MONTHLY FINANCE REVIEW

Size: px
Start display at page:

Download "MONTHLY FINANCE REVIEW"

Transcription

1 ISSN MONTHLY FINANCE REVIEW ch 2018 No. 536 Policy Research Institute MINISTRY OF FINANCE JAPAN

2 MONTHLY FINANCE REVIEW ch (No.536) CONTENTS STATISTICS(Released by Ministry of Finance) A. Balance of the Fiscal Loan Fund (22.)... 2 B. Trade Statistics (30.)... 4 C. Taxes and Stamp Revenues (1.)... 8 D. Receipts and Payments of the Treasury Funds with the Private Sector (2.) E. Official Reserve Assets (7.) F. Balance of Payments (8.) G. International Transaction in Securities (Monthly; based on reports from designated major investors) (8.) H. The balance of Offshore Accounts (16.) I. Central Government Debt (9.) PUBLIC RELATIONS & PRESS RELEASE A. New Tax Convention with Spain Agreed in Principle (21.) B. Designs of The Olympic and Paralympic Games Tokyo 2020 Commemorative Coin Program (First Issue) (23.) APPENDIX A. Quarterly Estimates of GDP, (The First Preliminary) (14.) B. Monthly Economic Report (ruary) (21.) MAIN ECONOMIC INDICATORS OF JAPAN... 40

3 STATISTICS

4 A. Balance of the Fiscal Loan Fund (the End of the Month) (22 uary 2018) ( billion yen) Assets 127, , , , , , , , , , , , ,643.0 Cash/Deposits 1, , , , , , , , , , Securities Government Bonds Other Bonds Trust Beneficiary Rights and Others Loans 125, , , , , , , , , , , , ,777.7 Loans to General Account and Special Accounts 23, , , , , , , , , , , , ,419.3 Loans to Government-related Institutions 18, , , , , , , , , , , , ,110.4 Loans to Local Government 49, , , , , , , , , , , , ,715.1 Loans to Special Corporations 33, , , , , , , , , , , , ,532.9 Liabilities 127, , , , , , , , , , , , , Deposits 32, , , , , , , , , , , , ,991.6 Special Account Deposits 23, , , , , , , , , , , , ,978.5 Fund Deposits 2, , , , , , , , , , , , ,517.1 Mutual Aid Cooperative Deposits 3, , , , , , , , , , , , ,234.7 Other Deposits 2, , , , , , , , , , , , ,261.2 Long-term Bonds 94, , , , , , , , , , , , ,933.8 Others , , ,717.5 (Note) Figures may not total due to rounding. Source : Financial Bureau (

5 Trend of Balance of the Fiscal Loan Fund ( billion yen) Assets 200, , , , , , , ,000.0 Liabilities Assets: Cash/Deposits Assets: Securities Assets: Loans Liabilities: Deposits Liabilities: Long-term Bonds Liabilities: others

6 B. Trade Statistics (30 uary 2018) 1.Value of Exports and Imports by Area (Country) ( 100 million yen ) 2016* 2017 ** ** ** ** ** ** ** ** ** ** ** (P) Total Exports 66,789 54,220 63,475 72,296 63,294 58,512 66,084 64,952 62,786 68,111 66,936 69,210 73,031 Imports 60,430 65,139 55,364 66,193 58,503 60,576 61,670 60,732 61,691 61,471 64,129 68,139 69,444 Balance 6,359-10,919 8,111 6,103 4,792-2,064 4,414 4,220 1,095 6,640 2,807 1,071 3,587 Asia Exports 37,401 28,873 34,864 38,607 34,482 32,341 35,781 34,954 35,106 37,047 37,128 38,953 41,127 Imports 29,218 33,608 24,884 32,206 28,325 29,275 30,068 30,260 29,972 30,899 32,059 34,598 33,807 Balance 8,183-4,735 9,980 6,400 6,157 3,066 5,713 4,693 5,134 6,148 5,069 4,356 7,320 P.R.China Exports 13,011 8,870 11,966 12,995 11,877 11,170 12,479 12,115 12,189 12,841 13,542 13,798 15,075 Imports 14,845 17,976 10,809 16,206 14,312 14,296 14,520 14,683 14,601 15,675 16,209 18,121 17,053 Balance -1,835-9,106 1,157-3,211-2,435-3,126-2,040-2,568-2,411-2,834-2,667-4,324-1,978 Hong Kong Exports 3,670 2,627 3,622 3,599 3,058 2,977 3,627 2,888 3,169 3,663 3,149 3,704 3,660 Imports Balance 3,520 2,517 3,538 3,250 2,930 2,871 3,302 2,797 3,081 3,349 3,058 3,614 3,389 Taiwan Exports 4,213 3,235 3,921 4,060 3,801 3,335 3,747 3,787 3,573 3,943 3,842 3,997 4,340 Imports 2,146 2,350 2,033 2,338 2,106 2,219 2,474 2,514 2,491 2,470 2,451 2,578 2,446 Balance 2, ,889 1,723 1,695 1,116 1,273 1,273 1,081 1,474 1,391 1,419 1,894 Korea Exports 5,068 4,447 4,741 5,665 5,038 4,658 5,051 4,776 4,813 5,024 4,953 5,187 5,431 Imports 2,742 2,718 2,457 2,680 2,351 2,583 2,531 2,681 2,512 2,532 2,543 2,906 3,049 Balance 2,326 1,729 2,284 2,984 2,687 2,075 2,521 2,095 2,302 2,492 2,410 2,280 2,382 Singapore Exports 2,414 2,096 1,909 2,446 1,877 2,010 2,027 2,098 2,403 1,889 2,152 2,171 2,329 Imports Balance 1,745 1,330 1,055 1,598 1,071 1,228 1,189 1,343 1,645 1,085 1,427 1,349 1,534 Thailand Exports 2,735 2,370 2,616 2,824 2,746 2,475 2,717 2,926 2,628 2,894 2,858 2,908 3,048 Imports 1,903 1,937 1,918 2,163 1,787 2,125 2,171 2,183 2,095 2,053 2,277 2,563 2,222 Balance Malaysia Exports 1,197 1,001 1,117 1,314 1,132 1,078 1,159 1,207 1,134 1,250 1,248 1,319 1,355 Imports 1,698 1,957 1,809 1,938 1,759 1,725 1,676 1,801 1,707 1,607 1,776 1,851 2,008 Balance Indonesia Exports 1, ,177 1,372 1,177 1,145 1,123 1,278 1,229 1,349 1,339 1,512 1,330 Imports 1,717 2,013 1,714 1,875 1,663 1,724 1,785 1,748 1,898 1,823 1,989 1,875 2,128 Balance , Philippines Exports ,192 1, ,077 1,029 1,033 1,052 1,106 1,168 1,050 Imports , , Balance Vietnam Exports 1,414 1,059 1,392 1,416 1,354 1,189 1,333 1,335 1,355 1,599 1,423 1,670 1,757 Imports 1,603 1,792 1,329 1,720 1,514 1,731 1,829 1,778 1,764 1,694 1,961 1,892 1,778 Balance India Exports Imports Balance (ASEAN) Exports 10,045 8,509 9,302 10,709 9,414 8,946 9,568 10,010 9,906 10,192 10,251 10,876 11,047 Imports 8,761 9,732 8,835 9,899 8,784 9,388 9,576 9,654 9,564 9,245 10,107 10,289 10,196 Balance 1,285-1, Oceania Exports 1,543 1,866 2,107 1,964 1,759 1,654 1,893 2,166 1,991 2,150 1,857 1,700 1,901 Imports 3,920 3,962 3,889 4,200 3,940 4,076 4,609 4,165 4,533 3,726 3,779 4,253 4,582 Balance -2,377-2,096-1,782-2,236-2,181-2,423-2,716-1,999-2,542-1,575-1,922-2,553-2,681 Australia Exports 1,229 1,424 1,499 1,574 1,399 1,230 1,438 1,572 1,594 1,738 1,499 1,400 1,586 Imports 3,482 3,597 3,492 3,702 3,431 3,461 4,075 3,531 3,956 3,284 3,275 3,811 4,087 Balance -2,253-2,173-1,992-2,128-2,031-2,230-2,637-1,959-2,362-1,546-1,775-2,411-2,502 New Zealand Exports Imports Balance North America Exports 14,449 11,142 13,126 14,796 13,297 11,665 13,947 14,094 12,756 13,831 13,653 14,553 15,009 Imports 7,483 7,576 6,926 8,419 7,484 7,811 8,242 7,752 7,407 7,896 7,424 8,140 8,029 Balance 6,966 3,566 6,200 6,377 5,813 3,854 5,704 6,342 5,349 5,935 6,229 6,413 6,980 U S A Exports 13,698 10,540 12,232 13,532 12,322 10,825 13,043 13,188 11,835 12,975 12,818 13,687 14,114 Imports 6,507 6,552 6,121 7,259 6,454 6,712 7,166 6,720 6,490 6,819 6,377 7,093 6,996 Balance 7,191 3,988 6,111 6,273 5,868 4,114 5,876 6,468 5,344 6,155 6,441 6,595 7,119 Canada Exports , Imports 970 1, ,154 1,023 1,093 1,069 1, ,067 1,040 1,040 1,027 Balance Latin America Exports 2,188 2,718 2,333 3,538 2,438 2,291 2,743 2,815 2,153 2,840 2,600 2,517 2,562 Imports 2,349 2,576 2,569 2,577 2,597 2,575 2,427 2,328 2,583 2,450 2,642 2,890 3,008 Balance Brazil Exports Imports Balance

