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The Yomiuri Shimbun June 25, 2013
Govt needs to make unified efforts to reduce burden on Okinawa
首相沖縄訪問　政府一丸で基地負担を減らせ（6月24日付・読売社説）

To reduce the excessive burden on Okinawa Prefecture of hosting U.S. military bases, the government must make unified efforts.
　沖縄の過重な米軍基地負担を軽減するため、政府は一丸となって努力する必要がある。

On Sunday, the 68th anniversary of the end of the Battle of Okinawa during World War II, Prime Minister Shinzo Abe visited the prefecture and attended a memorial ceremony held to console the souls of those who died in the battle.
　太平洋戦争の沖縄戦で組織的戦闘が終結したとされる「慰霊の日」の２３日、安倍首相が沖縄県を訪問し、沖縄全戦没者追悼式に出席した。

Foreign Minister Fumio Kishida, Defense Minister Itsunori Onodera and Ichita Yamamoto, state minister for Okinawa affairs, also attended the ceremony. It marked the first participation by foreign and defense ministers since such ceremonies were first held in 1962.
　式典には、岸田外相、小野寺防衛相、山本沖縄相も同席した。外相、防衛相の出席は初めてだ。

To tackle the Okinawa issues, it is essential that the ministries concerned closely cooperate with each other and coordinate views with local governments in a multitiered manner.
沖縄問題に取り組むには、関係府省の緊密な連携と、地元との重層的な調整が欠かせない。

‘Visible’ reduction

Following the ceremony, Abe said his government would implement measures to reduce the burden of Okinawa “visibly.” With regard to the U.S. Marine Corps’ Futenma Air Station, Abe said the Futenma base should not be permanently used. “We’d like to make efforts to realize the relocation of the base as soon as possible,” he said.
　首相は式典後、基地負担軽減について「目に見える形で実施したい」と語った。米軍普天間飛行場に関しては、「固定化はあってはならない。一日も早い移設に努力を重ねたい」と強調した。

The governments of Japan and the United States announced in early April that the tracts of land, more than 1,000 hectares when combined, that are now used for the six U.S. military facilities in the southern part of the prefecture will be returned to Japan over the next 10 to 16 years.
　日米両政府は４月上旬、県南部の米軍６施設について１０～１６年間程度で計１０００ヘクタール以上の広大な土地を返還する計画を発表した。

The quickest way to reduce Okinawa’s burden of hosting the U.S. bases is to steadily implement this plan. It is particularly important to realize the relocation of Futenma Air Station in Ginowan to the Henoko area of Nago.
この計画の着実な実行こそが沖縄の負担を減らす最大の近道だ。
　特に普天間飛行場の辺野古移設を実現することが重要である。

Both governments agreed on June 13 that the return of the residential area of western Futenma used by Camp Zukeran in Ginowan, originally scheduled for next fiscal year, would be carried out within this year.
　日米両政府は今月１３日、来年度に予定していたキャンプ瑞慶覧の西普天間住宅地区の返還を年内にも前倒しすることで合意した。

This can be highly evaluated as part of the government’s efforts to improve the environment for Okinawa Gov. Yoshikazu Nakaima to approve the reclamation of land from public waters, planned in line with the relocation of the air station to the Henoko coastal area.
　普天間飛行場の辺野古移設に伴う公有水面埋め立てを、仲井真弘多知事が承認しやすくするための環境整備の一環と評価できる。

It is important for the central and local governments to hold talks over those areas that are to be vacated with the return of the U.S. military facilities and discuss ways to use them more efficiently. Such efforts should be made in tandem with the implementation of various measures designed to promote the local economies of Okinawa. They would certainly enhance the significance of the return of the U.S. bases to Japan.
　大切なのは、基地返還後の跡地について、政府と地元自治体などが協議し、より効率的な利用策を検討することだ。様々な沖縄振興策とも連動させたい。それが基地返還の価値を高めよう。

Promotion of economy

After the ceremony, Abe and Nakaima exchanged views over how to promote the Okinawa economy. While fostering their relationship of trust, Abe should win a broader understanding of Nakaima over the Futenma relocation to the Henoko district.
　首相は式典後、沖縄振興策について知事と意見交換した。信頼関係を醸成しつつ、辺野古移設への知事の理解を広げるべきだ。

On the other hand, the reduction of Okinawa’s burden of hosting U.S. bases should be made, in principle, while maintaining the deterrence of the U.S. forces stationed in Okinawa Prefecture.
　一方で、基地負担の軽減はあくまで、在沖縄米軍の抑止力の維持と両立させなければならない。

This is essential because the ability to respond rapidly and maintain mobility of the Self-Defense Forces and the U.S. forces stationed in Japan has become more important in the light of the nuclear and missile development by North Korea and the rapid military buildup and aggressive actions of China.
　北朝鮮の核・ミサイル開発や、中国の急速な軍備増強と示威活動の拡大を踏まえれば、自衛隊と米軍の即応・機動力の重要性が今、一段と増しているからだ。

The town assembly of Yonaguni, Okinawa Prefecture, approved on Thursday the lease of land to the central government needed for the deployment of a Ground Self-Defense Force unit on the Yonaguni Island to monitor coastal areas.
　沖縄県与那国町議会は２０日、与那国島への陸上自衛隊沿岸監視部隊の配備に伴う町有地の国への賃貸を承認した。

The Defense Ministry and the town were once at odds over the payment of cooperation expenses to the town concerning the deployment of the GSDF unit. But they are expected to conclude the lease contract later this week.
防衛省と町は一時、陸自配備に関する町への協力費支払いをめぐって対立したが、週内にも賃貸契約を結ぶ運びだ。

For both the SDF and the U.S. forces in Japan to operate effectively, it is essential for both to build stable and amicable relations with local officials concerned. The Defense Ministry needs to continuously deepen its ties with Okinawa by making use of various opportunities in the days ahead.
　自衛隊や米軍が効果的な活動を行うには、地元関係者と安定的で良好な関係を築くことが前提となる。防衛省は引き続き、様々な機会をとらえ、沖縄との関係を深めることが求められる。

(From The Yomiuri Shimbun, June 24, 2013)
（2013年6月24日01時40分 読売新聞）

The Yomiuri Shimbun June 25, 2013
Abenomics helped LDP, Komeito score huge victory in Tokyo poll
都議選自公完勝　アベノミクスへの期待票だ（6月24日付・読売社説）

The administration of Prime Minister Shinzo Abe has been given a significant boost. It remains to be seen whether the voters’ verdict this time will affect the outcome of next month’s House of Councillors election.
　安倍政権にとっては大きな追い風だ。
　有権者の政権に対する支持が本物かどうかは、来月の参院選で試されることになろう。

In the Tokyo Metropolitan Assembly election on Sunday, all of the Liberal Democratic Party’s candidates were elected, and the LDP regained its status as the largest party in the assembly. The LDP’s coalition partner, New Komeito, also succeeded in having all of its candidates elected, and it took over as the second-largest force.
　東京都議選で自民党は候補者全員が当選し、都議会第１党を奪還した。公明党も手堅く全勝し、第２党の座を占めた。

The LDP and Komeito, which form the ruling coalition, threw their support behind Tokyo Gov. Naoki Inose and together far exceeded a majority of seats in the 127-seat assembly. The metropolitan government will certainly gain stability.
猪瀬直樹知事の与党である自公両党の議席が過半数を大幅に超え、都政が安定するのは間違いない。

DPJ trounced

As there were few contentious issues on how to steer the administration of the metropolitan government, the assembly election, the first major electoral contest since the second Abe Cabinet was launched in December, focused mainly on the public’s evaluation of Abenomics, the Abe administration’s handling of economic policies.
　第２次安倍内閣の発足後、初の大型選挙となった都議選では、都政に関する大きな争点が不在だったこともあって、もっぱら安倍政権の経済政策「アベノミクス」に対する評価が焦点となった。

Given the landslide victory of both the LDP and Komeito, it can safely be said the Abe administration’s key policies and its government management received a favorable rating from Tokyo voters.
　自公両党の完勝によって、安倍政権の政策と政権運営は、前向きの評価を得たと言える。

However, there have been a number of recent cases in which candidates backed by the LDP have lost to incumbents in local contests, including the June 16 gubernatorial election in Shizuoka Prefecture.
　ただ、静岡県知事選など最近の地方選では、自民党系の候補が現職に敗れるケースが目立つ。

Commenting on the results of the Tokyo assembly election, Abe told reporters, “What we need now is to brace ourselves by deepening our sense of humility.”
安倍首相は選挙後、「今求められているのは、一層謙虚に身を引き締めていくことだ」と語った。

