World Focus is a monthly publication of Sumitomo Shoji Research Institute, Inc., a member of the Sumitomo Corporation Group, with reports on economic and market trends in Japan and other countries around the world. World Focus is also available on the Internet (http://www.sumitomocorp.co.jp/english/special/wf/). If you have any questions or suggestions concerning this publication, please do not hesitate to contact us.

Disclaimer: The information contained herein is compiled from sources considered reliable; however, Sumitomo Shoji Research Institute makes no representation or warranty with regard to its accuracy or completeness and will assume no liability for the consequences of its use, which shall be based on the user's own judgment. The statements and opinions presented herein are those of the individual authors and do not necessarily represent the views of Sumitomo Shoji Research Institute.