Covid-related Financial Relief
As relief from economic and financial distress caused by the coronavirus pandemic, you may have received subsidies or grants from the national and/or local government. You may be wondering if you must declare this assistance on your income tax return. Here is a summary of tax treatment and revenue recognition timing published by the National Tax Agency of Japan.
Third Annual ACCJ Shareholder Forum
After more than a year of operating during the coronavirus pandemic—and adapting to the changes it has brought forth—companies are facing another season of shareholder meetings. With vaccinations signaling that we may soon emerge from the crisis into a more familiar, although changed, world, leaders are able to focus on other critical areas, such as the environment and sustainability, as well as diversity and inclusion.
Attracting Global Investment
Two recent papers produced by committees of the ACCJ have highlighted the considerable opportunities that would result from changes to regulations that currently hinder Japan’s financial sector from attaining its full potential. And with the Japanese government committed to raising Tokyo’s profile as one of the world’s top financial centers, the committees are hopeful that regulatory authorities here might embrace some of the proposals.
Invest in Your Business—and in Yourself
As we continue building entire issues of The ACCJ Journal around singular themes, this time we take a look at investment—specifically, investing in Japan. From individual entrepreneurs to large organizations, there are many opportunities to be had. There are also many needs to be addressed as the world continues to battle Covid-19 and look beyond the pandemic.
Going Long on the ACCJ
As Japan’s most active and influential international business community, the ACCJ plays a vital role in improving the country’s business environment. As an ACCJ leader, you can put your experience to work to create lasting benefits that extend far beyond the scope of your present role.
Of One Blood All Nations
There is ample scholarship around Meiji-period Japan and the United States that John Bingham did more to shape America’s initial diplomatic relationship with Japan than any other American. In his biography of Bingham, former ACCJ Executive Director Sam Kidder contributes significantly to that body and makes a persuasive case for the US minister to Japan from 1873 to 1885.
Outside Options
Over the course of their career, many professionals will live and work in multiple countries. And as expats, they will find financial opportunities and face challenges that those who stay put in their home country may not. Making and managing investments can be complex, but experts interviewed by The ACCJ Journal shared ways to maximize resources, grow wealth, and navigate potentially higher taxes, investment restrictions, and language issues.
Digital Transformation of Committees
When the ACCJ kicked off the transformation of its website platform early last year, the process sparked a conversation among members of the Chubu chapter about what digital tools our committee leaders need to succeed in bringing value to members and addressing pain points.
My Leadership Journey
Eriko Asai, president of GE Japan and ACCJ chair, spoke at an event co-hosted by the ACCJ-Kansai Business Programs Committee and Diversity & Inclusion Committee. She revealed what she had learned on her way to becoming GE Japan’s first female president. The landscape has changed significantly since Asai took the helm of GE Japan in January 2018, and the company currently is undergoing its biggest business transformation of the past 128 years.
Are Minpaku a New Asset Class?
Although inbound tourism has been put on hold as the world grapples with Covid-19, Japan was a top destination prior to the pandemic and no doubt will be again. Driven by the Japanese government’s focus on tourism as part of its recovery efforts following the global financial crisis of 2008, minpaku (short-term rentals) have become a big opportunity for investors and real estate owners.
Finding Success through Diversity
It’s annual general meeting season in Japan. I will participate in a few for the boards on which I serve as an independent director and anticipate that this year will be quite exciting, because the calls for greater independence of corporate boards are more insistent than ever. Indeed, some activist investors are setting the table stakes at 30-percent independent outside directors.