Revival of Japan
Forward-Thinking Japanese Companies Are on the Verge of Catalysing a Reversal in Japan’s Long-Term Economic Path
Daizo Motoyoshi, LIXIL Group Corporation
Since the 1990s, Japan’s economy has been stagnating and its once world-beating companies have been overtaken by rivals from other countries. Although many leaders have tried to reignite Japanese economic growth, efforts at structural reform have been slow. But a new, more dynamic business model is emerging that could catalyse a reversal of Japan’s long-term economic deterioration: many forward-thinking Japanese companies are reforming their outdated business practices. These companies could drive growth in Japan – and globally, given that Japan remains a significant player in global economic performance – while serving as a case study for other countries struggling with similar economic issues. These companies could also be a powerful change agent in opening up Japanese society on issues such as gender, meritocracy and acceptance of outsiders.