Word: yawata
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Dates: during 1960-1969
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...delegation beat its way up and down Japan, loudly demanding that Premier Hayato Ikeda "suspend his hostility" toward Red China. And a delegation of 16 top Japanese businessmen flew off to Peking on an economic good-will mission. "World thinking is rapidly shifting," said Managing Director Heigo Fuji of Yawata Steel, Japan's biggest steelmakers. "Japan, too, must take positive steps by actively supporting Red China's entry into...
There was much to remember in 1960 before forgetting. With the business boom, companies were able to increase their year-end bonuses to employees by 20%, to a national total of $1.4 billion, still have plenty left to pay for parties. One company alone, Yawata, the nation's largest steel producer, spent an estimated $150,000 on its bohnenkai last year. Besides regarding the parties as a safety valve to let their hard-working employees blow off steam, businessmen use them to entertain favored customers and government officials. At other times in the year, such entertaining would be frowned...