Let’s talk about work-life balance.

Did you know there’s a Japanese term for ‘dying due to overwork’?
The word is karōshi.

According to a 2023 article by Gordon McLachlan in The Economist, Japan has a culture of glorifying ‘hustle culture’ and even considers working long hours as an admirable quality — at least in the past.

Fortunately, Japan has recognized the negative effects of being overworked and is working hard (pun intended) to change and adapt, according to McLachlan.

Today, big companies in Japan are limiting overtime and some even kick people out of the office in the evening. The Japanese government is even incentivizing procreation with cash payments to encourage its citizens to start a family.

“So whilst excessive working can be powerful in the short term, it’s not sustainable in the long term. At best, it burns out employees and reduces their productivity. At worse, it’s potentially self-destructive on a large scale,” McLachlan wrote.

🔑 The main point: Working hard is important. But taking care of your mental, physical, and emotional health should take precedence. Much like how the Japanese government is adapting and now implementing new measures to promote work-life balance, businesses and senior leaders must also be more proactive in changing workplace culture and expectations.

📰 In this week’s edition of U.S.-Japan Weekly, we’ve got the latest on U.S.-Japan business news:

• Texas-based startup bags $227M in investments from a multinational Japanese drug developer

• Japan’s third-largest life insurance company invests $225 million in a California-based hedge fund.

• Nippon Steel is set to finalize its acquisition of U.S Steel by September 2024
  
  

Texan startup Shattuck Labs bags $227M in investments from Ono Pharmaceutical

🇺🇸 DALLAS, TX — Shattuck Labs, a Dallas-based clinical-stage biotechnology company, has caught the attention of Japanese drug developer Ono Pharmaceutical, which has expressed plans to invest $227 million in the startup.

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Dai-ichi Life invests $255M in Canyon Partners

🇯🇵 TOKYO, JP — Giving its clear vote of confidence in the U.S. credit market, Dai-ichi Life, Japan’s third-largest life insurance company, has announced a plan to invest $255 million in the credit fund managed by Canyon Partners, which oversees a wide variety of assets valued at $24 billion from seven offices across the world

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Nippon Steel's acquisition of U.S Steel to be finalized by September 2024

🇯🇵 TOKYO, JP — The $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel should be completed by the end of September this year, according to a report by Nikkei Asia. The deal will provide Nippon Steel, the fourth-largest in the world, with an additional capacity of 100 million metric tons of global crude steel and boost its production in the United States.

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MORE FROM GMI POST
Bringing down boundaries

📌 In recent years, Japanese schools have recognized the need to welcome more international students. Business issues aside, such as increased enrollment, colleges and universities in Japan know that students will benefit more in an environment that is more inclusive and culturally diverse.

Among those cross-cultural bridges is Temple University Japan.

Today, Temple University Japan has more than 2,000 students enrolled in degree programs both undergraduate and graduate (education, management, and law), and another 2,000-plus in non-degree programs.

📰 READ more about Temple University Japan in GMI POST’s Japan Education Report 2023: Global Groundbreakers, published online and in print via Foreign Affairs Magazine.

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