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Press translations [Japan]. Economic Series 0073, 1945-12-17.
Supreme Commander for The Allied Powers. Allied Translator and Interpreter Section.

translation-number: economic-0359

call-number: DS801 .S81



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GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
ALLIED TRANSLATOR AND INTERPRETER SECTION
PRESS TRANSLATIONS
NO. 359 Date: 17 Dec 45

ECONOMIC SERIES: 73

ITEM 1 Abolition of subsides for coal Iron and Steel, Non Ferrous Metals and Electricity The NIPPON SANGYO KEIZAI 12 Dec 45. Translator: SHIBATA. E
Full Translation:
The Department of Commerce and Industry announced on 11 December the abolition of the "price adjusting subsidies" for coal, iron and steel, non-ferrous metals and electricity, and, at the same time, its accompanying price revision. The time of abolition of each subsidy is: coal-from 1949; iron and steel-from 1946; non-ferrous metal- From 1 December, 1945 aluminum-from the second half of 1945; electricity-from 1946.
The price revision of each article is as follows:
Coal-(a) The present average selling price of 20.30 yen per ton will be raised to 85.00 yen. This revised price, which is made on a basis of the estimated cost of production in 1949, will be applied from 1 December 1945; (b) The subsidy for coal to adjust its price, will be continued [illegible]till 1948, so as to stabilize production condition.
Iron and steel: (a) The present prices of pig-iron at 90.00 yen per ton, and of bar steel at 189.00 yen per ton, will be revised to 830.00 yen for the former and 680.00. The raised prices will be applied from December of this year; (b) The price subsidy will be continued until March of next year in order to cover the difference between the revised prices and the costs of production; this estimated to amount to 1,000 yen for pig-iron and 2,500 yen for steel until the latter half of next year, as projection condition in the second half of this year are very unfavorable.
Non-ferrous metals: (a) The present prices of copper at 1,800 yen per ton, load at 570 yen per ton, zinc at a maximum of 840 yen per ton and an average price of 760 yen per ton, Will be revised to 7.500, yen per ton for copper, 180 yen per ton for lead, and a mazimum of 2,400 yen a ton and an average of 2,300 yen per ton for zinc. The raised prices will be effective from 1 Dec of this year; (b) The raising of prices aims to re secure a yearly out put of 35,000 tons of copper, 8,000 tons of lead and 35,000 tons of zinc. The subsidies will be abolished at the same time the new prices go into effect.
Aluminum: (a) The present price of 4,800 yen per ton will be raised to about 8,000 yen. The revised price will be applied to aluminum produced after October of this year and affects, mainly, aluminum produced from waste and scrap metal from unused aircraft; (b) For aluminum handled by the Light Metal Control Association (KEIKINZOKU TOSEI KAI) and metal refiners, the price shall be left unrevised, namely at 4,100 yen. This is because of the need of rapid production of the necessities of life and. because it has already been subsidized; (c) The subsidy shall be abolished in the latter half of this fiscal year because the raised price is retroactive to October and, also, the quantity of aluminum now existing is very scarce.


