How do I find a Japanese business partner?
Finding potential business partners
- Trade Tie-Up Promotion Program (Japan External Trade Organization (JETRO))
- A website run by the Japan External Trade Organization (JETRO) for international business matching.
How do Japanese build business relationships?
Japanese business culture places less importance on honoring the details of an agreement and more emphasis on building a strong long-term relationship. The simplest prerequisite for successful business relationships in Japan is to always be polite, punctual, and respectful of your business partners.
How do you get into the Japanese market?
Most U.S. exporters entering Japan begin by finding a local partner to serve as an agent, distributor, and/or representative. Agents and distributors are the most common partnerships used by foreign firms to gain their initial foothold in Japan. U.S. firms may also consider establishing a branch sales office.
Why is it difficult to enter the Japanese market?
But, Japan continues to be one of the most difficult and challenging countries for market entry. The number of regulatory hurdles and cultural factors can make Japan a difficult country to penetrate. Having local help can be a big asset when expanding into the country.
Why do companies fail in Japan?
Because of Japan’s size, substantial investments are necessary, and therefore the inherent risks are also large: you either win big, or lose big. A common reason for failure of foreign companies in Japan is that investments are too low.
Do keiretsu still exist?
Today’s keiretsu horizontal model still sees banks and trading companies at the top of the chart with significant control over each company’s part of the keiretsu. Shareholders replaced the families controlling the cartel as Japanese law allowed for holding companies to become stockholding companies.
Is Japan a good country for business?
The Japanese economy ranks third in the world in terms of gross domestic product (GDP), but 114th for ease of doing business. Despite its domestic competence, having local help on board is essential to the smooth running of an overseas venture.