The DPJ, which became the largest party after the previous Tokyo assembly election in 2009, suffered a shattering defeat, plunging to fourth position in the assembly. This appears to reflect the deep-rooted distrust of voters after the party committed a number of serious blunders over the handling of national politics. It is evident that the party has failed to stop its decline in strength.
　前回都議選で第１党に進出した民主党は、地滑り的な大敗を喫し、第４党に転落した。国政で失政を重ねたことに対する有権者の不信感が、いまだに根強いことの証左である。退潮傾向に歯止めはかからなかったと言えよう。

In its latest electoral campaign, the DPJ stressed the negative aspects of Abenomics by taking note of the current erratic fluctuations of stock prices and exchange rates. The party’s unyielding reproach against the government without offering counterproposals apparently failed to satisfy the electorate.
　民主党は、株価や為替相場が乱高下していることなどから、アベノミクスのマイナス面を訴えた。だが、批判一辺倒で説得力に欠けたのではないか。

In the upcoming upper house race, the DPJ should have in-depth policy discussions with the LDP by presenting specific policy measures that offer an alternative to government policies.
　参院選では、具体的な対案を示し、自民党との政策論争を深めてもらいたい。

Despite fielding a large number of candidates in the Tokyo assembly race, Nippon Ishin no Kai (Japan Restoration Party) fared extremely poorly. This was probably due to remarks by the party’s coleader Toru Hashimoto regarding the issue of so-called comfort women.
　日本維新の会は大量の候補を擁立したにもかかわらず、全く振るわなかった。橋下共同代表のいわゆる従軍慰安婦問題をめぐる発言が響いたのだろう。

During the campaign, former Tokyo Gov. Shintaro Ishihara, the other party coleader, complained about Hashimoto. In response, Hashimoto hinted he might step down from the party’s top post depending on the outcome of the Tokyo contest.
　石原共同代表が選挙期間中に橋下氏に苦言を呈し、橋下氏も都議選の結果次第では辞任もあり得ると発言する事態にまで至った。

It should be noted that Tokyo is Ishihara’s hometown. The disastrous defeat of Ishin no Kai should be attributed partly to the dwindling influence of Ishihara over Tokyo voters.
　ただ、東京は石原氏の地元だ。今回の惨敗は石原氏の影響力低下に負う面も小さくない。

Link with upper house race

Your Party, which withdrew from an electoral cooperation accord with Ishin no Kai because of the Hashimoto remarks on the comfort women issue, did remarkably well considering it fought the election single-handedly. The party seems to have obtained some degree of support from floating voters who are averse to the LDP and the DPJ.
　みんなの党は、橋下発言を機に維新との選挙協力を解消して選挙に臨んだが、躍進した。自民、民主両党に批判的な無党派層の一定の受け皿になったと見られる。

The Japanese Communist Party doubled its seats in the Tokyo assembly to become the third-largest party in the assembly. This may be due to the low turnout compared with the previous Tokyo assembly election as well as its solid support base on the strength of its organizational skills.
　共産党も議席を倍増し、民主党を抜いて第３党に進出した。投票率が前回を大きく下回ったことなどが、組織力のある政党を押し上げたと言えよう。

Attention is now focused on how the respective parties’ vote-garnering capabilities that have been demonstrated in the Tokyo race may affect the electoral landscape for the July upper house election.
　今回の都議選で表れた各党の得票動向が、参院選にどう連動するか注目される。

(From The Yomiuri Shimbun, June 24, 2013)
（2013年6月24日01時40分 読売新聞）

The Yomiuri Shimbun June 24, 2013
How far is China going to heighten tensions in the region?
中国海洋強国化　地域の緊張どこまで高めるか（6月23日付・読売社説）

As long as China has committed itself to taking a path of “peaceful development,” it must take the initiative and relax tensions in its international relations.
　「平和発展」を標榜(ひょうぼう)するなら、中国は率先して緊張緩和をすべきだ。

The administration of President Xi Jinping, which has declared this year the “first year for making China a maritime power,” has been accelerating moves aimed at forcibly enclosing the East China Sea and South China Sea.
　今年を「海洋強国化」の元年と位置づけた習近平政権が、東シナ海と南シナ海を力で囲い込む動きを着実に加速させている。

In late April, Beijing started cruise tours to the Paracel Islands in the South China Sea, triggering a fierce reaction from Vietnam, which has been locked in a territorial dispute with China over the islets.
　ベトナムと領有権を争う南シナ海の西沙諸島では、４月末にクルーズ船ツアーを開始し、ベトナムの強い反発を招いた。

Each cruise tour comprises about 200 passengers who can swim and go sightseeing on the islets, in what appears to be an attempt to make the visitors tangibly feel that China wields effective control over the chain. The scale of the tours is likely to be expanded.
　ツアーは２００人規模で、観光や海水浴を通じて乗客に実効支配を体感させる内容だ。今後、規模を拡大するとみられる。

‘Patriotic education’

Beijing launched the cruise tour program after the city of Sansha was placed in charge of administering three island groups--the Paracel Islands, the Spratly Islands and the Macclesfield Bank--in June last year.
　昨年６月に、西沙、南沙、中沙の３諸島を管轄する「三沙市」を設置したのに続く措置だ。

The cruise tours of the Paracels are considered part of China’s “maritime version of the patriotic education program,” along with the planned construction of a national maritime museum in the suburbs of Tianjin, northern China, with a view to broadening public support for Beijing’s bid to secure its maritime interests.
　海洋博物館建設と並ぶ、海洋権益確保への支持を広げる「海洋版・愛国教育」の一環である。

On Wednesday, Xi met with his Vietnamese counterpart on his trip to China. A joint statement released after their talks stated the two countries will “remain calm and avoid action that could complicate or escalate a dispute.”
　習国家主席は１９日、訪中したベトナム国家主席と会談した。その後の共同声明では、「争いを複雑化、拡大させる行動はとらない」としている。

That these two countries at loggerheads have agreed to prevent any further deterioration of ties over the dispute should be welcomed. It is crucial, however, that China and Vietnam abide by the accord, rather than just letting it end up as words on paper.
　対立する両国が紛争悪化に歯止めをかける点で一致したことは歓迎できる。言葉だけに終わらせず、順守することが肝要だ。

In May, Chinese surveillance ships started patrols in waters surrounding the Spratly Islands that have been under the effective control of the Philippines. This is similar to China’s regular patrols by surveillance vessels since last year in waters around the Scarborough Shoal near the Macclesfield Bank.
　中国はフィリピンが実効支配している南沙の一部海域で、５月に監視船の巡回を実施した。昨年来、中沙のスカボロー礁で監視船の巡回を常態化させている措置を想起させる動きである。

In February, Beijing’s first aircraft carrier, the Liaoning, docked for the first time at its homeport in Qingdao, Shangdong Provice. China is believed poised to have the Liaoning set out for a long-distance voyage before the end of the year. Flaunting its bolstered naval capabilities may be designed to put pressure on Japan, the United States and other countries.
　２月には、山東省青島を中国初の空母「遼寧」の母港とした。年内にも遠洋航海させる構えだ。海軍力増強の誇示は、日本や米国に圧力をかける狙いがあろう。

Chinese surveillance ships have continued to make regular intrusions in waters near the Senkaku Islands, Okinawa Prefecture.
　沖縄県・尖閣諸島周辺では、監視船の領海侵入が続いている。

In the latest U.S.-China summit meeting, President Barack Obama was quoted as telling Xi that the U.S. government would not accept China intimidating Japan, a U.S. ally. This remark can be interpreted as a warning to China over repeated provocations by its ships in the waters. Obama’s remark is important in that it will solidify the Japan-U.S. alliance.
　オバマ米大統領は先の米中首脳会談で、「同盟国である日本が中国に脅迫されるのを見過ごすことはできない」と述べたという。監視船による挑発を念頭に中国を牽制(けんせい)したものだろう。日米同盟強化につながる重要な発言である。

‘Shelving’ logic irrational

We cannot overlook the fact that high-ranking officials of the Xi administration are trying to change the status quo over the Senkakus by reiterating that the issue “must be shelved.”
　看過できないのは、尖閣について、習政権の要人が度々「棚上げ」論を持ち出し、現状変更を図ろうとしていることだ。

Fundamentally, no territorial problem between Japan and China exists, so there is nothing to be shelved.
　そもそも「棚上げ」すべき領土問題は存在しない。

Back in 1992, China itself did away with the logic of “shelving” the dispute by stipulating explicitly for the first time what it claims to be China’s “sovereignty” over the Senkaku Islands in its Territorial Waters Law.
１９９２年に初めて領海法で尖閣の「領有」を明記し、「棚上げ」を破棄したのは他ならぬ中国ではないか。

In a series of meetings of the Association of Southeast Asian Nations to be held from late this month to early July, discussions will be made on various issues, including the principle of the “rule of law” in the South China Sea.
　今月末から来月初めにかけて開かれる東南アジア諸国連合（ＡＳＥＡＮ）の一連の会議では、南シナ海での「法の支配」などを巡る議論が行われる。

