Tax and Trends
Yamada & Partners can help non-Japanese better understand how their assets are taxed and assist them in reducing their tax liability while accurately reporting income and assets.
CO2 Punch!
Globally, 14 percent of greenhouse gas emissions originate from the transportation sector—and that jumps to 27 percent in the United States. Cars aren’t the only culprits. The aviation industry is also concerned about its share of carbon dioxide (CO2) going into the atmosphere. On our way to a sustainable, carbon-neutral future, bypassing such pollution is a must. The ACCJ Journal spoke with companies in the automotive and aerospace sectors to take the pulse of transportation and find out where future journeys might take us.
Individual Matters
Offices in Japan have seen a revolution over the past two years or so, with the pandemic having ushered in the need for remote work. as living with Covid-19 has become standard, many businesses have back-pedaled or adapted their approach as they navigate a return to the office. Others have come to see the new normal as an opportunity to reflect on where, when, and how employees work, to foster greater productivity, and expand their diversity, equity, and inclusion efforts.
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.
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.
Dynamic Times
The past few months have been an incredibly dynamic time for Japan and the chamber, as we have continued to be very active in its engagement with the US and Japanese governments through meetings with congressional delegates. Japan laid former Prime Minister Shinzo Abe to rest, and Prime Minister Fumio Kishida announced on September 22 that Japan will fully reopen on October 11.
Japan’s Energy Alignment Goals
For several decades, Japan has executed a successful strategy of importing its energy via long-term contracts and relationships. Meanwhile, renewable electricity supply has expanded greatly under the feed-in-tariff and feed-in-premium systems, known as FIT and FIP. But current circumstances pose a challenge that necessitates a new approach.
Who Will Buy Japan?
Currency markets move in the direction of maximum pain. Now that yen depreciation is accelerating toward my ¥150–160 to the dollar parabolic overshoot target, outlined in the spring 2022 issue of The ACCJ Journal, it is worth thinking about where the maximum pain threshold might be, and what forces will arrest the yen’s fall from grace. Who will buy Japan?
The S in Sustainability
ESG has become another fixed feature of a company’s operating landscape. As such, it requires increasingly specific rules and requirements. So far, the ESG agenda has primarily focused on the E, as companies tackle climate change, largely by reducing emissions and carbon footprints. However, the spotlight is also moving to the S, which includes the social impact of our value chains.
Do Androids Dream of Electric Sheep?
AI is beginning to create content that is sparking questions about ownership. For some time, companies have been using AI-powered tools to give computers the task of writing articles, social media posts, and web copy. Now, AI-powered image-generation engines, such as Stable Diffusion, Midjourney, and the Deep Dream Generator, have hit the mainstream. One day, might DEI be extended to machines?
Bridge the Gap
Tamao Sasada, Japan country executive for Bank of America and president of BofA Securities Japan, sits down with The ACCJ Journal to share her thoughts on a number of topics, including how Japan can push the DEI and ESG agendas forward.
From Mist to Medals
Just over an hour by train from Shinjuku, the Godo area of Isehara, Kanagawa Prefecture, lives up to its name, which means “gate of the gods.” The mists rising from nearby Sagami Bay often shroud the peak in mysterious clouds, leading to the nickname Afuri-yama (Mount Rainfall). And tucked away in the lush foothills is Kikkawa Jozo, a century-old sake brewery that is gaining international acclaim.
Plants and Trees
A stone monument, two or three feet tall, with a simple inscription stood before me. It read: “plants and trees.” Somokuto, as they are known in Japanese, are monuments concentrated mainly in Okitama, a region in southern Yamagata Prefecture in Tohoku, the northern part of Japan’s main island of Honshu. Adam Fulford shares more.
In a Class of Its Own
In the nearly 160 years since it was founded in the English county of Worcestershire, Malvern College has become synonymous with the very highest levels of education and renowned for producing prime ministers, Nobel laureates, noted authors, and even an Olympic gold medalist. Now, to complement its international campuses in Egypt, Switzerland, and China, the college is to open a state-of-the-art Tokyo school in September 2023.
Executive Upgrade
The need for good leadership has never been more pronounced. It impacts hiring, retention, employee engagement, and productivity. And its importance in landing complicated organizational shifts through successful change management is highly visible in the market right now. Half Managing Directors for Robert Half’s Executive Search in Japan Nick Scheele and Andrew Sipus share how to find the right leaders.
Home-Grown Unicorns
There are 488 unicorns in the United States and 170 in China. Japan is home to just 11. The Ministry of Economy, Trade and Industry (METI) is on a mission to narrow this gap. In June, Japan’s Cabinet Office approved the Grand Design and Action Plan for a New Form of Capitalism: Investing in People, Technology, and Startups. The plan includes the formulation of a five-year roadmap for nurturing Japan’s startup ecosystem.
Deepening Africa–Japan Business Ties
While the number of Japanese companies active in Africa has doubled over the past decade to more than 900, Japan continues to lag the European Union, the United States, China, and India. The Ministry of Economy Trade and Industry (METI) is focused on encouraging Japanese businesses to support sustainable growth in Africa through projects that address vital social needs, leverage digital transformation, provide technical skills training, and boost renewable power generation.
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.
Changed Reality
When Rahm Emanuel arrived in January as the 31st US ambassador to Japan, he wasted no time in building new connections and strengthening existing ties between the two countries. His experiences as mayor of Chicago, President Barack Obama’s chief of staff, a member of the US House of Representatives, and senior advisor to President Bill Clinton coalesce into a whirlwind of diplomatic energy. On May 16, Emanuel took time out from this fast-paced schedule to speak to members and guests of the American Chamber of Commerce in Japan (ACCJ).
Final Frontier
Cooperation between the United States and Japan in the space industry is growing stronger and represents a great pathway for innovation in the bilateral relationship. A significant player in the space travel industry in Japan is the Space Port Japan Association (SPJ), which was established in 2018 and is attracting considerable attention on both sides of the Pacific. SPJ co-founder and Representative Director Naoko Yamazaki joined members of the American Chamber of Commerce in Japan (ACCJ) on April 21 for an hour-long online discussion.