March 2024 Event Highlights
View a collection of photos from the ACCJ’s March 2024 events.
ACCJ leaders and inspirational mentors Sarah Bader, Ginger Griggs, Elizabeth Handover, Deborah Hayden, Azusa Koike, Mari Matthews, and Catherine Ohura shared lessons on career-building and more at an event honoring International Women’s Day on March 13 event at Tokyo American Club.
The American Chamber of Commerce in Japan hosted a wide variety of events in March. Among these were:
- The Evolving Healthcare Landscape: Trends in the Use of Medicines and Customer Engagement in Japan
- Executive Perspectives on the Post-Covid Workplace
- Japan Fintech Festival x ACCJ FinTech Panel
- Miracles through Partnership: Improving Japanese Healthcare through Collaboration and Entrepreneurship
- Speed Mentoring to Celebrate International Women’s Day
- How Can Successful M&A Unlock the Potential of Companies in Japan?
- The Likability Advantage
- The Future of Television: Streaming and Disruption in the Media Industry
- Cybersecurity Lessons from Ukraine
- Business Strategy Series: From Nada to the World: Learning from Hakutsuru Shuzo's Overseas Strategy
Here are some of our favorite highlights.
February 2024 Event Highlights
View a collection of photos from the ACCJ’s February 2024 events.
The Women in Business and Kansai Diversity & Inclusion Committees held the WIB Learn from Examples Series: Unveiling the Power of DEI in Corporate Success at Nippon Boehringer Ingelheim (NBI) Co., Ltd.’s Kobe Pharma Research Institute on February 15.
The American Chamber of Commerce in Japan a hosted wide variety of events in February 2024. Among these were:
- From Import Niche to Mainstream Hit: How Haribo Goldbears Cracked Japan’s Convenience Stores and Reached No. 1
- Entrepreneurs vs. Corporate Giants: A Look Ahead at Japan’s Economic Future
- WIB Learn from Examples Series: Unveiling the Power of DEI in Corporate Success at Nippon Boehringer Ingelheim Co., Ltd.
- Unlocking Sustainable Futures: A Deep Dive into Carbon Accounting
- Fireside Chat with Hiroyuki Otsuka, founder and chief executive officer of Newton Investment Partners (former deputy head of Carlyle Japan)
- Chubu Children’s Fund Charity Lunch
- Regulatory Innovation in the Cloud: Accelerating Critical Therapies to Citizens of the World
- Kansai CEO Series: Canvas to Corporation: Unleashing the Power of Art in Business
Here are some of our favorite highlights.
2024 ACCJ Shinnenkai
ACCJ members and guests ushered in the Year of the Dragon in the Imperial Hotel’s Hikari Room.
Members and guests ushered in the Year of the Dragon in the Imperial Hotel’s Hikari Room.
Photos by Miki Kawaguchi/LIFE.14
From left: ACCJ President Victor Osumi, Deputy Chief Mission Raymond Greene, Chairman of Japan–US Business Council and Vice-Chair of Keidanren Jun Sawada, and ACCJ Executive Director Laura Younger.
The American Chamber of Commerce in Japan (ACCJ) held its second in-person shinnenkai since the start of the Covid-19 pandemic, ushering in the Year of the Dragon at the Imperial Hotel on January 26. Some 270 guests joined the ACCJ to kick off the new year with the kagami-biraki—the ceremonial cracking open of a sake barrel—followed by networking with fellow members, friends, and officials from the Japanese and US governments.
ACCJ President Victor Osumi gave opening remarks and shared his vision of fostering partnership, embracing progress, and bridging the future with excellence. He then led the kagami-biraki alongside ACCJ Executive Director Laura Younger, US Embassy Deputy Chief of Mission Raymond Greene, and Jun Sawada, chairman of the Japan–US Business Council and vice-chair of Keidanren (the Japanese Business Federation).
As we continue our celebrations to mark the ACCJ’s 75th anniversary, we look forward to working with our members and partners to advance US-Japan relations and make a positive impact on the international business environment in Japan.
Shining Bright
ACCJ members and guests gathered at the Hilton Tokyo in Shinjuku on December 2 for one of the chamber’s largest annual events. And this edition offered a chance to celebrate the chamber’s 75th anniversary while also raising funds for charity.
Diamond Charity Ball celebrates the ACCJ’s 75th anniversary.
Members of the American Chamber of Commerce in Japan (ACCJ) and guests gathered at the Hilton Tokyo in Shinjuku on December 2 for one of the chamber’s largest annual events. And this edition, the Diamond Charity Ball, offered a chance to celebrate a major milestone—the chamber’s 75th anniversary—while also raising funds for charity.
The exceptional venue, amazing culinary offerings, spectacular entertainment, stellar selection of fine wine and spirits, and expansive silent and live auctions and raffle helped us achieve our goal.
Jesper Koll and Nahoko Bolden emceed, and performers included Marcus Pittman and the High Roller Horns (featuring the Q Factor G.N.P.) and Wakiri, a group of passionate artists comprising drummer and dancer Akira Katogi, shamisen player and composer Etsuro On, and Shunsuke Kimura, a Japanese composer who plays flute and tsugaru-shamisan. ACCJ intern and Bishop Scholar Matthew Trani also shared his singing talents.
“Success would not have been possible without the invaluable support of our generous sponsors, enthusiastic attendees, and the many individuals who took part in our online raffle and auction.”
Together with the ACCJ staff, the Charity Ball Committee—Barbara Hancock, Kevin Naylor, Ryan Watson, Tomomi Fujita, Sonia Dhillon Marty, and William Titus—worked diligently to organize the event.
But success would not have been possible without the invaluable support of our generous sponsors, enthusiastic attendees, and the many individuals who took part in our online raffle and auction.
The committee extends its deepest gratitude to our sponsors and the ACCJ community for making a big difference in our ability to help those in need. We are grateful to each and every person involved, and extend a huge thank you to all!
Photos: Media Sense K.K.
Legacy of Giving
The Charity Ball is not only one of the biggest events on the annual social calendar, it is also one of the ACCJ’s most important fundraisers. The money raised during the event is key to the chamber’s ability to support the community and help those in need.
The Charity Ball Committee works closely with the ACCJ Community Service Advisory Council to activate this effort with the generous participation of member companies and the membership at large. The annual Charity Ball is a time when we come together to share our success in Japan with each other and, at the same time, generate funding for charities qualified by a rigorous process.
This year we are proud to support the Mike Makino Fund for the Homeless, Food Bank Kansai, and the ACCJ Community Service Fund. We will also contribute to charities that help at-risk children, families, children’s hospitals and homes, and programs for these children.
“The ACCJ has a well-rounded mission that includes not only networking, information sharing, and advocacy, but also constructive engagement with the community.”
Together with the ACCJ staff, the Charity Ball Committee—Barbara Hancock, Kevin Naylor, Ryan Watson, Tomomi Fujita, Sonia Dhillon Marty, and William Titus—worked diligently to organize the event.
But success would not have been possible without the invaluable support of our generous sponsors, enthusiastic attendees, and the many individuals who took part in our online raffle and auction.
