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Japanese businesses are managed as if they are looking in the rearview mirror.

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Tadashi Yanai, Japan’s richest man and the founder of $73 billion apparel empire Uniqlo. He says Japan’s economy is teetering on a precipice because of an unhealthy obsession with manufacturing, workers conditioned to corporate bloat, and a budget financed by soaring debt rather than tax receipts.

© Time magazine

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they are looking in the rearview mirror.

That's still better, many of them don't look at any windows or mirrors at all. However they're expecting

better result from time to time.

-6 ( +2 / -8 )

The full article containing the quote can be read in

Uniqlo Founder Tadashi Yanai Wants to Stir Japan's Economy | Time Magazine

He is the current Time Magazine cover story.

A very interesting article that doesn't shine a positive light on the state of affairs in Japan Inc.

The story has not been heavily covered by media here.

4 ( +4 / -0 )

When I've said similar things, I was told that I don't understand Japanese culture.

1 ( +2 / -1 )

Uniqlo have offshored manufacturing. It should be obvious that their boss is not going to speak up for monozukuri (manufacturing) because his is not in Japan. Uniqlo stores have automated tills, so they've also done away with even more workers.

I do not see (increasingly online) retail of stuff made in Bangladesh or Vietnam as a bright future for Japan.

a budget financed by soaring debt rather than tax receipts.

Who is he suggesting Japan taxes? Are Japanese willing to pay more tax? There is massive opposition to freelancers and small businesses paying consumption tax under the new invoice system.

1 ( +1 / -0 )

Still the best run economy in the APAC region with a lot of diversified industry. I have no doubt that manufacturing is essential to a high standard of living.

1 ( +1 / -0 )

unhealthy obsession with manufacturing

He's suggesting that companies should outsource their manufacturing to Xinjiang - the home of the Uyghur people - like his company. When everyone does it, no one can be blamed for slavery.

0 ( +1 / -1 )

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