At these meetings, the Japanese government must actively explain the historial facts involving the Senkakus and the urgent need to strictly abide by internationally acceptable rules so as to persuasively convey Japan’s position.
　政府は歴史的経緯とルール厳守の緊要性を積極発信し、日本の立場を訴えていかねばならない。

(From The Yomiuri Shimbun, June 23, 2013)
（2013年6月23日01時32分 読売新聞）

The Yomiuri Shimbun June 23, 2013
Obama's call for U.S., Russian N-cuts should help boost stability in Asia
米核軍縮提案　中国の核増強にも目を向けよ（6月22日付・読売社説）

U.S. President Barack Obama’s proposal for Russia to start new negotiations to reduce both sides’ nuclear weapons should lead to enhancement of security in Asia amid a growing mood for nuclear disarmament.
　核軍縮の機運の高まりを生かし、アジアの安全保障環境の改善へつなげることが重要である。

In Berlin, Obama recently made a speech seeking such negotiated cuts with Russia.
　オバマ米大統領がドイツの首都ベルリンで演説し、ロシアに新たな核軍縮交渉を提案した。

Obama said he wants to reduce the maximum number of U.S. and Russian deployed strategic nuclear warheads by one-third from 1,550--set under the New START, which stands for Strategic Arms Reduction Treaty--to about 1,000 each.
　戦略核弾頭の配備数の上限を、現在の米露の新戦略兵器削減条約（新ＳＴＡＲＴ）が規定する１５５０個から３分の１減らして、１０００個程度にしたいという。

He also intends to target smaller, tactical nuclear weapons, which are less powerful, for the proposed cuts.
　比較的威力が小さい戦術核兵器も、削減対象に加える方針だ。

The U.S. president appears to have used the speech to express his willingness to continue to pursue nuclear disarmament during his second term in office after achieving the conclusion of the New START in his first term.
　オバマ氏は、任期１期目で達成した新ＳＴＡＲＴに続く核軍縮の成果を、２期目でも引き続き追求する意欲を表明したと言える。

Prospects of N-talks unclear

However, Russia has given the cold shoulder to Obama’s call, with Russian Deputy Prime Minister Dmitry Rogozin saying Moscow “can’t take such a proposal seriously.”
　ロシア側は、ロゴジン副首相が「真剣に受け止めることはできない」と述べるなど、提案の受け入れには否定的だ。

Russia is strongly concerned that U.S. plans for a missile defense system in Europe could weaken its nuclear deterrent capability.
米国が欧州で進めるミサイル防衛（ＭＤ）計画によって自らの核抑止力が弱まることを強く警戒しているためだ。

Therefore, prospects of the proposed nuclear disarmament negotiations are dim. But the United States and Russia, both nuclear superpowers, in particular bear responsibility for ensuring world stability.
　軍縮交渉の行方は不透明だ。それでも核大国の米露両国には、世界の安定に特別の責任がある。

At present, there are reportedly more than 10,000 nuclear weapons in the world, of which 95 percent are owned by these two countries. It is not convincing if they urge other countries to refrain from having nuclear weapons or to reduce their nuclear arsenals without making any reductions themselves. We hope the both countries will keep that point in mind and sincerely work on nuclear reductions.
　世界には１万を超す核兵器がある。その９５％を保有する両国が、自らの核を削減せずに、いくら他国に核を持つな、核を減らせ、と言っても、説得力は持つまい。その点を自覚して、核軍縮に真摯(しんし)に取り組んでもらいたい。

In making the proposal, Obama also said his country would work together with its North Atlantic Treaty Organization allies to seek cuts in U.S. and Russian strategic nuclear weapons.
　今回の核軍縮提案に際し、オバマ氏は、戦術核の削減へ向け、北大西洋条約機構（ＮＡＴＯ）の同盟国とも協力すると述べた。

N-weapons spreading in Asia

Meanwhile, the ability of Obama, who won the Nobel Peace Prize for his vision and work to seek “a world without nuclear weapons,” likely will be tested over his future efforts in Asia, where nuclear weapons have spread.
　「核兵器のない世界」の理念を掲げてノーベル平和賞を受賞したオバマ氏の真価が問われているのは、核を巡る環境が悪化しているアジアでの取り組みだ。

Currently, China has about 250 nuclear warheads. China, India and Pakistan have been building up their nuclear arsenals while North Korea has conducted three nuclear tests, pressing ahead with its efforts to develop nuclear missiles.
　中国の核弾頭は２５０個に達している。その中国やインド、パキスタンは核兵器を増強し、北朝鮮は核実験を３度強行して核ミサイル武装化にひた走っている。

In Japan, which depends on the U.S. “nuclear umbrella” amid such circumstances, some people may worry that Washington’s push for nuclear reductions could have adverse effects on regional stability in Asia.
　米国の“核の傘”に抑止力を頼っている日本としては、こうした状況で米国が核軍縮を進めれば、かえって地域の安定が損われはしまいか、とも懸念される。

However, Obama said in the Berlin speech, “I’ve determined that we can ensure the security of America and our allies, and maintain a strong and credible strategic deterrent,” even if the United States and Russia reduce their nuclear weapons in line with Obama’s proposal. Such remarks are reassuring.
　オバマ氏が、今回提案の核削減を実行しても、「米国と同盟国の安全は確保でき、抑止力を維持できる」と述べたことは心強い。

Meanwhile, we urge China to promote nuclear reductions in tandem with the United States and Russia. Chinese President Xi Jinping and Obama have agreed to push for North Korea’s denuclearization. To urge Pyongyang to abandon nuclear weapons, however, Beijing should scale down its own nuclear capability.
　中国には、米露に協調して核削減を進めるよう、強く求めたい。中国の習近平国家主席はオバマ氏と、北朝鮮の非核化で一致した。北朝鮮に核放棄を迫るためにも自らの核軍縮が求められよう。

Also, to allow the Comprehensive Nuclear Test Ban Treaty to come into force as early as possible, Washington and Beijing should work together to build support in their countries to ratify it.
　核実験全面禁止条約（ＣＴＢＴ）の早期発効へ、条約批准を急ぐ点でも米中は協調すべきである。

(From The Yomiuri Shimbun, June 22, 2013)
（2013年6月22日01時33分 読売新聞）

The Yomiuri Shimbun June 22, 2013
Fed needed to steer policy for preventing market turmoil
ＦＲＢ出口戦略　市場の混乱防ぐ舵取りが要る（6月21日付・読売社説）

The U.S. Federal Reserve Board is poised to begin scaling back by the end of the year its third round of quantitative monetary easing, a huge stimulus program known as QE3 that has helped shore up the U.S. economy.
　米連邦準備制度理事会（ＦＲＢ）が、米国景気を下支えしてきた異例の規模の量的緩和策第３弾（ＱＥ３）を、年内に縮小し始める見通しだ。

Fed Chairman Ben Bernanke, in a press conference Wednesday following a two-day meeting of the bank's monetary policy panel, the Federal Open Market Committee, revealed for the first time the central bank's “exit strategy” for normalizing its ultra-easy monetary policy.
　バーナンキＦＲＢ議長は１９日、連邦公開市場委員会（ＦＯＭＣ）後に記者会見し、金融政策を正常に戻す「出口戦略」を初めて明らかにした。

Regarding QE3, under which the the Fed purchases Treasury and mortgage-backed bonds at a monthly pace of $85 billion (about 8.2 trillion yen), Bernanke said it would be “appropriate to moderate the monthly pace of purchases later this year...and we will continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around mid-year,” as long as the country sustains its economic recovery.
　景気回復が順調に進めば、米国債などを毎月８５０億ドル（約８・２兆円）買い入れているＱＥ３について、「年後半にペースを縮小し、来年半ばに購入を終了するのが適切」と述べた。

Sign of confidence

The Fed's announcement of a policy shift toward reducing QE3 and clearly stating a goal for ending it, while predicated on the condition that the U.S. economy continues to grow as expected, received attention worldwide and is certain to have wide-ranging effects.
　条件付きながら、焦点だったＱＥ３の縮小と終了時期を表明した影響は大きい。

Ever since the financial crisis that erupted following the collapse of Lehman Brothers in September 2008, the U.S. central bank has carried out quantitative easing three times to end the crisis and prop up business activity.
　２００８年のリーマン・ショック後、ＦＲＢは、金融危機を収束させるとともに、景気テコ入れのため、量的緩和策を３回にわたって実施してきた。

The long-awaited launch of an exit strategy signals the central bank is ready to make a major change to policies that were aimed at coping with an emergency situation.
いよいよ出口戦略に動き出すことは、非常時に対応した政策の転換を意味する。

