The group that represents Tokyu announced that it was selected as the successful bidder on 11/8 in the comprehensive evaluation general competitive bidding related to the “Todoroki Ryokuchi Ryokuchi Reorganization Maintenance/Operation Project” publicly solicited by Kawasaki City in Kanagawa Prefecture.
It is said that the project aims to “realize the future image that a new Todoroki Ryokuchi should aim for” as shown in the “Todoroki Ryokuchi Reorganization and Maintenance Implementation Plan” formulated and revised by Kawasaki City.
Assuming that the group has been working towards a successful bid for the same business, centered on enterprises that operate businesses rooted in the community, companies that have a track record of operating public infrastructure, and companies that have design/construction records of large-scale sports facilities, it is planned to proceed with preparations for concluding a basic agreement with Kawasaki City in the future.
Specific business details, etc. will be announced as appropriate based on discussions with Kawasaki City.
■Business Overview
Business name:
Todoroki Ryokuchi Reorganization Maintenance/Operation Project
LOCATION:
1 Todoroki, Nakahara-ku, Kawasaki-shi, Kanagawa-ken, etc.
Site area:
43.5 ha
Business content:
Maintenance, operation, and management of public and private facilities
Business period:
30 years from 2023/4 (planned)
Main maintenance contents:
① Maintenance of public facilities
・Foundation work for parks and plantings
・And so on...

Nationwide corporate bankruptcies (debt amount of 10 million yen or more) in October announced by Tokyo Shoko Research on the 9th increased for 7 consecutive months to 596 cases, up 13.5% from the same month last year. The number of cases where business performance recovery from the novel coronavirus did not progress and went bankrupt has increased. High prices against the backdrop of Russia's invasion of Ukraine also drove it down.
　COVID-related bankruptcies increased 42.8% to 230 cases, breaking the monthly high for the second consecutive month. The total amount of debt was 86.995 billion yen, down 11.6%. Large-scale bankruptcies of 1 billion yen or more declined, and the amount of money was pushed down.
　By industry, the food and beverage manufacturing industry increased significantly, about 3.6 times to 25 cases, and the food and beverage retail business increased by about 2.4 times to 31 cases.
Author: Kyodo News
Last Updated: 11/9 (Wed) 15:59

At the press conference yesterday (this morning Japan time), Chairman Powell stated that “we will carry out monetary tightening at a faster pace and with even greater strength,” but unlike the bank governor's dishonest response yesterday and today, this is actually reliable.
Looking back on the past, countries around the world were hit by strong inflation around 1980, about 40 years ago, but there is a history where Fed Chairman Volcker at the time demonstrated his leadership as an inflation fighter and suppressed the frenzied prices in the Western world economy, but surprisingly, the FF effective interest rate around 1981/1 reached 19.1%.
I think it is appropriate to recognize that the world economy has reached an inflection point of fluctuation spanning a multi-decade cycle. The Japanese government is probably a “calculation system that jumps the financial resources required to respond to inflation (for the time being, a supplementary budget of tens of trillion yen ← this is absolutely not enough), although it is truly inappropriate, as before, to “jump out of sight as future Japanese debt.”
Since yen becomes junk, I think it would be better to consider corporate bonds, government bonds, MMF, etc. in addition to stocks for management methods as dollar-denominated assets other than those that are needed for the time being...

Survey on “total profit margin” of 106 domestic banks
　The “total profit margin (median)” of the financial results for the fiscal year ending 2022/3 of 106 domestic banks was 0.16%, the same level as the previous year.
　However, the “fund management yield (median)” was 0.86% (0.94% the previous year), and the decline was unstoppable, down 0.08 points from the previous year, and strict fund management continues.
　The “fund management yield (median)” for the fiscal year ending 2022/3 was 0.86%, falling below 1.00% for 2 consecutive years for the fiscal year ending March 31. In 105 banks, excluding 1 bank that cannot be compared with the same period last year due to mergers, only 12 lines (composition ratio 11.4%) exceeded the previous year's fund management yield. Meanwhile, “fund raising costs (median)” shrank to 0.68% (0.77% the previous year), and 104 banks excluding the Shiga Bank fell below the previous year.
　“Total profit margin” indicates the difference between fund management yield and procurement yield. The number of “reversals,” where “fund management yield” falls below fund raising costs, is 6 lines, a decrease of 2 lines from bank 8 the previous year. “Backwards” were 2 banks each: a major bank (2 banks the previous year), a regional bank (same 4 banks), and a second regional bank (same 2 banks). It is the second year in a row that “backwards” falls below 10 lines in the March fiscal year, 2...

　The dollar exchange rate (indicative value) of the dollar against yen in the Tokyo Foreign Exchange Market on the afternoon of the 31st weakened to the latter half of the 1 dollar = 147 yen range due to a pause in the rise in long-term US interest rates for overtime trading, leading to dollar sales. As of 3:00 p.m., the dollar is 147 yen 91 to 91 yen, 83 yen higher and yen depreciation compared to the previous weekend (5 p.m., 147 yen 08 to 08 sen).
　After Tokyo time began at 147 yen 80 yen, actual demand and purchases involving the end of the month swelled, and the upper price was rounded up to the 148 yen 30 yen mark for the median price. The rise in long-term US interest rates outside of hours also supported dollar purchases. However, after the first round of purchases, the upper price became heavy, and by noon it was around 148 yen, which strengthened the impression. Entering the afternoon, the fact that long-term US interest rates outside of hours reduced the increase led to dollar sales, and softened to around 147 yen 80 yen. At lower prices, it is said that “movements to pick up low prices are scattered against the backdrop of rising US interest rates” (FX brokers), and there were scenes where they were bought back up to around 148 yen, but the return was slow, and after that, it was a soft development, such as being pushed back to the 147 yen 70 yen range at one point.
　The market is also aware of reports by the US paper Wall Street Journal (WSJ) the day before. The same paper is a new type...

(Bloomberg): For investors in emerging markets, the outlook that the situation is about to deteriorate significantly before improving can be read from stock valuation signals.
The index of emerging market stocks, the actual price-earnings ratio (PER) based on corporate profits for the past 12 months of the MSCI Emerging Markets Index, fell below the predicted PER based on profit forecasts for the next 12 months. It can be seen how analysts anticipate that corporate profits will decline in the future at a faster pace than now.
Simon Kihano-Evans, chief economist at Gemcorp Capital Management, said, “This is probably an indication that we are about to reach a turning point. It reflects a situation where yields rise rapidly at a timing where recession (recession) anxiety makes investors increasingly concerned. In order for corporate profit prospects in emerging markets to turn upward again, it is necessary for the hawkish stance of the US Federal Reserve System to ease and the dollar exchange rate to calm down.”
Since an increase in corporate profit, which is the denominator of PER, is expected, in many cases, predicted PER falls below actual PER.
Regarding PER, a phenomenon like this one occurred because of the global financial crisis...