Raw Japan

Slices of Japanese business, politics and life

Day one speed bumps

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Japanese Prime Minister Yukio Hatoyama‘s first official day on the job has come with lots of media attention, photo opportunities and the first couple of speed bumps for his administration.

The contrast with his predecessor was clear from the TV coverage. All but one of the major channels in Tokyo carried him live. Leading up to his election drubbing last month, former Prime Minister Taro Aso could not always get his pressers carried live even on national broadcaster NHK.

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Yet amid the ritual and grand opening statements, one minister gave an already strengthening yen another kick up, while a second pushed down the shares in Japanese banks — both before they’d been officially announced and sworn into their new jobs.

Banking and financial services minister Shizuka Kamei was the first to move markets.

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