Wall Street Journal (December 22)
Two partners in Bain & Company’s Tokyo office write “Japan’s marketplace isn’t a monolith.” They believe the cosmetics business provides “glimpses of what a better Japanese economy would look like.” During the past decade, cosmetics have benefited from deregulation such as the elimination of manufacturer’s recommended prices and relaxed procedures with the Ministry of Health, Labor and Welfare. “These reforms have had dramatic implications. By spurring new and dynamic competition, deregulation unleashed a refreshing spirit of innovation in an industry that had grown stagnant.” The authors believe companies, consumers and Japan’s economy have benefited because the “more competitive market forces companies to think more creatively about consumers’ needs.”
Tags: Competition, Costmetics, Deregulation, Tokyo
Institutional Investor (December)
The Mandarin Oriental Tokyo was named the world’s best hotel by Institutional Investor. The Mandarin received a score of 98.7, beating out competitors such as the Peninsula Beijing (94.1) and the Ritz Carlton Central Park New York (92.3). The results are based on the responses of senior finance executives from 35 countries who averaged 52 nights on the road in the previous year.
The Economist (October 28)
“Tokyo’s governor is starting to look like yesterday’s sushi” proclaims the Economist. Tokyo voters may once have enjoyed the antics of Shintaro Ishihara, but his penchant for confrontation is wearing thin. Ishihara is now fighting fish mongers to relocate Tsukiji fish market to a polluted site where benzene levels exceed the safety threshold by up to 43,000 times. Ishihara’s latest fight suggests 11 years of power may have “gone to his head.”
