* * * * * * * * * T E R R I E 'S T A K E * * * * * * *<br>A weekly roundup of news & information from Terrie Lloyd.<br>(<a href="http://www.terrie.com">http://www.terrie.com</a>)<br><br>General Edition Sunday, October 14, 2012, Issue No. 682<br>
<br>+++ INDEX<br><br>- What's New -- Entrepreneur Awards and Mentoring<br>- News -- New superconducting motor for EVs<br>- Upcoming Events<br>- Corrections/Feedback -- Bicycle parking<br>- Travel Picks -- Oyasu, Akita, and Happo-en, Tokyo<br>
- Japan Business Q&A -- Godo vs. Kabushiki Kaisha<br>- News Credits<br><br>SUBSCRIBE to, UNSUBSCRIBE from Terrie's Take at:<br><a href="http://mailman.japaninc.com/mailman/listinfo/terrie">http://mailman.japaninc.com/mailman/listinfo/terrie</a><br>
<br>BACK ISSUES<br><a href="http://www.japaninc.com/terries_take">http://www.japaninc.com/terries_take</a>, or,<br><a href="http://mailman.japaninc.com/pipermail/terrie/">http://mailman.japaninc.com/pipermail/terrie/</a><br>
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<br>PBXL Managed Cisco Voice--because PBXL is Business <br>Communications<br>-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-<br><br>+++ WHAT'S NEW<br><br>There seems to be very little public statistical research <br>
about Japanese entrepreneurs, so we were surprised <br>and happy to come across a Stanford University <br>paper, which offers some fascinating facts and figures <br>about the make up of the Japanese entrepreneurial <br>community. For example, did you know that:<br>
* The average age of a Japanese entrepreneur is around 40 <br>years old.<br>* Only about 4% of new companies started since 1998 are <br>headed by women, although that number is rising.<br>* The university that turns out the the most Japanese <br>
CEO/founders of new companies is Waseda University.<br>* The second most common alma mater for new company <br>CEO/founders is not a Japanese university at all, but <br>universities (a bunch of them) abroad.<br>* Japanese start-ups are resilient, and are 35% more likely<br>
to survive after being in business 5 years than are US <br>high-tech start-ups<br><br>All good stuff that we didn't know either, until we <br>stumbled across the Stanford study by Robert Eberhart and <br>Michael Gucwa. Although it is slightly dated, having been <br>
published in 2009, given that the Lehman Shock didn't <br>impact Japanese companies to the same degree it did <br>elsewhere (although it has been almost solely responsible <br>for the persistently high yen as the US devalues its <br>
currency), we expect that the results would be similar even<br>today in 2012. You can see the study, entitled <br>"Entrepreneurship in Japan: A Data Report", <br>at <a href="http://bit.ly/W3ugtu">http://bit.ly/W3ugtu</a>.<br>
<br>The picture that the Eberhart/Gucwa report paints is one <br>where Japanese start-ups are highly focused on sectors that<br>have low hurdles to entry, such as importing and <br>wholesaling products, offering business services, and <br>
creating software. Those companies that get past the <br>start-up phase are more likely to grow faster and be more <br>profitable that is normal for their sector, and <br>importantly, they become major employers. Needless to say, <br>
they are notable for their innovation, ability to adapt to <br>sectoral change, and are particularly good at taking <br>advantage of regulatory change (echos of "Poor Dad, Rich <br>Dad"). It's not hard to think of examples, such as Rakuten,<br>
DeNA, Gree, Cyberagent, and many others. <br><br>What is interesting about successful Japanese start-ups is <br>the foreign connection, be it education, money, technology,<br>business deals, or all four. We suppose that Softbank's <br>
Masayoshi Son epitomizes the foreign connection, through <br>his having been educated partly in the USA; building his <br>first major business, that of selling software, by working <br>with foreign software publishers; then lending money from <br>
Vodafone and foreign banks to do the gigantic Vodafone <br>Japan takeover, and now his possible push into the US <br>market through a takeover of Sprint's business. Other<br>examples include Rakuten's Mikitani, Monex's Matsumoto, and<br>
Globis' Hori, who have all done well through their foreign <br>connections and who are now leaders in their respective <br>sectors.<br><br>[Continued below...]<br><br><br>---------------- Bilingual Web Marketing ----------------<br>
