Japan To Develop Her Pacific

Islands

JAPAN is aiming at economic advance ment in her Pacific Islands (Caroline and Marshall Groups) by the establish ment of a South Seas Development Com pany, with a capital of 15,000,000 yen (£1,500,000 at par), according to the Japanese newspaper Hochi Shimhun.

The new company will co-operate with the existing South Seas Exploitation Co. in order to develop industry and colonisa tion. Diplomatic negotiations will be con ducted to extend Japan’s interests in Siam, Dutch Borneo, Sumatra and Dutch New Guinea.

The two Pacific Islands companies will combine with another new company, the Formosa Development Co., with a capital of 30,000,000 yen (£3,000,000 at par), in a huge semi-official Oriental Development Co. which, it is planned, will migrate 20,000 families from Japan during the next ten years. The Oriental Company will also seek to foster a closer relation ship between Japan and the Philippine Islands.