Word: keiretsu
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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...
...world leader in low-cost, high-volume auto production. Purchasing arrangements had been revamped so that suppliers took on as much as 70% of the cost and manufacturing responsibility for new cars--a success that prompted the Harvard Business Review to describe Chrysler and its suppliers as an "American keiretsu," a reference to Japan's synergistic business groups...
COMPETITIVE ADVANTAGE Close cooperation among all the links in the manufacturing chain--the cartel-like structure known as Keiretsu--turned the country into a production machine. A promise of lifetime employment and a culture of consensus created silky-smooth labor relations. For more than a decade, this unique brand of teamwork pushed Japan into an economic league of its own. No other country had such low unemployment and low inflation; the rest of the world struggled with stagflation (high unemployment and inflation). Japan racked up some $400 billion in trade surpluses in the decade. Indeed...
...court of public opinion, where they are losing." Shortly after the demonstration, Mitsubishi Corp. chairman Minoru ("Ben") Makihara began sending signals about a settlement. M.M.M.A. is part of Mitsubishi Motors, which is itself part of Mitsubishi Corp., a loose alliance of more than 200 operating companies the Japanese call keiretsu. Top corporate executives fear that the troubles in Normal could reverberate throughout the group...
...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...