The committee extends its deepest gratitude to our sponsors and the ACCJ community for making a big difference in our ability to help those in need. We are grateful to each and every person involved, and extend a huge thank you to all!
President’s Circle Sponsor
Platinum Sponsor
Aflac
Bronze Sponsors
AIG Companies in Japan
Chevron International Gas Inc. Japan Branch
Prudential Holdings of Japan, Inc.
Silver Sponsor
Boeing Japan K.K.
Coca-Cola (Japan) Co., Ltd.
Mercury Sponsors
Morgan, Lewis, & Bockius LLP
NRK Sogo Kikaku Co. Ltd.
Prize Sponsors
Diamond
Air Canada
CIC Toranomon G.K.
Delta Air Lines
Hakuba Hotel Group
Herman Miller Japan, Ltd.
Ichijiku
KPG Hotel & Resort
Kraft Heinz Japan
Marriott International, Inc.
MediaSense K.K.
Ratko Back Painting
The Peninsula Tokyo
United Airlines, Inc.
Vega Project K.K.
Ruby
Grand Hyatt Tokyo
Hilton Nagoya
Park Hyatt Tokyo
There’s No Accounting for Taste
Sapphire
Amway Japan G.K.
ELC Japan K.K. (Estée Lauder)
Fukushima Garo
Good Morning Tokyo Co., Ltd.
Hakkaisan Brewery
Moegi
Simon Dalby Art
Tokyo American Club
Emerald
Andaz
Asian Tigers Japan
Conrad Tokyo
DevilCraft
Eastern Carpets
Elana Jade
Godiva Japan Inc.
grapeoff
Hilton Osaka
Hilton Tokyo
Hilton Tokyo Bay
InterContinental Osaka
Japan Design Collective
Jupiter International Corporation
McLarty Associates
Minamiaoyama7chome Gyoseishoshi Office
pearls.jp
Riedel Japan
Shop Japan
Takata Co., Ltd.
The Strings by InterContinental Tokyo
Temple University Japan Campus
Yellow Toes Art Gallery
November 2023 Event Highlights
View a collection of photos from the ACCJ’s November 2023 events.
From left: ACCJ Governor John Carlson, Governor Mark Hosang, Governor Meghan Barstow, President Om Prakash, Special Advisor Jenifer Rogers, Vice President Robert Roche, and Treasurer Steve Briggs pose at the 16th Chubu Champagne Ball and Awards Evening, held on November 17 at the Hilton Nagoya.
The American Chamber of Commerce in Japan hosted 55 events in November 2023. Among these were:
- Conversation with Takami Former CEO Yuji Okamura
- G7 Competition Enforcers and Policymakers Summit Side Event
- Chubu Walkathon Charity Fund Presentation Ceremony
- AI in Marketing and PR: The Winning Formula
- 2022 ACCJ Person of the Year Award: Mr. Akio Mimura
- Nomu-nication: Celebrating the Reunion with America-Japan Society
- Celebrating Seisho Kondo: Community Champion
- Sales Support Alliance November Meeting
- ACCJ & JASO Thanksgiving Party
- Welcome to the Wild, Wild West! The 2023 ACCJ/TJCS Champagne Ball and Awards Evening
- Healthcare x Digital 2023: Generative AI: Boosting Healthcare
- Kansai Tech Series #11: Long-chain DNA Synthesis and the Potential of Biofoundry for Gene Therapy
- ACCJ-CSC: Urban Gardening 2023 (Part 2)
- Diversity & Inclusion Summit Series 2023: Unleashing the Power of Inclusion, Day 3
Here are some of our favorite highlights.
Diversity & Inclusion Summit Series Day 3
The ACCJ hosted its first in-person Diversity & Inclusion Summit since the pandemic on Day 3 of the "Unleashing the Power of Inclusion" series.
Participants in the first in-person Diversity & Inclusion Summit since the pandemic gathered on Day 3 of the Unleashing the Power of Inclusion series.
The ACCJ hosted its first in-person Diversity & Inclusion Summit since the pandemic on November 28. Day 3 of the series was entitled Unleashing the Power of Inclusion.
The event, held at the Intercontinental Hotel Osaka, featured a panel discussion with:
- Simone Thomsen, president and representative director, Eli Lilly Japan K.K.
- Steve Briggs, president, Northeast Asia, Kraft Heinz
- Haruko Watanabe, representative director, president, and chief executive officer, American Home Assurance Company, Ltd.; director and vice chairman, AIG Japan Holdings KK
- Lavanya Wadgaonkar, global vice president, communications and global DEI champion, Nissan Motor Co. Ltd.
- Nuala Connolly, head of talent, DEI country lead, and deputy head of HR, AIG Japan
Hosted by the Kansai Diversity & Inclusion, Women in Business, and Kansai Business Programs Committees, the three days of training sessions, workshops, and discussions aimed to create safe and inclusive environments in the workplace.
October 2023 Event Highlights
View a collection of photos from the ACCJ’s Ocotober 2023 events.
The Cross-Chamber Young Professionals Speed Networking event held on October 25 featured support from eight chambers of commerce in Japan.
The American Chamber of Commerce in Japan hosted 57 events in October 2023. Among these were:
- The North America–Europe Golf Challenge in Japan 2023 (October 6)
- Innovation in Residential Energy Business Models (October 10)
- Villanova University MBA Delegation Meeting (October 10)
- Diversity & Inclusion Summit Series 2023 "Unleashing the Power of Inclusion" Days 1 and 2 (October 5 and 13)
- Chubu Children's Fund Golf Tournament (October 13)
- Policy Briefing with Eric Pan of Investment Company Institute (October 16)
- New Jersey First Lady Tammy Murphy (October 17)
- Sales Support Alliance October Meeting (October 18)
- The New Social Customer and How to Access Your Audience (October 19)
- Ordinary General Meeting (October 24)
- Cross-Chamber Young Professionals Speed Networking (October 25)
- Generative AI: How It Will Shape Businesses Tomorrow and Is Transforming Legal Work (October 25)
- Unveiling the Power of DEI in Corporate Success (October 26)
Here are some of our favorite highlights.
September 2023 Event Highlights
View a collection of photos from the ACCJ’s busy schedule of September 2023 events.
Renowned economist and Japan optimist Jesper Koll (center left) delivered a compelling case for Japan’s future on September 4 at an event hosted by the ACCJ Alternative and Foreign Direct Investment Committee at Tokyo American Club.
The American Chamber of Commerce in Japan hosted 50 events in September 2023. Among these were:
- Japan Outlook and Opportunities: Ambitious Re-imagination with Jesper Koll
- Security Clearances in Japan
- USG Briefing w/ Deputy Secretary of Commerce Don Graves
- DC Doorknock Debref with Keizai Doyukai
- Joint Networking with the Ireland Japan Chamber of Commerce
- Summer's End Multinational Chamber Networking Matsuri
- September Leadership Forum
- T&L Meetings and Networking Event
- Innovate & Connect: Tokyo’s ICT Networking Fiesta at Havana Café
- Thinking Local to Go Global: NBA Lessons on Business Expansion
Here are some of our favorite highlights.
2023 DC Doorknock
During the first full DC Doorknock since 2019, ACCJ delegates met with leaders in Washington, DC, to discuss security, economic, and strategic partnerships.
