Global strategies of Japan companies: Toshiba, Panasonic, ...

Course Contents: Business in Japan

Summary:

Toshiba
Toshiba, a world leader in high technology, is a diversified manufacturer and marketer of advanced electronic and electrical products, spanning information & communications equipment and systems, Internet-based solutions and services, electronic components and materials, power systems, industrial and social infrastructure systems, and household appliances.
Under the management vision of Innovation-driven, customer-focused growth, the key objective of the Toshiba Group of companies is to provide total utmost satisfaction to customers worldwide through leading-edge products and top-of-the-line services.
Under its mid term business plan for fiscal years 2003 to 2005, Toshiba is working for enhanced recognition as a highly profitable group of companies, active in both high growth and stable growth businesses.
The company has a proud tradition of achievement. In over 127 years of operation, Toshiba has recorded numerous firsts and made many valuable contributions to technology and society. The company is today the world's 8th largest integrated manufacturer of electric and electronic equipment, has over 160,000 employees worldwide, and enjoys annual sales of over US$47 billion on a consolidated basis.
Toshiba is now aiming for enhanced recognition as an excellent global corporation in the 21st century. Towards achieving this, the company is developing the required global management structures and systems, and combining these innovations with a change in awareness that sends a clear message to customers and competitors.

Matsushita Electric / Panasonic
Matsushita Electric (Panasonic) was founded in 1918, when 23-years-old Konosuke Matsushita, the founder started a small workshop with only two employees (his wife and brother-in-law) to make and market an improved attachment plug, which he designed. (Konosuke Matsushita passed away on April 27, 1989 at the age of 94.)
In 1932, Konosuke Matsushita came to recognize the true mission of a business enterprise, and set forth the basic business philosophy in the form of the basic management objective.
The Matsushita group of companies is a most comprehensive worldwide electric and electronic product manufacturer whose products range from electronic components to consumer electronic products, home appliances, factory automation equipment, information and communications equipment, and housing-related products.
In response to new business environments created by the evolution of digital networks, the integration of broadcasting and communications and other recent developments, Matsushita has reclassified its Consumer, Industrial and Components segments into four new segments: AVC Networks, Home Appliances, Industrial Equipment, and Components and Devices.

Mitsubishi Corporation
Mitsubishi Corporation (MC) is Japan's largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, MC employs a multinational workforce of approximately 47,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise.
Although the activities encompass everything from trading to business investment, the essence can best be described as focusing on the needs and seeds of customers and society, conceiving business models, and reliably providing functions and services to propel these businesses forward.
For example, in trade, a historical mainstay of MC's operations, they are able to steadily provide high value-added services by utilizing our frontline businesses to gather information while linking together functions such as logistics, financing, and marketing.
When MC invests in a business, they share risk with they partners and add value to the business by leveraging MC's organizational strength and global networks to procure necessary business resources.

MITSUI CO
Mitsui & Co., Ltd. (Mitsui) provides an unparalleled breadth of products and services of virtually all industries and offers customers a highly diverse range of functions and capabilities. From Sogo Shosha to Full-Service Trade and Industrial Development Enterprise".
The Company has and will continue using these and its emerging strengths to the fullest to assist customers in reaching their business objectives. Moreover, it has a long track record of responding agilely to economic and social trends to create new business opportunities worldwide.
Entering the 21st century, the Company is working to speedily transform itself and is accepting the challenge of creating new added value.
Drawing on its capabilities as a full-service trade and industrial development enterprise, it will continue to respond to the wide spectrum of customer needs.

ITOCHU Corporation
The activities of Japan's general trading companies have achieved unprecedented diversity. A leader among these trading companies, ITOCHU Corporation has seen its own evolution follow the same trend. ITOCHU is a globally integrated corporation with offices in over 80 countries and operations that cover a broad spectrum of industries. Annual revenues place ITOCHU among the world's largest corporations of any type.
In April 1997, ITOCHU introduced a new way of doing business by dividing operations into independently managed "division companies." This was followed in 1999 by the adoption of the position of corporate executive officer to divide more clearly the duties of top management and the Board of Directors.
The "division company" organization facilitates prompt responses to today's borderless, rapidly evolving markets, while leveraging the benefits of ITOCHU's immense scale. Social responsibilities also play a central role in all ITOCHU operations. This is exemplified by the company's acquisition of ISO 14001 certification, an international standard for environmental management systems.

