was events leading to the 1987 stock market crash of 1929 at 4.

Employers tend toward traditional, paternalistic, often authoritarian, control over their workers, but in turn, most regular workers have traditionally enjoyed permanent status. Union membership in was about Union strength is greatest in local government employees, automobile companies listed on ghana stock market, and electrical machinery workers.

Most members are organized in units called enterprise unions, which comprise the employees virgin media market share 2016 a single firm.

Virtually all organized workers are affiliated with national organizations, of which the largest is the Japanese Trade Union Confederation Shin-Rengoestablished in following the dissolution of the Japanese Confederation of Labor Domeiand incorporating the General Council of Trade Unions Soyho as of Collective bargaining is widely utilized, and the right to strike is available to most workers.

Strict enforcement of child labor laws as well as societal values protects children from exploitation in the workplace. Children under age 15 are not permitted to work, and those under 18 are restricted.

Labor legislation mandated a standard workweek of 40 hours, with premium pay rates for overtime. With the aid of a temperate climate, adequate rainfall, soil fertility built up and maintained over centuries, and such a large farm population that the average farm has an area of only 1. Since World War II — 45modern methods, including commercial fertilizers, insecticides, hybrid seeds, and machinery, have been used so effectively that harvests increased substantially through the s.

Almost all soybeans, feedstuffs, and most of the nation's wheat are imported. InJapan produced Overproduction of rice, as a result of overplanting and a shift to other foods by the Japanese people, led the government in to adopt a policy of decreasing rice planting and increasing the acreage of other farm products. For many years the government restricted imports of cheaper foreign rice, but in the rice market was opened to imports, as the government implemented the Uruguay Round agreement on agriculture.

Other important crops and their annual production in in thousands of tons included potatoes, 2,; sugar beets, 4,; mandarin oranges, 1,; cabbage, 2,; wheat, ; barley, ; soybeans, ; tobacco, 53; and tea, As forex broker vergleich spread lowestoft result of the US-occupation land reform, which began in latenearly two-thirds of all farmland was purchased by the Japanese government at low prewar prices and resold to cultivators on easy terms.

A more telling trend in recent years has been the sharp growth in part-time farm households. As a result, Japanese agriculture intensively utilizes both labor and machinery for production. InJapan had 2, tractors and 1, combines. Livestock production has been the fastest-growing sector in Japanese agriculture, with meat production increasing from 1. In there were 9, hogs, 4, head of beef cattle, and , chickens. That year, pork production reached 1, tons up fromtons in ; beef,tonstons in ; milk, 8, tons 1, tons in ; and eggs, 2, tons.

Japan is the single largest recipient of US agricultural exports; over a third of Japan's meat imports come from the United States. Inthe total catch was 5. The waters off Japan include cold and warm currents in which fish abound. Inthere wereregistered fishing boats which sailed both on nearby waters and in other fishing grounds in rundle mall boxing day opening hours 2015 Pacific Ocean, the South China Sea, and the Indian and Atlantic Oceans, with a total capacity ofgross tons.

Annual per capita fish and shellfish consumption from to averaged 66 kg lb. Whales have been prized in Japan as a source of both food and a variety of by-products, and Japanese apple stock next earnings report caught 2, whales in Japan ended commercial whaling infollowing the imposition of a worldwide ban on the hunting of endangered species of whales by the International Whaling Commission, but hud 9548 forfeiture of earnest money that it would catch whales for "research" purposes.

Competition for overseas fishing privileges has at various times brought Japan into conflict with Canada over salmon, with Russia over fishing in the Sea of Okhotsk between and Japan had special treaty privileges in these waterswith the ROK and China over their limitations on Japanese fishing operations, with Australia over pearl fishing in the Arafura Sea, with Indonesia over fishing in what Indonesia regards as inland waters, devolucion del dinero de finanzas forex with the United States, especially over fishing in north Pacific and Alaskan waters.

Japan has been adversely affected by the adoption of the mi fishing zone by the United States and more than 80 other world nations. Fish culture in freshwater pools, as well as in rice paddies, has long how to calculate price of put option practiced in Japan.

Aquaculture provides an additional 1. The leading species cultivated are laver noriyesso scallops, Pacific cupped oysters, and Japanese amberjack.

Seaweed culture provides winter season activity for many fishermen. Pearl culture has for more than half a century been the foundation of a valuable export industry. Of 24 million hectares On private forest lands, cutting is less dc universe online cash generator. Forest management and erosion control are urgent necessities in a land where gradients are very steep and flooding is frequent.

Japan was the world's third leading producer of paper and paperboard in after the United States and Chinaat over The Japanese cedar sugiwhich grows in most of Japan, is the most exploited species, followed by Japanese cypress hinokiand Japanese red pine akamatsu. These three species grow on 10 million hectares Inroundwood production totaled InJapan's 9, sawmills processed During the s and s, Japan became more reliant on imported wood to satisfy domestic demand.

Japan is the world's dominant importer of softwood and tropical hardwood logs, and has become one of the largest importers of softwood lumber, which is mainly used for housing construction. In the early s, 42 public corporations were formed to help private landowners with harvesting and replanting Japan's forests. As ofthe failure of these corporations buy tc stock exhaust several prefectures with a great deal of unpaid loans.

The mining sector was the smallest of Japan's industrial-based economy, accounting for 0. The mineral-processing industry, however, was among the world's largest and most technologically advanced, accounting for 6. Japan is among the largest producers and consumers of cadmium, and a leading producer of can u make money selling weed metal, electrolytic manganese dioxide, titanium sponge metal iodine, pig iron, nickel metal, crude steel, copper metal, diatomite, zinc metal, and cement.

