{"id":257,"date":"2016-06-25T08:25:33","date_gmt":"2016-06-25T08:25:33","guid":{"rendered":"https:\/\/www.hibiki-path-advisors.com\/?p=257"},"modified":"2018-11-05T15:35:25","modified_gmt":"2018-11-05T07:35:25","slug":"post-257","status":"publish","type":"post","link":"https:\/\/www.hibiki-path-advisors.com\/en\/message\/post-257\/","title":{"rendered":"Thoughts about Brexit \u2013 message for corporates"},"content":{"rendered":"<p><\/p>\n<h2>Thoughts about Brexit \u2013 message for corporates<\/h2>\n<style type=\"text\/css\">\n.table5 {\n  border-collapse: collapse;\n  width:100%;\n}\n.table5 th {\n  background-color: #ffffff;\n}\n.table5 td {\n  text-align: justify;\n}\n<\/style>\n<table class=\"table5\" border=0>\n<tr>\n<td>\n<p>On 23rd of June 2016, UK citizens decided the exit from EU in its own referendum. It is\u3000undoubtedly\u3000a historic event with extravagant impact to the whole world. As the results came out, in the morning\u3000of 24th June, global market turned into chaos as the consensus was that UK will vote \u2018remain\u2019. Yen\u3000strengthened above 100yen to the dollar, and Nikkei index fell 1286.33yen which was 7.92% over the\u3000day. Companies were caught off guard while busy in AGM season.<\/p>\n<p>I am honestly astounded by materialization of risk that well developed Democracy, which bases its\u3000unspoken assumption on continued growth in population and improvement in quality of life, when\u3000faced with slower growth, inequality in life, and aging of population, may bring an eccentric outcome.<\/p>\n<p>\u201cRemain\u201d advocates were basing their argument on short- to mid-term impact to the economy if\u3000leaving the EU, but \u201cLeave\u201d took such negatives as granted but yet argued that it is ultimately\u3000important to bring back dignity to the country \u2013 an idealistic argument.\u3000Human society development was enabled by a mystic balance between Democracy and Capitalism. A\u3000balance between personal freedom, competition and safety-net in the society. However, this Brexit\u3000incident is a strong evidence that Democracy can work as counteraction to Capitalism in a somewhat\u3000violent manner (we know it but we never saw it materialize in such big context).<\/p>\n<p>So what do companies need to do? I would like to share my very personal thoughts.\u3000Frankly\u3000speaking, I think it is easily imaginable that there will be some forces to slow down the speed\u3000or mobility of people, knowledge, and goods going forward and such will have an economic impact\u3000to businesses long term. Even the Trans-Pacific Partnership (TPP) discussion may be put on hold based\u3000on the idea by the new presidential candidates. It is getting more apparent that the direction or the\u3000drive that encouraged more global free-trade will likely face some obstacles which companies should\u3000be cautious and have good contingency plan in such circumstance.<\/p>\n<p>However, it is also at the same one of the very few moments to consider the M&#038;A strategy. Global<br \/>\nstock market is down and companies likely face some pressure on refinancing due to some credit\u3000contraction. It is actually a big chance for the wise companies to implement a big leap in their strategies\u3000by non-organic growth. Many Japanese companies traditionally with huge cash piles (with\u3000strengthening currency) is undeniably well positioned in this time of chaos.<\/p>\n<p>Former FED Chairman Mr. Greenspan was on TV on Friday citing it require countries to cooperate to\u3000control some of the growth component in the world. It is a daunting task and he himself would agree\u3000it is not easy, as such controlled economy is something that goes against the principles of Capitalism.\u3000However it is also very true that this incident that happened recently makes all of us feel clearly some\u3000of the issues and potential contradiction of the growth and the competition oriented society. There is\u3000no right answer to this problem and we need to live through this time as an individual but as a company,\u3000under whatever circumstance, it is \u201cgood\u201d conduct to try to focus on survival and growth of the\u3000business as that is what keeps the world going and what seems to be the responsibilities of companies\u3000in the society.<\/p>\n<p>Considering the risks and the minimized visibility in the future of the world (thus increased risk\u3000premiums and lower valuation of stocks), still, it is a great chance for those companies who can act on\u3000taking calculated risks. You can also buy your own shares or increase dividends to show your\u3000confidence and shareholders will react positively amid increased uncertainty. Confidence is contagious\u3000and you can start from your own company which is one thing you know well.