Osaka – Saturday, 15 January, 2011
As a follow-up of the previous article Japanese Companies Join War for Global Talent, this article introduces a case of Ricoh http://www.ricoh.com/ a typical Japanese company, of acquiring, developing and retaining global talent, which was introduced in a recent Japanese HRM (human resource management) publication http://www.busi-pub.com/.
1. How are sales and employees of the group company geographically diversified?
56% of worldwide sales come from overseas (outside Japan) and 62% of worldwide employees are located overseas. Geographical diversification of sales and employees are balanced for a Japanese company.
Sales by region
Region / Sales (billion yen) / %
Japan / 876.5 / 43.5
Americas / 557.6 / 27.7
Europe / 458.5 / 22.7
Others / 123.4 / 6.1
Total / 2016.0 /100.0
Employees
Region / Number of employee / %
Japan / 41,118 / 37.9
Americas / 35,000 / 32.3
Europe / 17,239 / 15.9
China / 10,143 / 9.3
Asia-Pacific / 5,025 / 4.6
Total / 108,525 / 100.0
2. Has the company been hiring non-Japanese in Japan already?
Yes and at present there are 84 non-Japanese employees (64 regular, 20 non-regular). Their country of origin are varied including China, South Korea, Taiwan, Germany, France, Russia, the U.S., Kenya, the U.K., Peru, and Malaysia. 80% of new graduate hiring of non-Japanese are engineers.
The reason for non-Japanese hiring is because the company is to increase the percentage of overseas sales, which means they would need more global talent.
300-350 people are hired annually and their target is to hire 30 of them who are non-Japanese, which they have been achieving. However, this does not mean they have been acquiring global talent globally because the process and requirements are exactly the same as Japanese graduates. This means that Japanese fluency would be one of the requirements, which is a big hurdle for majority of non-Japanese.
3. How is the company to change their global talent hiring?
They are to change the target and process of the recruiting. Non-Japanese living in Japan have been their target and therefore their recruiting has been all done in Japan but they will also target people living outside Japan.
The have recently tried something new, which is joining a group recruiting event held in Boston, the U.S. It turned out to be that 90% of the participants of the event are Japanese people studying in the U.S.
They knew there are many non-American participants for the event but they were shocked to know the reality that few non-Japanese students are interested in their company. Thus their challenge is how to attract attention and interest of non-Japanese people and how to navigate them to apply for their positions. Of course, engaging and retaining them would be the challenge as well.
4. What is the impact of increase in non-Japanese employees on workplace?
It is true that the ratio of non-Japanese employees in the company (non-consolidated, some 13,000) is still very low and not every departments has non-Japanese employees thus it takes time for the total company to globalize but there has been some positive impacts.
A Chinese new graduate was assigned as a first non-Japanese in a HR department and he has contributed to changing culture of the department. He casually teaches English and Chinese to members of the department who enjoy learning, which also facilitated communication. An American moved into another department, which encouraged members of the department to learn English.
5. What is the challenges the company is facing or to face in recruiting non-Japanese from outside Japan?
1) Appropriate hard and soft factors to admit non-Japanese employees in the workplace
(1) Hard factors
This is mainly about language issue, making internal infrastructure/DB (data base) and documents bilingual (Japanese and English). The change in the company’s hiring of global talent to be strategically assigned in Japan means they would hire people who cannot understand Japanese but since they have hired people who are fluent in Japanese they did not need to make internal infrastructure and documents bilingual.
(2) Soft factors
This is all about people and culture of the workplace in Japan. It is about people with global and D&I (Diversity and Inclusion) mindset and actions. It is about the D&I culture. This deserves much discussion and a book can be written on this topic so the author would like to refrain from discussion this issue in this article.
2) International job rotation
As explained in the previous article Japanese Companies Join War for Global Talent there were not truly international job rotation in Japanese companies but with acquiring, developing, retaining and engaging global talent and leverage them international rotation would be necessary for globalization of the company and its people. This is one important way of developing employees with global and D&I mindset and cultivating an organization of global, D&I culture.
In one of the upcoming article the author would like explain and discuss how Japanese companies are trying to globalize their Japanese employees.
References:-
Global HR Development of Ricoh (a special article) 2011 January edition of http://www.busi-pub.com/ (in Japanese)
2011年1月10日月曜日
Japanese Companies Join War for Global Talent
Osaka – Monday, 10 January, 2011
Japanese companies are taking actions for globalization of their human resources to survive in globalized economy. This includes hiring Japanese people with global mindset and strategically developing them, and hiring non-Japanese people. The former has been a hot topic discussed by HRM (human resource management) experts and management professionals lately and the author would like to discuss in one of her upcoming article.
The topic of this article is about how Japanese companies have started to proactively hire non-Japanese new graduates.
1. How have human resources of Japanese companies been until today?
Globalization of human resources of Japanese companies are far behind other developed countries and even some emerging countries. It seems to attribute to the mindset of Japanese top executes and the general public; to them abroad is something special for them. Also it might attribute to the fact that Japan market was sufficient for Japanese companies to survive.
Under such a situation, although many Japanese companies such as Toyota and Sony to name a few have been doing business worldwide, their human resources and systems have been domestic. There have been “barriers” between business in Japan market and overseas market thus departments are usually separate and job rotation between the two departments/markets has been not so popular. Executives of sites outside Japan were expatriates from Japan HQ. Local employees were all hired locally and never been rotated to positions in Japan HQ or any other countries and regions outside other than where they were locally hired.
2. Why Japanese companies started to globalize their human resources now?
It is because the situation has changed. Japan is no longer #2 in its GDP. Japan domestic market demand will no longer expand so Japanese companies need to grow their business abroad especially the emerging markets.
However, Japanese companies realized that they lack in human resources that can be competitive in today’s global economy. This is prominent from the survey result implemented by HRM consultant companies.
Therefore, they started to take measure to cope with the drastic change, and one of them is strategically hiring non-Japanese new graduates, especially Chinese, to develop as tomorrow’s leaders.
3. What are some strategies and actions of Japanese companies to hire non-Japanese?
1) In general
Lawson, a leader in convenience store industry (CEO is a MBA holder from a U.S. business school), was one of the first company to strategically some hire none-Japanese new graduates to “bring in new wind in their company”.
Then in late 2010 many Japanese companies, leaders in their industry and operating worldwide such as Mitsubishi Trading and Panasonic, decided to hire so many hundred new graduates from outside Japan, which is 50% or more of their total hiring of new graduates for some companies. They have started contacting top class universities abroad, hosting seminars for new graduates introducing their companies, opening positions and other relevant information.
