By J. Abegglen
Japan's economic system and companies are getting into the twenty-first century after an extended and tough 'lost decade' of corporation redecorate. They emerge with new administration structures in position, yet with their values unchanged. From the original viewpoint of the author's pioneering research of the Fifties, the monetary structures, body of workers administration equipment and R&D services are re-assessed, as is the function of the company in jap society. The publication deals a entire research of the monetary and business adjustments that experience taken position in Japan via one among its so much very hot commentators.
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Additional info for 21st Century Japanese Management: New Systems, Lasting Values
Fixed assets peaked in March, 1998, and were reduced by more than 40 percent as of March 2003. Total debt was reduced from the March 1998 peak by 37 percent, with bank borrowings down nearly 60 percent and commercial bonds down only 15 percent. In order to stem the drain on equity, and in an effort to rebuild the equity position, NEC took five of its fast growth businesses out in IPOs, retaining full control but cashing in just under a third of the shares. And in its largest effort, what had been the in-house company, NEC Electron Devices, was taken public with great success – and again NEC retained a controlling share position while realizing a gain of ¥155 billion.
4) China and the rest of East Asia have masses of inexpensive workers now unemployed. Take the low skill, labor intensive jobs to them, rather than importing the laborers. This is not hollowing out; it is economic development as those economies benefit and Japan’s labor force is moved up to higher value-added work. True, an aging population poses problems – loss of vigor as younger people are fewer; costs of medical and pension care for the elderly; and lowered economic growth because of a shrinking population.
The company holds more than 68,000 patents, the largest number of any Japanese company. The NEC-developed supercomputer remains first in the world, still beyond the capacity of US makers to build. Nippon Electric Company is considered the leader in the hot research field of nanotechnology and has been the pioneer in research into carbon nanotubes – discovered by Sumio Iijima of NEC – with more than 100 related patents. The company has announced that researchers in their 30s will be appointed as chief researchers in a bid to further activate research operations.
21st Century Japanese Management: New Systems, Lasting Values by J. Abegglen