Appendix: Interviewees, by Industry

Industrial Goods Industries (65 companies)

Company Name Title Name Mo nth/Year

Beverages (4 companies) to Breweries Ltd Chairman Tsutomu Murai Jun. 1987 Kirin Brewery Co. Ltd President Hideo Motoyama Mar. 1991 Ltd President Shininchiro Torii Mar. 1992 Mercian Corp. President Tadao Aug. 1992 Ltd Chairman Kotaro Higuchi Sep. 1994 Building Materials, Glass (5 companies) Chichibu Cement Corp. Chairman Kei Moroi Oct. 1988 Tostem Co. Ltd President Kenjiro Ushioda Dec. 1988 Nippon Gaishi Inc. Chairman Junichi Takemi Dec. 1990 Asahi Glass Co. President Hiromichi Seya Mar. 1993 TOTO Ltd Chairman Yoshio Koga Jun. 1994 Chemicals (4 companies) Asahi Chemical Co. Ltd Chairman Miyazaki Apr. 1988 Mitsubishi Chemical Co. Ltd Chairman Eiji Suzuki May 1988 Shinetsu Chemical Co. Ltd President Chihiro Kanagawa Jul. 1993 Nippon Sanso Corp. Chairman Hideo Mabuchi Aug. 1993

(continued on page 292) Company Name Title Name Month/Year to

Computer, Office Equipment (3 companies) IBM Ltd President Takeo Shiina Jun. 1988 Ltd Chairman Takuma Yamamoto Feb. 1991 Nitsuko Corp. President Toshio Egashira Feb. 1995 Electronics, Electric Equipment (11 companies) Nippon Electric Co. Ltd Chairman Koji Kobayashi Jan. 1987 Mitsubushi Electric Corp Chairman Sadakazu Shinto Jul. 1987 FANAC Co. President Seiemon Inaba Oct. 87 Ushio Inc. Chairman Jiro Ushio Dec. 1988 Ltd President Katsushige Mita Aug. 1989 Corp. Chairman Kazuo Inamori Sep. 1989 OMRON Corp. President Yoshio Tateishi Oct. 1989 Matsushita Electric Industries President Akio Tanii Feb. 1992 Co. Ltd Matsushita Electric Works President Toshio Miyoshi Oct. 1993 Co. Ltd Nissin Electric Co. Ltd Chairman Shin Komatsu Feb. 1994 Hitachi Ltd President Tsutomu Kanai Dec. 1994 Co. Ltd President Yasutaka Murata Mar. 1995 Food (5 companies) Co. Ltd President Katsuhito Utada Sep. 1988 Corp. President Kozo Kaneda May 1991 Q.P. Corp. President Chikao Fujita Oct. 1992 Nippon Flour Mills Co. President Fujio Hasegawa Feb. 1993 Meiji Milk Products Co. Ltd President Hisashi Nakayama Jul. 1994 Industrial Equipment (3 companies) Mitsubishi Heavy Indstries Chairman Yotaro Iida Jul. 1989 Co. Ltd. Ishikawajima-Harima Heavy President Kosaku Inaba Jul. 1991 Industries Co. Ltd Hitachi Zosen Corp. President Yoshihiro Fujii Apr. 1994 Machine, Precision Machine (3 companies) NSK Ltd President Toshio Arata Jul. 1992 Komatu Ltd President Tetsuya Katada Apr. 1994 Co. Ltd President Michio Nakajima Dec. 1993 Metal (3 companies) Co. Ltd Chairman Yutaka Takeda Nov. 1987 Nippon Steel Co. Ltd Chairman Akira Miki Jan. 1991 Daido Steel Co. Ltd President Kenji Tomita Nov. 1994 Sumitomo Metal Industries, Ltd Chairman Yasuo Shingu Jan. 1995

Non-ferrous Metal (2 companies) Sumitomo Electric Works Ltd Chairman Masao Kamei Sep. 1987 Mitsubishi Metal Corp. President Takeshi Nagano Sep. 1990 Sumitomo Electric Works Ltd Chairman Tetsuro Kawakami Apr. 1992 to

(continued on page 294) Company Name Title Name Month /Year -P^

Motor Vehicles (3 companies) Motor Co. Ltd Chairman Shun Ishihara Aug. 1987 Motor Co. Ltd President Tadashi Kume Feb. 1989 Nissan Motor Co. Ltd President Yutaka Kume Aug. 1991 Corp. Chairman Toyoo Tate Jun. 1992 Musical Instruments (1 company) Yamaha Corp. President Hiroshi Kawakami Feb. 1990 Petroleum Refining (2 companies) Toa Nenryo Kogyo K.K. President Nobuyuki Nakahara Feb. 1987 Cosmo Oil Co. Ltd Chairman Yoshiro Nakayama Feb. 1988 Pulp and Paper (1 company) Shinoji (now Oji) Paper Co. Ltd Chairman Fumio Tanaka May 1987 Shinoji (now Oji) Paper Co. Ltd Chairman Jiro Kage Aug. 1990 Pharmaceuticals (4 companies) SmithKline Becham Japan Ltd Chairman Hachiro Koyama Jan. 1990 Eizai Co. Ltd Chairman Yuji Naito Jul. 1990 Pfizer Pharmaceuticals Inc. Chairman Iwao Shino Jun. 1991 Yamanouchi Pharmaceutical Chairman Shigeo Morioka Sep. 1992 Co. Ltd Printing (1 company) Printing Co. Ltd President Kazuo Suzuki Apr. 1990 Rubber (1 company) Corp. President Akira Ieiri Mar. 1988 Scientific, Photographic, and Control Equipment Canon Inc. Chairman Ryuzaburo Kaku Jan. 1989 (3 companies) Fuji Photo Film Co. Ltd President Minoru Onishi May 1992 Co. Ltd President Hiroshi Hamada May 1993

Soaps, Cosmetics (2 companies) Co. Ltd President Yoshiharu Fukuhara Apr. 1989 Kao Corp. President Yoshihiro Maruta May 1990

Textiles (3 companies) , Inc. President Yoshikazu Ito Mar. 1987 Atsugi Nylon Industrial Co. President Rokusuke Hori Nov. 1988 NISSHINBO Industries, Inc. President Tatsuo Tanabe Aug. 1994 Toys (1 company) Co. Ltd President Hiroshi Yamauchi Aug. 1988

Service Industries (28 companies)

