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In his lifetime, a writer Naoto Nakajima (1904-40) wrote a little less than 20 novels, all of which are about identities as second-generation Japanese-Americans [Nisei]. Nakajima's parents were Japanese, but he was born in Waipahu, Hawaii. Therefore, Nakajima had dual citizenship in the U.S. and Japan. He moved to Japan in 1919 and made his debut as a novelist with Hawaiiumare-no Kanjyo [Born in Hawaii] (1929) expressing his "longing" for Japan. He then wrote several novels, all based solely on his own experiences in Hawaii but he returned to Hawaii in 1936. In this paper, I first focus on how education influenced the formation of Nisei's identity. For example, I investigate the changes in the content of education for Nisei by the Nikkei community in the early 1900s. In addition, I analyzed the historical characteristics of Nisei as the "Marginal Man" defined by Robert E. Park in 1928. Finally, I examined the subject of Nisei's identity, which is pursued in Hawaiiumare-no Kanjyo. To this end, I tried to clarify the meaning of the message in a bottle delivered to the main character, Yutaka.

In 2020, human infection with the new coronavirus（ COVID-19） was confirmed in Wuhan, China. Soon the infection spread in Wuhan, and the city was temporarily closed. The infection spread from China to the world, and in Europe, North America, etc., the number of infected people exceeded that of China, which had a great impact on socioeconomic. In particular, the number of infected people has increased rapidly in the United States and European countries, and cities had been temporarily locked down in the world's financial centers such as New York and London. The number of infected people in Asian countries is increasing, and the wave of infection spread is continuing in Japan. Due to the global pandemic of the new coronavirus, the Tokyo Olympics, which was scheduled to be held in July 2020, has been postponed for one year. As of December 2020, drug company Pfizer has successfully developed a vaccine against the new coronavirus and started vaccination in the United Kingdom and the United States, but it is still time to see if the global infection situation will improve. Under these circumstances, economic activity continues to be exhausted. In Japan as well, a state of emergency was declared from March to May in 2020 and also January in 2021, not only economic activities but also sociocultural activities were severely restricted. As a result, GDP in the second quarter of 2020 was the largest decrease after the war. It also had a significant impact on employment, such as the ratio of job offers to applicants and the unemployment rate. On the other hand, in March, when the spread of the new coronavirus began, the global financial markets were temporarily confused as they were concerned about the future of the global economy. Major stock indexes such as the Dow Jones 30 on the New York Stock Exchange, the Nikkei 225 and TOPIX on the Tokyo Stock Exchange, fell sharply, reminiscent of the Great Depression of 1929. However, in April, the global stock market returned to a solid and steady pace. In November, the Nikkei225 exceeded 26,000 yen and finally reached the highest price since the burst of the bubble economy. In this paper, we consider the situation of the Japanese stock market, which has been high under the spread of the new coronavirus infection, focusing on its correlation with the monetary base. In addition, we will experimentally simulate the stock price index by using artificial intelligence and verify the mechanism of the stock market in the process.

平成13年度～平成15年度科学研究費補助金(基盤研究(C)(2))研究成果報告書, 研究概要：本研究では、トランスナショナルな移動の結果として沖縄に居住しているエスニック・マイノリティの人々をディアスポラと位置づけ、ライフコースにおける彼らの適応のあり方や、エスニック・コミュニティの形成、沖縄の人々からの排除や差別などの、ホスト社会としての沖縄との関連性の構築について実証的に調査分析することを目的とする。沖縄の外国人の問題は、日本本土とはかなり異なった様相を呈している。まず、戦後の長い米軍統治、さらに1972年の沖縄本土復帰後も数多く存在する米軍基地関連の需要がもたらした外国人の流入であり、米国人軍属、フィリピン人女性、インド人たちがこれにあたる。長い間見過ごされていた、米国人男性と沖縄女性の間の子供たち(アメラジアン)の教育の問題が近年クローズアップされている。さらに、沖縄から南米に移住した移民の子孫すなわち二世、三世が故郷に移住ないし出稼ぎで戻ってきているケースでは、ペルー人、ブラジル人がこれにあたる。これも、日本有数の移民送出県である沖縄の特殊性をあらわしている。上述した各エスニック・グループは、個々の移動・定着の状況に違いはあっても、ホスト社会である沖縄に完全に同化することもなく(あるいは、したくてもできず)、かといって、かれらのふるさとである国や地域に帰っていくこともままならない、きわめて不安定な状況におかれている。以上の問題意識のもと、2002年度と2003年度に、琉球大学法文学部社会学専攻課程の2年次の学生および大学院生とともに調査を行った。2002年度は主に統計調査を行い、有効票157票(うち外国人56票、日系人101票)を得た後、13ケースの質的調査を行った。2003年度は主に質的調査を行い、沖縄県内に在住する台湾人10人、アメリカ人10人、日系ペルー人12人、日系ブラジル人12人を対象にインタビューを行った。, 要約（英文）:We defy Diasporas in terms of the minority which resides in Okinawa at the time of this research process who are here as a result of transnational migration. On this matter, it is important that we positively investigate and analyze the relations between Okinawa, as the host society, and the ethnic community to learn its structure, its formation of the relations, the formation of the ethnic community, the adaptation in life course, removal and discrimination from Okinawan people. Problem of foreigners in Okinawa differs from that in mainland Japan. After 1972 Okinawa was returned to Japan but with the agreement that American base was to be left in operation.With the demand of labor, it caused people from many countries to enter Okinawa in order to work in the base and that caused cases such as the Philippine women case and the Indian people case after WW2. Problem of education, which was over looked for a long time, of the children between American man and Okinawan woman (Amerasian) is 1 observed. Furthermore, the descendant(second and third generation)of the migrants from Okinawa to South-America migrate back to Okinawa again for temporary work. (mainly Peru and Brazil)This has displayed the peculiarity of Okinawa as a Japanese prominent immigration forwarding prefecture. Each the people who belong to the ethnic group mentioned above has different circumstance of individual movement and fixation. However, as for them, it is not possible to assimilate to Okinawa completely, or even not to be back to their home country. They are placed in quite unstable circumstance. The realization of the problem came from the research done in the year 2002 and 2003 on Diaspora in Okinawa with the corporation of graduate students and 2^ year students majoring in sociology from the University of the Ryukyus. Statistical research was done mainly in the year 2002 obtaining 157 effective cases(56 cases of foreigners and 101 cases of Japanese descended person)and qualitative research was also done in the year 2002. And we interviewed 10 Taiwanese, 10 American, 12 nikkei Peruvian and 12 nikkei Brazilian who resides in Okinawa prefecture in the year 2003.