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-----------------------------------------------------------<br><br><br>[...Article continues]<br><br>Thus when we learned in 2010 of a new initiative uniting a <br>number of foreign-led programs nurturing entrepreneurship <br>
in Japan, we got quite interested. The initiative is <br>called The Entrepreneur Awards Japan & the Entrepreneur <br>Mentoring Initiative (TEAJ-EMI) and is chaired by Patricia <br>Bader-Johnston and vice-chair Thomas R. Shockley. It <br>
is supported by the ACCJ, BCCJ, British Council, JMEC, MIT <br>Enterprise Forum Japan, GEW and E&Y (as the secretariat) <br>-- so they have some pretty decent credentials. <br><br>Starting with the TEAJ part of the initiative, the <br>
highlight has to be the involvement of US Ambassador John <br>V. Roos who hosts the awards at his residence and who has<br>also established a special US Ambassador’s Award to provide<br>support to the contestants through embassy events and <br>
networks. Apparently Ambassador Roos has lots of hands-on <br>experience in start-ups, and his advice has included tips <br>on how to network back in Silicon Valley and how to go <br>about fund-raising. Certainly his involvement has given the<br>
TEAJ credibility, helping them to attract such high-profile<br>judges and mentors as Taizo Son (Masayoshi's younger <br>brother), Mixi founder Eto Batara, and serial entrepreneur <br>William Saito. <br><br>But it's not just the luminaries that are involved, TEAJ <br>
has attracted some bed rock members of the local investment<br>community as well. For example, the selection committee chair <br>is none other than Tokyo-based seed investor Jeff Char, who<br>was quoted after the 2010 program as saying, "Feedback <br>
[Ed: through TEAJ] is a kind of tough love that helps <br>entrepreneurs focus on what will really make them <br>successful.” We imagine that Jeff was thinking about how <br>Japanese kids are schooled, and that "tough love" is not <br>
something they have a problem with. :-) <br><br>A recent Ambassador's Award winner under the TEAJ program <br>was Reina Otsuka of Eco+Waza (<a href="http://greenjapan.com/">http://greenjapan.com/</a>), a <br>company which scours Japan for cool environmentally <br>
friendly products and sells them online, in both English <br>and Japanese. Check out the website, it's a good idea and <br>we can imagine that the company will become well-known to <br>Japanese crafts connoisseurs over the next year or so. <br>
Eco+Waza was started in 2006 and is still small -- in <br>fact, this seems to be Otsuka's strategy, since she <br>appears to want to concentrate on the unique and premium <br>side of Japan rather than building massive inventory and <br>
having the lowest prices. This is a very viable business <br>model for the Internet -- consulting and research -- and <br>one which should help her meet her stated goal of becoming <br>a primary research center for Japanese and Asian <br>
traditional craft goods over the next five years.<br><br>The second part of the TEAJ-EMI initiative is the EMI, or <br>mentoring, part. This was started in 2010 with the <br>intention of giving motivated but new entrepreneurs a way <br>
of sounding out ideas and figuring out the risks before <br>being overwhelmed by them. The key is of course to solicit <br>mentors who are willing to give the time and input to <br>people they may never otherwise derive benefit from. <br>
Usually this kind of interaction is hard to get done in <br>Japan, and so is frequently left to retired business <br>people and an NPO with the right connections. But <br>this means that the mentors are not necessarily <br>
entrepreneurs, the structure is less mentoring than a <br>teacher-student relationship, the opportunity for <br>investment is small, and the information and introductions <br>are often out of date. <br><br>In contrast, EMI has been able to recruit some proven local<br>
foreign entrepreneurs who are willing to share time, <br>insights, and occasionally investment. Amongst the line-up <br>of familiar faces include Brian Nelson, most recently CEO <br>of ValueCommerce in Japan and Catherine Porter, the head of<br>
LinkedIn Tokyo. Among those who have been mentored, you can<br>include Nhat Vuong of the NPO “Ikufu”; Tsuneyuki Fujioka of<br>FUNFAM, whose company manufactures and sells bamboo eating <br>utensils and which are now becoming famous in Europe and <br>
the USA; and Carl Sundberg of Smart Technology Partners. <br><br>We particularly like Carl's story, which we have mentioned <br>briefly in previous Takes. His STP company is converting <br>underutilized rural municipal buildings across Japan into <br>
