Lesson 81

Thursday, March 30th, 2023

Today’s Business Japanese is “Dokuritsu Shagai Torishimariyaku (Independent Outside Director)”.

 

It is reported that 72.8% of the 2,191 listed companies in Japan has elected Independent Outside Director whose number is more than one thirds of the total number of directors.

72.8% was increased by 14.1 points since last year and many listed firms have realized better corporate governance in Japan.

 

But, even if Japanese companies increased the number of “Dokuritsu Shagai Torishimariyaku”, there are still a lot of scandals such as Toshiba, Mitsubishi Electric, and Nissan.

And most of the private companies have not introduced “Dokuritsu Shagai Torishimariyaku” because listed firms have not improved their business after introducing them.

 

In addition to it, the number of listed companies who introduced “Shimei Iinkai (Nominating committee)” is 1,452 out of 2,191. which increase from 58.0% to 66.3%.

 

In the past, all directors was promoted from inside of the companies and the next president was nominated by the present president in Japan. Thus, corporate governance in Japan has change a lot, but we still have to watch whether it really works.

Lesson 80

Sunday, March 26th, 2023

Today’s Business Japanese is “Salaryman”.

 

“Salaryman” is Japan made English and foreigners do not understand it.

In English “Office Worker” has the closest meaning, but is not the same meaning.

Because the vocabulary, “Salary man” was created based on Japanese-style Business Management such as “Seniority System” and “Lifetime Employment”.

“Salary man” has the image of selfless devotion at a certain company.

“Salary man” is not selected among many persons and promoted nor is not fired.

They keep on working without speaking out their own opinion and just obey the oreder for entire life in a certain company.

 

Of course, I know a lot of “salary man” who speaks their own opinions and work as themselves.

 

I think that in order for Japan to get out of “the lost 30 years” since bubble economy collapsed Japanese presidents need to change “Life-time employment” and “Seniority System”, first.  By doing so, the way of working and mindset to the job will be surely change.

Lesson 79

Wednesday, March 15th, 2023

Today’s business Japanese is “Oo-Bantou”.

“Oo-Bantou” has been used as a head of employees since Edo-era.

“Oo-Bantou” well knows about “Genba” and runs the company.

Thus, “Oo-Bantou” acted as a right-hand person of the president.

 

Especially, when “Bon-bon” succeed the company from his father the role of “Oo-Bantou” becomes more important.

Since “Bon-bon Shachou” does not know anything about the business “Oo-Bantou” comes to need to make decisions even about strategic issues.

 

I think it is time to re-consider hereditary system both in the business world and political world.

Lesson 78

Thursday, March 9th, 2023

Today’s Business Japanese is “Bon-Bon president”

“Bon-Bon” means “A elite boy who was pampered and spoiled.”

 

“Bon-Bon President” often grow up in a private consistent school from elementary school to a university.

Therefore, they have never studied hard to pass the entrance examination.

They have not made efforts with team members toward a common goal in a sports club, either.

They just play around with a lot of pocket money given by their parents and have not worked at other people’s companies.

They work at parents’ company as a son of the president and succeed father’s firm.

However, because they have not had a hard time before, they can not run the company well and make their own companies go bankrupt.

 

Maybe some of you doubt this, but I know several people around me.

 

However, parents are to be blamed since it is parents’ duty to raise their children independently.

Lesson 77

Friday, March 3rd, 2023

Today’s Business Japanese is “Dangou”.

We often hear this word on TV, but some does not know much about “Dangou”, I think.

 

Originally, “Dangou” was done by Large Genral Construction companies when they get job from country or local governments.

Usually, several large general construction companies decide the rotation who win the bid of public works.

This time Company A win the bid, next time B firm does, next next time C company, and so on.

They also decide the bid amounts of each company in order to create the situation as if there is healthy competitive bidding.

In all cases, sales persons obtain the budget of public work from country or local governments in advance.

And they always win the bid with 99% of the budget amount.  Thus, they are always very profitable.

This is how “Dangou” works.

 

And this time “Dangou” was done at Tokyo Olympic Games by large advertising agencies.

Does “Dangou” happen only in Japan?




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