Word: japanization
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Dates: during 1990-1999
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...calls his empire an Internet zaibatsu. It is a reference to the pre-World War II forerunners of a corporate form better known as keiretsu, those vertically integrated manufacturing and trading cartels that gave Japan Inc. its fearsome reputation in the 1980s. Son doesn't want to own his companies outright, or to run them. He aims to gain implicit control with a 20%-to-30% stake in each and to build a web of mutual cross-investments with sales, marketing and supply ties. "I want us to be No. 1 in every area," says Son. In five years...
...ambitious plan is that it already seems to be working. Yahoo, E*Trade and GeoCities, among others, are not only dominant among U.S. customers but lead a long list of Softbank companies that Son and his lieutenants say account for more than 90% of all Internet commerce in Japan. As the world's second largest economy has caught on to the power of the Net in the past year, Softbank's stock, which is traded on the Tokyo exchange, has soared. The company's market capitalization is a stunning $79 billion, which puts it ahead of Sony. Softbank has also...
...grand vision of the world's Internet future has been gestating since he was a very determined little boy in Kyushu, Japan. Born of Korean heritage in a place with little tolerance of foreigners (particularly Koreans), Son has fought the battles of an outsider all his life. He bore the boyhood name-calling stoically and tried to toughen himself physically by inserting weights in his shoes to strengthen his legs (the better to play soccer). He left for the U.S. when still in high school, graduated from the University of California, Berkeley with an economics degree and, upon his return...
...founded Softbank Corp. in Tokyo in 1981. Legend has it that after he stood atop a crate and ranted about the company's future domination of the PC industry, his first two employees quit on the spot. Despite that vote of no confidence, Softbank went on to become Japan's leading software distributor...
...years ago today, leaders from around the globe began a 10-day United Nations summit in Kyoto, Japan to address the threat of global climate change. While the risks posed by such change have not disappeared, serious proposals to mitigate climate change (or "global warming") have vanished from the political map. After two years of stasis, it is high time that the United States face the problem of a changing climate and take positive steps to reduce its greenhouse gas emissions...