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Press translations [Japan]. Economic Series 0252, 1946-02-03.
Supreme Commander for The Allied Powers. Allied Translator and Interpreter Section.

translation-number: economic-1097

call-number: DS801 .S81



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GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
ALLIED TRANSLATOR AND INTERPRETER SECTION
PRESS TRANSLATIONS
No. 1097 Date: 3 Feb 46

ECONOMIC SERIES: 252

ITEM 1 Plan of Economic Association Worked Out - Asahi Shimbun - 1 Feb 46. Translator. T. Mitsuhashi.
Full Translation:
The plan for as Economic Association Law (KEIZAI-KUMIAI-HO) to succeed the present Commercial and Industry Association Law (SHOKO-KUMIAI-HO) which is to be submitted to the next Extraordinary Diet Sesseion, was mapped out by the Ministry of Commerce and Industry, and discussed at the Parliamentary Councillors' Meeting (SANYO-KAI) on 30 January. The new Economic Association is composed of the Economic Association and the Economic Control Association(TOSEI-KEIZAI-KUMIAI) The Association will unite commerce, industry, and mining to rationalize management, and will create a. joint institution for mutual benefit, as well as establish independent central.
The structure of the law is as fellows: Duties of the organization:
Assistance for the members' businesses in buying processing, custody and transportation of goods to be handled.
Control over the members' businesses
Inspection of a members' business
Loaning funds, guarantee of debts and dealings in savings. In carrying out these tasks, the control regulations can be set up through permission of the administrative office.

Organization:
The Economic Association will consist of businesses of a similar type or of businesses of two or more types.
Qualifications for memberships are that persons or organizations engage in business, as provided for in the articles of the association.
In establishing the Economic Association the region is to be fixed first. The articles of the association and appointment of the staff are to be decided on at its organization meeting which is to be held with the approval of a majority of the qualified members in that region, and with the permission of the administrative office. If a local Economic Association which does not aim to fulfill these task is established, the persons who are to become its members must form the articles of the association as its foundation, and file it at the administrative office.
A member can resign from the Association by giving notice at the end of each fiscal year. The Association cannot, without a justifiable reason, refuse the entrance of qualified persons.
The dissolution of an Association is to be made as provided in the articles: by decision of the general meeting, merging of associations, bankruptcy, and/or a directive of the administrative office.

Accounts:
Members should invest more than a small amount of money. As for the Economic Control Association, the articles of the association can provide that the member need not invest money.



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ECONOMIC SERIES: 252 (Continued)

ITEM 1 (Continued)
The Association can impose expenses on members.
The Association can demand forfeits from those who offend the articles of the Association or the control regulations.

Agencies:
A general meeting or a meeting of representatives is to be held as an agency for decisions.
The right of demand, by the member, to call a general meeting or a meeting of representatives will be recognized.
Set-up and change in the articles of the Association and the control regulations, dissolution of the association, and estimation as well as imposing a method of expenses are required to be decided on at a general meeting or a meeting of representatives.
The Economic Association shall have an executive consisting of directors and auditors as provided in the articles of the association.

Aids: The Economic Association shall be exempt from property, corporation and business taxes.
Economic Control Guild (KEIZAL-TOSEI-KUMIAI):
The administrative office can direct qualified members in a certain region to enter the Economic Association which aims to carry out the foregoing task, or to assign a region as well as qualified members to establish the Economic Association which intends to carry out the foregoing tasks. Such associations must use the words "Economic Control Association"
The right of the Economic Control Association to collect a compulsory imposition or forfeit will be recognized.
The dissolution of the Economic Control Association is to be made by permission or directive from the administrative office.