SUMITOMO
Sumitomo Corporation not only conducts commodity transactions in all industries utilizing worldwide networks, but also provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Sumitomo Corporation thus shows great diversification as an Integrated Business Enterprise.
Faced with the increasingly harsh business environment, Sumitomo Corporation continues to meet its customers' expectations by identifying and enhancing its core competence to respond to changes.
Sumitomo Corporation believes its core competence lies in its ability to utilize its "integrated corporate strength."

TOYOTA
Toyota Motor Corporation is the third largest automaker in the world and together with its subsidiaries produces a full range of model offerings from mini-vehicles to large trucks. Global sales of its Toyota and Lexus Brand, combined with those of Daihatsu and Hino, totaled 6.16 million units in the 2002 calendar year.
As of March 2003, besides its own 12 plants and 11 manufacturing subsidiaries and affiliates in Japan, Toyota has 45 manufacturing companies in 26 countries and regions, which produce Lexus- and Toyota-brand vehicles and components, employs 264,096 people worldwide (on a consolidated basis), and markets vehicles in more than 140 countries and regions.
Automotive business, including sales finance, accounts for more than 90% of the company's total sales, which came to a consolidated 16.05 trillion in the fiscal year to March 2003.
Toyota also has a growing portfolio of diversified operations, with ventures in telecommunications, prefabricated housing and leisure boats.
Toyota had a total of 45 overseas manufacturing companies in 26 countries / locations. Toyota markets cars worldwide through its overseas network consisting of more than 160 importers / distributors and numerous dealers.

THE ALLIANCE NISSAN & RENAULT
Signed on March 27, 1999, the Renault-Nissan Alliance is the first of its kind involving a Japanese and a French company, each with its own distinct corporate culture and brand identity. Both companies share a single joint strategy of profitable growth and a community of interests. To promote this shared objective, the Renault-Nissan Alliance set up joint project structures as early as June 1999 covering most of both companies' activities.
To define a common strategy and manage synergies, an Alliance strategic management company, Renault-Nissan bv (=Besloten vennootschap), is a closed limited liability company under Dutch law), was founded on March 28, 2002. Renault-Nissan bv is jointly and equally owned by Renault and Nissan and hosts the Alliance Board, which met for the first time on May 29, 2002, and holds monthly meetings.
The Alliance Board steers the Alliance's medium and long-term strategy and coordinates joint activities on a worldwide scale. Renault and Nissan run their operations under their respective Executive Committees, accountable to their Board of Directors, and remain individually responsible for their day-to-day management.
The Alliance Board:
. is solely responsible for medium- and long-term planning (three-, five- and ten-year plans), joint projects in vehicles and powertrains, and defining the principles of the two partners' economic and financial policies;
. validates Renault's and Nissan's product and powertrains plans;
. has the exclusive right to propose the creation of joint companies to Renault and Nissan, significant changes to market coverage or product offerings, major investments and strategic partnerships with third parties.
In addition, Renault-Nissan bv is the sole shareholder and manager of existing (Renault-Nissan Purchasing Organization - RNPO or Renault-Nissan Information Services - RNIS) and future joint companies. These joint companies sign exclusive service agreements with Renault and Nissan.
Renault holds a 44.4% stake in Nissan, while Nissan owns 15% of Renault shares. Both companies have a direct interest in the results of its partner.

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Master in Asia business

Japanese Companies: Mitsubishi, Mitsui, ITOCHUSU, MITOMO, ALLIANCE NISSAN RENAULT. Toshiba world leader in high technology and electrical products, ...