Japanese Trading Companies - Prof. Herbig, an expert in the field, provides useful information on Japanese trading companies. In this article, we have taken a look at the findings and commentary of the professor in regard to Japanese trading companies. If you want more information on Japanese trading companies, you might want to visit the local book shop or library to find books and other materials on Japanese trading companies.
The World’s largest ETCs, Export Trading Companies are dominated by the Japanese and Korean firms - some of which date from before World War II. In this course we will refer to them by their Japanese name "sogoshosha".
In Japan, the Sogoshosha are associated with corporate groups called Keiretsu.
Prof. Herbig explains: "the keiretsu system is a driving force behind Japan’s industrial success. Japanese keiretsu such as Fuyo, Dai-Ichi Kangyo, Mitsubishi, Mitsui, Sanwa, and Sumitomo generate nearly one-quarter of Japanese business revenues. This system is not simply a superior form of business operations; it is a system that fits Japanese culture....It is the team concept that makes this system part of Japanese corporate culture. While Americans have been complaining that the keiretsu violates U.S. antitrust laws, the fact is that it is rooted in economic cooperation, which lowers transaction costs, and in collaborative research efforts, which expedite development of new technologies.
When an organization gains membership in a keiretsu, both financial and non-financial benefits accrue. These benefits include reduced risk through mutual support and the control of stock voting power, cooperation in marketing and product development, guaranteed markets and sources of supply, ties with a trading company that supplies needed raw material imports and handles export trade, and a bank to supply financial resources. Trading firms also arrange for transportation, insurance, warehousing, and financing."
Prof. Herbig suggest Keiretsu are relevant not just in Japan: "are keiretsu relationships a uniquely Japanese business practice? International keiretsu-style practices have received positive evaluation, particularly in the auto parts industry. For example, the “big Three” U.S. auto makers have begun favoring long-term contracts with selected parts producers instead of short-term agreements they are accustomed to making. Associations of suppliers have been formed to help maintain communications between auto makers and parts producers. European car makers are also following in the United States’ footsteps. This growing tendency for keiretsu-style practices to be adopted internationally indicates that the advantages of this cooperative business style have come to be recognized worldwide and not just in Japan."
THIS ARTICLE SHOULD NOT BE CONSIDERED AS INVESTMENT ADVICE. YOU SHOULD ALWAYS CONSULTANT WITH A CERTIFIED FINANCIAL PLANNER BEFORE MAKING ANY INVESTMENT DECISIONS!
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