Chapter 190
Happy new year! Last year was a year in which deflationary Japan suffered from the depreciation of the yen, but there was a big surprise at the end of the year! There is a sense that the unilateral depreciation of the yen has changed direction due to the policy change of the Bank of Japan's unconventional monetary easing. However, as indicators of the Japanese economy, there is no change in the declining birthrate and aging population and the weakening trend of domestic industries, so the long-term depreciation trend of the yen will not change. Meanwhile, there was an event that I could expect a revival of the Japanese economy, so I will introduce it. The trigger was SEMICON JAPAN 2022 at the end of last year. As you know, it is a semiconductor-related event held at Tokyo Big Sight every year, and since I received an invitation ticket for the opening event, I went there to research technology trends. Speaking of semiconductors, starting with the attraction of TSMC in Taiwan to the development of a domestically produced 2-nano semiconductor called Rapidus, the government is renewing the way in which the government takes care of semiconductor manufacturers that have fallen into decline as before, and is active in a different direction. I have a vague impression that the government is starting to search for new ways to change things. This was also reflected in SEMICON JAPAN. At the opening, Prime Minister Fumio Kishida made an appearance, and at the opening event of Hotel Okura Tokyo, Minister of Economy, Trade and Industry Yasutoshi Nishimura delivered a passionate speech saying, "We will change Japan, which has been said to be unchangeable." In the past, an advertising agency Dentsu or Hakuhodo would have handled this event as spectacular, albeit thin, entertainment, but this time, it was really amateurish, and even an order of ceremony that was distributed was not printed but copied papers, and it was more than what it looked like. A full-course dinner, delicious wine, and a mini-concert by violinist Taro Hakase brought excitement to the event. In any case, I had a strong impression that it had changed. I have been involved in the LED industry for nearly 23 years since starting my business, and the only time I felt that the government was enthusiastic about supporting venture companies was during the three years from 2012 to 2015, when the Democratic Party of Japan took office. The foundation of our company's current technological capabilities has been established by a large amount of research and development fund at the time. On the other hand, under the Liberal Democratic Party's Abenomics, we were clearly out of the loop. Perhaps it should be said that the support was focused on Nobel Prize-winning researchers in physics. Thanks to that, Japan has maintained its superiority in GaN HEMTs and power semiconductors, so I won't say that. It was just a trivial event that I received an invitation ticket, but what has supported China's economic development over the past 20 years has been the reckless investment subsidies of the central and state governments. I believe that if even 10% of the 36.27 trillion yen Japan spends on social security spending goes to cutting-edge technology development ventures, the Japanese economy will revive. Japan is in the wrong place to blindly spend money. There are places where money flows as it is and goes somewhere, and places where it increases and returns. The financial policy change and semiconductor aid at the end of last year make me feel that Japan may be on the brink of change and is really about to change. It was the first happy event in a long time. This year, I would like to connect a bright atmosphere.
January 4, 2023
New Year's Thoughts