The advancement of electronic data processing techniques and high-speed trading have changed the micro-structures of financial markets. Standard passive market-making —leaving a limit order in both sides of market — is sure to make money when the premium spread is positive but cannot cover losses caused by adverse selections due to external shocks. Therefore, market makers who mix limit and market orders in order to reduce adverse selection risk may perform better under turbulent environments. This paper analyzes the Nikkei 225 Futures markets for 35 months from January 2016, testing four types of passive market making style and clarifying the properties or profitability for each market making strategy.

When tourists decide travel destinations, many factors are considered form various view point to find areas that will meet the needs of tourists. And tourists visit selected destinations and have various experiences there. After the trip, they evaluate those experiences and as a result they will come back there again, or next time they will travel to another area. In this research, I tried to make clear how the attractiveness and the experience of the visiting area affect the satisfaction of the tourists and the intention to re-visit and I conducted factor analysis. The data for this study is “The regional brand strategy survey 2013 regional edition”, that is conducted by Nikkei Research. Based on the results of the factor analysis, decision model of the tourists is developed. Regarding with attractiveness of the area, 5 factors are found. The first factor is “regional history”, the second factor is “advanced efforts”, the third factor is “natural environment”, the forth factor is “food culture”, and the fifth factor is “accommodation experience”. Especially “regional history”, “food culture”, and “accommodation experience” have correlation with re-visit of the tourism. Regarding with experience of the area, 4 factors are found. The first factor is “excitement”, the second factor is “special and unique”, the third factor is “nostalgia”, and the forth factor is “healing and health”. These four factors have correlation with re-visit of the tourism. This study identified the specific attractiveness and experience factors which does not have correlation with re-visit of the tourism. Those factors are named “risk hedging items”. Those factors provide useful information to the travel planning phase to avoid the dissatisfaction during the travel. Based on these findings, decision making model of the tourist is developed. At the planning stage, attractiveness factors of regions such as “region-specific history”, “advanced efforts”, “natural environment”, “food culture”, “accommodation” are important. Then tourist make the plan of sightseeing activities in tourist spots. It is considered that the empirical value factors in the region such as “excitement feeling”, “special feeling”, “nostalgia”, “healing and health” are important. Through sightseeing activities in tourist spots, if you are highly satisfied with items such as ‘historical tradition’, ‘name historic site’, ‘local cuisine’, ‘accommodation facilities’ there is a possibility that it will lead the tourists to re-visit. In addition, “enjoyable experience”, “experience not in other areas”, “learning from history and culture”, “nostalgic feelings”, “goodness of Japan”, and “healing and healthy” will lead the tourists to re-visit.

読売，日経，朝日，毎日の4つの大手新聞社と共同通信のうちどの社の選挙予測の精度が高いのかを，全小選挙区の情勢記事を比較することで調べた．その結果，報道内容は速報競争による調査設計の影響を受けていることが明らかになった．その理由として，①実質回収率が一番低い共同の予測精度が悪かった，②小選挙区の情勢を他社より早く報道した読売は接戦の情勢が多かった，③中盤情勢を報道した毎日の立憲民主獲得予想議席が一番選挙結果に近かった．本稿は，予測報道の改善に資する分析結果を開示すると同時に，今後の選挙情勢調査のあり方も論じる．In this study, we compare articles that predicted the results of the 2017 Lower House Election in Japan. These articles covered each election district and were published by four newspaper companies and one news service agency, namely, Yomiuri, Nihon Keizai (Nikkei), Asahi, Mainichi Shimbun Newspaper, and Kyodo Tsushin. Media forecasts based on earlier surveys made worse predictions. This paper finds that: (1) the prediction by Kyodo that had gotten the lowest response rate was highly inaccurate, (2) Yomiuri had made predictions in each election district faster than other media had, and showed close battle for many ditricts, and (3) the survey conducted by Mainichi in the middle stage of the race was slower than other media and had made the most accurate predictions regarding number of seats won by The Constitutional Democratic Party of Japan (CDP). We present data that can be useful in improving the quality and accuracy of election predictions. We also discuss the future of election predictions using new survey methodologies., １．はじめに２．調査の設計と運用の影響 ２－１．速報競争 ２－２．調査設計と調査誤差(Survey Error)３．統計処理（サイエンス）と情勢判断（アート） ３－１．議席および当落予想の精度 ３－２．誤差幅と当選確率の関係４．選挙区での当落予想の精度５．終わりに

