Abe’s resignation triggers manga boom
JENS SCHLUETER/AFP/Getty Images While soon-to-be former Japanese Prime Minister Shinzo Abe is struggling with his health following his resignation announcement, there are some people in Japan that have been injected with fresh lease on life: those in the manga industry. Following the news of Abe’s resignation Wednesday, shares in manga retailers jumped dramatically on speculation ...
JENS SCHLUETER/AFP/Getty Images
While soon-to-be former Japanese Prime Minister Shinzo Abe is struggling with his health following his resignation announcement, there are some people in Japan that have been injected with fresh lease on life: those in the manga industry.
Following the news of Abe’s resignation Wednesday, shares in manga retailers jumped dramatically on speculation that Taro Aso, an avid manga fan, will soon replace Abe as Japan’s PM. For instance, Broccoli, a retail chain selling games and comics, saw its share price leap 71 percent, and second-hand bookstore Mandarake closed 13 percent higher. Meanwhile, Japan’s main share index fell half a percent.
But why has the manga market reacted so enthusiastically? Simply knowing that Abe’s likely successor is a manga fan hardly explains the dramatic market movement.
Maybe investors sense that there may be more tangible benefits in the near future. While serving as Japan’s foreign minster earlier this year, Aso was instrumental in creating the “Nobel prize” for foreign manga artists. He’s keen on promoting manga overseas, arguing that the comics are a critical vehicle for enhancing Japanese diplomacy, with “warm feelings” for Japanese manga and anime translating into warm feelings for Japanese foreign policy, especially in the Asian region, where manga is already popular. Perhaps the investors responsible for the jump hope that Aso’s manga diplomacy will prompt international markets to go crazy for the Japanese comics. Perhaps they even hope that Aso may provide more than just publicity. Whatever happens with the industry, one thing’s for sure if Aso take the reins: Prince Pickles will be sticking around.
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