＊The three days from August 14 through 16 every year are called as Obon holidays in the city of Tokyo although they are not legal. During the period, the business activities in Tokyo almost stopped. Energetic people left for overseas trips. Those who were working in Tokyo from local towns went back to their homes together with their families by cars, trains and airplanes. The number of people who are staying in the Tokyo Metropolis is the smallest through the year. Those who remain at their homes shut themselves up in their houses due to the abnormal heat. Little pedestrians are on streets and few vehicles are running. The constant noise of city life ( the most of it comes from tire noise of vehicles ) becomes quiet. Sings of cicadas, siren of ambulances and scooters's mechanical noises of postmen are only remaining noises. The central and local governments offices are open as it is not official holiday. The banks, department stores, convenience stores and big-size retail stores, which have big shift pool of workers are open just as usual. But almost all of smaller shops are closed. Of course, hospitals and clinics are open. I visited a bank, a big book store and a clinic. The bank and bookstore had few customers. The clinic was not crowded but I met an emergency patient who claimed he got nettle rash again.
From late evening, TV news began to report the heavy congestion on the up coming lanes of super express highways.
＊While Tokyo is on the rest, the business in New York is active. The "Ｐ" company in the city mailed me a 17 sheets slide presentation (a powerpoint presentation) about Japanese auto manufacturers, especially referring to Honda and Toyota.
Honda's initiation coverage with a Buy rating and $ 26 per US ADR target price ($21 at present), while Toyota's initiating coverage with Hold rating and $56 price target ($51 at present). The reliability and quality of Japanese vehicles are superior. Furthermore, the rising Fed rates will result in cheaper yen (It will bring more profits to them while U.S. auto manufacturers's stock price is very sensitive to rise and fall of Fed rate. If it rises, the price falls down immediately.)
They presented all of their observation in details with tables and charts. I was impressed by their tireless activities in the city of New York.