7 2016* 2017 ** ** ** ** ** ** ** ** ** ** ** (P) Mexico Exports 1, ,188 1,084 1,011 1,079 1, ,083 1,110 1,012 1,110 Imports Balance Chile Exports Imports Balance West Europe Exports 7,242 6,137 7,209 8,670 7,465 7,245 7,741 7,363 7,152 8,027 7,732 7,665 8,132 Imports 7,875 7,377 7,113 7,932 7,085 7,756 8,057 7,335 7,981 8,095 8,631 8,287 8,524 Balance , Germany Exports 1,798 1,468 1,669 1,888 1,674 1,586 1,788 1,803 1,638 1,930 1,856 1,870 2,076 Imports 2,172 2,036 1,980 2,174 1,957 2,148 2,096 2,037 2,473 2,425 2,352 2,085 2,503 Balance United Exports 1,164 1,006 1,280 1,737 1,164 1,265 1,364 1,410 1,205 1,420 1,145 1,240 1,157 Kingdom Imports Balance , France Exports Imports 1, ,074 1,042 1,021 1,066 Balance Netherlands Exports 1,217 1,019 1,154 1,222 1, ,224 1,175 1,145 1,234 1,270 1,125 1,267 Imports Balance 1, , ,004 1, ,054 Italy Exports Imports , ,176 1,016 1,073 Balance Belgium Exports Imports Balance Switzerland Exports Imports Balance Sweden Exports Imports Balance Ireland Exports Imports Balance Spain Exports Imports Balance Central and Exports 1, ,165 1,242 1,432 1,216 1,236 1,221 1,167 1,374 1,347 1,117 1,275 East Europe, Imports 1,924 1,960 1,997 1,924 1,867 2,117 2,043 1,908 1,832 1,698 1,997 1,775 2,003 Russia Balance Russia Exports Imports 1,330 1,304 1,464 1,301 1,294 1,485 1,379 1,305 1,231 1,031 1,275 1,109 1,362 Balance (EU) Exports 7,110 5,966 7,007 8,010 7,179 6,924 7,263 7,210 6,718 7,665 7,534 7,174 7,922 Imports 7,159 6,914 6,596 7,328 6,571 7,332 7,267 6,888 7,566 7,503 8,038 7,675 7,865 Balance Middle East Exports 2,231 1,750 2,026 2,480 1,786 1,495 1,968 1,717 1,749 2,142 2,007 2,059 2,320 Imports 6,757 7,400 7,259 8,132 6,326 6,189 5,465 6,301 6,604 5,895 6,850 7,274 8,711 Balance -4,526-5,650-5,232-5,652-4,540-4,693-3,497-4,585-4,854-3,753-4,843-5,215-6,391 U A E Exports Imports 2,056 2,009 1,889 1,991 1,754 1,965 1,665 1,787 1,950 1,682 1,963 2,019 2,587 Balance -1,215-1,350-1,106-1,008-1,136-1, ,298-1,401-1,007-1,370-1,319-1,801 Saudi Arabia Exports Imports 2,402 2,817 2,653 3,099 2,566 2,225 1,996 2,451 2,441 2,126 2,731 2,774 3,268 Balance -1,958-2,545-2,364-2,692-2,289-1,972-1,686-2,086-2,096-1,710-2,303-2,410-2,806 Kuwait Exports Imports Balance Qatar Exports Imports , ,072 1,070 1,213 Balance ,094 Oman Exports Imports Balance Iran Exports Imports Balance Africa Exports , Imports Balance South Africa Exports Imports Balance (Notes) 1. The value of exports is based upon the F.O.B.value, while the value of imports is based upon the C. I. F.value. 2."(P)" means Provisional. "*" and "**"means "fixed" and "detailed". 5

8 Trend of Value of Exports and Imports ( 100 million yen ) Exports World Balance Exports 100,000 30,000 40,000 Asia Balance 20,000 80,000 60,000 25,000 20,000 15,000 30,000 20,000 15,000 10,000 40,000 20, ,000 10,000 5, ,000-10,000 10, ,000 5, ,000 40,000 60,000-15,000-20,000-25,000 20,000 30,000-10,000-15,000 80,000 Imports ,000 40,000 Imports ,000 Exports 40,000 E U Balance 20,000 Exports 40,000 Middle East Balance 20,000 30,000 15,000 30,000 15,000 20,000 10,000 20,000 10,000 10,000 5,000 10,000 5, ,000-5,000 10,000-5,000 20,000-10,000 20,000-10,000 30,000-15,000 30,000-15,000 40,000 Imports -20,000 40,000 Imports -20, Exports 40,000 P.R.China Balance 20,000 Exports 40,000 U S A Balance 20,000 30,000 15,000 30,000 15,000 20,000 10,000 20,000 10,000 10,000 5,000 10,000 5, ,000-5,000 10,000-5,000 20,000-10,000 20,000-10,000 30,000-15,000 30,000-15,000 40,000 Imports -20,000 40,000 Imports -20, Exports Imports Balance 6

9 2.Value of Exports and Imports by Principal Commodity ( 100 million yen ) 2016* 2017 ** ** ** ** ** ** ** ** ** ** ** (P) Exports 66,789 54,220 63,475 72,296 63,294 58,512 66,084 64,952 62,786 68,111 66,936 69,210 73,031 Foodstuff Raw materials 1, , ,093 Mineral fuels 835 1, ,182 1, ,113 Chemicals 6,879 5,945 6,722 7,268 6,925 6,216 6,536 6,677 6,622 6,997 7,241 7,152 7,643 Manufactured goods 7,329 5,973 7,061 7,856 7,069 6,870 7,385 7,151 6,943 7,449 7,340 7,552 8,208 Machinery 13,298 10,064 13,164 14,782 12,937 11,904 13,350 13,040 12,355 13,313 13,098 13,721 15,147 Electrical machinery 12,052 9,232 10,855 12,012 11,082 9,826 11,336 11,346 11,488 12,382 11,936 12,335 13,136 Transport equipment 15,685 13,572 14,536 17,343 14,601 13,229 15,997 15,611 13,536 15,761 15,632 16,193 16,314 Motor vehicles 10,566 8,105 9,445 10,402 9,291 8,055 10,451 10,224 8,901 10,550 10,587 11,087 11,157 Others 9,028 7,136 8,748 10,456 8,607 8,333 9,258 8,902 9,246 9,693 9,360 9,696 9,610 Imports 60,430 65,139 55,364 66,193 58,503 60,576 61,670 60,732 61,691 61,471 64,129 68,140 69,444 Foodstuff 5,848 5,376 4,598 5,909 5,840 5,954 6,011 5,863 6,056 5,796 6,137 6,440 6,172 Raw materials 3,613 3,804 3,322 3,891 3,794 4,189 4,156 3,962 3,957 3,755 3,847 4,063 3,985 Mineral fuels 13,065 14,553 13,943 14,947 12,498 12,270 11,747 12,196 12,621 11,138 12,381 13,568 16,671 Petroleum 6,005 6,386 6,434 6,828 5,690 5,284 4,773 5,444 5,625 5,238 5,726 6,353 7,735 Chemicals 5,956 6,264 5,632 6,599 6,098 6,427 6,591 6,056 6,331 6,069 6,491 6,569 6,445 Manufactured goods 5,245 5,863 4,673 5,905 5,386 5,732 5,870 5,696 5,722 5,588 5,856 6,293 5,881 Machinery 5,653 6,253 5,217 6,311 5,314 6,112 6,562 6,379 5,903 6,054 5,486 6,240 6,301 Electrical machinery 9,681 10,889 8,225 10,063 8,774 9,091 9,460 9,365 8,935 10,223 11,457 12,355 11,508 Transport equipment 3,029 2,424 2,352 2,597 2,436 2,485 2,604 2,539 2,622 2,861 2,748 2,898 3,119 Others 8,339 9,711 7,402 9,970 8,362 8,316 8,668 8,676 9,543 9,986 9,725 9,714 9,361 (Notes) 1. The value of exports is based upon the F.O.B.value, while the value of imports is based upon the C.Ⅰ.F.value. 2. "(P)" means Provisional. "*" and "**"means "fixed" and "detailed". ( 100 million yen ) 30,000 Exports Imports 25,000 20,000 15,000 10,000 5, Foodstuff Raw materials Mineral fuels Chemicals Manufactured goods Machinery Electrical machinery Transport equipment Source : Customs and Tariff Bureau ( 7

10 C. Taxes and Stamp Revenues (1 ruary 2018) FY (100 million yen) Income Tax 177,100-2,513 8,168 11,740 36,085 11,812 9,484 9,405 13,182 13,333 23,873 7,067 7,181 26, ,111 Withheld at Source Estimate (Revised) Settlement 146,560-2,062 8,184 11,431 31,282 11,544 9,286 9,196 8,188 12,885 23,711 6,133 3,548 11, ,860 Self-assessed 30, , , ,632 15, ,251 Corporation Tax 111, ,819-3,278 3,749 1,790 3,687 33,035 1,811 2,051 10,030 2,187 4,112 43, ,289 Inheritance Tax 21, ,648 1,835 1,489 1,611 1,659 1,669 1,988 1,457 1,994 3,105 1,444 1,302 21,314 Consumption Tax 168, ,337 16,657 17,569 10,903 13,309 17,680 9,721 13,336 19,161 8,271 17,953 29, ,282 Liquor Tax 13, ,165 1,025 1,246 1,180 1,138 1,068 1,074 1,131 1, ,059 13,195 Tobacco Tax 9, ,142 Gasoline Tax Liquefied Petroleum Gas Tax Aviation Fuel Tax Petroleum and Coal Tax Promotion of Power- Resources Development Tax Motor Vehicle Tonnage Tax 23, ,093 2,184 1,757 1,868 2,412 2,005 2,038 2,036 1,904 2,278 1,915 1,815 24, , ,020 3, ,197 3, ,915 Customs Duty 9, ,390 Tonnage Due other Stamp Revenue General Account Total 10,520 1, , , ,600-1,286 10,073 20,691 58,154 41,152 30,750 35,220 72,147 33,578 47,421 44,907 27,892 55,108 78, ,686 (Reference) Local Corporation Tax Local Road Tax Liquefied Petroleum Gas Tax* Aviation Fuel Tax* Motor Vehicle Tonnage Tax* Special Tonnage Due Local Special Corporate Tax Special Tobacco Tax Special income tax for reconstruction 6, , ,343 6,292 2, , , , , ,828 3,788 1, , ,816 1, ,414 3, ,671 other (Notes) 1.* is distributed amount to local governments. 2.Totals may not add due to rounding. Source : Tax Bureau ( 8

