{"id":5678,"date":"2016-12-20T08:29:50","date_gmt":"2016-12-20T08:29:50","guid":{"rendered":"http:\/\/localhost\/test_manager\/business-tipsdoing-business-in-japan\/"},"modified":"2019-07-10T09:36:21","modified_gmt":"2019-07-10T09:36:21","slug":"business-tipsdoing-business-in-japan","status":"publish","type":"post","link":"https:\/\/managersoffice.net\/el\/business-tipsdoing-business-in-japan\/","title":{"rendered":"Business Tips: Doing Business in Japan"},"content":{"rendered":"

BUSINESS ENVIRONMENT<\/strong><\/span><\/span><\/p>\n

Japan is one of the world\u2019s economic superpowers and its prosperity is based on its efficient\u00a0<\/span><\/span>industries (automobile, information and communication technology and consumer electronics).<\/span><\/span><\/p>\n

Japan has accelerated high-level technology development in the environmental, medical care and\u00a0<\/span><\/span>biotechnology sectors. Japan has also promoted a culture-oriented industry referred to as \u2018Cool\u00a0<\/span><\/span>Japan\u2019.<\/span><\/span><\/p>\n

ECONOMY<\/strong><\/span><\/span><\/p>\n

GROSS DOMESTIC PRODUCT (GDP)<\/strong><\/span><\/span><\/p>\n

In 2014, the nominal GDP was 487.6 trillion yen (USD 4.6 trillion), the third largest in the world after\u00a0<\/span><\/span>United States and China.<\/span><\/span><\/p>\n

RECENT ECONOMIC HISTORY<\/strong><\/span><\/span><\/p>\n

Japan suffered a long-term economic recession during the 1990s after its assets price bubble in the\u00a0<\/span><\/span>late 1980s broke. The government adopted policies to promote exports and Japan’s economy e<\/span><\/span>xperienced a gradual recovery trend from 2003\u20132007, with steady economic growth.<\/span><\/span><\/p>\n

However, the global financial crisis dried up global demand for Japan\u2019s exports and Japan went into\u00a0<\/span><\/span>recession in 2008. Government stimulus spending helped to bring the Japanese economy back on\u00a0<\/span><\/span>track in late 2009 and 2010.<\/span><\/span><\/p>\n

Subsequently, the massive earthquake in March 2011 caused enormous damage in the northeastern\u00a0<\/span><\/span>coastal region and Japan is facing rebuilding struggles.<\/span><\/span><\/p>\n

In order to achieve an early end to deflation and break free of economic stagnation, in January\u00a0<\/span><\/span>2013, the Government of Japan set forth its “three-arrows” strategy (also known as “Abenomics”\u00a0<\/span><\/span>portmanteau of Mr. Abe, Prime Minister of Japan, and Economics). Based on this, economic\u00a0<\/span><\/span>circumstances have turned toward recovery, as exemplified by an exchange rate that shifted\u00a0<\/span><\/span>toward the depreciation of the yen, and significant increases in stock prices. Changes have also\u00a0<\/span><\/span>been observed in the prolonged situation of deflation.\u00a0<\/span><\/span><\/p>\n

MAIN TRADING PARTNERS (2014)<\/strong><\/span><\/span><\/p>\n

Main export destinations<\/em><\/strong><\/span><\/span><\/p>\n

COUNTRIES % OF TOTAL EXPORTS<\/strong><\/span><\/span><\/p>\n