Banking (4 companies) Sumitomo Bank President Ko Komatsu Apr. 1987 The Dai-ichi Kangyo Bank Ltd President Shinya Hakura Jan. 1988 The Dai-ichi Kangyo Bank Ltd Chairman Kunitsugu Miyazaki Dec. 1992 Bank of Hachijyuni Chairman Haruo Kobayashi Oct. 1993 Industrial Bank of Japan President Yo Kurosawa Apr. 1995

to (continued on page 296) \Q Company Name Title Name Month/Year Q\

Finance (1 company) The Nomura Securities Co. Ltd Chairman Setsuya Tabuchi Jun. 1989 General Construction (2 companies) Corp. Chairman Rokuro Ishikawa Jul. 1988 Harusuke Imamura Jan. 1992 Security (1 company) Shimizu Corp. President Makoto Iida Mar. 1990 Insurance (4 companies) , Inc. Chairman Haruo Takeda Mar. 1989 The Marine and Fire President Co. Ltd Takahide Sakurai Jun. 1990 The Dai-ichi Mutual Life President Insurance Co. Sukenari Ito Oct. 1991 Nippon Life Insurance Co. President Kenjiro Hata Apr. 1993 The Meiji Mutual Life President Retailing (2 companies) Insurance Co. Mitsukoshi Ltd President Yoshiaki Sakakura Dec. 1991 Ito Yokado Co. Ltd President Toshibumi Suzuki May 1995 Transportation (7 companies) Airline Co. Ltd President Akio Kondo Dec. 1987 Railway East Japan Railway Co. Chairman Isamu Yamashita May 1989 Kinki Nippon Railway Co. Ltd President Shigeichiro Kanamori Nov. 1990 Keio Teito Electric Railway Chairman Kenichi Kuwayama Mar. 1994 Co. Ltd Shipping NYK Line Chairman Kimio Miyaoka Apr. 1991 NYK Line President Jiro Nemoto Nov. 1992 Trucking Co. Ltd Chairman Masao Ogura Oct. 1990 Co. Ltd President Shoichiro Hamanaka Nov. 1991 Tourist (1 company) Hotel Okura Co. President Koji Sato Jun. 1993 Utilities (2 companies) Nippon Telephone & Telegram Chairman Akeo Yamaguchi Sep. 1991 Co. Ltd Tokyo Electric Power Co. Ltd President Sho Nasu Jan. 1993 Wholesaler (3 companies) Nissho-Iwai Trading Co. President/ Masaru Hayami Dec. 1989 Chairman Corp. Chairman Kazuo Haruna Nov. 1993 Corp President Minoru Murofushi Oct. 1994 Total 92 companies Total 100 Top mgt.

to ^1 Notes and References

1 Introduction

1. Yukio Noguchi, Baburu no Keizaigaku (The Economics of the Bubble) (Tokyo: Nikkei Shinbun-sha, 1992), pp. 21-59.

2 The Structure of Management

1. 'Portrait of The Boss', Business Week, 12 October 1992, p. 109. 2. 'After faulting US Workers, Japanese lay into bosses - high wage levels are at issue, but "salary" definition proves elusive,' The Nikkei Weekly, 15 February, p. 11. 3. 'CEOs earns bigger bucks in US than in Japan, Germany, UK: Survey of top 200 companies found very little relationship between pay and performance', San Francisco, 4 October, 1994, p. D8 (business section) © 1994, Southam, Inc. 4. Akira Murata, The Wonder Stones (autobiography) (Tokyo: Nihon Keizai Shimbun, 1994), p. 46. 5. 'Restore the rein of the company to the Matsushitas?', Nihon Keizai Shinbun, 24 May 1996. 6. Yomiuri Shinbun, 17 July 1993. 7. Table of effective corporate tax rates for top Japanese corpora• tions,' Forbes-Japan, December 1993, pp. 58-61. 8. 'How to make hidden money through manipulating accounting practices', Forbes-Japan (Gyosei Corp), December 1993 pp. 62-3. 9. 'Hiroshi Kawakami resigns as director of the board', Nikkei Sangyou Shinbun, 20 March 1993, p. 1. 10. 'Major shareholders turn their back on the president', Nikkei Shinbun, 15 January 1994.

3 Efficient Returns on Human Resources

1. The Miike labour dispute centred on the loss of jobs in the coal industry, but became a critical dispute for the Japanese labour movement as a whole. Following the switch in government en• ergy policy from coal to oil, many small and medium-sized coalmines were closed and a large number of workers lost their jobs. The Coalmine Company decided to dismiss 1278 workers at its Miike mine. When the labour union called a strike, 299 300 Notes and References

the company organised a second labour union to try to divide the labour movement. The company also hired a goon squad, who stabbed several workers to death. The national labour organ• isation was very ideological and used the Miike dispute in its campaign against the Japan-US Security Treaty. However the organisation of Japanese labour into an in-house union meant that the Mitsui labour union failed to obtain the support of other miners' unions and finally surrendered. 2. Shikanai was once a secretary general and later became presi• dent of the Sankei Shinbun newspaper. 3. The Secret History of Industrial Relations after WWII, vol. 1 (Tokyo: Sankei Publishing, 1983), p. 180. 4. Komakichi Matsuoka was born in the Tottori prefecture on 8 April 1888. From 1917 onwards he was active in the labour movement. After the Second World War he joined the Socialist Party, and in 1950 became chairman of the General Council of Japan Trade Unions, and was also elected to the House of Representatives. He died in 1958. 5. 'Apology or No? US And Japan Differ on Daiwa', New York Times, 13 October 1995.

4 Japan's Capital Market

1. Yoshitaka Shikano, Nippon no Ginko to Kinyusoshiki (The Bank and Financial Organisation) (Tokyo: Toyo Keizai Shinpo, 1994). pp. 3-5. 2. Ibid., p. 229. 3. The 75 Year History of the Industrial Bank of Japan (Tokyo: In• dustrial Bank of Japan, 1982), pp. 250-479. 4. 'The principle of punishment and reward works because of mal• practices', Nikkei Sangyo Shinbun, 24 February 1993; 'What Tanii's withdrawal meant', Nippon Keizai Shinbun, 28 February 1993. 5. Kent E. Calder, Strategic Capitalism - Private Business and Pub• lic Purpose in Japanese Industrial Finance (Princeton NJ: Princeton University Press, 1993), p. 142. 6. Mitsubishi Bank merged with Tokyo Bank in April 1996 and is now called Tokyo-Mitsubishi Bank. 7. Minoru Segawa, Watakushi no Shoken Showashi (My memoir of securities history during the time of Show a) (Tokyo: Toyo Keizai Shinpo-sha, 1986), pp. 52-61. 8. The Dodge Line was a policy guideline of SCAP written by Joseph Dodge, it proposed that the Japanese government in 1949 should implement three major policies: (1) The total amount of the fiscal budget should be balanced. What Dodge was aiming at was that Japan's fiscal budget, including general and special accounts, must be balanced Notes and References 301

