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All Nippon Airways

Home / Posts Tagged "All Nippon Airways"

Tag: All Nippon Airways

Japan’s lost three decades – what are the causes?

The 1990s were called the Lost Decade in Japan, and then as the economy seemed to stagnate in the 2000s, it became the Lost Two Decades.  Now the Nikkei Business in a recent special series seems to be saying it has been a lost three decades.  Turnover and profitability were growing through to around 1990 when the economic bubble burst.  Then profits fell – although since 2010 they have been growing  again.  The total revenues of Japanese companies (excluding financial services) has been static, with only a small bump upwards around 2005-2008.

Nikkei Business says the lack of growth in turnover is the key problem. Even sales overseas, which were meant to be the growth driver, have not shown much of an upward trend.  According to Nikkei Business the root causes of this lack of growth are:

  1. low investment (1991 capital investment as a percentage of cashflow was 133%, compared to 82.2% in 2018)
  2. low wages (106.5 in 1990 indexed against 100 in 2015, down to 99.6 in 2019)
  3. low efficiency (return on assets was 4.3% in 1990, down to 3.8% in 2018)

It cites Panasonic as an example of #1. Every time profits rose, Panasonic increased its investment, but every time profits shrank, it cut investment back, since 2001.  As for #2, Nikkei Business lists all the major restructurings since 1999 with major Japanese companies, which makes for sobering reading for a country famed for lifetime employment:

  • 1999 – Nissan plan to cut 21,000 from its workforce, closing 5 factories
  • 2008 – Sony announced it would reduced its electronics workforce by 16,000
  • 2009 – Panasonic announced it would cut 15,000 people and 27 factories. Pioneer axed 10,000 jobs.
  • 2010 – All Nippon Airways proposed reducing its workforce by 16,000 as part of its revival plan
  • 2011 – Ricoh announced a mid term plan aiming at reducing its workforce by 10,000
  • 2012 – NEC announced a workforce reduction programme of 10,000 job cuts
  • 2013 – Fujitsu announced it that by axing its semi-conductor business, it would remove 5,000 jobs.
  • 2015 – Toshiba announce it would erduce its workforce by 15,0000
  • 2017 – Mizuho Financial Group announced an administrative work reduction programme targetting 19,000 roles.
  • 2019 – Nissan restructuring to impact 12,500 personnel

The low efficiency seems to be in the service sector, where there has been a lack of economies of scale.  The number of Japanese companies with turnover of over  Y100bn/$1bn doubled from around 40 to 80 from 1980 to 1991, but has not risen much since – apart from a blip in 2008 – after the birth of Japan Post, and is still heavily manufacturing oriented.

I will cover the analysis and suggestions from the rest of series for how Japan can “wake up” in my next blog posts.

For more content like this, subscribe to the free Rudlin Consulting Newsletter. 最新の在欧日系企業の状況については無料の月刊Rudlin Consulting ニューズレターにご登録ください。

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Top 20 Japanese companies most supporting women

This is the twelfth year that the Nikkei publishing group have announced their rankings for the best companies in Japan in terms of supporting women.  This year they highlight two retailers – Seven & I Holdings (7- Eleven convenience store chain) and Aeon (supermarket chain strong across Asia), who are ranked 7th and 9th respectively.  Companies are scored on how many women are in management positions, work/life balance, utilisation of women and the balance between males and females in the workforce.

Those people not so familiar with the Japanese corporate landscape may wonder why life insurers score so highly (Sumitomo Life at #2, Daiichi Life at #5, Meiji Yasuda Life at #8, Nissay at #15, Sompo at #19) – but those who have worked in Japan will be familiar with the life insurance sales ladies who used to roam the offices dispensing sweets and namecards.  Other less surprising entries are Shiseido (cosmetics and skincare) at number 1 and All Nippon Airways (#6).

Foreign companies also usually do well – Japan IBM at #3 (although down from #1 last year), Johnson & Johnson, Eli Lilly and HP are all in the top 20.

Other Japanese companies in the top 20 from rather more male dominated industries are Daiwa Securities (#13) and Sony (#17).

For more content like this, subscribe to the free Rudlin Consulting Newsletter. 最新の在欧日系企業の状況については無料の月刊Rudlin Consulting ニューズレターにご登録ください。

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Most popular companies with Japanese graduates

I alway find the rankings published each year by various organisations in Japan of which companies are most favoured by university graduates fascinating reading, giving insights into how the economy and societal trends have impacted the reputation of Japan’s blue chips.

The Nikkei Business magazine has focused on the rankings produced by Rakuten’s social networking site for graduates, the biggest of its type in Japan, this year.

Travel companies seem to have done particularly well this year overall – All Nippon Airways is top of the rankings (up from #2) Japan Travel Bureau at #3 (up from 8) and JAL resurgent after its successful restructuring in at #4 from no rank last year.  Maybe this is due to the high profile activities of these companies in trying to get more tourists to Japan, especially in light of the 2020 Tokyo Olympics.

Advertising agencies are also back in favour – Number 2 is Dentsu, the mammoth advertising agency (up from #3), Hakuhodo is at #6 up from #14 and ADK has risen from 112 to 78.

Banks have lost ground –  Bank of Tokyo-Mitsubishi UFJ has dropped to #5 from #1, Sumitomo Mitsui Banking Corp slipped from #6 to #9 and Mizuho is down to #13 from #9 but insurance companies seem to be popular again – Sompo Japan is up to #65 from 128 and Sumitomo Life also rising from 151 to 68.

Other big fallers are Ajinomoto (down to #23 from #11), Mitsubishi Corporation (down to #26 from #13), P&G Japan (down from 10 to #39, whereas domestic rival Kao has improved from #23 to #11) and Canon (down at 94 from 54, presumably following some disappointing financial results in 2013), Lotte (down to 89 from 56), NTT Docomo (86 down from 52).

Graduates from the top ten universities heavily favoured trading companies (Mitsui, Mitsubishi Corp, Itochu, Marubeni and Sumitomo Corp all in their top 10) and advertising agencies (Dentsu and Hakuhodo)

Reasons for favouring certain companies:

I could become President, have authority to make decisions – trading companies ranked highest

I can become a specialist in a certain field and lead projects – Toyota, Kawasaki Heavy Industries

My seniors recommended it – Tokio Marine Insurance, Yokohama Bank, Bank of Tokyo Mitsubishi UFJ

My parents/teachers recommended it – All Nippon Airways, Japan Rail, Mitsubishi Corp, Bank of Tokyo Mitsubishi UFJ

 

 

 

For more content like this, subscribe to the free Rudlin Consulting Newsletter. 最新の在欧日系企業の状況については無料の月刊Rudlin Consulting ニューズレターにご登録ください。

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Last updated by Pernille Rudlin at 2019-11-27.

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