Japan also produced and had considerable resources of limestone, carbonate rocks construction aggregates and dolomiteclays bentonite and fire claypyrophyllite, and silica. Since the beginning of the 20th century, most mineral production has undergone a steady decline, and Japan has become a net importer of minerals, relying heavily on imports for petroleum, iron ore, chromium, cobalt, copper concentrate copper metal, primary aluminum, ilmenite, rutile, natural gas, gallium, uranium, manganese for all its requirementsindium, nickel and coal, although coal accounted for slightly more than half of all mineral production by value.

With the exception of gold and zinc, Japan's ore reserves for other minerals, especially oil, gas, and metallic minerals, were very small. Among metal minerals, preliminary data for shows that Japan produced sterling pointe computer desk with optional hutch, kg of mine gold metal content savage arms mark ii stocks, and 78, kg of mine silver.

In addition, Japan produced the metal minerals alumina, antimony oxide, high-purity arsenic, bismuth, mine copper, germanium oxide, iron ore, iron sand concentrate, mine lead, manganese oxide, rare-earth oxide including oxide of cerium, europium, gadolinium, lanthanum, neodymium, praseodymium, samarium, terbium, and yttriumelemental selenium, high-purity silicon, elemental tellurium, titanium dioxide, mine zinc, and zirconium oxide.

Gold ore reserves stock market global benchmarkskg metal content ; and zinc ore metal content3. Among industrial minerals, preliminary output totals for were: In addition, Japan produced asbestos, elemental bromine, kaolin clay, feldspar, aplite, gypsum, quicklime, nitrogen, perlite, salt, sodium compounds soda ash and sulfatesulfur, talc, and vermiculite.

Reserves of iodine totaled 4. Japan's mineral industry consisted of a small mining sector of coal and nonferrous metals, a large mining sector of industrial minerals, and a large minerals-processing sector of ferrous and nonferrous metals and industrial minerals.

Mining and mineral-processing businesses were owned and operated by private companies. There were two major nonferrous metal mines and around 40 major industrial mineral mines in About 50, people were employed by Japan's mining sector in The mineral-processing industry produced, among other things, inorganic chemicals and compounds, ferrous metals, industrial minerals, nonferrous metals, petrochemicals, and refined petroleum products — for domestic consumption and for exports.

The government, through its Metal Mining Agency of Japan MMAJcollaborating with the Japan International Cooperation Agency, continued to promote overseas mineral exploration by providing loans and technical assistance, and by carrying out basic exploration. In line with its mineral policy to secure and diversify its long-term supply of raw materials, Japan was expected to continue its active search for direct investment in joint exploration and development of minerals in developed and developing countries.

The targeted minerals were antimony, chromium, coal, columbium niobiumcopper, gold, iron ore, lead, lithium, manganese, molybdenum, natural gas, nickel, crude petroleum, rare earths, silver, strontium, tantalum, titanium, tungsten, vanadium, and zinc. As of AugustJapan was the fourth-largest energy consumer in the world, and the second-biggest importer of energy topped only by the United States.

Japan's primary energy needs in were supplied by oil Japan's proven oil reserves are miniscule. As of 1 Januarythese reserves were estimated at 59 million barrels. Inoil production averaged an estimatedbarrels per day, of which 5, barrels per day consisted of crude oil.

However, oil demand by Japan in was estimated at 5. Thus imports for that year made up the difference, at an estimated average of 5. However, Japan has been involved in exploration for petroleum and its production overseas. However, inJapan lost its drilling rights in Saudi Arabia. To make up for this loss, Japan began making investments in Iranand has sought equity stakes in the Caspian Sea region. Japan is also looking at the Russian Far East.

As of 1 JanuaryJapan's crude oil refining capacity was estimated at 4. As of 1 JanuaryJapan's proven natural gas reserves were estimated at 1. However, additional deposits may lie under the seabed around Japan.

Domestic natural gas output is small. Binary options traders in south africaJapan's production of natural gas came to an estimated 0. As a result, Japan must import the vast majority of the natural gas it consumes. Demand for natural gas in was estimated at 2. Almost all of Japan's natural gas imports are in the form of liquefied natural gas LNG. With demand for how to gain xp in farmville fast at an estimated Inthe last year of domestic production, output came to 3.

InJapan's electric power generating capacity stood at Electric power output in currency strength indicator mt4 free to Electricity is how to buy stocks in mcdonalds by several private companies, with the public Electric Power Development Co. To reduce its reliance on oil and its carbon dioxide emissions, Japan has aggressively pursued the development of nuclear power since the s.

It is anticipated that between 9 and 12 new nuclear plants would be needed. As ofJapan had 51 reactors in operation, with a total capacity of 45 GW. These included the world's first Advanced Boiling Water Reactor, which came online in Manufacturing has been a key element in Japan's economic expansion during three periods of phenomenal growth.

First, during the year rise of Japan from a feudal society in to a major world power inoutput in manufacturing rose more rapidly than that of other sectors.

Second, during the s, when Japan recovered from the world depression earlier and faster than any other country and embarked on an aggressive course in Asia, manufacturing, especially heavy industries, again had the highest rate of growth. Third, in the remarkable recovery since Strategy zarobatka one touch binary options War II, manufacturing, which had suffered severely during the latter stages of the war, was again a leader, although commerce and how to earn money fast on runescape expanded even more rapidly.

Japanese industry is characterized by a complex system of exclusive buyer-supplier networks and alliances, commonly maintained by companies how to calculate price of put option to the same business grouping, or keiretsu.

Such a system utilizes a web forex bureau nairobi sunday vertical, horizontal, and even diagonal integration within the framework of a few large conglomerations.

Keiretsu firms inhibit the foreign acquisition of Japanese firms through nontransparent accounting and financial practices, cross-holding of shares among keiretsu member firms even between jak zbohatnout na forexuand by keeping a low proportion of publicly traded stock relative to total capital.

During the s and early s, the rate of Japan's industrial growth surpassed that of any other non-Communist industrialized country. Toyota Motor, Matsushita Electric, Hitachi, and Nissan Motor.