The 2023 ACCJ DC Doorknock delegates gather in front of the US Capitol.
On September 12 and 13, American Chamber of Commerce in Japan (ACCJ) leaders made their first full visit to Washington, DC, since the start of the coronavirus pandemic. These DC Doorknock visits are an important part of the ACCJ’s advocacy efforts and strengthen US–Japan relations.
ACCJ President Om Prakash was joined by Vice Presidents Jason Hyland and Victor Osumi; Governors Hans Klemm, Frank Packard, and Will Shaffer; Treasurer Steven Briggs; Special Adviser Christopher LaFleur; Digital Forum Vice-Chair Kristopher Tate; and Executive Director Laura Younger.
The delegation was warmly welcomed by administration officials, members of Congress, and officials from the Embassy of Japan and the US Chamber of Commerce. Topics of discussion included security, economic, and strategic partnerships.
The Bishop Family Memorial Scholarship Fund
On June 12, the ACCJ and the United States–Japan Bridging Foundation gathered at Tokyo American Club to honor the family and launch the Bishop Family Memorial Scholarship Fund at an event entitled Lives Lived for Bridging the United States and Japan.
Honoring the legacy of ACCJ leader Bill Bishop and his family through education
As a typhoon slammed Yokota Air Base in July 1974, a plane rocked its way down to the runway. Onboard was navy photographer Bill Bishop. That first night, he also experienced his first earthquake. It was a dramatic start to a five-decade relationship with Japan that would lead the South Dakota native to become a key part of the US business community in the country.
Last December, on Christmas morning, Bishop, his wife Izumi, and their daughter Sophianna lost their lives, killed by their neighbor at their family home in Saitama Prefecture.
Members of the American Chamber of Commerce in Japan (ACCJ) remember Bishop for his kindness, humor, friendship, and dedication to the chamber, where he served as chair, vice-chair, and board liaison of the Healthcare Committee over the years.
On June 12, the ACCJ and the United States–Japan Bridging Foundation gathered at Tokyo American Club to honor the family and launch the Bishop Family Memorial Scholarship Fund at an event entitled Lives Lived for Bridging the United States and Japan.
In attendance were US Ambassador to Japan Rahm Emanuel, representatives of Tochigi Prefecture Governor Tomikazu Fukuda, and ACCJ members and guests.
“We hope creating a fund that will support students who will come from the US to study in Japan, at Temple University, will be an incredible way to support Bill and his family’s legacy.”
Tom Mason, the foundation’s executive director, said, “We hope creating a fund that will support students who will come from the US to study in Japan, at Temple University, will be an incredible way to support Bill and his family’s legacy.”
Bishop studied in Japan himself and received a bachelor of arts degree from Sophia University. He earned a master’s degree from Temple University in Philadelphia, and later became a lecturer and board member at the Japan campus.
The event also marked the 25th anniversary of the United States–Japan Bridging Foundation, which provides US undergraduates—especially those from historically underrepresented communities—with scholarships to study abroad in Japan. It also offers mentorship and networking opportunities to build a Japan-related career, fostering the next generation of US leaders with connections to the bilateral relationship. Since its founding in 1998, the group has supported more than 2,000 students.
Some of this year’s Bridging Scholars, as well as alumni, also joined the event to share their experiences studying in Japan thanks to the foundation’s support.
The Bishop Family Memorial Scholarship Fund will be based at, and managed by, the US–Japan Bridging Foundation, which will administer and manage the scholarship and its programs—including the recruitment of students. Logistics, fundraising, and community support will be provided by the ACCJ.
Education Committee Vice-Chair Thierry Porte, who is also chairman of the United States–Japan Bridging Foundation, is happy to be a part of this.
“I knew Bill Bishop well,” he told The ACCJ Journal. “He and I worked together in the late 1990s to early 2000s at the ACCJ, and he was an active member of the American community in Japan. As [he was] someone who was very active working with students, there was quite a bit of movement in the community to remember Bill and his family.”
Porte said the Bishop Family Memorial Scholarship Fund will be a “living memorial to Bill, his wife, and his daughter and the logical place to collaborate would be the ACCJ, where Bill was very active and his daughter interned.”
Surf the DX Wave
A digital transformation (DX) wave is sweeping across Japan, but learning to surf that wave takes experience. Another group of islands that know a bit about surfing, and have ridden DX to their advantage, could be a guide.
Five big lessons for Japan from Hawaii
As Japan’s fledgling Digital Agency finds its way through its second year of existence, and the Tokyo Metropolitan Government’s new start-up strategy takes hold, a digital transformation (DX) wave is sweeping across the country. Learning to surf that wave takes experience, however, and another group of islands that know a bit about surfing, and have ridden DX to their advantage, could be a guide for Japan.
How the Hawaiian tourism industry found renewed life through digital transformation was the subject of a February 28 event held at Tokyo American Club and online, and entitled How to Surf the DX Wave: Five Big Lessons for Japan from Hawaii. The American Chamber of Commerce in Japan Tourism and Hospitality Committee luncheon—co-hosted by the Digital Transformation and the Information, Communications, and Technology Committees—welcomed Mayumi Nakamura and Mike Birt of Ascent Partners, LLC to discuss the restructuring of Hawaii’s tourism management system.
When the Covid-19 pandemic forced a total shutdown of travel, tourism hot spots such as Honolulu, which had welcomed a record 10.4 million visitors in 2019, went from overtourism to dead empty in just a few days. The islands fell quiet. And when tourism returned in 2021, it was not the same.
Recovering from Wipeout
“As people started coming back, the domestic travel industry was just a madhouse,” Birt explained. It was clear that the pandemic had left Hawaii’s tourism industry scarred and unprepared for the influx. Change was needed.
The seeds for change were planted even earlier. When heavy storms hit Haena State Park, on the island of Kauai, in April 2018, major access roads were shut down and neither tourists nor locals could enter.
It was a needed pause, however. Before the disaster, some 3,000 tourists had visited daily, leaving little room for Hawaiians. “There was some conflict there, and many people couldn’t enjoy their own homeland,” Nakamura explained.
While the storm was a multi-million-dollar disaster for many, others saw it as divine intervention, an opportunity to reappraise the management of state parks and give greater consideration to the balance of tourists and locals.
When the decision was made to transform the system, the Hawaiian government approached Ascent Partners for help. Nakamura led a team that designed a timed-entry reservation system. Entry was restricted to those with reservations, and daily tourist admission was capped. This allowed locals more opportunities to enjoy their own land. Greater emphasis was also placed on hiking the trails and evoking the experience of the natural land as the Native Hawaiians saw it.
Due to the pandemic, all the work had to be done remotely. The Hawaii project was run from Seattle, while the software development team was in India and various support staff were scattered across the US mainland.
The project was a great success. Not only were there societal benefits, but economic ones as well. The state brought in 250 percent of its projected tourism revenue in the first year.
The island of Kauai, home to Haena State Park
Model for DX
Birt believes the fact that this project could be carried out remotely with such great success shows the potential for adapting the approach to other countries, with each following their own philosophy of reimagining post-pandemic tourism.