distributed cloud computing data centers. Carl opened his <br>first prototype data center in an abandoned school in rural<br>Fukushima in February 2011. Then, barely 3 weeks after <br>opening, the Tohoku earthquake brought STP refugees who <br>
after being housed started helping out in the data center. <br>This unique confluence of events coupled with Carl's <br>entrepreneurship has attracted local and national attention<br>and provides Tohoku with an alternative to that of simply <br>
rebuilding everything which was swept away. Carl loves the <br>start-up process and as a result, STP is now also helping <br>to incubate other start-ups from the hinterlands of <br>Fukushima, passing on the advice and know how that it <br>
received during its own early phase.<br><br>The competition for this year’s EMI Awards opened on <br>September 21 and the application deadline is October 26. If<br>you think you have what it takes to be an entrepreneur, you<br>
should submit the application downloadable from their site.<br>Four awards will be offered this year: The U.S. Ambassadors<br>Award, through which the winner will be taken under the wing<br>of the US embassy and who will be invited to all innovation<br>
and entrepreneur focused events for the next year; the <br>Groundbreaker Award (this year sponsored by DELL), whose <br>winner will travel outside Japan to attend the Dell Women’s<br>Entrepreneur Network event (location still to be announced,<br>
but in past years held in Rio de Janeiro and New Delhi); <br>the Venture Generation Award, will include a range of <br>mentoring activities and business support; and the ACCJ <br>Director’s Award, which will offer special access to <br>
selected American Chamber events throughout the year and <br>our very own Entrepreneur Handbook seminar. Each awardee <br>will be assigned a mentor from the Tokyo business community<br>and lifetime membership to the EMI Alumni Network. <br>
<br>Details can be found on the EMI website at <br><a href="http://www.TEAJ-EMI.org">http://www.TEAJ-EMI.org</a>.<br><br><br>...The information janitors/<br><br>***------------------------****-------------------------***<br>
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Membership Guide & Program Rules (<a href="http://bit.ly/PL4djl">http://bit.ly/PL4djl</a>).<br>-----------------------------------------------------------<br><br>+++ NEWS<br><br>- US security ties give Japan confidence<br>
- New superconducting motor for EVs<br>- Falling Chinese tourism from September<br>- Justice Minister mates with Yakuza<br>- Polymer factory explosion to cause diaper shortage<br><br><br><br>=> US security ties give Japan confidence<br>
<br>Interesting to see the Japanese ambassador to Washington <br>publicly stating at a presentation to the Brookings <br>Institute that since Japan's security treaty with the USA<br>covers the Senkaku's that he thinks it, "...constitutes an <br>
important deterrent." The ambassador apparently continued<br>at some length to downplay the seriousness of the spat, <br>saying that Japan is not going to get emotional about the <br>Senkaku issue and that it is not expecting a full-blown <br>
conflict to arise because of it. ***Ed: Still, "just in <br>case" it's nice to have the USA on your side, right Mr. <br>Ambassador?** (Source: TT commentary from <br><a href="http://japantimes.co.jp">japantimes.co.jp</a>, Oct 13, 2012)<br>
<br><a href="http://www.japantimes.co.jp/text/nn20121013a7.html">http://www.japantimes.co.jp/text/nn20121013a7.html</a><br><br>=> New superconducting motor for EVs<br><br>Exciting new development from Sumitomo Electric. The <br>
company says that it is developing a superconducting motor <br>for electric cars, and will have a prototype ready early <br>next year. The company reckons that a superconducting motor<br>will reduce electric vehicle power consumption by <br>
20%-30%. They keep the motor cooled by sealing it in liquid<br>nitrogen, and by using high-temperature [Ed: Most likely <br>iron-based] superconductors. ***Ed: It will be interesting<br>to see how the liquid nitrogen tank holds up in a traffic<br>
crash... you wouldn't want to be near it when it springs a<br>leak that's for sure.** (Source: TT commentary from <br><a href="http://e.nikkei.com">e.nikkei.com</a>, Oct 13, 2012)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20121012D1210A19.htm?GID=52">http://e.nikkei.com/e/ac/tnks/Nni20121012D1210A19.htm?GID=52</a><br>