In addition to spectacular expansion in the volume of output, Japanese industry has also achieved impressive diversity, with maximal application of efficiency standards and technological input. Ssis freelance jobs from home, the Asian financial crisis that beset the region impacted Japan's industrial production growth, which went from 9.

Growth was still negative inbut only by The recovery was short lived. The global slowdown of compounded by the economic aftershocks kevin aprilio forex trading the 11 September terrorist attacks on the United States contributed to a massive 8.

However, byindustrial production had improved, and by was growing by 6. A brief recession forced production cutbacks in ; a deeper recession inrelated to rising world oil costs and diminished supplies, slowed Japan's economy work from home jobs assembling cd cases — 75 and again in — Japan's industrial strategy, which involves close cooperation between business, government, and labor, was coordinated by the Ministry of International Trade and Industry MITI.

Particular emphasis was given by MITI and other government agencies to encouraging and assisting research and development of new products and technologies.

Facing increasingly stiff competition from overseas trading partners in the s, Japanese firms responded with several strategies, including product diversification, increased investment in overseas plants, as well as a greater focus on production for the domestic market.

Since forex vs binary options trading losses, the government has implemented nine massive stimulus packages, including large investments in public projects like roads, bridges, and airports, in its efforts to spark renewed growth, or, at least, prevent a deeper recession. Manufacture of electrical machinery ranks first in value added.

Nonelectrical machinery ranks second, followed by binary option fast withdrawal equipment and chemicals.

The electronics industry grew with extraordinary rapidity in the s and now leads the world. Radio and television sets and household appliances have been exported in large quantities since World War II; in addition to generators, motors, transformers, and other heavy equipment, the industry now produces automatic devices, electronic computers, videocassette recorders, tape recorders, calculators, and communications and broadcasting equipment.

Japan plays an increasingly important role in the computer industry. ByJapan was fiercely competing with the United States in developing high-tech products, such as superconducting materials. Japan is the world's leading shipbuilder; more than half the ships built are stock brokers marlin, including some of the world's largest oil tankers.

Rapid increases in shipbuilding capacity by Brazil and South Korea reduced demand for Japanese-built ships from a peak of 38 million gross tons of new orders in to 7. Passenger car production expanded rapidly in the s, as Japan moved to fill rising demand for fuel-efficient cars in the United States and Europe.

In the early s, Japan emerged as the world's leading automobile producer, topping the United States for the first time in the history of the industry. Dominant industry giants are Nissan and Toyota, which together produced about three-fifths of all passenger cars in the mids. Restrictions imposed on Japanese automobile exports have promoted a marked increase in Japanese investment in automobile manufacturing facilities engine manufacture, assembly as well as research and development in the United States, Western Europe, and other overseas markets.

Japanese manufactures have also sustained growth through greater focus on producing for the booming domestic motor vehicle market.

Japan's superior technology in the design of bicycles, motorcycles, buses, and high-speed trains has been another major factor in the growth of the transport industry. InJapan produced 10, cars, trucks, and buses, of which 4, were exported. Leading car makers included Daihatsu, Fuji, Hino, Mitsubishi, Nissan, Honda, Isuzu, Mazda, Suzuki, and Toyota.

The chemical and petrochemicals industry has been another of the economy's key growth sectors since the late s, in part due to rising domestic demand. Products include industrial chemicals such as sulfuric acid, caustic soda and fertilizers, as well as plastics, dyestuffs, paints, and other items for domestic use. Japan must import much of the iron ore and coking coal used in its steel industry, which ranked second only to the former USSR's in the mids.

Output of crude steel peaked at Incrude steel production totaled Textiles and apparel, Japan's main exports during the years immediately following World War II, have steadily declined in importance. Output of cotton and woolen fabrics, yarns, and rayon and acetate remains substantially below levels. The Japanese textile industry has been especially hard hit by rising wage rates and competition from developing nations, especially the other industrializing countries of East Asia.

Japan's semiconductor business has grown in size and profit due to the trade pact between Japan and the United States. While some argue that this pact had a negative effect on Japan's domestic chip market, it now appears, that these chip companies have become more efficient and therefore more profitable.

Both the United States and Japan have become so intertwined in the semiconductor area that neither could afford to terminate the relationship.

The Japanese rank second only to the United States in spending on scientific research and technology development. This is important because industry is more likely to support the type of research that will result in new technologies and products. Inof all bachelor's degrees awarded, Higher education, that same year, accounted for 7. Despite Japan's economic downturn in the s, it was likely that investments in both equipment and personnel would grow.

In terms of the Japanese government's role in national science and technology, three ministries are important.

The Ministry of Education, or Monbusho, provides most of the support and funding for scientific education and training at the university level in Japan. In the s, Monbusho led a national effort to improve science and technology education at universities, particularly in "basic" research areas where research does not necessarily have to pay off in commercial products.

Another organization, the Science and Technology Agency STA promotes science and technology policies, and acts as the prime minister's leading policy and budgetary agency. It performs this function through annual "white papers" which describe the current state — and future goals — of Japanese science and technology. The Ministry of International Trade and Industry MITI is probably the ministry best known by Americans.

MITI promotes and protects Japanese industry by sending them signals and giving guidance to those firms which undertake research and development. MITI has been instrumental in providing close government-industry cooperation in many high technology fields, including computers, electronics, and biotechnology. Regional research institutions such as Tskuba Science City and Kansai Science Park also play a role in fostering Japanese research and development.

Their growth since the s has begun to shift some of the focus and power of the national government and industry in Tokyo to the regional prefectures. International cooperation with the United States in areas like global warming and space launches may create new opportunities for greater scientific research at local, regional, and national levels in Japan.

Japan has numerous universities and colleges that offer courses in basic and applied sciences. The country's National Science Museum, founded inis located in Tokyo. The University of Tokyo has botanical gardens that were established in At least half of all consumer goods are purchased through small, privately owned and operated shops. Street hawkers and peddlers provide certain foods and small consumer items; street stalls offer food, clothing, and household and other goods. Specialty shops exist in great profusion, and about associations of such shops represent common interests.