“It became a model for how to scale and develop very effective software digital transformation projects that can literally span the world,” he explained. “Destination management is a key element—and this isn’t just Hawaii. Venice, Iceland, Amsterdam … there are a number of [places] that have really had to work on how to manage their destination so that it doesn’t become overrun, and the community can still enjoy where they live.”
“It became a model for how to scale and develop very effective software digital transformation projects that can literally span the world.”
Birt and Nakamura said they learned a lot during their three years working with the Hawaiian state government. They shared five lessons which they believe Japan could put into action to transform its own post-pandemic tourism.
Lesson 1: DX requires leadership and vision
“Without a vision, none of the people around [you] can support the project. In the case of Hawaii, it was a return of aloha spirit,” Nakamura said. What made the project possible, she added, was that both the state government and private individuals were on board and committed to using the pandemic to take a bold step.
Lesson 2: DX has customers—and adversaries
“The state parks are literally part of [Hawaii’s] soul; Hawaiians think of their parks as almost a living thing,” Birt explained. Undertaking such a large-scale project, therefore, brought together many parties with a vested interest, whether emotional or financial.
Naturally, with this came those who strongly opposed the transformation. But nobody, Birt and Nakamura acknowledged, knowingly played the role of adversary; they resisted change simply for self-preservation. What saved the project from failure was that powerful friends in the Hawaiian state government shared the vision and supported it from the start.
Lesson 3: Technology is powerful
DX is not a simple one-and-done operation. It is an everyday effort that must be constantly analyzed and adjusted to fit the needs of the project. The DX wave does not stop or slow down. Everyone must be skilled and educated to properly participate in the journey. Questions must be constantly asked. In the case of the Hawaii project: Where are the tourists going? How are they going? How could communication be improved? What could smooth entrance into the parks?
Lesson 4: Expectations change
While the aloha spirit is the genuine treasure of Hawaii, it must always be met in balance with malama, the respect for the state and environment, as well as the customs and culture that come with it. You receive the generosity of Hawaii, but you are obliged to pay it back in appreciation. The same balance is sought in DX, where it has the potential to bring revenue and benefits, but we must be careful to not kill the goose that lays the golden eggs.
Lesson 5: DX waves won’t stop, learn to surf them
Lastly, there must be an emphasis on change, and an understanding that there is no final resting point in DX. Nakamura referred to the decline of Facebook and the rise of the artificial intelligence tool ChatGPT as examples of the unpredictable nature of technology. “You have to be ready to ride the waves as they comes,” she said. “Be adaptable, be adjustable. Don’t think of it as a destination, but as a journey.”
Winds of Change
After two years in virtual space, one of the largest annual events held by the ACCJ returned to its traditional in-person format on December 3, when chamber members and guests gathered at the Hilton Tokyo in Shinjuku for Chicago: An Evening in the Windy City.
First in-person Charity Ball since 2019 brings the ACCJ together
After two years in virtual space, one of the largest annual events held by the American Chamber of Commerce in Japan (ACCJ) returned to its traditional in-person format on December 3, when chamber members and guests gathered at the Hilton Tokyo in Shinjuku for Chicago: An Evening in the Windy City.
The first live Charity Ball since 2019 kept some virtual aspects of the pandemic galas to give the whole chamber community—across the Tokyo, Chubu, and Kansai chapters—the opportunity to participate.
The goal was to raise funds for charity while also bringing one of the ACCJ’s most important social events back to life, and the evening was a roaring success thanks to a great venue; spectacular entertainment, inspired food, wine, and spirits; and a special guest: Chicago’s own Rahm Emanuel, US ambassador to Japan.
The Charity Ball Committee, with the help of the amazing ACCJ staff, worked together to make this event happen. But it would not have been possible without the support of our generous sponsors, all those who attended, and the many people who participated online in our raffle and auction.
With everyone’s support, we raised ¥4.5 million for charities, making a big difference in our ability to help those in need.
The Charity Ball Committee cannot thank our sponsors and the ACCJ community enough for making the event a success. We are grateful to each and every person involved, and extend a huge thank you to all!
Photo of Ambassador Emanuel: US Embassy, Tokyo • All other photos: Media Sense K.K.
President’s Circle Sponsors
Platinum Sponsor
Thomson Reuters
Bronze Sponsors
AIG Companies in Japan
Coca-Cola (Japan) Co., Ltd.
Prudential Financial, Inc.
Gold Sponsor
Boeing Japan K.K.
Mercury Sponsors
Morgan, Lewis, & Bockius LLP
American Automobiles Space
NRK Sogo Kikaku Co. Ltd.
Prize Sponsors
Diamond
Air Canada
Aquasense Hotel & Resort
Delta Air Lines
Double Bounce Productions Inc.
Fufu Hakone
Herman Miller Japan, Ltd.
KOA Production Inc.
Marriott International, Inc.
MediaSense K.K.
MnK Niseko
United Airlines, Inc.
Vega Project K.K.
Ruby
Andaz Tokyo Toranomon Hills
Grand Hyatt Tokyo
Hakuba Hotel Group
Sapphire
Amway Japan G.K.
Dhillon Marty Inc.
ELC Japan K.K. (Estée Lauder)
Mondelēz Japan Ltd.
Park Hyatt Tokyo
Shop Japan
Sunrockers, Ltd.
Tokyo American Club
Emerald
All Nippon Airways Co., Ltd.
ANA InterContinental Tokyo
Antenna America
Asian Tigers Mobility
Big Picture International, K.K.
Bistro Vino Cellars
Conrad Tokyo
DevilCraft
Eastern Carpets
Elana Jade
Enplus Inc.
Food-e
Godiva Japan Inc.
Hafele Japan K.K.
HARIBO Japan
Hilton Tokyo
Hilton Tokyo BayHotel Indigo Inuyama Urakuen Garden
Hotel Indigo Karuizawa
Hyatt Regencv Kyoto
Jupiter International Corporation
M. ISHII & SONS
Northrop Grumman Japan
Palmer House
pearls.jp
Riedel Japan
Sazerac Japan
Simon Dalby Art
The Strings by InterContinental Tokyo
Temple University Japan Campus
Tsingtao Brewery
Yellow Toes Art Gallery
YouMeWe
Leading the Way
Each year, the American Chamber of Commerce in Japan (ACCJ) honors members who have shown extraordinary dedication. On December 20, recipients were recognized in person for the first time since 2019 at a special Leadership Forum networking event, chaired by ACCJ Governor John W. Carlson III, at The Tokyo Edition, Toranomon.
The ACCJ recognizes exceptional contributions for 2022 from across its three chapters
Each year, the American Chamber of Commerce in Japan (ACCJ) honors members who have shown extraordinary dedication. On December 20, recipients were recognized in person for the first time since 2019 at a special Leadership Forum networking event, chaired by ACCJ Governor John W. Carlson III, at The Tokyo Edition, Toranomon.
“ACCJ leaders set the bar high, but are incredibly generous about sharing their knowledge and experience, and I have benefited so much from being a part of this community,” Leader of the Year Anne Smith told The ACCJ Journal. “To be recognized and to have my name officially added to the history of the ACCJ in this way is a career highlight.”
