it is in the bad for samsonite.st luggage maker had an income statement at $225 million, which is 22% more than the highest estimate among the analysts. ceo,ng us in studio is the ramesh tainwala. it is a very good set of numbers but i want to break it down by region. take a look at your sales in the past three semiannual reports. asia and north america have seen declines. what is the strategy behind this? these regions account for 70% of your revenue. will it be enough? >> i do not think it will make a big difference. otherwise with samsonite come up we were missing it. at 2018 team growth. -- brand hase band a presence in north america. asia is the one to watch out for. why do you think we are seeing behaviors changing? is it that we are seeing different trends in part of the region? >> one thing that is changing is the elements. we see e-commerce gaining at the cost of more traditional outlets like the shopping mall. it has some impact on our numbers. how you could reach your topline growth. but what determines i

make a big difference, because we can operate at a premium in the market, which otherwise would samsonitemixed. we are looking at in the current at the18, we are looking teens kind of a growth. hasy: the bank of japan held course on monetary policy just hours after the fed raises rates, a signal with two more hikes coming later in the year. to discuss more, we have the asia-pacific chief economist. thank you for joining us. let's discuss the boj decision first. how hard will it be for them to keep their target of 0% 10-year yield when we are seeing this as a divergence in the u.s. ? meanat it will certainly is the boj will have to step up the rate, but at the same time, i think as much as they possibly the interest, rate coming from abroad. the boj is focused on delivering the economy from deflation. it is a long way away from that. we think they are going to hold it. in that sense the boj's stimulus is becoming greater. they have to buy bonds at a faster rate. that means cutting interest rates faster. that sends a strong signal we are likely to see further depreciation of the japanese ye