Geneva Newsletter

Issue 9 December 2009 Geneva Newsletter

Japan’s current economic situation According to the Novem- Index of industry production ditions. The number of ber 19 OECD Economic (value added) corporate bankruptcies Seasonally adjusted Special points of interest: Outlook on Japan, “the 2005 average=100 also fell 1% in November • Japan’s exports to Switzerland severe recession triggered Source: METI to 1,000 year-on-year. The soared 61.6 % in October year-on- by the global crisis has unemployment rate de- year. bottomed out, thanks in clined to 5.1% in October • JETRO Geneva organized two semi- part to a rebound in ex- from 5.3% in September nars to present Japanese foodstuffs. ports, although production and a post-war record high • The Japanese government unveiled a remains well below capac- of 5.7% in July. ¥ 7.2 trillion (CHF 82 billion) eco- ity”. However, some economic nomic stimulus plan. Major economic indicators and financial indicators • Black garlic helps to reduce risks of show a recovery of the show that the economic cardiovascular disease and cancer. economy. Total Japan’s recovering still is fragile. exports increased 3.9% Private-sector machinery from September to Octo- orders, excluding volatile ber 2009, whereas they annual rate) growth from ones, fell a seasonally dropped a 23.2% in a an initial estimate of 1.3% adjusted 4.5% in October, year. Exports to Switzer- (4.8% at annual rate). showing the first fell in land remains relatively Furthermore, the Tankan three months. On the fi- stable from September to index for large manufac- nancial front, the strong October (-1.1%) and turers increased 9 points yen (91.16 yen per dollar soared 61.6 % in October from minus 33 in Septem- on December 17) dam- from a year earlier. The ber to minus 24 in Decem- ages the competitiveness index of industrial produc- ber, showing a third con- of exports. Core consumer tion also went up 0.5% secutive quarterly im- prices also fell 2.2% in Inside this issue: from September to Octo- provement. The Bank of October from previous ber to 86.1, showing an Japan forecasts the index year, showing the eight Japan’s economic situation 1 increase for the eight to rose to minus 18 in straight months of de- straight month (see March 2010. The index is crease. As deflation af- graph). Moreover, the the difference between fects corporate earnings JETRO foodstuff seminars 1 & 2 Cabinet revised its esti- companies describing fa- and delays consumption, mate for real GDP growth vorable business condi- it remains a threat to the for the July-September tions minus those describ- economic recovering. Interview. Dominique 2 period to 0.3% (1.3% at ing negative business con- Gauthier, Chef in Geneva

Japan unveiled its fourth 3 stimulus plan JETRO foodstuff seminars JETRO Geneva organized Geneva, in Hotel Beau- Japanese seasonal prod- Japanese apples and black 3 two seminars to present Rivage, in Geneva. About ucts, such as fruits, vege- garlics at Globus Japanese foodstuffs. 60 people attended the tables, condiments and Around 40 food specialists public seminar held on alcohols. Many of these A plant thriving in desert 4 took part in the November November 25, in ground products are still yet un- areas 24 seminar organized, in floor room of the Consu- known in Switzerland. collaboration with the late-General of Japan at Chamber of Commerce, Geneva. (Continued on page 2) Industry and Services of Participants discovered Page 2 JETRO Geneva Newsletter

