Sachiko Hirao - The Japan Times

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Sachiko Hirao

For Sachiko Hirao's latest contributions to The Japan Times, see below:

BUSINESS

Sep 7, 2000

Toshiba transforms for IT revolution

Back in the 1960s, a TV set, a refrigerator and a washing machine symbolized affluence for Japanese households. They were dubbed the "three sacred treasures" -- an analogy to the sword, mirror and sacred bead treasured by the Imperial Household.

BUSINESS

Aug 18, 2000

Secondhand comic book firm tapping into American interest in 'manga'

Savoring his success dealing in secondhand comic books and character items in Japan, Masuzo Furukawa, president of Mandarake Inc., is now eyeing an overseas market he believes is thirsting for Japanese "manga" culture.

BUSINESS

Jul 21, 2000

Next-generation TVs set to bring interactive future

Following NTT DoCoMo Inc.'s success in turning cellular phones into gateways to the Internet, Japanese electronics makers are putting their efforts into making TV sets the next doorway to cyberspace.

BUSINESS

Jul 20, 2000

Enron plans power-ful inroad

As business opportunities loom with the deregulation of Japan's mammoth electricity market, Enron Corp. of the United States is preparing to launch comprehensive energy services in the world's second-largest economy.

BUSINESS

Jul 20, 2000

Execs put priority on increasing profile

KARUIZAWA, Nagano Pref. -- As moves continue to consolidate major business organizations, members of the Japan Association of Corporate Executives (Keizai Doyukai) discussed ways to make their organization more prominent during a two-day annual seminar that ended Wednesday.

JAPAN

Jul 3, 2000

Japan looks to cleaner sources of energy

Tokai disaster prompts nation to take a new look at alternative power Staff writer

BUSINESS

Jun 22, 2000

Square Co. plans network service

Square Co., a leading video game software developer, will introduce an electronic entertainment service that will take video game players to cyberspace, where they can communicate with other gamers via an online network, according to the firm's new president.

JAPAN

Jun 9, 2000

Brief campaign period keeps voters out of reach: ACCJ

Japan's election campaign period is too short for candidates to develop policies and make them known to voters, according to Robert F. Grondine, president of the American Chamber of Commerce in Japan and a longtime Japan watcher.

JAPAN

Jun 6, 2000

NPOs key to revitalizing nation, union chief says

Political leaders can mitigate the country's record-high jobless rate and help solve other important national problems by generating citizens' power in the field of grassroots businesses, according to the president of the Japanese Workers' Cooperative Union.

BUSINESS

May 19, 2000

Nikkeiren, Keidanren join drive for greater efficiency

The call for organizational reform that is leading many Japanese companies and even government agencies to struggle to streamline operations is finally reaching the nation's business groups.

BUSINESS

May 5, 2000

Bluetooth wants bite of mobile market

Portable computers' claim to fame is that they allow you to access and send information anytime and anywhere. But what if you leave a cable at home or bring the wrong one on a business trip?

BUSINESS

Mar 27, 2000

KDD set to lead new advance overseas

The three-way merger of KDD Corp., DDI Corp. and IDO Corp. in October will turn the new firm into a competitive mobile phone and Internet business that will enable KDD to shine, KDD President Tadashi Nishimoto says.

BUSINESS

Mar 20, 2000

Competition spurs flurry of mergers

The world's second largest telecommunications market is undergoing a rapid and radical transformation as deregulation, the Internet and mobile phones alter the way that Japanese people work and communicate.

ENVIRONMENT

Mar 18, 2000

Rules said key to easing modified-food fear

MAKUHARI, Chiba Pref. -- As the trade in biotechnology-derived foods increases, consumer concerns over the safety of such foods are growing.

ENVIRONMENT

Mar 18, 2000

GMO foe sees standards as WTO lever

MAKUHARI, Chiba Pref. -- If the international community can set up strict safety standards on genetically modified foods, it would give countries a tool to stop the import of such foods to protect their people, said Jean Halloran, a representative of Consumers International.

BUSINESS

Mar 4, 2000

Updated PlayStation lands in stores

PlayStation2, the advanced version of the world's most popular video game console, goes on sale today amid growing expectations that the new machine will serve as a powerful tool connecting homes to cyberspace in the near future.

JAPAN

Jan 25, 2000

'20s Industry Club faces wrecking ball

The 80-year-old Industry Club of Japan building in Tokyo's Marunouchi district, which has served as a hub for Japan's business circles, will next month undergo reconstruction.

BUSINESS

Jan 4, 2000

Smaller enterprises still need help: Inaba

1999 may prove to have been a pivotal year for small businesses.