<br>=> Falling Chinese tourism from September<br><br>An interesting factoid from a recent nikkei article on the <br>tumble in Chinese tourists coming to Japan is that UnionPay<br>bank card company gets about JPY10bn in Chinese tourist <br>
transactions per month. That's a pretty good chunk of <br>change for a bunch of tourists, and an obvious reason why <br>the government is working so hard to bring more Chinese in.<br>Unfortunately the Senkakus spat is more serious than first<br>
hoped, and ANA has taken 28,000 seat cancellations for <br>flights departing China, for the period September through <br>December. ***Ed: No other data in as of yet, but it can't <br>be good.** (Source: TT commentary from <a href="http://e.nikkei.com">e.nikkei.com</a>, Oct <br>
13, 2012)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20121012D1210A17.htm">http://e.nikkei.com/e/ac/tnks/Nni20121012D1210A17.htm</a><br><br>=> Justice Minister mates with Yakuza<br><br>You really have to wonder about the IQ of Japanese <br>
politicians... It has now emerged that PM Noda's new <br>Justice Minister, Keishu Tanaka, is in fact old mates with <br>a Yakuza gang member, after a tabloid magazine published <br>the fact he'd been a guest at his friend's wedding 30 years<br>
ago. The new minister insists that it was long ago and that <br>he has not associated with any Yakuza member since. ***Ed: <br>This is the second "irregularity by Tanaka in just 10 days, <br>so we see him having to resign over this gaffe -- especially <br>
with an election coming up.** (Source: TT commentary from <br>afp at <a href="http://google.com">google.com</a>, Oct 12, 2012)<br><br><a href="http://bit.ly/TnBcLw">http://bit.ly/TnBcLw</a><br><br>=> Polymer factory explosion to cause diaper shortage<br>
<br>A serious explosion at the Himeji acrylic acid factory of <br>Nippon Shokubai may cause a global diaper shortage for <br>babies and the elderly. The factory was one of the largest <br>producers of the super absorbent polymer that is a key <br>
component of diapers, supplying about 460,000 tons, or <br>20% of the world market. The company has said that it will <br>start sourcing the polymer from other producers, but <br>speculation is that it won't be enough to cover growing <br>
demand. Nippon Shokubai was in particular one of the <br>leading suppliers of the polymer to Proctor and Gamble for <br>Pampers diapers sold in Asia. (Source: TT commentary from <br><a href="http://abcnews.com">abcnews.com</a>, Oct 1, 2012)<br>
<br><a href="http://abcn.ws/OZXDv6">http://abcn.ws/OZXDv6</a><br><br><br>NOTE: Broken links<br>Many online news sources remove their articles after just a<br>few days of posting them, thus breaking our links -- we<br>apologize for the inconvenience.<br>
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<br>+++ CANDIDATE ROUND UP/VACANCIES<br><br>=> BiOS, a Division of the LINC Media group, is actively<br>marketing the following positions for customers setting up<br>or expanding in Japan, as well as other employers of<br>
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for other jobs: <a href="http://www.biosjp.com/positions.php">http://www.biosjp.com/positions.php</a><br>-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br>
<br>+++ UPCOMING EVENTS/ANNOUNCEMENTS<br><br>No events this week.<br><br>***------------------------****-------------------------***<br><br>+++ CORRECTIONS/FEEDBACK<br><br>In this section we run comments and corrections submitted<br>
by readers. We encourage you to spot our mistakes and<br>amplify our points, by email, to <a href="mailto:editors@terrie.com">editors@terrie.com</a>.<br><br>=> In response to our piece on bicycles versus cars in <br>Tokyo in TT681, a reader tells us of his frustrations in<br>
finding places to park even one small bicycle.<br><br>*** Reader says:<br><br>I couldn't agree more with your view on the recent bicycle <br>parking rules. Aoyama Dori is clogged with construction <br>vehicles yet we are not allowed to park our bikes there. It<br>
annoys me no end :). I took a photo one day when I was <br>asked to move my solitary bike parked very carefully on the <br>side of an extra-wide sidewalk, due to it being 'in the <br>way'. I reluctantly moved it, all the while there was a guy <br>
with a monster truck illegally parked on the other side of<br>the guard rail, who was having a nice afternoon snooze <br>while blocking the flow of traffic in the inside lane of <br>246. I notice the construction guys didn't ask him to <br>
