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Recent Characteristics of
Royalties and License Fees
in Japan’s Balance of Payments
April 2004
Bank of Japan
2016/7/27
1
Trends in Japan’s
Royalties and License Fees
(Yen billion)
1,600
1,400
1,200
1,000
800
600
400
200
0
-200
-400
-600
(Yen billion)
Receipts
Payments
Balance
First surplus
1961 64
120
100
80
60 Absolute am
40
20
0
-20
C
-40
-60
-80
-100
-120
1961 64 6
67
70
73
76
79
82
85
88
91
94
1,600
1,400
1,200
1,000
800
600
400
200
0
-200
-400
-600
97 2000 03
(Year)
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2
Japan’s
Royalties and License Fees
a surplus was registered for the first time in
2003 due to…
growth in royalty receipts from the
overseas subsidiaries of Japanese
companies (non-resident corporations)
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3
What contributed to the
emergence of a surplus?
By industry
Transportation equipment
By region
North America
--- Overseas production of automobiles by
Japanese companies is expected to increase over
the coming years in North America and Europe.
2016/7/27
4
What is suggested by statistics?
it cannot be said that the competitive
position of Japanese companies in the area
of intellectual property has improved
because…
weakness in the area of software
the surplus attributed to intra-firm trade
2016/7/27
5
Trends in Absolute Amount Ratio,
Comparative Advantage Index and
Exchange rate
(%)
(Yen / US $)
120
100
80
1
Absolute
amount
ratio
60
40
20
0
-20
Comparative advantage index2
-40
-60
-80
-100
-120
1961 64 67 70 73 76 79 82
400
350
300
250
200
150
100
50
Exchange rate (Right)
85
88
91
94
0
97 2000 03
(Year)
Notes 1: Computed as Exports / Imports
2: Computed as (Exports – Imports) / (Exports + Imports)
2016/7/27
6
Categories of Intellectual Property Rights
Trademark rights
Right of registered designs
Industrial property
Utility model rights
Intellectual property rights
Patents
Copyrights
2016/7/27
7
Comparative Advantage Indices of
Components of Royalties and License Fees
(%)
100
80
60
40
20
0
-20
-40
-60
-80
-100
Fees for industrial property, etc.
Combined
Fees for copyright
96
2016/7/27
97
98
99
2000
01
02
03
(Year)
8
Differential in the Competitiveness of
Industrial Property and Copyright
(Yen billion)
(Yen billion)
1,600
1,400
1,200
1,000
800
600
400
200
0
-200
-400
-600
Receipts
Payments
Balance
Turned to surplus in 1997
96
97
98
99
00
01
02
03
(Year)
2016/7/27
1,600
1,400
1,200
1,000
800
600
400
200
0
-200
-400
-600
Receipts
Payments
Balance
Consistently in deficit
96
97
98
99
00
01
02
03
(Year)
9
Receipts of Fees for Industry Property, etc.
by Industry
(Yen billion)
(Yen billion)
700
600
500
400
300
200
100
0
700
600
500
400
300
200
100
0
Automobiles
Pharmaceuticals
Electric machinery & IT
Others
1996
1997
1998
1999
2000
2001
2002
2003
(Year)
2016/7/27
10
Change in Contribution of Receipts of Fees
for Industry Property, etc. by Industry
(%)
(%)
20
20
15
15
10
10
5
5
0
0
-5
-5
1997
1998
1999
Automobiles
Electric machinery & IT
Total
2016/7/27
2000
2001
Pharmaceuticals
Others
2002
2003
(Year)
11
Royalty Income of Japanese Automobile
Manufacturers and Number of
Automobiles Manufactured Overseas
(Yen billion)
(%)
35
200
180
160
140
120
100
80
60
40
20
0
Royalty income (Right)
Year-on-year change in royalty income
Year-on-year change in number of automobile manufactured overseas
30
25
20
15
10
5
0
Q2
Q3
2000
2016/7/27
Q4
Q1
Q2
Q3
01
Q4
Q1
Q2
Q3
02
Q4
Q1
Q2
Q3
Q4
03
12
Unit Labor Costs of Japanese
Manufacturing Industries
Year-on-year change (%)
30
25
20
15
10
5
0
-5
-10
-15
-20
-25
Per capita wages
Labor productivity (Reverse scale)
Unit labor costs
1971
74
77
80
83
86
89
92
95
98
2001
(Year)
* Rate of increase in unit labor cost = (Rate of increase of per capita wage) – (Rate of increase of labor productivity).
2016/7/27
13
Overseas Manufacturing Ratios by Industry
(%)
35
Transportation
equipment
All manufacturing industries
30
Transportation equipment
Electrical machinery
General machinery
25
Chemicals
Textiles
20
Foodstuff
15
10
5
0
1985 86
87
88
89
90
91
92
93
94
95
96
97
Source: Basic Survey on Overseas Business Activitie, the Ministry of Economy, Trade and Industry.
2016/7/27
98
99 2000
(Fiscal year)
14
Trends in Payment Balances by Region
(Yen billion)
600
500
400
300
200
100
0
-100
-200
-300
-400
-500
-600
1998
2016/7/27
Surplus vis-`a-vis US
North America
EU
99
2000
Asia
Total
01
02
03 (Year)
(Yen billion)
600
500
400
300
200
100
0
-100
-200
-300
-400
-500
-600
1998
North America
EU
99
2000
Asia
Total
01
02
03 (Year)
15
Regional Breakdown of Industrial Property
Royalty Receipts in 1998 and 2003
EU
17%
Asia
31%
2016/7/27
Others
5%
North
America
47%
EU
14%
Asia
25%
Others
6%
North
America
55%
16
Balance of Payments of Royalty and
License Fees by Region
(Aggregate of industrial property and copyright royalties)
(Yen billion)
(Yen billion)
400
300
200
100
0
-100
-200
-300
-400
-500
-600
North America
1998
2016/7/27
99
2000
Asia
01
EU
Total
02
03
400
300
200
100
0
-100
-200
-300
-400
-500
-600
(Year)
17
Share of Intra-Firm Transactions in
Royalties and License Fees
(Estimated for Japan-US transactions)
(%)
70
65
60
55
50
45
40
35
30
Imports
Exports
1996
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1997
1998
1999
2000 (Year)
18
Royalties and License Fees
in 2000
Japan - 83.8 bill. Yen in deficit
Germany - 283.4 bill. Yen in deficit
Britain - 130.4 bill. Yen in surplus
France - 28.0 bill. Yen in surplus
US - 2,362.7 bill. Yen in surplus
2016/7/27
19
outlook for Japan’s balance of
royalties and license fees
deficit in its balance of copyright royalties
can be expected to remain basically
unchanged
some significant changes can be expected
with regard to China
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20
What could be concluded?
it cannot be said that the competitive
position of Japanese companies in the area
of intellectual property has improved
a closer look at Japan’s balance of payments
of royalties and license fees reveals that…
the increase is due to payment from overseas
subsidiaries
in the case of intra-firm trade, royalty income
could be affected by parent company’s policy
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21
Thank you for listening!
2016/7/27
22