11 FY (P) (100 million yen) Income Tax 179,480-3,225 9,052 13,164 37,110 13,261 9,546 9,300 13,631 14, ,973 Withheld at Source Estimate 148,740-2,675 9,081 12,835 32,265 12,985 9,370 9,107 8,592 13, ,284 Self-assessed 30, , , ,689 Total(P) Corporation Tax 123, ,837-1,367 6,351 1,882 4,187 34,574 2,099 47,723 Inheritance Tax 21, ,743 1,562 1,602 1,888 1,948 2,182 2,225 13,319 Consumption Tax 171, ,166-1,944 17,523 17,832 11,497 14,270 18,870 10,090 86,533 Liquor Tax 13, ,117 1,160 1,187 1,172 1,099 1,032 1,044 7,911 Tobacco Tax 9, ,855 Gasoline Tax Liquefied Petroleum Gas Tax Aviation Fuel Tax Petroleum and Coal Tax Promotion of Power- Resources Development Tax Motor Vehicle Tonnage Tax 23, ,057 2,056 1,886 1,908 2,160 2,167 2,027 14, , ,197 3, ,081 3, ,781 Customs Duty 9, ,799 Tonnage Due other Stamp Revenue General Account Total 10,920 1, , ,120-2,479 9,751 21,601 61,699 45,671 31,859 36,440 75,904 35, ,829 (Reference) Local Corporation Tax Local Road Tax Liquefied Petroleum Gas Tax* Aviation Fuel Tax* Motor Vehicle Tonnage Tax* Special Tonnage Due Local Special Corporate Tax Special Tobacco Tax Special income tax for reconstruction 6, , ,719 2, , , , , ,850 3,523 1, ,875 1, , ,418 other

12 Trends in general account tax revenue (100 million yen) FY2014 FY ,000 60,000 50,000 50,000 40,000 40,000 30,000 30,000 20,000 20,000 10,000 10, , , FY2016 FY ,000 60,000 50,000 50,000 40,000 40,000 30,000 30,000 20,000 20,000 10,000 10, , , Income Tax Corporation Tax Consumption Tax 10

13 Trends in general account tax revenue (total) (100 million yen) 180,000 FY ,000 FY , , , , , , , ,000 80,000 80,000 60,000 60,000 40,000 40,000 20,000 20, , , ,000 FY ,000 FY , , , , , , , ,000 80,000 80,000 60,000 60,000 40,000 40,000 20,000 20, , , Income Tax Corporation Tax Consumption Tax 11

14 D. Receipts and Payments of the Treasury Funds with the Private Sector (2 ruary 2018) Category 2017 Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance 1 General Account 46,675 33,520 13,155 65, ,143-44,780 74, ,165-44,917 57,428 39,524 17,904 Taxes 40,182 5,576 34,606 60,268 20,343 39,926 61,897 14,350 47,547 54,490 8,223 46,267 Non-tax Receipt 1,529-1,529 4,787-4,787 11,993-11,993 2,397-2,397 Social Security - 8,539-8,539-27,622-27,622-22,718-22,718-21,796-21,796 Grants to Local Government Entities 4,964 7,014-2, ,828-10, ,914-38, , National Defense - 3,540-3,540-6,466-6,466-7,276-7,276-3,117-3,117 Public Works - 2,226-2,226-30,456-30,456-12,944-12,944-1,142-1,142 Treasury's Share in Compulsory Education Expenditure - 1,000-1,000-1,021-1, Miscellaneous - 5,625-5,625-13,407-13,407-22,023-22,023-3,214-3,214 2 Special Accounts etc. Fiscal Investment and Loan Foreign Exchange Equalization Fund 83, ,425-24,587 92, ,352-15,551 55, ,724-61,671 50,754 58,001-7,247 5,936 5, ,452 43,291 2,160 4,465 2,741 1,724 6,341 27,039-20,699 9,682 11,679-1,997 8,468 8, ,542 11,190-5,648 7,093 7, Insurance 64,460 84,709-20,249 33,854 18,908 14,946 40,026 79,515-39,489 35,590 19,491 16,099 Miscellaneous 3,761 6,127-2,366 5,027 37,292-32,265 5,020 12,946-7,925 1,730 4,424-2,694 3 Subtotal (1+2) 130, ,945-11, , ,494-60, , , , ,182 97,525 10,657 4 Government Bonds etc. Government Bonds (over one year) 125,066 18, , , ,842-25, ,517 19,474 99, ,225 14, , ,630 13, , , ,342-25, ,517 13,474 98, ,635 8,200 99,435 Borrowings 5,436 4, ,000 2, ,000 6,000 1,000 7,590 6,518 1,072 5 Treasury Discount Bills etc. Treasury Discount Bills Short Term Borrowings 285, ,915 54, , ,012 43, , ,583 46, , ,463 47, , ,415 54, , ,512 43, , ,083 46, , ,462 47,434 52,500 52, ,500 31, ,500 31, ,000 42, Subtotal (4+5) 410, , , , ,854 18, , , , , , ,942 7 Total (3+6) 541, , , , ,348-41, , ,946 38, , , ,598 8 Adjustments 3,733 5,441-1,708 7,308 9,628-2,319 6,593 3,540 3,053 4,338 4, Grand Total 9 545, , , , ,976-44, , ,486 41, , , ,638 (7+8) (Notes) Figures do not sum up to total because of rounding. (Annotations) Redemption of T-Bills held to maturity by the Bank of Japan, acquired through outright purchase operations, is excluded from the above table but is indicated in the following lines for information. Redemption of T-Bills (TBs and FBs) held to maturity by the Bank of 56,783 48,086 53,815 55,735 Japan Source : Financial Bureau ( 12

15 (100 million yen) 2017 Category Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance 99,514 90,823 8,692 70,474 62,356 8,118 63,628 36,198 27,430 54,977 75,125-20,148 1 General Account 97,059 22,980 74,079 66,635 23,271 43,364 60,099 8,325 51,773 50,370 10,702 39,668 Taxes 1,644-1,644 2,945-2,945 1,581-1,581 1,384-1,384 Non-tax Receipt - 11,934-11,934-18,030-18,030-13,721-13,721-11,852-11,852 Social Security ,789-38, ,949 3,405-1,456 3,223 42,801-39,578 Grants to Local Government Entities - 2,895-2,895-5,450-5,450-3,309-3,309-2,888-2,888 National Defense - 2,010-2,010-1,666-1,666-2,053-2,053-2,354-2,354 Public Works - 2,836-2, Treasury's Share in Compulsory Education Expenditure - 8,379-8,379-12,976-12,976-4,445-4,445-3,597-3,597 Miscellaneous 69, ,434-46,993 57,822 75,500-17,678 64, ,767-38, ,819 59,405 49, ,525 5,358 5,167 6,756 10,495-3,739 7,270 5,214 2,056 39,759 7,566 32,193 9,644 9, ,664 9, ,886 9, ,986 6, Special Accounts etc. Fiscal Investment and Loan Foreign Exchange Equalization Fund 40,128 81,682-41,554 39,012 18,219 20,793 45,036 83,291-38,255 46,118 22,497 23,621 Insurance 9,144 19,957-10,813 2,390 37,163-34,773 3,003 5,141-2,138 15,956 22,652-6,696 Miscellaneous 168, ,257-38, , ,856-9, , ,965-11, , ,530 29, , ,063-9, ,320 18, , ,661 14,992 97, , ,342-7, , ,063-10, ,320 12, , ,710 8,040 96, , ,342-7,778 Subtotal (1+2) Government Bonds etc. Government Bonds(over one year) 7,000 6,000 1,000 7,000 6, ,951 6, ,500 6, Borrowings 269, ,920 40, , ,905 44, , ,869 31, , ,399 23, , ,920 40, , ,405 44, , ,369 31, , ,899 23,499 42,000 42, ,500 31, ,500 52, ,500 31, , ,983 30, , , , , , , , ,741 16,222 6 Treasury Discount Bills etc. Treasury Discount Bills Short Term Borrowings Subtotal (4+5) 549, ,240-7, , , , , , , , ,271 45,488 7 Total (3+6) 6,580 9,310-2,730 9,479 8,439 1,040 7,024 5,473 1,551 5,299 6,389-1,090 8 Adjustments 556, ,549-10, , , , , , , , ,661 44,398 9 Grand Total(7+8) 48,379 53,592 39,628 30,299 Redemption of T-Bills (TBs and FBs) held to maturity by the Bank of Japan 13

16 (100 million yen) Category Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance 1 General Account 46,133 47,310-1,177 54,172 76,923-22,750 88,370 53,200 35,170 62,060 34,406 27,654 Taxes 42,700 7,845 34,856 51,344 5,465 45,879 85,123 12,804 72,320 59,302 8,013 51,289 Non-tax Receipt 1,443-1,443 1,873-1,873 2,218-2,218 1,728-1,728 Social Security - 20,253-20,253-12,567-12,567-14,521-14,521-9,623-9,623 Grants to Local Government Entities 1, , ,145-46,190 1,028 2,784-1,755 1,029-1,029 National Defense - 3,327-3,327-2,766-2,766-5,235-5,235-2,777-2,777 Public Works - 2,108-2,108-2,321-2,321-3,722-3,722-1,985-1,985 Treasury's Share in Compulsory Education Expenditure ,944-2, Miscellaneous - 12,844-12,844-5,723-5,723-11,191-11,191-11,073-11,073 2 Special Accounts etc. Fiscal Investment and Loan Foreign Exchange Equalization Fund 59, ,226-41,353 56,632 36,260 20,372 52, ,139-59,160 49,881 42,147 7,734 10,188 4,355 5,833 3,991 4, ,665 7, ,786 3,538 3,248 9,615 6,928 2,687 13,319 9,633 3,685 4,723 3,604 1,119 4,878 8,229-3,351 Insurance 37,544 83,439-45,896 37,507 17,025 20,483 38,495 82,890-44,395 33,846 21,688 12,158 Miscellaneous 2,526 6,503-3,977 1,815 4,837-3,023 2,096 18,589-16,493 4,370 8,691-4,321 3 Subtotal (1+2) 106, ,536-42, , ,183-2, , ,339-23, ,940 76,552 35,388 4 Government Bonds etc. Government Bonds (over one year) 113,827 18,436 95, ,651 32,136 83, , ,014 10, ,004 15, , ,327 12,936 95, ,912 26,616 83, ,413 95,014 11, ,504 10, ,573 Borrowings 5,500 5, ,739 5, ,500 6, ,500 5, Treasury Discount Bills etc. Treasury Discount Bills Short Term Borrowings 297, ,044 50, , ,535 40, , ,557 35, , ,219 30, , ,544 50, , ,034 40, , ,057 35, , ,718 30,479 31,500 31, ,500 52, ,500 31, ,500 31, Subtotal (4+5) 411, , , , , , , ,571 46, , , ,553 7 Total (3+6) 517, , , , , , , ,910 22, , , ,941 8 Adjustments 4,139 3, ,897 3,745 2,152 8,039 8, ,583 3, Grand Total (7+8) 521, , , , , , , ,703 21, , , ,908 Redemption of T-Bills (TBs and FBs) held to maturity by the Bank of Japan 57,153 47,763 44,341 36,180 14

