Reborn Tokyo Golden Age

The appreciation of the yen has caused Neon's export-oriented enterprises to continue to slump.

Now it is not only the metal and textile industries that are affected, but also the mining industry has basically come to a standstill in the second half of the year.

However, whether it is metal textiles or mining, they are not the main output products of Neon.

In Japan and rice trade, the relatively strong share of semiconductors, automobiles, and home appliances almost exceeds half of the total output.

And there are only a few excellent companies that are more competitive in these three fields.

Six companies including NEC, Hitachi, Toshiba, and Fujitsu in the semiconductor industry, and Toyota, Nissan, and Honda in the automotive industry.

In the home appliance industry, Panasonic, Sony, Shirakawa Electric, Sharp, etc., the export products of these excellent enterprises account for more than half of the total value of Neon's foreign trade.

According to the statistics, 13% of the labor force of all the employees of the whole neon works in the above enterprises.

For a country, this ratio is actually very exaggerated.

Therefore, although many small and medium-sized enterprises are unsustainable, the total export share of Neon has not been greatly affected.

But it doesn't affect it for the time being, and that doesn't mean it won't affect it in the future.

Because of the appreciation of the yen, the prices of Neon's products exported to the United States are also rising.

In the current era, neon products exported to the United States are first priced in yen and then converted into dollars.

For example, a Toyota car is priced at 3 million yen in Beimi, which is 12,000 U.S. dollars at last year's exchange rate.

However, due to the exchange rate problem, the price of the Toyota car in Beimi has also changed to nearly 18,000 U.S. dollars this year at the same price of 3 million yen.

There is a huge gap of 6,000 US dollars in the middle. Even if the people of the United States like neon thin-skinned cars, they have to weigh whether it is worthwhile.

At the beginning, Toyota and they will maintain their market share by lowering their prices.

But now this trick is not easy to use, because the US government has imposed a price limit on imported neon products.

Neon companies cannot lower the prices of their products in Beimi at will, otherwise they will be warned of anti-dumping.

The price reduction can only be reduced a little, and the agreement of the US Department of Commerce must be obtained before the price reduction can be carried out.

Lao Mi is so unreasonable, deliberately restricting the price of neon products, making it lose its competitiveness in the North Rice market.

In order to prevent its own market share from being encroached on, neon companies are willing to accept the deterioration of revenue and maintain the market.

Of course, this also includes Shirakawa Electric, whose export profits of Walkmans and CD players have dropped again and again since the beginning of the year.

The share of each quarter is probably declining at a rate of 2% to 4%, and no one can stand it after a year.

And looking at this trend, it may be the norm for quite a long time in the future.

If it weren't for its own unique technology, Baichuan Electric's situation might have been even more difficult.

In overseas markets, in addition to Neon companies, they are producing Walkmans and CD players.

States and the United States also have their own related brands, but because of the late start, the market share has not been large.

Relying on international popularity and unique audio technology, Sony and Shirakawa Electric have always been mainstream brands in overseas markets.

But no matter how mainstream it is, it can't stand the price rising. If it rises a lot, everyone will naturally choose the one with a lower price.

If it weren't for the portable walkmans and CD players that occupy the bulk, the prices themselves would be within three or four hundred dollars.

Even a 40% increase in price isn't too much of an exaggeration, and it's far better than a car's several thousand dollar increase.

Therefore, in terms of market share, Shirakawa Electric and Sony can still barely maintain their advantages.

However, on some high-end models, sales have dropped significantly.

Looking at the financial report in his hand, Bai Chuanfeng frowned.

"Has Philips already surpassed us in high-end models?"

"Hay" Hasegawa was also frowning.

In the previous high-end market, the only one that could compete with Shirakawa Electric was Sony.

However, because of the rise in the yen, Philips, which ranks third, has unknowingly squeezed Shirakawa Electric from the second place of Wannian, and now the latter ranks third.

But for this force majeure factor, let alone Hase, even Bai Chuanfeng has no good solution.

Philips is headquartered in Helan. The currencies of the three states in the Plaza Accord appreciated, but Helandun did not.

Therefore, under the condition that the technical gap is not too large, Philips quickly completed the overtake.

"Speed ​​up the development of the Wuzhou market, Beimi won't let us lower the price, then we will lower the price in Wuzhou!"

Bai Chuanfeng was also forced to use this hooligan way of lowering prices.

Old Mi is too domineering and he can't handle it, so he can only find a way from other places.

"In short, we need to make up for the lost market in Beimi.

In addition to the Uzhou market, we also need to step up efforts to develop low-end markets in Southeast Asia.

Lijiapo, Xiangjiang, Bangzi, they should have no problem consuming low-end products. "

This is also a way of open source. Although low-end products have low profits, they can earn a little bit.

Besides, in the Southeast Asian market, the income in a few years may not be comparable to that of Wuzhou.

However, after hearing Bai Chuanfeng's decision, Hasegawa hesitated, "Hey, is the price lowered in Wuzhou?