move...!<br><br>***------------------------****-------------------------***<br><br>+++ TRAVEL DESTINATIONS PICKS<br><br>=> Oyasu Ravine, Akita<br>Where the Earth Comes Alive Through Steam and Heat<br><br>There are countless hot springs in Japan, but have you ever<br>
seen a hot river? At the bottom on Oyasu Ravine, down 200 <br>stairs (which means you’re going up later!) is a beautiful <br>scene. A crystal clear river cuts through the hard rocks. <br>Trees sprout out of the craggy cliff, providing a shady <br>
heaven. Small waterfalls complete the serenity. Then you <br>see fog in the distance. <br><br>It’s not fog though, it’s steam. Water is superheated and <br>creates a cloud of steam rising from its surface. Walk <br>along the concrete path, turn the corner, and a wall of <br>
mist stops you. The path you must take is sandwiched <br>between a heated river and cracked rocks that are shooting <br>steam. The only way to get through is take a deep breath <br>and power walk through the wall of mist. I would suggest <br>
running, but the steam cloud is so thick -- though just for<br>a second or two in the middle -- that I almost hit someone <br>in my dash to freedom. After exiting the ravine, there are <br>several other must-do's while visiting the Oyasu onsen <br>
region... <br><br><a href="http://japantourist.jp/view/oyasu-ravine">http://japantourist.jp/view/oyasu-ravine</a><br><br> <br>=> Happo-En Garden, Shirokanedai<br>A blissful green oasis in the middle of Tokyo<br>[Photo Essay]<br>
<br>Just ten minutes` walk from Meguro Station on the JR line, <br>Happo-En is one of Tokyo`s most pleasant traditional <br>gardens. The name means `beautiful from any angle`, which <br>explains its appeal as a venue for weddings. Come here at <br>
the weekend and you`re likely to see happy couples being <br>photographed with the garden as their backdrop. Designed <br>around a central pond, the garden includes venerable <br>bonsai trees, an ancient stone lantern, and a tea house <br>
where you can enjoy tea and snacks served by ladies in <br>kimonos. Exquisite.<br><br><a href="http://japantourist.jp/photos/happo-en-garden-shirokane">http://japantourist.jp/photos/happo-en-garden-shirokane</a><br><br>***------------------------****-------------------------***<br>
<br>+++ JAPAN BUSINESS Q&A -- Godo vs. Kabushiki Kaisha<br><br>=> Question:<br>My friend and I have been thinking about starting our own<br>consulting firm. What is the difference between a Godo<br>Kaisha and a Kabushiki Kaisha? Which would be a better<br>
choice for our purposes?<br><br>*** Answer:<br>The answer to your question will depend a bit on your<br>priorities. The company form called Kabushiki Kaisha (KK)<br>tends to have a bit more value in terms of recognizabilty<br>
in comparison to a Godo Kaisha (GK), but it also costs more<br>to establish and requires at least one shareholder’s <br>meeting a year, which may not fit your needs. On the other <br>hand, the GK form is increasing in numbers due to its lower<br>
incorporation costs as well as the fact that a GK has no<br>need to hold an annual shareholder’s meeting.<br><br>More specifically, the main differences between the two<br>company forms are as follows:<br><br>1. Stakeholder responsibility<br>
The KK is a company format that allows shareholders to have<br>limited responsibility, by separating the company from the <br>directors, executive officers, and management that actually<br>run it. On the other hand, a GK also allows stakeholders to<br>
have limited responsibility, but the stakeholders serve as<br>managing members running the company.<br><br>2. Corporate management<br>In the case of the KK, directors and executive officers run<br>a company under the Japanese Companies Act. They are <br>
subject to the restrictions and business procedures that <br>are required under this law and therefore decision-making <br>may at times seem slow. Management will serve under <br>fixed-term contracts, and the KK may need to make their <br>
financial statements public, adding an additional layer of <br>cost. <br><br>To continue reading<br><a href="http://www.nagamine-mishima.com/archives/3294?lang=en">http://www.nagamine-mishima.com/archives/3294?lang=en</a><br>
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<br>+++ ABOUT US<br><br>STAFF<br>Written by: Terrie Lloyd (<a href="mailto:terrie.lloyd@japaninc.com">terrie.lloyd@japaninc.com</a>)<br><br>HELP: E-mail <a href="mailto:Terrie-request@mailman.japaninc.com">Terrie-request@mailman.japaninc.com</a><br>
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