17 Trend of Receipts and Payments (100 million yen) Receipts 800, , , , , , , ,000 Payments General Account Special Accounts Government Bonds Treasury Discount Bills Trend of Balance (Grand Total) (100 million yen) 250, , , ,000 50, , ,

18 E. Official Reserve Assets (the End of the Month) (7 ruary 2018) 2016 (million US dollar) Official reserve assets 1,248,107 1,254,149 1,262,099 1,262,509 1,253,967 1,265,402 1,264,750 1,256,053 1,260,145 1,242,792 1,219,291 1,216,903 Foreign currency reserves 1,192,824 1,193,683 1,201,196 1,200,407 1,193,989 1,202,686 1,201,838 1,193,344 1,196,234 1,180,425 1,159,321 1,157,790 Securities 1,067,634 1,068,486 1,076,126 1,075,380 1,069,261 1,077,607 1,076,267 1,066,903 1,068,188 1,054,462 1,031,886 1,031,902 Deposits 125, , , , , , , , , , , ,888 IMF reserve position 8,369 12,470 12,495 12,393 12,267 12,370 12,068 12,026 12,706 12,645 12,274 12,019 SDRs 19,059 17,110 17,451 17,556 17,377 17,327 17,295 17,942 18,136 17,905 18,214 18,087 Gold 27,353 30,381 30,434 31,630 29,821 32,494 33,017 32,210 32,537 31,295 28,984 28,516 Other reserve assets Official reserve assets 1,231,573 1,232,340 1,230,330 1,242,295 1,251,868 1,249,847 1,260,040 1,268,006 1,266,310 1,260,925 1,261,242 1,264,283 Foreign currency reserves 1,170,803 1,170,660 1,168,909 1,180,046 1,189,360 1,188,139 1,197,552 1,204,226 1,203,236 1,198,464 1,198,933 1,202,071 Securities 1,043,826 1,042,763 1,042,952 1,052,925 1,061,544 1,062,210 1,074,963 1,081,532 1,080,790 1,076,041 1,076,384 1,079,459 Deposits 126, , , , , , , , , , , ,612 IMF reserve position 12,201 11,979 11,936 12,041 12,126 11,819 11,775 11,883 11,886 11,760 11,203 10,582 SDRs 18,233 18,310 18,350 18,542 18,715 18,810 19,005 19,100 19,099 18,930 19,078 19,195 Gold 29,837 30,891 30,626 31,157 31,151 30,562 31,185 32,272 31,567 31,249 31,496 31,897 Other reserve assets Official reserve assets 1,268,535 Foreign currency reserves 1,204,746 Securities 1,082,243 Deposits 122,503 IMF reserve position 10,511 SDRs 19,640 Gold 33,091 Other reserve assets 547 (Note) 1. Coverage of this template is the monetary authorities and other central government, excluding social security. 2. Current market exchange rates are used for valuation of non-us dollar denominated assets/liabilities. 3. Securities and gold reflect marked to market values. 4. Figures may not total due to rounding. Source : International Bureau (

19 Trend of Official Reserve Assets (million US dollar) 1,350,000 1,300,000 1,250,000 1,200, ,150,000 1,100,000 1,050,000 1,000, , Foreign currency reserves IMF reserve position SDRs Gold Other reserve assets

20 F. Balance of Payments (8 ruary 2018) ( 100 million yen ) (P) (P) (P) Current Account 11, ,940 29,805 19,557 16,776 9,288 23,680 23,941 22,593 21,764 13,473 7,972 Goods & Services 5,201-10,660 10,794 10,878 2, ,608 3,521 3,522 7,995 3,967 2,227 3,344 Goods 8,087-8,498 10,742 8,718 5,485-1,161 5,169 5,656 3,240 8,457 4,302 1,810 5,389 Exports 66,815 55,243 63,487 71,706 61,765 57,158 63,774 63,743 61,734 67,212 65,735 67,683 72,715 Imports 58,728 63,741 52,745 62,988 56,280 58,319 58,605 58,087 58,494 58,755 61,433 65,873 67,326 Services -2,886-2, ,160-2, , ,045 Primary income 6,841 12,708 19,869 22,250 18,484 19,347 5,112 21,696 22,391 16,689 19,405 13,298 6, Secondary income ,096-1,723-3,324-1,523-2, ,537-1,971-2,091-1,608-2,052-1,520 Capital Account , Financial Account 2,412-14,351 17,379 49,396 10,929 20,917 12,390 10,068 19,246 20,738-8,532 14,046 18,851 Direct investment Portfolio investment Financial derivatives (other than reserves) Other investment Reserve assets Net errors & omissions (Notes) 1. Totals may not add due to rounding. 2. "(P)" means Preliminary. 21,066 11,039 21,985 23,755 4,633 16,474 14,852 11,984 5,969 16,541 7,911 6,484 22,663-51,994-46,691-29,027 34,894-73,405 49,090 11,002 63,003-14, ,280-19,464-13,379 11,968 5,916 3,747 2,282-4,534 2, , ,623 5,142 5,914 8,170 22,075 4,398 16,156-7,694 81,153-50,499-12,285-69,078 24,536-3,304 1,022 22, ,986 4,519-3,841 3,083 3,169-1, ,941 6, ,372 1,776-8,632-15,066-11,442 19,906-8,596 5,388 3,247-13,466-4,681-1,812-30, ,065

21 Trend of Balance of Payments ( 100 million yen ) 120, ,000 80,000 60,000 40, , ,000-40,000-60, Goods & Services Primary income Secondary income Capital Account Financial Account Net errors & omissions

22 (Appendix table) Direct Investment Assets/Liabilities ( 100 million yen ) (P) (P) (P) Direct Investment Assets Execution 71,013 44,433 58,054 81,566 33,626 37,964 35,536 41,707 30,341 45,460 42,058 31,171 58,290 Withdrawal 49,293 33,469 33,894 55,314 25,688 20,049 20,049 29,044 21,996 30,046 32,269 22,739 30,744 Net 21,720 10,964 24,160 26,252 7,937 17,915 15,487 12,664 8,345 15,413 9,789 8,432 27,546 Equity other than Execution 15,505 6,367 19,887 29,296 9,416 9,197 6,672 9,537 5,807 13,379 15,847 4,817 19,645 reinvestment of Withdrawal 4,321 1,270 2,000 11,653 3,765 1,507 2,262 2,351 5, ,048 1,370 5,272 earnings Net 11,183 5,098 17,886 17,643 5,651 7,690 4,410 7, ,401 5,799 3,447 14,373 Reinvestment of Execution 4,653 4,654 4,639 4,633 4,634 4,632 4,797 4,813 4,814 5,842 5,841 5,843 5,869 earnings Withdrawal Net 4,653 4,654 4,639 4,633 4,634 4,632 4,797 4,813 4,814 5,842 5,841 5,843 5,869 Debt instruments Execution 50,855 33,411 33,529 47,637 19,575 24,134 24,067 27,357 19,720 26,238 20,369 20,511 32,776 Withdrawal 44,971 32,200 31,894 43,661 21,923 18,542 17,787 26,692 16,957 29,068 22,221 21,369 25,472 Net 5,884 1,212 1,635 3,976-2,348 5,592 6, ,763-2,830-1, ,304 Direct Investment Execution 25,574 27,364 32,791 32,719 35,675 36,846 38,208 42,794 36,312 33,827 36,077 34,026 36,666 liabilities Withdrawal 24,920 27,440 30,615 30,222 32,371 35,405 37,574 42,115 33,936 34,954 34,199 32,077 31,784 Net ,176 2,497 3,305 1, ,376-1,128 1,878 1,949 4,883 Equity other than Execution 1,641 1,940 1,632 2,425 2,258 4, , , ,385 reinvestment of Withdrawal 3,847 1, ,325 1,848 5,341 1, ,662 1,004 2,300 earnings Net -2, , ,126-1, ,085 Reinvestment of Execution 1,131 1,138 1,170 1,204 1,222 1,221 1,473 1,476 1,464 1,586 1,582 1,608 1,607 earnings Withdrawal Net 1,131 1,138 1,170 1,204 1,222 1,221 1,473 1,476 1,464 1,586 1,582 1,608 1,607 Debt instruments Execution 22,803 24,285 29,989 29,090 32,195 31,410 36,173 40,230 34,127 31,507 32,137 31,439 31,674 Withdrawal 21,074 26,148 30,280 27,897 30,522 30,064 35,852 41,752 33,132 34,403 31,537 31,073 29,484 Net 1,729-1, ,193 1,673 1, , , ,191 (Notes) 1. Reinvestment of earnings are recorded under "Execution". Negative figures are recorded when retained earnings decrease. 2. "(P)" means Preliminary.