2) A case of a local retailer
A TV programme that went on air in December 2010 introduced a case in which a local retailer (supermarket) in Kyushu, southern Japan, recruited a female Chinese new graduate. The background of the hiring is their plan of starting business in China in few years and they hired her to develop her as a key person in their business in China.
It is a risk for her to relocate to Japan, away from her family, but she is interested in Japan and she saw the future in working for a Japanese company in Japan, so she made her decision.
The company welcomed her warmly. They provided her with housing and all furniture, which she was satisfied with. They made her start her career in a shop floor so that she would fully understand the business, systems, procedures and company culture from real experience at the shop floor. This approach is often adopted by many Japanese companies. The staff members at her new workplace were all told about her hiring and welcomed her warmly to minimize her culture shock and help her get used to living and working in Japan. It is not long since she started working in Japan so we will have to see her case as a pilot.
4. The author’s final thoughts
Globalization of the organization and human resources was what the author found Japanese companies are far behind their western counterparts when she was working for a Japanese company, and she was convinced it is quite true when she started working for a European company.
To her, it is a little late but she is happy that at least Japanese companies started to join “war for global talent”, a requirement to survive in the global, flat world.
In addition to change in their recruitment, Japanese companies would need to review their total HRM systems to successfully engage, retain and develop new global employees they have managed to hire.
Japanese companies are taking actions for globalization of their human resources to survive in globalized economy. This includes hiring Japanese people with global mindset and strategically developing them, and hiring non-Japanese people. The former has been a hot topic discussed by HRM (human resource management) experts and management professionals lately and the author would like to discuss in one of her upcoming article.
The topic of this article is about how Japanese companies have started to proactively hire non-Japanese new graduates.
1. How have human resources of Japanese companies been until today?
Globalization of human resources of Japanese companies are far behind other developed countries and even some emerging countries. It seems to attribute to the mindset of Japanese top executes and the general public; to them abroad is something special for them. Also it might attribute to the fact that Japan market was sufficient for Japanese companies to survive.
Under such a situation, although many Japanese companies such as Toyota and Sony to name a few have been doing business worldwide, their human resources and systems have been domestic. There have been “barriers” between business in Japan market and overseas market thus departments are usually separate and job rotation between the two departments/markets has been not so popular. Executives of sites outside Japan were expatriates from Japan HQ. Local employees were all hired locally and never been rotated to positions in Japan HQ or any other countries and regions outside other than where they were locally hired.
2. Why Japanese companies started to globalize their human resources now?
It is because the situation has changed. Japan is no longer #2 in its GDP. Japan domestic market demand will no longer expand so Japanese companies need to grow their business abroad especially the emerging markets.
However, Japanese companies realized that they lack in human resources that can be competitive in today’s global economy. This is prominent from the survey result implemented by HRM consultant companies.
Therefore, they started to take measure to cope with the drastic change, and one of them is strategically hiring non-Japanese new graduates, especially Chinese, to develop as tomorrow’s leaders.
3. What are some strategies and actions of Japanese companies to hire non-Japanese?
1) In general
Lawson, a leader in convenience store industry (CEO is a MBA holder from a U.S. business school), was one of the first company to strategically some hire none-Japanese new graduates to “bring in new wind in their company”.
Then in late 2010 many Japanese companies, leaders in their industry and operating worldwide such as Mitsubishi Trading and Panasonic, decided to hire so many hundred new graduates from outside Japan, which is 50% or more of their total hiring of new graduates for some companies. They have started contacting top class universities abroad, hosting seminars for new graduates introducing their companies, opening positions and other relevant information.
2) A case of a local retailer
A TV programme that went on air in December 2010 introduced a case in which a local retailer (supermarket) in Kyushu, southern Japan, recruited a female Chinese new graduate. The background of the hiring is their plan of starting business in China in few years and they hired her to develop her as a key person in their business in China.
It is a risk for her to relocate to Japan, away from her family, but she is interested in Japan and she saw the future in working for a Japanese company in Japan, so she made her decision.
The company welcomed her warmly. They provided her with housing and all furniture, which she was satisfied with. They made her start her career in a shop floor so that she would fully understand the business, systems, procedures and company culture from real experience at the shop floor. This approach is often adopted by many Japanese companies. The staff members at her new workplace were all told about her hiring and welcomed her warmly to minimize her culture shock and help her get used to living and working in Japan. It is not long since she started working in Japan so we will have to see her case as a pilot.
4. The author’s final thoughts
Globalization of the organization and human resources was what the author found Japanese companies are far behind their western counterparts when she was working for a Japanese company, and she was convinced it is quite true when she started working for a European company.
To her, it is a little late but she is happy that at least Japanese companies started to join “war for global talent”, a requirement to survive in the global, flat world.
In addition to change in their recruitment, Japanese companies would need to review their total HRM systems to successfully engage, retain and develop new global employees they have managed to hire.
2011年1月8日土曜日
Cool Japan Strategy: Japanese Culture Export in 10 Businesses
Osaka – Saturday, January 8, 2011
Nikkei, Japanese leading newspaper specialized in business and economy, reported today in its evening paper that by implementing “Cool Japan” strategy the Japanese government (METI: Ministry of Economy, Trade and Industry) is to initiate new businesses to promote export of Japanese culture of animation, fashion and foods that are highly evaluated and popular abroad from 2011. Such initiatives include installation of time-limited antenna shops that introduce Japanese sake (alcoholic drink) and food, and collaboration with local distributors to proliferate Japanese culture. The initiatives are expected to drive export of products of small and mid-sized companies and individuals (craft men and creators), to achieve export or 13 trillion yen in 2020.
1. What is Cool Japan Strategy?
It is a strategy in which Japanese products with global competitiveness in fashion, design, content such as animation and movies, food industries are positioned as “Cool Japan = Japanese culture that the world find it cool” and are used as drivers in expanding business worldwide and attracting tourists from around the globe. The Japanese government had developed Cool Japan Strategy and included in the New Strategy of Japan that was agreed among the cabinet members in June 2010.
2. How has the Japanese government been initiating the Cool Japan Strategy?
METI established Cool Japan Office in June 2010, which is planned to be up-graded to a department headed by “Creative Industry Councilor” in 2011, integrating all departments engaged in fashion and content business. Thus, the department is to promote Cool Japan strategy across the related industries.
