The current economic expansion will continue long enough to break the record this coming autumn. Companies are gaining profit and consumers are soon coming back to the market. There still exist some concerns such as steep rise in raw material prices, overheating in the U.S. market and outlook of the Chinese economy.
There is no need for Mr. Fukui to resign because he has not violated any law, but considering the importance of his position, he should have been more careful with his asset management.
He is expected to cope with this difficult situation with a positive approach such as revision of BOJ rules on disclosure of the leaders' assets.
The impact of the merger on Japanese steel industry will be relatively small. Anticipation of further scale merit seems to have driven the two companies get together. Many Japanese companies have been steadily introducing anti-hostile merger measures while pursuing more added value oriented business.
It is good news that the long-pending issue between Japan and the U.S. has been finally settled. The both governments must make every effort to ensure the safety of U.S. beef for Japanese consumers.