[TODAY'S TOP STORIES] from [The Japan Times]
[NATIONAL NEWS]
Monday, Jan. 11, 2010
JAL faces showdown with retirees
ETIC threatens to dissolve pension fund
Kyodo News
Japan Airlines Corp. is having a hard time getting its retirees to approve drastic cuts in pension benefits as it heads toward court-backed rehabilitation, sources close to the matter said Sunday.
The ailing carrier needs two-thirds approval and the working deadline is Tuesday.
Separately, the state-backed body in charge of turning around struggling JAL is also expected to urge the company to decline investment offers from America's two biggest carriers amid concern a capital tieup could complicate its rehabilitation plan.
Delta Air Lines Inc., the world's biggest carrier and one with a strong presence on U.S.-Japan routes, is believed to be the front-runner for joining JAL, which belongs to the oneworld alliance led by American Airlines Inc.
If JAL were to receive an investment from either carrier, it would narrow the options for the state-backed Enterprise Turnaround Initiative Corp. when it decides to sell JAL's shares following rehabilitation, the sources said.
JAL needs to receive approval from two-thirds of the around 9,000 retirees to cut pension benefits, which have ballooned liabilities at Japan's flagship airline.
But the prospects for winning approval dimmed after anxiety spread that the retirees could face even bigger cuts if they consent to the deal. The government is expected to file for bankruptcy protection under under the Corporate Rehabilitation Law.
The government and JAL's key creditor banks view pension reform as a prerequisite for a bailout to prevent the large amounts of public funds expected to be injected into the airline for its turnaround from being used to finance pension payments.
ETIC plans to dissolve JAL's corporate pension fund if the airline fails to get consent for cutting pension benefits.
Company officials are making last-minute calls to persuade the retirees before the deadline, but they will continue efforts to secure approval until Jan. 22, the date by which the retirees can still change their minds.
But the sources warned that it would be difficult to significantly boost approval for the pension cuts during the extended period.
The retirees have been asked to agree to a cut of more than 30 percent, while current employees have been asked to accept a reduction of around 53 percent. JAL has already obtained approval from the employees but needs the two-thirds agreement from both groups to implement its proposals.
While ETIC plans to dissolve the pension fund if the proposals are voted down, the body has informed JAL that it would respect the current level of proposed pension cuts if approval can be attained, the sources said.
But skepticism is growing among retirees that the government and the body are inclined to pursue court-backed bankruptcy proceedings even if JAL succeeds in getting two-thirds approval.
[NATIONAL NEWS]
Monday, Jan. 11, 2010
City's birth challenge linked to sex change
KOBE (Kyodo) A Hyogo Prefecture man who has legally changed his sexual status said Sunday that the city where he lives told him to register his son, who was born through artificial insemination, as an illegitimate child.
Children born through artificial insemination by donors are ordinarily accepted as legitimate, experts say, because municipal offices do not necessarily know the details of a particular birth.
But in the man's case, the municipal office knew he had changed his sex in his family registration record, apparently leading it to reject the legitimacy of his son, they said.
"This man is lawfully married. It is discriminatory not to recognize him as the father," said Toshiyuki Oshima, a Kyushu International University professor and head of the Japanese Society of Gender Identity Disorder.
The man, whose name is being withheld, is a 27-year-old resident of Shiso, Hyogo Prefecture. He received approval for the sex change under a special law concerning people with sexual identity disorder and changed his family registration record to reflect it in March 2008. He married the following month.
On Nov. 4, 2009, his 28-year-old wife gave birth to the boy through artificial insemination using semen from the man's brother.
The man went to register the boy the following day but was unable to do so and later told by the municipal office to register him as adopted.
After getting legal advice, the man sent his son's birth report to the city office and is waiting for it to respond.
If his request is refused again, he will take the case to court, he said.
"I am recognized by the country as a man but not as a father. I wonder why the special law (for people with sexual identity disorder) exists."
[BUSINESS NEWS]
Monday, Jan. 11, 2010
Panasonic envisions high 3-D TV sales in U.S.
Bloomberg
Panasonic Corp. expects to sell as many as 1 million 3-D TVs in the next year in the United States, Europe and Japan.
BLOOMBERG
The company will begin shipping in March, Yoshi Yamada, Panasonic's North American chairman and chief executive officer, said Friday in an interview. Prices haven't been set. The U.S. will be the biggest market.
Adoption of three-dimensional TV, which requires viewers to wear special glasses, will be faster than the acceptance of high-definition TV because more films, programs and games will be available, Yamada said. Panasonic is actively seeking material from Hollywood and was a promotional partner in James Cameron's 3-D film "Avatar."