METI allocated 1.4 billion yen for Cool Japan Strategy in the 2011 budget. The budget is to be used in 10 businesses that have been selected together with target country/region in order to drive export in fashion and household goods to China and in selling animation and consumer electronics to Brazil that adopted Japanese format in digital terrestrial broadcast.
10 Selected Businesses of Cool Japan Strategy
(Source: Nikkei, translated and edited by the author)
Country or Region / Business / Objective
Asia / Food / Introduce Japanese food culture and sell good, alcoholic drinks, dishes etc.
Asia / Housing / Sell housing, environmentally-friendly electronics, furniture etc.
China / Fashion, household goods / Collaborate with shopping mall targeting the rich
China / Content / Leverage Japan & China co-hosting events such as of movies
South East Asia / Japan regional traditional goods / Branding of Japan regional traditional goods
South East Asia / Fashion, household goods / Export Harajuku Brand targeting the young
India / Fashion / Collaborate with local fashion media
US / Food / Establish Japanese food and alcoholic drinks
US / Content / Export content leveraging animation and 3D technologies to Hollywood
Brazil / Content, consumer electronics /Proliferate TVs and One Seg mobiles leveraging animation at the timing of FIFA and Olympics
3. What are concrete examples of the initiatives?
For example, in China, consortium constituted by Japanese product planners and producers such as designers and small and mid-sized companies will be established. Then products will be gathered at antenna shops and EC website for experimental sales locally. In addition, collaboration is to be made with local distributors that have access to shopping malls to make experimental sales into sustainable sales. When this system becomes a success, it will be rolled out to other businesses.
4. Who are the main players in Japan Cool culture industries?
It is mainly individuals of designers and creators, and small and mid-sized companies. Many of them have difficulty in starting business abroad themselves due to insufficient capital and know-how. METI would like to discover such business owners and match them with overseas business owners to develop as an export industry. METI also believes that it would contribute to creating jobs for the young generation.
5. What are the assumed positive effects of the initiative?
1) Increase in export
METI estimates that worldwide market size of fashion, food and content in 2020 will be 932 trillion yen. Achieving feasible market share of 1.4% means 13 billion yen export, which is far greater than the current export.
2) Image enhancement of Japan
Proliferation of Japanese culture industries around the globe to expand business would lead to image enhancement of Japan as well. These initiatives are similar to Cool Britania initiatives of the U.K. in latter 1990s, and the recent South Korea initiatives of which export in consumer electronics and apparel increased through export of life style via export of movies and TV dramas to Asian countries.
Nikkei, Japanese leading newspaper specialized in business and economy, reported today in its evening paper that by implementing “Cool Japan” strategy the Japanese government (METI: Ministry of Economy, Trade and Industry) is to initiate new businesses to promote export of Japanese culture of animation, fashion and foods that are highly evaluated and popular abroad from 2011. Such initiatives include installation of time-limited antenna shops that introduce Japanese sake (alcoholic drink) and food, and collaboration with local distributors to proliferate Japanese culture. The initiatives are expected to drive export of products of small and mid-sized companies and individuals (craft men and creators), to achieve export or 13 trillion yen in 2020.
1. What is Cool Japan Strategy?
It is a strategy in which Japanese products with global competitiveness in fashion, design, content such as animation and movies, food industries are positioned as “Cool Japan = Japanese culture that the world find it cool” and are used as drivers in expanding business worldwide and attracting tourists from around the globe. The Japanese government had developed Cool Japan Strategy and included in the New Strategy of Japan that was agreed among the cabinet members in June 2010.
2. How has the Japanese government been initiating the Cool Japan Strategy?
METI established Cool Japan Office in June 2010, which is planned to be up-graded to a department headed by “Creative Industry Councilor” in 2011, integrating all departments engaged in fashion and content business. Thus, the department is to promote Cool Japan strategy across the related industries.
METI allocated 1.4 billion yen for Cool Japan Strategy in the 2011 budget. The budget is to be used in 10 businesses that have been selected together with target country/region in order to drive export in fashion and household goods to China and in selling animation and consumer electronics to Brazil that adopted Japanese format in digital terrestrial broadcast.
10 Selected Businesses of Cool Japan Strategy
(Source: Nikkei, translated and edited by the author)
Country or Region / Business / Objective
Asia / Food / Introduce Japanese food culture and sell good, alcoholic drinks, dishes etc.
Asia / Housing / Sell housing, environmentally-friendly electronics, furniture etc.
China / Fashion, household goods / Collaborate with shopping mall targeting the rich
China / Content / Leverage Japan & China co-hosting events such as of movies
South East Asia / Japan regional traditional goods / Branding of Japan regional traditional goods
South East Asia / Fashion, household goods / Export Harajuku Brand targeting the young
India / Fashion / Collaborate with local fashion media
US / Food / Establish Japanese food and alcoholic drinks
US / Content / Export content leveraging animation and 3D technologies to Hollywood
Brazil / Content, consumer electronics /Proliferate TVs and One Seg mobiles leveraging animation at the timing of FIFA and Olympics
3. What are concrete examples of the initiatives?
For example, in China, consortium constituted by Japanese product planners and producers such as designers and small and mid-sized companies will be established. Then products will be gathered at antenna shops and EC website for experimental sales locally. In addition, collaboration is to be made with local distributors that have access to shopping malls to make experimental sales into sustainable sales. When this system becomes a success, it will be rolled out to other businesses.
4. Who are the main players in Japan Cool culture industries?
It is mainly individuals of designers and creators, and small and mid-sized companies. Many of them have difficulty in starting business abroad themselves due to insufficient capital and know-how. METI would like to discover such business owners and match them with overseas business owners to develop as an export industry. METI also believes that it would contribute to creating jobs for the young generation.
5. What are the assumed positive effects of the initiative?
1) Increase in export
METI estimates that worldwide market size of fashion, food and content in 2020 will be 932 trillion yen. Achieving feasible market share of 1.4% means 13 billion yen export, which is far greater than the current export.
2) Image enhancement of Japan
Proliferation of Japanese culture industries around the globe to expand business would lead to image enhancement of Japan as well. These initiatives are similar to Cool Britania initiatives of the U.K. in latter 1990s, and the recent South Korea initiatives of which export in consumer electronics and apparel increased through export of life style via export of movies and TV dramas to Asian countries.
