Are you learning from your mistakes?

JAPANESE BUSINESS CONCEPT OF THE WEEK

Hansei: Self-reflection
Literal English translation: "introspection" or “self-reflection”

A type of meditation where one reflects on what went wrong, Hansei is all about learning from our mistakes and creating clear plans to ensure that it does not happen again.

How Toyota uses Hansei 🚗:

‍At Toyota, even if a project is completed successfully, there is still a Hansei-kai (reflection meeting) to review what went wrong. According to Toyota’s website, if a manager or engineer claims that there weren’t any problems with the project, they will be reminded that “no problem is a problem”.

This practice forces leaders to objectively and critically evaluate the project and actively look for opportunities for improvement.

Through Hansei, business leaders are reminded to embrace imperfection rather than fear it.

THE HEADLINES
In this week’s edition of U.S.-Japan Weekly:

🎮 Sega Sammy Holdings gets a $55 million windfall

☀️ Mitsui invests $200 million in Texas solar farm project

🖥️ Intel taps 14 Japanese partners to boost country's semiconductor production

NEWS
Mitsui invests $200 million in Texas solar farm project

🇺🇸 HILL COUNTY, TX — Japanese trading multinational Mitsui & Co. has unveiled a plan to invest around $193 million (30 billion Japanese yen) over the next two years to build a solar farm in Texas. The move will capitalize on the increasing demand for renewable energy in a state where wind power dominates other forms of renewable energy.

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NEWS
Sega Sammy Holdings gets a $55 million windfall

🇯🇵 TOKYO, JP — Japanese amusement giant Sega Sammy Holdings, the creators of Sonic the Hedgehog and Angry Birds, recently announced plans to sell Seagaia, its seaside resort complex in Miyazaki, to U.S.-based Fortress Investment Group to shift its focus back to its core businesses: video game development and online casino gaming through its subsidiaries GAN and recently acquired Rovio Entertainment.

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NEWS
Intel taps 14 Japanese partners to boost country's semiconductor production

🇺🇸 SANTA CLARA, CA — American multinational and technology company Intel will partner with 14 Japanese companies to develop technology that will automate their backend chip-making processes, like packaging, according to a report by Nikkei Asia.

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