Practically every globalizing Japanese engineering company has a ‘Way’ thanks to the success of the ‘Toyota Way’ so it’s no surprise that the highly admired, globally acquisitive Nidec has come up with a ‘Nidec Way’ too. It’s being rolled out at the same time that Nidec is reorganising itself globally, setting up 5 regional headquarters including an HQ in the Netherlands for the European region.
The Netherlands was chosen because of its low tax rates and a regional CFO will be appointed, who will be tasked with reinvesting profits made by the local subsidiaries back into the region. All regions will be measured by the same cash conversion cycle standards and the company is also aiming to adopt the IFRS accounting standard by 2017.
The Nidec Way is also presumably going to be a common global standard. It is based on the current corporate philosophy of Passion, Enthusiasm and Tenacity. I haven’t found an English translation yet (which I suspect is proving problematic, as I couldn’t work up a good direct translation, as is so often the case with Japanese corporate values) but here roughly is what it appears to be:
- Passion – 卓越への挑戦 – daring to transcend, taking up the challenge to be preeminent
- Enthusiasm – 顧客満足のために to satisfy customers
- Tenacity – 知的ハードワーキング intellectually hardworking
As well as 「創造性」「敬意」「協働」「王道」 – creativity, respect, collaboration and the virtuous path/just rule (literally ‘the road of the king’).
Leaders are also expected to have the characteristics of 「決断力」「チームスピリット」「人材育成」 – decision making ability, team spirit and human resource development.
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