2010年12月23日木曜日
More Mid-Year Abnormal Weather’s Negative Effects
Osaka - Thursday, December 23, 2010
Countries around the globe were effected by abnormal weather this year around July, and many countries in northern hemisphere including Japan suffered from extreme heat, as explained in the previous article Abnormal Weather Worldwide – Why and Effects. It is surprising to know from recent TV programmes in Japan that the negative effect still prevails which are likely to increase. This is about Japan but the same phenomenon may well apply to other countries worldwide as well.
1. How has the weather been since September in Japan?
The temperature has been higher than previous years in general, and in December there have been days that are much warmer and days that are much colder than normally in this time of the year. The warm days are assumed to be due to the global warming and extreme heat in summer of northern hemisphere, and the cold days are due to unusually strong cold air that occasionally covers Japan this time of the year. The drastic up and down of temperature is similar to what it was in spring, and people are having difficulties to cope with the drastic temperature fluctuation.
2. What are some specific negative effects of mid-year abnormal weather at this time of the year?
1) Increase in egg price
Egg price has gone up by almost 20% in the last few months for 2 reasons. One is the fact that many chickens have been killed with break out of pandemic bird flu earlier this year (around May) in Miyazaki prefecture and recent outbreak in Tottori prefecture. The other is the mid-year extreme heat.
The extreme heat in summer was a great stress to chickens that survived the pandemic flu outbreak as well as to humans. This made them bearing fewer eggs than usual even if they did bear (e.g. chickens that usually bear 2 eggs bear only 1 this year), and the eggs they bore are all smaller than the ones they usually bear.
Thus, extreme heat led to egg shortage and increase in egg price, as much as by 20% in the last few months, negatively impacting Christmas and Japanese New Year necessity businesses as well as the overall Japanese citizens. Christmas cake manufacturers are severely hit by the egg price increase because egg is inevitable in making cakes. Companies that make and sell “dashimaki”, a Japanese food made from egg always included in “osechi”, the Japanese traditional New Year cuisine, are also severely hit.
2) Increase in red salmon price and negative effect on local employment
The price of red salmon, another inevitable ingredient for “osechi”, also increased drastically as much as by 50%. This is because due to mid-year extreme heat the average sea temperature from September to December has been 1-2℃ higher than previous years, and therefore red salmons that prefer lower sea temperature do not come to coastal shore, the usual fishing zone.
Similar phenomenon has been pointed out for many other fisheries, all attributing to global warming; however, the case of red salmon for this year is prominent. Red salmons caught this year are only 60% of previous year level even when fishermen have been working longer hours.
Decrease in yield of red salmons has not only led to increase in price but also started to negatively affect employment of local fishing cities, where their economy and employment rely on fishery.
3. The author’s final thoughts
The TV programmes reported the above 2 cases as negative effects of mid-year extreme heat but the author feels it is also the result of the long year global warming. It is just that the phenomenon is prominent this year because of the mid-year extreme heat we had this year, and that the ingredients whose price have gone up rapidly this time of the year are of cuisines essential for winter seasonal greetings in Japan. Therefore focusing on businesses of such hard-hit winter seasonal cuisines, saying that they are all due to mid-year extreme was an effective tactic for mass media because it was timely and newsworthy, being able to attract interest and attention of audience.
From everyday shopping, the author has realized that prices of other foods are also above previous year level, higher than normal inflation rate. This is mentioned occasionally, reason being abnormal weather, and some experts estimate that the total cost of foods per household in Japan would likely to go up by as much as 50% after New Year. The true negative effects of mid-year extreme heat of 2010 are yet to come, and it would directly affect lives of people in Japan and possibly worldwide.
Countries around the globe were effected by abnormal weather this year around July, and many countries in northern hemisphere including Japan suffered from extreme heat, as explained in the previous article Abnormal Weather Worldwide – Why and Effects. It is surprising to know from recent TV programmes in Japan that the negative effect still prevails which are likely to increase. This is about Japan but the same phenomenon may well apply to other countries worldwide as well.
1. How has the weather been since September in Japan?
The temperature has been higher than previous years in general, and in December there have been days that are much warmer and days that are much colder than normally in this time of the year. The warm days are assumed to be due to the global warming and extreme heat in summer of northern hemisphere, and the cold days are due to unusually strong cold air that occasionally covers Japan this time of the year. The drastic up and down of temperature is similar to what it was in spring, and people are having difficulties to cope with the drastic temperature fluctuation.
2. What are some specific negative effects of mid-year abnormal weather at this time of the year?
1) Increase in egg price
Egg price has gone up by almost 20% in the last few months for 2 reasons. One is the fact that many chickens have been killed with break out of pandemic bird flu earlier this year (around May) in Miyazaki prefecture and recent outbreak in Tottori prefecture. The other is the mid-year extreme heat.
The extreme heat in summer was a great stress to chickens that survived the pandemic flu outbreak as well as to humans. This made them bearing fewer eggs than usual even if they did bear (e.g. chickens that usually bear 2 eggs bear only 1 this year), and the eggs they bore are all smaller than the ones they usually bear.
Thus, extreme heat led to egg shortage and increase in egg price, as much as by 20% in the last few months, negatively impacting Christmas and Japanese New Year necessity businesses as well as the overall Japanese citizens. Christmas cake manufacturers are severely hit by the egg price increase because egg is inevitable in making cakes. Companies that make and sell “dashimaki”, a Japanese food made from egg always included in “osechi”, the Japanese traditional New Year cuisine, are also severely hit.
2) Increase in red salmon price and negative effect on local employment
The price of red salmon, another inevitable ingredient for “osechi”, also increased drastically as much as by 50%. This is because due to mid-year extreme heat the average sea temperature from September to December has been 1-2℃ higher than previous years, and therefore red salmons that prefer lower sea temperature do not come to coastal shore, the usual fishing zone.
Similar phenomenon has been pointed out for many other fisheries, all attributing to global warming; however, the case of red salmon for this year is prominent. Red salmons caught this year are only 60% of previous year level even when fishermen have been working longer hours.
Decrease in yield of red salmons has not only led to increase in price but also started to negatively affect employment of local fishing cities, where their economy and employment rely on fishery.
3. The author’s final thoughts
The TV programmes reported the above 2 cases as negative effects of mid-year extreme heat but the author feels it is also the result of the long year global warming. It is just that the phenomenon is prominent this year because of the mid-year extreme heat we had this year, and that the ingredients whose price have gone up rapidly this time of the year are of cuisines essential for winter seasonal greetings in Japan. Therefore focusing on businesses of such hard-hit winter seasonal cuisines, saying that they are all due to mid-year extreme was an effective tactic for mass media because it was timely and newsworthy, being able to attract interest and attention of audience.
