TABLE-Japan firms give BOJ's Kuroda middling marks, want negative rates revised

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Rocky Swift TOKYO, Feb 24 (Reuters) - Most Japanese firms gave outgoing Bank of Japan Governor Haruhiko Kuroda middling grades for his decade of leadership, according to a Reuters monthly poll, as markets look for signs of how the next central bank chief may unwind unprecedented easing policies.


Below are the questions and answers in the poll, conducted from Feb. 8-17 for Reuters by Nikkei Research. Answers are denoted in percentages. Percentage totals for a given question may not come to exactly 100%, due to rounding. The "polled" and "replied" figures are in absolute terms. A total of 493 companies responded to the latest survey. 1. How do you grade the performance of BOJ Governor Haruhiko Kuroda over the past 10 years? (Pick one) 0-20 21-40 41-60 61-80 81-100 Polled Replied All 5% 9% 46% 35% 5% 400 220 Manufacturers 4% 11% 47% 30% 7% 200 116 Non-manufacturers 6% 7% 45% 39% 3% 200 104 2. What policies influenced your grade for Kuroda? (Pick as many that apply) Low interest rate Halted Stock gains Corrected Supported Excessive yen Dysfunction of environment deflation excessive economic recovery depreciation financial markets yen strength
All 53% 12% 21% 16% 28% 29% 18% Manufacturers 57% 12% 21% 19% 32% 29% 17% Non-manufacturers 48% 13% 21% 12% 24% 28% 20% (continued) Supported fiscal Failed to achieve 2% Sluggish growth/support Decline in BOJ Polled Replied expansion inflation target of "zombie" companies independence
All 8% 26% 20% 14% 400 217 Manufacturers 8% 26% 21% 14% 200 115 Non-manufacturers 8% 26% 20% 14% 200 102 3. What policies would you like to see from the new BOJ regime? (Pick as many that apply) Maintain Revision of Rethink joint Widen trading Modify Scrap yield Other Polled Replied current 2% price statements with band for negative rate curve control


policies target government long-term policy (YCC)


rates
All 21% 28% 20% 18% 47% 9% 3% 400 217 Manufacturers 24% 30% 20% 17% 46% 10% 2% 200 114 Non-manufacturers 18% 26% 20% 18% 48% 9% 5% 200 103 4. Would normalisation of monetary policy be positive or negative for your company? (Pick one) Positive Negative Neither Polled Replied All 10% 28% 62% 400 228 Manufacturers 12% 26% 62% 200 119 Non-manufacturers 7% 30% 62% 200 109 5. Does your company allow full-time employees to have side jobs? (Pick one) Allowed Considering implementation Not allowed Polled Replied All 23% 10% 67% 400 238 Manufacturers 18% 8% 74% 200 121 Non-manufacturers 27% 12% 61% 200 117 6. For those who answered "Allowed", how many employees have side jobs? (Pick one) Less than 10% 10%-20% 20%-30% 30%-40% 40%-50% More than 50% Polled Replied All 94% 6% 0 0 0 0 400 52 Manufacturers 95% 5% 0 0 0 0 200 21 Non-manufacturers 94% 6% 0 0 0 0 200 31 7. What do you see as the pros and cons of allowing side jobs? (Pick as many that apply) Diversity of work Flexible career New business Ensuring Increase Retain talent styles development and innovation objectivity employee income
All 54% 53% 29% 24% 46% 19% Manufacturers 53% 50% 33% 24% 45% 22% Non-manufacturers 54% 55% 26% 24% 47% 15% (continued) Disruption to Long working Loss of talent Other Polled Replied core business hours concerns
All 57% 43% 32% 3% 400 231 Manufacturers 53% 46% 29% 1% 200 119 Non-manufacturers 62% 39% 34% 4% 200 112 8. What is your policy on rehiring employees who have left the company? (Pick as many that apply) Actively Implement as Institutionalising Other No particular Polled Replied implement needed reemployment policy
All 11% 63% 9% 5% 18% 400 237 Manufacturers 7% 68% 10% 4% 19% 200 122 Non-manufacturers 16% 57% 9% 6% 17% 200 115 9. How are current business conditions at your company? (Pick one) Good Not so good Bad Polled Replied All 20% 66% 14% 400 244 Manufacturers 15% 65% 20% 200 127 Non-manufacturers 26% 66% 9% 200 117 10. How do you expect business conditions to be by the end of May? (Pick one) Good Not so good Bad Polled Replied All 20% 71% 9% 400 244 Manufacturers 17% 71% 13% 200 127 Non-manufacturers 24% 71% 5% 200 117 (Reporting by Rocky Swift; Editing by Alison Williams)

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