There are chain stores owned and operated by a single management and there are voluntary chains of independent stores operating in association. Japan also has numerous cooperatives, principally consumer, agricultural, and fishing.

Recent revisions in the large-scale retail store law have loosened government regulation of the distribution system, allowing the establishment of large foreign discounters and mega-stores, which are likely to offer growing competition to smaller retailers in the future. As ofJapan's franchise industry was the second-largest in the world in total sales with over 1, chains. The number of outlets in Japan exceedsA key characteristic of the country's distribution system has been the long term and carefully cultivated nature of the supplier and wholesaler or retail store relationship, necessitating considerable commitment of time and outreach effort by foreign companies wishing to enter the Japanese market.

In retail trade, cash transactions have been traditional, but various forms of installment selling are increasingly being used, especially in the sale of durable goods. The use of charge accounts is growing rapidly. Promotion by displays, advertising, and other methods used in Western countries is increasing rapidly in Japan. Advertising appears in the daily press, in the numerous weekly and monthly magazines, and in special publications of many kinds.

Radio and television also carry extensive advertising, excepting those channels run by the government's Japan Broadcasting Corporation. Normal shop hours are 10 am to 8 pm, seven days a week, although department stores shut their doors at 7: Banks are open from 9 am to 3 pm Monday through Friday, and are closed on Saturdays and Sundays.

However, Japan exhibits a low degree of openness to foreign trade, and therefore maintains a significant trade surplus. This phenomenon is due to official and unofficial restrictions on merchandise imports, which remain in place — despite pressure from the United States and other important trading partners — to protect the less efficient sectors of Japanese industry, such as textiles, food, and pulp and paper.

This lack of openness to foreign trade has been named as one of the reasons for the poor productivity of companies in the nontradable sectors of the economy, for example, and for other structural economic problems. Imports consist mostly of fuel, foodstuffs, industrial raw materials, and industrial machinery. Exports are varied, but manufactures now account for nearly all of the total. Cars represent a leading export product, with the United States, Canada, Australia, Germany, and the United Kingdom as the main markets.

The export of office machinery, scientific and optical equipment is also important. South Korea, China, and Taiwan are among the main buyers of Japan's iron and steel, while plastic materials and fertilizers are shipped primarily to South Korea and the Southeast Asian countries, and woven fabrics are supplied to China, the United. States, and Saudi Arabia. Only a small fraction of Japan's total exports consists of food items, mainly fish. In light of growing overseas concern about Japan's continuing large trade surplus, the US and Japanese governments collaborated on the Structural Impediments Initiative of Steps taken in the wake of the initial report included a variety of import and direct foreign investment promotion measures, including deregulation, accelerated government spending on public infrastructure, and support services for foreign businesses.

The Initiative as a framework for US-Japanese relations was ended in Manufactured products make up most of Japan's commodity exports. Japan is the world's largest maker of machine tools, and is one of the world's most important iron and steel makers.

The automobile is the country's most important industry, along with computers and electronic equipment. In percentage terms, Japan's main exports in were: Japan's main imports in were: Japan's leading markets that year were: Leading suppliers in were: Bilateral trade between China and Japan now exceeds trade between Japan and the United States.

These huge surpluses resulted. Japan's mounting surpluses and the rising deficits of the United States forced the United States and other leading industrial nations to attempt to realign their currencies, especially the dollar and the yen, in September The yen's appreciation increased the competitiveness of American products and contributed to the reduction of Japan's external imbalances throughwhen the current account surplus fell by Whereas long-term capital outflows exceeded Japan's current account surplus from throughby the outflow shifted predominantly to short-term capital, and overseas direct investment slowed.

Japan had the highest trade and current account surpluses in the world in the early s; however, Japan is less open to trade than other highly developed economies. This was due in part to restrictions on merchandise imports to protect the country's less efficient industry sectors. Due to this lack of openness to trade, companies in the nontradable sectors have not been productive. Japan's highly sophisticated banking system continued to play a dominant role in financing the country's and the world's economic development, despite Japan's decade long recession.

In the mids, while the United States was becoming a debtor nation, Japan became the world's largest creditor. Banks provide not only short-term but also long-term credit, which often in effect becomes fixed capital in industry.

In terms of sheer size, Japanese banks occupy some of the top spots in worldwide bank ratings. The controlling national monetary institutions are the Bank of Japan founded in and the Ministry of Finance.

The Bank of Japan, as central bank, has power over note issue and audits financial institutions to provide guidance for improving banking and management practices. Ceilings for interest rates are set by the bank, while actual rates, commissions, and discounts are arranged by unoffi cial agreements among bankers and other financial institutions, including the National Bankers' Association.

A new banking law, replacing the National Banking Law ofwas adopted in Its objectives were to increase competition in the financial world by enabling banks to sell bonds and by authorizing both banks and securities firms to sell commercial paper and certificates of deposit.

Eleven important city banks, with branches throughout the country, account for about two-thirds of all commercial bank assets, the rest accruing to regional banks, 7 trust banks, and 83 foreign banks. In addition, foreign banks have representative offices in Japan. Of special interest are the postal savings facilities, which are used by many Japanese families and have assumed many of the aspects of a huge state-owned banking business.

The Foreign Exchange Law was changed to totally liberalize cross-border transactions in Important foreign exchange banks include the city banks, long-term credit banks, trust banks, major local banks, major mutual loan and savings banks, and the Japanese branches of foreign banks.

Such governmental financial institutions as the Japan Export-Import Bank, the Central Bank for Commercial and Industrial Associations, and the Central Bank for Agriculture and Forestry also participate in foreign exchange markets.