2011年3月に発生した福島第一原発事故は，東日本大震災を引き金にして起きたものであったが，その原発事故により広大な国土が放射能に汚染され，国土の一部は長く人が住むこともできない大地となり，また今後長期にわたり多くの人々への健康被害が懸念されるなど，大災害となった。その大災害に至った1つの大きな要因として，メディアによる原発の必要性や安全性などを訴える広告などの情報が，原発の問題を指摘する情報よりもはるかに多大であったこともあるが，その一方で，本来伝えられるべきであったと思われる原発関係の情報が十分伝えられてこなかったということがあると思われる。そうした情報の中で，本稿では，福島での原発事故が起きるまでは最悪の原発事故であった旧ソビエトのチェルノブイリ原発事故後による食品汚染についての情報について検討した。1986年に起きたその原発事故により，タイやフィリピンなどでは大きな放射能汚染食品騒ぎがあったが，少なくとも関西地方ではほとんど伝えられなかった。それらのニュースの内容をタイなどの地元紙の記事などから確認し，それらが実際にあまり報道されるべき価値のないものであったのかどうか検討した。また，それらのニュースが日本国内で実際にどの程度報道されたのかについて，国内の強力な新聞記事等のデータベースである「日経テレコン」により確認した。一方，福島第一原発事故から5年以上を経て，放射能汚染食品や放射線による健康被害など，また原発関連の報道が十分になされない部分が出てきている。その近年の状況についても，データベース利用などにより確認し考えてみた。メディアの編集者が放射能汚染食品や人々の健康被害に関する情報を制限する背景として，社会的不安などが生じることへの配慮もあると思われるが，正しい情報が伝えられないことにより，福島での原発事故の忘却が早められ，しっかりと原発について考えようとする流れが弱められている。, The Fukushima Daiichi Nuclear Power Plant accident which occurred in March, 2011, triggered by the Great East Japan Earthquake has been a catastrophe. Vast land was polluted by radioactivity by the nuclear accident, and the land is partly not suitable for people to live in over a long term. Many people who were exposed to higher levels of radiation are at risk of health hazard.Before the catastrophe, information about the “necessity” and “safety” etc. of nuclear power plants by the media had been quite greater than the information about problems of nuclear power plants. That seems to be one of the factors which led to the horrible accident. On the other hand, the fact that information about the important matters relating to nuclear power plants had not been reported enough seems to be another factor. In this paper, I have checked the information about the food pollution after the Chernobyl nuclear accident in 1986 in the former Soviet Union which was the worst nuclear accident until the nuclear accident in Fukushima occurred.There were big troubles over radioactive contamination of foods in Thailand and Philippines etc. after the Soviet nuclear accident. However, those news were hardly ever reported in the media in Kansai area. I have confirmed the facts that had happened in the countries mainly from articles on local papers, and considered if those news were really worthless to report or not. I also have confirmed how much the media reported about the news in all over Japan by using the “Nikkei Telecon” which is the most powerful data base for news articles in Japan.On the other hand, some news which are related to the nuclear accident have not been reported well recently again, five years after the catastrophic accident in Fukushima. Those news are on the radioactive contamination of foods and the health hazard by radiation. I have checked it by using the data base too, and considered it.It seems that editors of the media tend to suppress information about the news fearing to cause social unrest. It may be one of the big reasons those news have not reported well. However, there seem to be problems in such circumstances. One of the big problems is that memories of the accident in Fukushima are fading rapidly. And another one is that the atmosphere to think nuclear power plants seriously has been gradually changing.

This paper investigates the determinants of demand for consumer loans in Japanese households. Using data on household financial behavior from the Nikkei Needs RADAR for 2009, we empirically analyze factors affecting the borrowing and the amounts of money borrowed by households by use of Heckman's two-step regression. The results indicate that the probability of obtaining a loan is higher for a male and self-employed worker. It was also found that households with higher income and consumption levels exhibit a tendency toward having higher consumer loan amounts. On the other hand, the results show that consumer loan amounts are negatively correlated with subjective cost and liquidity assets held by households.

