Showing posts with label Shiozaki Yasuhisa. Show all posts
Showing posts with label Shiozaki Yasuhisa. Show all posts

Wednesday, August 03, 2016

Friends Of Shinzo Cabinet, Take Two

For the first three years of his second premiership, Abe Shinzo surprised many with his restraint and balance. His Cabinets, with a few exceptions, displayed with a mixture of scandal-free operations, diligent policy implementation and submersion of factional and personal rivalries. A deft hand at personnel and calendar management was evident.

Which is what is making the runup to today's announcement of a new Cabinet lineup such a downer. There are too many returnees, too many members of the Seiwakai (Mr. Abe's own faction), too many non-experts being placed as window dressing in posts requiring expertise and too few unfledged MPs getting their first shot at leading a ministry. Most of the first timers will be doubly hobbled because they will not even have a ministry behind them. Instead they will be state ministers shepherded around by the Cabinet Office.

Staying in place are Suga Yoshihide at Chief Cabinet Secretary, Takaichi Sanae at General Affairs, Aso Taro at Finance, Kishida Fumio at Foreign Affairs, Shiozaki Yasuhisa at Health/Pensions/Labor and the Komeito's Ishii Keichi at Infrastructure & Tourism.

Suga Yoshihide is the heart and soul of the Abe administration. Lacking the prerequisites for leadership of the modern LDP and without a thirst for the premiership, he returns to 1) being charge of the bureaucracy, including the recruitment and advancement of the top 600 bureaucrats, 2) being in charge of the Cabinet's work flow and 3) being the chief government spokesman.

Enough for anybody, really.

Takaichi and Shiozaki are Abe loyalists. Both served Abe as cabinet ministers in his first term (2006-07). Aso is something an Abe frenemy. He needs to be kept close even though 1) he cannot fundamentally be trusted and 2) his tongue repeatedly creates controversy.

Entering the Cabinet are Inada Tomomi and Seko Hiroshige. Both are more than mere Abe loyalists: they are sycophants. Seko indeed has played Mini-Me to Abe these past three years (Link), traveling with him around the world, making a particular spectacle of himself in dealings with Vladimir Putin. Both are largely amateurs in the policy areas they will be managing.

The inclusion of Inada and Seko in the Cabinet, combined with the retention of Takaichi and the rumored slide of Abe personal retainer Furuya Kenji into the vacant party post of elections chairman sends a distrubing message -- that Abe, post-House of Councillors 2016, is not in a mood to share with other factions and forces within the LDP. Closeness or service to the party president will be rewarded; all others will just have to lump it.

Loyalty is of course important for rulers. However, so are knowledge and perspective - neither of which sycophants and/or personal debtors can provide. Leadership demands that one restrain oneself, not take all one can, convincing those not in the inner circle that the system has rewards, not just humiliations, for them.

Abe's seeming abandonment of magnanimity and restraint has me worried. Abe put together a similar team of loyalist and fellow travelers in 2006, one which the news media dubbed the "Friends of Shinzo" Cabinet. Their calamitous performances individually and as a Cabinet make me worried about their echo today.


[For my earlier take on the proposed new lineup of the LDP secretariat, click here.]

Friday, October 31, 2014

He Does Well By Himself



The equities markets are in a light froth this morning over the possibility Health, Welfare and Labour Minister Shiozaki Yasuhisa will announce a change in the allocation of assets in the General Pension Investment Fund (GPIF):
Japan Mega-Pension to Shift to Stocks
Announcement for New Portfolio for Fund Expected Friday Afternoon

By Eleanor Warnock -- TOKYO — Japan's welfare minister is likely to approve a new portfolio for the country's ¥127 trillion ($1.2 trillion) pension on Friday, in a move that will have a significant impact on financial markets, according to people familiar with the matter...
(Link)

"Significant impact" means shares have risen, will rise and will keep rising, giving the market indexes a feel-good pop lasting, with any luck, well into the new year.

Minister Shiozaki himself has shareholdings -- and not in a stock fund or a blind trust, either. More than any other member of the Cabinet. Shiozaki says he is a completely passive investor -- which is good, because trading while serving in the Cabinet is verboten. Furthermore he says he only inherited his shareholdings from his maternal grandfather and generally has little interest (kanshin) in stocks.

Still, would it not be interesting, just out of the purest of intellectual motives, to calculate exactly how much today's announcement can be construed as having profited Minister Shiozaki -- i.e., how much more money he has at the end the day than he did at the beginning?

OK, here is the list of Minister Shiozaki Yasuhisa's personal shareholdings as printed in the newspapers on October 18:
Company name / # of shares

Ehime Bank / 150

Taiheiyo Cement / 600

Mitsui Engineering & Shipbuilding / 3,000

Bridgestone / 1,000

Panasonic / 5,620

Teijin / 11,000

Takeda Pharmaceutical / 3,630

SONY / 1,100

Nippon Steel & Sumitomo Metal / 19,747

NTT 102

Harima Chemicals Group / 1,000

Chubu Electric Power / 1,769

Tokyo Electric Power / 1,659

Denso / 1,100

Oji Holdings / 1,100

Fujitsu / 3,348

Asahi Glass / 2,205

ANA / 13,119

Miura / 2,000

Hitachi / 4,200

Kashima / 5,347

Mitsukoshi-Isetan / 2,268

JX Holdings / 1,500

Shonan Belmare (the soccer club) / 5

C-Net / 4

The answer is: ________________?


Later - Yow! Mr. Shiozaki gotta a little help from his friends! (Link)

A very happy camper he must be.