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Study Group for the Promotion of the Internationalization of the Yen (June 30, 2000)[Annex]

StudyGroup for the Promotion of
the Internationalization of the Yen



June30, 2000

Membersof Study Group for the Promotion of
the Internationalization of the Yen

Shujiro Urata, Ph. D. Professor of Economics, School of Social Sciences
Waseda University (Chairman of Sub-Study-group for
Trade and Capital Transactions)
Takeshi Ota Chairman of Advisory Council
Daiwa Research Institute, Inc.
Akira Okuhata Managing Director
The Bank of Tokyo-Mitsubishi, Ltd.
Takatoshi Kato Ex-Vice Minister of Finance for International Affairs
Yasuo Kanzaki Chairman Emeritus
The Nikko Research Center, Ltd.
Hideki Kanda Professor of Law, Faculty of Law, University of Tokyo
(Chairman of Working Party for Research on Settlement Systems)
Chairman Toyoo Gyohten President
Institute for International Monetary Affairs
Takeshi Kondo Corporate Advisor &
Director of the Center for Research & International
Affairs, ITOCHU Corporation
Hajime Shinohara Deputy Governor
Deposit Insurance Corporation of Japan
Koji Hasegawa Managing Director, Toyota Motor Corporation
Ryuji Murai Senior Managing Director
The Dai-ichi Kangyo Bank, Ltd.
Kosaburo Morinaka Executive Managing Director, Sumitomo Corporation
Masahiro Yamada President, Chief Executive Officer
Nissei Asset Management Corporation
Naoyuki Yoshino,Ph.D. Professor of Economics, Keio University
(Chairman of Sub-Study-group for Research on
Currency System)



1. Improvement of Convenience in Procurement and Management of Yen Funds

2. Review of Currency-Denomination Practices in Trade and Capital Transactions

3. Strengthening Asian Regional Cooperation

4. Comprehensive Strategies for the Internationalization of the Yen

Annex 1
  Meetings Outline and Major Findings of the three Sub-Study-groups

Annex 2
  Emergence of the Deutsche Mark as a Foreign-Exchange Intermediating Currency

APPENDIX : Correlation between Yen and Each Asian Currency [PDF]
  1. Results of a Linear Regression Model Analysis
  2. Standard deviation of Each Asian Currency against Japanese Yen or US Dollar
  3. Correlation between each Asian currency and Japanese Yen or US Dollar