Japan Press Weekly

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2017 October 18 - 24 [SOCIAL ISSUES]

Morals and values should matter most to corporate management

Akahata 'current' column

Scandals involving Japan's leading manufacturers have been surfacing one after another: Kobe Steel Ltd. falsified inspection data on many of its products; Nissan Motor Co. had unqualified workers engage in safety inspections of new cars; Mitsubishi Motors Corp. covered up vehicle defects; and Toshiba Corporation committed an accounting fraud.

Japan has long enjoyed fame in the world for its high-quality manufactured goods. Now, however, such a reputation is being undermined amid a series of profit-driven business streamlining and heavy-handed downsizing. While placing strains on small- and mid-sized business owners, large corporations have accumulated more than 400 trillion yen in internal reserves.

Bill Totten, a famous businessperson from California living in Japan, criticizes Abenomics for destroying the Japanese economy. He says, "What matters most in company management is morals and values." Quoting a company founder as saying that enterprises should provide products, services, and jobs which will lead to bringing happiness to people, Totten says that it is necessary for company management to not only pursue profits but also contribute to society.