The group led by Tokyu, in response to the public bid by Kawasaki City, announced that they were selected as the winning bidder in the comprehensive evaluation general competitive bidding for the "Tokyu Rinkai Park redevelopment and operation project" on November 8.
The business is aimed at achieving the future vision of the new Todoroki Greenery, as outlined in the "Todoroki Greenery Reorganization and Implementation Plan" formulated and revised by Kawasaki City.
The group has been working towards winning the project, focusing on companies that operate businesses rooted in the region, have experience in operating public infrastructure, and have a track record in designing and constructing large-scale sports facilities. It is now planning to proceed with preparing for the conclusion of a basic agreement with Kawasaki City for the project's bid.
It states that the specific details of the project content will be disclosed appropriately in consideration of discussions with Kawasaki City.
■ Project Overview
Project Name:
Todoroki Greenery Reorganization and Operation Project, etc.
Location:
1 Todoroki, Nakahara-ku, Kawasaki-shi, Kanagawa and others
Site area:
43.5 hectares
Business content:
Development, operation and maintenance of public facilities and private facilities
Business period:
From April 2023 (scheduled) for 30 years
Main development contents:
① Development of public facilities
- Infrastructure construction of parks and plantations
- etc...

According to Tokyo Shoko Research's announcement on the 9th, the number of bankruptcies in October nationwide (with liabilities of 10 million yen or more) increased for the 7th consecutive month to 596, a 13.5% increase compared to the same month last year. Cases of bankruptcy due to the slow recovery of performance from the COVID-19 pandemic have increased. The high prices as a result of Russia's invasion of Ukraine have further exacerbated the situation.
The number of COVID-related bankruptcies increased by 42.8% to 230, setting a new record for the second consecutive month in terms of the highest monthly total. The total liabilities decreased by 11.6% to 86.995 billion yen. The decrease in large-scale bankruptcies of over 1 billion yen contributed to the decrease in the total amount.
By industry, the number of bankruptcies in food and beverage manufacturing increased significantly by about 3.6 times to 25, while the food and beverage retail trade increased by about 2.4 times to 31.
Author: Kyodo News
Last updated: 11/9 (Wed) 15:59

Chairman Powell stated in yesterday's press conference that he will conduct monetary tightening at a more deliberate and stronger pace, which is quite reliable unlike the insincere response from the Bank of Japan Governor.
Looking back at the past, countries around the world were hit by severe inflation around 1980, but at that time, Chairman Volcker of the FRB demonstrated his leadership as an inflation fighter and managed to control the runaway prices in the Western world economy. It is astonishing that around January 1981, the effective federal funds rate reached 19.1%.
It is appropriate to recognize that the global economy is reaching a turning point in a cycle that spans several decades. Although it is truly inappropriate, the Japanese government is likely planning to "shift the burden of fiscal resources required for inflation response, which cannot be resolved with a supplementary budget of tens of trillions of yen, to future generations of Japanese people as invisible debt."
Since the yen is becoming junk, it is better to consider investments in assets denominated in dollars, such as corporate bonds, government bonds, and money market ETFs, in addition to stocks.

Survey on “total profit margin” of 106 domestic banks
　The “total profit margin (median)” of the financial results for the fiscal year ending 2022/3 of 106 domestic banks was 0.16%, the same level as the previous year.
　However, the “fund management yield (median)” was 0.86% (0.94% the previous year), and the decline was unstoppable, down 0.08 points from the previous year, and strict fund management continues.
　The “fund management yield (median)” for the fiscal year ending 2022/3 was 0.86%, falling below 1.00% for 2 consecutive years for the fiscal year ending March 31. In 105 banks, excluding 1 bank that cannot be compared with the same period last year due to mergers, only 12 lines (composition ratio 11.4%) exceeded the previous year's fund management yield. Meanwhile, “fund raising costs (median)” shrank to 0.68% (0.77% the previous year), and 104 banks excluding the Shiga Bank fell below the previous year.
　“Total profit margin” indicates the difference between fund management yield and procurement yield. The number of “reversals,” where “fund management yield” falls below fund raising costs, is 6 lines, a decrease of 2 lines from bank 8 the previous year. “Backwards” were 2 banks each: a major bank (2 banks the previous year), a regional bank (same 4 banks), and a second regional bank (same 2 banks). It is the second year in a row that “backwards” falls below 10 lines in the March fiscal year, 2...

　The dollar exchange rate (likely value) of the dollar against the yen on the afternoon of the 31st is weakly in the latter half of the 1 dollar = 147 yen range due to a pause in the rise in long-term US interest rates due to overtime transactions leading to dollar sales. As of 3 p.m., 147 yen 91 to 91 yen is 83 yen higher and yen lower than the previous weekend (5 p.m., 147 yen 08 to 08 sen).
　Tokyo time began at 147 yen 80 yen, then actual purchases involving the end of the month increased, and the upper price was rounded up to 148 yen 30 yen towards the median price. The rise in long-term US interest rates outside of hours also supported dollar purchases. However, after a round of buying, the upper price became heavy, and by noon it was around 148 yen, which intensified the feeling. In the afternoon, the fact that long-term US interest rates outside of hours narrowed the increase range, induced dollar sales, and softened to around 147 yen 80 yen. In the lower price, it is said that “movements to pick up low prices against the backdrop of aggressive US interest rates are scattered” (FX traders), and there were scenes where they were repurchased up to around 148 yen, but the return was slow, and after that, it was a soft development, such as being temporarily pushed back to the 147 yen 70 yen range.
　The market is also aware of reports by the US paper Wall Street Journal (WSJ) the day before. The paper is a new model...

(Bloomberg): For investors in emerging markets, the outlook that the situation is about to deteriorate significantly before improving can be read from stock valuation signals.
The index of emerging market stocks, the actual price-earnings ratio (PER) based on corporate profits for the past 12 months of the MSCI Emerging Markets Index, fell below the predicted PER based on profit forecasts for the next 12 months. It can be seen how analysts anticipate that corporate profits will decline in the future at a faster pace than now.
Simon Kihano-Evans, chief economist at Gemcorp Capital Management, said, “This is probably an indication that we are about to reach a turning point. It reflects a situation where yields rise rapidly at a timing where recession (recession) anxiety makes investors increasingly concerned. In order for corporate profit prospects in emerging markets to turn upward again, it is necessary for the hawkish stance of the US Federal Reserve System to ease and the dollar exchange rate to calm down.”
Since an increase in corporate profit, which is the denominator of PER, is expected, in many cases, predicted PER falls below actual PER.
Regarding PER, a phenomenon like this one occurred because of the global financial crisis...