since deficits of trade and the national railways were sup• ported by a special account, so there was excess money supply in the private sector and the drain of money supply from the special account needed to be closed by balancing the fiscal budget. (2) Bringing governmental subsidies in to the open and reducing them. Dodge hoped that once all items of subsidies were re• vealed and then were gradually reduced, a controlled economy would cease and a free economic system would be introduced in Japan. (3) Prohibiting the issue of reconstruction financial bonds of the reconstruction finance bank and lending money to the private sector. Dodge's purpose here was to decrease the amount of credits being created. 9. Margin trading: securities trading that allows the client to pur• chase or sell short in a margin account and permit a debtor- creditor relationship with the broker. 10. The Financial Research Institute of Bank of Japan, Waga Kuni no Kinyu Seido (The Financial System in Japan) (Tokyo: Nippon Ginko Kinyu Kenkyu-sho, 1995), p. 200. 11. Waido is an interest-bearing bank bond, and interest and princi• pal are paid when the term of the bond expires. The term is five years and the yield is determined when the bond is pur• chased. These bonds are sold by long-term credit banks and fi• nancial institutions that are authorised to issue interest-bearing bonds. Biggu is a loan fund, and all returns and the principal are paid at the end of the term (two or five years). Every six months the returns are reinvested, so that the yield from this fund is higher than standard savings deposits. 12. Total realised compound yield is one of compound yields. When someone calculates a bond's yield at maturity, he takes account of reinvestment of interest of the bond. He considers various investment opportunities, at the same time he projects yield for each investment and calculates compound yield. A compound yield shows yield for one kind security, but this total realized compound yield can calculate various securities' yields. This ap• proach calculating compound yield started to be used by insur• ance companies, trust banks, and pension funds after they experienced a huge exchange loss in 1985. 13. Richard Koo, Yoi Endaka, Warui Endaka (Good High Yen and Bad High Yen) (Tokyo: Toyo Keizai Shinpo, 1994), p. 23. 14. There is a long-standing business custom of pledging collateral when corporate bonds are issued. This custom was established after 1928 during the period of financial panic, since there were many defaults on corporate bonds and many investors made a 302 Notes and References

huge loss. From February 1979 corporate bonds were allowed to be issued without collateral. Most corporate bonds, apart from those of electric power companies, have recently been issued without collateral. See Bank of Japan Financial Institute, Waga kuni no Kinyu Sei do (Japan's Financial System) (Tokyo: BOJ Financial Institute, 1995), pp. 21-2, 477. 15. Companies that meet the conditions of the Employment Insur• ance Law or are specified by the Minister of Labour can re• ceive employment adjustment subsidies that cover half the wages paid to temporarily laid-off workers. In the case of small and medium-sized companies the subsidies cover two thirds of wages. 16. 'Kishimu Nippon teki Kaikei' (The trembling Japanese account• ing system), Nikkei Shinbun, 3 July 1996.

5 Management Benchmarks

1. Otojiro Matsuo (ed.), Wagakuni shokagyo no genzai oyobi shorai - Kigyo shuchu to kokka (The Present and Future of Commerce and Industry in Japan - Concentration Movements and the State) (Tokyo: Ministry of Agriculture and Industry, 1914), p. 2. 2. Makiko Yamada, 'The Emergence of Organized Lobbying', in Keiichiro Nakagawa (ed.), Government and Business (Tokyo: University of Tokyo Press, 1980), p. 173. 3. In October 1992 Jyujo Paper merged with Sanyo Kokusaku Pulp and changed its corporate name to Nippon Paper. 4. Zaibatsu were family-owned groups composed of several key sectors - for example basic industries, foreign trade and bank• ing - under a holding company. 5. Johannes Hirschmeier and Tsunehiko Yui, The Development of Japanese Business 1600-1973 (Boston: Harvard University Press, 1975), pp. 176-7. 6. James Sterngold, 'Elusive Price Cuts Intrigue Japan', New York Times, 9 November 1994, p. D9. 7. Ibid. 8. Yoshinori Akiba, 'Gyoho kaisei no daitenkan ni kakanni idomu "Tokyo Kaijyo Kasai Hoken"', Forbes Japanese edition, December 1996 (Tokyo: Gyosei), p. 123. 9. Ibid., p. 124. 10. Article 10 of the Law Concerning Non-Life Insurance Rating Organisations requires a rating organisation, when it has calcu• lated a premium rate, to notify the Minister of Finance and submit a document containing (1) the pure premium rate, (2) the load• ing rate (3) the method of calculation, and (4) other matters specified by a Minister of Finance ordinance. 11. The first area covers insurance such as an old age and a whole Notes and References 303

life insurance. The second area covers insurance such as motor vehicle, fire and casualty insurance.

6 Scenarios

1. Workers are released from work but are paid 60 per cent of their monthly salary, without bonuses, until retirement age. 2. Ministry of Health and Welfare, Institute for Issues of Demo• graphic Structure in Japan, Nippon no Shorai Jinko (Future De• mographic Structure in Japan) (Tokyo: Ministry of Health and Welfare, March 1987). 3. Sherryl WuDunn, 'When Lifetime Jobs Die Permanently', New York Times, 12 June 1996, p. D8. 4. Sheryl WuDunn, 'Merger To Create New Japan Bank, World's Largest', New York Times, 29 March 1995, p. Al. 5. Nikkei, 11 November 1996, p. 3. 6. 'Build New Materials From What's Lying Around', Business Week, 11 November 1991, pp. 168-70. 7. VLSI is a process technology for putting thousands of micro• electronic circuit elements onto a single chip. 8. The Ministry of International Trade and Industry, the Ministry of Education, the Ministry of Post and Telecommunication, the Ministry of Agriculture, Forestry and Fisheries, Ministry of Health and Welfare, and the Science and Technology Agency. 9. William H. Honan, 'Spared by Washington's Budget Cutting, Research Universities Fear the Ax', New York Times, 16 June 1996, Section B, p. 6. 10. 'Hateshinaki Yenyasu Jidai' no Hajimari' (The Beginning of an Endless Era of the Weak Yen)', Sentaku, October 1996, p. 91. 11. 'Keiretsu Connections', Business Week, 22 July 1996, p. 54. Bibliography

Alletzhauser, Albert J. (1990) The House of Nomura - The Inside Story of The Legendary Japanese Financial Dynasty (New York: Arcade Publishing). Anderson, Anthony (1986) The New Corporate Directors (New York: John Wiley & Sons). Bacon, Jeremy and James Brown (1977) The Board of Directors: Perspectives and Practices in Nine Countries (New York: USA Conference Board). Bank of Japan, Institute for Monetary and Economic Studies (1993) Nippon Kinyu Nenpyou, 1868-1992 (Tokyo: Bank of Japan, Insti• tute for Monetary and Economic Studies). Bank of Japan, Institute for Monetary and Economic Studies (1995) Wagakuni no Kinyu-Seido (Tokyo: Bank of Japan-Institute for Monetary and Economic Studies). Bank of Japan, Research and Statistics Department (1995) Shuyou- Kigyou Keiei Bunseki (Tokyo: Bank of Japan). Bickelhaupt, David L. (1983) General Insurance, 11th edn (Illinois: Richard D. Irwin). Calder, Kent E. (1993) Strategic Capitalism - Private Business and Public Purpose in Japanese Industrial Finance (Princeton, NJ: Princeton University Press). De Mente, Boye (1987) How to do Business with the Japanese - A Complete Guide to Japanese Customs and Business Practices (Illinois: NTC Business Books). Dertouzos, Michael L. et al. (1989) Made in America - Regaining the Product Edge (New York: Harper Perennial). Destler, M., Haruhiro Fukui and Hideo Sato (1979) The Textile Wrangle: Conflict in Japanese-American Relations, 1969-1971 (New York: Cornell University Press). Dougall, Herbert E. and Jack E. Gaumnituz (1980) Capital Markets and Institutions, 4th edn (New Jersey: Prentice-Hall). Economics Department of Nikkeiren (1997) Shu-ki Rou-Shi Koushou no Tebiki (Tokyo: Nikkeiren). Eibun-Horei-Sha Inc. (1995) The Commercial Code and the Audit Special Exceptions Law of Japan (Tokyo: Eibun Horei Sha). Edwin O. Reischauer Center for East Asia Studies (ed.) (1990) The United States and Japan in 1990: A New World Environment - New Questions (Tokyo: Japan Times Ltd). 305 306 Bibliography