From everyday shopping, the author has realized that prices of other foods are also above previous year level, higher than normal inflation rate. This is mentioned occasionally, reason being abnormal weather, and some experts estimate that the total cost of foods per household in Japan would likely to go up by as much as 50% after New Year. The true negative effects of mid-year extreme heat of 2010 are yet to come, and it would directly affect lives of people in Japan and possibly worldwide.
2010年12月19日日曜日
Japanese New Graduates Struggle Finding Jobs
Osaka – Sunday, December 19, 2010
Many Japanese mass media reported around November 21 that new graduates in Japan are struggling to get a job to start their career, and since then public and private sectors and universities have taken measures supporting as many new graduates finding a job. However, whether majority of new graduates manage to find a job by the end of March 2011 upon graduation to start working on April 1 is a question.
1. What is the usual process and timeline of recruiting new graduates?
In Japan, companies would start recruiting new graduates more than one year they start working (e.g. in autumn 2010 for new graduates who are to start working from April 2012; this is because in Japan school year starts from April), and it is a rule in Japan that on October 1 every year, companies hold a ceremony to officially give offer to the new graduates who are to start working 6 months later in April.
This means that recruiting companies and supporting universities usually switch their target of new graduate recruitment/support in October. For example, they would have been supporting job hunting of students who are to graduate in March 2011 until September 2010, but from October finish supporting them and start supporting students who are to graduate in March 2012.
2. How successful is job hunting of new graduates who should be start working in April 2011?
Many new graduates are struggling to find a job. The percentage of new graduates who were successful in officially offered a job this October was the lowest in history, 57.6%, which was minus 4.9% from last year. Approximately 410,000 students who are to graduate in March 2011 are estimated to want to find a job in private sector; however, as many as 170,000 of them have not yet found a job.
With this pace, it is quite possible that the percentage of students who managed to find a job upon graduation would be lower than the current lowest history of 91.1%, recorded in 1999.
3. What countermeasures are taken so that more new graduates can find a job?
This year, private and public sectors and universities would continue supporting students with upmost efforts who are to graduates in March 2011 after September 2010 as well, with the objective of maximizing the percentage of students who have managed to find a job by the time they graduation in March 2011.
For example, one of a leading company that provides job hunting information and services started to hosted employment fairs from December that will be held until February in 7 major cities nationwide including Tokyo, Osaka and Nagoya. Small and mid-sized companies can participate in the fairs for free. It is expected that total of 380 companies and 7800 students to participate in the fairs. It is extremely exceptional that such a large employment fairs are held this time of the year. In the fair interviewing booths are to be made to help companies give the offer on the day.
Other leading companies of the same/similar industry started a new business of introducing internship opportunities to 10,000 students in October. This will be held until March 2011 and the students will be sent as interns to workplaces such as factories of small and mid-sized companies. Such business can benefit from subsidiary of Small and Medium Enterprise Agency. 7000 yen/day will be given to an intern and 3500 yen/day will be given to a company that accepts interns. Small and Medium Enterprise Agency will also collaborate with regional association/organizations of small and mid-sized companies, and plan to send total of 10,000 students, including those who have graduated but have not managed to find a job, to small and mid-sized companies from October 2010 to March 2011.
The government has allocated with urgency total of 2.5 billion yen to make as many new graduates as possible employed, and subsidiaries are to be given to each company such as the mentioned above will from this budget. In addition, the government increased the number of universities with career counselors from 250 to 500, and introduced a system in which incentives will be given to companies that have hired people who have graduated within 3 years.
4. The author’s final thoughts
The issue is not simply about the imbalance of the number of job hunters and number of jobs available in the labour market. The issue is also about mismatch of multiple factors.
Many students who graduated 1999 – 2004 (employment ice age) could not find a job and has not been able to find a full time job even after the economy recovered in 2005, and this became a critical social issue. And with the recent worldwide recession, large companies have been holding back recruiting and hiring. So to some extent it is true that the issue attributes to decrease in number of jobs available in the labour market.
However, it is a reality that quite a few small and mid-sized companies are still short of workers. Thus, eliminating mismatch by connecting small and mid-sized companies and students has started to emerge as a new business/market for recruiting related companies. The countermeasures mentioned above are a few examples of such new businesses.
Another mismatch factor is the mismatch between the type of job the job seekers expect and the skills and competencies the hiring companies expects. This applies to job seekers who are not new graduates as well. The author would like to discuss this in one of the upcoming article.
Many Japanese mass media reported around November 21 that new graduates in Japan are struggling to get a job to start their career, and since then public and private sectors and universities have taken measures supporting as many new graduates finding a job. However, whether majority of new graduates manage to find a job by the end of March 2011 upon graduation to start working on April 1 is a question.
1. What is the usual process and timeline of recruiting new graduates?
In Japan, companies would start recruiting new graduates more than one year they start working (e.g. in autumn 2010 for new graduates who are to start working from April 2012; this is because in Japan school year starts from April), and it is a rule in Japan that on October 1 every year, companies hold a ceremony to officially give offer to the new graduates who are to start working 6 months later in April.
This means that recruiting companies and supporting universities usually switch their target of new graduate recruitment/support in October. For example, they would have been supporting job hunting of students who are to graduate in March 2011 until September 2010, but from October finish supporting them and start supporting students who are to graduate in March 2012.
2. How successful is job hunting of new graduates who should be start working in April 2011?
Many new graduates are struggling to find a job. The percentage of new graduates who were successful in officially offered a job this October was the lowest in history, 57.6%, which was minus 4.9% from last year. Approximately 410,000 students who are to graduate in March 2011 are estimated to want to find a job in private sector; however, as many as 170,000 of them have not yet found a job.
With this pace, it is quite possible that the percentage of students who managed to find a job upon graduation would be lower than the current lowest history of 91.1%, recorded in 1999.
3. What countermeasures are taken so that more new graduates can find a job?
This year, private and public sectors and universities would continue supporting students with upmost efforts who are to graduates in March 2011 after September 2010 as well, with the objective of maximizing the percentage of students who have managed to find a job by the time they graduation in March 2011.
For example, one of a leading company that provides job hunting information and services started to hosted employment fairs from December that will be held until February in 7 major cities nationwide including Tokyo, Osaka and Nagoya. Small and mid-sized companies can participate in the fairs for free. It is expected that total of 380 companies and 7800 students to participate in the fairs. It is extremely exceptional that such a large employment fairs are held this time of the year. In the fair interviewing booths are to be made to help companies give the offer on the day.