"We learned a lot of lessons," Yamada said at the Consumer Electronics Show in Las Vegas. Sony Corp. and Samsung Electronics Co. have also said that they plan to introduce 3-D sets.
Panasonic, which introduced four 3-D Viera plasma TVs ranging in size from 50 to 65 inches, announced a partnership with DirecTV Group Inc., the largest U.S. satellite TV service, to promote three 3-D channels that will begin operating in June.
Panasonic, which doesn't have an ownership stake in the channels, plans to promote the programming in retail and other advertising, Yamada said. Marketing will also target DirecTV's 18 million subscribers, which he said includes 10 million customers with set-top boxes than can receive 3-D shows.
Panasonic and other TV makers charged too much for early high-definition TVs, Yamada said. The company is working to avoid that pitfall this time, he said, without being more specific.
The TVs will come with one set of 3-D glasses, which Panasonic will also sell separately for those who want more, he said.
To stoke demand for the sets, Panasonic also announced at the show it will begin selling a 3-D high-definition camcorder and a Blu-ray player.
"What we have learned in selling high-definition sets is that the picture is what sells it," Yamada said. "When people see it in 3-D, they say 'wow.' "
[NATIONAL NEWS]
Monday, Jan. 11, 2010
Kan to test waters for consumption tax hike after fiscal review
Kyodo News
Deputy Prime Minister Naoto Kan, appointed last week to also serve as finance minister, indicated Sunday that he may put a consumption tax hike on the table in fiscal 2011.
"I would like to spend this year thoroughly reviewing fiscal conditions," Kan said while making the rounds on Sunday TV talk shows. "Based on the results of the review, I would like to discuss necessary steps, whether that means (raising) the consumption tax or (introducing) a green tax."
Kan said that while Prime Minister Yukio Hatoyama is holding to a policy of not raising the 5 percent consumption tax for the next four years, this doesn't prevent debate on the issue.
The government will need to discuss tax hikes when it becomes clear "there is no way of finding new fiscal resources," he said.
During his fiscal review, Kan intends to look into reserves held in various budget accounts dedicated to special purposes, he said.
"We weren't able to do enough in looking into special account reserves for the fiscal 2010 budget," Kan said, suggesting there is more to come when the government draws up the budget for fiscal 2011 or subsequent budgets.
The government was able to scoop up more than ¥10 trillion in extra funds from special accounts for the fiscal 2010 general account budget, but Kan admitted it will be "very difficult" to find such nontax revenues in the future.
[NATIONAL NEWS]
Monday, Jan. 11, 2010
JAL faces showdown with retirees
ETIC threatens to dissolve pension fund
Kyodo News
Japan Airlines Corp. is having a hard time getting its retirees to approve drastic cuts in pension benefits as it heads toward court-backed rehabilitation, sources close to the matter said Sunday.
The ailing carrier needs two-thirds approval and the working deadline is Tuesday.
Separately, the state-backed body in charge of turning around struggling JAL is also expected to urge the company to decline investment offers from America's two biggest carriers amid concern a capital tieup could complicate its rehabilitation plan.
Delta Air Lines Inc., the world's biggest carrier and one with a strong presence on U.S.-Japan routes, is believed to be the front-runner for joining JAL, which belongs to the oneworld alliance led by American Airlines Inc.
If JAL were to receive an investment from either carrier, it would narrow the options for the state-backed Enterprise Turnaround Initiative Corp. when it decides to sell JAL's shares following rehabilitation, the sources said.
JAL needs to receive approval from two-thirds of the around 9,000 retirees to cut pension benefits, which have ballooned liabilities at Japan's flagship airline.
But the prospects for winning approval dimmed after anxiety spread that the retirees could face even bigger cuts if they consent to the deal. The government is expected to file for bankruptcy protection under under the Corporate Rehabilitation Law.
The government and JAL's key creditor banks view pension reform as a prerequisite for a bailout to prevent the large amounts of public funds expected to be injected into the airline for its turnaround from being used to finance pension payments.
ETIC plans to dissolve JAL's corporate pension fund if the airline fails to get consent for cutting pension benefits.
Company officials are making last-minute calls to persuade the retirees before the deadline, but they will continue efforts to secure approval until Jan. 22, the date by which the retirees can still change their minds.
But the sources warned that it would be difficult to significantly boost approval for the pension cuts during the extended period.
The retirees have been asked to agree to a cut of more than 30 percent, while current employees have been asked to accept a reduction of around 53 percent. JAL has already obtained approval from the employees but needs the two-thirds agreement from both groups to implement its proposals.
While ETIC plans to dissolve the pension fund if the proposals are voted down, the body has informed JAL that it would respect the current level of proposed pension cuts if approval can be attained, the sources said.