Edwin O. Reischauer Center for East Asia Studies (ed.) (1991) The United States and Japan in 1991: Discord or Dialogue? (Tokyo: Japan Times, Ltd). Fuji Xerox Learning Institute (1995) Jinzai Kaihatsu Hakusho - Middle no Ikusei (Tokyo: Fuji Xerox Learning Institute). Gart, Alan (1984) The Insider's Guide to the Financial Service Revol• ution (New York: McGraw-Hill). Halberstam, David (1986) The Reckoning (New York: William Morrows). Hattori, Eizo (1994) Kabushiki-Kaisha Zenyaku, vols I and II (Tokyo: Nippon Hyoron-sha). Ide, Shosuke (1994) Nippon no Kigyou-Kinyu System to Kokusai Kyousou (Tokyo: Toyo Keizai Shinpou-sha). Industrial Bank of Japan, Industrial Research Department (1994) Nihon Sangyou 21-Seiki no Shuyaku: Shin-Sangyou Kouzou no Kouchiku (Tokyo: Nihon Keizai Shinbun). Ito, Motoshige (1995) Nihon no Bukka ha Naze Takai? (Tokyo: NTT Shuppan). Japan Business History Institute (ed.) (1988) (Tokyo: Nippon IBM). Japan Business History Institute (ed.) (1988) (Tokyo: Nippon IBM). Japan Business History Institute (ed.) (1988) Nippon IBM 50-nen Shi (Tokyo: Nippon IBM). Japan Productivity Centre for Socio-Economic Studies (1995) Nihon- gata Keiei Sai-Sekkei no tameni (Tokyo: Japan Productivity Centre for Socio-Economic Studies). Japan Productivity Centre for Socio-Economic Development (1996) International Comparison of Labor Productivity (Tokyo: Japan Pro• ductivity Centre for Socio-Economic Development). Kansai Federation (1986) Kataritsugu 40-Nen Shi: Kansai Douyu-kai (: Kansai Douyu-Kai). (1993) Kao-shi: 100 nen (Tokyo: Kao Corporation). Koo, Richard (1994) Yoi Endaka - Warui Endaka (Tokyo: Toyo Keizai Shinpou-sha). Koo, Richard (1996) Touki no Enyasu - Jitsujyu no Endaka (Tokyo: Toyo Keizai Shinpou-sha). Kousai, Yutaka, and Jyurou Teranishi (eds) (1993) Sengo Nihon no Keizai-Kaikaku: Shijyou to Seifu (Tokyo: University of Tokyo Press). Levinson, Henry and Stuart Rosenthal (1984) CEO - corporate lead• ership in action (New York: Basic Books). Living Science Institute (1982) 80-nendai no Keizai Hatten to Jyosei (Tokyo: Living Science Institute). Louden, J. Keith (1982) The Director - A Professional's Guide to Effective Board Work (New York: AMACOM). Maeda, Hisashi (1990) Kaisha-ho Nyumon (Tokyo: Yuhikaku). Miniru, Segawa (1986) Wtashi no Shoken Showa-shi (Tokyo: Toyo Keizai Shinpou-sha). Bibliography 307

Murata, Akira (1994) The 'Wonder Stones' - Autobiography (Tokyo: Nihon Keizai Shinbun). Nagata, Masami (1956) Keizai Dantai Hatten Shi (Tokyo: Kofuji Shoten). Nakagawa, Keiichiro (ed.) (1980) Government and Business: The Fifth International Conferance on Business History (Tokyo: University of Tokyo Press). Nakajima, Shuzou (1990) Kabushiki no Mochiai to Kigyou-skuchu (Tokyo: Shouji Houmu kenkyu-kai). Nakamura, Takafusa (1994) Showa Keizaishi (Tokyo: Iwanami Shoten). Nakanishi, Takao (1995) The Underwriter: Shihonsijyou Kaikaku no Vision (Tokyo: Kinyu Facsimile Shinbun-sha). NEC Culture Centre (1990) L90' Nendai he Teian-suru Chi-teki Shudan o Mezashite': A Memoir for 20 years of NEC (Tokyo: NEC Culture Centre) Japan. Nenpou-sei Kenkyu-kai (ed.) (1996) Nippon-gata Nenpousei no Sekkei to Unyou (Tokyo: Nikkeiren Kouhou-bu). Nihon Kogyo Ginkou Nen-shi Hensan linkai (Industrial Bank of Japan) (1982) Nihon Kogyou Ginkou 75 nen Shi (Tokyo: Indus• trial Bank of Japan). Nikkei Sangyou Shinbun (1992) Nihon Seizou Gijyutsu: Tsuyosa no Himitsu (Tokyo: Nikkei Science). Nikkeiren 30-nen Shi Editing Office (1981) Nikkeiren 30-nen Shi (Tokyo: Federation of Employers' Associations). Nikkeiren Souritsu 10 Shunen Kinen Jigyou Iin-kai (1958) 10-nen no Ayumi (Tokyo: Japan Federation of Employers' Association). Nikkeiren (1995) Shin-jidai no Nihon-teki KeieV: Chousensubeki Houkou to Sono Gutai-an (Tokyo: Nikkeiren Publishing Depart• ment). Nikkeiren (1997) Bluebird Plan Project: Shin-Nihon-gata Model/Dai- San no Michi Mosaku (Tokyo: Nikkeiren Publishing Department). Nikkeiren-Roudou Mondai linkai (1997) Houkoku - Koyou-Antei to Kokumin Seikatsu no Shitsu-teki Kaizen wo Mezasu Kouzou-Kaikaku, 'Dai-San no Michi' (Tokyo: Nikkeiren Publishing Department). Nisshin Electric Industries (1992) Hito to Gijyutsu no Mirai wo Kizuku: Nisshin Denki 75-nen Shi (Kyoto: Nisshin Electric Industries Co., Ltd). Noda, Iwajiro (ed.) (1992) The Indigenous Patterns and Hotel Okura (Tokyo: Hotel Okura). Noguchi, Yukio (1992) Baburu no Keizaigaku (Tokyo: Nihon Keizai Shinbun). Non-Life Insurance Institute of Japan (1996) Insurance Business Law: Law Concerning Non-Life Insurance Rating Organizations (excerpts) (Tokyo: The Non-Life Insurance Institute of Japan). Reitzel, David J. et al. (1982) Contemporary Business Law - Prin• ciples and Cases, 2nd edn (New York: McGraw Hill). 308 Bibliography

