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To: Joan Osland Graffius who wrote (43554)	3/18/2000 2:10:00 PM
From: Don Green	Respond to of 99985

Foreign Direct Investment In Japan Soars 240% In '99 Saturday, March 18, 2000 TOKYO (Nikkei)--Foreign direct investment in Japan jumped a hefty 240% to 1.4 trillion yen in 1999, breaching the 1 trillion yen mark for the first time, according to the Bank of Japan. The pace of investment gathered momentum in 1999, after posting record highs for the past two years. The central bank attributes the steep increase to the global industrial shake-up, the progress of deregulation and the fall in land prices which has brought down the cost of doing business in Japan. Restructuring by Japanese companies also created investment opportunities. The auto, telecom and banking and insurance sectors saw some of the biggest deals. Renault SA bought into Nissan Motor Co. (7201) while British Telecommunications Plc and AT&T Corp. took stakes in Japan Telecom Co. (9434). Manulife Financial, Canada's largest life insurer, brought Daihyaku Mutual Life Insurance Co. under its wing. Overseas direct investment by Japanese companies declined for the first time since 1993, dropping 17.6% to 2.6 trillion yen. Analysts said the figures appeared to mark a turning point in investment trends, with foreign investment in Japan rising to 53.7% of Japan's investment abroad, up some 40 percentage points from a year earlier. (The Nihon Keizai Shimbun Sunday edition)