本稿では、2008年10月に本学西ギャラリーにて開催された移民パネル 真展「ブラジルの中の日本、日本の中のブラジル〜 真で見る100年、過去から未来へ〜」について、その背景と目的、組織態勢、交流イベント、 真展の詳細等を報告する。 真展は(1)かつてブラジルに渡った日本人、(2)現在ブラジルで暮らす日系人、(3)現在日本で暮らすブラジル人の3つのセクションから構成された。これからの未来を担う子どもたちや彼らの夢にも焦点を当て、学生実行委員会と子どもたちとの交流イベントを実施した。その内容も展示の中で紹介された。, In this article we will report about a photo exhibition held in October 2008 at Shizuoka University of Art and Culture under the title of "Japanese in Brazil, Brazilians in Japan: 100 years in Photos - From the Past to the Future". The exhibition displayed the past and present in three sections: "Japanese Immigrants to Brazil in the Past," "Nikkei People Now Living in Brazil," and "Brazilian People Now Living in Japan." We focused on children as the torchbearers of the future and their dreams. We hosted three events to facilitate interaction and deepen mutual understanding between the Japanese people and Nikkei Brazilian children who live in Hamamatsu.

The Nikkei Stock Average peaked at 38,915.87yen on December 29, 1989, and steadily fell after the collapse of the Japanese asset price bubble, hitting a low of 7,607.88yen on April 28, 2003. Some argue that the injection of public funds into Resona Bank in these circumstances was a noteworthy and important economic policy measure that helped turn around the Japanese economy; others assert that it had the harmful effect of encouraging moral hazard among financial institution managers and shareholders. Even at present, there is no consensus. Over ten years have passed since the injection of public funds into Resona Bank in 2003. This paper surveys previous research, and through the use of additional material that has since become available, considers from a wide variety of angles the historical significance of the impact the rescue had on the Japanese economy.

In this paper, we will analyze the question, how do famous people from various professional worlds describe their memories of "teacher (mentor), " mostly in quantifiable terms. This paper adds to our knowledge by analyzing the results of a long-running monthly column in the Nikkei Shimbun entitled "My Resume (Watashi no Rirekisho), " which highlights differences according to one's occupation. When we consider this question for professions as a whole, our results can be divided into four categories: 1) a group in which most people describe deep and profound memories of their teachers (specialized professions), 2) a group in which most describe deep memories of only a few particular teachers (arts, entertainment and literary professions), 3) a group in which a large number of teachers are described but the descriptions are short and their depth is thin (bureaucrats), 4) and a group in which both the number of teachers described and the types of descriptions offered are few (company managers and politicians). This paper considers the details of these four professional categories to clarify the distinct characteristics of these types of people. The results indicated that the meaning of "teacher (mentor)" and the social status afforded to them differed depending on one's profession.

東京大学が学部の入学時期を全面的に秋へと移行するという2011年7月の新聞報道以来、本邦大学の秋入学(1)問題が政敗官界の広範な人々や機関を巻き込んで議論されている。しかし、目下のところその大半が、ギャップターム問題、すなわち大学入学時期(秋)と高校卒業時期(春)の溝をどう埋めるかという、本来の秋入学提言が持つ部分的な課題にのみ集中しており残念である。そこで本稿では、秋入学に関連する様々な問題を高等教育における接続(2)という視点から新たに捉え直し、接続の8類型を提示しながら再整理する。 つまるところ、秋入学とは高校と大学との新たな形の接続であり、同時にわが国の高等教育と海外のそれとのより緊密な接続という問題をも提示している。秋入学は既にグローバル30事業採択校等において実施されているものの、その拡大実施は、わが国の多くの大学に入学試験の改革を促し、教育の質保証を本格的に求め、教授・学習言語としての英語の重要性をさらに高めることになるだろう。, When the Nikkei newspaper reported in July 2011 that the University of Tokyo would begin admitting students in the autumn instead of in the spring，many Japanese began debating whether this was a desirable and feasible practice. However，most of the reporters have focused on issues like the “gap term，" and have only referred to the timing between the entrance to universities in the autumn and the graduation of high schools in the spring，which is a pity because such a discussion is only part of the real issue. In my paper，I attempt to point out that autumn entrance is another issue of higher education and articulation，by showing the eight categories of articulation in higher education. After all，various issues about autumn entrance should be reviewed from the viewpoint of articulation between high schools and universities in a domestic context，as well as between Japanese higher education institutions and those abroad in an international context. Autumn entrance has already started at such universities in Japan as the Global 30 Universities. As the number of such universities expands，typical Japanese universities will need to change their current form of entrance examinations，assure their educational quality and revalue English as a teaching and learning language.

