Japan's Current Account Surplus Rises

 

By Steve Herman

Japan records an increase in its current account surplus, despite a drop for the country's trade surplus. A debt-ridden retail¹ chain accepts a government-backed rescue, and there are more troubles for the Seibu conglomerate².

Japan's current account surplus rose 2.3 percent in August from a year earlier. That is the 14th consecutive³ monthly increase in the account, which measures international payments for goods and services, and earnings⁴ on investments.

Japan's Finance Ministry⁵ says the gain is due to more money flowing into investments and a smaller services deficit⁶.

The latest statistics also show Japan's trade surplus fell more than 15 percent, the first drop in 14 months, largely because of a surge in import costs, especially rising oil prices. Japan's struggling Daiei supermarket chain has averted⁷ possible bankruptcy⁸ by accepting a government-backed bailout.

Trade Minister Shoichi Nakagawa welcomes Daiei's decision to accept help from the Industrial Revitalization Corporation.

Mr. Nakagawa says he respects the decision made by the company, which he sees as being in the public interest.

The Tokyo Stock Exchange says it is considering delisting Seibu Railway, part of the giant Seibu conglomerate. The group's core company, Kokudo, has admitted actually owning a large number of the rail company's shares held in the name of several individuals.

Officials of the Tokyo Exchange call the irregularities unprecedented⁹, and say they prevent investors¹⁰ from being able to assess a fair price for Seibu Railway's stock.

Kokudo chairman Yoshiaki Tsutsumi, one of Japan's wealthiest industrialists¹¹, says he takes responsibility.

Mr. Tsutsumi says he will quit all his positions in the conglomerate, including stepping down as owner of the Seibu Lions professional baseball team. He will also resign as the honorary president of the Japan Olympic Committee, but he remains¹² the largest shareholder¹³ of Kokudo.

Earlier this year, Mr. Tsutsumi resigned as chairman of Seibu Railway to take responsibility for a scandal involving alleged¹⁴ payoffs to racketeers.

A survey by the World Economic Forum¹⁵ shows Japan rejoining the top 10 of the world's most competitive countries for the first time since 1995.

Japan now ranks ninth, up from 11th last year. The Forum says Japan's corporate¹⁶ managers have recovered their confidence and that government efficiency has greatly improved.

Steve Herman, VOA news, Tokyo.
注释：
current account surplus 国际收支经常项目顺差
conglomerate 聚结
deficit 赤字
bailout 紧急融资
Industrial Revitalization Corporation 工业复兴公司
irregularity 不规则
unprecedented 空前的
racketeer 敲诈者

1 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

2 conglomerate   

n.综合商社，多元化集团公司

参考例句：

• The firm has been taken over by an American conglomerate.该公司已被美国一企业集团接管。
• An American conglomerate holds a major share in the company.一家美国的大联合企业持有该公司的大部分股份。

3 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

4 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

5 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

6 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

7 averted   

防止，避免( avert的过去式和过去分词 )； 转移

参考例句：

• A disaster was narrowly averted. 及时防止了一场灾难。
• Thanks to her skilful handling of the affair, the problem was averted. 多亏她对事情处理得巧妙，才避免了麻烦。

8 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

9 unprecedented   

adj.无前例的，新奇的

参考例句：

• The air crash caused an unprecedented number of deaths.这次空难的死亡人数是空前的。
• A flood of this sort is really unprecedented.这样大的洪水真是十年九不遇。

10 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

11 industrialists   

n.工业家，实业家( industrialist的名词复数 )

参考例句：

• This deal will offer major benefits to industrialists and investors. 这笔交易将会让实业家和投资者受益匪浅。 来自《简明英汉词典》
• The government has set up a committee of industrialists and academics to advise it. 政府已成立了一个实业家和学者的委员会来为其提供建议。 来自《简明英汉词典》

12 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

13 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

14 alleged   

a.被指控的，嫌疑的

参考例句：

• It was alleged that he had taken bribes while in office. 他被指称在任时收受贿赂。
• alleged irregularities in the election campaign 被指称竞选运动中的不正当行为

15 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

16 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。