经济学人192:进军海外 以强势日元攻破海外市场
时间:2019-02-16 作者:英语课 分类:经济学人商业系列
英语课
Business
商业报道
Japanese firms shop abroad
进军海外
Armed with a strong yen 1
以强势日元攻破海外市场
Why Japan Inc has been going on a foreign spree
为何日本企业转而血拼海外
MR TICKLE 2 and Mr Bump are leaping into bed with Hello Kitty.
奇先生与妙小姐中的挠痒痒先生和莽撞先生癞蛤蟆想吃天鹅肉,蹿上了凯蒂猫的床。
Sanrio, the owner of the bow-adorned feline 3, said on December 6th that it had acquired the Mr Men franchise 4 from Chorion of Britain.
三丽欧公司是戴蝴蝶结猫的主人,该公司于12月6日说其已从英国购买了奇先生的特许经销权。
The deal, for an estimated 3 billion,brings the Japanese design and licensing 5 firm 86 playful characters who have delighted toddlers in 30 countries and shifted 100m books.
这次交易估计价值为30亿日元使得日本这个设计和经销公司拥有了86个曾给30个国家幼儿带去欢乐的幽默好玩的人物。该书在市面上售出上亿本。
Corporate 6 Japan is on an overseas shopping spree.
日本的公司在海外疯狂地进行兼并扩展。
Japanese firms spent a record $80 billion on some 620 foreign companies in 2011, according to Dealogic, a firm that measures such things, exceeding the previous record of 466 deals worth $75 billion in 2008.
据专门衡量公司并购的研究机构迪罗基表示,2011年日本公司耗资800亿美元收购了620个左右的外国公司,从而打破了2008年创下的750亿美元购得466企业的历史记录。
When Japan Inc went shopping abroad in the 1980s, it was a sign of strength.
二十世纪八十年代,日本公司往海外开疆拓土时,那时是国力强盛的标志。
Japanese companies were spreading their wings because they were growing. This time, it is a symptom of weakness.
这次是其国力衰退的征兆。
The past year in Japan has been wretched.
过去的一年对于日本来说是凄凄惨惨的一年。
An earthquake and tsunami 7 in March wrecked 8 factories and disrupted supply chains, creating shortages of all sorts of crucial components 9. Radiation fears hurt exports.
今年3月发生的地震和海啸摧毁了工厂使供应链瘫痪,导致各种关键零部件严重短缺。
A strong yen walloped profits.
人们对幅射的担忧影响了出口。
Floods in Thailand interrupted the distribution of electronics and car parts.
坚挺的日元蚕食了利润。泰国的洪水中断了对电子和汽车部件的配送。
Corporate-governance scandals cast a black cloud over blue suits nationwide.
公司、政府丑闻层出不穷,像乌云黑压压地笼罩在这个岛国上空。
The Japanese population is ageing and shrinking.
日本的人口在老化缩减。
The economy is sluggish 10. Consumption is lacklustre.
经济不景气。消费萎靡不振。
So Japanese firms find it nearly impossible to expand domestically.
故日本公司在国内几乎找不到可以扩展的地方。
At the same time, thanks to crises elsewhere in the rich world, the yen is extraordinarily 11 strong.
同时,幸亏其他发达国家的经济危机,日元非常地坚挺。
It has appreciated by 45% against the dollar in the past four years.
在过去的四年中,日元对美元已升值45%。
And having learned thrift 12 during their own banking 13 crisis a decade ago, Japanese firms are flush:
日本从其十年前的银行危机中学到了节约开支的教训,日本公司利润丰厚:
big listed companies are sitting on a cash pile of ¥60 trillion.
大的上市公司坐拥价值60万亿的现金。
With all this buying power and few opportunities at home, it is hardly surprising that Japanese firms are snapping up foreign companies, especially in fast-growing emerging economies.
随着国内购买力低迷和机会减少,日本到处抢滩海外市场尤其是高速发展的新兴经济体则不足为奇。
Unless we grow we're not able to stay alive simply by staying in Japan,
若国内有市场,我们则仍继续呆在日本求生存。
explains Tadashi Yanai, the boss of Uniqlo's Fast Retailing 14, a big clothing firm.
服装巨头优衣库的老板柳井正解释道。
The time is ripe for foreign deals, he chirps 15.
他感叹道向海外进军的时机成熟了。
The economic crises in America and Europe have pummelled share prices, making companies cheaper to acquire.
美国和欧洲的经济危机使公司股票严重缩水,使得收购公司易于反掌。
Back in the 1980s Japanese firms hunted trophies 16 such as golf courses and film studios.