The rapid expansion of bank lending and the importance of land and stocks as assets in Japan's financial sector have exposed its financial institutions to the risks stemming from falling asset prices. Thus one of the root problems of Japan's diffi culty in returning to a trend rate of GDP growth lies in the fragility of the financial sector. Banks and other financial institutions have been rocked by the huge sums of nonperforming debt, stemming from an earlier lending spree based on inflated land values as collateral.

In the aftermath of the collapse of the "bubble economy," many of the generous loans extended, especially to land and property developers, cannot be repaid or even serviced. The bad debt held by the seven failed jusen housing loan companies established by banks and agricultural financierswhich were liquidated partly at public expense, led to huge secondary losses in other areas of the financial sector. The liquidated jusen moved their assets to the newly established Housing Loan Administration Corp.

This was unlikely, however, since not only would many property companies go bankrupt, but also much of the bad debt was extended illegally or to companies associated with yakuza gangsters. Consequently, several jusen executives were arrested in on charges of alleged aggravated breach of trust.

The most dramatic merger was that between the Bank of Tokyo and Mitsubishi Bank in April This "mega-merger" created the world's largest bank, which became highly competitive in global financial markets.

Inthree Japanese banks: The other premier Japanese banks in were Sumitomo Bank, Sanwa Bank, and Sakura Bank. The money market rate, the rate at which financial institutions lend to one another in the short term, was 0. The discount rate, the interest rate at which the central bank lends to financial institutions in the short term, was 0.

Major securities exchanges are in Tokyo, Hiroshima, Fukuoka, Nagoya, and Osaka. Small regional exchanges are in Kyoto, Niigata, and Sapporo. Although prior to World War II most stocks were held by large business firms zaibatsustocks are now available for public subscription.

The Tokyo Stock Exchange, the largest in the world, is the most important in Japan. In the late s, there were three categories of securities companies in Japan, the first consisting of the "Big Four" securities houses among the six largest such firms in the world: Nomura, Daiwa, Nikko, and Yamaichi.

The Big Four played a key role in international financial transactions and were members of the New York Stock Exchange. In Nomura became the first Japanese member of the London Stock Exchange. Nomura and Daiwa were primary dealers in the US Treasury bond market. The second tier of securities firms were affiliates of the Big Four, while some were affiliated with banks.

In83 of the smaller firms were members of the Tokyo Securities and Stock Exchange. Japan's securities firms derived most of their incomes from brokerage fees, equity and bond trading, underwriting, and dealing. Other services included the administration of trusts. In the late s a number of foreign securities firms, including Salomon Brothers and Merrill Lynch, became players in Japan's financial world.

The Tokyo Securities and Stock Exchange became the largest in the world inin terms of combined market value of outstanding shares and capitalization, while the Osaka Stock Exchange ranked third after Tokyo and New York. Inthe TOPIX index rose After 56 years, the Japanese Insurance Business Law was revised in The purpose of the newly revised law is competition, to protect policy holders, and to promote greater management efficiency.

The law allowed, for the first time, cross entries of life and nonlife companies into each other's sector through the establishment of subsidiary companies. In response to this development, 6 life and 11 nonlife insurance companies set up subsidiaries.

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Firms may not engage in life and nonlife insurance at the same time. Inleading Japanese nonlife insurance firms included Tokio, Mitsui Sumitomo, Aioi, and Nippon Koa. Leading life insurance companies included Nippon, Dai-Ichi, Sumitomo, Meiji Yasuda, and ALICO Japan. Life insurance is by far the most extensive of all classes of insurance. Premium income is more than three times that of all nonlife premium income.

Japan is the world's largest holder of life and health insurance. Nippon Life Insurance Co. In the nonlife field, automobile insurance is the largest sector. Automobile liability insurance is compulsory. Personal accident insurance was next in importance, followed by fire, marine cargo, and marine hull insurance. Worker's compensation, nuclear liability and health insurance are also compulsory. In the mids the combined Japanese life and nonlife insurance market had the world's largest share with The life insurance market was The Japanese nonlife insurance market consisted of 29 domestic companies and the life insurance market consisted of 36 domestic companies in Plans for the national budget usually begin in August, when various agencies submit their budget requests to the Ministry of Finance.

On the basis of such requests, the ministry, other government agencies, and the ruling party start negotiations. The government budget plan usually is approved by the Diet without diffi culty, and the budget goes into effect in April.

Deficits, financed by public bond sales, have steadily increased in size since the oil crisis. SinceJapan has pursued tight fiscal policies and has attempted to constrain government debt.

In recent years, however, fiscal stimulus policies have contributed to an increasing budget deficit. The government's focus on fiscal policy to compensate for a tight monetary policy has restricted spending on infrastructure, yet bythe deficit had reached 7.

After World War II, Japan adopted a tax system relying mainly on direct taxes, like those in the United States and the United Kingdom. The most important of these are the income tax and corporation tax. Capital gains received by companies are taxed as income at normal tax rates. In the past, capital gains received from the sale of land had been subject to a special surplus tax. As ofthat tax was suspended until 31 December Local taxes can include municipal and prefectural inhabitant and per capita taxes.

However, a number of items are zerorated. Exemptions include land transfers, medical services, residential rents, and financial services. Additional national taxes include customs duties; a stamp tax; inheritance and gift taxes; a monopoly profits tax; a sugar excise tax; taxes on liquor, gasoline, and other commodities; and travel, admissions, and local road taxes.

The Japanese tariff system is administered by the Customs Bureau of the Ministry of Finance. However, import duties remained relatively high for certain agricultural and manufactured goods.

In addition, quantity quotas and tariff quotas are still applied to some goods. These included ball bearings, steel products, navigational instruments, machinery accessories, printing machines, forklift trucks and industrial belts. There is a free trade zone at Naha, on Okinawa; no free trade zones function on the main islands. Japanese investments abroad have expanded steadily since the s, the result both of liberalization on the outflow of capital and of the prosperity of the Japanese economy.

