What do Nintendo, Capcom, Toyota, and Sony have in common? Each of these businesses originated and remains in Japan. These companies have played tremendous roles in global business and brought many people to the country for business.
If you’re in business, you may wonder if you should do business in Japan. Does this country provide enough incentives for your company to do business there?
The short answer is yes. Japan’s business market offers several benefits for international companies. We’ll explore some of those benefits in this guide!
The Third Largest Economy in the World
One reason for doing business in Japan is its incredible economy. Despite several economic struggles from the 50s to the 90s, Japan has the third-largest economy in the world by nominal GDP.
In terms of purchasing power, Japan has the fourth-largest economy. Its economic standing has made it a viable location for many of the world’s leading businesses, including Microsoft, Apple, BMW, and Chanel. These brands continue to thrive in the Japanese economy.
This economy makes it easier for businesses to profit. Why not let this economy work to your company’s benefit?
Japanese Business Culture Increases Productivity
The Japanese business culture is a legendary component of the country’s reputation. A critical part of this culture is a term called “kaizen.” The word broadly translates to “improvement.”
How does kaizen apply to the Japanese work culture? First, it strives to keep workers continually engaged in activities to improve all their work functions.
Many workers become unmotivated because they remain unengaged during their workday. Kaizen eliminates that problem and teaches workers to appreciate the value in the smallest achievement that leads to improvement.
The workplace culture doesn’t just stop at the office. It often extends to other parts of life, including food preparation. Incorporating this business culture into your company can lead to tremendous improvements.
Business in Japan Can Eliminate Language Barriers
Many people hesitate to enter the Japanese business market because of language barriers. This seems like a viable problem, given that only 2% of Japanese people speak English fluently.
However, there are many ways to work around this problem. Many Japanese localities work to eliminate language barriers when English-speaking businesses move to the area. These efforts can help your English-speaking workers adjust to the area.
There are other ways to navigate these challenges, too. For example, you may wonder how to translate crucial documents to Japanese for your Japanese branch.
Fortunately, there are ways to navigate this challenge. A Japanese translation agency is often the best way to achieve this. These services can help you get the best and most accurate translations.
Decide if Business in Japan Is Right for You
Doing business in Japan can bring several benefits to your company. All that’s left is to decide whether your company should take advantage of these. Start researching today to discover whether business in Japan is right for you!
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