Bernanke’s bold remarks appear to be backed by confidence in the fundamentals of the U.S. economy, which have indicated recovery recently. He may also have thought it necessary to dispel a sense of uncertainty in the market over the future of U.S. monetary policy.
　議長の踏み込んだ発言には、最近の米国の景気回復基調に自信を深めていることがうかがえる。金融政策の先行き不透明感を払拭したい狙いもあるのだろう。

Stock prices in New York, however, tumbled on Wednesday with the Dow Jones industrial average closing more than 200 points lower than the previous day, while prices on the Tokyo Stock Exchange also dropped sharply on Thursday.
　しかし、１９日のニューヨーク株式市場の株価は、前日比２００ドル以上も値下がりし、２０日の東京市場の株価も大幅に下落した。

These declines were largely due to a surge in investors selling shares out of fears that cash flowing into the market may dwindle.
　株式市場への資金流入が減少するとの懸念から、日米とも売りが膨らんだのが主因だ。

In the wake of Bernanke’s statement, concerns will likely persist over erratic fluctuations in stock prices and foreign exchange rates in the world's markets, which will present the Fed with the knotty task of preventing market confusion.
　今後も、世界の株価や為替相場の乱高下を招く恐れがある。市場の混乱防止へ、ＦＲＢは難しい舵(かじ)取りを迫られる。

Toward the end of last year, the Fed said it would not lift short-term interest rates from zero until the unemployment rate shrinks to 6.5 percent, while also keeping an eye on inflation. The easy-money measure has been in place since December 2008.
　ＦＲＢは昨年末、異例策の一環として０８年１２月から続けるゼロ金利政策の解除については、インフレ率を見ながら、「失業率が６・５％に下がるまで続ける」という方針を示している。

It is widely believed, however, that the U.S. jobless rate will not move from the current 7.6 percent to the Fed's target until 2014 at the earliest. Improvement in the U.S. employment situation has remained slow, making a full-fledged economic recovery uncertain.
　ただし、現在７・６％の失業率が６・５％に低下するのは早くても１４年とみられる。雇用情勢の改善は緩慢で、本格的な景気回復は不透明だ。

Learn from U.S. challenges

Moreover, possible adverse impacts on business activities of fiscal belt-tightening by the administration of President Barack Obama cannot be underestimated.
オバマ政権の財政引き締めの悪影響も軽視できない。

Will the Fed be able to lift its zero interest rate policy after bringing QE3 to an end without causing market tumult? In this respect, we urge the central bank to use all the tools at its disposal to maintain a “dialogue with the market.”
　混乱なくＱＥ３を終了させ、それに続いて、ゼロ金利政策解除にいつ踏み切るか。ＦＲＢは、「市場との対話」をさらに工夫することが求められよう。

The Bank of Japan, which has also implemented an extraordinary monetary easing policy, should learn from challenges the Fed is now addressing.
　異次元の量的緩和策を続ける日本銀行にとっても、ＦＲＢの課題は「他山の石」と言える。

The BOJ needs to maintain its focus on ending deflation and resuscitating the national economy to maximize the effects of its monetary policy. But sooner or later, the central bank will need to seriously examine how it will dial back these policies.
　当面は、デフレ脱却や日本経済再生を最優先し、緩和効果の最大化を図るべきだが、将来の出口戦略に向け、いずれ本格的に検討を進める必要がある。

(From The Yomiuri Shimbun, June 21, 2013)
（2013年6月21日01時20分 読売新聞）

The Yomiuri Shimbun June 21, 2013
Japan, Abenomics grabbed spotlight at G-8 summit meeting
Ｇ８首脳宣言　日本経済が久々に示す存在感（6月20日付・読売社説）

For the first time in many years, a Japanese prime minister has grabbed the spotlight in the international arena. Now all eyes are on whether Shinzo Abe can steadily implement his policies to rejuvenate Japan’s economy, a pledge the prime minister presented to world leaders at the recent Group of Eight summit meeting.
　久しぶりに日本の首相が存在感を示した。公約となった日本経済の再生に向け、政策の着実な実行が求められよう。

The summit meeting, held at Lough Erne, Northern Ireland, concluded Tuesday after the adoption of a joint statement. Leaders of Japan, the United States, Germany, and other G-8 nations took part in the meeting.
　英国の北アイルランドで行われた日米独など主要８か国首脳会議（Ｇ８サミット）は、首脳宣言を採択し、閉幕した。

“Global economic prospects remain weak,” the statement said, stressing the necessity for countries “to press ahead with the necessary reforms to restore sustainable growth and jobs.”
　宣言は「世界経済の成長見通しは弱い」との認識を示した上で、「持続可能な回復へ断固たる行動が必要」と強調した。

The eurozone economy is still trapped in negative growth, and the growth of China and other emerging nations, which have been serving as the locomotive of the world economy, has lost steam. It was absolutely necessary for the G-8 nations to reconfirm their unity at the summit.
　ユーロ圏はマイナス成長が続き、牽引(けんいん)役だった中国など新興国の景気減速も目立つ。Ｇ８が結束を再確認したのは適切である。

Expectations for Abenomics

One of the agenda items discussed at the meeting was Abenomics, the economic policy of the Abe administration. During the meeting, Abe told world leaders that “Japan’s economic development will give a boost to the economic progress of the world.”
　今回、焦点の一つになったのが安倍政権の経済政策「アベノミクス」だ。安倍首相は会議で、「日本経済の発展が世界経済の発展に貢献する」と説明した。

It is noteworthy that the statement referred to the so-called “three arrows” of Abenomics--bold monetary easing, fiscal stimulus and growth strategy. The statement gave a positive assessment to Abenomics, saying that the three arrows would underpin the nation’s growth.
　宣言が大胆な金融緩和、財政刺激策、成長戦略という「３本の矢」に言及し、「日本の成長を支える」と評価した意味は重い。

Japan must work hard to meet this global expectation and speed up its efforts to conquer deflation and rejuvenate its economy.
　日本は期待に応え、世界の成長に寄与できるよう、デフレ脱却と経済再生を急がねばならない。

However, the statement did not forget to make requests of Japan, whose fiscal condition is the worst among advanced nations. Japan needs to “address the challenge of defining a credible medium-term fiscal plan,” the statement said.
　先進国最悪の財政状況にある日本には、厳しい注文も付いた。宣言が「信頼できる中期的な財政計画」を求めたことだ。

The Abe administration plans to draw up a medium-term fiscal plan this summer. It is crucial for the government to show in the fiscal plan a concrete path toward simultaneously achieving the goals of economic growth and fiscal rehabilitation. After announcing the plan, the government must make wholehearted efforts to realize it.
　政府は、今夏策定する中期財政計画で、成長と財政再建の両立への具体的な道筋を示し、その実現を図ることが肝要である。

The statement said open trade is a key engine of global economic growth. It listed ongoing free trade talks, such as the Trans-Pacific Partnership framework talks in which Japan is involved, and added that the G-8 nations “aim to finalize all these deals as soon as possible.” In this regard, we urge the Abe administration to speed up its preparations for agricultural liberalization.
　世界が成長するための原動力は自由貿易推進だとして、宣言は、日本が参加する環太平洋経済連携協定（ＴＰＰ）交渉などについて「可能な限り速やかな完結を目指す」と明記した。日本は、農業自由化への対応を急ぐべきだ。

Regarding the problem of tax avoidance, or global companies trying to reduce their tax payments by exploiting low tax rates of certain countries, the G-8 leaders agreed to speed up their efforts to create an international legal framework to prevent such moves. This is an important step forward--we urge Japan to play a leading role in establishing a framework that enables countries to fairly collect taxes from companies.
　グローバル企業が税率の低い国の制度を利用して節税している問題に関し、Ｇ８首脳が、課税逃れ防止の国際ルール作りを急ぐことで合意したのは前進だろう。日本などが主導し、適正に徴税できる仕組みを整えてもらいたい。

Pile pressure on N. Korea

The G-8 leaders also agreed to take concerted action on measures against terrorism in North Africa, in light of January’s hostage crisis at an Algerian natural gas complex. This is also a laudable development.
　一方、１月のアルジェリア人質事件を受け、北アフリカ諸国でのテロ対策にＧ８が協調することで一致したのは評価できる。

The joint statement demanded North Korea to abandon its nuclear and ballistic missile programs and refrain from taking provocative actions. It also urged Pyongyang to address the concerns of the international community over its human rights violations, including the abduction issue.
　宣言は、北朝鮮に核・弾道ミサイル計画の放棄を要求し、挑発行為の自制を促した。懸案の拉致問題を巡っても、人権侵害に関する懸念の解消に取り組むことを北朝鮮に強く求めた。

We believe it suggests that Abe’s message on North Korean problems was appreciated by the G-8 leaders. Abe has been keen to express Japan’s stance on the issue.
　首相が日本の立場を主張し、理解を得た成果と言える。

