“A mindset molded by tradition.”

That’s how Harvard Business Review contributor Mattias Fibiger described the Japanese business philosophy.

Having spent the last 15 years working with Japanese companies from all over the world, we at GMI POST find that to be true.

Whether you’re an economic developer trying to attract Japanese investors or the head of your university’s international program trying to attract international students from Japan, it’s important to understand the Japanese business mindset to earn their trust and create long-lasting relationships.

With that in mind, here are two concepts we’ve learned from doing business with Japanese leaders that can help you not only better understand your Japanese audience but also become a better manager.

1️⃣ “Hosoku nagaku”

In Japanese, hosoku nagaku means “thin and long”.
This describes the Japanese’s propensity for sustainable growth.

Japanese business leaders prioritize long-term success.

What does that mean for you?

If you plan on doing business with the Japanese, you have to focus on providing long-term value that meets today’s needs without putting tomorrow’s needs at risk.

Yes, sustainability doesn’t happen overnight by magic.
But remember: Short-term profits are not the end goal if you plan on being around for more than 100 years.

Always look for a balance between new ideas and old ways of doing things.

As Japanese business leaders, their main goal is for their business to last.
Can your product or service help them do that? 😉

2️⃣ “Ryōyorishitsu”

In Japanese, this means quality over quantity.

According to Fibiger, excellence and unwavering commitment to quality are deeply ingrained in the fabric of Japanese businesses.

What does this mean for you?

The solutions you offer must be a complete solution that provides a great experience and support.

Having a full-featured product or service that shows you understand your Japanese audience’s needs will certainly tip the scales in your favor.

Keep those two Japanese business philosophies in mind as you go through the headlines below and see how they were effectively utilized.

Greater Lexington is among top metros for economic development

🇺🇸 LEXINGTON, KY — Kentucky Gov. Andy Beshear has celebrated the Greater Lexington region’s high ranking in Site Selection magazine's annual report on economic development activity. In the report, the region jumped into the Top 10 in both total projects and projects per capita, Tier 2 metros with a population between 200,000 and 1 million.

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Mitsubishi Heavy Industries invests in Texas-based Fervo Energy

🇺🇸 HOUSTON, TX — Japanese giant Mitsubishi Heavy Industries (MHI) has invested in Fervo Energy, a Houston-based startup pioneering enhanced geothermal systems (EGS), in line with its strategy to increase its activities in green energy and its commitment to build a carbon-neutral world.

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Sailing into success: U.S. and Japan strengthen maritime alliance

🇯🇵 TOKYO, JP — U.S. Secretary of Navy Carlos Del Toro embarked on his third official trip to Japan this month to bolster maritime cooperation and shipbuilding capabilities between the two nations.

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MORE FROM GMI POST
U.S. Mountain States Business Report 2023

📌 The Mountain States comprise a region of breathtaking beauty where the splendor of nature is on full display. The region also serves as a prime destination for U.S.-Japan trade with over 450 Japanese companies currently doing business in the Mountain States.

📰 READ more about the thriving U.S.-Japan connection in the Mountain States in GMI POST’s #USMountainStatesBusinessReport2023 published in The Japan Times.

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