Word: nissans
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Dates: during 1990-1999
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...news is good news in Japan these days. Last month Nissan announced a sweeping restructuring with thousands of job cuts, and last week it reported a $3 billion loss, one of the biggest in history. The overwhelming reaction among Japan watchers was...jubilation. These days each time Mitsubishi, NEC or Hitachi announces a plant closing, the Tokyo stock market surges higher. Economists now cheer as banks that once could have bought small countries desperately merge or plead for a white knight (even foreigners are welcome) to save them from insolvency. Behind this seemingly misplaced optimism in Japan's ailing economy...
Amen. Even as giants like Nissan and Mitsubishi are racked by restructuring woes, new start-ups emerge every day in Japan. To be sure, their ranks are puny by U.S. standards, but the movement seems to have taken hold. This fall 2,300 enthusiasts turned out for a meeting promoting the establishment of a NASDAQ over-the-counter market in Japan. Old business models are being tossed aside like yesterday's sashimi. The hero of a popular novel is the young president of a chain of bars. One of Japan's biggest growth industries is continuing education. And Tokyo...
...which to float a lot of start-ups, nor is there patience for companies that don't start making money immediately. The threat of massive failures at the big old companies has already drawn a backlash from top politicians who want to preserve lifetime employment. Next March, analysts predict, Nissan will announce an even bigger loss. But then, what's bad news for Nissan is good for Japan. --By Frank Gibney Jr. Reported by Tim Larimer/Tokyo
...Tajiri accumulated insects, especially beetles. Even now, he tells TIME, he is proud of the way he captured beetles, looking under rocks to find them sleeping. "Nobody else thought to do that," he says. The son of a Nissan salesman and a housewife, Tajiri was raised in a Tokyo suburb in the late '60s, before the city crept outward. "As a child, I wanted to be an entomologist. Insects fascinated me. Every new insect was a wonderful mystery. And as I searched for more, I would find more. If I put my hand in a river, I would...
...designers have taken its lessons to heart. Witness this spate of funky, bubbly, environmentally friendly concept cars at recent trade shows. Honda's Fuya-jo, which means "all-night entertainment district," boasts a turntable-like steering wheel and mixer-like dashboard. Also shown: the Norwegian Think electric car; Nissan's Hypermini EV, which goes up to 100 miles on a single battery charge; Honda's fuel-cell prototype FCX. What would Herbie...