Word: yawata
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Understandably, the Japanese are risking only small amounts in fledgling economies, but the lure is irresistible. Ishikawajima-Harima Heavy Industries, Japan's largest shipbuilder, is putting an initial $1,500,000 into a shipyard in Singapore, has joined in a $2,000,000 cement plant in Malaya. Yawata Iron & Steel...
...average 23% for the ten Japanese companies that made the top 100 in both 1960 and 1961. Three did outstandingly well: HITACHI, LTD., an electronics manufacturer, climbed from 17th place to eleventh in the standings, largely on the strength of rising demand in Japan for its telecommunications equipment; YAWATA IRON & STEEL advanced from 26th to 20th on increased use of its steel by Japan's expanding construction industry, and MATSUSHITA ELECTRIC INDUSTRIAL (TIME cover, Feb. 23) rose from 74th to 56th with its fast-moving radios and TV sets. In addition, there were four Japanese newcomers...
Tokyo's Yawata Iron & Steel Co. offered to purchase 5,000,000 tons of South African pig iron over a ten-year period. With such a huge deal in the works. South Africa could hardly afford to insult the visiting Japanese trade delegations that now would regularly visit the country. Without hesitation, Pretoria's Group Areas Board announced that all Japanese henceforth would be considered white, at least for purposes of residence, and Johannesburg's city fathers decided that "in view of the trade agreements" they would open the municipal swimming pools to Japanese guests...
...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...