2011 年8 月21 日〜 8 月28 日の日程で、カナダBritish Columbia(BC)州 Vancouver における国際保健研修に参加した。LANGARA COLLEGE でHealth Care の講義を受け、午後は正看護師や専門看護師の講演と視察に参加した(写真1,2)。視察施設は、Vancouver General Hospital、Blusson Spinal Cord Centre、NIKKEI PLACE の3 箇所であった(写真3,4,5)。今回の研修から、看護職種の中に保健師という名称のないBC 州において、居住者の健康管理がどのようになされているのかが明らかになった。その結果、わが国の保健師の重要な活動としては、健康リスクの高い地域居住者への疾病予防対策と地域のマネージメントが必要であるという示唆が得られた。

本研究では、業種別株価と代表的経済紙（日本経済新聞）の業種別景気予測との関係を市場の効率性の観点から検証する。後者のデータを数値化した後、二項検定を行った。その結果、経済紙の業種別景気下降予測は、株価の下落を有意に説明してはいないが、上昇予測は、株価の上昇を有意に説明していることがわかった。これは、セミストロング型の効率的市場仮説を肯定できないものである。 In this research between the stock prices and the industrial forecast by the economic paper (Nikkei, Nihon Keizai Shimbun) is examined in terms of market efficiency. The binomial test is employed to the test after quantifying the date from the economic paper. In the result, although data period isn't fully sufficient, positive economic predictions could explain the stock price fluctuation significantly, while negative economic predictions could not. This comes to refute the hypothesis of semi-strong from of market efficiency.

Theories of asset allocation predict that higher forecasts of returns on risky assets lead to a higher share of risky assets to wealth. This study tests this prediction on household asset allocation by examining the relationship between the share of risky assets held by households and their forecasts of returns on risky assets by using a household survey that asks respondents their highest and lowest forecasts for the Nikkei 225 index. Constructing the median forecasts from these two forecasts, the share of risky assets to wealth is regressed on the three forecast variables: the highest, median and lowest. It was found that the share of risky assets to wealth is positively but weakly correlated with the forecast variables as the theories predict. Moreover, the lowest forecast has a greater effect on the share than the other two forecasts. These results indicate that households determine the amount they hold in risky assets based on the lowest forecast rather than the highest or median forecasts of returns on risky assets.

The purpose of this research paper is to consider an appropriate “ideal model” with respect to value creation for venture companies. When evaluation a company valuation, such valuation is created based on company operations and the measurement of tangible and intangible assets. Valuations can be understood from the two aspects of the tangible assets and the intangible assets of a company. But from a different point of view, a valuation can also be carried out from many other contexts, including company operations (see my article reported in the journal of the Faculty of International Studies, Bunkyo University). This research paper intends to clarify the increasing demand on the part of stockholders, investors, potential investors, creditors, vendors, tax authorities, employees and consumers ― the so-called “stakeholder”― for comprehensive company valuations and disclosure. This paper will delineate the advantages and disadvantages of a comprehensive company valuation carried on venture companies and to clarify, through case studies and the Nikkei valuation program “NICES” what factors need to be evaluated from the point of view of investors, consumers, employees and society. In conclusion, it will be shown, how comprehensive company valuations are desirable from the view point of all stakeholders as members of modern society.

2010 年8 月22 日〜8 月29 日の日程で、カナダBritish Columbia 州Vancouver において国際保健カナダ実習を実施した。参加者は学生と教員を合わせて8 名であった。LANGARA COLLEGE での講義を受け、午後は専門看護師の講演と視察を実施した。視察施設は、Vancouver General Hospital、Blusson Spinal Cord Centre、NIKKEI PLACE の3 箇所であった。今回の研修における学生の評価は、参加者7 名のうち6 名が「満足している」と回答した。

When the foreign students study Japanese, there are many diffi culties to overcome for them. For example, particles, the honorifi c system, etc, they are well-known diffi culties. However, the words accompanied with the suffi x“teki（ 的）”are not considered so seriously and not explained in systematic way though they are comparatively often used. Then, in order to get the hint to teach the suffi x“teki（ 的）”systematically and effectively to foreign students, I investigated how they are used especially in the Nikkei Paper. As a result, 4 facts have been found out. (1) The suffi x“teki（的）”is the most frequently used in formal sentences such as academic theses. (2) As the stem of the words accompanied with the suffi x“teki（ 的）”, Chineseorigin words, especially two-letter words are over whelmingly often used. However, Japanese-origin ones , foreign language-origin ones and phrases are used, not so often, but in certain proportion. (3) In high possibility “, gutaiteki（具体的）”“, sekkyokuteki（積極的）”“, sekaiteki（世界的）”are often used, no matter what the topic is. (4) Some words accompanied with the suffi x“teki（ 的）”are used in the limited field of topic.

This paper reports that we have succeeded in producing index-plus-alpha portfolios, that is a portfolio of stocks that would have produced a return that is a higher than a given index. The portfolio has stable ex-post facto performance, that is they are predicted to closely track a market index with an extra amount of profit. The period of time used to test the method was between 1996-1999 when active fund managers were unable to create portfolios that would exceed the market index. In order to obtain good ex-post performance of an index-plus-alpha fund, an improved surrogate constraints method is applied to data from the Tokyo stock market (NIKKEI 225) from April 1994 to March 1999.