Steven Brown, who created the Ten Points on Business Dinner Series, said being named Leader of the Year for Chubu was “a great honor and quite a surprise.” He added that the most challenging part of the year was overcoming the long hiatus from in-person events forced upon the chamber by Covid-19. “In truth, I was a bit nervous about whether the presentations would be a success, but the speakers have been excellent—both entertaining and informative.”
Kansai Volunteer of the Year Naomi Iwasaki said the award was “like receiving a Christmas present. But I know I am receiving this representing the D&I Committee. Without their love and support, I would not be here today.”
Taking on the emcee role at the D&I Summit and Leadership Series “was exciting and challenging,” she explained.
The ACCJ also honored Ritchell Madikaegbu with a Special Recognition Award for her work as liaison from the US Embassy, Tokyo. Her valuable updates on women’s empowerment and leadership development initiatives—along with spearheading opportunities to connect and share best practices with other organizations supporting the committee’s shared goals—made a big difference in 2022.
“I am truly happy about the honor, and it is a reminder of the importance of the US Embassy–ACCJ partnership,” she said. “I look forward to doing my part to advance US Embassy and ACCJ priorities in Japan in 2023.”
Anne Smith
Dual roles led to Leader of the Year honors for Anne Smith, whose tireless work as vice-chair of both the Government Relations and Healthcare Committees has elevated the ACCJ’s relationships with US and Japanese government partners. She is the face of the Government Relations Committee, setting meeting agendas and running committee-hosted events, and she spearheaded several defining events of the year, including the welcome luncheon with US Ambassador to Japan Rahm Emanuel, attended by more than 160 members and guests. And her work with the Healthcare Committee resulted in meetings with top-level government and industry leaders. Smith’s passionate dedication serves as an inspiration to others and the ACCJ is grateful for her impactful contributions to the chamber’s position as the voice for global business in Japan.
Akimasa Kataoka (Kansai)
Recognized for his superb leadership as co-chair of the Kansai Membership Relations Committee (MRC), Akimasa Kataoka revitalized the MRC and was a driving force behind the committee’s first in-person event in more than two years. Thanks to his efforts, the committee now has a growing membership base and many new events underway, including a young professionals mentorship program. Kataoka’s energy and commitment have created new opportunities for members to participate and get involved in the Kansai Chapter.
Steve Brown (Chubu)
As a founding member of the Chubu Independent Business Committee (IBC), Steve Brown served as the committee’s first chair. He returned to IBC leadership this year, determined to reinvigorate the Chubu Chapter, and provided exceptional leadership as co-chair. He conceived of the Ten Points on Business Dinner Series, in which experienced business leaders shared key insights that led them to success and mistakes that have proved educational. Brown’s enthusiasm and tireless efforts made these monthly events a tremendous success, reengaging members and reestablishing the solid foundation of the Chubu community, and he continues to inspire leaders in the Chubu Chapter and throughout the chamber.
Takako Onoki
Contributing endless energy and expertise to the Competition Policy Committee, Takako Onoki has made invaluable contributions, proactively organizing new speaker events and coordinating advocacy initiatives. She swiftly marshals the committee’s views on public comment opportunities to ensure that the ACCJ has a strong voice on key industry issues. As the committee’s most active member for several years, Onoki is an integral part of the committee’s leadership. The chamber is grateful for her passion and continued dedication.
Naomi Iwasaki (Kansai)
It is for her proactive and enthusiastic support of the Kansai Diversity and Inclusion Committee that Naomi Iwasaki was named Volunteer of the Year. She was critical to the success of the D&I Summit Series, where she managed the Day 2 networking session and served as emcee on Day 3. She also collaborated directly with committee leaders and the speaker for one of the popular Leadership Series speaker sessions. Iwasaki provides an important perspective during committee meetings and is an indispensable asset to leaders and members alike. Her inclusive workstyle encourages others to further participate in realizing the committee’s goals and inspires inclusive business practices.
Rafael Dantas (Chubu)
The ACCJ expresses its deepest appreciation to Rafael Dantas for his outstanding efforts in support of the Chubu Aerospace and Manufacturing Committee (AMC). He organized the Chubu Chapter’s first in-person networking event since before the pandemic, secured a venue where adequate social distancing was possible, and planned activities to facilitate networking among the participants. Due to his ingenuity and initiative, this and a follow-up event were resounding successes, resulting in three new members joining the ACCJ Chubu Chapter. Dantas’s positive energy, superb ability to organize, and strong networking skills are an asset to the entire chamber.
Healthy Ideas
The 2022 HxD event was modeled on the concept of ideathons, or workshop-like gatherings of groups tasked with challenges for which they are to propose solutions. Through this model, a total of 86 ideators, facilitators, and mentors worked together through a cyclic ideation process to identify root causes and develop the next big project in healthcare.
Innovators empower elderly patients at ACCJ Healthcare x Digital Ideathon
Started in 2020, the Healthcare x Digital (HxD) initiative of the American Chamber of Commerce in Japan (ACCJ) has grown to become a key platform for collaboration among innovators, startups, entrepreneurs, and top pharma executives.
After hosting pitch events for the first two years, the first ever HxD Ideathon took place late last fall with a hybrid in-person and online kickoff at the Hilton Osaka on October 29. This was followed by two virtual sessions on November 5 and 12, then finalized by the hybrid pitch event on November 19 at the Hilton Osaka. The four-day event was inspired by the tagline “empowering elderly patients through digital health.”
Participants included university students from the United States and Japan as well as healthcare professionals and a panel of judges from healthcare fields. Their aim? To forge new partnerships and create solutions for some of Japan’s most critical challenges in community healthcare and individual patient care.
Ideathon
The 2022 HxD event was modeled on the concept of ideathons, or workshop-like gatherings of groups tasked with challenges for which they are to propose solutions. Through this model, a total of 86 ideators, facilitators, and mentors worked together through a cyclic ideation process to identify root causes and develop the next big project in healthcare.
Day one began with opening remarks by Simone Thomsen, president and representative director of Eli Lilly Japan K.K. as well as ACCJ governor-Kansai, and continued with a panel discussion and ideation in groups to define problem statements and the healthcare challenges to be tackled. Ideation continued on days two and three, when teams focused on initial designs and worked to find agreement on a solution—one per group—that was to be presented on pitch day.
The event culminated on November 19 with a pitch contest in which nine teams presented their concepts, and engaged in question and answers sessions with judges, who then selected the best ideas. The winning teams will move forward to the next phase of the competition—a hackathon—to be held in 2023.
Pitch Day
The final day was divided into two rounds during which each group had five minutes to pitch their solution to a panel of judges.
Perhaps the biggest draw of HxD is the opportunity to present ideas directly to—and receive invaluable feedback from—industry leaders. There’s also the possibility of entering into a joint venture with, or receiving investment from, an industry player.
Winners also receive cash prizes and, this time, will have the chance to present their ideas at the 2025 Osaka Kansai Expo and as part of the Japanese government’s Super City Initiative.
Let’s take a look at this year’s pitches.
Kyocare
Presented by Hiba Abulgasim, Kyocare is a digital customer-to-customer and business-to-business platform that provides flexible, personalized, quality care.
