Word: keiretsu
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Dates: during 1980-1989
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...believe in talking out problems between Japan and the U.S. But the Foreign Ministry, which sets the tone for negotiations, must stand firm in expressing Japan's position. For example, the U.S. claims that our keiretsu-ka ((vertical integration)) of banks and other financial institutions is outrageous. I don't agree. It's an idiosyncrasy of the Japanese economy. But unless we make the structure of keiretsu-ka clear to all, the Japanese market remains very unfair to people who come from abroad to do business in Japan...
...minded head of Dai- Ichi Kangyo, he oversees a vast network of offices from Chicago to Caracas and Madrid to Melbourne. Dai-Ichi Kangyo tries to portray itself as a friendly institution. Its slogan: "The Bank with a Heart." Like most major Japanese banking concerns, it belongs to a keiretsu, an industrial group made up of dozens of interconnected companies. The bank owns stock in the companies and extends them much of the credit they need. The Dai-Ichi Kangyo keiretsu includes such well-known firms as Hitachi, Isuzu and Kawasaki. As part of his duties, Hagura meets once...