The G-8 leaders should also seek to join hands with China to urge North Korea to comply with U.N. Security Council resolutions as well as obligations stipulated in a joint statement issued in six-party talks on Pyongyang’s nuclear program.
　Ｇ８は中国とも連携し、北朝鮮に対し、国連安全保障理事会の決議や、核問題に関する６か国協議の共同声明にある義務を履行するよう、強く働きかけるべきだ。

(From the Yomiuri Shimbun, June 20, 2013)
（2013年6月20日01時28分 読売新聞）

The Yomiuri Shimbun June 20, 2013
No end in sight for Syrian civil war, as arms support grows on both sides
Ｇ８とシリア　依然見つからない内戦の出口（6月19日付・読売社説）

How can the Syrian civil war be brought to an end? Leaders of the Group of Eight major powers should do their utmost to put an agreement on this issue reached in their latest meeting into practice.
　シリアの内戦をいかに終結させるか。各国首脳は、今回の合意実現へ、最大限努力すべきだ。

Regarding the Syrian situation, a focus of attention at the two-day G-8 summit meeting in Northern Ireland, Prime Minister Shinzo Abe and other leaders agreed to seek an international conference as early as possible to end the bloodshed in the Middle East country.
　英国・北アイルランドで開かれた主要８か国首脳会議（Ｇ８サミット）で、安倍首相ら参加国首脳は、焦点のシリア情勢について、流血の惨事を終わらせるため国際会議の早期開催を目指すことで合意した。

The agreement came after U.S. President Barack Obama and Russian President Vladimir Putin agreed in a separate meeting to hold such a conference.
　オバマ米大統領とプーチン露大統領が個別に会談し、一致したことを踏まえたものだ。

Although Obama and Putin reiterated their shared recognition that an international conference is important for dealing with the Syria situation, their views on the matter still differ widely.
　国際会議が重要だという認識を改めて共有したとは言え、米露首脳の見解の差は依然、大きい。

A quagmire of violence

During the summit meeting, Obama and Putin were unable to resolve their differences. While Obama considers the creation of a transitional government in Syria without Syrian President Bashar Assad as a goal of the envisaged international conference, Putin opposes any move to remove Assad from power.
　米露首脳会談では、「アサド大統領抜き」の「シリア移行政府」作りを会議の目的とするオバマ氏と、アサド氏排除に反対するプーチン氏の対立は解けなかった。

The Syrian civil war has turned into a quagmire, with the violence becoming increasingly severe. The death toll has topped 90,000 in the about two years since demonstrations calling for Assad's resignation started. The situation is serious.
　内戦は泥沼化し、厳しさを増している。アサド退陣を求めるデモの発生から２年余りで死者数は９万人を超した。深刻な事態だ。

The international community is divided into pro-Assad and anti-Assad groups.
　国際社会はアサド政権の擁護派と反対派に割れている。

The European Union, which has criticized the suppression of human rights by the Assad administration, lifted a ban on arms exports to Syria, paving the way for supplying weapons to Syrian rebels.
　アサド政権の人権弾圧を批判する欧州連合（ＥＵ）は、シリアへの武器禁輸を解除し、反体制派への武器供与に道を開いた。

The United States, meanwhile, has decided to provide military assistance to the Syrian rebels, after saying it had evidence that the Assad administration had used chemical weapons. It is widely believed that Washington will soon provide Syrian rebels with ammunition and other military supplies.
　米国も、「アサド政権が化学兵器を使用したことを確認した」として、反体制派への軍事支援を決めた。近く弾薬などの供与に踏み切るのでは、と見られる。

In contrast, Russia, which backs the Syrian government, argued that the United States’ assertion is groundless and plans to support the Assad administration by offering surface-to-air missiles.
　これに対して、シリア政府の後ろ盾となってきたロシアは、米側の主張には根拠がないと反発し、地対空ミサイルの供与でアサド政権を支える方針だ。

Lebanon’s Hizbollah militia, which is supported by Iran, has recently joined the Syrian government forces. There is no sign of the war subsiding.
　政府軍には最近、レバノンに拠点を置きイランの支援を受ける武装組織ヒズボラも加勢した。戦火が収まる気配は見えない。

It is necessary to get facts about the alleged use of chemical weapons by the Assad government, which is one reason for the mutual distrust between Washington and Moscow.
　米露の相互不信の一因になっている化学兵器問題では、事実関係を検証する必要がある。

Peace talks needed

Unless peace talks get on track, the Syrian civil war may drag on and there also is concern that it could destabilize surrounding countries.
　和平協議が軌道に乗らねば、内戦は長期化して、周辺諸国まで不安定化する事態が懸念される。

Taking advantage of the ongoing civil war, Islamic militants linked to Al-Qaida, an international terrorist network, have expanded their influence. Is there not a risk that some of the large amount of arms to be distributed could land in the hands of terrorist groups?
　国際テロ組織アル・カーイダとつながるイスラム過激派も、内戦に乗じて勢力を拡大している。大量に出回る武器が、テロ組織に拡散する恐れはないのか。

Meanwhile, the number of Syrian refugees who fled to Jordan and other neighboring countries has exceeded 1.5 million. Taking in these refugees is a heavy burden for those countries.
　一方、ヨルダンなど周辺諸国に逃れた難民は、１５０万人を超えた。受け入れ国の負担は重い。

During the G-8 summit meeting, Abe announced the government will offer $10 million in emergency grant aid to assist evacuees in Syria and refugees, as well as provide yen loans worth $120 million to Jordan.
　安倍首相はＧ８サミットで、国内避難民や難民を支援する１０００万ドルの緊急無償資金協力や、ヨルダンに対する１億２０００万ドル相当の円借款供与を表明した。

It is necessary to seek a political solution for ending the Syrian civil war, and G-8 countries must provide as much humanitarian assistance as possible.
　政治的な解決を図るとともに、各国が可能な限りの人道支援を進めることも必要だ。

(From The Yomiuri Shimbun, June 19, 2013)
（2013年6月19日02時11分 読売新聞）

The Yomiuri Shimbun June 19, 2013
Will Iran’s hard-line stance change under new president?
イラン大統領選　対外強硬路線は修正されるか（6月18日付・読売社説）

How can Iran’s newly elected president live up to the people’s will expressed in the presidential election? We hope the new leader will first tackle the task of mending relations with foreign countries.
　選挙に表れた民意にどう応えるのか。政権交代を機に、まずは対外関係の修復を期待したい。

Hasan Rowhani, a conservative and moderate candidate, emerged victorious in the election held Saturday at a time when Iran has become increasingly isolated internationally due to its nuclear development. Rowhani, a cleric, won overwhelmingly after calling for improved relations with the United States and Europe.
　核開発で国際的孤立を深めているイランで大統領選挙が行われ、米欧との関係改善を掲げた保守穏健派のロハニ師が当選した。

Rowhani garnered more than half of the votes cast to score a stunning victory over a conservative hard-liner who had been billed as the leading candidate.
　５０％を超える得票率で、有力と目された保守強硬派の候補に大差をつけての勝利である。

In acknowledging his win, Rowhani said it was “a victory of wisdom over radicalism.” He appears to be willing to follow a line that maintains a distance from that of the current administration.
　ロハニ師は「過激主義に対する知恵の勝利だ」と宣言した。現政権とは一線を画す立場だ。

It will be desirable for the international community if Rowhani shifts from the hard-line diplomatic policy pursued by outgoing President Mahmoud Ahmadinejad, who caused alarm by making provocative statements such as calling for Israel “to be wiped off the map.”
　イスラエルを「地図から消し去るべきだ」など挑発的言動が目立ったアフマディネジャド大統領の強硬な外交路線を転換するなら、国際社会にとっても望ましい。

Behind Rowhani’s resounding victory is a sense of stagnation that is enveloping Iranian society.
　ロハニ師大勝の背景には、イラン社会に広がる閉塞感がある。

During Ahmadinejad’s two terms over eight years, tight controls were placed on reformist politicians and freedom of speech. The United States and Europe have imposed economic sanctions in response to Iran’s continued nuclear development. This led to decreased crude oil exports and skyrocketing domestic prices of goods, which has stung people’s livelihoods.
　現大統領の２期８年の在任中、改革派の政治家や言論は封じ込められた。核開発継続を理由に米欧から科せられた制裁で、原油輸出が落ち込み、物価も高騰して、国民生活は困窮している。

A mandate to end impasse

Iranian voters, it may be said, have given Rowhani a mandate to break the stalemate.
　有権者は、事態打開をロハニ師に託したと言える。

