Despite its small size, Japan is a major economic power in the modern world, currently it’s the 3rd largest economy in the entire world.
Japan has some cultural philosophies which they consider to be a reason for much of their success in the economic sector. For instance their principal called “nemawashi” which respects inputs from all the employees working for the company regarding major business changes. In total, there are 251 major Japanese companies. Collectively, having a combined market value of $2.609 trillion, with $18.086 trillion in assets; generating $4.725 trillion in revenues and $109.4 billion in profits.
Manufacturing is company’s strength. One common pattern for Japanese companies is to import raw materials and convert them into finalized products for export. One of the most promising fields for future economic growth is robotics in which Japanese technology leads the world.
The Bank of Japan’s (BOJ) Tankan survey showed the country’s large manufacturers are more optimistic than expected, with the index hitting its highest level since March 2014, before a sales tax hike took effect.
Japan relies on domestic consumption for about 60% of its economy, but it has been recovering from a sales tax hike which has dampened spending.
Its economy has been facing include wages, which have remained stagnant for several years, together with a weaker yen, which makes imported goods more expensive for consumers on the home front. On the upside however, the weaker yen does give a boost to the country’s big exporters, like Toyota, because it makes their goods cheaper to buy overseas. It also helps their bottom line when they repatriate money made from overseas operations.
Japan’s large manufacturers’ index for June came in at positive 15, compared with expectations in a Reuters poll for a positive 12.
The Japanese electronics industry is the largest consumer electronics industry, though the share of these Japanese companies gradually declined due to the weak performance of digital TVs as well as the concept of convergence being proliferated by smartphones. Multifunctional smartphones have made consumer electronics like Mp3 players or cameras a secondary preference.
Never the less Japanese companies have been responsible for setting the bench for a number of important innovations, including having pioneered the transistor radio and the Walkman (SONY) the first mass-produced laptops (TOSHIBA) the VHS recorder (JVC) and solar cells and LCD screens (Sharp).
Major Japanese electronics companies include Canon, Casio, Citizen, Fujitsu, Nikon, Pioneer, Sony, Toshiba.
The Japanese automotive industry is one of the most prominent and largest industries in the world.
Japan, the 3rd largest automobile market in the world, after China and the U.S., is also the industrialized world’s most closed and protectionist market. Japan has been in the top three of the countries with most cars, since the 1960s, surpassing Germany
Total auto imports to Japan from the world measure only 3.9% of the market implying that Japanese automakers control 96% of their domestic auto market. Japan’s Closed Market was a deliberate effort of government policy. It was only in the 1970s, that Japan finally opened its market to limited import participation, lowered its prohibitive tariffs and investment restrictions. It had resulted in a massive and robust industry, controlling nearly 100% of its market.
Japan is now currently the third largest automotive producer in the world with an annual production of 9.9 million automobiles in 2012. The country is home to a number of companies that produce cars, construction vehicles, motorcycles, ATVs, and engines. Japanese automotive manufacturers include Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi, Subaru, Isuzu, Kawasaki, Yamaha, Mitsuoka
Elucidating few out of the scrumptious lot Japanese economy has been energized by its authentic mainstream companies marking a cut above the rest with their uphill battle. Keeping few companies at focal point, one can acknowledge the aggrandized and magnified Japanese economy with repect to booming industry sectors.
Founded in 1937, Toyota Motor Corporation is headquartered in Aichi, Japan. They are one of the largest automobile manufacturers in the world, in terms of production volume. Although Toyota is mainly popular as an automotive company, they are still in the textile business as well. The company’s global vision is to lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people.
1. Toyota was ranked as the third largest car manufacturer in the world in 2011, behind General Motors and Volkswagen Group,
2. Toyota is the world’s largest manufacturer of hybrid vehicles
3. 80% of Toyotas Sold in the Last 20 Years Are Still on the Road Today
Honda Motor Co. Ltd. founded in 1948 is headquartered in Tokyo, Japan. The company’s fundamental beliefs are ‘Respect for the Individual’ and ‘The Three Joys’ which are namely- buying excellent products; selling products and establishing long terms relationships with the customer ; and of creating products which exceed expectations. The company manufactures a wide variety of products and not just cars and motorcycles. Their other offerings include watercrafts, ATVs, aircrafts, mountain bikes, lawn equipment, and solar cells.
1. Supplying products of the highest quality, yet at a reasonable price for worldwide customer satisfaction.
2. Honda is the largest manufacturer of motorcycles in the world
3. Honda became the second largest car manufacturer in Japan in 2001
4. ASIMO (Advanced Step in Innovative Mobility) is an android designed and developed by Honda. It can walk, avoid obstacles and even recognizes faces.
Founded in 1933, Nissan Motor Co. Ltd. seeks to deliver “Innovation That Excites” through all products and experiences through services that deliver superior measurable values to all stakeholders in alliance with Renault. Credibility with strong internal pride and the zest to be an unparalleled company, with a distinguished product line makes a cut above the rest. Moreover, Nissan has started work on driverless cars. They have announced plans to launch numerous autonomous cars by 2020.
1. Climbed the ranks of the Best Global Brands list faster than any other company in the past 5 years.
2. Nissan Leaf retain the position as the world’s bestselling electric vehicle (World car of the year 2011
3. Nissan Note wins Japan’s Automotive Researchers and Journalist Car of the Year 2013
Canon inc. founded on august 12,1937,with its headquarters in Tokyo, Japan is specialized CANON
Canon inc. founded on august 12,1937,with its headquarters in Tokyo, Japan is specialized in the manufacture of imaging and optical products, including cameras, camcorders, photocopiers, steppers, computer printers and medical equipment. To date, Canon has consistently stayed ahead of the times and changing business environments, creating numerous world-leading products.
Canon’s history is a history of embracing challenges, a history of unwavering dedication and diligence. With their motto of Change is progress; transformation is advancement.
1. It aims to recapture growth, and implement various initiatives to achieve the targets and be an Excellent Global Corporation
2. Canon has a primary listing on the Tokyo Stock Exchange and has a secondary listing on the New York Stock Exchange.
3. Canon launched the, the world’s first camera with an embedded micro-computer