23 2. Portfolio Investment Assets/Liabilities ( 100 million yen ) (P) (P) (P) Portfolio Investment Assets -26,247-4,286-16,237-10,319-32,846 42,726 24,103 59,261 24,263 6,516-1,555 9,792 10,064 Equity and investment Acquisition 43,209 40,211 48,325 56,513 46,707 55,929 57,135 50,437 54,884 52,755 53,852 58,328 48,508 fund shares Disposition 46,866 32,273 41,703 65,566 41,029 42,023 44,735 39,810 39,467 47,070 41,559 41,448 35,116 Net -3,657 7,939 6,622-9,053 5,678 13,906 12,400 10,627 15,417 5,685 12,293 16,880 13,392 Long-term Acquisition 255, , , , , , , , , , , , ,792 debt securities Disposition 276, , , , , , , , , , , , ,667 Net -21,136-12,420-22,550-2,951-41,923 31,319 12,972 46,879 6, ,706-6,840-2,874 Short-term Acquisition 9,788 13,200 17,590 43,924 40,914 49,499 48,579 50,343 52,762 56,010 45,879 54,286 43,749 debt securities Disposition 11,241 13,004 17,898 42,239 37,514 51,997 49,849 48,588 49,920 54,293 45,022 54,534 44,203 Net -1, ,685 3,400-2,498-1,269 1,755 2,842 1, Portfolio Investment Liabilities 25,747 42,405 12,790-45,213 40,560-6,364 13,101-3,742 38,447 6,788 20,724 29,256 23,443 Equity and investment Acquisition 445, , , , , , , , , , , , ,515 fund shares Disposition 439, , , , , , , , , , , , ,920 Net 6, ,047-16,287 14,972 6,982 2,956 6,566-10,630-13,214 34,613-4, Long-term Acquisition 83,020 88,827 80,307 91,253 75,661 63,374 71,650 80,641 70, ,758 57,964 82,350 69,834 debt securities Disposition 87,708 68,700 68, ,563 63,600 48,220 78,951 63,983 46,230 88,619 53,518 70,937 72,117 Net -4,687 20,127 11,677-10,310 12,061 15,155-7,301 16,658 24,078 13,138 4,446 11,412-2,282 Short-term Acquisition 194, , , , , , , , , , , , ,447 debt securities Disposition 170, , , , , , , , , , , , ,317 Net 24,217 23,061 3,160-18,616 13,527-28,501 17,445-26,966 24,999 6,863-18,334 21,882 26,131 (Notes) 1. Totals may not add due to rounding. 2. "(P)" means Preliminary. Source : International Bureau (

24 G. International Transaction in Securities (Monthly; based on reports from designated major investors) (8 ruary 2018) Portfolio Investment Assets ( 100 million yen ) Equity and investment fund shares Acquisition Disposition 34,306 42,173 49,743 42,210 50,852 52,178 46,155 46,173 47,972 47,850 52,417 43,431 52,845 29,112 38,035 56,650 36,269 38,694 40,800 34,519 35,594 37,733 37,827 37,990 31,889 40,208 Net 5,195 4,138-6,907 5,941 12,158 11,377 11,635 10,579 10,239 10,023 14,427 11,542 12,637 Acquisition 268, , , , , , , , , , , , ,372 Long-term debt Disposition 284, , , , , , , , , , , , ,485 securities Net -16,210-10, ,559 31,074 14,336 44,630 7, , ,283 13,887 Subtotal Net (A) -11,015-6,535-6,517-36,617 43,233 25,714 56,265 18,032 9,440-4,311 13,617 10,259 26,524 Acquisition 12,867 16,822 41,444 38,802 48,558 47,297 50,080 51,823 53,773 44,764 53,384 41,872 51,301 Short-term debt Disposition 11,941 16,675 40,398 36,323 50,195 47,988 47,564 49,592 53,832 43,797 53,415 43,128 49,700 securities Net ,046 2,479-1, ,516 2, ,257 1,600 Total (C) -10,089-6,388-5,471-34,139 41,595 25,023 58,781 20,262 9,382-3,344 13,586 9,003 28, Portfolio Investment Liabilities Equity and Acquisition investment fund Disposition shares 373, , , , , , , , , , , , , , , , , , , , , , , , , ,576 Net -1,192-2,321-16,872 15,046 6, ,913-10,800-15,788 34,288-4,226-6,098 6,682 Acquisition 78,844 68,691 75,967 71,115 61,540 61,157 55,325 67,803 76,064 48,247 73,831 64,846 59,646 Long-term debt Disposition 62,003 64,335 89,995 60,548 45,103 75,815 53,478 44,532 79,800 48,545 68,279 68,858 69,495 securities Net 16,841 4,357-14,028 10,567 16,437-14,658 1,847 23,271-3, ,552-4,012-9,849 Subtotal Net (B) 15,649 2,035-30,900 25,613 23,317-13,972 7,760 12,472-19,524 33,990 1,325-10,110-3,167 Acquisition 164, , , , , , , , , , , , ,832 Short-term debt Disposition 139, , , , , , , , , , , , ,606 securities Net 24,541 4,179-17,702 13,496-29,804 14,822-26,457 25,137 4,602-18,692 19,855 24,837-11,774 Total (D) 40,191 6,215-48,602 39,110-6, ,698 37,609-14,922 15,298 21,180 14,727-14,942 Subtotal Net (A) - (B) -26,664-8,570 24,384-62,231 19,916 39,686 48,505 5,560 28,964-38,301 12,292 20,369 29,691 Total Net (C) - (D) -50,279-12,602 43,132-73,249 48,083 24,173 77,479-17,347 24,303-18,642-7,594-5,724 43,066 (Notes) 1. Totals may not add due to rounding. 2. International Transactions in Securities show net aquisition with a plus sign(+) and net disposition with a minus sign(-). 3. "Designated Major Investors indicate banks, financial instruments firms, insurance companies, investment trust management companies and asset management companies, etc. that were designated by the Minister of Finance in accordance with Article 21 of the Ministerial Ordinance Concerning Report on Foreign Exchange transactions, etc. Source : International Bureau (

25 Trend of International Transaction in Securities ( 100 million yen ) 150, ,000 50, , , Portfolio Investment Assets Portfolio Investment Liabilities

26 H. The balance of Offshore Accounts (16 ruary 2018) 1. End of ember 2017 Assets (100 million yen, %) Liabilities (100 million yen, %) Total balance Denominated in Denominated in Total balance Denominated in Denominated in Foreign Currency yen Foreign Currency yen To non- To non- To non- To non- To non- To nonresidents residents residents residents residents residents Deposits /Call Loans 24,422 18,923 19,819 15,260 4,603 3,663 Deposits/ Call Money 66,428 60,794 59,260 54,662 7,168 6,132 Securities 276, , , ,527 2,837 2,837 Securities Loans 34,257 34,122 32,466 32,331 1,791 1,791 Borrowed Money 44,316 44,202 23,649 23,565 20,667 20,637 Inter-Office Accounts 524, , , , , ,137 Inter-Office Accounts 110, , , , Total 860, , , , , ,429 Total 222, , , ,521 28,129 27,062 Monthly change(%) Monthly change(%) (Notes) Figures are not rounded out Revised data (Monthly) (100 million Yen) (P) Assets 962, , , , , , , , , , , , ,329 To non-residents 954, , , , , , , , , , , , ,665 Denominated in Foreign Currency 829, , , , , , , , , , , , ,960 To non-residents 824, , , , , , , , , , , , ,236 Denominated in yen 132, , , , , , , , , , , , ,369 To non-residents 130, , , , , , , , , , , , ,429 Liabilities 276, , , , , , , , , , , , ,338 To non-residents 268, , , , , , , , , , , , ,583 Denominated in Foreign Currency 244, , , , , , , , , , , , ,209 To non-residents 238, , , , , , , , , , , , ,521 Denominated in yen 31,770 30,195 27,634 31,507 28,746 29,504 30,062 30,824 29,489 28,651 27,135 27,697 28,129 To non-residents 29,374 27,904 25,343 29,266 26,575 27,393 28,369 28,713 27,278 27,540 25,554 25,916 27,062 (Notes) Figures are not rounded out. Source : International Bureau (

27 Trend of the balance of Offshore Accounts (100 million yen) Assets 1,200,000 1,000, , , , , , ,000 Liabilities Assets:Denominated in Foreign Currency Assets:Denominated in yen Liabilities:Denominated in Foreign Currency Liabilities:Denominated in yen

28 I. Central Government Debt (the End of the Month) (9 ruary 2017) 1. Outstanding Government Bonds and Borrowings (100 million yen) Government Bonds 9,289,145 9,349,002 9,452,315 9,499,986 9,562,520 General Bonds 8,263,734 8,305,733 8,372,501 8,455,411 8,513,398 Long-term (10 years or more) 6,027,888 6,108,230 6,195,439 6,262,661 6,361,024 Medium-term (from 2 to 5 years) 1,894,076 1,867,764 1,856,318 1,885,284 1,868,435 Short-term (one year or less) 341, , , , ,939 Fiscal Investment and Loan Program Bonds 941, , , , ,584 Long-term (10 years or more) 588, , , , ,914 Medium-term (from 2 to 5 years) 352, , , , ,671 Subsidy Bonds 1,855 2,094 1,800 1,875 1,887 Subscription / Contribution Bonds 47,265 46,277 45,025 44,671 45,900 Government Bonds issued to Development Bank of Japan Government Bonds issued to Nuclear Damage Liability Facilitation Fund 13,247 13,247 13,247 13,247 13,247 21,820 19,142 61,656 60,287 59,503 Borrowings 542, , , , ,128 Long-term (over one year) 143, , , , ,611 Short-term (one year or less) 398, , , , ,516 Financing Bills 832, , , , ,890 Total 10,664,234 10,715,594 10,789,664 10,804,405 10,857, Outstanding Government Guaranteed Debts Government Guaranteed Debts 409, , , , ,690 (Source) Financial Bureau ( (Notes) 1. Figures do not sum up to total because of rounding. 2. Above "Outstanding Government Bonds and Borrowings" contains government bonds and borroeings heid by government. 26

29 Trend of Central Government Debt 12,000,000 (100 million yen) 10,000,000 8,000,000 6,000,000 4,000,000 2,000, Government Bonds Borrowings Financing Bills 27