Sakaiya, Taichi (1993) Soshiki no Seisui: Naniga Kigyou no Meiun wo Kimerunoka (Tokyo: PHP Kenkyu-sho). Sakurada, Takeshi (1981) Sakurada Takeshi Ronshu, vols I and II (Tokyo: Nikkeiren Kouhou-bu). Sakurada, Takeshi, and Nobutaka Shikanai (1983) Ima Akasu Sengo Hishi (Tokyo: Sankei Shuppan). Seven-Eleven (1991) Seven-Eleven, Japan: 1973-1991 (Tokyo: Seven- Eleven, Japan). Shikano, Yoshiaki (1994) Nihon no Ginkou to Kinyu Sosiki (Tokyo: Toyo Keizai Shinpou-sha). Shinetsu Chemical Company (1992) ShinEtsu Kagaku Shashi: 1962- 1992, (Tokyo: Shinetsu Chemical Co. Ltd). Shukan Toyo Keizai (1996) Kigyou Keiretsu Souran - 1996 (Tokyo: Toyo Keizai Shinpou-sha). Tachibanaki, Toshiaki, and RENGO-Research Institute for Advance• ment of Living Standards (1997) Who Runs Japanese Business (Cheltenham: Edward Elgar). Takanashi, Akira (ed.) (1994) Kawaru Nippon-gata Koyou (Tokyo: Nihon Keizai Shinbun). Takezawa, Shinichi (1995) Japan Works Ways - 1960-1976-1990 (Tokyo: The Japan Institute of Labour). Tokyo Shoken Torihikisho (ed.) (1995) Tosho Yoran - 1995 (Tokyo: Research Department of the Tokyo Exchange). Vogel, Ezra F. (1979) Japan as Number One (Cambridge, Mass: Harvard University Press). Watanabe, Shigeru (1994) ROE kakumei: Shin-jidai no Kigyou Zaimu Senryaku (Tokyo: Toyo Keizai Shinpou-sha). Yamada, Makiko (1919) America no Professionals (Tokyo: Nikei Keizai Shinbun). Yamada, Makiko (1982) Lobbying: Beikoku Gikai no Power Politics (Tokyo: Nihon Keizai Shinbun). Yamada, Makiko (1985) Jinji-Kanri no Kakushin - Koureika Shakai no Chingin to Shokumu Taikei (Tokyo: Yuhikaku). Yamada, Makiko (1988) America-no Keieisha Gunzo -money game jidaino shousha to haisha (Tokyo: TBS Britanica). Yamada, Makiko (1989) 21 Seiki wo Mezasu Tosotsu-gaku (Tokyo: Wekai Bunka-sha). Yamada, Makiko (1991) Beikoku Yakuhin Sangyou ni okeru Kyousou (Tokyo: Japan Management Association, Management Institute). Yamada, Makiko (1993) Sozousuru Keiei (Tokyo: TBS Britanica). Yamada, Makiko (ed.) (1994) Management-Kotohajime (Tokyo: Yuhikaku). Yamaguchi, Akio (1994) NTT ni Kaketa Yume (Tokyo: Toyo Keizai Shinpou-sha). Yashiro, Masamoto (1992) Nippon no Keiei -America no Keiei (Tokyo: Nihon Keizai Shinbun). Bibliography 309

Yui, Tsunehiko and Hisaaki Hashimoto (eds) (1995) Kakushin no Keieishi (Tokyo: Yuhikaku). Yui, Tsunehiko, and Jonannes Hirschmeier (1975) The Development of Japanese Business: 1600-1973 (Harvard, Mass: Harvard Uni• versity Press). Index

Accelerated depreciation, 19 Assessed income, 61 Accounting, 56 Association of Super-Advanced Acerola, 106-9 Electronics Technologies Age structure (ASET), 277 inverse trapezoid, 88 AT&T, entry to Japanese pyramid-shaped, 88 market, 241-4 Ageing, 87 Audit committee, 51-6 society, 15 Auditing, 54, 56 AIG, 206 Autonomous work group Ajinomoto, 33 system, 83 Alcohol tax, 61 Allest, Frederic d', 217 Baby-boomers, 88, 123, 250 Allied occupation, 4 Bad debts, 14, 53, 61, 176, Allowance, 92 265-8 American International Group, Bandwagon tendency, 12 206 Bank Act of 1943, 130 Annual general meeting, 57 Bank of Hanover, 136 sokaiya, 55-7 Bank of Japan, 4, 10 Annual negotiations, 71 and bond market, 145 Annual salaries, 52 Bank of Nippon Saiken Shinyo, Anti-monopoly, 18 135 Anti-Monopoly Act of 1962, 12 Basic industries, 19 Anti-Monopoly Law, 191-2 Basic pay/salary, 51, 88, 92-3 Applied technologies, 13 Batsu, 12, 105 Arata, Toshio, 231-2 Becker, Gary, S., 79 Arianespace, 217 Big Bang, 264-73 Asahara, Hideo, 107 Blank cheque, 52 Asahi Breweries, 49, 50, 139, Board committees, 50 173 Board of directors, 8, 22, 43, Asahi Chemical Industry, 22, 44, 46, 50, 52, 62, 63, 65 23, 24 Bond Agreement Committee, Asahi Draft, 49 146 Asahi Dry, 49 Bond market, 271-2 Asahi Glass, 142 Bonuses, 51 , 176 Bottom-up decision-making, 8, Asia, 15 43 311 312 Index

Brain drain, 278 Committees Bridgestone Tyre, 21, 35, 234-6 Audit, 54-5 Bubble economy, 1, 5, 87 Compensation, 51-2 Bunshaka, 64 Nominating, 52-3 Bureaucrats, 58, 59 Community Business ethics, 71 groupism, 97 Business education, 109 US corporations and, 52 Company-oriented attitudes, 98 Calder, Kent E., 138 Compensation committee, 51, Canon, 21, 274 52 Carbon fibers, 6 Competence allowance, 93, 94 Career paths, 110 Competition, excessive, 11-13 clerical/general/specialist, 114 global, 100 women's, 114-17 productivity and labour costs, Cartels, 3, 12, 190 89 directory, 192 in salary system, 94 Caterpillar, 289-90 Comprehensive system, 92 Cement, 67 Computer numerical control Central Federation of Societies (CNC), 38 of Commerce and Industry, Concrete ceiling for female Japan, 75 employees, 109 Central Labour Relations Confederation of Electric Board, 73 Power-Related Industry Ceracon, 33 Workers' Unions of Japan, Chairman, role of, 122-4, 52, 63 93 Chambers of Commerce, 19, Confederation of Japanese 196 Automobile Workers' Chief Executive Officer (CEO), Unions, 69 29, 30, 47, 51 Consensus, 65, 103, 104 CILC (Closed Institution Construction industry, 35, 58, Liquidation Committee), 59 144 Consumer service businesses, Clique, see batsu 120 Closed markets, 40 Contract-out workers, 123 Closed society, 99 Convoy system, 129 Clubs, see batsu Cooperation, 19, 78, 103 Cold War, 17 Corporate accounts, Commercial banks, 4 manipulating of, 58 Commercial Code Corporate assets, 10 Article 230-10, 47, 48, 49 Corporate debt, 270-1 Article 265, 62 Corporate governance, 51 Article 272, 62, 63 Corporate identity, 107 Article 270, 43 Corporate information Article 274, 56 disclosure laws, 11, 12, Article 309, 56 180-4 Index 313