In the pitch, Abulgasim noted that 28.9 percent of Japan’s population is over the age of 65 —a record number that is growing. But the workforce tasked with caring for them is understaffed and overworked, and about 70 percent want to leave the profession.
This means care services are poorly coordinated. Many elderly people feel lonely and disconnected as a result, and family members tasked with their care feel stressed out.
The solution? Kyocare provides on-demand caregiving services for the elderly through an app that matches those who need long-term home care with nearby care workers.
Hi-Real System
A digital ecosystem pitched by Masato Suzuki and Sachiko Nakatsuka, Hi-Real System allows emergency-patient health records to be accessed by healthcare professionals even before emergency care is provided.
In their problem statement, Suzuki and Nakatsuka asked, “How do we support emergency triage when medical resources, such as medical staff, are limited?” Their solution involves a blockchain emergency information transmission service that instantly shares patient information to the hospital before patient arrival, which can then be used for smoother emergency treatment diagnosis.
Maya Mind
Osaka University Assistant Professor Gajanan Revankar presented Maya Mind, a web platform accessible via smartphones, tablets, or personal computers that targets patients who suffer from dementia. Revankar noted that, during early onset of dementia, diagnosis is time consuming and costly, while accuracy is low. Maya Mind seeks to tackle all these challenges.
The app uses eye tracking, speech processing, artificial intelligence (AI)-based analytics, and machine learning algorithms to create an index score for classifying different kinds of dementia, among other provisions.
AI Assistant
Ajinkya Takawale and Tomoko Mitsuoka pitched a voice-controlled AI assistant with a focus on early diagnosis of chronic kidney disease (CKD) and diabetes. The challenge before Takawale and Mitsuoko included how to leverage digital technologies to make the elderly more aware of their health risks through early diagnosis. Their voice-controlled robot uses non-invasive methods such as retinal imaging to track, record, and analyze an elderly person’s healthcare data. Using the results, they provide a diagnosis and help the person plan their lifestyle based on the insights.
Toilet Light Sensor for CKD
Chisato Banno and Reiko Tsubaki, both third-year students at Tokyo Medical and Dental University, also pitched a digital solution for patients at risk of CKD. Their solution offers a low-cost yet accurate Internet of Things device that samples, analyzes, and visualizes a person’s real-time health data, helping them to diagnose the onset of CKD early.
Their first prototype will use toilet-based light sensors that can analyze urine. The data gathered can be visualized via a smartphone app, which also can share data with a relevant healthcare provider, such as a hospital.
Helper-san
An avatar bot that identifies and neutralizes triggers that cause aggression in dementia patients, Helper-san is a digital platform that was presented by students and researchers Shobha Dasari, Allison Jia, Kanon Mori, Aarushi Patil, and Tsubasa Tanabe.
The students and researchers are part of a collaboration involving universities in Japan and the United States brought about by the Japan-American Innovators of Medicine, a four-month program in which medical innovators from both countries join to tackle a global healthcare issue related to dementia, such as aggression.
Their bot, which is embedded in a small, television-like device, can track a patient’s behavior, identify aggression triggers, and defuse them. An example would be dimming or turning off a light source that has been identified as the trigger.
Parapul
A web app presented by Kasper Watanabe, Parapul helps caregivers obtain the information they need, build relationships with like-minded people, and support their caregiving lives.
As the portion of society classified as elderly increases, Watanabe noted, the physical, mental, and financial burden on family members will grow, and yet such caregivers often lack the information necessary to provide care.
The Parapul platform is based on three pillars:
- Providing customized information, such as nursing care, educational materials, or local service listings to family members who are caregivers
- Connecting caregivers so they can share their challenges on bulletin boards, question-and-answer boards, or via direct messaging
- Offering a caregiving management system that, for instance, allows users to schedule nursing care support
Mobile Health
Pitched by Jingwen Zhang and Nondo Jacob Sikazwe, Mobile Health (mHealth) is a community platform that allows those at risk of CKD to be inspired to connect and receive information that can help them manage the condition.
During their presentation, the ideators noted that there are few digital tools on the market to help patients prevent or manage CKD. Why is this? First, individuals at risk, or who have early onset, of CKD have no or only slight symptoms that cause them inconvenience in daily life.
What’s more, those with middle-to-low incomes often struggle with daily living, which leaves little time and few resources to access primary healthcare.
Lastly, current biomarkers used to screen for CKD are affected by many factors, so there is a need for regular checkups.
Their community platform solves these challenges by incentivizing elderly people and their caregivers in three key areas:
- Motivation: where you can collaborate with the local community and receive community rewards for positive lifestyle changes
- Connection: where you can communicate directly with a healthcare provider
- Education: participate in customized, immersive games, quizzes, audio guides, and more that shed light on the issues of CKD
Coupon Kun
The final pitch, by Zechen Zeng and Keita Tsuyuguchi, addressed loneliness among elderly, which has reached epidemic levels. Zechen and Tsuyuguchi’s solution is a social network being developed in four phases. Phase one is to create a “Groupon experience,” through coupons for groups, that incentivizes elderly individuals to experience new things—such as hobbies, lessons, or traveling—with new social connections.
In phase two, the platform aims to introduce digital literacy to the elderly, including adoption of smart devices, while they undertake the group experiences.
In phase three, apps are used to monitor, collect, and share the health data of users with healthcare professionals following strict data privacy and security protocols.
And in phase four, insights gleaned from healthcare data are used to help users follow a healthy lifestyle.
Winners
With so many innovative ideas to consider, selecting the winners was not easy for the panel of industry professionals tasked with judging the 2022 HxD Ideathon.
Pitches were scored based on scientific innovation, relevance and timeliness, business feasibility, and how well they addressed the core issue.
Three ideas were selected to advance to the HxD hackathon in 2023:
- Maya Mind
- Hi-Real System
- Toilet Light Sensor for CKD
One other, Kyocare, was given special recognition and will also be part of the hackathon.
Overall, 119 ideators, facilitators, and students participated in at least one day of the ideathon, and connections were made with more than 22 universities for future events.
Judges
Kozo Mori
Director, Medical Industry City, Medical and New Industry Division, Planning and Coordination Bureau, Kobe City Hall
Masayoshi Yamada
Deputy director, Department of Smart City Strategy, Strategy Promotion Office, Regional Strategy Promotion Division, Osaka Prefecture
Torsten Kanisch
Executive officer and vice president, commercial excellence, AstraZeneca K.K.
Christian Boettcher
Consulting partner, health sciences and wellness, EY Strategy & Consulting
Francisco Proano
Head of strategy and digital transformation, Bayer Yakuin
Yasuhiko Iida
Senior director, Consumer Experience Team and Next Generation Customer Engagement Strategy, Eli Lilly Japan
Hiroki Kayama
Strategic partnership development manager, AI for Japan, Google G.K.
A Culture of Inclusion
Shaping workplace culture and inclusion. Leading the change. These are the themes of the 2022 ACCJ-Kansai Diversity and Inclusion Summit, which will again follow the format of three two-hour online sessions, to be held over successive weeks in October and November.
