Page 79 - Forbes - USA (March 2020)

SPECIAL ADVERTISING SECTION
JAPAN 2020:
POSITIONED FOR
GROWTH
The country’s corporate lodestars are firmly focused on the horizon in positioning their
companies for continued success.
With the enthronement of a new emperor in Indeed, a focus on the long term and the
May 2019 and the successful hosting of Asia’s ability to adapt to ever-changing conditions
first Rugby World Cup, optimism in Japan have been the hallmarks of leading compa-
has been running high in recent months. nies such as Canon, Kikkoman and THK.
This enthusiasm is expected to carry over Yuzaburo Mogi, Honorary CEO and Chair-
this year, as the country takes center stage man of the Board of Kikkoman Corporation, is
again with the Tokyo Olympic Games, which one who is no stranger to taking bold steps in
is scheduled to take place this summer. the face of uncertainty. He led the traditional
Meanwhile, Japan's government in Decem- soy sauce maker to set up a factory in the
ber raised its economic growth forecast for U.S. back in the early 1970s, a daring move
the next fiscal year to 1.4% on the back of that was decades ahead of its time. Looking
improving domestic demand. ahead, he believes that companies need to
Despite the bright spots, there is no get- look beyond just technology and focus on
ting away from an uncertain macro environ- developing their human capital in order to
ment plagued by trade tensions, a broader succeed.
retreat from globalization and geopolitical Fujio Mitarai, Chairman and CEO of
tensions. For some of Japan’s most success- Canon Inc., is another Japanese corporate
ful corporates, however, the current bout of leader concentrating beyond the immedi-
volatility is just another short-term challenge ate turbulence to position his company for
in their long and successful track record of future growth well into the middle of this
overcoming adversity. century. Canon is in the midst of a major
transformation that aims to foster synergies
in new business areas, even as it continues to
pursue a strategy of mergers and acquisitions.
As for Akihiro Teramachi, CEO and Presi-
dent of THK, the aim is to capitalize on the
megatrends of digital technology, aging pop-
ulations and globalization to fuel the com-
pany’s growth. He likens running a business
to a marathon rather than a sprint, stressing
the need to keep a long-term view in order
to reap efficiencies. In 2020, THK will launch
a new service known as OMNIedge—a solu-
tion to predictive failure detection. It works
by installing sensors on existing THK com-
ponents embedded in client machines that
collect and analyze data and provide alerts.
In an era marked by disruption and
change, it will be companies such as these
that will emerge stronger from the immedi-
ate challenges ahead to prosper for many
more generations to come.
Japan 1