回顾二十世纪八十年代,日本公司海外扩张的战利品包括高尔夫球场和电影制片厂。
Now they are taking a more pragmatic approach, buying solid firms in fast-growing markets and filling gaps in their product lines.
现在他们采取更务实的策略,即从高速增长的市场中购买实体工厂以填补其生产线的空白。
For example, Kirin, a big Japanese brewer 17, is acquiring a majority stake in Schincariol, a Brazilian one, for $2.6 billion.
例如,日本的啤酒制造巨头麒麟啤酒以26亿美元的代价获得了巴西的Schincariol公司的股份控制权。
The Japanese beer market is flat; Brazil's is growing by 10% a year.
日本的啤酒市场非常平淡;巴西的啤酒以年均10%的速度在增长。
The biggest deal of the year was when Takeda, a Japanese drug firm, bought Nycomed, a Swiss one, for 1 trillion.
今年最大的并购当数日本的医药公司Takeda以1万亿日元将瑞士药厂Nycomed收入旗下。
Almost 40% of Nycomed's sales are in emerging markets.
新兴市场占据了Nycomed将近40%的销售。
Japanese trading houses are hungrily buying energy projects, especially those involving shale 18 gas.
日本商行迫不急待出手能源项目尤其是涉及到页岩天然气的项目。
This year they spent $10 billion, up from less than $3 billion in 2010.
今年他们在这些项目上的投资从2010年的不到30亿美元上升到100亿美元。
The pace of such deals accelerated after Japanese nuclear-power plants were suspended following the nuclear accident at Fukushima in March,
在今年3月福岛核事故发生后,日本原子能工厂项目被中止,使得许多日本人担心国内能源供应。
which made many Japanese worry about their energy supply.
故日本加大了收购海外能源的步伐。
Toshiba spent $1.6 billion on Landis+Gyr, which makes smart electricity meters for homes.
东芝在制造家用智能电表Landis+Gyr身上投资了16亿美元。
Sony paid $8.4 billion for control of its cellphone venture, Sony Ericsson, a stake in the record label EMI and other stuff.
索尼花了84亿美元以控制手机企业索爱,且获得了百代唱片公司和其他公司的股份。
This time really is different
这次是真的与往昔不同
In the past, Japanese firms would parachute in bosses from Tokyo to run the show.
在过去,日本公司从东京空降一批高层来接管新兼并的企业,
Many were monocultural and mediocre 19.
很多高层人员近亲繁殖,水平一般。
Now, Japanese firms wisely rely on local talent.
现如今日本公司明智地依赖当地人才。
Many of the new generation of Japanese executives have lived and worked abroad,
许多新一代的高管们具有在国外生活和工作的经验。
notes Shinsuke Tsunoda, the head of mergers 20 and acquisitions in Japan at Nomura, a Japanese securities house.
值得留意的有野村证券交易所并购的Shinsuke Tsunoda领导。
This means they are more comfortable doing deals with foreigners, and they are better at integrating the foreign firms they buy with their new Japanese owners.
这意味着这些高层人员与外国人打交道更舒服,而且他们能更好地整合所并购的海外企业而非本国企业。
The foreign shopping spree is internationalising Japanese industry by the back door.
抢滩国外市场使日本企业使通过幕后交易达到国际化目的。
Japan Inc is acting 21 like a massive sovereign-wealth fund, placing its money abroad to earn investment income at home.
日本公司就像巨大的主权财富基金,将钱投资于国外为本国获得投资收入。
When old people retire, they tend to live off their savings 22.
当老人退休后,他们凭储蓄度日。
They supply capital to younger, sprightlier 23, cash-strapped folk, who put it to work and pay dividends 24 or interest to the retirees.
并为年轻有为,朝气蓬勃且资金拮据的新一代提供资本用于投资。年轻人则支付红利或利息给退休人员。
That is, roughly speaking, what Asia's ageing archipelago is starting to do.
大致说来,这正是这个日益老龄化的亚洲群岛正开始做的事。
1.leap v.跳跃;跃过
I leap for joy at the good news.
我一听到这个好消息高兴得跳了起来。
2.acquire v.获得;学到
We should try to acquire good habits.
我们应该努力养成良好的习惯。
3.estimate v.估计;估价;评价
This is an outside estimate of the price.
这是最高的估价。
4.measure n.措施;量度;尺寸
The government has taken measures to restrain inflation.
政府已采取措施控制通货膨胀。
5.strength n.力气;强度;力量
I have hardly enough strength left to move my feet.
