Tag: JAL

Japan’s megabanks lose popularity with Japanese graduate hires

It’s not surprising that Mizuho, one of Japan’s megabanks, has fallen in popularity from the top spot for 2018 new recruits to #17 for those graduates aiming to join in 2019, according to recruitment agency Disco.  As previously blogged, Mizuho’s former president, now chairman, Yasuhiro Sato has been very clear that the bank should lose around 30% of its workforce globally, through greater use of information technology, and yes, AI.  His successor Tatsufumi Sakai shows no signs of reversing this.

The other megabanks have fallen less dramatically out of favour, from #2 to #4 in the case of MUFG (dropping the Tokyo from Bank of Tokyo-Mitsubishi UFJ as of April 1) and from #5 to #14 in the case of Sumitomo Mitsui Banking Corporation.

Japan’s airlines JAL and ANA have stayed in the top 5, at #1 and #3 respectively. Perennial favourites, the trading companies Itochu and Mitsubishi Corp have also gained popularity, up from #7 to #2 and #9 to #6 respectively.

Manufacturers such as Toyota (#5 from #12), Sony (#11 from #31) and Denso (#19 from #33) have become more attractive, as graduates realise that the Internet of Things means traditional companies are now moving into more innovative IT related areas.

Japanese graduates who have studied at foreign universities favour foreign companies operating in Japan such as Procter & Gamble, Google and Amazon, or management consultancies, whereas no foreign owned company is in the top 10 for domestically educated Japanese graduates.

 

 

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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

 

 

 

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