A Letter From The Publisher, Mar. 3, 1952

When Tokyo's Fuji Bank placed an advertisement in the U.S. edition of TIME early this year, it became the first Japanese concern to do so since 1937. The event was solid evidence of the large strides toward commercial and industrial recovery now being made in Japan. It was also a tribute to the efforts of Robert H. Garey, Pacific publishing manager for TIME-LIFE International, and Harold Yoshiomi Hirata, TIME'S Tokyo advertising salesman, who have long been urging Japanese businessmen to seek world markets for their products.

Though the Fuji Bank is the first to...

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