Other leading companies of the same/similar industry started a new business of introducing internship opportunities to 10,000 students in October. This will be held until March 2011 and the students will be sent as interns to workplaces such as factories of small and mid-sized companies. Such business can benefit from subsidiary of Small and Medium Enterprise Agency. 7000 yen/day will be given to an intern and 3500 yen/day will be given to a company that accepts interns. Small and Medium Enterprise Agency will also collaborate with regional association/organizations of small and mid-sized companies, and plan to send total of 10,000 students, including those who have graduated but have not managed to find a job, to small and mid-sized companies from October 2010 to March 2011.
The government has allocated with urgency total of 2.5 billion yen to make as many new graduates as possible employed, and subsidiaries are to be given to each company such as the mentioned above will from this budget. In addition, the government increased the number of universities with career counselors from 250 to 500, and introduced a system in which incentives will be given to companies that have hired people who have graduated within 3 years.
4. The author’s final thoughts
The issue is not simply about the imbalance of the number of job hunters and number of jobs available in the labour market. The issue is also about mismatch of multiple factors.
Many students who graduated 1999 – 2004 (employment ice age) could not find a job and has not been able to find a full time job even after the economy recovered in 2005, and this became a critical social issue. And with the recent worldwide recession, large companies have been holding back recruiting and hiring. So to some extent it is true that the issue attributes to decrease in number of jobs available in the labour market.
However, it is a reality that quite a few small and mid-sized companies are still short of workers. Thus, eliminating mismatch by connecting small and mid-sized companies and students has started to emerge as a new business/market for recruiting related companies. The countermeasures mentioned above are a few examples of such new businesses.
Another mismatch factor is the mismatch between the type of job the job seekers expect and the skills and competencies the hiring companies expects. This applies to job seekers who are not new graduates as well. The author would like to discuss this in one of the upcoming article.
2010年12月12日日曜日
Japanese Companies Leverage China/Asia Capital for Survival
Osaka – Sunday, December 12, 2010
A recent article by Nikkei, Japanese newspaper specialized in business and economy, introduced an interesting way in which some Japanese companies leverage China and Asia capital to survive in the turbulent global economy.
The author feels that this can be a clue to many other Japanese companies in creating their own strategy to survive in the today’s global economy, although there is a risk of outflow of technologies. It is because this is an option of out-of-the-box thinking that is not chosen by many major Japanese companies yet this can be an extremely effective one, leveraging the strength of Japan.
1. What is the recent phenomenon in which Japanese companies leverage Asian capital? Why such phenomenon started to emerge?
1) Phenomenon
It is, so to speak, “Made in Chapan (‘China’ and ‘Japan’ coined together)”, convergence of China’s capital and Japan’s technology and brand. Asia (China) capital acquires underperforming Japanese companies, hotels, consumer electronics and apparel in particular, and creates new value and business to provide to worldwide market.
2) Background
(1) China and Asia are promising, growing markets.
(2) China in particular has abundant capital.
(3) “Made in Japan” is an excellent weapon (brand) in global business yet Japanese companies have not been able to leverage it sufficiently.
(4) Not many Japanese companies are financially capable of entering Asia/China market from scratch on their own.
2. What are concrete, successful cases of “made in Chapan”?
1) Hotel
(1) Phenomenon
Among 10 hotels/real estate etc. that needs restructuring, as many as 8 are recently acquired by China and Asia funds. Such funds calculate acquisition cost on condition that they will market go China and other Asian countries i.e. market of 1.3 billion population or more, which would be far competitive price calculated by Japanese funds that calculate their acquisition cost based on only Japan domestic market. Moreover, even if they are failing companies, they are uncut diamonds in the eyes of Chinese and other Asian funds.
(2) In the case of Chikusenso Mt. Zao Resort & Spa
Chikusenso Mt. Zao Resort & Spa, located in Zao National Park in Miyagi prefecture, that had failed due to decrease in skiers in this area in the recession, was acquired by Osbert International, based in Hong Kong. The fund invested total of more than 3 billion yen to acquire and revitalized the hotel and re-opened in April this year. The fund also made effort and succeeded to start flight (first limited time) between Hong Kong and Sendai by Hong Kong Dragon Airlines.
The main target of the luxurious resort hotel with spa is the rich people of China and other countries in Asia, whose evaluation of the Japanese culture is quite high. The concept of the hotel is “Japanese modern”, and the price is over 66,000 yen per person (twin room).
2) Consumer Electronics
(1) Phenomenon
Japanese mid-sized consumer electronics makers visit everyday a long-established consumer electronics mass merchandiser that have been in the red for years, requesting to start trading with them. This is because the long-established consumer electronics mass merchandiser has the access to the distribution channel in China.
(2) In the case of Laox Co., Ltd
Laox Co., Ltd, a long-established mass merchandiser, was acquired by a China consumer electronics mass merchandiser leader last year. This opened an access to approximately 1300 stores in China, a promising and growing market, owned by the China mass merchandiser. Since then, business partners of Laox doubled or more because the partners have requested to trade with Laox, expecting to benefit from the access to China that Laox possesses in entering the promising market of China.
For this reason, Matsuzakaya, a department store in Ginza (area in Tokyo where many department stores are located) opened a Laox franchise in their department store on November 20 this year. Matsuzakaya is said to have negotiated with other companies in opening a new franchise but chose Laox with the objectives of attracting tourists from China, in addition to competitive financial requirements presented by Laox.
3) Apparel
(1) Phenomenon
Japanese long-established apparel maker acquired by a Chinese company, and expand distribution channel in China.
(2) In the case of Renown, Inc.
Renown, Inc., a Japanese long-established apparel maker, plans to open 2000 stores in China in the next 10 years, which became feasible after being acquired by the Chinese company. The strategy of the Chinese company is to penetrate the China market with high quality product made in Japan.
For this reason, the top executive of the company says that made in Japan products are of longing of Chinese customers and therefore is determined to make all Renown products made in Japan. This is not easy because of the limited equipment/production capacities in Japan. The top executive of Renown comments that this incident is a good opportunity for them to re-acknowledge their value.
To the author, the fact that Chinese companies evaluate highly of “producing in Japan” is extremely meaningful when Japanese companies shift their production to overseas (China in particular) as mentioned in many of her previous articles including "High Yen Slashes Profitability of Japanese Companies – The Reality".
