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What Does "Restructuring" Mean in Japan and How Far Has It Progressed?
(From Journal of Japanese Trade & Industry (JJTI))
Byline: Bradley Richardson
Restructuring is a word often heard in Japan these days. In politics "restructuring" often refers to Prime Minister Koizumi Junichiro's policies to privatize off-budget public programs. But in the economic field, "restructuring" is frequently used vaguely. Economists and government officials often point to a need for greater restructuring without saying exactly what it is. Nevertheless, close attention to actions taken by specific Japanese companies and industries over the past decade shows clearly that restructuring has been going on in many companies. Furthermore, many ...
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