A focal point is how he will deal with the nuclear issue.
　焦点は、核問題での対応だ。

Iran has been pressing ahead with uranium enrichment in defiance of U.N. Security Council resolutions. Tehran has enriched some uranium to 20 percent, far exceeding the 3.5 percent of nuclear fuel used at nuclear power plants. This unavoidably has stirred suspicions that Iran aims to develop nuclear weapons.
　イランは、国連安全保障理事会の決議を無視してウラン濃縮活動を続けている。濃縮度も原子力発電所の核燃料に使われる３・５％を上回る２０％にまで高めた。核兵器開発を狙っているのでは、と疑われても仕方あるまい。

The five permanent members of the U.N. Security Council and Germany have placed highest priority of having Iran stop production of uranium enriched to 20 percent.
　安保理常任理事国とドイツの６か国は、濃縮度２０％ウランの生産停止を最優先で求めている。

It is natural that the United States and European countries have urged Iran anew after the election to quickly resolve the nuclear issue diplomatically.
　選挙後、米欧諸国が核問題の迅速な外交的解決を改めてイランに呼びかけたのは、当然だ。

During the Iranian administration led by reformist President Mohammad Khatami from 1997 to 2005, Rowhani showed flexibility as he conducted nuclear negotiations with Britain, France and Germany. Nevertheless, little optimism can be warranted at this time.
　ロハニ師は、改革派のハタミ前政権下で英仏独との核交渉の責任者を務め、柔軟姿勢を示した経歴があるが、楽観はできない。

Khamenei holds real power

In Iran, supreme leader Ayatollah Ali Khamenei holds the reins of power, including diplomatic decisions. Under the union of religion and politics in Iran, there can be no change in nuclear policy unless it is approved by Khamenei. Can such a key person change Iran’s policy stance?
　イランでは、外交決定権を含め実権は最高指導者ハメネイ師にある。政教一致体制の下、ハメネイ師の同意抜きに核政策の変更はあり得ない。カギを握るハメネイ師が政策転換できるのかどうか。

Israel has not ruled out the option of a military strike to prevent Iran from possessing nuclear weapons. Military tension in the region will heighten if Iran continues its nuclear development.
　イスラエルは、イランの核兵器保有を阻止するために、攻撃も辞さない構えだ。イランの核開発が続けば、軍事的緊張は高まる。

Chief Cabinet Secretary Yoshihide Suga expressed hope that Iran’s change of president will bring about concrete progress toward resolving the nuclear issue. Japan will lean on the new adminisration to achieve that goal by utilizing their “traditional relationship of friendship” as leverage.
　菅官房長官は、イランの大統領交代が、核問題の解決に向けて「具体的な進展」をもたらすことに期待感を表明した。日本としても、「伝統的な友好関係」をテコに働きかける考えだ。

Japan relies on the Middle East for most of its crude oil imports, so ensuring stability in the region is a matter of life and death. The Iranian situation demands constant vigilance.
　原油の輸入を中東地域に依存する日本にとって、地域の安定は死活的に重要だ。イラン情勢から目を離すわけにはいかない。

(From The Yomiuri Shimbun, June 18, 2013)
（2013年6月18日01時33分 読売新聞）

The Yomiuri Shimbun June 18, 2013
Safeguarding intellectual property rights key to competing globally
知財ビジョン　国際競争に勝つための体制に（6月17日付・読売社説）

Intellectual property rights such as patents and trademarks relevant to cutting-edge technologies are undoubtedly the source of the international competitiveness of the nation’s industries.
　最先端技術の特許や商標などの知的財産権は、日本の産業競争力の源泉だ。

The need has been increasing for further strengthening joint private-public arrangements to effectively utilize the nation’s intellectual properties.
知財を有効活用する官民の体制を一層強化する必要がある。

The government has drawn up a “vision of intellectual property policy” with a view to laying out Japan’s approach toward handling intellectual property rights for the next 10 years, while deciding on a set of “basic principles” on the matter.
　政府は、今後１０年間を見据えた「知的財産政策ビジョン」と、その「基本方針」を決めた。

It’s been 11 years since the country laid down an outline of intellectual property strategy.
　２００２年に日本が知的財産戦略大綱を策定してから、１１年が過ぎた。

In recent years, manufacturing businesses in such countries as South Korea and China have grown stronger, intensifying global competition among companies, including those in the United States and Europe, which place high importance on the protection of intellectual property rights.
最近では、韓国や中国などの製造業が台頭し、知財を重視する欧米企業を含めて、グローバル競争が激化している。

In-house inventions a focus

It is reasonable that the government, having a heightened sense of crisis over the circumstances, has embarked on overhauling the nation’s intellectual property policy in a way well-suited to the times. The envisioned policy shift can be expected to provide impetus to the growth strategy being undertaken by the administration of Prime Minister Shinzo Abe.
　政府が危機感を高め、時代の変化に合わせて知財政策を練り直したのは適切だ。成長戦略に弾みをつける効果も期待できよう。

Worthy of note in the envisioned policy is a new idea concerning “in-house inventions,” or inventions created by employees while performing research and development activities for their firms.
　今回、注目されるのは、企業の研究者らが仕事上で発明した「職務発明」の特許権に関する新たな方針である。

In the basic principles, the government has proposed two options for discussion: reviewing the current patent system, which stipulates patent ownership belongs to employees, so as to have the ownership belong to companies; or requiring patent ownership to be covered in a contract between the employee and the employer.
　従業員に権利が帰属すると規定した現在の制度を見直し、会社に帰属させるか、あるいは、帰属先を企業と従業員の間の契約で決めるという２案を示した。

There have been many instances in which employees dissatisfied with the compensation paid by their companies in return for their in-house inventions have sued the companies, causing the firms to be ordered to pay huge sums of settlement money. The government-proposed changes of patent ownership is in response to demands from businesses to rectify the situation.
　職務発明の対価に不満を持つ従業員に訴えられ、企業が巨額の和解金を支払う例が多い。是正を求める産業界に配慮したものだ。

If the changes take effect, businesses will find the risks of being subject to patent ownership-related lawsuits mitigated, making it easier for them to craft management strategies by flexibly utilizing patents.
　企業にとっては、訴訟リスクが軽減され、特許権を活用した経営戦略を描きやすくなる。

On the other hand, there are concerns the policy shift would affect adversely the willingness of researchers to engage in R&D and end up in a brain drain overseas.
一方で、研究者の開発意欲を殺(そ)ぐことや、人材の海外流出も懸念される。

The government is set to clarify the pros and cons of the two envisaged steps. Further studies and in-depth discussions should be carried out from the standpoint of beefing up Japan’s industrial competitiveness.
　政府は今後、２案を絞り込む。産業競争力を強化する観点から、さらに検討してもらいたい。

The proposals are worthy of high marks because they seek the enhancement of support for small and midsize businesses, which are delaying charting out intellectual property strategies on their own. These proposals should make it easier for them to develop human resources relevant to patent matters with the support of experts, such as chartered patent agents.
　知財戦略作りが遅れている中小企業向けに、弁理士など専門家による人材育成といった支援策の充実を求めた点も評価できる。

The basic principles have also incorporated steps for sending from Japan patent examiners to emerging economies in such areas as Asia to help them build infrastructure with an eye toward protecting intellectual property rights.
　基本方針は、日本から特許審査官をアジアなど新興国に派遣し、知財保護の基盤作りを支援することも盛り込んだ。

While an increasing number of Japanese companies are branching out abroad, intellectual property right protection is insufficient in emerging countries, which is a major impediment to Japanese firms’ efforts to expand there. Having a “Japan model” spread overseas in this respect will greatly benefit Japanese businesses.
　日本企業の海外展開が目立つが、新興国では知財保護が不十分で、日本企業の事業拡大の足かせになっている。日本モデルを浸透させるメリットは大きい。

Increase patent examiners

A key issue is how to prevent important technological information from illegally flowing out to emerging countries and others.
　課題は、日本の重要な技術情報が新興国などに不正流出することをどう防ぐかだ。

The basic principles have rightly pointed out the need for strengthening the nation’s intellectual property right protection arrangements. Information leakage abroad is a serious problem that could shake the very foundation of Japan’s industries.
基本方針は保護策の強化を指摘した。情報漏えいは日本の産業基盤を揺るがしかねない深刻な問題である。

Steps should be taken to prevent retirees and others from taking technological information out of the country. Such measures as encouraging companies and their employees to conclude an agreement on maintaining confidentiality of corporate secrets should be promptly put into force.
　退職者などが日本の技術情報を持ち出さないよう手立てを講じたい。企業が従業員と秘密保持契約を結ぶことを促す指針を策定するなどの対策を急ぐべきだ。

Compared to the United States and European countries, Japan has few government officials in charge of screening patent applications and related matters. It is critical to increase the number of patent examiners to ensure prompt acquisition of patent ownership and its effective use.
　欧米に比べて、特許などを審査する特許庁の要員は少ない。特許を速やかに権利化し、活用するには審査官増員も欠かせない。

