50% of the 19 Largest Japanese Banks Are 25% Compliantgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Correct me if I'm wrong but doesn't Japan's fical year 2000 begin in April of this year?
If this is so, how could they possibly prevent catastrophe?
-- Mark Mastrorilli (email@example.com), February 23, 1999
I'm sure I've seen somewhere on this bulletin board that Japan's fiscal 1999 starts on April 1, 1999; their fiscal 2000 starts April 1, 2000. Someone else feel free to chime in with a link or pointer to somewhere else that would confirm this.
-- Don (firstname.lastname@example.org), February 23, 1999.
The following info is from the home page on this site (www.yourdon.com) on the sidebar index (emphasis mine):
Only 311 days to Jan 1, 2000
Only 36 days to Apr 1, 1999: beginning of 1999-2000 fiscal year for Japan, Canada, and New York State
Only 41 days to Apr 6, 1999: beginning of U.K. government 1999-2000 fiscal year
Only 127 days to Jul 1, 1999: beginning of 1999-2000 fiscal year for Australia and 46 U.S. states
Only 179 days to Aug 22, 1999, when GPS satellite system rolls over
Only 219 days to Oct 1, 1999: beginning of U.S. federal government 1999-2000 fiscal year
-- Rob Michaels (email@example.com), February 23, 1999.
At the rate they're going, it doesn't matter if their fiscal year 2000 starts in April, 2002. They're toast!
-- rick blaine (firstname.lastname@example.org), February 23, 1999.
There are two different y2k problems here. One is a software problem, which can and probably will be affected by the fiscal year that looks ahead to 2000. It's possible that this can be fixed or cleverly covered up temporarily.
The other problem is the hardware problem that will occur on or after January 1, 2000. That's when the computers will go down hard.
-- cody (email@example.com), February 23, 1999.
DIeTER IS MOSt PLEasED, is hE NOT?????? 75% is a GoOD ThiNG????
-- Dieter (firstname.lastname@example.org), February 23, 1999.
Japan's FY 1999 begins April 1st, 1999. The Japan FY rollover will not cause a catastrophe. Did the FY rollovers of many large U.S. retailers on February 1st, 1999 cause catestrophic failures? No. Exactly as I predicted. Fiscal years are not commerce. Will all of Japan's banks make it? No. That's one reason they are withdrawing from overseas operations, in addition to the need to repatriate cash -- They will now exchange $1 for ~122 yen instead of ~112 yen. The valve is open and money is being drained from the U.S. investment pool back to Japan. The pace is and will be moderated to a flow rate just below the level that piques the interest of the main stream business press.
-- PNG (email@example.com), February 23, 1999.
Thanks PNG. Now, if we only knew how they were going to handle the Treasuries they hold, and whether Nomura (right?) is going to survive the firestorm, since I am under the impression that they hold more treasuries (Nomura) than the US Banking industry.
-- Chuck, night driver (firstname.lastname@example.org), February 23, 1999.