30 PUBLIC RELATIONS & PRESS RELEASE

31 A. New Tax Convention with Spain Agreed in Principle ruary 21, 2018 Ministry of Finance 1. The Government of Japan and the Government of the Kingdom of Spain have agreed in principle on the new Convention replacing the existing Tax Convention (the Convention between Japan and the Spanish State for the Avoidance of Double Taxation with respect to Taxes on Income), which entered into force in The new Convention will reinforce or introduce provisions for clarifying the scope of taxation in the two countries, eliminating international double taxation and preventing tax evasion and avoidance and is expected to promote further mutual investments and economic exchanges between the two countries. 3. The new Convention will be signed after the necessary internal procedures have been completed by each of the two Governments. Thereafter, the new Convention will enter into force after the completion of the approval process in both countries (in the case of Japan, approval by the Diet is necessary). 30

32 B. Designs of The Olympic and Paralympic Games Tokyo 2020 Commemorative Coin Program (First Issue) ruary 23, 2018 Ministry of Finance The Ministry of Finance has decided to issue approx. 30 types of coins commemorating the Olympic and Paralympic Games Tokyo 2020 in four series before the opening of the Tokyo 2020 Games. For the first issue, the designs were decided as follows for a 10,000-yen premium-grade gold coin, two types of 1,000- yen premium-grade silver coin, and two types of 100-yen clad coin. They will be issued as outlined in the Attachment Event Olympic Games Tokyo 2020 Type 10,000-yen gold coin 1,000-yen silver coin 100-yen clad coin Design (Obverse) Yabusame (horseback archery) and kanji characters " " Aquatics Fencing Design (Reverse) Official emblem of Olympic Games Tokyo 2020 Official emblem of Olympic Games Tokyo 2020, cherry blossoms, and ginkgo leaves Official emblem of Olympic Games Tokyo

33 Event Tokyo 2020 Paralympic Games Type 10,000-yen gold coin 1,000-yen silver coin 100-yen clad coin Design (Obverse) (Not issued this time) Judo Boccia Design (Reverse) Official emblem of Tokyo 2020 Paralympic Games, cherry blossoms, and ginkgo leaves Official emblem of Tokyo 2020 Paralympic Games (Note 1) The diameters are 26 mm for the 10,000-yen gold coin, 40 mm for the 1,000-yen silver coins, and 22.6 mm for the 100-yen clad coins. (Note 2) Clad coins refer to the coins with a metal layer sandwiched by the different types of metal plates by using the clad technology. (Note 3) See References 1 to 5 for the details of the designs. (Attachment) Outline of the 10,000-yen Gold Coin, 1,000-yen Silver Coins and 100-yen Clad Coins 32

Financial Results for the Fiscal Year Ended March 31, 2018 [J-GAAP]

Financial Results for the Fiscal Year Ended March 31, 2018 [J-GAAP] Company Name: Stock exchange listed on: Financial Results for the Fiscal Year Ended March 31, 2018 [J-GAAP] Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange (First Section) May 11, 2018 Company

More information

Statistics List (Balance of Payments)

Statistics List (Balance of Payments) Category of Statistics Name of Statistics [Database Name] Name of Items Balance of Payments Balance of Payments [BP01] Balance of Payments (Data Based on the BPM6) Balance of Payments Goods & services

More information

Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2019 [J-GAAP] (Consolidated)

Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2019 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2019 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated)

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated)

Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Japan's Balance of Payments Statistics and International Investment Position for 2016

Japan's Balance of Payments Statistics and International Investment Position for 2016 Japan's Balance of Payments Statistics and International Investment Position for 16 July 17 International Department Bank of Japan Japan's balance of payments statistics for 16 -- the annually revised

More information

Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated)

Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Gold demand statistics

Gold demand statistics Gold demand statistics Table 2: Gold demand (tonnes) 2014 2015 Q2 14 Q3 14 Q4 14 Q2 15 Q3 15 Q4 15 Jewellery 2,482.0 2,397.5 589.5 591.5 686.0 596.9 513.7 623.7 663.2 481.9-19 Technology 348.5 333.8 86.6

More information

Appendix 1. Outline of BOP-Related Statistics and Release Schedule. The following is an overview of major BOP-related statistics.

Appendix 1. Outline of BOP-Related Statistics and Release Schedule. The following is an overview of major BOP-related statistics. Appendix 1. Outline of BOP-Related Statistics and Release Schedule Outline of BOP-related statistics BOP-related statistics can be broadly divided into (1) flow data on various transactions and the associated

More information

Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated)

Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Report on Finnish Technology Industry Exports

Report on Finnish Technology Industry Exports Report on Finnish Technology Industry Exports Last observation October 2018, 2.1.2019 Goods Export of Technology Industry from Finland Goods Export of Technology Industry from Finland by Branches Source:

More information

Global Economic Briefing: Global Liquidity

Global Economic Briefing: Global Liquidity Global Economic Briefing: Global Liquidity December 21, 217 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at

More information

Guide to Treatment of Withholding Tax Rates. January 2018

Guide to Treatment of Withholding Tax Rates. January 2018 Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep

More information

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated)

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2019(Japan GAAP)

Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2019(Japan GAAP) Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2019(Japan GAAP) November 9, 2018 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.

More information

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2016 [J-GAAP] (Consolidated)

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2016 [J-GAAP] (Consolidated) Company Name: Stock exchange listed on: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2016 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange

More information

Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP)

Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP) Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP) November 10, 2017 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha,

More information

Overview. Tax and Stamp Revenues. Amount determined for collection. Amount carried forward from the previous fiscal year, etc.

Overview. Tax and Stamp Revenues. Amount determined for collection. Amount carried forward from the previous fiscal year, etc. Survey of the of Tax and Stamp Revenues Type Withholding tax Self-assessment tax Income tax Subtotal Corpon tax Inheritance tax Land value tax Consumption tax Overview Consumption tax and local consumption

More information

The Capital Requirements (Country-by-Country Reporting) Regulations December 2017

The Capital Requirements (Country-by-Country Reporting) Regulations December 2017 HSBC Holdings plc The Capital Requirements (Country-by-Country Reporting) Regulations 2013 31 December 2017 This report has been prepared for HSBC Holdings plc and its subsidiaries (the HSBC Group ) to

More information

Trade trends and trade policy developments. Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit

Trade trends and trade policy developments. Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit Trade trends and trade policy developments Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit The big picture UK earnings from exports of goods exceeded earnings from exports of

More information

Net sales Operating income Ordinary income. Net income per Net income per share Return on equity share after full dilution

Net sales Operating income Ordinary income. Net income per Net income per share Return on equity share after full dilution Summary of Consolidated Financial Statements for Fiscal Year Ended March 31, 2018 (Japan GAAP) June 2, 2018 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd. Code: 4028 URL http://www.iskweb.co.jp

More information

Methodology Calculating the insurance gap

Methodology Calculating the insurance gap Methodology Calculating the insurance gap Insurance penetration Methodology 3 Insurance Insurance Penetration Rank Rank Rank penetration penetration difference 2018 2012 change 2018 report 2012 report

More information

New in 2013: Greater emphasis on capital flows Refinements to EBA methodology Individual country assessments

New in 2013: Greater emphasis on capital flows Refinements to EBA methodology Individual country assessments As in 212: Stock-take: multilaterally consistent assessment of external sector policies of the largest economies Feeds into Article IVs Draws on External Balance Assessment (EBA) methodology/other Identifies

More information

H S B C H O L D I N G S P L C HSBC HOLDINGS PLC THE CAPITAL REQUIREMENTS. (Country-by-Country Reporting) REGULATION 2013

H S B C H O L D I N G S P L C HSBC HOLDINGS PLC THE CAPITAL REQUIREMENTS. (Country-by-Country Reporting) REGULATION 2013 HSBC HOLDINGS PLC THE CAPITAL REQUIREMENTS (Country-by-Country Reporting) REGULATION 2013 31 December 2015 This report has been prepared for HSBC Holdings plc and its subsidiaries (the HSBC Group ) to

More information

Exchange Traded Funds (ETFs): The New Packaged Product of Choice

Exchange Traded Funds (ETFs): The New Packaged Product of Choice Financial Institutions Profiles Series Exchange Traded Funds (ETFs): The New Packaged Product of Choice (Table of Contents) April 20, 2017 TABLE OF CONTENTS Evolution of the Exchange Traded Funds (ETFs)

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 27 November 2017 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

EQUITY REPORTING & WITHHOLDING. Updated May 2016

EQUITY REPORTING & WITHHOLDING. Updated May 2016 EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the

More information

Japan's International Investment Position at Year-End 2009

Japan's International Investment Position at Year-End 2009 Japan's at Year-End 2009 September 2010 International Department Bank of Japan This is an English translation of the Japanese original released on May 25, 2010 Japan's international investment position

More information

Best Treasury & Cash Management Providers 2017

Best Treasury & Cash Management Providers 2017 Page 1 of 5 In March 2017, Global Finance will publish its selections for the Seventeenth Annual World s Best Treasury & Cash Management Providers. Global Finance will select the best overall global cash

More information

Financial wealth of private households worldwide

Financial wealth of private households worldwide Economic Research Financial wealth of private households worldwide Munich, October 217 Recovery in turbulent times Assets and liabilities of private households worldwide in EUR trillion and annualrate

More information

STATISTICS Last update: 03/07/2017

STATISTICS Last update: 03/07/2017 STATISTICS 2012-2016 Last update: 03/07/2017 BU NEWS BUSINESS [USD, BILLIONS] New business by year, vs. total world exports 3,000 2,500 2,000 1,500 1,000 500 12,131 1,138 40 127 971 14,023 1,323 53 143

More information

FEES SCHEDULE (COPPER / GOLD)

FEES SCHEDULE (COPPER / GOLD) FEES SCHEDULE (COPPER / GOLD) Applicable from April 208 excluding discretionary management agreement and investment advisory agreement CBP Quilvest LU EN Fees Schedule Excluding Management April 208 /5

More information

DOMESTIC CUSTODY & TRADING SERVICES

DOMESTIC CUSTODY & TRADING SERVICES Pricing Structure DOMESTIC CUSTODY & TRADING SERVICES A flat custody fee of 20bps per account type per year is applicable to all holdings and cash, the custody fee is collected each month but will be capped

More information

Foreign Direct Investment in the United States. Organization for International Investment

Foreign Direct Investment in the United States. Organization for International Investment Foreign Direct Investment in the United States Organization for International Investment March 16, 2011 FOREIGN DIRECT INVESTMENT IN THE UNITED STATES Key Findings Foreign Direct Investment in the United

More information

A short history of debt

A short history of debt A short history of debt In the words of the late Charles Kindleberger, debt/financial crises are a hardy perennial we have been here many times before. Over the past decade and a half the ratio of global

More information

COUNTRY COST INDEX JUNE 2013

COUNTRY COST INDEX JUNE 2013 COUNTRY COST INDEX JUNE 2013 June 2013 Kissell Research Group, LLC 1010 Northern Blvd., Suite 208 Great Neck, NY 11021 www.kissellresearch.com Kissell Research Group Country Cost Index - June 2013 2 Executive

More information

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP)

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP) Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP) August 10, 2017 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.

