Thousands of Japanese packed a Tokyo shrine on Tuesday, the first working day of 2011, to pray for better luck and a rebound in the lagging economy just days after ushering in the Year of the Rabbit.

 

Some 70,000 people had visited Tokyo's Kanda Myoujin shrine, dedicated to several gods including the god of good fortune, to bow their heads and wish for a more prosperous year.

 

 

 

 

Business leaders of Japanese companies are worried about the prospects for their earnings in 2011 due to the surging yen, while expecting that they could focus on the growth of emerging market in China and India.

 

The business climate is unpredictable and amid the rising yen and the effects of the economic downtown, and the pace of recovery in consumption will likely remain slow this year. In the meantime Japanese companies expect they may get benefit from the growth of overseas markets and their eagerness to invest in such fast-growing markets as China and India.

 

Some of the companies say maybe it is a good opportunity to develop other markets in Asia. Japanese companies will decline unless they beat over global rivals in this fast-changing world.

 

 

 

 

IBM and Japan Airlines are breaking up an information alliance which was formed in 2001 by them.

 

IBM said the 10-year contract was worth $664 million for big blue when the deal was announced in 2001. And Japan Airlines, which is well-known as JAL, will acquire IBM’s stake in JAL Information Technology.

 

The deal will close in June. IBM Japan, a subsidiary, owns 51 percent of the joint venture, Nikkei reported. JAL has a stake of 41.5 percent. Nippon Information Industry Corp. owns the other 7.5 percent. Some 1,000 workers will become part of JAL.

 

 

 

 

Nomura Holdings Inc. is considering a plan to offer consulting services on the farming business in urban areas that could result, for example, in the construction of vegetable cultivation facilities.

 

Plans to be advanced by the nation's leading brokerage house likely will include urging local governments to make the best use of vacant lots where factories once stood. For instance, such lots would be used as sites to build facilities in which fresh vegetables would be grown.

 

Another plan would see Nomura cooperating with corporations possessing expertise to help export such vegetables to overseas markets.

 

Nomura Holdings hopes to translate these plans into action as early as the end of next year. By artificially controlling temperature and light in the cultivation facilities, the company plans to produce farm products efficiently. It also aims to improve technologies and study how to produce vegetables other than greens.

 

Nomura also hopes to expand job opportunities in local areas by including in its plans the production of high-value herbs for Chinese herbal medicines.

 

 

 

 

Showa Denko will strengthen its personal care products business by integrating sales and research functions.

 

The move affects three segments: materials for skin-care cosmetics; materials for curling agents; and medical-care-related materials, including those for medical equipment and base materials for pharmaceuticals.

 

The company plans to strengthen the sector by increasing the speed of product development through closer cooperation between sales, production and research units.