ITEM 2 Standard Electric Frequency will Be Decided Soon - Asahi Shimbun - 1 Feb 46. Translator: T. Mitsuhashi.
Full Translation:
The basic measures for standardizing electric frequency will be decided within a few days on the inquiry advanced by the Ministry of Commerce and Industry. The 60 cycle standard was agreed upon at an informal meeting of officials and civilians held during September and October 1945. An Electric Frequency Standardization Investigation Committee (SHUHASU TOITSU JUMBI IINKAI) which was created by the decision of the year-end Cabinet Meeting, has begun to investigate standard electric frequency, practical plans for the conversion of electric frequency, and required materials, expenses, time, and workers for the conversion, in the three special committees under chairman ARAI, president of the JAPAN Electric Power Generation and Transmission Co. (NIPPATSU). As an interim report of the investigation is expected to be submitted to the committee at the end of February, the plan for further investigation will be determined by the report, and a final decision on the answer to the Ministry of Commerce and Industry will be deliberated at the Committee meeting to be held at the beginning of March. The 60 cycle standard has been highly approved in the course of the investigation as well as the intention of civilians. It is believed that conversion requires about two years, or five years for the entire work throughout the country.
ITEM 3 Reorganization of the Stock Exchange - Tokyo Shimbun - 2 Feb 46. Translator: R. Aoki.
Full Translation:
The Ministry of Finance is preparing to present a draft of a law for reorganization of the stock exchanges at the next session of the Diet.
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ECONOMIC SERIES: 252 (Continued)
ITEM 3 (Continued)
The draft is based upon the study of the Financial and Monetary Research Committee which has recently completed its study of the subject. The bill will be composed of two major parts, namely the revision of the existing Exchange Act and the abolition of the JAPAN Security Exchange (NIPPON SHOKEN TORIHIKIJO) Special Act. The forthcoming bill will embody such items as the following.
Repeal the JAPAN Security Exchange Special Act and revise the Exchange Act which has been under fire since the enactment of the said Security Exchange Act during the war. The main feature of revision is to have the exchange operate by the association of brokers, instead of by joint stock companies. The exchange will establish offices in specified principal cities.
Establish an exchange auxiliary company which will own and lend the exchange buildings. This company may also finance the brokers.
Suspend the short term exchange thereby limiting transactions to the long term and exchange of actual securities. The short term exchange has involved speculative elements more than the other the two types of trading.
Brokers, as members of the Exchange association, will have to share greater responsibilities. Therefore many small brokers may be disqualified because of the tightened qualification requirements.
ITEM 4 300 Million Kan of Sweet Potatoes Will Be Delivered - Nippon Sangyo Keizai - 2 Feb 46, Translator: T. Kitagawa.
Full Translation:
According to the investigation made by the JAPAN Potato Company (NIPPON IMO-RUI KAISHA), delivery of sweet potatoes for 1946 is predicted to be satisfactory. Of the crops for the month of December and January including KYUSHU, the probable total delivery is estimated at 330 million kan, This amount, though, is 100 million kan short of schedule, it is at the same time an increase of 60 million kan over the previous year. Meanwhile, the program f o r the output of 29 million kan of dried sweet potatoes was seriously started in January. This has been obstructed by labor situation, however, and non - official price sales. The maximum figure for purchase is estimated roughly at 20 million kan.
ITEM 5 National Property Disposal Committee Will Be Organized in March - Nippon Sangyo Keizai - 2 Feb 46. Translator: Mitsuhashi.
Full Translation:
About 70 or 80 per cent of national property under the jurisdiction of the former army and navy, which is estimated at around ten billion yen according to its ledger, have been opened for the temporary use of civilians. Now that the regular sales of these properties and other property is urged under the present social and economic conditions, the Ministry of Finance have decided to set up a National Property Disposal Committee (KOKUYU ZAISAN SHORI IINKAI) before the reform bill of the National Property Law (KOKUYU ZAISAN-HO) is submitted to the Extraordinary Diet sessions which is due to convene at the end of April.
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ECONOMIC SERIES: 252 (Continued)
ITEM 5 (Continued)
The Minister of Finance will become chairman of the Central Committee, and the chief of the Financial Business Bureau (ZAIMU-KYOKU) will be chairman of the Local Committee, and experts from all quarters will be appointed as members. Appraisal as well as limitation of the property for sale, and assignment of the purchaser will be discussed and decided at the Committee. The method of free contract, instead of competitive bidding, will be utilized as permitted by the existing Account Law. The property in local districts will be disposed of in each district in as large amounts as possible, and the limit of sales by the chief of the Financial Business Bureau will be raised from 20,000 yen to a 200,000 yen level.
DISTRIBUTION: "X"
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HomePress translations [Japan]. Economic Series 0252, 1946-02-03.
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