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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (14668)	11/17/1997 11:37:00 PM
From: Jack T. Pearson	Read Replies (1) \| Respond to of 50167

Mohan -- Wonderful article. Thank you.

To: Cynic 2005 who wrote (14668)	11/18/1997 4:40:00 AM
From: IQBAL LATIF	Respond to of 50167

Mohan- In my opinion Japan is now attracting a lot of attention for M&A's, in WSJ today the front stories is about possiblity of Japanese firms being taken over by foreigners. Japanese companies according to this article are at cheapest in $ terms since 1992, two things will help them further one is turnaround in financial sector as government does its share of duty and second is profitiblity turnaround as $/Yen rates have certainly improved for Japanese exporters. I have mentioned before Japanese exporters like Toyota once on a tour of Japan informed us that they are competitive at 80yen to a $ what I think is a historis dsituation and therefore I am very positive that japan will within 6 months turns around. Now I talked to Industrial Bank of Japan London research chief (he has lately left to join UBK) according to him Japan problems are far exaggerated and he thinks we are about to turn around. I think like Chrysler and the other Illinous Bank and S&L which were saved by tax payers contributions we have no reason to expect that Japanese government belated recognition of intervention in its regional banks will have a very negative repurcussions on the contrary we may see a positive result. I am therefore long SNE and will expect some of the big companies like Tokyo Electron and Cannon to do well. Whenever assets in a strong global environment have reached a attractive level of valuations we have seen a turn around, I see no reason that if for three consecutive days amidst worst of pessimis 15000 was not taken out on closing basis, I will rather assume that since Basle adequacy ratios are seriously jeopardized below 15000 it will not be in interest of MOF to let this situation pass.