It has also been due in part to increased investment in the United States and European Union EU as a conciliatory move to lessen the trade gap between Japan and the two industrial regions. Foreign investment in Japan has historically been less than in other G-7 countries. One reason for this is that in the past, the Japanese government discouraged foreign investment. A second but perhaps more significant reason is the high cost of doing business in Japan, which, in turn, reduces profits.

Some of the barriers became less significant with the signing of the US-Japan Investment Accord signed in As ofJapan's government imposed few formal restrictions on FDI in Japan, and had removed or liberalized most legal restrictions that applied to specific economic sectors. InPresident Koizumi promised to double the amount of FDI in Japan by During the early s, there was a significant imbalance in Japan's investment in other countries compared to other countries investing in Japan — the former was far greater than the latter.

Since the mids, however, investment in Japan soared. FDI stock in Japan had more than tripled on a yen basis from — Reforms in the financial, communications, and distribution sectors have encouraged foreign investment in these sectors. The primary foreign investors in Japan in were in order: Japanese direct investment abroad went to in order: Japan's phenomenal economic growth since the s has been based on an efficient blend of two economic tendencies.

First is government activism in national planning and implementation, with guidance of the largely free economy via sophisticated and powerful monetary and fiscal policies. Second is the distinctively Japanese way of coupling largely private ownership of assets with conservative, public-spirited management.

Especially significant was the role of the Ministry of International Trade and Industry MITIwhich coordinated national industrial policies consistent with economic and social growth. In a unique government-industry collaboration sometimes referred to overseas as "Japan, Inc. Industries so targeted have included chemicals, iron and steel, shipbuilding, and transistor radios in the s; automobiles and electronics in the s; and computers, computer chips, and other high-technology industries for the s.

In addition to stimulating new industries, MITI also smoothed the way for plant closings and worker retraining in industries targeted for de-emphasis, such as textiles in the s and the ailing coal-mining and shipbuilding industries in the s.

MITI also assumed an active role in lessening Japan's positive trade imbalances through a variety of import promotion measures, in collaboration with both domestic companies and foreign firms. Close ties between government and industry are illustrated by the ministries' issuance of informal "administrative guidance" to Japanese companies, the frequent placement of retired bureaucrats in Japanese companies and trade associations, and the delegation of quasi-regulatory authority to trade associations which are often allowed to devise and regulate their own insider rules.

InMITI was reorganized as the Ministry of Economy, Trade, and Industry METI. The objectives of maintaining rapid GNP growth, controlling inflation, and developing Japan's social and industrial infrastructure have been the concern of the Economic Planning Agency, which produced the successful Ikeda plan to double the national income between and and released projections of key indicators at frequent intervals.

Inthe offices and functions of the Economic Planning Agency were reassigned to the newly-formed Cabinet Office, where they function as a secretariat to the Council on Economic and Fiscal Policy. In the main, the Ikeda plan consisted of a series of projections of growth in a free market economy, with the basic assumption — the continued growth of Japan's overseas trade — largely outside of government control.

An economic and social development plan — 75 accomplished a GNP growth rate of A second economic and social plan — 75 projected a continued annual growth rate of The world oil crisis and its aftermath severely shook Japan's trade-dependent economy, however; inthe GNP actually shrank by 1.

Inthe cabinet approved a new economic and social plan for — 85 calling for an average annual growth rate of 5. However, the impact of the second oil crisis in necessitated downward revisions of projected growth targets. Plans to stimulate the economy by increasing public-works spending and cutting taxes were approved in October and in May Also enacted in was a value-added tax to strengthen the government's revenue base while allowing reductions in personal and corporate income tax.

Ina five-year plan was adopted to sustain real GNP growth at 3. Many of these objectives were achieved or surpassed in the closing years of the decade. Afterhowever, the economy's downturn was likened by some analysts to the recession in its severity and length. Economic indicators included steep declines and sluggish recovery in the stock market index afterfalling real estate prices, as well as a shrunken rate of GNP growth, despite surging exports.

Under the Structural Impediments Initiative, the government sought to sustain growth while also reducing the country's external trade imbalances. InJapan began a tentative recovery from its longest and most severe recession since the end of World War II.

Bythe economy was growing by a rate of approximately 2. Japan's financial assistance to developing countries and international agencies has grown significantly, making it one of the world's leading donor countries. The government has committed itself to large increases in official development assistance to developing countries and multilateral agencies since the late s.

Among the top recipients of bilateral ODA from Japan have been Indonesia, China, the Philippines, Thailand, Bangladeshand Malaysia. Japan's increasing financial assistance to developing countries like China and Indonesia is an indication that the Japanese government is willing to sacrifice short term gain for longer term prosperity and stability. In essence, Japan is helping to create viable trading partners; and since Japan is a trading state, this strategy will enhance Japan's economic development over the long term.

From —Japan was the largest donor of ODA, in terms of raw dollars. A key factor accounting for this was the Living standards reflect Japan's rapid economic development since the mids. Greatly contributing to the social stability of the nation is the strong sense of family solidarity among the Japanese; virtually every home has its butsudan, or altar of the ancestors, and most elderly people are cared for in the homes of their grown children.

A further source of social stability has been Japan's employment system, noted for its "lifetime employment" of workers from the time they enter the company after completing their education to the time they retire. Traditionally, layoffs and dismissals of employees were rare, even during times of recession. The present social insurance system includes national health insurance, welfare annuity insurance, maternity coverage, unemployment insurance, workers' accident compensation insurance, seamen's insurance, a national government employees' mutual aid association, and day workers' health insurance.

It also provides pension plans designed to maintain living standards for the elderly, based on years of employment, and for families of deceased workers.

Per capita expenditure on social security programs remained low, however, in relation to expenditure in many other industrial nations. There is a family allowance for low income residents with children under the age of nine. Nearly the entire population receives benefits in one form or another from the health insurance system.

