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Konichi-wa from Tokyo

June 24, 2014Peter EliotJapan Country Head
Konichi-wa from Tokyo By Peter Eliot

Our guide to Tokyo is Japan Country Head Peter Eliot.

 
Citi's legacy in Japan dates back more than 110 years to when the International Banking Corporation, a Citi predecessor company, opened a branch in the port town of Yokohama, just south of Tokyo. It opened a branch in the nation's capital in 1923 and has been proudly helping Japan's corporations and individuals with financial services ever since.
 
Citi has offices in Tokyo, Osaka, Nagoya and Okinawa, as well as 33 retail banking branches around the country. Our head office is in Marunouchi, located between Tokyo station and the Imperial Palace, home of Japan's Emperor. On a clear day, you can see Mt. Fuji from our boardroom as you look across the palace to the south-west. Our head office business district is considered the center of the financial industry and with bullet trains leaving every five minutes, we have great access to clients all across the country.
 
Tokyo is the largest city in Japan and one of the largest in the world. They say that more than 30 million people live within a 50km radius of Tokyo station and sometimes it feels like they are all riding the subway at once. The station workers with the white gloves politely squeezing more people onto the morning trains actually happens!
 
Konichi-wa from Tokyo By Peter Eliot
Peter Eliot pictured below with staff members at Citibank Japan's Tokyo Station branch. It is traditional for women, especially at financial services companies, to wear a kimono on the first working day of the year.
 
National Languages: The official language is Japanese. Currency: The Japanese yen is the official currency with 100 yen roughly equal to one U.S. dollar.
 
Population: 13 million (Tokyo), 125 million (Japan)
 
Climate: Tokyo has four very distinct seasons. Winter is cool and crisp, with only minimal snowfall, spring is mild with cherry blossoms painting the city's parks pink, summer, after one-month rainy season, is hot and humid and autumn is also mild, occasionally interrupted by typhoons. Autumn is my favorite time of the year as we can see the glorious changing of the colors of the trees, and the ski season is just around the corner. Despite its urban image, much of Japan is covered in forested mountains and in autumn, the bright, vibrant colors of the Japanese Maple and other deciduous trees are spectacular.
 
Citi Japan & Progress: Citi started out in Japan as a bank for trade finance, helping foreign companies import into Japan and to help fledgling Japanese companies expand their horizons outside their borders. One hundred and twelve years later our core value proposition has not changed much. In recent years we have seen Japanese companies increasingly expand their operations overseas, either looking for new markets through mergers and acquisitions, or setting up operations in new markets. And no other bank does a better job than Citi , through our 12 overseas Japan Desks, to navigate complex overseas markets for our Japanese institutional and retail customers. Citi has a reputation for innovation in Japan. Diners Club issued the first credit card in Japan in 1960; Citibank pioneered 24-hour ATMs and 24-hour telephone banking. Tokyo was the first market in Citi's global network to introduce Smart Banking, opening a branch in Nihonbashi in 2010. We continue to help Japanese corporations and individuals progress in an increasingly complex world.
 
I have been fortunate enough to work in 10 countries with Citi and I believe that Japanese cuisine is the best in the world. Everyone knows about sushi and sashimi, which I love, but there is so much more to Japanese food, such as tempura, yakitori, soba noodles, tofu, shabu-shabu and sukiyaki. One of the things that I love about traveling in Japan is that each region has its own delicacies, along with their own sake that matches the local food. It is also said that Tokyo has more Michelin Stars than any other city in the world and has some of the best French, Italian and Chinese restaurants anywhere. All true.
 
Best Places for Dinner: For a true Japanese cultural and dining experience, I like to take guests to a Japanese Ryotei, which is a traditional type of restaurant found mostly in Ginza. Many of them require a personal invitation, and through our Diners Club Premium or Ginza Card desks, members can gain exclusive access. For great sushi, head towards the Tsukiji fish markets - you know the sushi you eat at the restaurants is very fresh and there are so many sushi restaurants within walking distance of the market that you can choose one that suits your budget. I usually like to sit at the counter and point to the fish I like to try. The sushi chef, or itamae-san will cut it up and prepare it right in front of you.
 
Best Places for a Weekend Away:
 
  • Culture: You must visit Kyoto for a complete cultural experience of old Japan. Kyoto was Japan's capital for more than 1,000 years and many of the temples, shrines and castles remain well maintained through to today. Kyoto is only two hours by bullet train from Tokyo, and I recommend spending at least two days there. One day to walk the eastern side of Kyoto along the Philosopher's path and one to explore the sites of western Kyoto, including the Golden Pavilion and Arashiyama. Make sure you also check out the Gion district, the heart of Kyoto and near the location of our Citibank branch.
 
  • Beaches: If you have time, check out the beaches of Okinawa and its outer-lying islands. Okinawa is sub-tropical and is warm all year-round. The beaches have pure white sand and turquoise waters. Diving is spectacular. Citi has more than 500 of our Citi team in Okinawa with call centers for Cards and retail banking and a large technology presence, making Citi the second-largest foreign employer in the prefecture.
 
  • Mountains: I love to ski and Japan has plenty of great ski resorts. Just a few hours to the northwest are the resorts of Nagano. These are easily accessed by bullet train. This area hosted the 1998 Winter Olympics, so there is a wide variety of terrain and activities. Apart from the great scenery, friendly people, delicious local cuisine, most of these areas are located in hot spring areas. After a long day on the slopes, there is nothing better than kicking back in an outdoor thermal spring, with snow falling softly on the water's surface. Sometimes you might be lucky enough to have a floating cup of hot sake with you.
 
Why I enjoy living in Tokyo: Tokyo is a huge city with just about everything you need at your fingertips. I have never known such an efficient city, everything just works. It is actually a very easy city in which to live. It is also an enchanting city that blends ancient traditions with cutting edge technology.

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