To the eyes of the former president of the American Chamber of Commerce in Japan, the Japanese business environment has changed over the last several years, thanks in part to an influx of foreign companies and capital.

"Japan is becoming more receptive to foreign direct investment, including acquisitions. The market is operating more freely than before," said Glen S. Fukushima, who completed his two-year term as ACCJ president in December. "It also shows that many foreign companies are optimistic about the future of Japan."

The former ACCJ chief, who heads the Japan operations of Arthur D. Little, Inc., a leading U.S.-based management consulting firm, is also confident that the American companies in Japan have played a role in bringing about that change.