fyi.
-----Original Message-----
From: Watanabe, Mika 
Sent: Thursday, October 25, 2001 10:41 AM
To: Thirsk, Jeremy; Tanabe, Nobuaki
Cc: Hirl, Joseph
Subject: Morgan Stanley To Trade In Power


Sankei, Asahi, Nikkan Kogyo newspapers carried the article on Morgan Stanley's electricity trading business in their morning editions today.
You'll receive English translation of the Asahi article soon from Tom.
-----Original Message-----
From: Eric Hess [mailto:eric-prs@irjgroup.co.jp]
Sent: Thursday, October 25, 2001 10:31 AM
To: Ueno Julie; Takaaki NAKAJIMA; O'Day, Nicholas; Miwa Nakao; Watanabe, Mika; Eric Hess; Minako Yamada; Keiko Koyama
Subject: MediaWatch by IRJ Group: Morgan Stanley


Morgan Stanley to trade in power
 
October 25, 2001 The Japan Times Jiji Press
 
U. S. investment bank Morgan Stanley will start electricity trading in Japan as early as this year, informed sources said Wednesday.
 
It will purchase electricity from power suppliers for sale to users, utility firms and financial institutions, in a role known as a power marketer in Europe and the United States.
 
Trading will be made through forward contracts, under which companies involved buy or sell electricity to be produced in the future. 
 
Since the method guarantees power generators' future sales, it makes it easier for them to map out investment plans. As a result, the number of companies starting power generation and construction of power plants is expected to increase, industry sources said.
 
Morgan Stanley decided to enter the domestic electricity business on expectations that it will become profitable if prices are determined by market mechanisms.