demand, on export, but exports tell us china and asia are cooling, as well. so not much good news from japan so far. >> so slowing growth in china. the problems in europe. lack of stimulus. are we heading for an out and out recession in japan? any bright spots at all? >> from our perspective, actually the situation in europe has improved quite a bit. the ecb decision to go into the market and stabilize the sense of risk also also in asia is helping tremendously. so what we're seeing is the japanese yen, for example, hasn't strengthened that much. euro exchange rate is quite a bit weaker. overall in asia, this will help exports quite a bit and to stabilize sentiment. what we're also seeing is companies are still investing overseas and that helps