A recent article by Nikkei, Japanese newspaper specialized in business and economy, introduced an interesting way in which some Japanese companies leverage China and Asia capital to survive in the turbulent global economy.
The author feels that this can be a clue to many other Japanese companies in creating their own strategy to survive in the today’s global economy, although there is a risk of outflow of technologies. It is because this is an option of out-of-the-box thinking that is not chosen by many major Japanese companies yet this can be an extremely effective one, leveraging the strength of Japan.
1. What is the recent phenomenon in which Japanese companies leverage Asian capital? Why such phenomenon started to emerge?
1) Phenomenon
It is, so to speak, “Made in Chapan (‘China’ and ‘Japan’ coined together)”, convergence of China’s capital and Japan’s technology and brand. Asia (China) capital acquires underperforming Japanese companies, hotels, consumer electronics and apparel in particular, and creates new value and business to provide to worldwide market.
2) Background
(1) China and Asia are promising, growing markets.
(2) China in particular has abundant capital.
(3) “Made in Japan” is an excellent weapon (brand) in global business yet Japanese companies have not been able to leverage it sufficiently.
(4) Not many Japanese companies are financially capable of entering Asia/China market from scratch on their own.
2. What are concrete, successful cases of “made in Chapan”?
1) Hotel
(1) Phenomenon
Among 10 hotels/real estate etc. that needs restructuring, as many as 8 are recently acquired by China and Asia funds. Such funds calculate acquisition cost on condition that they will market go China and other Asian countries i.e. market of 1.3 billion population or more, which would be far competitive price calculated by Japanese funds that calculate their acquisition cost based on only Japan domestic market. Moreover, even if they are failing companies, they are uncut diamonds in the eyes of Chinese and other Asian funds.
(2) In the case of Chikusenso Mt. Zao Resort & Spa
Chikusenso Mt. Zao Resort & Spa, located in Zao National Park in Miyagi prefecture, that had failed due to decrease in skiers in this area in the recession, was acquired by Osbert International, based in Hong Kong. The fund invested total of more than 3 billion yen to acquire and revitalized the hotel and re-opened in April this year. The fund also made effort and succeeded to start flight (first limited time) between Hong Kong and Sendai by Hong Kong Dragon Airlines.
The main target of the luxurious resort hotel with spa is the rich people of China and other countries in Asia, whose evaluation of the Japanese culture is quite high. The concept of the hotel is “Japanese modern”, and the price is over 66,000 yen per person (twin room).
2) Consumer Electronics
(1) Phenomenon
Japanese mid-sized consumer electronics makers visit everyday a long-established consumer electronics mass merchandiser that have been in the red for years, requesting to start trading with them. This is because the long-established consumer electronics mass merchandiser has the access to the distribution channel in China.
(2) In the case of Laox Co., Ltd
Laox Co., Ltd, a long-established mass merchandiser, was acquired by a China consumer electronics mass merchandiser leader last year. This opened an access to approximately 1300 stores in China, a promising and growing market, owned by the China mass merchandiser. Since then, business partners of Laox doubled or more because the partners have requested to trade with Laox, expecting to benefit from the access to China that Laox possesses in entering the promising market of China.
For this reason, Matsuzakaya, a department store in Ginza (area in Tokyo where many department stores are located) opened a Laox franchise in their department store on November 20 this year. Matsuzakaya is said to have negotiated with other companies in opening a new franchise but chose Laox with the objectives of attracting tourists from China, in addition to competitive financial requirements presented by Laox.
3) Apparel
(1) Phenomenon
Japanese long-established apparel maker acquired by a Chinese company, and expand distribution channel in China.
(2) In the case of Renown, Inc.
Renown, Inc., a Japanese long-established apparel maker, plans to open 2000 stores in China in the next 10 years, which became feasible after being acquired by the Chinese company. The strategy of the Chinese company is to penetrate the China market with high quality product made in Japan.
For this reason, the top executive of the company says that made in Japan products are of longing of Chinese customers and therefore is determined to make all Renown products made in Japan. This is not easy because of the limited equipment/production capacities in Japan. The top executive of Renown comments that this incident is a good opportunity for them to re-acknowledge their value.
To the author, the fact that Chinese companies evaluate highly of “producing in Japan” is extremely meaningful when Japanese companies shift their production to overseas (China in particular) as mentioned in many of her previous articles including "High Yen Slashes Profitability of Japanese Companies – The Reality".
2010年12月5日日曜日
Profitability Recovery of Japanese Companies Under High Yen
Osaka – Sunday, December 5, 2010
In the previous article "High Yen Slashes Profitability of Japanese Companies – The Reality" the author introduced some cases of how Japanese companies including those that are usually regarded as globally competitive have been suffering from the recent high yen.
In this article, the author would like to introduce some cases of how other companies have managed to recover their revenue and profitability despite the recent high yen.
1. How much Japanese listed companies recovered their performance in Apr-Sep 2010 despite extreme high yen?
1) Overall
The increase rate of consolidated operating profit was 2.4 times that of the previous year, which was much more than the original estimation of 70% increase from the previous year. The profit level recovered to 98% of Apr-Sep 2008 (i.e. before the worldwide economic crisis), and to 80% of Apr-Sep 2007 (i.e. the peak).
2) Specific examples
(1) Ushio, Inc.
Business of Ushio, Inc., whose business supports 3D movie boom with 3D film projector for theatres, continues to be strong even in high yen situation. They could only sell 3 products 10 years ago but their business is expected to grow as much as 7500 units, with global market share of 60%.
(2) Ricoh
Ricoh’s business in Americas that had been sluggish started to recover despite the recent high yen. They had thoroughly transferred sales know-how to the U.S. companies they had acquired, and their America business is expected to become positive soon in 2011, first time after 14 quarters.
2. How did Japanese companies manage to recover profitability despite the recent high yen?
1) Cost reduction
Primary reason for the profitability recovery is extreme cost reduction measures since the worldwide recession, which is sometimes said as practically the biggest post-war restructuring. Manufacturers drastically reduced cost (personnel etc.) last year to lower break even point by 13%. This decrease percentage is the biggest in the past 25 years (i.e. statistics is available and thus can compare).
Companies have been continuing their efforts to cut costs and improve productivity. For example, the reason for increase in Hitachi’s operating profit for Apr-Sep 2010 was increase in revenue and cost reduction (50% each).