Corporate pension funds, 176 Employment Corporate secretaries, 56 middle-aged and older Corporate tax rate, 60, 61, 62 people, 286-8 Cost control, 86 overemployment, 252-3, Cost of living, 30 258-62 Cost-saving innovations, 19 Entertainment expenses, 59 Cross shareholding, 5, 11, 151, Entrepreneurs, 8, 24, 29, 32, 178 35, 37, 40-2 Crystal, Graef, 29-30 post-war, 20, 21 Cultural differences, 97 women, 117 Current profits, 11, 65 Environmental protection groups, 52 Daido Engineering School, 80 Equal Employment Act of Daido Steel, 80, 228 1986, 114, 121, 123 Daiichi Mutual Life Insurance, Equity finance, 172-3 123 Excess liquidity, 170, 185 Daiwa Bank, 56, 97 Excessive competition, 12, 13 Daiwa Securities, see securities Executive committee, 64 companies Executive compensation, 29, 30, 31 Dango, 12 Executive officers, 44, 45, 49, Dankai generation, 88, 126, 250 56, 63 Dargan, Barry, 6 Expense allowances, 29 Decentralisation, 63, 64 Exports, 15, 18-19, 41, 89 DENSAN, 73 Deregulation, 14, 289 Faction, see batsu insurance industry, 202-6 Factor automation, 38 Diet, 12 Fair Trade Commission, 57 Directors, Board of, 45, 56 Fanuc Ltd, 37, 38 directors/executive officers, Federation of Electric 50, 52 Industries Unions of Discrimination, see women Japan, 73 Diversification, 14, 36, 39, 40, Federation of Independent 57, 67, 106 Unions, 18 Dividend, 67 Female human capital, 109-25 Dodge Line, 146 Finance, 38, 56 Duty allowance, 93 Financial institutions, 7, 10, 11, Dyke, Richard V., 96 14 Financial statements, 54 Early retirement, 65 Ford Motors, 263 Education, 26-9, 84, 279-82 Foreign exchange, 61 reform of, 15-16, 281-2 Founders of companies, 32, 73 Efficiency (plant layouts), 89 Fringe benefits, 29, 51, 80 Egalitarianism, 52, 84, 96 Fuji Film, 11 Eizai, 33, 199 Fuji Management Development Elites, 22, 27 Centre, 75 314 Index

Household allowance, 93 Fujii, Yoshihito, 132 Housing loan companies, 185 Fujii, Yoshiro, 7, 82 Human capital, 9 Fujita, Chikao, 35, 36, 37 Human nexus, 103-5, 120 Fujitsu, 38 Human relations, 71 Fukuzawa, Yukichi, 26 Human resources, 8, 10

Game software market, 216 IBM Japan, 11, 40 General Council of Japanese IC (integrated circuit), 7 Trade Unions, 18 Ichimitsu Kogyo, 143 General Electric, 38 Ide, Shousuke, 2 General Motors, 38 Idemitsu Kosan, 21 Global competition, 71, 85, 100 Idemitsu, Sazo, 21 Globalisation, 13, 15, 34, 229 Ieiri, Akira, 234-6 Gososendan hoshiki, 129 Iida, Makoto, 7, 21, 24, 221-2 Government advisory councils, Iketani, Masaharu, 201 75 IMF-JC, 69 Governmental authorities, 75 Impact loans, 136 Green Cross scandal, 200 In-house auditing, 54 Group dynamics, 102, 106 In-house services, 120 Group leader, 102 In-house unions, 18 Groupism, 97 Inaba, Kosaku, 215 Inaba, Seiemon, 37, 38 Hachijyuni Bank, 24 Inamori Kazuo, 7, 11, 21, 24 Hamada, Hiroshi, 189 Incentives, 78 Harmony, 78, 98, 102 Incremental innovation, 8 Hazama, 58 Individual job rights, 82 HCLC (Holding Company Individualism, 16, 97 Liquidation Committee), Industrial associations, 12, 19 143-4 Industrial Bank of Japan (IBJ), HFSP (Human Frontier 53, 63, 128, 135, 187 Science Programme), 238 Industrial and Labour Round Hidden assets, 11, 173-4 Table Conference, 76 Hidden losses, 268-9 Industrial relations, 71 Hierarchical structure, 44 Industrial reorganisation, 19, High technology, 14, 274-7 20, 42 Higuchi, Hirotaro, 49, 50 Industrialisation, 81 Hira-torishimariyaku, 44 Informal groups, 103, 104, 108 Hitachi, 41, 63, 64, 65 Information disclosure act, 50 Hitachi Zosen, 7, 82, 132 Information systems, 259 Holding companies, 246 Institutional investors, 33, 52, Honda Motors, 21 66 Honda, Soichiro, 21 Insurance industry, 4 Honorary chairman, 67 and Bang Bang, 272-3 Honshu Paper, 192 deregulation of, 202-6 Index 315

life insurance, 66, 123 199 Interest groups, 52 Japan Productivity Centre for Interest-bearing financial Social and Economic bonds, 135 Development, 75 Interlinking hierarchy, 103 Japan Securities Holding Intermediate financing, 4, 5, Association, 157 128 Japan Trade Union International Bank of Japan, Confederation, 18, 76, 121 147 Japanese Commercial Code, 44 International markets, 89 Japanese Confederation of International University of Labour, 18 Japan (IUJ), 281-2 Japanese Confederation of Investment in training, 110 Shipbuilding and Invisible leadership, 39 Engineering Unions, 69 Ippiki ohkami, 102 Japanese construction industry, Ishibashi, Shojiro, 21 56 Ishikawa, Rokuro, 32, 35, 56 Japanese Electrical, Electronic Ishikawajima Harima Heavy and Information Industries, 176, 215-16 Union, 69 Ito, C. Corporation, 141 Japanese Federation of Iron Ito, Masatoshi, 21 and Steel Unions, 69 Ito, Sukehiro, 7 Jinmu Keiki, 148 Ito, Yosikazu, 6, 214 Job-based pay system, 91 Ito Yokado, 7, 11, 21, 35, Job category, 91 142 Job classification, 91, 93 Iwato Keiki, 148 Job description, 91, 259-62 Job function, 93, 100 James Capel Pacific, 6 Joint venture, 41 Japan Association of Corporate Jujo Paper, 192 Executives, 75, 198 Jusen financial scandal, 185, Japan Chamber of Commerce 266-8 and Industry, 35, 199 Japan Council of the Kaizaki, Yoishiro, 235 International Metal Kamei, Masao, 39 Workers' Federation-Japan Kamijyo, Aiichi, 73 Council, 69 Kanagawa, Chihiro, 11, 230-1 Japan Federation of Economic Kanai, Tsutomu, 63 Organisations, 75, 198 Kaneda, Kozo, 106-109 Japan Federation of Kao Corporation, 219-21, 259 Employers' Associations, Karoshi, 261 71, 199 Kashima, 32-5, 56 Japan Iron and Steel Kashima, Ume, 34 Federation, 201 Kasuga, Kazuyuki, 152 Japan Pharmaceutical Kawakami, Genichi, 65 Manufacturers Association, Kawakami, Hirosi, 33, 65 316 Index

