The Reiwa bump: new imperial era name sends ripples across Japan Inc
01/04/2019 09:13
By Sam Nussey
TOKYO, April 1 (Reuters) - As Japan revealed the name of its
new imperial era on Monday, Internet users rushed to register
domain names linked to the choice, "Reiwa", which also sparked a
jump in name-related stocks.
For weeks, anticipation had mounted over the new era name,
or "gengo," which is used on coins, calendars, newspapers and in
official paperwork, and over time captures a national mood.
Traffic on Japan's largest registration site for website
names surged tenfold after the news. The name, drawn from an
ancient Japanese text, takes effect on May 1, when Crown Prince
Naruhito becomes emperor. urn:newsml:reuters.com:*:nL3N21J0WS
"Most of our (Reiwa-related) domain names have been taken,"
said a spokeswoman for GMO Internet 9449.T , which runs the
website, onamae.com.
The rush of those trying to check the meaning and the
correct way to write the name also disrupted some services at
website alc.co.jp of language service provider Alc Press, a
spokeswoman said.
The first character of the name means "good" and "beautiful"
as well as "order" or "command", while the second means "peace"
or "harmony".
The announcement came a month early so government offices
and companies can update computer software and make preparations
to avoid glitches when the new era begins next month.
When the closely guarded secret was finally announced,
investors spurred a "Reiwa" rise in some stocks.
Shares of book retailer Bunkyodo Group Holdings 9978.T
jumped as much as 29 percent on expectations that Japanese will
buy copies of the Manyoshu anthology of poems that inspired the
name. The stock closed up 4 percent.
Companies with tenuous links to the new name also received a
boost.
Advertising firm Ray Corp 4317.T , whose name sounds like
the first syllable of Reiwa, rose as much at 19 percent before
closing up 7 percent.
Daiwa Industries 6459.T , known in Japanese as Daiwa Reiki
Kogyo, rose 5 percent in heavy volume trade.
Companies outside Japan also experienced the impact.
Western Australian real estate portal REIWA, which runs the
website reiwa.com, said 70 percent of its internet traffic on
Monday came from Japan.
The surge could be an "opportunity to entice migration and
foreign investment back into our state," Chief Executive Neville
Pozzi said in a statement.
(Reporting by Sam Nussey; Additional reporting by Ayai
Tomisawa; Editing by Darren Schuettler)
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