我连移动双脚的力气都几乎没有了。
n. 日元;热望
- He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
- He has a yen to be alone in a boat.他渴望独自呆在一条船上。
v.搔痒,胳肢;使高兴;发痒;n.搔痒,发痒
- Wilson was feeling restless. There was a tickle in his throat.威尔逊只觉得心神不定。嗓子眼里有些发痒。
- I am tickle pink at the news.听到这消息我高兴得要命。
adj.猫科的
- As a result,humans have learned to respect feline independence.结果是人们已经学会尊重猫的独立性。
- The awakening was almost feline in its stealthiness.这种醒觉,简直和猫的脚步一样地轻悄。
n.特许,特权,专营权,特许权
- Catering in the schools is run on a franchise basis.学校餐饮服务以特许权经营。
- The United States granted the franchise to women in 1920.美国于1920年给妇女以参政权。
v.批准,许可,颁发执照( license的现在分词 )
- A large part of state regulation consists of occupational licensing. 大部分州的管理涉及行业的特许批准。 来自英汉非文学 - 行政法
- That licensing procedures for projects would move faster. 这样的工程批准程序一定会加快。 来自辞典例句
adj.共同的,全体的;公司的,企业的
- This is our corporate responsibility.这是我们共同的责任。
- His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
n.海啸
- Powerful quake sparks tsunami warning in Japan.大地震触发了日本的海啸预警。
- Coastlines all around the Indian Ocean inundated by a huge tsunami.大海啸把印度洋沿岸地区都淹没了。
(机器、设备等的)构成要素,零件,成分; 成分( component的名词复数 ); [物理化学]组分; [数学]分量; (混合物的)组成部分
- the components of a machine 机器部件
- Our chemistry teacher often reduces a compound to its components in lab. 在实验室中化学老师常把化合物分解为各种成分。
adj.懒惰的,迟钝的,无精打采的
- This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
- Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。
adv.格外地;极端地
- She is an extraordinarily beautiful girl.她是个美丽非凡的姑娘。
- The sea was extraordinarily calm that morning.那天清晨,大海出奇地宁静。
adj.节约,节俭;n.节俭,节约
- He has the virtues of thrift and hard work.他具备节俭和勤奋的美德。
- His thrift and industry speak well for his future.他的节俭和勤勉预示着他美好的未来。
n.银行业,银行学,金融业
- John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
- He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
n.零售业v.零售(retail的现在分词)
- career opportunities in retailing 零售业的职业机会
- He is fond of retailing the news. 他喜欢传播消息。 来自《简明英汉词典》
鸟叫,虫鸣( chirp的第三人称单数 ); 啾; 啾啾
- The linnet chirps her vernal song. 红雀吱喳鸣叫着她春天的歌。
- She heard nothing but the chirps and whirrs of insects. 除了虫的鸣叫声外,她什么也没听见。
n.(为竞赛获胜者颁发的)奖品( trophy的名词复数 );奖杯;(尤指狩猎或战争中获得的)纪念品;(用于比赛或赛跑名称)奖
- His football trophies were prominently displayed in the kitchen. 他的足球奖杯陈列在厨房里显眼的位置。 来自《简明英汉词典》
- The hunter kept the lion's skin and head as trophies. 这猎人保存狮子的皮和头作为纪念品。 来自《现代英汉综合大词典》
n. 啤酒制造者
- Brewer is a very interesting man. 布鲁尔是一个很有趣的人。
- I decided to quit my job to become a brewer. 我决定辞职,做一名酿酒人。
n.页岩,泥板岩
- We can extract oil from shale.我们可以从页岩中提取石油。
- Most of the rock in this mountain is shale.这座山上大部分的岩石都是页岩。
adj.平常的,普通的
- The student tried hard,but his work is mediocre. 该生学习刻苦,但学业平庸。
- Only lazybones and mediocre persons could hanker after the days of messing together.只有懒汉庸才才会留恋那大锅饭的年代。
n.(两个公司的)合并( merger的名词复数 )
- Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种:横向合并,纵向合并和混合合并。 来自辞典例句
- Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务,在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件
n.演戏,行为,假装;adj.代理的,临时的,演出用的
- Ignore her,she's just acting.别理她,她只是假装的。
- During the seventies,her acting career was in eclipse.在七十年代,她的表演生涯黯然失色。
n.存款,储蓄
- I can't afford the vacation,for it would eat up my savings.我度不起假,那样会把我的积蓄用光的。
- By this time he had used up all his savings.到这时,他的存款已全部用完。
标签:
经济学人