Japan Diary | PM hands out Padma Shri to Japanese scholar

Noburu Karashima bagged the award for contribution in literature and education

Hotel Oreku in Tokyo was the venue of an unusual ceremony on Tuesday: Prime Minister Manmohan Singh conferred the Padma Shri award on Noburu Karashima, an eminent Japanese scholar, for his contribution in literature and education.

Karashima, who had spent several years as a Research Scholar and is an acknowledged authority on medieval South Indian inscriptions, could not be present for the award ceremony in New Delhi last month for health reasons.
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As the prime minister and the amiable professor bowed to each other, there was a standing ovation from the 1,000-plus crowd.

Rich House

It's not the Japanese economy alone that is feeling good about Abenomics. The elected representatives are feeling good too. According to a weekly survey, the assets of the Lower House lawmakers have grown for the first time since 1993. Since the previous survey in 2010, the average value of assets held by the 184 lawmakers has nearly doubled to Yen 22.90 million.

Low stock

Nikkei has been down over the past few days after a stupendous rise ever since 'Abenomics' came into being. But it seems the average Japanese couldn't care less. Shares represent only 7 per cent of household financial assets, compared with more than one quarter in the US. Four-fifths of Japanese households have never owned a security and 88 per cent have never invested in a mutual fund, according to the Japan Securities Dealers Association. Indians are in good company.