Kawakami, Tetsuro, 38, 39 165 Kawasaki Kisen, 136 Liberalisation, non-life Keidanren, 75, 198 insurance, 206-7 , 26 Liberalisation, reform of the Keiretsu, 138-42, 225 Foreign Exchange Control Keisha seisan hoshiki, 111 Law, 169 Keizai Doyukai, 198-9 Life insurance industry, see Kennedy shock, 155 insurance industry Kimura, Takashi, 57 Life-long employment, 5, 9, Kirin Brewery Company, 57, 18-19, 44-5, 72-4, 81, 142 87-8, 92, 98-101, 109-10, Kisai Kai, 146 249-52 Kiuchi, Takahashi, 256 Loan Trust Act, 129 Knowledge-intensive Lobbying, 12 technologies, 78, 80 Long-Term Credit Act, 129 Know-how, 74 Long-Term Credit Bank of Kobayashi, Haruo, 24 Japan (LTCB), 135 Kogyo Kurabu, 198 Long-term credit banks, 4, 10 Komatsu, Shin, 87, 225-8 Long-term loans, 49 Koo, Richard, 2, 172 Long working hours, 260-2 Korean War, 17, 18 Kuroneko Yamato Takkyubin, Maeda, Katsunosuke, 7 32 Main banks, 5, 10, 82, 132 Kurosawa, Yo, 63, 187 Male-dominated society, 10 Kyocera, 7, 11, 21, 24 Managerial initiative, see leadership Labour Union Act, 73 Managerial positions, lack of, Labour, 74, 75 250 costs, 65 Managerial skills, 103 disputes, 9, 71, 72, 74 Managers' union, 254 lay-offs, 74, 82 Maruta, Yoshiro, 219 management, 19, 20 Matsuo, Otojiro, 190 market, 8, 9, 18 Matsuoka, Komakichi, 73 negotiations, 285 Matsushita Electric relations, 71 (), 21, 35, 137 unions, 9, 19, 52, 69, 73, 74, Matsushita Electric Work Co. 78, 81, 98 Ltd, 42 Land, 10, 11, 14 Matsushita, Konosuke, 21 Leadership Matsushita, Masaharu, 35 charismatic, 39 , 263 managerial initiative, 86, 87 MCA, 138 philosophy of, 42 Meiji Restoration, 7, 13 Liberalisation, banking and MELCO, 72, 83 securities business, 169 Middle-aged employees, 91 Liberalisation, interest rates, Middle-aged women, 122 Index 317

Miike labour dispute, 71 Law, 185 Minister of International Trade National League of Chambers and Industry (MITI), 191 of Commerce, 196-8 Ministry of Education, 84 National Tax Administration Ministry of Finance, 10, 12 Agency, 59 Ministry of Health and National labour federation, 75 Welfare, 41 National unions, 72 Ministry of Labour, 76, 99 Nemawashi, 104 Minority groups, 53 Nemoto, Jiro, 71, 234, 285 Mitarai, Tsuyosi, 21 New inventions, 86 Mitsubishi Chemical Industries, New materials, 6, 7 142 New technologies, 21 New types of business, 21 Corporation, 72, 83 New York Stock Exchange, 12, Mitsubishi Heavy Industries, 54 69, 87, 118, 142, 289 Nichirei Corporation, 106-9 Mitsubishi Material, 273 Nikkeiren, 71-5, 92, 199, 284-5 Mitsubishi Motors, 142 Nintendo, 7, 11, 24, 33, 216 Miyaoka, Kimio, 232-3 Nippon Kokan K.K., 85 Miyazaki, Kagayaki, 22, 23, 24 Nippon Kyodo Securities, Miyoshi, Toshio, 42 156-7 Mobil Oil, 68 Nippon Life Insurance, 7, 204 Mobile labour market, 257 Nippon Paper, 194 Mochiai Kabunushi, 151 Nippon Reizo, 106-7 Morale, 83 Nippon Steel, 61, 91, 174-5, Morioka, Shigeo, 236-7 176 Mortgage loans, 11 Nishio, Suehiro, 73 Motoyama, Hideo, 57 Nishiyama, Motoaki, 60 Multinationalisation, 15 Nissho, 199 Murata Manufacturing, 11, 33 Nissin Electric, 87, 225-8 Murata Seisakujyo, 34 NKK, 85 Murata, Akira, 34 Nominating committees, 52, 53 Murata, Yasutaka, 11, 33, 34 Nomura, see securities Murofushi, Minoru, 141 companies Mutual assistance system, 99 Non-banks, 5, 185 Non-conformism, 85 Nagano, Takeshi, 273-4, 285 Non-tariff barriers, 41 Naito, Yuji, 32, 199 NSK, 231-2 Nakahara, Nobuyuki, 66, 67, 68 NTT, 241, 244-6 Nakajima, Dotaro, 35 NYK, 232-4 Nakane, Dotaro, 35 Nakane, Chie, 103 Office of US Trade Nakayama, Sohei, 53, 128, Representatives (USTR), 262-3, 282, 284 206 National Land Use Planning Ogura, Masao, 32, 201 318 Index

Oil crises, 87, 161 Production processes, 85, 89 Oji Paper, 192-5 Productivity, 72-5, 81-3, 86-9, Old-boy network, 27 96 Omron, 32 Productivity Centre, 75 On-the-job-training, 122 Professionalism, 35, 79, 256-7 One-man management, 38, 42 Profits, 61 Onishi, Minoru, 11 Protective regulation, 129-30 Optoelectronics, 39 PTA system, 101 Organisational climate, 100 Public auditing, 54 Organisational men, 42 Public works projects, 58 Organisational politics, 22, 104 Purchasing power parity, 288 •* Organised lobbying, 194-200 Outstanding capital, 59 QP corporation, 35, 36, 37 Overemployment, white-collar, Qualifications, 9 258-62 Quality control, 81, 88-7 Overloaning, 128, 132 R&D, 41 Part-time workers, 122 Racketeer, 56 Patron-client relationships, Ratings (Moody's Investor 105-9, 120 Service for banks), 269-70 Pay Rationalisation, 19 by ability, 74, 91 Raw materials, 18, 38 by function, 91, 94 Real estate boom, 184 by job, 94 Rebates, 57 female/male, 121 Reconstruction, 6, 11, 17-20, incentives, 51 71 rises, 69, 70-5, 88, 93-4 Reformed Insurance Business structures, 78, 99 Law, 202 Peers, 38, 106 Rengo, 18, 75 Penicillin, 42 Representing director, 22-4, Pension funds, 176 43-5, 62-4 Personnel, 4, 73, 251-4 Research and development, Pfizer Inc, 40-2, 236 joint effort by government Pharmaceutical industry, 40-2, and corporations, 276-7 236-42 Research institutes, 59 Plan-do-see cycles, 83 Reshaping, 1 Plant democracy, 82 Resolution matters, 47, 48, 49 Plaza Accord, 170 Restructuring, 5, 8, 9, 14, 61, Point of sales (POS), 32 74, 82 Political parties, 59 Retained earnings, 67 Postwar managements, 19 Retirement, 74, 78, 88 President, role of, 1, 22-4, 63, 66 Return on equity, 11, 67 Price-earnings ratio, 11 Return on investment, 11 Priority-production policy, 127 Ricoh, 189, 228 Product quality, 83, 86 Robots, 89 Index 319