Health insurance is compulsory for those employed at enterprises with five or more workers and premiums are shared equally by the insured and their employers. Those not covered at work are insured through the National Health Insurance program. Other sickness and health insurance is in force among farmers, fishermen, and their dependents.

Unemployment coverage is obligatory for all enterprises regardless of size; workers' compensation must also be provided by employers. The Daily Life Security Law laid the groundwork for an ever-growing livelihood assistance program.

Out of this have come laws pertaining to child welfare, physically handicapped persons' welfare, social welfare service, welfare fund loans to mothers and children, aid to the war-wounded and ill, and aid to families of deceased soldiers. The system provides direct aid for livelihood, education, housing, medical, maternity, occupational disability, and funerals. More than a thousand welfare offices throughout the nation are staffed by full-time, salaried welfare secretaries and assisted by voluntary help.

Institutions have been established to care for the aged, those on relief, and those needing rehabilitation. Numerous private organizations assist government agencies. There are special pension programs for public employees, private school teachers and employees, and employees of agricultural, forestry, and fishery cooperatives.

Although the law prohibits wage discrimination, there remained a significant gap between earnings for men and women in Women also retain the responsibility of child care and household chores.

Domestic abuse and other violence against women are often unreported due to societal concerns about shame in the family. The government is taking some action in providing shelter facilities and passing laws to protect victims. There is also an increase in the molestation of women on the railways while commuting. Sexual harassment in the workplace is prevalent. Discrimination against ethnic Koreans and other non-Japanese minorities also continued. Human rights are generally respected by the government, but there have been some reports of abuse of detainees and prisoners.

The Ministry of Health and Welfare has become the central administrative agency responsible for maintaining and promoting public health, welfare, and sanitation. All hospitals and clinics are subject to government control with respect to their standards and spheres of responsibility. Inthere were physicians, nurses, 72 dentists, and pharmacists perpeople. Every practitioner in the field of medicine or dentistry must receive a license from the Ministry of Health and Welfare.

In addition, the ministry recognizes and authorizes certain quasi-medical practices, including massage, acupuncture, moxa-cautery, and judo-orthopedics, all based upon traditional Japanese health professions. Expanded examination and treatment have brought about a dramatic decrease in the death rate from tuberculosis, the major cause of death in the s.

Death rates from cancer and heart disease have risen considerably and now rank among the leading causes of death, trailing cerebrovascular diseases. Japanese medical researchers have been working on research for a new cure for breast cancer. Infant mortality dropped to 3. The total fertility rate was 1. Average life expectancy was In the mids there were nearlydeaths per year strictly from cardiovascular diseases.

There were an estimated deaths from AIDS in A severe housing shortage plagued Japan after World War II. It was estimated that intwo years after the war's end, the housing deficit amounted to more than four million units.

A construction program resulted in 9. The following year, the government undertook a five-year plan for the construction of 7. Housing construction peaked at 1. The decline reflected not so much a saturation of demand — many Japanese regard their housing as inadequate — as a rapid rise in land and construction costs, especially in the Tokyo, Nagoya, and Osaka metropolitan areas, which put new housing out of the reach of potential buyers.

In the mids, the average salaried worker in Tokyo could only afford a house 40 km outside the Tokyo metropolitan area. Condominiums and prefabricated homes provided much of the nation's new housing in the s. In fiscallow interest rates pushed new housing starts to 1. However, inthere was a total of Inabout Japan's entire educational system was reorganized along US lines after World War II, adhering to a six-three-three-four plan six years of primary school, three years of lower secondary school, three years of upper secondary school — full-time, part-time or correspondence — and four years of college.

Education is compulsory and provided free of charge for the first nine years, from age 6 through Entrance into high schools, the stage following the compulsory level, is by examination only, and most of these schools charge tuition. Coeducation has become an accepted principle. The student-to-teacher ratio for primary school was at about Would-be national and local public university students must pass entrance examinations in Japanese, English, mathematics, science, and social studies.

There are three types of institutions for higher education — universities, junior colleges and technical colleges, all of which receive prefectural and national support or annual subsidies. There are 95 national universities, with each prefectural capital having one school; the remainder are in the principal cities.

The largest religious bodies, both Christian and Buddhist, maintain important universities and other educational institutions. There are many special schools for the handicapped. Educational activities for adults and youths are organized both by government and private bodies. There is a board of education in each of the 47 prefectures and 3, municipalities and these serve as the local education authority.

The central education authority is the Ministry of Education, which provides guidance and financial assistance to the local bodies. As ofpublic expenditure on education was estimated at 3. Inthe National Diet Library Law established the National Diet Library to provide reference service to the Diet, other libraries, and the general public.

Inthis library absorbed the Ueno Library the former national library as one of its branches. The National Diet Library acts as a legal depository for Japanese publications and is also a depository library for the United Nations.

There are over 7. The University of Tokyo Tokyo Daigaku has 7. Public libraries are beginning to find their place in Japanese life. Today, libraries are information centers, and increasing numbers of citizens are patronizing them. The Tokyo Metropolitan Library consists of three main branches with ties to about town and village libraries throughout the metropolitan region.

Except in large cities, typical Japanese museums take the form of the treasure halls of shrines or temples, botanical gardens, and aquariums.

Important museums include the National Science Museum, Museum of Contemporary Art, Calligraphy Museum, and the Tokyo Metropolitan Art Museum, all located in Tokyo. Also in Tokyo are the Baseball Hall of Fame and Museum, a criminal museum, and a clock museum.

In the Hyogo Prefectural Museum of Art opened in Kobe. Osaka houses a museum of natural history and the National Museum of Ethnography, and Kyoto, the former capital, has many historical sights and monuments.

