Word: shoichiro
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...contrast, the heads of Japan's Big Three -- Shoichiro Toyoda of Toyota, Nobuhiko Kawamoto of Honda and Yutaka Kume of Nissan -- earned a total of $1.8 million, counting bonuses. Moreover, while the Japanese execs are presiding over thriving enterprises, the U.S. auto industry is coming off one of its worst years ever. Sales of American-made cars plunged 12.6%, to 8.7 million, in 1991; more than 40,000 autoworkers lost their jobs, and GM announced plans to eliminate 74,000 jobs by 1995; and the Big Three rolled up financial losses that analysts predict could exceed $6 billion...
...Toyota, Shoichiro Toyoda is provided with membership in several elite golf clubs. Kume of Nissan receives a company-rented house in a posh Tokyo neighborhood. Nissan also provides its 47 board members with free use of a vacation home in Hakone, a mountain and lake resort area south of Tokyo. Liberal expense accounts routinely cover pricey meals and bar bills that can add up to $1,000 a head for a night...
...innovation. The company operates with an openness that is rare in the world of Japanese business, where consensus and conformity are the rule. To boost communication, Honda has done away with executive lunch rooms and private offices. At Marysville, for example, egalitarianism prevails: all Honda employees, right up to Shoichiro Irimajiri, president of Honda's American manufacturing division, wear white coveralls with their names stitched in red lettering above the right breast pocket...
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