How is Kroll’s business in Japan?
Our business is growing. I am quite bullish because companies here tend to have better cash backing than a lot of companies internationally which have money invested in lots of different stocks. So you have some very cash-strong companies here that are interested in increasing their IP and other portfolios of businesses, and once the downturn hits bottom, I believe there will be a lot of Japanese companies doing M&As. We get a lot of repeat work and about 50% of our clients are multinationals. How is the economic downturn affecting business? In a downturn, there is certainly greater incentive to commit fraud and cut corners, but sometimes, I think we tend to see more just because companies tend to look more carefully at their operations. In a booming company, companies are focused outwards. However, now companies are focused inward trying to cut costs or find out why they are losing money, and then they discover that money is leaking. They look into it a bit more and find out they have
