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TOKYO: It is graduation time in Japan and April 1 is the day when high school and university graduates join the working world. But with the country caught in a global recession, getting a job is significantly more difficult this year.
"I'm joining Mitsui Sumitomo Insurance. It's a non-life insurance company," exclaimed fresh graduate Kenji Tsuchida.
Shinya Aoki, another graduate, said: "I'm joining a semi-conductor and machinery producing company called Disco."
In Japan, many students start their job hunt early. Through job vacancies posted at their university's recruitment centre, they identify the companies which they are interested in, and write to them for tests and interviews.
A year before graduation, the successful candidates will receive an informal consent by companies, indicating a formal acceptance to the firm when they graduate.
But the global recession has upset the cart. A real estate firm reportedly cancelled informal consents of 50 university students last November and many other companies followed suit, leading to a major social issue.
23-year-old Shin Hosozawa was one of those affected. "Just before summer, the company said its business condition was not good. Still, the firm said it was able to receive loans from banks. I was told it would be all right, so I was comforted," he said.
But a few months later, the company suddenly assembled its employees-to-be and advised them to look for another job. Ten days later, the company folded. With few job vacancies left, affected students like Shin were at a disadvantage.
The Education Ministry said as of March 1, nearly 1,500 students have faced job cancellations. To take care of these fresh graduates, the Aoyama Gakuin University has decided to introduce a new system.
Shin Hasegawa, vice president, Aoyama Gakuin University, said: "In our university, eight students had their promises dashed. It was at the end of last year when our recruitment department said companies will probably start to cancel consents.
"So we took an emergency measure to allow them to remain with the university for another year, so that they can search for jobs smoothly."
So what are the prospects for next year's graduates?
"It's tough. That's how the corporate people are describing the situation," student Yurie Iwasaki said.
Like their seniors who are already in the corporate world, undergraduates are fervently wishing for a speedy economic recovery.
- CNA/so
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