Toshiba crisis shines light on Japan's corporate culture

“These reforms will not work until the mindset about the labour system changes in Japanese companies.”

Which will happen when? The senpai-kohai mentality is ingrained from one's formative years. Corporate Japan will never change as long as the education system in Japan doesnt change either.

The rest is all talk, talk, talk, talk....

Toshiba crisis shines light on Japan's culture would be a more accurate headline.

It's not just corporate culture though is it, it runs right down from government through to schooling.

word of the day for Japanese readers interested to learn "good" English: bourse

From MW: a European stock exchange

From other dictionaries: A stock exchange, especially one in a continental European city. a stock market, especially one in Europe, not including the UK

Japanese firms are peppered with former bureaucrats given plum jobs in the industries that they once oversaw, despite many having few relevant skills or the incentive to question management.

Absolutely. Beaurocrats in general tend to be a dull, listless mob, capable of doing very little but pad there own nest of mediocrity , but the particular brand you get over here take it to the next level. You wouldn't believe it unless you saw it with your own eyes. As we say in Australia, couldn't organize a pissup in a brewery.They would first try to put it off until next quarter ( after all, why do anything in such haste? ) then have ten meetings to decide who would do the kampai speech, of which no one would volunteer.

There are so many problems with corporate culture in Japan, this is just the beginning. Hope this leads to some changes, but like the many scandals up until now, nothing much will change, will it?

Those involved in cover-ups also know that if they get restructured they will probably never get another job at anywhere near the same level of earnings, and have fake bonuses that depend on company profits. They are protecting their own jobs and incomes every bit as much as they are protecting their companies.

Lock em up for fraud. It's the only way.

Inability to adapt to changes in global business environment, inability to take quick decisions, herd mentality, lack of proper leadership, aging and dying population, gender bias and the list goes on and on and on.

Toshiba was deceived and dumped a troubled US company by US.

tinawatanabe: "Toshiba was deceived and dumped a troubled US company by US."

Yes, tina, we know... it's always America's fault when a Japanese company goes under. I mean, the US FORCED them -- and Takata at the same time! -- to fudge the numbers on data in 2008 and then lie about it for 7 years, right? And hey, lest we forget the US also forced Olympus and Mitsubishi (also mentioned in the article) to do the same! It's all the US' fault Corporate Japan is finally seeing the chickens come home to roost. It's certainly not Japan's fault!

Due Dilligence was lacking? Or was it Accounting Innovation?

I just love how they capture the "Leading innovation" slogan in the picture. They sure are leading, but not innovation! I don't know how they can honestly keep that slogan up there without being utterly humiliated.

"But at the length truth will out." Despite lies, prevarications and whitewashing. Just takes such a long time. And the tiny wannabes will never admit it.

Japanese companies in general don't put much resources in Research & Development. If their products or services keep up with the times and have demand, then letting go of employees could be minimal. I highly doubt Japanese top executives and managers make anything close to American counterparts in pay. If they can't unload Westinghouse, hope they can at least use it's R & D to turn around the situation into positive. Good luck.

smithinjapan

I just love how they capture the "Leading innovation" slogan in the picture.

But they are, the absolute leading edge of creative accounting and obfuscation!

Japanese firms are peppered with former bureaucrats given plum jobs in the industries that they once oversaw, despite many having few relevant skills or the incentive to question management.

There you go.