More information

EXPORT PERFORMANCE MONITOR

EXPORT PERFORMANCE MONITOR Export Performance Monitor Statistics department, EEPC Head Office Exports growing steadily According to the provisional data available from DGCI&S up to September 2007, Exports during September, 2007

More information

An FSE Listings Inc Article FSE Listings Inc- Frankfurt Stock Exchange Listings

An FSE Listings Inc Article FSE Listings Inc- Frankfurt Stock Exchange Listings FSE Listings How To Prepare Yourself For Listing On The Frankfurt Stock Exchange Author: Mark Bragg An FSE Listings Inc Article FSE Listings Inc- Frankfurt Stock Exchange Listings List your firm fast with

More information

Double Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%)

Double Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%) Double Tax Treaties DTA Country Withholding Tax Rates (%) Albania 0 0 5/10 1 No No No Armenia 5/10 9 0 5/10 1 Yes 2 No Yes Australia 10 0 15 No No No Austria 0 0 10 No No No Azerbaijan 8 0 8 Yes No Yes

More information

A. Definitions and sources of data

A. Definitions and sources of data Poland A. Definitions and sources of data Data on foreign direct investment (FDI) in Poland are reported by the National Bank of Poland (NBP), the Polish Agency for Foreign Investment (PAIZ) and the Central

More information

World s Best Investment Bank Awards 2018

World s Best Investment Bank Awards 2018 Global Finance will publish its selections for the 19th Annual World s Best Investment Banks in the April 2018 issue. Winners will be honored at an awards ceremony in New York City in March, and all award

More information

Global Economic Indictors: CRB Raw Industrials & Global Economy

Global Economic Indictors: CRB Raw Industrials & Global Economy Global Economic Indictors: & Global Economy December 14, 2017 Dr. Edward Yardeni 516-972-7683 eyardeni@ Mali Quintana 480-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box

More information

Marine. Global Programmes. cunninghamlindsey.com. A Cunningham Lindsey service

Marine. Global Programmes. cunninghamlindsey.com. A Cunningham Lindsey service Marine Global Programmes A Cunningham Lindsey service Marine global presence Marine Global Programmes Cunningham Lindsey approach Managing your needs With 160 marine surveyors and claims managers in 36

More information

International Monetary Fund Washington, D.C.

International Monetary Fund Washington, D.C. 2005 International Monetary Fund September 2005 IMF Country Report No. 05/357 Brunei Darussalam: Statistical Appendix This Statistical Appendix paper for Brunei Darussalam was prepared by a staff team

More information

26 MAY Boustead Singapore Limited / Boustead Projects Limited Joint FY2015 Financial Results Presentation

26 MAY Boustead Singapore Limited / Boustead Projects Limited Joint FY2015 Financial Results Presentation 26 MAY 2015 Boustead Singapore Limited / Boustead Projects Limited Joint FY2015 Financial Results Presentation Disclaimer This presentation contains certain statements that are not statements of historical

More information

Key Issues in the Design of Capital Gains Tax Regimes: Taxing Non- Residents. 18 July 2014

Key Issues in the Design of Capital Gains Tax Regimes: Taxing Non- Residents. 18 July 2014 Key Issues in the Design of Capital Gains Tax Regimes: Taxing Non- Residents 18 July 2014 How do we tax non-residents on capital income? Domestic design issues Tax treaty issues Interrelationship between

More information

As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar.

As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar. 1. (1) Consolidated Balance Sheet / Assets (Millions of yen) 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Cash and deposits 151,788 132,030 121,846 120,349

More information

India s International Trade & Investment

India s International Trade & Investment India s International Trade & Investment July 2017 1 Structure of Presentation 1 Indian Economy: A Snapshot 2 Merchandise Trade: A Perspective 3 Services Trade: Recent Trends 4 India s Investment Flows

More information

The effects of the financial crisis on developing countries mapping out the issues. By Julian Jessop

The effects of the financial crisis on developing countries mapping out the issues. By Julian Jessop The effects of the financial crisis on developing countries mapping out the issues By Julian Jessop 1. Plan of My Talk The outlook for advanced economies. Impact on developing countries. Some losers and

More information

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2019(Japan GAAP)

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2019(Japan GAAP) Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2019(Japan GAAP) August 10, 2018 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.

More information

Updated Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2016(Japan GAAP)

Updated Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2016(Japan GAAP) Updated Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2016(Japan GAAP) August 10, 2015 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha,

More information

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2017(Japan GAAP)

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2017(Japan GAAP) Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2017(Japan GAAP) August 10, 2016 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.

More information

Updated Summary of Consolidated Financial Statements for Third Quarter of Fiscal Year Ending March 31, 2017(Japan GAAP)

Updated Summary of Consolidated Financial Statements for Third Quarter of Fiscal Year Ending March 31, 2017(Japan GAAP) Updated Summary of Consolidated Financial Statements for Third Quarter of Fiscal Year Ending March 31, 2017(Japan GAAP) February 10, 2017 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha,

More information

Financial Results for the First Quarter Ended June 30, 2015

Financial Results for the First Quarter Ended June 30, 2015 July 29, 2015 Company name : Nissan Motor Co., Ltd. Code no : 7201 (URL http://www.nissan-global.com/en/ir/) Representative : Carlos Ghosn, President Contact person : Joji

More information

MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA COPY REGULATION OF THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA NUMBER 157/PMK.

MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA COPY REGULATION OF THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA NUMBER 157/PMK. COPY REGULATION OF THE MINISTER OF FINANCE NUMBER 157/PMK.010/2015 REGARDING IMPLEMENTATION OF INCOME TAX TREATMENT BASED ON THE PROVISIONS OF INTERNATIONAL TREATY BY THE GRACE OF GOD ALMIGHTY THE MINISTER

More information

Review of the Economy. E.1 Global trends. January 2014

Review of the Economy. E.1 Global trends. January 2014 Export performance was robust during the third quarter, partly on account of the sharp depreciation in the exchange rate of the rupee and partly on account of a modest recovery in major advanced economies.

More information

All-Country Equity Allocator February 2018

All-Country Equity Allocator February 2018 Leila Heckman, Ph.D. lheckman@dcmadvisors.com 917-386-6261 John Mullin, Ph.D. jmullin@dcmadvisors.com 917-386-6262 Charles Waters cwaters@dcmadvisors.com 917-386-6264 All-Country Equity Allocator February

More information

Table 1: Foreign exchange turnover: Summary of surveys Billions of U.S. dollars. Number of business days

Table 1: Foreign exchange turnover: Summary of surveys Billions of U.S. dollars. Number of business days Table 1: Foreign exchange turnover: Summary of surveys Billions of U.S. dollars Total turnover Number of business days Average daily turnover change 1983 103.2 20 5.2 1986 191.2 20 9.6 84.6 1989 299.9

More information

FEES SCHEDULE (SILVER/PLATINUM)

FEES SCHEDULE (SILVER/PLATINUM) FEES SCHEDULE (SILVER/PLATINUM) Applicable from April 208 under an Investment Advisory Agreement CBP Quilvest LU EN Investment Advisory Fees Schedule April 208 /5 ADVISORY MANAGEMENT, CUSTODY FEES AND

More information

San Francisco Retiree Health Care Trust Fund Education Materials on Public Equity

San Francisco Retiree Health Care Trust Fund Education Materials on Public Equity M E K E T A I N V E S T M E N T G R O U P 5796 ARMADA DRIVE SUITE 110 CARLSBAD CA 92008 760 795 3450 fax 760 795 3445 www.meketagroup.com The Global Equity Opportunity Set MSCI All Country World 1 Index

More information

Foreign Exchange Reserves in India

Foreign Exchange Reserves in India Year (as at end- SDRs## Foreign Exchange Reserves in India (1950-1951 to 2013-2014) Gold* Foreign Currency Assets* Rs. In Reserve Tranche Position (RTP) Total Reserve 1983-84 248 230 226 320 5,498 5,099

More information

Supplemental Table I. WTO impact by industry

Supplemental Table I. WTO impact by industry Supplemental Table I. WTO impact by industry This table presents the influence of WTO accessions on each three-digit NAICS code based industry for the manufacturing sector. The WTO impact is estimated

More information

Economic Stimulus Packages and Steel: A Summary

Economic Stimulus Packages and Steel: A Summary Economic Stimulus Packages and Steel: A Summary Steel Committee Meeting 8-9 June 2009 Sources of information on stimulus packages Questionnaire to Steel Committee members, full participants and observers

More information

BIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 2018)

BIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 2018) FOR RELEASE 8:5 A.M. September 14, 218 BIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 218) I. BIS International Locational Banking

More information

26 MAY Boustead Singapore Limited FY2010 Financial Results Presentation

26 MAY Boustead Singapore Limited FY2010 Financial Results Presentation 26 MAY 2010 Boustead Singapore Limited FY2010 Financial Results Presentation Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking

More information

2018 CAPITAL GAINS DISTRIBUTION ESTIMATES

2018 CAPITAL GAINS DISTRIBUTION ESTIMATES 2018 CAPITAL GAINS DISTRIBUTION ESTIMATES Estimated amounts of upcoming capital gain distributions are shown below. Estimated distributions can change prior to the record date depending on current market

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 5/4/2016 Imports by Volume (Gallons per Country) YTD YTD Country 03/2015 03/2016 % Change 2015 2016 % Change MEXICO 53,821,885 60,813,992 13.0 % 143,313,133 167,568,280 16.9 % NETHERLANDS 11,031,990 12,362,256

More information

UK trade in goods statistics by business characteristics 2015

UK trade in goods statistics by business characteristics 2015 Coverage: United Kingdom Theme: Business and Energy Released: 24 November 2016 UK trade in goods statistics by business characteristics 2015 Experimental Official Statistics Media contact: HMRC Press Office

More information

All-Country Equity Allocator July 2018

All-Country Equity Allocator July 2018 Leila Heckman, Ph.D. lheckman@dcmadvisors.com 917-386-6261 John Mullin, Ph.D. jmullin@dcmadvisors.com 917-386-6262 Allison Hay ahay@dcmadvisors.com 917-386-6264 All-Country Equity Allocator July 2018 A

More information

Global solutions. Local expertise.

