Message of the Group Chairman news and topics 2009/01/26 Yushodo -meeting the global crisis head on ! The sudden financial and trading crisis that swept the US during the latter half of last year originated within large and well-established companies. The impact and repercussions are well known by us all. How severe this crisis will be and over what length of time it will take to recover business confidence is still not fully grasped. All we know is that this particular crisis has affected so many businesses and peoples all around the world; no country or business is immune within the global economy. Here in Japan, it might appear that we were not so seriously impacted by the crisis. Everybody attributes the reason for this to be our strong currency. Yes, no doubt with that factor in mind, we are in a strong position to go overseas and acquire assets and materials. Yet, equally, the asset strength of our own stock items has diminished proportionaly to the fluctuation in currency exchange. Some Japanese companies are already feeling the effects of this crisis. There is no doubt that the fallout will gradually creep into Japanese daily life and into all business areas. In Yushodo we are all set to endure the turmoil that I can already predict will happen in both the publishing and library markets here in Japan over the next two to three years. Yushodo has passed through great turmoil in its long history and even during the time that I have been at its helm, I have witnessed global market shifts that at first seemed to be threatening and a calamity to our business. As a small specialist firm, however, we have been able to successfully steer our way through those past problems and come out the other side all the stronger for the experience. None of the disasters I have lead the company through in the past compare anything like the current situation; I am however confident that some of the indicators this time around can be turned to our advantage. I feel confident that Yushodo can find its path through this severe global situation. With the backdrop of the global business crisis perhaps this article can serve as an opportunity to look at some indicators - good and bad - as a means of steering us through the inevitable impact on publishers, libraries and the international book trade industry. Yushodo was very active during the second half of last year and I would like to report on some of the events we participated in. I will take this opportunity to also offer my opinions and observations. As always, I welcome your comments whether you support or oppose my viewpoints. ILAB (International League of Antiquarian Booksellers) Congress. [Madrid, Spain]: I attended the Congress as a member of the League of Honour, and also as the Chairperson of the International Bibliography Prize Committee. The main themes of the Congress were, i) “How should we use IT for the selling and buying of rare books”. The discussion was varied, but always returned to the main subjects of what makes a good and effective Home Page, how can individual dealers hold their own in the Internet era, and the collaboration with the search engine providers to maximize exposure. The main conclusion to this topic was: The Internet levels the playing field and enables everyone from large organisations to individuals to start trading from anywhere in the world without the need for a large shop or to be located in a city. Everyone accepted that the traditional face-to-face selling is no longer the only way rare books will be traded. Even with the advantages of Internet the conclusion was still that the rich dealers and dealers holding valuable stock inventories had an advantage, but even with that the profit margins would be reduced as buyers become more savvy and confident in their position. 10th Library Fair and Forum [Yokohama, Japan]: This Library Fair was held in November and, as the title implies, it was the tenth year that we have held this annual Library Fair. It is organised by one of our group companies, Japan Cultural Corporation (JCC) and we were very encouraged by both the support of the publishers, information providers and University Libraries who participated in the vendors’ exhibition. The Library Fair was bigger than the preceding years and it had a few minor enhancements. There were over 20,000 visitors to the Library Fair and many of whom also attended the approximate 50 seminar lectures. Publishers, Library service providers, equipment manufacturers, IT companies, Libraries, and Library Associations used this forum to present their varied offerings and topics. This event was also well supported by non-Japanese, International companies who had used this opportunity to also introduce or promote their products and services to Japan. Certainly, the Library Fair and Forum has evolved into the most important Library event in Japan. The benefit to us is that JCC is more widely accepted and recognised as an important service provider to the Japanese Library community. This has, surely, boosted their confidence to try to develop their core businesses as well as to enhance the 11th Library Book Fair and Forum to build upon the success of this recent event. 10th Library Fair and Forum Yushodo booth There were two aspects of the Library Forum that I feel noteworthy to share here. First, one of the newly introduced topics was an opportunity for Government and University researchers to participate in an Open Summit. ‘Open’ had many meanings, in that the summit was an ‘open’ invitation to anyone who wanted to discuss their research works and findings. It was also ‘Open’ in the sense that by revealing the research works it was placing the topic into the public domain. Mindful of the underlying nature of this Library Fair and Forum, I was encouraged to note how many times library resources, materials, and online information was so instrumental to the works of these established and emerging innovators who came from many and varied disciplines. The second topic I want to highlight is the theme of “Copyright and its fair use.” This seminar was very well attended and for those of us privileged to attend the very hot and lively debate and with the exchange of viewpoints we were able to witness a form of debate that is not so common here in Japan. The topic drew widespread praise as it approached the important topics of ‘copyright’ and the respect of sweat-of-the-brow rights protections, inadvertent and blatant infringement or abuse - particularly in the Internet era, and finally regarding the relationship between publishers and libraries. We will work to find equally important or compelling subjects to raise at the next Library Fair. Any ideas or contributions to choice of topics will be most welcome. I will certainly do my part to assist JCC to develop more business. We have tentatively set the dates for the 11th Library Fair and Forum for November 10th and 12th inclusive. If you would like to obtain more information regarding The Library Fair and Forum, please contact JCC via email. Yushodo Forum 2008, [Tokyo, Japan]: Our annual “Yushodo Forum 2008 and Antiquarian Bookfair” was held on the 4th and 5th December. It was held in a small convention hall near to our Yotsuya Head office in Tokyo. This forum enjoys a very positive reputation. I am confident that the recipe to its success is twofold: i) the quality of the speakers and guests, who are invited from our key clients, librarians