The company has the gas concession of a gas field which is in Senkaku Island chain. After we discovered the gas field, China began to claim sovereignty over the island chain but Japan has been ruling the island chain and furthermore some of them are private property of Japanese people. The gas field is cross-border.
As to the gas field, Japan and China acceded to co-develop. But China is solely mining it without permission now. Japan gave the company the gas exploration rights. And Chinese SWF bought their stocks. What does it mean? Why China bought their stocks? It is a security issue. It can mean Japan gave China the the gas exploration rights. They bought not all stocks but ８% or so, as I recall.
In addition, in fact, Japan's pension fund is the largest SWF in the world but there is a matter of definition and Japan's one is not regarded as the largest. Also Japan's post-office savings funds were the largest in the world but it was made private last year. Also now Japan are planing t establish another big SWF. NIKKEI is bearing up Sub Prime mess because Japan's Pension Funds is buying Japanese stocks now. It already has become bargain prices though.
Japanese government doesn't have a policy to maintain stock prices and people sniffs investors, and prices are plunged, then China got a big chance to buy the stocks at low price. Japanese are smartest people in the world, indeed. My feeling is that Japanese people confided in mass medias too much. They confuse extreme money-mad investors and others. And also I can say Japanese people don't have confident in Japan's future hence they don't buy stocks. However, their forecast is wrong, I think. As above there were other causes to plunge, basically Sub-Prime-Mess happened in Western countries, but it is sure Japanese did bargain sale. They would do bargain sale again. China can buy latest technologies at cheep price. It is said now China is planning to invest to other Japanese companies.
Some analysts say SWF are safe. But it is sure SWF can have a political purpose. Many technologies can be diverted to military use too.
Several years ago, Chinese submarine violated Japan's territorial sea. But Japan did nothing. If I was a prime minister, I never failed to seized the submarine or overwhelmed it. I think this kind of Japan's reacting was a cause of the rude attitude of China.
The pic published by Pentagon explains China wants to expand their naval supremacy to the area. Hmm, Okinawa is China? Furthermore, Osaka Bay is China's? I guess Pentagon blowed it out of proportion to get budget though.
Oh, I have to go.
Have a nice day.
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