Positive effects of such of their efforts have been conspicuous; operating profit of Japanese companies in total increased by 2.8% to reach 5.6%. The increase rate is the biggest since the economic bubble collapsed. The operating profit of 5.6% is almost 5.8% or Apr-Sep 2007, which was the peak.
2) Demand growth of emerging markets
Much of their sales and business growth came from growing demand of emerging market, Asia in particular. For example, increase of revenue of Komatsu in total was 33% when it was 58% for China. Increase of revenue of Nissan in total was 28% when it was 64% for Asia.
Some others were especially successful in business of emerging markets with launching products meeting local needs. For example, Sony developed and launched low cost flat panel TVs with limited functions in India and deprived the top market share position in India of Samsung.
3) Countermeasures to the high yen
This includes production shift to overseas as mentioned in the previous article, leveraging low cost components supplied from overseas, and owning both receivables and payables in foreign currencies.
For example, Hitachi Construction Machinery Co., Ltd. increased their production in Europe to raise their overseas production rate. Kawasaki Kisen Kaisha, Ltd. started to study accepting some portion of their receivables of their newly supplied products in USD instead of in Japanese yen. NEC separated their export-oriented semiconductor business and as a result they are no longer affected by foreign exchange fluctuation against USD. Toshiba, with similar measure, had positive effect with high yen, benefiting also with production outsourcing expansion to overseas contractors.
3. What is the outlook for the latter fiscal year of 2010?
1) Overall
Anxiety psychology proliferates among Japanese companies due to continuing high yen, termination of government’s economy stimulation incentives and slow recovery of economy of developed countries; however, there are some possible solutions of overcoming such anxiety factors. One is cultivating and harvesting the “new revenue seed” that was planted and came out in the first half of 2010. Another is flexibly adapting to external and internal environmental changes to upgrade available technologies and open/create new market.
2) Specific examples
(1) Ozu Corporation
Ozu Corporation, a leading paper distributor in Japan, started new business, operating their new factory of plants. With decreasing paper demand, they aim to benefit the recent trend of “security of foods”.
(2) NHK Spring Co., Ltd.
NHK Spring Co., Ltd started production and supply of new suspension that supports magnetic head of HDD (Hard Disk Drive). They already enjoy global market share of 45% but aim to further get ahead of their competitors with next generation products whose control accuracy has more than doubled.
In the previous article "High Yen Slashes Profitability of Japanese Companies – The Reality" the author introduced some cases of how Japanese companies including those that are usually regarded as globally competitive have been suffering from the recent high yen.
In this article, the author would like to introduce some cases of how other companies have managed to recover their revenue and profitability despite the recent high yen.
1. How much Japanese listed companies recovered their performance in Apr-Sep 2010 despite extreme high yen?
1) Overall
The increase rate of consolidated operating profit was 2.4 times that of the previous year, which was much more than the original estimation of 70% increase from the previous year. The profit level recovered to 98% of Apr-Sep 2008 (i.e. before the worldwide economic crisis), and to 80% of Apr-Sep 2007 (i.e. the peak).
2) Specific examples
(1) Ushio, Inc.
Business of Ushio, Inc., whose business supports 3D movie boom with 3D film projector for theatres, continues to be strong even in high yen situation. They could only sell 3 products 10 years ago but their business is expected to grow as much as 7500 units, with global market share of 60%.
(2) Ricoh
Ricoh’s business in Americas that had been sluggish started to recover despite the recent high yen. They had thoroughly transferred sales know-how to the U.S. companies they had acquired, and their America business is expected to become positive soon in 2011, first time after 14 quarters.
2. How did Japanese companies manage to recover profitability despite the recent high yen?
1) Cost reduction
Primary reason for the profitability recovery is extreme cost reduction measures since the worldwide recession, which is sometimes said as practically the biggest post-war restructuring. Manufacturers drastically reduced cost (personnel etc.) last year to lower break even point by 13%. This decrease percentage is the biggest in the past 25 years (i.e. statistics is available and thus can compare).
Companies have been continuing their efforts to cut costs and improve productivity. For example, the reason for increase in Hitachi’s operating profit for Apr-Sep 2010 was increase in revenue and cost reduction (50% each).
Positive effects of such of their efforts have been conspicuous; operating profit of Japanese companies in total increased by 2.8% to reach 5.6%. The increase rate is the biggest since the economic bubble collapsed. The operating profit of 5.6% is almost 5.8% or Apr-Sep 2007, which was the peak.
2) Demand growth of emerging markets
Much of their sales and business growth came from growing demand of emerging market, Asia in particular. For example, increase of revenue of Komatsu in total was 33% when it was 58% for China. Increase of revenue of Nissan in total was 28% when it was 64% for Asia.
Some others were especially successful in business of emerging markets with launching products meeting local needs. For example, Sony developed and launched low cost flat panel TVs with limited functions in India and deprived the top market share position in India of Samsung.
3) Countermeasures to the high yen
This includes production shift to overseas as mentioned in the previous article, leveraging low cost components supplied from overseas, and owning both receivables and payables in foreign currencies.
For example, Hitachi Construction Machinery Co., Ltd. increased their production in Europe to raise their overseas production rate. Kawasaki Kisen Kaisha, Ltd. started to study accepting some portion of their receivables of their newly supplied products in USD instead of in Japanese yen. NEC separated their export-oriented semiconductor business and as a result they are no longer affected by foreign exchange fluctuation against USD. Toshiba, with similar measure, had positive effect with high yen, benefiting also with production outsourcing expansion to overseas contractors.
3. What is the outlook for the latter fiscal year of 2010?
1) Overall
Anxiety psychology proliferates among Japanese companies due to continuing high yen, termination of government’s economy stimulation incentives and slow recovery of economy of developed countries; however, there are some possible solutions of overcoming such anxiety factors. One is cultivating and harvesting the “new revenue seed” that was planted and came out in the first half of 2010. Another is flexibly adapting to external and internal environmental changes to upgrade available technologies and open/create new market.
2) Specific examples
(1) Ozu Corporation
Ozu Corporation, a leading paper distributor in Japan, started new business, operating their new factory of plants. With decreasing paper demand, they aim to benefit the recent trend of “security of foods”.
(2) NHK Spring Co., Ltd.
NHK Spring Co., Ltd started production and supply of new suspension that supports magnetic head of HDD (Hard Disk Drive). They already enjoy global market share of 45% but aim to further get ahead of their competitors with next generation products whose control accuracy has more than doubled.
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