(From The Yomiuri Shimbun, June 17, 2013)
（2013年6月17日01時21分 読売新聞）

The Yomiuri Shimbun June 17, 2013
Kawasaki Heavy power struggle keeping market on tenterhooks
川重社長解任　合併で混乱招いた社内抗争劇（6月16日付・読売社説）

It is unusual in Japan to see the head of a major company suddenly dismissed. The market is now watching with a sharp eye the confusion caused by a power struggle within a major company.
　企業トップが突然、解任される異例の展開である。社内抗争による混乱に市場の目は厳しい。

Kawasaki Heavy Industries Ltd. dismissed President Satoshi Hasegawa and two other directors during an ad hoc board meeting on Thursday. The three had been pushing merger talks with Mitsui Engineering & Shipbuilding Co. The company also said it decided to scrap the integration talks.
　川崎重工業が１３日の臨時取締役会で、三井造船との合併交渉を推進していた長谷川聡社長ら３人の取締役を解任した。交渉の打ち切りも決めた。

Shigeru Murayama, who was promoted to president from senior vice president, said “a strong sense of distrust had developed” regarding their assertive way of pursuing the merger talks because the three had acted as if “the integration was a foregone conclusion.” It was an agonizing decision to dismiss them, he added.
　常務から昇格した村山滋新社長は記者会見で、「合併ありきの姿勢に強い不信感を覚えた。苦渋の決断だ」と述べた。

What happened is in effect a palace coup staged jointly by Murayama and others to stop the merger plan with Mitsui Engineering.
　合併構想を阻止するために、村山氏らが結束した事実上の社内クーデターと言えよう。

In the shipbuilding and heavy machinery industry, Kawasaki Heavy is the nation's second largest company and Mitsui Engineering is the fifth. News reports revealed their integration talks at the end of April. If realized, the integration would have created a giant company with combined consolidated sales approaching 2 trillion yen.
　造船・重機業界２位の川崎重工と５位の三井造船の合併交渉は、４月末の報道で明るみに出た。実現すれば、連結売上高２兆円弱の大型再編になるはずだった。

Japanese shipbuilding companies once dominated the global market. Today, however, Chinese and South Korean rivals have overtaken Japanese companies.
　日本の造船業界はかつて世界を席巻したが、今では、中国や韓国メーカーに追い抜かれている。

It happened mainly because Japanese firms have suffered from a becalmed global shipbuilding market after the so-called Lehman shock and the negative effects of the super strong yen. They are also at a disadvantage to other Asian rivals in cost competitiveness.
　リーマン・ショック後の世界的な造船市況の低迷と、超円高の打撃を受けたうえ、コスト競争力で劣っているのが主因だ。

Surviving fierce contest

Mizuho Corporate Bank, the main bank financing Kawasaki Heavy and Mitsui Engineering, acted as a middleman in their merger planning. The plan can be seen as one tactic aimed at survival in a fierce global contest.
　川崎重工と三井造船の合併構想は、主力取引銀行のみずほコーポレート銀行が仲介役となった。激しい国際競争を生き残るための一つの選択肢だったのだろう。

In January, shipbuilding companies related to JFE Holdings, Inc. and IHI Corp. were integrated. Moves by Mitsubishi Heavy Industries, Ltd. and Imabari Shipbuilding Co., Ltd. to enhance their partnership apparently pushed Kawasaki Heavy and Mitsui Engineering toward the possible merger.
　１月にはＪＦＥ系とＩＨＩ系の造船子会社が統合した。提携関係を深めている三菱重工業と今治造船の動きも、川崎重工と三井造船の背中を押したとみられる。

Within Kawasaki Heavy, however, opinions about the integration were greatly divided. Supporters and opponents to the merger plan apparently had different views on the actual businesses of the company.
　しかし、川崎重工社内は合併の賛否で割れていた。経営実態への感度の差もあったのでないか。

Shipbuilding accounts for only 10 percent of Kawasaki Heavy’s sales. Manufacturing of trains, aerospace equipment and motorcycles is considered the company's major business.
　売上高のうち、造船部門はわずか１割に過ぎない。むしろ主力事業は、鉄道車両、航空宇宙、オートバイなどである。

Many strongly opposed the merger plan, arguing that it was expected to create synergies for the shipbuilding section but would not benefit the other unrelated sections much.
　三井造船との合併で造船部門では相乗効果が期待できても、非造船部門はメリットが薄いとして、合併反対論も強かった。

Industrial reorganization

Against this background, we urge Kawasaki Heavy to reflect on its past conduct of not disclosing important management information to the market at appropriate times. The company initially denied the preliminary merger talks but suddenly admitted them on Thursday.
　川崎重工が重要な経営情報を市場に適時開示していなかった点には反省を促したい。当初、合併交渉を否定しておきながら、１３日に一転して認めたからだ。

Attention will now focus on what management strategies the two companies will develop in the wake of the merger talks being scrapped.
　今後の焦点は、合併交渉の白紙を受け、両社がそれぞれ、どんな経営戦略を打ち出すかだ。

The new Kawasaki Heavy president said the company will continue to study the possibilities of integration, merger and acquisition, and partnership, but the specific proposals Murayama will make remain to be seen. It is also important for the company to readjust its relations with the main financing banks.
　「合併・買収（Ｍ＆Ａ）や連携は引き続き検討する」と述べた村山新社長の具体策が問われる。取引銀行との再調整も課題だ。

Meanwhile, Mitsui Engineering, whose business performance is sluggish, has a rocky road ahead.
　一方、業績が低迷している三井造船の前途は多難である。

The government revealed its policy to support industrial reorganization as a measure to enhance competitiveness of Japanese companies. However, the failed merger negotiations between Kawasaki Heavy and Mitsui Engineering proves that industrial organization is never an easy job.
　政府は、競争力強化策として産業再編を支援する方針を示した。だが、川崎重工と三井造船の交渉破談は、再編が決して容易ではないことを浮き彫りにしている。

(From The Yomiuri Shimbun, June 16, 2013)
（2013年6月16日付 読売新聞）

The Yomiuri Shimbun June 15, 2013
Tokyo assembly poll foreshadows result of upper house elections
東京都議選告示　参院選を占う先行指標となる（6月14日付・読売社説）

The results of the June 23 Tokyo Metropolitan Assembly election, with about 10 million voters, will be a harbinger of results in the House of Councillors election scheduled for next month.
　有権者約１０００万人の首都決戦は来月の参院選の先行指標となる。

A major issue in the metropolitan assembly election will be what judgment parties make on Abenomics, the economic policy of Prime Minister Shinzo Abe’s government.
　安倍政権の経済政策である「アベノミクス」をどう評価するかが大きな争点となろう。

The official campaign period for the election starts Friday. However, the de facto election campaign is already overheating, with presidents and senior officials of political parties running to and fro in Tokyo.
　東京都議選が、きょう告示される。各党の党首、幹部クラスがすでに都内を走り回るなど、事実上の選挙戦が過熱している。

The metropolitan assembly election attracts a lot of attention because in the past it has often foreshadowed the results of national elections held soon afterward.
　都議選が注目されるのは、直後の国政選と連動することが多いからだ。

Will history repeat?

In the previous metropolitan assembly election of 2009, for instance, the Liberal Democratic Party suffered a crushing defeat while the Democratic Party of Japan made a remarkable breakthrough to become the assembly’s largest group. It was as if the poll projected the results of the House of Representatives election the following month, which brought about a change of government.
前回２００９年は、自民党が大敗し、民主党が躍進を遂げて都議会最大会派となった。翌月の衆院選での政権交代を告げるような結果だった。

In the upcoming metropolitan assembly election, the LDP is trying to become the largest party in the assembly again and to secure a stable majority with its partner New Komeito.
　今回、自民党は都議会第１党の座を奪還し、公明党とともに、安定した与党勢力の確保を目指している。

Their success or failure will likely predict whether the two parties will win a majority of seats in the upper house election, thus ending the divided Diet in which opposition parties control the upper house.
参院選で過半数の議席を自公で獲得し、衆参「ねじれ国会」を解消できるかどうかを占うことにつながろう。

“[Abenomics] has drastically changed the dark, thick cloud and [negative] atmosphere that had covered Japan,” Abe said during a street speech in Tokyo. “If we keep this course, the economy will grow without doubt.”
　安倍首相は都内の遊説で、アベノミクスについて、「日本を覆っていた暗く厚い雲、空気が大きく変わった。この道を進めば、間違いなく経済成長させていくことができる」と訴えた。

The so-called third arrow of his economic policy, following bold monetary easing and flexible fiscal policy, is growth strategy. Since its outline has only just been announced, it should be allowed time to bear fruit.
　ただ、大胆な金融緩和、機動的な財政政策に続く「第３の矢」の成長戦略は発表した直後で、成果が出るのはこれからだ。