The paper tries to clarify the life issues of Filipino migrants, a group of newcomer foreigners in Japan with 187,241 registered population as of 2005, majority of whom belong to the age bracket of 35-39, more female than male, with high rate of intermarriage with locals, and entertainment industry as their first job experience in Japan. Based on the interviews with the members of the Filipino seniors group in Nagoya, the author has drawn the following 6 findings: (1) interviewees recognized themselves “aged” when they reach the late 40’s or early 50’s; (2) all of them experienced working within the ethnic community like baby-sitting at Filipino households, cooking and cleaning at Philippine restaurants; (3) none of them has paid sufficient months in Japan to be eligible for the retirement pension, and some received seikatsu hogo (Japanese version of Supplemental Security Income); (4) in accordance with the Philippine culture, many expect that their children are responsible for supporting their life as parents; (5) the schedule to “retire” in the Philippines is postponed due to the sickness or reluctance of Japanese husbands usually older than Filipino wives; and (6) since the 1990’s, a number of Nikkei Filipinos of various age brackets came to Japan, who will face the reality of aging earlier.

This paper analyzes the impact of corporate environmental management activities on firm value using the "9th Environmental Management Survey" conducted' by Nikkei Inc. and concludes that a positive relationship exists between the degree of environmental management and firm value. The results indicate that undertaking environmental management initiatives will result in increasing firm value and also imply that corporate "environmental management" and "value maximization" are compatible. The results also show that, in addition to information regarding firm profitability, information regarding environmental management can be a significant factor in determining firm value. Accordingly, this result supports Socially Responsible Investment (SRI) as an effective means of financial investment. Further, among various environmental measures, the strongest relationship is seen to exist between firm value and pollution control measures. This implies that investors give favorable consideration to firms that control harmful materials including asbestos as well as those that cause aerial and ground pollution and consider such activities to be important indicators of sustainable future cash flow generation.

資産価格の高頻度データが利用可能になるにつれ，日中リターンの２乗を足し合わせた Realized Volatility (RV) がボラティリティの精度の高い推定量として注目を集めるようになってきている．本稿は，こうした RV に関する研究についてサーベイを行ったものである．RV の変動を表す時系列モデルには ARFIMA(X) モデル，HAR モデル，UC モデルなどが提案されており，本稿ではそうしたモデルについても解説を行っている．また，日経225株価指数の日次 RV を計算し，それにそうした時系列モデルを当てはめた場合と，従来のように，日次リターンに ARCH 型モデルを当てはめた場合とで，ボラティリティの予測精度の比較を行っている．さらに，最近の RV の研究はさまざまな方向に発展が見られるので，そうした新たな発展についてもサーベイを行い，今後の研究課題を探っている．, Realized volatility, which is the sum of squared intraday returns, has recently attracted the attention of financial economists and econometricians because high-frequency returns data are now available. This article surveys the literature on realized volatility and analyzes the realized volatility in the Japanese stock market. The time-series models to describe the dynamics of realized volatility such as ARFIMA(X), HAR, UC models are explained. Their predictive abilities for future volatility are compared with those of several ARCH-type models using the daily returns and realized volatility of the Nikkei 225 stock index. Several important problems to be treated in future work are also discussed.

As a result of the revision of the Immigration Control Law in 1990, tens of thousands of the Japanese descendents (nikkeis) from South America, mainly from Brazil and Peru came to Japan as ‘dekasegi’ (migrant workers) labor force. Their intention was to ‘come, work, remit and return’, or work hard to save as much money as possible and return to their home country to have a better life. However, over the last 15 years, most of them continued to work in Japan and had families. The nikkeis are no longer considered ‘guests’ or ‘temporary labors’ in the cities where they live and have rights to enjoy administrative services. This essay focuses on the qualitative and quantitative changes in the information required by nikkeis with the lapse of time. Three case studies were conducted with Association of Nikkei & Japanese Abroad, Aichi International Association and Toyohashi City, Aichi Prefecture. The analysis of the changes in the topics of the consultation, and the number of the consulters show how nikkeis’ need have changed. The findings showed that nikkeis require more individualized and personal counseling.

本論は、日経225株価指数、及び追加型株式投資信託の日次データを用いて、価格収益率とボラティリティの関係について実証分析を行っている。危険資産のリターンが負の場合は、正の場合に比べてそのリスクが大きいという負の因果性が見られるか否か、ノンパラメトリックな回帰分析を用いて実証するとともに、その理論的分析をプロスペクト理論を用いて行っている。結果、日本の株式インッデクス、及びインデックス連動型の投資信託にはこの負の因果性が見られ、プロスペクト理論における価値関数がその投資家行動を説明しうることを示した。しかし、分配回数の多い人気投資信託や収益性を重視した投資信託には両者の明確な因果性が見られず、特に、前者はリターンの大きさに関係なく、低いリスク水準を一定に保っていることがわかった。これは、分配型投資信託が人気商品になっている要因の一つであると考えられる。, This paper investigates the correlation between the volatilities and the indices returns using daily data for Nikkei 225 and Japanese Open Stock Investment Trusts. Both a prospect theory and a nonparametric regression method are used to investigate a negative relationship between volatilities and returns.Three important features are found. First, the volatilities of both the Japanese stock index and the funds whose indices are connected with the stock market indices are found to depend negatively on the returns. This negative relationship is shown with a value function in the prospect theory. Second, the volatilities are not related to the returns of the funds with the monthly dividends and the funds whose returns are higher than the other funds. Third, the volatilities of the funds with the monthly dividends keep low levels at all the returns. This is a reason why the funds are the most popular., 論説(Article)