\u3000The real chaos might still be ahead of us but it was already a good exercise to let us come back to\u3000ourselves to realize how low the visibility of the world these days.\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Thank you<br \/>\nYuya Shimizu<\/p>","protected":false},"excerpt":{"rendered":"Brexit\u306b\u969b\u3057\u3066\u601d\u3046\u3053\u3068 \u3000\uff12\uff10\uff11\uff16\u5e74\uff16\u6708\uff12\uff13\u65e5\u82f1\u56fd\u306e\u56fd\u6c11\u6295\u7968\u306b\u3088\u308a\u3001Brexit\uff08EU \u96e2\u8131\uff09\u304c\u6c7a\u5b9a\u3057\u307e\u3057\u305f\u3002\u6b74\u53f2\u7684\u306b\u6975\u3081\u3066\u5927\u304d\u3044\u30a4\u30f3\u30d1\u30af\u30c8\u304c\u3042\u308b\u6c7a\u65ad\u3067\u3059\u3002\uff12\uff14\u65e5\u306e\u30a2\u30b8\u30a2\u91d1\u878d\u5e02\u5834\u306f\u3001\u6295\u7968\u76f4\u524d\u306e\u8abf\u67fb\u3067EU 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\u3000\u307e\u3060\u307e\u3060\u672c\u5f53\u306e\u6df7\u4e71\u306f\u3053\u308c\u304b\u3089\u3060\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u4eca\u56de\u306e\u30b7\u30e7\u30c3\u30af\u306f\u4e16\u306e\u4e2d\u306e\u4e88\u898b\u6027\u304c\u6975\u3081\u3066\u4f4e\u4e0b\u3057\u3066\u3044\u308b\u3068\u5b9f\u611f\u3055\u305b\u308b\u3068\u3044\u3046\u610f\u5473\u3067\u306f\u3001\u5927\u5909\u826f\u3044\u304d\u3063\u304b\u3051\u3060\u3068\u601d\u3044\u307e\u3059\u3002 \u3072\u3073\u304d\u30fb\u30d1\u30fc\u30b9\u30fb\u30a2\u30c9\u30d0\u30a4\u30b6\u30fc\u30ba \u4ee3\u8868\u53d6\u7de0\u5f79 \u6e05\u6c34\u96c4\u4e5fThoughts about Brexit \u2013 message for corporates .table5 { border-collapse: collapse; width:100%; } .table5 th { background-color: #ffffff; } .table5 td { text-align: justify; } On 23rd of June 2016, UK citizens decided the exit from EU in its own referendum. It is\u3000undoubtedly\u3000a historic event with extravagant impact to the whole world. As the results came out, in the morning\u3000of 24th June, global market turned into chaos as the consensus was that UK will vote \u2018remain\u2019. Yen\u3000strengthened above 100yen to the dollar, and Nikkei index fell 1286.33yen which was 7.92% over the\u3000day. Companies were caught off guard while busy in AGM season. I am honestly astounded by materialization of risk that well developed Democracy, which bases its\u3000unspoken assumption on continued growth in population and improvement in quality of life, when\u3000faced with slower growth, inequality in life, and aging of population, may bring an eccentric outcome. \u201cRemain\u201d advocates were basing their argument on short- to mid-term impact to the economy if\u3000leaving the EU, but \u201cLeave\u201d took such negatives as granted but yet argued that it is ultimately\u3000important to bring back dignity to the country \u2013 an idealistic argument.\u3000Human society development was enabled by a mystic balance between Democracy and Capitalism. A\u3000balance between personal freedom, competition and safety-net in the society. However, this Brexit\u3000incident is a strong evidence that Democracy can work as counteraction to Capitalism in a somewhat\u3000violent manner (we know it but we never saw it materialize in such big context). So what do companies need to do? I would like to share my very personal thoughts.\u3000Frankly\u3000speaking, I think it is easily imaginable that there will be some forces to slow down the speed\u3000or mobility of people, knowledge, and goods going forward and such will have an economic impact\u3000to businesses long term. Even the Trans-Pacific Partnership (TPP) discussion&hellip;","protected":false},"author":1,"featured_media":532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,16],"tags":[6],"class_list":{"0":"post-257","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-message","8":"category-16","9":"tag-yuya-shimizu"},"views":4634,"_links":{"self":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts\/257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/comments?post=257"}],"version-history":[{"count":11,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts\/257\/revisions"}],"predecessor-version":[{"id":1247,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts\/257\/revisions\/1247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/media\/532"}],"wp:attachment":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/media?parent=257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/categories?post=257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/tags?post=257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}