Previewing this year’s ACCJ-Kansai Diversity and Inclusion Summit Series
Shaping workplace culture and inclusion. Leading the change. These are the themes of the 2022 ACCJ-Kansai Diversity and Inclusion Summit. Following the same format that debuted to great success in 2020, three two-hour online sessions will be held over successive weeks in October and November, each with its own keynote speaker, small-group discussions, and practical training.
The format was born of the pandemic, when organizers had to adapt the normally daylong program to a world of virtual interaction. It proved highly successful. The online format opened up access to people throughout Japan, and registrations rose from 224 for the previous year’s in-person event to 320. Similar results were repeated last year. Not only has accessibility been boosted, but the extended interactions also strengthened the summit’s impact and benefits.
With such success, the committee has decided to stick with the three-day series, and this year will host sessions on October 4 and 18, as well as November 8.
The first day will focus on gender diversity and equality, and will feature a training session with Jennifer Shinkai, an ikigai and inclusion facilitator and coach. The main session for the day will be led by Tetsuya Ando, founder of Fathering Japan, the non-profit organization he started in 2006 to focus on supporting fathers who are balancing the responsibilities of work and home.
The second day will feature a discussion of cultural diversity and inclusion with Nissan Corporate Vice President Catherine Perez, while Day 3 will explore psychological safety in sessions hosted by Google.
The series will be a wonderful opportunity to share personal and professional experiences in advancing D&I in Japan and abroad, including strategies that can be employed individually, at work, and in the community at large. Additional coverage can be found on the Digital Journal website following the sessions.
An Evening in the Windy City
Despite being virtual, the 2020 and 2021 galas brought great fundraising success. But there’s no substitute for the vibrant atmosphere of a live event. So, the ACCJ Charity Ball Committee, in partnership with the ACCJ-Kansai Community Service Committee, has been hard at work to bring the Charity Ball back, live and in person. On December 3, we’ll unplug from virtual space and step back to a more analog era as we gather at the Hilton Tokyo in Shinjuku to celebrate the Windy City itself: Chicago.
The ACCJ Charity Ball returns for an in-person celebration of Chicago
One of the most popular dates on the social calendar each year is in December. That’s when the American Chamber of Commerce in Japan (ACCJ) hosts the annual Charity Ball. Since the onset of the coronavirus pandemic in early 2020, the exciting gathering has been pushed online. But this year, the winds of change are blowing. On December 3, we’ll unplug from virtual space and step back to a more analog era as we gather at the Hilton Tokyo in Shinjuku to celebrate the Windy City itself: Chicago.
Despite being virtual, the 2020 and 2021 galas brought great fundraising success. But there’s no substitute for the vibrant atmosphere of a live event. So, the ACCJ Charity Ball Committee, in partnership with the ACCJ-Kansai Community Service Committee, has been hard at work to bring the Charity Ball back, live and in person.
The theme will offer attendees a chance to experience Chicago—from food to music to spirits. And don’t worry, there’s no prohibition here! We hope you’ll dress the part and bring back the chorus lines of Chicago or that Blues Brothers look made famous by John Belushi and Dan Akroyd.
Community Support
While the Charity Ball is great fun, and a chance to close out the year by celebrating with friends and networking with business associates, it’s also an important opportunity to raise money for the local community. As the chamber’s biggest fundraiser of the year, the Charity Ball supports the ACCJ Community Service Fund, which provides assistance to recipients for whom relatively small donations have a significant impact.
This year, the selected charities focus on at-risk children—including homes and programs for these children—as well as the homeless and citizen science.
These charities include:
- The Mike Makino Fund
- The ACCJ Community Service Fund
- YMCA/ACCJ Ohisama Camp
- YouMeWe
- Children’s Shelter Okinawa
- Safecast
- Kansai Food Bank
- Minna no Gohan
- Kurumu
You can learn more about these charities on the ACCJ website. Details about the entertainers, food and drink, and the ever-popular raffle will be added as we get closer to the event.
Sponsorships are also available and are a great way to highlight your business while making a real difference in the community.
We look forward to seeing you on the streets of Chicago and toasting the return of the in-person Charity Ball!
December 3, 2022
Hilton Tokyo, Shinjuku
Tickets and details: accj.or.jp/charityball
2022 DC Doorknock
ACCJ leaders made their first DC Doorknock visit to Washington since before the pandemic June 14–16. View a selection of photos from the event.
From left: ACCJ Executive Director Laura Younger, President Om Prakash, Chair Eriko Asai, and Governor Victor Osumi
American Chamber of Commerce in Japan (ACCJ) leaders made their first DC Doorknock visit to Washington since before the pandemic June 14–16. ACCJ President Om Prakash was joined by Chair Eriko Asai, Governor Victor Osumi, Special Advisor Christopher LaFleur, and Executive Director Laura Younger as they engaged face-to-face with members of the executive branch and Congress.
The annual DC Doorknock, which was canceled in 2020 and 2021 due to Covid-19, is an important part of the ACCJ’s dialogue with the US Government and is key to the chamber’s advocacy efforts. The delegation received a warm welcome from administration officials, members of the Senate and House of Representatives, the Embassy of Japan, the US Chamber of Commerce, and various think tanks.
“There’s energy and urgency in the US–Japan partnership on all fronts—from the economy to national security,” said Prakash, “[and] we are pleased and encouraged to see the United States leading in the region, and the heightened role Japan has taken on the world stage.”
Activist Investing in 2022
The Fourth Annual ACCJ Shareholder Forum brought together experts for a look at the state of activist investing in Japan and the realities of the Japanese market.
Fourth Annual ACCJ Shareholder Forum brings together experts from Japan and overseas for a look at the state of the market
Tokyo Stock Exchange President and CEO Hiromi Yamaji delivers the keynote.
Why should anyone care about activist investing in Japan?
This is the question posed by American Chamber of Commerce in Japan (ACCJ) Alternative Investment Committee Chair Frank Packard as he opened the Fourth Annual ACCJ Shareholder Forum on June 7 at Tokyo American Club. The event, which was also livestreamed to remote attendees, has become an important part of the annual general meeting (AGM) season.
Four speakers explored this through a wide-ranging look at the realities of the Japanese market, corporate governance, activist investing, stewardship, shareholder proposals, and more after the keynote was delivered by Hiromi Yamaji, president and chief executive officer of Tokyo Stock Exchange, Inc. (TSE) as well as director, representative officer, and group chief operating officer of Japan Exchange Group, Inc.
Presenting were:
- Nicholas Smith, strategist with CLSA
- Andrew McDermott, president of Mission Value Partners
- Tsuyoshi Maruki, president and CEO of Strategic Capital
- Seth Fischer, founder and chief investment officer at Oasis Management
Packard himself offered some thoughts during the introduction.
“The past 30 years in Japanese public equities provide an interesting lens for today,” he explained. “I want to make the case that we should pay attention because active engagement in Japan might actually be the best global investment strategy today.”
This was not always the case. After the bubble economy of the 1980s burst, activist investing in Japan during the 1990s was somewhat primitive, Packard said. “Some notorious examples, often American, featured activists making simple demands for immediate action to get quick financial return for themselves, not for the companies or other shareholders. To be clear, activism in Japan did not start with an attractive image. But it’s come a long way.”