and collectors; and, ii) the quality of the lectures or debates. We know that the Yushodo name is held in high esteem throughout Japan. The fact that we limit the number of attendees always draws a maximum attendance. This year we had close to 350 guests participating in the Forum. There were two lectures and a debate on opposite perspectives about the use of technology and the impact of IT on rare books. This year we invited three panellists: Mr. Jyunichi Kanzaki, Librarian, Tenri University Library, Mr. Hideyuki Fujiwara, Librarian, Waseda University. Sitting between them was, Mr. Kiyotaka Nakagawa, Chief Engineer, Dainippon Printing Co. (DNP). The panel discussion was very good with Tenri and Waseda offering totally opposite viewpoints about the topic. Yushodo Forum 2008 Tenri is rightly proud of its rare book collection and we heard how they have, over a long period of time, allocated and used their rare book budget to build their high level collection. For preservation purposes they have microfilmed some of their collection, so that researches can use these for their studies and not disturb the originals. Yet, Tenri welcomes all visitors that wish to see the originals. However, they have no intention to digitise their collection and place it on the web for all to see. On the other-hand, Waseda, with its own funds and, with the assistance of Government grant aid, has set about to digitise its whole collection of rare books. Their viewpoint is that these gems should be available to all and they are placing a link to their home page. Waseda said that all libraries in Japan are welcome to participate in this ‘open’ initiative. Somewhat teasingly, Waseda invited Tenri to join their project - it was declined with the same mocking style. DNP showed examples of its top class reproductions. The samples were on paper, wood, and plastic. We were also shown the technologies used for digitization. Clearly, the audience was divided on the balance between access and preservation of unique and rare book collections. Yushodo’s point of view is that both are of value and importance. We are actively involved in sales and support of original books, facsimile editions, and digital services. I know that each year book business is getting harder and harder year on year, but I believe that the book business will not disappear. Mankind will always value the written word and I am confident that we will all recognise that books are necessary as human beings. The 5th Yushodo Gesner Award: During the Yushodo Forum we commemorated the 5th Yushodo Gesner Award. This ceremony was first launched sixteen years ago, and it purpose is to recognise authors and editors of bibliographic works or books on books. These kinds of publications do not always generate great sales volumes, but I feel that they are invaluable contributions to the book suppliers, libraries, collectors and researchers. The Yushodo Gesner Award is a monetary award to recognise the works and the individuals who devote so much energy and time to produce their books. Yushodo believes that this award will raise their spirits, show our appreciation and inspire others to also endeavour to produce works that might, one day, get recognised. This year we selected six outstanding bibliographic works that we felt warranted such recognition. The six authors and editors were duly acknowledged by an audience of distinguished peers and professionals whose lives are committed to the written word. The 5th Yushodo Gesner Award Hong Kong Antiquarian Book Fair : (Hong Kong, China) Together with two other Antiquarian Book Sellers, I have been very active in setting up the Hong Kong Antiquarian Book Fair. This year was the 2nd Hong Kong Antiquarian Book Fair and we wondered if we should continue to hold it or suspend it in light of the crisis. The 2nd HK Antiquarian Book Fair was well attended by visitors and collectors. Undoubtedly, the organising committee very much appreciates all the support it received from Antiquarian Book sellers from all over the world as well as the guests from HK and other parts of the Asia region. None of us could know prior to the Book fair whether it would be a success or a disaster. My anxiety was always that many visitors might attend, but would they simply browse or would they make purchases. Although the 2nd HK Antiquarian Book Fair cannot be considered a disaster, it was also not a great success. There was less trading than was experienced at last year’ inaugural HK Antiquarian Book Fair. The dealers, too, were cautious in buying from each other - something I haven’t seen for a very long time. Hong Kong Antiquarian Book Fair The successes of this year’s HK Antiquarian book fair, therefore, can only be measured in light of the investments and other promising long-term indicators. The following comments capture the most significant ones of those indicators: One decision that was made in Hong Kong was that 16 organisations met and decided that they want to form a China Antiquarian Booksellers Association. This is a start and a very positive one too. The name of the association is tentatively set as ABAPRC (The Antiquarian Booksellers Association of the Peoples Republic of China). Moreover, ABAPRC is also seeking to attend, as an observer at first, the next meeting of the ILAB (International League of Antiquarian Booksellers,). In fact, before the end of this year ABAPRC is hoping that its application to become a full member of ILAB will also be approved. A further and related development is that ABAPRC is planning to host its own Antiquarian Book fair during 2010 in Beijing. The suggested format of this book fair is quite different to the Hong Kong Antiquarian Book fair. As such, I believe that next year will prove very interesting and encouraging to Antiquarian suppliers and collectors alike as this part of the world will host three Antiquarian Book fairs (Japan, HK and China) and each, it seems, will have its own unique characteristic. Yushodo 77th year in business: Yushodo is just starting the 77th year since its foundation. We are closely monitoring the impact of the crisis on Japan. In some senses we need to take advantage of the Yen exchange rate at use this opportunity to acquire stock. We are also reviewing our pricing for items to clients, so they too are encouraged to continue purchasing books and related materials. Certainly, Yushodo begins this year with an International perspective and a global mind. I look forward to fostering new and established relationships with suppliers and clients from all over the world. We are becoming more involved in cultural exchange within Asia and the interlinked cultures. Even though we will remain active as a Book importer and distributor, we feel that it is now time to become a good publisher and producer of electronic content. If anyone reading this article has any areas of interest or publishing projects that they would like to explore for potential of sales within Japan or the region, we would welcome the opportunity to work with you. It might be that you are a publisher who has never ventured into these parts of the world; we are available to consider joint-publication or as a channel to the established market in Japan or the emerging markets on our doorstep. We look forward to hearing from you whatever the scale of your project. January 2009 Mitsuo Nitta, CEO Yushodo Group Back Number

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