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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (52576)	9/19/2001 4:39:28 PM
From: Proud_Infidel	Respond to of 70976

Electronics recovery likely to be prolonged By Yoshiko Hara EE Times (09/18/01 20:06 p.m. EST) TOKYO — The terrorist attack on the United States likely will push the electronics sector's financial recovery well into next year, the acting chairman of a major Japanese electronics trade group said Tuesday (Sept. 18). "The terrorist attack in New York will have a negative impact and prolong the economic recovery," said Yoichi Morishita, acting chair of the Japan Electronics and Information Technology Industries Association (JEITA). He is also chairman of the board of Matsushita Electric Industrial Co. Ltd. "It's difficult to make an accurate prediction of the impact," he said. "But after such a horrible event, and under the circumstance that the word 'war' is used, personal consumption should decrease. The prospect of the recovery [occurring in] the middle of next year becomes more difficult." JEITA, reporting results from the first half of this year, said the Japanese electronics sector sold about $102 billion in goods, 3.7 percent less than the year before. Consumer electronics production was down 8.4 percent to $7.6 billion; industrial electronics production was slightly increased by 2.3 percent to about $53 billion; and electronics devices dropped 9.5 percent to about $42 billion. "Our projection [that electronics production in Japan would grow by 7 percent] at the beginning of this year become completely an illusion. At present, about a 5-6 percent drop from the year before basis is expected, but if the fall is within that range, it should be lucky for us," said Morishita. Each of JEITA's member companies is gathering information on the aftermath of the event, and so far have reported no victims lost in the event. No industry-wide movement has been organized so far, according to Morishita. Immediately after the attacks on the World Trade Center and the Pentagon, the key Nikkei average on the Tokyo stock market sharply dropped below the 10,000-yen line for the first time in about 17 years. But on Tuesday (Sept. 17), one day after the New York stock market resumed, the Tokyo stock market rebounded. The stock prices of most of major high-tech companies such as Sony, Sharp, NEC, Toshiba, Hitachi, NTT KDDI and NTT Docomo went up. Analysts attributed the rise to the fact that Monday's price cratering on the U.S. stock market was within the range of anticipation.