Japan 1With the enthronement of a new emperor in
May 2019 and the successful hosting of Asia’s
first Rugby World Cup, optimism in Japan
has been running high in recent months.
This enthusiasm is expected to carry over
this year, as the country takes center stage
again with the Tokyo Olympic Games, which
is scheduled to take place this summer.
Meanwhile, Japan's government in Decem-
ber raised its economic growth forecast for
the next fiscal year to 1.4% on the back of
improving domestic demand.
Despite the bright spots, there is no get-
ting away from an uncertain macro environ-
ment plagued by trade tensions, a broader
retreat from globalization and geopolitical
tensions. For some of Japan’s most success-
ful corporates, however, the current bout of
volatility is just another short-term challenge
in their long and successful track record of
overcoming adversity.
Indeed, a focus on the long term and the
ability to adapt to ever-changing conditions
have been the hallmarks of leading compa-
nies such as Canon, Kikkoman and THK.
Yuzaburo Mogi, Honorary CEO and Chair-
man of the Board of Kikkoman Corporation, is
one who is no stranger to taking bold steps in
the face of uncertainty. He led the traditional
soy sauce maker to set up a factory in the
U.S. back in the early 1970s, a daring move
that was decades ahead of its time. Looking
ahead, he believes that companies need to
look beyond just technology and focus on
developing their human capital in order to
succeed.
Fujio Mitarai, Chairman and CEO of
Canon Inc., is another Japanese corporate
leader concentrating beyond the immedi-
ate turbulence to position his company for
future growth well into the middle of this
century. Canon is in the midst of a majortransformation that aims to foster synergies
in new business areas, even as it continues to
pursue a strategy of mergers and acquisitions.
As for Akihiro Teramachi, CEO and Presi-
dent of THK, the aim is to capitalize on the
megatrends of digital technology, aging pop-
ulations and globalization to fuel the com-
pany’s growth. He likens running a business
to a marathon rather than a sprint, stressing
the need to keep a long-term view in order
to reap efficiencies. In 2020, THK will launch
a new service known as OMNIedge—a solu-
tion to predictive failure detection. It works
by installing sensors on existing THK com-
ponents embedded in client machines that
collect and analyze data and provide alerts.
In an era marked by disruption and
change, it will be companies such as these
that will emerge stronger from the immedi-
ate challenges ahead to prosper for many
more generations to come.The country’s corporate lodestars are firmly focused on the horizon in positioning their
companies for continued success.JAPAN 2020:
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