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ECONOMIC SERIES: 73 (Continued)
ITEM 1 (Continued)
Full Translation:
Electricity: (a) Price rates of electric light and electricity are scheduled to be raised 6 per cent more than the present prices, starting from January of next year; (b) As a result of this price raise, the subsidy for dividends of the JAPAN Electric Company (NIPPON HASSODEN [illegible]I KAISHA) which is like other subsidies which aims at the adjustment of prices, shall be abolished in January of next year. The subsidy for 1945 amounts to 35,000,000 yen and the reserve fund amounts to 1,920,000 yen.
As mentioned above, simultaneously with these price revision, the subsidies will be abolished. As a result, about ten billion yen are to be saved out of the amount of 2,360,000,000 yen for each subsidy. On the other hand, the consumer's price will be raised to a certain degree as a result of the sharp increase in price of basic materials. However, the increase will not be very much. For instance, by raising the price of coal, such articles as pulp, artificial silk, paper, and so on are estimated to rise in price by about one per cent; gas rates which are to be effected most strongly, will be raised to 32 sen from 13 sen per cubic meter.
Following is a list of the new prices for second grade coal: (A) Second grade KYUHOKU coal (for popular use); heat-more than 3,800 calories; ashes less than 25.5 per cent.
Districts New price (Yen) Former Price Yen Difference (Yen) Percentage of increase
DANTO market (delivery off shore or at station of consignee) 106.20 24.55 81.65 433%
TOKAI Market (delivery offshore or an Station of consignee 110.70 25.51 85.19 434
KINKI Market (delivery offshore or an Station of consignee) 116.20 24.42 91.78 476
HOKURIKU Market (delivery offshore or an Station of consignee) 110.70 25.43 85.27 435
TOHOKU Market (delivery offshore or an Station of consignee) 106.20 [illegible]4.46 81.74 434
CHUGOKU, SHIKOKU Market (delivery offshore or an Station of consignee) 113.80 23.37 90.43 487
Domestic coal (NAICHI) (F.O.B.) 71.00 18.76 52.24 378
HOKKAIDO Market (along a railway line) (F.O.B. to destination) 64.30 17.81 46.49 361
KYUSHU Market (along a rail-wary line) (First District) 64.00 17.91 46.09 357
KYUSHU Market (Second District) 66.60 18.96 47.61 351
KYUSHU (F.O.B. at colliery or at station of shipment) 61.60 16.77 44.83 367
HOKKAIDO (F.O.B. at colliery or at station of shipment) 61.60 15.77 45.83 391
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ECONOMIC SERIES: 73 (Continued)
ITEM 1 (Continued)
Full Translation:
(B) Second grade JOBAN coal (for popular use); hear more than 4,700 calories; ashes less than 32 per cent.
Districts New Price (yen) Former price yen Difference (yen) Percentage of increase
KANTO 37.60 19 36 38.24 298%
TOKAI 59.20 22.32 36.88 265
HOKURIKU 58.70 20.52 38.18 286
JOBAN 56.10 17.89 38.21 314
ITEM 2 Drastic Revision of JAPAN Security Law Planned NIPPON SANGYO KEIZAI 13 Dec 45. Translator: KITAGAWA T.
Summary:
Since the end of the war, the Government, spurred by interested parities has appointed officials of the stock exchange in an attempt, to make all careers open to everybody. These officials are keenly interested in a drastic revision of the current stock market system which they have been denouncing as a product of bureaucracy. We finance Ministry a thorities are drafting a bill of the reorganization to be submitted to the forthcoming extraordinary session.
The Finance Ministry will not take active part in carrying out the program, but he will give the NIPPON Securities Co LTD (NIPPON SHOKEN), the Investigation Committee for Financial Organizations, and the Dealers Association a completely free hands. The stock market, according to popular desire, will be converted into a membership system, and another institution will be established to administer stock market operations or extend accomodations to the market. Thus, the market will shake off the joke of the Government. The present stock market which is a combination of 11 stock exchanges controlled by the JAPAN Securities Market Law dates its establishment from July 1943. The organization is capitalized at 200 million yen with a function of stabilizing the market. It has failed frequently in performing its assignment in its blind attempt to repress speculations. The following points mast be given fall consideration before the reorganization is put into effect:
Members of the stock exchange would not carry the fall expense of possessing and running the market. The building and their equipment indispensable for stock market operation must come into possession of another company. Efforts should be taken for the avoidance of possible friction between the two.
Some measure must be prepared to guard members against failure to fulfil obligations. The abolition of Government control does not imply disolution. The new market system, whenever necessary, will be subjected to proper control.

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ECONOMIC SERIES: 73 (Continued)
ITEM 3 Food supply is the Key to Coal Production NIPPON SANGYO KEIZAI 13 Dec 45. Translator: AOKI R
Summary:
Without a rapid increase in the production of coal, the nation's postwar industrial activities will be paralized. Accordingly, the Government has established policies affecting the food supply of the miners and their families, the rise in wages, and the supply of new men to take the place of the evacuated Koreans.
The purchase price of coal was raised, and finally, a special administrative board for coal (SEKITAN-CHO) was established. In order to study the effects of such new policies on coal fields, the SANGYO KEIZAI SHIMBUN dispatched reporters to the JOBAN Coal Fields. The result of the study showed that the trouble of coal mines are nothing but a microcosm of the troubles of all NIPPON, the food shortage being the main source of difficulty.
According to a study of the YOSHIMA Coal Mine of the FURUKAWA ZAIBATSU, the normal food requirement of coal miners is 4,000 calories and 110 protein units per day. In contrast to this, the actual supply up to 7 December was 2,800 and 70, respectively. The normal supply corresponds to 7 go in terms of rice but the average actual ration per miner was only 3 go In the case of miners, with families, this is most inadequate.
As of 1 December, the Government decided to distribute 6 go to miners and 3 go to their family members. This step more than any other, has stimulated the miners to work, end now all coal fields are showing increased production, although many other promises remain unfulfilled.
Along with the above Governmental policy, the Company began to distribute additional rations of dried UDON (noodle), and other foods to workers. The result was a marked rise in production, thus the importance of food supply to coal mines cannot be denied. However, in order to instill permanent confidence in these new miners and attract them permanently the authorities must arrange for welfare system for the miners. Such a system must include the establishment of wholesome cultural advantages, and it must also include recognition of the miners autonomous anions, etc.
DISTRIBUTION "X"
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HomePress translations [Japan]. Economic Series 0073, 1945-12-17.
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