Japan’s Financial Services Agency began providing useful frameworks with written regulations in 2014 to encourage corporate governance and investor stewardship. Today, Japan is the world’s second-biggest market for activism. “Activists are doing well by doing good,” he said. These days, you’ll find many other groups addressing important governance topics—diversity of board members, foreigners as directors, and talk about disclosure on environmental, social, and corporate governance topics.”
But, Packard noted, very few people are focusing on the other code—the stewardship code—and what are best practices for improving corporate value. “This absence, we believe, is an opportunity for the ACCJ.”
Is ESG Good?
One of the most frequently heard terms in discussions of investing these days is ESG. And while a focus on improving environmental, social, and corporate governance would appear to be good, there are some growing doubts about how to apply it in a decision-useful and commercial manner.
“In theory, [addressing] climate change is a noble goal. Increasing disclosure of environmental impact, as the TSE has recommended and the ACCJ has advocated, that’s very good, too. But in practice, investing in ESG assets has led to many cases of greenwashing,” Packard said, using the term that refers to making inflated, unsubstantiated, or even false claims about the environmentally friendly nature of a product or practice.
“We’re seeing a lack of agreement on ratings and benchmarks, and some concerns that ESG might actually be too blunt an instrument for financial services,” he explained. “Some of the leaders of financial firms are now saying that, maybe, it’s time to retire ESG and its application for investing.”
Lastly, Packard asked where activist investing fits into today’s financial markets, at a time when all asset classes fell in value for the first time in 30 years. That happened during the first quarter of this year. “This has been very confusing for investors trying to do the right thing. Where can investors go to embrace sustainability and responsible investments? Could the answer be to focus on active investment and active engagement?” he asked. “It’s not only an academic or ethical question, it might also be optimal strategy in the current financial markets.”
A Look at the Market
Next, Yamaji delivered the keynote and spoke about what he sees as very important changes in the Japanese market.
“In addition to the excitement generated by the lifting of Covid-19 restrictions, this also has been an exciting time for us at the TSE as [we] went through a major overhaul this past April, kicking off major changes in the Japanese capital market.”
The TSE revamped its grouping of shares for the first time since 1961, replacing its four-market structure with one comprising three: prime, standard, and growth. The top tier is home to blue chips that have met corporate governance requirements which are higher than those of the previous first section. More than 80 percent of the companies that were listed in the first section have shifted to the prime market.
“As shareholders and investors engage with these companies, Japanese companies are undertaking significant changes to their business growth strategies through realignment of their business portfolio and through their new approaches to corporate governance,” Yamaji added.
The presentation portion of the event covered:
- A vertical review of activism comparison over several years as well as a horizontal view of the different engagements within the AGM season, provided by CLSA’s Smith
- A look at stewardship, what it means, and how it applies to 2022 Japan, as well as additional thoughts on ESG, from Mission Value Partners’ McDermott, who joined online from Tennessee
- A fund manager’s perspective on activism and tools used for preparing shareholder proposals, offered by Strategic Capital’s Maruki
- A recap of some past shareholder proposals and a look at the power of engagement and the 2022 proxy season, presented by Oasis’s Fischer
Packard concluded the event by thanking everyone who made it possible, including the ACCJ programs and communications teams as well as his fellow Alternative Investment Committee leaders, Vice-Chairs Pieter Franken, Deborah Hayden, Jason Topaz, and Christopher Wells. It was a great cooperative success.
Watch The ACCJ Journal for additional extended coverage of the presentations, coming soon.
2021 Person of the Year Photo Gallery
On April 25, 2022, the American Chamber of Commerce in Japan (ACCJ) recognized Nobuyuki Hirano as the 2021 ACCJ Person of the Year for his leadership and substantial contributions to the US–Japan relationship. View a selection of photos from the event.
Photos by Miki Kawaguchi/LIFE.14
From left: ACCJ President Om Prakash, Nobuyuki Hirano, 2021 ACCJ President Jenifer Rogers, and ACCJ Financial Services Forum Chair Andrew Conrad
On April 25, 2022, the American Chamber of Commerce in Japan (ACCJ) recognized Nobuyuki Hirano as the 2021 ACCJ Person of the Year for his leadership and substantial contributions to the US–Japan relationship.
During a hybrid event held at Tokyo American Club and livestreamed to remote ACCJ members and guests, the former chair, president, and group chief executive officer of Mitsubishi UFJ Financial Group, Inc. (MUFG) spoke about his long career.
The event began with a VIP session where ACCJ leaders greeted Hirano, after which ACCJ Governor and Financial Services Forum Chair Andrew Conrad welcomed luncheon guests and provided background about the award. ACCJ President Om Prakash delivered remarks and welcomed Hirano to the podium.
In addition to his work at MUFG, Hirano served as chair of the Japan-U.S. Business Council from 2017 to 2021, working tirelessly to promote better US–Japan business ties and to further strengthen the international business environment in Japan.
Following Hirano’s presentation and a Q&A session, moderated by Conrad, 2021 ACCJ President Jenifer Rogers presented the certificate.
The ACCJ Person of the Year Award was created in 1996 to enable the chamber to recognize individuals for their outstanding contributions to business and commercial relations between Japan and the United States. Past recipients include: Fujio Cho, honorary chairman of Toyota Motor Corporation; Hiroshi Mikitani, CEO of Rakuten, Inc.; and Caroline Kennedy, the 30th US Ambassador to Japan.
ACCJ Meets Congressional Delegations
A visit by senators in April also offered a chance to welcome back former Ambassador Hagerty.
A visit by senators also offered a chance to welcome back former Ambassador Hagerty
From left: ACCJ Vice President Douglas Hymas, ACCJ Chair Eriko Asai, Senator Ben Cardin, Senator Bill Hagerty, ACCJ President Om Prakash, ACCJ Governor Mari Matthews, and ACCJ Vice President Amy Jackson
The American Chamber of Commerce in Japan (ACCJ) was honored to meet with two congressional delegations this month.
On April 13, ACCJ leaders met with Senator Ben Cardin and Senator Bill Hagerty to discuss economic security and strengthening the US–Japan economic partnership.
This being the first opportunity to meet since the start of the pandemic, ACCJ President Om Prakash presented former US Ambassador to Japan Hagerty with the 2019 Person of the Year Award for his many contributions to the US business community in Japan during his tenure as ambassador and ACCJ honorary president from 2017 to 2019. Senator Hagerty was also a member of the ACCJ prior to serving as ambassador.
On April 16, the ACCJ met with Senator Lindsey Graham, Senator Robert Portman, Senator Richard Burr, and Representative Ronny Jackson to reaffirm the importance of strengthening the US–Japan business relationship and deepening our engagements in the Indo–Pacific region.
We look forward to working with the senators and US government leaders during future DC Doorknocks.
Photo 1: (from left) ACCJ Executive Director Laura Younger, Representative Ronny Jackson, ACCJ Chair Eriko Asai, Senator Richard Burr, Senator Robert Portman, ACCJ President Om Prakash, Senator Lindsey Graham | Photo 2: ACCJ President Om Prakash present former US Ambassador to Japan Bill Hagerty with the 2019 ACCJ Person of the Year Award, a moment long delayed by the pandemic.