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Wednesday, January 14, 2015, 12:00 - 14:00

Japanese Economy in 2015: Can Abenomics Deliver Growth?
Hiromichi Shirakawa
Chief Economist, Credit Suisse Securities Japan
Martin Schulz
Senior Research Fellow, Fujitsu Research Institute
Language:The speech and Q & A will be in English

 Japan's economy is forecast to have rebounded an annualized 3% in the October-December quarter after posting a technical recession in the previous three-month period, but for the whole of fiscal 2014 ending in March, economists project a 0.5% drop, the first contraction in five years.

 While falling energy prices are expected to support Japan's growth in the longer term, they are posing a near-term threat to the Bank of Japan's target of anchoring inflation around 2% in about two years from April 2013, when the central bank launched aggressive easing to end years of deflation. Real average wages remain depressed and consumer spending hasn't shown a clear sign of recovery from what was initially believed to be a brief pullback caused by the April sales tax hike.

 Against this backdrop, two leading Japan watchers will speak at the Club to discuss how the economy will perform in 2015.

 Hiromichi Shirakawa is the chief economist for Japan at Credit Suisse Group AG. He held various roles at the BOJ and the OECD before moving into the private sector. Shirakawa joined Credit Suisse in 2006 from UBS Investment Bank. He holds a BA in economics from Keio University and studied finance at the University of Washington's Graduate School of Business.

 Martin Schulz is a Senior Research Fellow at the Fujitsu Research Institute, a private think-tank and consultancy that focuses on economic policy and corporate strategy in Japan. Schulz was a visiting researcher at the BOJ and University of Tokyo, assistant professor of economic policy and monetary integration.

 Please reserve in advance, 3211-3161 or on the website(still & TV cameras inclusive). The charge for members/members' guest is 1,750/2,700 yen; non-members including guest-members eligible to attend may pay in cash. (Menu:. sauteed salmon with tomato Sauce) Reservations canceled less than one hour in advance for working press members, and 24 hours for all others, will be charged in full. Reservations and cancellations are not complete without confirmation. For meal service, please enter the room by 12:25.

 *Working Pressは1時間、Associate, non-memberは24時間以内のキャンセルはフルチャージとなりますのでご注意ください。なおキャンセルは電話でのみ承ります。

Professional Activities Committee


 Jan 14 15 PL Hiromichi ShirakawaMartin Schulz009Jan 14 15 PL Hiromichi ShirakawaMartin Schulz019

Hiromichi Shirakawa                         Martin Schulz

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