Although strong yen is good for our NTA, it is not good for the...

Although strong yen is good for our NTA, it is not good for the exporters, which are the powerhouses of the Japanese economy. I suspect that one of the driver of the yen appreciation is that China is buying more Japanese bonds (US$5.3Billion in June), I would think that they have buy Yen first before purchasing the Yen bonds.

There are a bunch of bad news coming from Japan:
* Stocks Decline as Goldman Sachs Cuts Japan's Outlook, Yen Continues Climb
* Current-Account Surplus Unexpectedly Narrows in Sign Economy Is Slowing
(source: Bloomberg.com)

On AJA, the Kokusai Nihombashi building remaining empty is clearly disappointing. It is almost like the US unemployment: once you lose your job, you will become long term unemployed...

But I still think that we are at the bottom of the cycle, and will continue to hold unless there is any nasty surprise from the FY results. I'd be happy to continue collecting the dividend, or if AJA decides to use the proceeding wisely, for example, expand the portfolio and take advantage of the lower property prices, but definitely NOT repaying debt unless forced by the banks.

Zzup, you changed your ID, did you make a wrong bet again? Just kidding. :)

DYOR.

Snowfree