However, what kind of road map to economic recovery is the LDP going to draw? The party needs to provide more detailed explanations.
自民党は、経済再生への道筋をどう描くのか、丁寧な説明が必要だ。

Meanwhile, DPJ President Banri Kaieda stressed risks of Abenomics during his street speech. Abenomics “will raise prices, increase people’s burdens and destroy their livelihoods,” he said.
　民主党の海江田代表は街頭演説で、アベノミクスについて、「物価が上昇し、国民の負担が増え、生活を破壊する」と、そのリスクを強調した。

However, if he only stresses the disadvantages of Abenomics, it will not constitute convincing criticism. We hope Kaieda will engage in a substantial debate with the LDP by presenting a specific counterproposal to Abenomics.
　だが、マイナス面を強調するだけでは説得力のある批判とはいえまい。具体的な対案を示して深みのある論戦を展開してほしい。

Nippon Ishin no Kai (Japan Restoration Party) is losing steam due to remarks by its coleader Toru Hashimoto on so-called comfort women. Your Party, which had been building a coalition with Ishin no Kai, decided to cancel their cooperation in the metropolitan assembly election after Hashimoto made the remarks. The same situation is seen in the upper house election. Attention should be focused on what judgment voters will make on the so-called third force political parties.
　日本維新の会は、橋下共同代表によるいわゆる従軍慰安婦問題の発言を巡り、失速気味だ。共闘体制を構築してきたみんなの党は、選挙協力を解消した。参院選も同じ構図だ。「第３極」に対する有権者の判断が注目される。

In the metropolitan assembly, the LDP and Komeito are ruling parties supporting Tokyo Gov. Naoki Inose’s government. The DPJ, the largest group in the assembly, is also strengthening its position as a quasi-ruling party.
　都議会で、自公両党は猪瀬直樹知事の都政を支える与党だ。最大会派の民主党も与党的な立場を強めている。

There thus appears to be no major issue of local Tokyo politics on which the election is likely to turn. How will voters without any party affiliation, who abound in urban areas, respond to the situation? Low voter turnout is one troubling possibility.
それだけに、都政に関しては大きな争点がない。都市部に多い無党派層がどう動くか。投票率の低下も懸念される。

Tokyo facing challenges

In fact, however, the metropolitan government faces more than a few challenges. One of them is to make Tokyo more resistant to natural disasters as soon as possible. For instance, the metropolitan government must make a plan to deal with the huge number of people who would be unable to go home due to paralysis of public transportation after a major earthquake. It also must take fire prevention measures in residential areas crowded with wooden buildings.
Another urgent task for the metropolitan government is to reduce the number of children waiting to enter public day care centers and develop facilities for the elderly.
　しかし、都の抱える課題は少なくない。帰宅困難者対策や木造住宅密集地の解消などの防災面をはじめ、待機児童対策、高齢者施設の整備などは急務だ。

The metropolitan assembly election should be considered as an opportunity to think not only about Tokyo’s relationship with national politics but also about those specific challenges the nation’s capital is facing.
　都議選を、国政の関連だけではなく、そうした首都の現状を考える機会ともすべきである。

(From The Yomiuri Shimbun, June 14, 2013)
（2013年6月14日01時35分 読売新聞）

The Yomiuri Shimbun June 15, 2013
Govt, BOJ must stay calm in face of fast-changing market trends
株価急落　相場の変動に振り回されるな（6月14日付・読売社説）

Reflecting the turbulent moves of speculative money on world markets, erratic fluctuations in this country of both stock prices and exchange rates have continued.
　世界的な投資マネーの激しい動きを受け、株価と円相場の乱高下が止まらない。

Confronted with this situation, the government and the Bank of Japan must remain calm and steadily push ahead with down-to-earth economic policies.
　政府と日銀は浮足立たず、地に足の着いた経済政策を推進すべきである。

The 225-issue Nikkei index on the Tokyo Stock Exchange fell sharply Thursday, ending the day at 12,445, down 843 points from Wednesday’s close. The yen’s appreciation, on the other hand, advanced, briefly hitting the 93 yen level against the dollar.
　東京市場は１３日、平均株価が前日比８４３円安の１万２４４５円に急落した。円相場も一時、１ドル＝９３円台まで円高が進んだ。

The Nikkei average, however, is still more than 2,000 points higher than it was when Prime Minister Shinzo Abe launched his second administration in late December.
　とはいえ、平均株価は第２次安倍内閣が発足した昨年１２月下旬より２０００円以上も高い。

3rd arrow fired

The recent strengthening of the yen is not so painful as to deal a heavy blow to export-oriented industries. It should be noted that a stronger yen has the favorable effect of stemming rises in import prices.
　円高は輸出企業に打撃を与える水準ではなく、輸入物価の高騰を抑えるプラス面もある。

The government has mapped out the nation’s growth strategy, meaning that all three arrows of the Abe Cabinet’s Abenomics business stimulus package have been fired.
　政府が成長戦略を策定し、安倍政権の経済政策「アベノミクス」は３本の矢がそろったばかりだ。

Overreacting to market trends could cause declines in confidence in the government and the central bank, and threaten market turmoil.
ここで市場の動きに過剰反応すれば、政府と日銀の政策に対する信認が揺らぎ、かえって混乱に拍車をかけかねない。

Abe and Bank of Japan Gov. Haruhiko Kuroda met Thursday to discuss the economic situation prior to the Group of Eight summit scheduled to open in Britain on Monday.
　この日は、安倍首相と黒田東彦日銀総裁が会談し、１７日から英国で開かれる主要８か国首脳会議（Ｇ８サミット）を前に、経済情勢について意見交換した。

Kuroda was quoted as explaining to the prime minister that the current pace of Japan’s economic recovery “has gradually becoming more buoyant than before.” In response, Abe was quoted as saying the government would take its “share of responsibility by steadfastly implementing growth strategies and relevant policy measures.”
　黒田総裁が「日本経済は、回復の足取りが次第に力強くなっている」と説明したのに対し、首相は「成長戦略など政府の役割をしっかり果たす」と決意を示した。

Their views can be said to represent a correct assessment of the current state of the economy.
妥当な現状認識と言える。

The stock market plunge was attributed to the perception by the market that U.S. Federal Reserve Board Chairman Ben Bernanke may have hinted the Fed would wind down its ultra-easy monetary policy sooner than expected.
　そもそも最近の株安は、米連邦準備制度理事会（ＦＲＢ）のバーナンキ議長の発言が、超金融緩和策の縮小を示唆したと受け止められたことがきっかけだ。

This led market players to move funds away from risky assets such as stocks.
　世界の投資資金が株式などのリスク資産から流出し始めた。

Foreign investors who purchased Japanese stocks in large quantities have started to sell their shareholdings. In addition, speculative moves intended to drive down stock prices and high-speed, automated transactions are two other factors considered responsible for the market plunge.
日本株を大量に買った海外投資家が売りに転じ、売り崩しを狙う投機筋の動きや、コンピューターで瞬時に売買が成立する高速取引の普及などの要因も重なった。

Trying to control the global flow of money simply through Japan’s domestic policy measures is extremely difficult.
　世界的な資金の流れを、日本国内の政策でコントロールしようとしても難しい。

It is incorrect to call the decline in stock prices the result of “insufficiencies in growth strategies” needed to revitalize the economy.
　株安の原因を「成長戦略が踏み込み不足だから」などと決めつけるのは的外れだろう。

However, the government should be partly blamed for misleading the public. When stock prices were on the rise until late May, the prime minister and ministers in charge of economic affairs repeatedly stressed that this was due to the “fruit of Abenomics.” They must engage in serious soul-searching over the new development, as the declines in stock prices could be deemed as representing a failure of the government’s economic policies.
　ただ、誤解を生んだ責任は政権側にもある。５月までの株高を、首相や経済閣僚が「アベノミクスの成果」と強調する場面が目立った。その裏返しに、株安の原因が政策の失敗と見なされやすくなることを、肝に銘じるべきだ。

Vigilance rather than action

Earlier this week, rumors spread that the Bank of Japan might hammer out measures to stabilize long-term interest rates. As soon as it was learned that the central bank has no such intention, the yen began to appreciate and stock prices dived.
　今週は日銀が長期金利の安定化策を打ち出すとの観測が強まり、その実施が見送られるや、円高・株安に振れた。

The stock and financial markets appear to be “wooing” the central bank to come up with additional financial measures to stabilize the markets.
追加策を“催促”するような相場展開である。

It is inadvisable for the bank to adopt any measures that kowtow to market pressures.
　催促されるまま追加策を講じるのは得策ではない。

However, vigilance over market trends must be the order of the day.
今は市場動向を油断なく注視すべき局面だ。

(From The Yomiuri Shimbun, June 14, 2013)
（2013年6月14日01時35分 読売新聞）