JETRO foodstuff seminars (Continued from page 1) fruits. Still today, fruits Uchitomi, manager of In his welcome state- remain luxury goods in Japanese shops in Swit- ments, Mr. Watanabe, Japan. zerland, explained how to JETRO Geneva Director On November 24, the cook miso soups and General, said that thanks seminar was moderated cookies. to the Switzerland - Japan with dynamism by Mr. Free Trade and Economic Meyer, Chamber of Com- Partnership Agreement, merce, Industry and Servi- Seminar for foodstuff specia- access of Swiss special- ces of Geneva. Dominique lists, November 24, 2009, Ho- ties (cheeses, choco- Gauthier, Chef of the res- tel Beau-Rivage, Geneva lates, wines, dried taurant Le Chat Botté , meats…) to the Japanese presented the dishes he market and of Japan’s prepared and expressed foodstuffs (miso, soy his impressions (see inter- From left to right: Mr. Kurahayas- sauce, sake…) to the view below). Mr. Kuraha- hi, hotel-restaurant Usagiyama Swiss market are en- yashi presented the Director, Mr. Watanabe, JETRO hanced. Usagiyama restaurant, Geneva Director General, Mr. Meyer, Director, International Ushio Oshima, Sembi- the only one-Michelin-star Affairs Department, Chamber of kiya's Executive Planning Japanese restaurant in Commerce, Industry and Services Director, explained that Switzerland and the of Geneva, Mr. Oshima, Sembi- kiya's Executive Planning Director, before the company was Kaiseki, the traditional Mr. Mizushima, Minister, Perma- set up, 175 years ago, Japanese multi-course nent Mission of Japan to the Uni- Japanese people used dinner. ted Nations and Other Internatio- only to eat few traditional On November 25, Tatsuya nal Organizations in Geneva.

Interview. Dominique Gauthier, Chef in Geneva Dominique Gauthier, Chef perfect. I also loved the wasabi, enokitake and of the one-Michelin-star yuzu (a citrus fruit origi- Japanese kaki. It is al- restaurant Le Chat Botté nating from East Asia). I ways extremely rewarding in Geneva, prepared a loved its zest. While the to discover new flavors. dish for the November 24 lemon has a very aggres- One of the usual rules of JETRO Japanese foodstuff sive taste, the one of yuzu French cuisine is to have seminar. Fascinated by is rounder and has a three products and three Asia, he wanted to know stronger flavor. Initially, I flavors. This time I had more about Japan: “I love found the carrot of Kyoto more flavors, but some this culture based on re- as tough as rutabaga. But had a soft one and others Dominique Gauthier, Chef of Le spect, I think this is a com- I liked its interesting color a strong one. Chat Botté in Geneva mon feature with Switzer- that brought something land”. He also empha- cheerful in my dish. sized that “Japanese cuisine can very easily be Do you think Japanese digested, is light and fla- foodstuffs go well with vors dishes”. French cuisine?

What was your impression I think using Japanese when you cooked the foodstuffs makes look the Japanese foodstuffs? dish more beautiful and Dominique Gauthier’s dish modern. I already use Grated mix of red Kyoto’s It was the first time I used Asian foodstuffs in my carrots and of Rutabagas your fresh products. The dish and I would like to go covered by scallops and root of Wasabi was a great further. I hope that it will enokitakes (white mushrooms discovery. I grated it and be getting easier and eas- used in Japanese cuisine). Emulsion of squashes and of the blend with scallop was ier to find stuffs like fresh sweet potatoes. Issue 9 Page 3

Japan unveiled its fourth stimulus plan On December 8, the Japa- current severe economic including hybrid cars, is nese government unveiled and employment situation, extended until late Sep- a ¥ 7.2 tio. (CHF 82 bio.) the yen's rise and defla- tember 2010. The “eco- economic stimulus plan, tion”, the government point” program, which 1.5% of GDP. said. provides consumers incen- This stimulus plan is the ¥ 3,500 bio. (CHF 40 bio.) tives to purchase environ- fourth plan since the be- will be used in tax grants mental-friendly products, is ginning of the world eco- to local governments to also extended. nomic crisis and the sec- support rural areas. ¥ 800 bio. will be used to ond in fiscal year 2009. In ¥ 1,700 bio. (CHF 19 bio.) reduce medical expenses April this year, the former will be spent to expand of elderly people and to Japan’s government al- emergency loans for small meet needs related to Share of Japan’s fourth econo- ready agreed a ¥ 15.4 tio. and medium sized compa- H1N1 virus. mic stimulus plan (CHF 170 bio.) package. nies. ¥ 600 bio. (CHF 7 bio.) will On December 2, the Bank The government will also be sent to facilitate subsi- of Japan also approved a allocate ¥ 800 bio. (CHF 9 dies granted to companies ¥ 10 tio. (CHF 114 bio.) bio.) to stimulate environ- to avoid lay-offs. program to cope with de- mental investments. “Eco- Around ¥ 2.7 trillion of the flation and strong yen points” will be provided to stimulus plan will be paid pressures. customers who invest in for from the previous ad- The objective of this new environmental-friendly ministration’s extra- stimulus plan is “to make accommodations. The budgetary fund. the economic recovery subsidy granted to envi- solid in the face of the ronmental-friendly cars,

