Japanese firms need to change their strategy in emerging markets and know more about the consumers in those countries that serve as the new engines of global growth, scholars and business experts told a recent symposium in Tokyo.
Despite their continuing lead in technological innovations, Japanese companies are losing out to South Korean rivals in a growing number of sectors as they fail to grasp the diversifying consumer needs worldwide, they said.
The experts were speaking at the symposium organized April 12 by the Keizai Koho Center under the theme "Competitiveness of Asian Companies — Conditions for Being Successful in the Global Market."