Global solutions. Local expertise. Global solutions. Local expertise. Count on Sedgwick around the world Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. Our 21,000 colleagues,

More information

Market Briefing: Global Markets

Market Briefing: Global Markets Market Briefing: Global Markets July 6, 218 Dr. Edward Yardeni 516-972-7683 eyardeni@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at blog. thinking outside the box Table Of Contents Table

More information

STOXX EMERGING MARKETS INDICES. UNDERSTANDA RULES-BA EMERGING MARK TRANSPARENT SIMPLE

STOXX EMERGING MARKETS INDICES. UNDERSTANDA RULES-BA EMERGING MARK TRANSPARENT SIMPLE STOXX Limited STOXX EMERGING MARKETS INDICES. EMERGING MARK RULES-BA TRANSPARENT UNDERSTANDA SIMPLE MARKET CLASSIF INTRODUCTION. Many investors are seeking to embrace emerging market investments, because

More information

UK ECONOMY SITUATION & PROSPECTS

UK ECONOMY SITUATION & PROSPECTS UK ECONOMY SITUATION & PROSPECTS 26 November 2013 Hermione Gough Counsellor Europe and Global Issues British Embassy Paris UNCLASSIFIED 1 The pace of recovery picked up further in Q3, with UK GDP expanding

More information

The Bank of America Merrill Lynch Global Bond Index Rules. PIMCO Global Advantage Government Bond Index Fine Specifications

The Bank of America Merrill Lynch Global Bond Index Rules. PIMCO Global Advantage Government Bond Index Fine Specifications PIMCO Global Advantage Government Bond Index Fine Specifications July 2017 1 Index Overview The PIMCO Global Advantage Government Bond Index history starts on December 31, 2003. The index has a level of

More information

Division on Investment and Enterprise

Division on Investment and Enterprise Division on Investment and Enterprise Readers are encouraged to use the data in this publication for non-commercial purposes, provided acknowledgement is explicitly given to UNCTAD, together with the reference

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 6/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 04/2017 04/2018 % Change 2017 2018 % Change MEXICO 60,968,190 71,994,646 18.1 % 231,460,145 253,500,213 9.5 % NETHERLANDS 13,307,731 10,001,693

More information

Current Issues in International Tax Policy

Current Issues in International Tax Policy Current Issues in International Tax Policy Shigeto HIKI Director, International Tax Policy Division, Tax Bureau, Ministry of Finance, Japan The Fourth IMF-Japan High-Level Tax Conference For Asian Countries

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 3/7/2018 Imports by Volume (Gallons per Country) YTD YTD Country 01/2017 01/2018 % Change 2017 2018 % Change MEXICO 54,235,419 58,937,856 8.7 % 54,235,419 58,937,856 8.7 % NETHERLANDS 12,265,935 10,356,183

More information

SINGAPORE - FINAL LIST OF MFN EXEMPTIONS (For the Second Package of Commitments) Countries to which the measure applies

SINGAPORE - FINAL LIST OF MFN EXEMPTIONS (For the Second Package of Commitments) Countries to which the measure applies All Sectors: Presence of: - unskilled and semi-skilled natural persons - skilled persons (include craftsmen skilled in a particular trade, but exclude specialists/professio nal personnel at management

More information

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA)

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA) BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA) In the period January - April 2017 Bulgarian exports to the EU increased by 8.6% 2016 and amounted to 10 418.6 Million BGN

More information

DFA Global Equity Portfolio (Class F) Quarterly Performance Report Q2 2014

DFA Global Equity Portfolio (Class F) Quarterly Performance Report Q2 2014 DFA Global Equity Portfolio (Class F) Quarterly Performance Report Q2 2014 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds.

More information

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA)

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA) BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA) In the period January - May 2017 Bulgarian exports to the EU increased by 10.8% 2016 and added up to 13 283.0 Million BGN (Annex,

More information

As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar.

As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar As of Mar. 1. (1) Consolidated Balance Sheet / Assets (Millions of yen) 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Cash and deposits 120,349 110,081 90,576 79,119 88,837 85,903 66,352

More information

US Economic Indicators: Import Prices, PPI, & CPI

US Economic Indicators: Import Prices, PPI, & CPI US Economic Indicators: Import Prices, PPI, & CPI December 1, 17 Dr. Edward Yardeni 51-97-73 eyardeni@ Debbie Johnson --1333 djohnson@ Please visit our sites at blog. thinking outside the box Table Of

More information

DIVERSIFICATION. Diversification

DIVERSIFICATION. Diversification Diversification Helps you capture what global markets offer Reduces risks that have no expected return May prevent you from missing opportunity Smooths out some of the bumps Helps take the guesswork out

More information

GLOBAL FDI OUTFLOWS CONTINUED TO RISE IN 2011 DESPITE ECONOMIC UNCERTAINTIES; HOWEVER PROSPECTS REMAIN GUARDED HIGHLIGHTS

GLOBAL FDI OUTFLOWS CONTINUED TO RISE IN 2011 DESPITE ECONOMIC UNCERTAINTIES; HOWEVER PROSPECTS REMAIN GUARDED HIGHLIGHTS GLOBAL FDI OUTFLOWS CONTINUED TO RISE IN 211 DESPITE ECONOMIC UNCERTAINTIES; HOWEVER PROSPECTS REMAIN GUARDED No. 9 12 April 212 ADVANCE UNEDITED COPY HIGHLIGHTS Global foreign direct investment (FDI)

More information

Actuarial Supply & Demand. By i.e. muhanna. i.e. muhanna Page 1 of

Actuarial Supply & Demand. By i.e. muhanna. i.e. muhanna Page 1 of By i.e. muhanna i.e. muhanna Page 1 of 8 040506 Additional Perspectives Measuring actuarial supply and demand in terms of GDP is indeed a valid basis for setting the actuarial density of a country and

More information

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2014(Japan GAAP)

Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2014(Japan GAAP) Summary of Consolidated Financial Statements for First Quarter of Fiscal Year Ending March 31, 2014(Japan GAAP) August 12, 2013 Listed Exchanges: TSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.

More information

IFC / CWDI 2010 Report: Accelerating Board Diversity

IFC / CWDI 2010 Report: Accelerating Board Diversity IFC / CWDI 2010 Report: Accelerating Board Diversity Comparative Percentages of Women Directors -- Europe Country # of in Survey Percentage of with Women Directors Percent of Women Directors Norway 517

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2011 www.euromonitor.com iii Summary of Contents Contents Summary of Contents Section 1 Introduction 1 Section 2 Socio-economic parameters 21 Section 3 Annual

More information

DFA Global Equity Portfolio (Class F) Performance Report Q2 2017

DFA Global Equity Portfolio (Class F) Performance Report Q2 2017 DFA Global Equity Portfolio (Class F) Performance Report Q2 2017 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation

More information

DFA Global Equity Portfolio (Class F) Performance Report Q3 2018

DFA Global Equity Portfolio (Class F) Performance Report Q3 2018 DFA Global Equity Portfolio (Class F) Performance Report Q3 2018 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation

More information

DFA Global Equity Portfolio (Class F) Performance Report Q4 2017

DFA Global Equity Portfolio (Class F) Performance Report Q4 2017 DFA Global Equity Portfolio (Class F) Performance Report Q4 2017 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation

More information

Balanced Select Portfolio Pn

Balanced Select Portfolio Pn Factsheet as at : September 22, 2018 Balanced Select Portfolio Pn Fund objective This portfolio aims to provide long-term capital growth while keeping risk in a target volatility range of 8-10% over a

More information

VEDP QUARTERLY ECONOMIC UPDATE

VEDP QUARTERLY ECONOMIC UPDATE VEDP QUARTERLY ECONOMIC UPDATE September 2016 VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP YESVIRGINIA.ORG 1 US ECONOMIC OUTLOOK 1 8% - Source: Consensus Forecasts, September 2016 2 US WEEKLY INDICATORS 5%

More information

This statistical appendix presents data

This statistical appendix presents data STATISTICAL APPENDIX This statistical appendix presents data on financial developments in key financial centers and emerging markets. It is designed to complement the analysis in the text by providing

More information

International Statistical Release

International Statistical Release International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org) Worldwide Investment Fund Assets and Flows Trends in the

More information

DFA Global Equity Portfolio (Class F) Performance Report Q3 2015

DFA Global Equity Portfolio (Class F) Performance Report Q3 2015 DFA Global Equity Portfolio (Class F) Performance Report Q3 2015 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation

More information

China, People s Republic of

China, People s Republic of 1 POPULATION Total population as of 31 December (million) 1,267.4 1,276.3 1,284.5 1,292.3 1,299.9 1,307.6 1,314.5 1,321.3 1,328.0 1,334.5 1,340.9 1,347.4 1,354.0 1,360.7 1,367.8 1,374.6 1,382.7 1,390.1

More information