In that case, will the state and the state protest? "

Bai Chuanfeng thought about it for two seconds, but still insisted on the idea just now.

"Let's do this first, and wait until Wuzhou responds."

The current state of Wuzhou is still in a state of disunity. Even if there is any objection to Baichuan Electric's price reduction, it is too early to implement it.

In order to reduce costs and ensure their own profits, haven't you seen that big companies like Toyota are also tightening their belts?

The cutting coolant used to be thrown away after one use is now honestly collected and reused.

With the continuous appreciation of the yen, not to mention profits, many neon companies have taken keeping the market as the first element.

If you withdraw from the overseas market at this time, not to mention it will be a major blow to the company. If you want to come in again in the future, it will be extremely difficult.

The market has always been ruthless, as long as you disappear from the eyes of the public for a period of time, who will remember you by then.

Therefore, in order to keep the market, profit is no longer the first element of pursuit, and even the company will not hesitate to cut prices at a loss.

Shirakawa Electric may not have reached that level, but the future prospects are also not optimistic.

Of course, Bai Chuanfeng is not the only one who suffers from headaches. Several giants in the fields of semiconductors, automobiles, and home appliances are also anxious.

Since everyone is a victim and a member of the Keidanren, they decided to put pressure on the Nihong government in private.

Although when the yen appreciated in the first place, most of the chaebols within the Keidanren voted in favor.

But no one thought that the appreciation of the yen would be so fast.

The original appreciation bottom line was 1:200, but now, it basically hovers between 1:150 and 1:160.

This exchange rate is a huge burden for any export-oriented company.

Therefore, under the joint efforts of most chaebols, Zhong Zenggen's cabinet was under pressure and had to find ways to cool down the yen again.

One of the measures is to continue to sell the yen and eat into the dollar. At the same time, the new Prime Minister Kiichi Miyazawa also began to visit the United States frequently.

Facing Neon's request here, Finance Minister Baker of the United States replied coldly.

"Countries have their own ideas about the currency market, and they do not criticize each other's actions. It is Neon's own judgment to intervene in the purchase of US dollars.

Just buy it yourself, don't expect Mifang to buy it too. "

Since then, Neon has been isolated on the exchange rate issue.

Another reason behind it is that both Germany and Britain hope that the yen will appreciate further in order to weaken the competitiveness of the neon manufacturing industry.

It's still the same sentence, a dead fellow Taoist will never die a poor Taoist.

Your yen has risen so much anyway, it doesn't matter if it rises a little more.

Facing the isolated and helpless situation in the world, Nihong has no choice but to continue to tamper with itself.

So in October, the Bank of Japan continued to lower the benchmark gold by 0.5%, and the bank interest rate reached the lowest level in history at 3%.

On the one hand, the reduction of interest rates can stimulate domestic demand, and on the other hand, it can also reduce the holding rate of international capital on the yen.

However, as before, the exchange rate of the yen has not changed much, and it is even rising.

Now even Miyazawa Kiichi, who has a radical policy, started to panic, which is too abnormal.

The laws of economics learned in the past seem to have completely lost their effect at this time, and there are no similar cases in history.

The Minister of Finance, Miyazawa Kiichi, who felt uneasy, called the home of Bank of Japan President Sumita several times in the long night.

"Sumita-san, what does the Bank of Japan think of the current exchange rate market? Will there be no problem tomorrow?"

Facing the exchange rate of 1:150, Miyazawa Kiichi felt panic in his heart, and even Sumita on the other end of the phone could clearly feel it.

But faced with such a question, what can Sumita answer?

The foreign exchange market is not controlled by the Bank of Japan, so Sumita has nothing to do but comfort him.

This is a small microcosm of the sharp appreciation of the yen.

The people are jubilant, the manufacturing industry is wailing, and the government is panicking.

However, near the end of October, after the Neon government submitted a large number of domestic demand revitalization plans to the United States again.

The United States has suddenly let go of the demand for neon.

Reduce tariffs on American products, open up the semiconductor market and computer market, simplify the review of imported products, and continue to reduce the yen interest rate.

After receiving these nomination certificates, Finance Minister Baker finally stood together with the Minister of Finance and shouted to the outside world.

"As part of the ongoing dialogue on economic, trade and financial issues between Japan and the United States. The two countries have coordinated with each other and reached an agreement on a series of issues of mutual concern."

Although it did not say what specific agreement was reached, the market believes that this is an agreement on the yen after the Plaza Accord.

As a result, the yen began to fall, and it fell to about 1:164 in just one month, and it basically remained within this range until the end of the year.

Seeing that the appreciation of the yen has finally shown its weakness, the entire neon government and the manufacturing industry are relieved.

Although the current exchange rate is still very high, everyone is satisfied if they can maintain this level.

The blame is that the previous rise was too fast, and now the exchange rate is almost the bottom line, and everyone can accept it.

But will things be so smooth? Of course not, but that's for another day.

The year 1986 may not have been easy for the export manufacturing industry, but the people were very happy.