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...modern weaponry, Japan has been able to concentrate investment on automated industry. The destruction of its factories by wartime bombing left it free to rebuild with the latest technology. To do that quickly, the new industrialists bought patents and licenses from everywhere. Says Shigeo Nagano, chairman of Nippon Steel, which today produces more tonnage than any other company in the world: "So long as we had to start from nothing, we wanted the most modern plant. We selected the cream of the world's technology. We learned from America, Germany. Austria and the Soviet Union, and adapted their methods...

Author: /time Magazine | Title: Business: Japan, Inc.: Winning the Most Important Battle | 5/10/1971 | See Source »

...ancient Nippon, samurai warriors raced their horses for the honor of being the first to lop off an enemy's head. The horses are still running, but today the most that a man can lose is his bank account. In the past decade the total annual betting has increased tenfold to $1.6 billion, or more money than the government spends on national defense or foreign aid. Horse racing in fact has become the new national pastime of Japan, outdrawing major league baseball in attendance last year by the astounding margin of 60 million...

Author: /time Magazine | Title: Sport: Off and Running in Japan | 6/8/1970 | See Source »

...minimize the risk, Premier Sato's government has been urging Japanese businesses to grow stronger by merging. In notable response last week, Japan's two leading steel producers, Yawata and Fuji Iron & Steel, joined forces to become the Nippon Steel Corp. The new company is the world's second largest steel producer, behind U.S. Steel. It is also Japan's largest corporation, with annual sales of $3.1 billion. Together the two companies last year produced 31.5 million tons of crude steel, or 36% of Japan's total. In a period of resurgent Japanese nationalism...

Author: /time Magazine | Title: Japan: Steeling for Competition | 4/13/1970 | See Source »

...Nippon officials already talk of overtaking U.S. Steel by 1972. But an open confrontation in world markets between the titans is not likely soon. After severe prodding by Washington, the Japanese in 1968 agreed "voluntarily" to limit their shipments to the U.S. to 5,200,000 tons a year. So far, the move has been relatively painless for Japanese steelmen, who have found new markets in Europe and China to bolster home markets that are rising fast. After years of skimping on domestic needs to concentrate on exports, the Japanese are at last expanding and improving their inadequate housing, roads...

Author: /time Magazine | Title: Japan: Steeling for Competition | 4/13/1970 | See Source »

Though Japan's biggest daily, the Asahi Shimbun, has suggested that the country be renamed "Kindergarten Nippon," not all the fads are frivolous. Theater and concert performances are usually S.R.O., especially if the bill is Western...

Author: /time Magazine | Title: World: Toward the Japanese Century | 3/2/1970 | See Source »

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