Japanese apples and black garlics at Globus From early December until the one of normal garlic, rector of Katayama Ringo Christmas, Globus Swiss and a creamy texture. It Co., Ltd, the apple’s ex- stores sell black garlics can be eat as a snack or porting company, also said and apples imported from added to salad or to sauce that he believes that the the Aomori prefecture in to enhance its flavor. company will be able to the North of the Honshu’s Shinich Kashiwazaki, Di- expand to new markets. island. rector of the company, Experience of sales in Swit- Black garlic is produced by who visited the Zurich’s zerland will serve to as- Kashiwazaki-seika Co. by department store on De- sess whether exports Japanese apples (from left to fermenting garlic at 80 cember 4, expressed his should be extended to right): Mutsu, Kinsei and Sekai -Ichi. degrees during 30 to 40 belief that the product will other European countries. days. This process in- be successful in Switzer- creases the nutritional land. On December 14, value while eliminating Globus Geneva’s store odor. Black garlic has ap- already sold half of its proximately 5.8 times stock of black garlic bulbs. more polyphenol antioxi- Globus also sells high- dants than regular garlic. class “Mutsu”, “Kinboshi” This compound helps to and “Sekai-Ichi” apples. reduce risks of cardiovas- Japanese apples are big- cular disease and cancer. ger, sweeter and crisper The product has a subtle than many Western ap- Black garlics (Left picture: sweet taste, softer than ples. Yutaka Yamano, Di- zoom on black garlic bulb) Issue 9 Page 4

A plant thriving in desert areas Idemitsu Kosan Co., Ltd., tive from Brazil and the invested in a 50 % share a Japanese petroleum United States, in the fam- of Green Geo Co. Ltd. to company, founded in ily of Verbenaceae. In start the production and 1911 under the name of 1997, Professor Hitoshi sale of Kurapia seedlings. Idemitsu Shokai estab- Kuramochi of University Green Geo Co. Ltd. is today lished Green Geo Co., Ltd. Utsunomiya, in Tochigi owned by Idemitsu Kosan jointly with SBL Co. Ltd Pref. (100 km North of Co. Ltd. (50 %), SBL Co. and Green Produce, Inc. to Tokyo) identified this vari- Ltd. (37.5 %) and Green produce the Kurapia, a ety that was then regis- Produce, Inc. (12.5 %). new plant with superior tered under the Japan’s Idemitsu Kosan began in soil adaptability. As this Plant Variety Protection April 2007 in-situ experi- new plant has lower main- and Seed Act. ments to check resistance tenance cost in green Established in April 4, of the plant to hot tem- space, it may serve to 2008, with a ¥ 80 million peratures and sowed the counter global warming capital, Green Geo Co. plant in Middle East desert and to prevent soil ero- Ltd. expects sales of ¥ 2 areas. It confirmed its abil- sion. billion by 2018. As Idemi- ity to thrive under tempera- Kurapia is a variety of Lip- tsu Kosan confirmed the tures of 50 degrees. pia nodiflora, a plant na- superiority of Kurapia, it

Agenda

28 th January: JETRO Japan Night in 2010 Davos World Economic Forum Annual Meeting, Central Sporthotel Japan dinner with sushi, 100 kinds of sake, Japanese fruits and demonstration of “Amezaiku”

18 th - 25 th Mar.: Japan Pavilion in Baselworld, Hall 6 Ten Japanese pearl firms will exhibit

JETRO is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO’s core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential. 80, Rue de Lausanne 1202 Geneva The JETRO Geneva Newsletter can also be viewed and/or Phone: 022/732 13 04 downloaded online: Fax: 022/732 07 72 http://www.jetro.go.jp/switzerland/newsletter E-mail: [email protected]