JAPAN

Jan 3, 2000

Exec's reckoning: Small firms still need help, Inaba says

Last of three parts Staff writer 1999 may prove to have been a pivotal year for small businesses. Scores of small and medium-size enterprises collapsed amid the prolonged recession, but the severity of the situation attracted public attention to their plight, leading the government to map out a legal framework to help revitalize such firms. Now smaller companies must seize this opportunity to regain their health and transform themselves into the powerhouse of the economy, Kosaku Inaba, chairman of the Japan Chamber of Commerce and Industry, said in a recent interview. "In terms of securing an appropriate environment (to assist small businesses), 1999 saw a certain degree of improvement. 2000 is (the year in which) the stage must be set to breathe life into the (new legal) framework," said Inaba, who is also chairman of Ishikawajima-Harima Heavy Industries Co. Among the country's four major business organizations, JCCI is known for reflecting the voice of small business and representing regional chambers of commerce and industry nationwide. The 75-year-old Inaba also serves as chairman of the Tokyo Chamber of Commerce and Industry. Compared with large-scale companies in Japan, those who manage smaller businesses traditionally must work under stricter conditions, such as having fewer options when trying to raise funds and a difficulty in hiring qualified staffers. The situation stems from the country's pyramid-like structure, which places large companies at the top with small and medium-size enterprises forming the lower layer. Small businesses were particularly hard hit by the recession, because large companies often whittle transactions with smaller firms and demand cost reductions as a way to cut their own costs and adjust their business operations to the shrinking economy. The woes of small companies were further exacerbated with the tightening of credit offered by the nation's banks -- their main source of funding -- as financial institutions reviewed their lending and management practices in view of ongoing financial deregulation and the intensifying competition that ensued. Against such a backdrop, the number of bankruptcies of small enterprises grew sharply, leading to demands from their owners for countermeasures to be taken. Inaba backs measures The government launched an array of measures to assist such businesses, including expanding the existing credit guarantee framework by 20 trillion yen to help money flow to small firms. Inaba lauded these measures, saying they helped ease the difficult conditions surrounding smaller businesses and noted that the number of bankruptcies has decreased substantially. In number, small enterprises "account for the greatest part of the Japanese economy. When that part (of the economy) is stagnant, it is equivalent to having the whole economy in stagnancy," Inaba said. "By all means, (smaller businesses) must regain their health." However, some critics point out that small companies should put corporate information up to public scrutiny if they are to continue to receive government assistance. The firms should also be monitored to see whether their owners properly use the assistance, they add. Inaba admitted that smaller enterprises need to disclose information to investors if they are to lessen their dependence on receiving loans and need to broaden ways in which they raise funds, such as stock issues and bonds offered through private placement. "In Japan, it is said that there is less transparency (regarding company conditions) than in the United States. And small and medium-size companies tend to be a little secretive in that sense. Promoting disclosure is one of the conditions to modernize and rationalize (smaller enterprises)," he acknowledged. Inaba defended JCCI's request to expand the credit guarantee framework by another 10 trillion yen, which was adopted by the government, saying the applicants for the guarantee would be checked more severely on such matters as future profitability and attitude toward maintaining jobs. As his resolution for 2000, Inaba vowed to continue speaking up for smaller firms, which he believes need more steps to stimulate their activities, and to advocate further deregulation. Among possible measures to revitalize small businesses, Inaba cited the necessity to revise the tax system in such areas as the inheritance tax and fixed-assets tax. The ruling coalition has already endorsed such reforms and Diet debate on the issue will begin in the ordinary Diet session to begin later this month. JCCI is urging the government to re-examine the existing tax system based on criticism that the current high inheritance tax is keeping the younger generation from taking over their parents' small businesses. Inaba also stressed that deregulation should be carried further in 2000 since, even though the government has tackled deregulation for over a decade, existing restrictions still impede the development of industry. The ongoing deregulation "is not enough for those who look at (the issue) from outside (Japan). And even from within (Japan), there is a recognition that the speed (of deregulation) is insufficient," Inaba said. Doubts about recovery Meanwhile, Inaba is cautious over prospects for the economy, which finally began showing a glimmer of recovery in 1999, saying it is yet to show solid improvement. "During the latter half of 1999, we felt the economy turning slightly upward due to government measures. But the improvement doesn't seem to be steady. In my mind, the current situation is not one in which the sun has started shining." Among the reasons for the staggering economy are slack private investment, low levels of private consumption due to uncertainty about the future and the steep appreciation of the yen against the dollar, he added. He pointed to the government's 1 percent growth projection for fiscal 2000, which begins April 1, and said the figure indicates the economic upturn will be felt differently among various sectors and that not all industries will have a rosy year. Inaba also expressed his concern over the country's fiscal health after the series of pump-priming measures implemented through expansionary budgets. Last month, the government compiled a roughly 85 trillion yen budget for fiscal 2000 in which 38.4 percent of the general account revenue relies on bond issues. As a result, the accumulated amount of issued bonds is estimated to reach 364 trillion yen at the end of fiscal 2000. "The only thing growing is fiscal spending," Inaba said. "The fiscal 2000 budget is of an unprecedented scale. And much of it is financed by issuing bonds, which is not healthy spending. In other words, we're passing the tab on to future generations." As Japanese companies continue restructuring in an effort to compete in the global market, employment has emerged as an urgent issue to the country and corporate leaders. Although the government estimates that the unemployment rate will drop to 4.5 percent in fiscal 2000 from the 4.7 percent estimated for fiscal 1999, the figure is still high. While Inaba acknowledged that firms must restructure to become leaner, he pointed to the contradiction stemming from the government's requests for the private sector to keep jobs. As a result of restructuring, those who lose jobs need to find work in another industry or company, making labor market fluidity inevitable. However, there are still social and structural impediments for those who change jobs in a country where lifetime employment has been the accepted norm for so long. For example, those who switch jobs generally get less retirement pay than those who work for one company through retirement, Inaba pointed out. In the process of realizing the movement of employment, he said smaller enterprises have a significant role to play. "When it comes to the question of who will absorb the labor, small businesses, once they become healthy and independent (from government assistance), will be able to play a role (in the movement of workers)."

BUSINESS

Jan 3, 2000

Wake-up call for the private sector

As the New Year begins, many corporate leaders and economic experts will be holding their breath to see what the Japanese economy will do -- work its way to a self-sustained recovery, or be pulled along by the steamroller of government spending.

From easily navigable train stations to the helpfulness of its municipal staff, Tokyo has earned high praise for its commitment to accessibility for disabled travelers.

[Rebroadcast] Japan is doing better on accessibility than you may think

Rows of irises resemble a rice field at the Peter Walker-designed Toyota Municipal Museum of Art.

The 'outsiders' creating some of Japan's greenest spaces

By Stephen Mansfield

SUSTAINABLE JAPAN

Live like a lord or lady for a night at Ozu Castle

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