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Briefing on Japanese Economy and Business
The 7th Biennial International Business Institute For Community College Faculty
Toshikata Amino
Visiting Professor
Kansai University of International Studies, Japan
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Current Status of Japanese EconomyAssessment of the current state of the Japanese
economy (Japanese Government April 07)The economy is recovering, despite weakness
in industrial production in some sectors.
• Corporate profits are improving and business investment is increasing.
• The employment situation is improving on a broader basis, though some severe aspects remain.
• Private consumption is showing a pickup. • Exports have been flat and industrial
production flattened recently.
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Japanese Government’s Official Economic Report
Two Years Ago (April 05)1 Corporate profit is increasing and
also investment is slowly increasing2 Consumer expenditure is improving3 Unemployment ratio is still a
concern however we see a sign of improvement
4 Export is weak and domestic production is
not increasing
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Trend of GDP
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Bank of Japan predicts
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Unemployment Rate Getting better but still high for
young people
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Still High Numbers of Unemployment for Young People
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Bankruptcies-Decreasing
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In the past strong Yen made Japanese Manufacturers difficult
to export
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Current Weak Japanese Yen $1 = \119
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Export from JapanIncreasing
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Export and Import
To which country and from where
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Long term interestU.S. & Japan
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Consumer Price Index
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Decreasing Population
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Number of New babies and Birth Rate
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Ageing Japan
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Japan is the fastest growing aging country
Life Expectancy
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Increasing National Expenditures for Medical Cost
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National Medical CostComparison
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Some Impacts of “Less Young People and More Elders”
• Beer Consumption
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Car Retention
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College Graduation
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Decreasing Labor Forces
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Foreign Labor Forces
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Many College Graduates Leave Their First Employers Sooner
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Gini coefficientCountry Comparison
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Gini Coeficient wikipedia
• The Gini coefficient is a measure of inequality of a distribution. It is defined as a ratio with values between 0 and 1: the numerator is the area between the Lorenz curve of the distribution and the uniform (perfect) distribution line; the denominator is the area under the uniform distribution line. It was developed by the Italian statistician Corrado Gini and published in his 1912 paper "Variabilità e mutabilità" ("Variability and Mutability"). The Gini index is the Gini coefficient expressed as a percentage, and is equal to the Gini coefficient multiplied by 100. (The Gini coefficient is equal to half of the relative mean difference.)
• The Gini coefficient is often used as an income inequality metric. (See that article for discussion of the social
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Non-formal employeesPart-timers, contracted workers etc
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Inequality of DistributionJapanese viewpoint
1 It is natural 2 It is natural but I dislike 3 It is a problem but not big one 4 It is urgent matter to be fixed 5 Others
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Traditional Japanese Business Practices
• Lifetime employment
• Ranking by seniority
• Company union
How are they changing?
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Lifetime employment How newly hired young Japanese
think?
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Lifetime employment Japanese companies’ viewpint
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How long people work for one company in their life (1993)
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Ranking by seniority or by performance Newly hired employees’ viewpoint
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Company Union
