How much additional transition to this new system would cost has been estimated at JPY 9-24 trillion.
The big surprise would be a change to market risk that could increase an appetite for JPY and in-turn squeeze the weaker and most vulnerable of JPY shorts.
Despite all of the G10 JPY crosses looking short-term bearish, the single currency remains firmly steadfast in its technical range.
Average overseas (excluding UNBC) loan balances at period-end were JPY 13.4 trillion, down JPY 0.9 trillion YOY.
FORBES: Mitsubishi UFJ Financial Group--A Megabank View of Japan's Economy (2)
Interest-bearing debt was JPY 1.2 trillion, relatively high financial leverage for a manufacturing company with high operating leverage.
In FY 2011, tax and non-tax revenues total JPY 48.1 trillion.
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The upstart or young pretender KRW (South Korean won) is currently weak against the USD on event risk, but the market anticipates the currency to trade back to pre-crisis strength against the JPY.
Implementing waste-cutting measures: JPY 500 billion reduction.
As at March 31, TSE-listed companies were holding record JPY 50 trillion in cash.
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But this is lower-margin business that contributed only JPY 50.3 billion in gross profits in FY 2010.
FORBES: Mitsubishi UFJ Financial Group--A Megabank View of Japan's Economy (2)
Technically, the EUR and EUR crosses, especially JPY, will try and fill in the -2% gap first witnessed on the open Down Under.
It is hoped that an additional JPY 7 trillion will come in from non-tax revenues, such earnings of the central bank, fees charged for boat racing, and some taking from previous special government accounts.
As a result of this transaction, a non-cash impairment loss of approximately JPY 66 billion is expected to be incurred by Sony in the third quarter of the fiscal year ending March 31, 2012, due to the reevaluation of its S-LCD shares.
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In FY 2007- 2009, Hitachi recorded losses totaling JPY 952 billion (USD 12.2 billion).
The 1995 Kobe-Kansai earthquake cost the government some JPY 5 trillion, which was financed by issuing government bonds.
Net operating cash flow is JPY 200 billion, against net investment cash flow of -47 billion and financing cash flow of -184 billion.
Converting to one-time block grant to local governments: JPY 510 billion reduction.
The third (and final) profit-maker was Union Bank of California, contributing JPY 46.1 billion, up from a loss of JPY 7.3 billion in FY 2009.
FORBES: Mitsubishi UFJ Financial Group -- A Megabank Window on Japan's Economy (1)
First, it wants, as noted, to establish a tax-funded universal entitlement to basic living income (set at JPY 70, 000 a month, up from the current JPY 66, 000) for all elderly and retired persons, with, however, a phased reduction and final elimination of the entitlement in relation to pension benefits being received from pension plans into which had previously contributed premiums (i.e, the current system).
As for share buybacks, a Nomura Securities analysis finds that during the April-December 2010 period, stock buybacks were up by 30 percent to about JPY 700 billion.
In the 12 months to end March 2012 the company lost JPY 376 billion (USD 4.8 billion), largely attributable to its over-investment in money-losing liquid crystal television production and sales.
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Together with local debt, long term government bonds outstanding will total some JPY 900 trillion, close to 180 percent of GDP, a level higher even than crisis-gripped Greece.
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