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2014 TOKYO - PARIS EUROPLACE International Financial Forum - “Europe: Investment Yields and Road for the Future.”

On the occasion of its 18th Annual Financial Forum in Tokyo November 25th 2014, Paris EUROPLACE, the organization promoting the Paris International Financial Center, gathered 600 representatives from corporates, investors and financial intermediaries, and exposed to key representatives from the Japanese financial industry the new growth and investment opportunities in Europe and in France.

Emmanuel Macron, French Minister for the Economy, Industry and Digital Affairs, underlined the new priorities for the French Government: First, fix the public finances with a plan to cut French public spending by 50 billion euros over three years. Second, to reduce labour cost for companies by adopting tax and social security reductions of more than 40 billion euros over three years. Third to promote investment and innovation: And,” I am planning to open up some concrete initiatives to international investors.”

Satoshi Oie, Parliamentary Vice-Minister for Finance said that in order to bring the Japanese economy out of the long-lasting deflation and put it back on a strong economic growth path, the Government of Japan will vigorously continue to pursue “Abenomics” policies. ”And, Japan and France are strong partners fundamentally sharing common values.

Christian Noyer, Governor of Banque de France, underlined that the ECB Governing Council has unanimously stated that, “should it become necessary to combat persistently low inflation in Europe, it is committed to using additional unconventional instruments within its mandate”. The Governing Council has also indicated that it now expects its balance sheet to get back towards the size it had in early 2012. That would imply an increase of around 1 trillion euros.

Hiroshi Nakaso, Deputy Governor, Bank of Japan, said that the pursuit of unconventional monetary actions would inevitably boost the central bank’s presence in the financial markets and create a resulting tradeoff between the intended policy consequences and the functioning of financial markets. To minimize the potential side effects on market functioning, the central bank should be committed to continuous dialogue with the market.

Arnaud de Bresson, CEO, Paris EUROPLACE, has underlined that since recent months new positive trends are on the way with the announcement of positive results by European as well as French corporates, and the acceleration of the ECB QE policy. In that context, global investors – as well as Japanese – are rebalancing their portfolios from the US and emerging markets towards European, which offers better safety as well as more diversified yields.

On the fixed income side, French Government securities offer attractive spreads and the Japanese investors have increased their purchases. And new growing markets, like corporate bonds, for which Paris represents à 35% of the European market share, as well as €uro PP and securitization offer attractive investment yields. And on the equity side, the last September 2014 good results of French companies and their still undervalued valuation offer good opportunities to international investors.

Jacques Aschenbroich, CEO, Valeo, confirmed the good performance and attractiveness of the French corporates, with an important presence in Paris of international leaders in their respective industrial sectors and a majority of French companies largely involved in international markets. And these large companies, like Valeo, which develop wide international activities are looking for a good representation of international shareholders, including Asian and Japanese.

Next Finance , November 2014

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