ROE, 67 Shan shan sokai, 57 Roshi-kosho, 285 Shareholders, 8, 43, 47, 66 Routine jobs, 121 Shareholding, family, 35 Shareholding, main bank, 137 Saji, Keizo, 21 Shibusawa, Eichi, 196 Sakakibara, Eisuke, Director of Shiina, Takeo, 11, 40, 41 International Finance Shiji karuteru, 192 Bureau at MOF, 3, 97 Shikanai, Nobutaka, 73 Sakurada, Takahide, 123 Shikano, Yoshiaki, 134 Sakurada, Takeshi, 73 , 45, 46, Sammon, William L., 236 56 Sanwa Bank, 82 Shimizu Kensetsu, 35 Science and technology Shin-Etsu Chemical, 11, 230-1 basic science, 14 Shin-Oji, 194 research at universities, Shino, Iwao, 40, 41, 42 280-1 Shinohara, Yoshiko, 118-19 SCLC (Securities Coordinating Shinto, Sadakazu, 72 Liquidation Committee), Shitofumeikin, 58, 59, 61 143 Shopfloor decision-making, 81 SECOM, 7, 21, 24, 221-2 Shudan-shugi, 97, 100 Securities and Exchange Act, Shunto, see Spring dispute 130, 144 Skilled workers, 74, 78-9, 81, Securities and Exchange 84, 89, 98 Commission (SEC), 52 Slush fund, 58-9 Securities companies, rapid Small group movements, 86, 87 growth in 1950s, 151-2 Soft drink business, 107 Big Four, 152 Software, export, 24 Security, 102 Software, game, 24 Self-denial expenses, 58-61 Software industry, 217-19 Sematech, 277 Sogoketteikyu, 92 Semiconductor Leading Edge Sokaiya, 55, 56, 57 Technologies Inc. (Selete), Sole authority, 63 277 Solvency margins, 272 Senior executives, 51, 63 Sophisticated training, 85-7 Seniority, 74, 78, 101-3 Special emergency loans, 158 Seniority-based pay and Special Law on the promotion, 5, 9, 18-19, Reorganisation of Specific 44-5, 71, 73-4, 79, 87, 88, Industries, 193 91-2, 96, 98, 109-10 Specialisation, 79 Separation of financial services, Specialist inspectors, 83 130 Spring dispute, 40, 69, 72-4, 92 Separation of board of director Standard Vacuum Oil and executive officers in Company, 66 US, 47 Standard of living, 92 7-Eleven Japan, 222-4 Standardisation of job 320 Index

categories, 260 241 Stock market, rise of, 149, Temporary staff, 118-19 176 TEPCO, 92, 93, 245 Stock market, control by BQJ Terada, Shinzo, 107 and city banks, 153 Tilton, Mark, 201 Stock market, manipulative, 12 Toa Nenryo Kogyo K.K., 66, Stock options, 51 67, 68 Strategic alliances, 289-90 Togen-sha, 185 Strikes, 71 , Fumikatsu, 220 Structural shakeout, 87 Tokubetu Sangyou Kozo Study groups, 59 Chosei Rinji Shochi Ho, Subcontractors, 58 193 Subordinates, 102 Tokumoto, Teruhito, 69 Sueno Group, 185 Tokyo Electric Power, 92, 93, Sumitomo Electric Industries, 245 38, 39, 40 Tokyo Marine and Fire Sumitomo Electric Works, Insurance, 203-4 226-8 Tokyo Mitsubishi Bank, 180, Sumitomo Holding Company, 265 38 Tokyo Steel, 201 Suntory, 21, 33 Tomita, Kanji, 80 Superior-subordinate relations, Tonen, 66-8 official, 105, 106 Top management, 1-2, 32, 39, Supreme Commander Allied 56 Power (SCAP), 143 Toray Industries, 6, 176, 214 Suzuki, Saburosuke, 33 Torii, Shinichiro, 33 Suzuki, Nobuyuki, 58 , 176 Suzuki, Toshibumi, 7, 11, TOSTEM, 21, 24, 29 222-4 Total quality circles, 86 Toyo Pulp, 192 , 41-2 Motor Corporation, 69, Takaezawa, Shinichi, 2 207-8 Takeda, Haruo, 203 Trade surplus, 89 Takesue, Hisaya, 108 Trade unions, see unions Takeuchi, Fuijio, Governor of Trading companies, 61 Tochigi prefecture, 46 Training Tanabe Seiyaku, 42 general, 79-80 Tanaka, Fumio, 192 programmes, 74, 101 Tanji, Akio, 137 specific, 79 Tateishi, Yoshio, 32 Tsuhuba University, 281 Tax deductions, 19 TTNet (Tokyo Tsushin Teamwork, 78, 101, 102 Network), 245 Teikoku Suisan Tasei, 106 Tejima, Tadashi, 108 Telecommunication industry, Unemployment, 15 Index 321

Uniformity, 84 corporate investment in, 109-25 Union discriminatory personnel company-based, 73 policy, 109, 114-17 enterprise, 73 entrepreneurs, 117-20 in-house, 73 Worker participation, 81 industrial, 72 Unit labour costs, 87, 89 Yamaguchi, Haruo, 244 University of Chicago, 79 Yamaha, 33, 65-6 University of Tokyo, 26, 27 Yamaichi Securities, 157-8 US labour unions, 82 Yamanouchi Pharmaceutical, US market, 19 236-7, 240 US-Soviet confrontation, 17 Yamato Transport, 32, 201 US workers, 94 Yamauchi, Hiroshi, 7, 11, 24, Usioda, Kenjiro, 21, 24, 29 33, 216-17 USTR (Office of US Trade Yen, falling value of, 288-9 Representatives), 206 Yokosuka Shipyard, 98 Yoshino, Teruzo, 45, 46, 56 Vertical society, 103 Yui, Tsunehiko, 2 Vogel, Ezra F., 2 Yukashoken Hokokusho, 180-4 Voluntary associations, 59 Zaibatsu, 4, 17-18, 20, 38, 198 Wages, see pay Zaikai, 19, 198 Women Zenkoku Rengokai, 196-8 concrete ceiling for, 109 Zero defect (ZD) campaigns, 86, 87