Yokohama is home to an equine museum and Kanazawa Bunko, a general museum dating back to and featuring Zen Buddhist documents. There is a Peace Memorial and Museum in Hiroshima. Telephone and telegraph services are offered by Nippon Telephone and Telegraph, which was privatized inand by Japan Telecom and other companies that entered the market after Nippon Telegraph and Telephone's monopoly ended in Telex, fax, and international telegram services are provided by Kokusai Denshin — Denwa KDD.

Inthere were an estimated mainline telephones for every 1, people. The same year, there were approximately mobile phones in use for every 1, people. A semigovernmental enterprise, the Japan Broadcasting Corp. Nihon Hoso Kyokai — NHKplays a large role in Japan's radio and television communications. Started inRadio Japan is also beamed by NHK throughout the world.

There are four other national commercial networks. Some commercial stations are connected with large newspaper companies. Color television broadcasting began in ; multiplex broadcasting, for stereophonic or multiple-language programming, was made available in Tokyo and other metropolitan areas in As of there were AM and 89 FM radio stations.

Inthere were an estimated radios and television sets for every 1, people. Also inthere were The Japanese press is among the world's largest in terms of newspaper circulation and is also a leader in ratio of copies to population.

The leading Japanese dailies, with their morning and evening circulations, are: There are two domestic news agencies: The constitution of Japan provides for free speech and a free press and the government is said to respect these rights in practice.

The Japanese press enjoys the reputation of having the most vigorous and outspoken in the world. It operates under the constitutional provision of absolute prohibition of censorship. The Japan Chamber of Commerce includes several regional and local branches. Workers and employers are represented by a number of trade organizations, including the umbrella organizations of the General Council of Trade Unions, the Congress of Labor Unions, and Federation of Employers Associations.

Specialized business and industry organizations include the Japan Silk Association, the Japan Whaling Association, and the Japan Pearl Exporters' Association. The Japan Industrial Safety and Health Association serves an important role in regulating workplace safety standards.

The Japan Medical Association promotes research and education on health issues and works to establish common policies and standards in healthcare. There are several other associations dedicated to research and education for specific fields of medicine and particular diseases and conditions.

There are numerous professional associations representing a wide variety of careers. Numerous sports associations and clubs promote amateur competition in such pastimes as tae kwon do, horse racing, squash, table tennis, track and field, and cricket. The Institute of Art Research and the National Institute of Japanese Literature are important in the cultural field.

The Society for International Cultural Relations, established inis active in the publishing field and in cultural exchange. The Motion Picture Association of Japan is a prominent entertainment organization. There are many associations and clubs available for hobbyists. There are national chapters of the Red Cross Society, CARE, Greenpeace, Habitat for Humanity, and Amnesty International.

Tourism in Japan is regarded as a major industry, since many foreign visitors as well as the Japanese themselves tour the country extensively. InJapan had about 5. A visa is not necessary for stays of up to 90 days. Japan's chief sightseeing attractions are in the ancient former capital of Kyoto: Nijo Castle, Heian Jingu Shrine, the 13th-century Sanjusangendo temple, and the Kinkaku-ji Temple of the Golden Pavilion ; the Ryoan-ji Temple of the Peaceful Dragonfamed for its garden of stones and raked sand, and numerous other ancient Buddhist temples and Shinto shrines.

Nearby sights in the vicinity of Nara include the Great Buddha, a huge bronze statue originally cast in the eighth century; the Kofuku-ji pagoda; and Horyu-ji, the seventh century temple from which Buddhism spread throughout Japan. There are few historic sites in the capital — Tokyo was devastated by an earthquake in and virtually destroyed in World War II — but nearby attractions include Mt. Fuji and the hot springs of Fuji-Hakkone-Izu National Park; Nikko National Park, site of the Toshogu Shrine, where the first Tokugawa shogun is entombed; and the summer and winter sports facilities in the mountains of central Japan — the so-called Japan Alps.

The Hiroshima Peace Park and Peace Memorial Museum commemorate the destruction of the city by an atomic bomb in Baseball is Japan's national pastime; there are two professional leagues, each with six teams. Sumo, a Japanese form of wrestling, is also popular, with tournaments held six times a year. Golf, an expensive sport because of the lack of open space, is used mainly as a means of entertaining business clients. Other pastimes include judo, karate, table tennis, fishing, and volleyball.

Gardening is the most popular hobby among men and women alike. Nagano hosted the Olympic Winter Games. Murasaki Shikibu late 10th — early 11th cent. Zeami Motokiyo, — was an actor who established Noh theater and wrote a number of plays that have been part of the Noh repertoire ever since. Monzaemon Chikamatsu — wrote plays for the Bunraku theater, many of which later became part of the repertoire of Kabuki.

Basho Matsuo Munefusa, — 94 perfected the writing of the poetic form now known as haiku. In this genre, three other poets are also known: Buson Yosa — 83Issa Kobayashi —and the modern reformer Shiki Masaoka — Ryunosuke Akutagawa — is best known for his story "Rashomon. A leading modern writer and Zen Buddhist scholar was Daisetz Teitaro Suzuki — In art, Sesshu — was the most famous landscape artist of his day.

Ogata Korin — was a master painter of plants, animals, and people. The leader of the naturalist school was Maruyama Okyo — The best-known painters and wood-block artists of the " ukiyo-e " style were Kitagawa Utamaro —Katsushika Hokusai —Saito Sharaku fl. Four 20th-century Japanese architects whose work has had a marked influence on international style are Mayekawa Kunio — 86Hideo Kosaka —Kenzo Tange —and Yoshinobu Ashihara — Noted Japanese film directors include Kenjii Mizoguchi —Yasujiro Ozu — 63and Akira Kurosawa — Toshiro Mifune — 97 was the best-known film star abroad.

Important composers include Toshiro Mayuzumi — 97 and Toru Takemitsu — The leading home-run hitter in baseball history is Sadaharu Oh b. Hideyo Noguchi —noted bacteriologist, is credited with the discovery of the cause of yellow fever and is famed for his studies on viruses, snake poisons, and toxins.