In this paper, I examine the association between the amount of environmental information disclosure and the uncertainly level affecting the firms' future financial conditions. The magnitude of individual firm's cost of equity capital would provide appropriate context in which to investigate the uncertainty resolution effects attached to environmental disclosure. First, I examine whether the amount of environmental disclosure significantly reduces the magnitude of estimated cost of equity capital as for the firms included in the Nikkei Kankyo Keieido Ranking of 2001. Second, I explore the effect of environmental accounting information on the magnitude of cost of equity capital by indexing the level of disclosure in each category prescribed in the guideline published by the Ministry of Environment in Japan. Although the results weakly support the uncertainty resolution effects of environmental disclosure level as a whole, I find strong evidence that the amount of environmental accounting information significantly reduces the cost of equity capital after controlling for market beta, firm size, growth and profitability measures. I empirically address the benefits from greater disclosure of a firm's environmental activities in the context of capital market, which have yet to be readily examined in Japan.

The purpose of this study is to examine the relationship between environmental performance (EP) and financial performance (FP) of Japanese manufacturing firms for a five-years period. Three examinations of basically 760 firms listed in Nikkei Environmental Management Reports from 2000 to 2004 were conducted. The Results showed that firms classified as high EP & high FP kept higher financial performance and lower financial risk than firms classified as low EP & high FP. This meant that positively working on environmental problems had already become a necessary requirement for firms to keep acquiring high financial performance. The results also showed that firms classified as low EP & high FP didn't achieve higher environmental performance than firms classified as low EP & low FP. This meant that high financial performance was not necessary for firms to achieve high environmental performance.

This paper discusses current condition of the risk information disclosure of the Japanese business corporations, focusing on the requirements of such risk information for its users to make decisions. In the actual condition survey, object corporations are picked up from the Nikkei 225 listing and disclosure sections for the risk information in their financial statements have been investigated and analyzed. As a result of the survey, two points have been revealed as issues of the Japanese corporations in disclosure of the risk information. One is the lack of quantitative information at disclosure. The other is that no information pertaining to the internal control is rendered. This paper analyzes these two points and prospects what the risk information disclosure of the Japanese corporation in the future should be.

この論文では，公的年金資産が家計にどのような影響を与えているかを個票データをもとに分析した．分析に用いたデータは，日本経済新聞社の「NEEDS-RADAR 金融行動調査（第16回）」の個票データである．対象は首都圏の住民のみだが，調査時期が1998年と新しい．公的年金と貯蓄の関係は，Feldstein (1974) の有名な研究以来，数多くの実証研究が行われてきた．当初，時系列集計データを用いて，ライフサイクル消費関数（または貯蓄関数）の説明変数に公的年金資産を加えるという方法でのアプローチが行われたが，Lucas の計量経済学批判に耐えられないことなど，現在では集計データによる分析の欠点が十分に認識されるようになってきた．こうして個票データを用いた分析の重要性が意識されるようになってきたのだが，日本では，個票データの入手が難しいこともあって，これまで十分な研究の蓄積が行われているとは言いがたい．また，実証研究の結果についての結論もバラバラである．分析の結果，公的年金資産が家計資産を減らしているという証拠は発見されなかった．この結果は，ライフサイクル仮説に反し，Barro 型の遺産動機仮説と整合的である．, We analysed the effect of pension wealth on household wealth holding, using Nikkei NEEDS RADAR, a survey on the financial situation of households living in the Tokyo metropolitan area. We first estimated a wage-age equation to get permanent income, which still contains a "cohort effect" but the "aging effect" is removed. Public pension wealth of each household was then calculated according to his age and the permanent income. Contrary to the life cycle hypothesis, we found that public pensions do not decrease household wealth.

新聞記事の文章末に着目し、文書の文字数が大きくなるほど、文章末に出現する頻度が高くなるような名詞が存在するかどうか調査する。資料として、新聞記事データベース1年分から、キーワード検索を用いて得られる文書群の内、文書数が500から1500までの文書群を全て取り上げる。文書群の数は495個である。ある文書群に於いて、文書の文字数が増加するに連れ、文章末での出現頻度が増加する名詞を、その文書群の"大河ターム"という造語で呼称する。495個の文書群からの抽出の結果、480個(〜97.0%)の文書群からのべ4158個の大河タームが取り出される。大河タームの20%弱は、抽出に用いた文書群の頻出名詞であることがか確認される。複数の文書群から重複して抽出される回数が大きい大河タームの内、いくつかは、他の文書群での頻出名詞になることがなかったこと、つまり、長い文章の締め括り部分で使用され易い名詞が存在することが確認される。, We focus on the, frequency of noun usage in the closing sentences of a group of newspaper articles. We investigate the existence of terms whose usage frequency in the closing sentences increases as the article length increases. Data are compiled from 495 groups of news paper articles obtained from the Nikkei Newspaper Database '97 which include more than 300 and less than 1500 articles. The nouns are called "taiga terms" whose usage frequency in the closing sentences of each article increases as the article length increases ("taiga" means 'big river' in Japanese). 4158 "taiga terms" were extracted from 480 article groups. A little less than 20% of "taiga terms" are the most frequently used nouns. Some "taiga terms" are repeatedly extracted from many groups of newspaper articles, and they are not the most frequent houns in any groups of newspaper articles.

