Since the last fall, Japanese economical situation has been taking a turn for the better. This is reflecting the dissolution of monetary unrest and the markets rapid resumption of its strong pace. Carefully analyzing recent economic numbers from the government, it would be possible to say that Japanese economy is actually improving. It seems that, through the medias hypes of a pessimistic outlook on Japanese economy, we underestimated a Japanese economical potential. Let us take a look at some economic numbers showing the recovery of Japanese economy:

　　1. The largest number of foreign investors long interests in Japanese stocks
The foreign investors long interests in Japanese stocks: 11.35 trillion JPY in 2003; 2.69 trillion JPY in March, 2004.
This data shows an afflux of foreign capitals to Japan.

　　2. The largest number of sales of idle government-owned lands
Sales of idle government-owned lands in 2003: 367.7 billion JPY
　　(This broke the record in the sales of idle public lands, 290 billion JPY, which had set in 1989).
Furthermore, the percentage of idle government-owned lands which were successfully bidden is also high:
National average: 74%
Tokyo, Saitama: over 80%
The average in Shikoku and Fukuoka areas is relatively low (50%). Nevertheless, this average shows a remarkable recovery from the impact of the bubble collapse.
These facts seem to show that owners of small business or land agents resumed their investments in the lands which had exaggeratedly declined in their values.

　　3. National current account surplus on the rise
National current account surplus as of February, 2003: 15.44 trillion JPY. It is forecasted that the record of national current account surplus will be broken around March, 2004.

　　4. Many companies reports on their good business results for this March quarter
Many companies have reported their good results already last year. However, most of these results only reflected the effects of their restructuring. On the other hand, their reports for this March quarter show more substantial revival.

Our company has also improved since last September and marked increases both in sales and profit.

　◯ Sales in 3rd Quarter of 8th Term