But skepticism is growing among retirees that the government and the body are inclined to pursue court-backed bankruptcy proceedings even if JAL succeeds in getting two-thirds approval.
[NATIONAL NEWS]
Monday, Jan. 11, 2010
City's birth challenge linked to sex change
KOBE (Kyodo) A Hyogo Prefecture man who has legally changed his sexual status said Sunday that the city where he lives told him to register his son, who was born through artificial insemination, as an illegitimate child.
Children born through artificial insemination by donors are ordinarily accepted as legitimate, experts say, because municipal offices do not necessarily know the details of a particular birth.
But in the man's case, the municipal office knew he had changed his sex in his family registration record, apparently leading it to reject the legitimacy of his son, they said.
"This man is lawfully married. It is discriminatory not to recognize him as the father," said Toshiyuki Oshima, a Kyushu International University professor and head of the Japanese Society of Gender Identity Disorder.
The man, whose name is being withheld, is a 27-year-old resident of Shiso, Hyogo Prefecture. He received approval for the sex change under a special law concerning people with sexual identity disorder and changed his family registration record to reflect it in March 2008. He married the following month.
On Nov. 4, 2009, his 28-year-old wife gave birth to the boy through artificial insemination using semen from the man's brother.
The man went to register the boy the following day but was unable to do so and later told by the municipal office to register him as adopted.
After getting legal advice, the man sent his son's birth report to the city office and is waiting for it to respond.
If his request is refused again, he will take the case to court, he said.
"I am recognized by the country as a man but not as a father. I wonder why the special law (for people with sexual identity disorder) exists."
[BUSINESS NEWS]
Monday, Jan. 11, 2010
Panasonic envisions high 3-D TV sales in U.S.
Bloomberg
Panasonic Corp. expects to sell as many as 1 million 3-D TVs in the next year in the United States, Europe and Japan.
BLOOMBERG
The company will begin shipping in March, Yoshi Yamada, Panasonic's North American chairman and chief executive officer, said Friday in an interview. Prices haven't been set. The U.S. will be the biggest market.
Adoption of three-dimensional TV, which requires viewers to wear special glasses, will be faster than the acceptance of high-definition TV because more films, programs and games will be available, Yamada said. Panasonic is actively seeking material from Hollywood and was a promotional partner in James Cameron's 3-D film "Avatar."
"We learned a lot of lessons," Yamada said at the Consumer Electronics Show in Las Vegas. Sony Corp. and Samsung Electronics Co. have also said that they plan to introduce 3-D sets.
Panasonic, which introduced four 3-D Viera plasma TVs ranging in size from 50 to 65 inches, announced a partnership with DirecTV Group Inc., the largest U.S. satellite TV service, to promote three 3-D channels that will begin operating in June.
Panasonic, which doesn't have an ownership stake in the channels, plans to promote the programming in retail and other advertising, Yamada said. Marketing will also target DirecTV's 18 million subscribers, which he said includes 10 million customers with set-top boxes than can receive 3-D shows.
Panasonic and other TV makers charged too much for early high-definition TVs, Yamada said. The company is working to avoid that pitfall this time, he said, without being more specific.
The TVs will come with one set of 3-D glasses, which Panasonic will also sell separately for those who want more, he said.
To stoke demand for the sets, Panasonic also announced at the show it will begin selling a 3-D high-definition camcorder and a Blu-ray player.
"What we have learned in selling high-definition sets is that the picture is what sells it," Yamada said. "When people see it in 3-D, they say 'wow.' "
[NATIONAL NEWS]
Monday, Jan. 11, 2010
Kan to test waters for consumption tax hike after fiscal review
Kyodo News
Deputy Prime Minister Naoto Kan, appointed last week to also serve as finance minister, indicated Sunday that he may put a consumption tax hike on the table in fiscal 2011.
"I would like to spend this year thoroughly reviewing fiscal conditions," Kan said while making the rounds on Sunday TV talk shows. "Based on the results of the review, I would like to discuss necessary steps, whether that means (raising) the consumption tax or (introducing) a green tax."
Kan said that while Prime Minister Yukio Hatoyama is holding to a policy of not raising the 5 percent consumption tax for the next four years, this doesn't prevent debate on the issue.
The government will need to discuss tax hikes when it becomes clear "there is no way of finding new fiscal resources," he said.
During his fiscal review, Kan intends to look into reserves held in various budget accounts dedicated to special purposes, he said.
"We weren't able to do enough in looking into special account reserves for the fiscal 2010 budget," Kan said, suggesting there is more to come when the government draws up the budget for fiscal 2011 or subsequent budgets.
The government was able to scoop up more than ¥10 trillion in extra funds from special accounts for the fiscal 2010 general account budget, but Kan admitted it will be "very difficult" to find such nontax revenues in the future.
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