新聞記事の文章末に着目し、文書の文字数が大きくなるほど、文章末に出現する頻度が高くなるようなタームが存在するかどうかを調査する。資料として、新聞記事データベースからランダムに選んだキーワード検索を用いて得られる文書群のうち、文書数が300を越える文章群を10個取り上げる。ある文書群において、文書の文字数が増加するにつれ, 文章末での出現頻度が増加する名詞を、その文書群の"大河ターム"という造語で呼称する。キーワード検索により得られた文書群から大河タームを抽出した結果、一つの例外を除き、取り上げた全ての文書群から複数の大河タームが取り出される。大河タームの80%以上は、9個の文書群の最頻出名詞と違うものであることが確認される。, We focus on the frequency of noun usage in the closing sentences of a group of newspaper articles. We investigate the existence of terms whose usage frequency in the closing sentences increases as the article length increases. Data are compiled from 10 groups of newspaper articles obtained from the Nikkei Newspaper Database '97 using 10 keywords randomly which include at least 300 articles. The nouns are called "taiga terms" whose usage frequency in the closing sentences of each article increases as the article length increases("taiga" means 'big river' in Japanese). Several "taiga terms" were extracted from nine of the article groups. More than 80% of "taiga terms" differ from the most frequently used nouns which appear in the 9 groups of articles.

This paper analyses productivity and competitive starategy of the telecommunication industry in Japan and U. S. In section 1, I analyse and compare the productivity of NTT, TEPCO, SONY, and NINTENDO. I adopt labor, capital and total factor productivity analysis for that purpose using NIKKEI financial data. Further, I show the outline of divisional income statement of NTT in 1992, as NTT has showed it separately between long term distance and local phone division for the first time. In section 2, I consider the competitive strategy of the telecommunication industry of U. S. , because it has passed almost 10 years after the breakup of ATT and the evaluation on success or failure of the breakup is discussed actively both on theoretical and empirical basis in U. S. I think this analysis is usefull to consider the breakup problems of NTT in 1995.

本論文では、ある変数が長期記憶過程に従うシグナルとホワイト・ノイズに従うノイズの和として表されるとした場合に、ノイズが存在するかどうかを検定するための新たな統計量を考えた。同様な統計量にSun-Phillips(2003)が考えた統計量があるので、モンテカルロ実験によって、彼らの統計量とここで新たに考えた統計量の性質を調べた。また、長期記憶過程に従うことが指摘されている系列にRealized Volatility(RV)があるので、日経225株価指数の5分ごとのリターンを用いて計算したRVと1分ごとのリターンを用いて計算したRVに対してノイズが存在するかどうか検定を行った。, In this paper, we propose a new test for the presence of noise in the long-memory signal plus white noise model. A similar test was proposed by Sun-Phillips (2003), so we conduct simulation experiments to examine and compare the finite sample properties of these two tests. It is well-known that the realized volatility (RV) follows a long memory process, so we apply these tests to the RVs calculated using the 1- and 5-minitues returns of the Nikkei 225 stock index., 21世紀COEプログラム = 21st-Century COE Program

The writters studied on the antimicrobial components contained in the crude drugs. Cochliobolus miyabeanus (S. Ito et Kuribayashi) Drechsler KU-13 and Bacillus subtilis (Ehrenberg) Cohn IFO-3033 were used as the test microorganisms. Among the ninetytwo samples used in the study, fifty-one samples (55.4%) showed antibacterial activity and twenty-two samples (23.9%) showed antifungal activity. Asenyaku (Uncaria gambir Roxb.), Aroe (Aloe ferox Mill. etc.), Botanpi (Paeonia moutan Sims.), Daio (Rheum palmatum L. etc.), Keihi (Cinnamomum cassia Blume etc.), Kikka (Chrysanthemum morifolium Ramat.), Kujin (Sophora angustifolia Sieb. et Zucc.), Nikkei (Cinnamomum sieboldi Ohwi), and Shikon (Lithospermum officinale L. var. erythrorhizon Maxim.) showed both of the activities to bacteria and fungi. From the eleven samples such as Asenyaku, Botanpi, Boui (Sinomenium acutum Rehder et Wilson etc.), Daio, Obaku (Phellodendron amurense Rupr.), Ryokyo (Alpinia officinarum Hance), Shikon, Shukushanin (Amomum xanthioides Wall.), Tanba-ouren (Coptis japonica Makino var. dissecta Nakai), and Uwaurushi (Arctostaphylos uva-ursi Sprengel), antifungal substances were extracted using organic solvents.

3-20: 流域治水の取り組みが生態系サービスに供給に与える影響 水害リスクの軽減を目的とした住宅地周辺部での水田・森林の保全（宅地転用の抑制）や水害リスクの高い地域における宅地から森林・水田への土地利用誘導をグリーンインフラの導入と位置づけ、政策介入の有無がグリーンインフラの多機能性にどのような影響を与えるか、滋賀県の流域治水条例を例に挙げながら、シナリオ分析の手法によって解明する。