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Execs abandon Japan for greener business pastures
Asahi Shimbun ^ | 06/26/2013 | Yasayuki Nishii

Posted on 06/25/2013 6:48:34 PM PDT by TexGrill

SINGAPORE--Hiroshi Suzuki is one of a handful of Japanese executives who have given up on Japan as a base to conduct global business operations and opted for a more cosmopolitan setting.

Suzuki is president of optical lens and eyeglass maker Hoya Corp., which is listed on the Tokyo Stock Exchange’s First Section and headquartered in the capital’s Shinjuku Ward.

Yet, he moved a major part of his business to Singapore, figuring that access to on-the-ground information and other opportunities would enable him to better steer the company.

For the past year and a half, Suzuki has spent more than half of any month in Singapore.

“What a president should do is develop a strategy on how to allocate funds and personnel to businesses with higher growth potential,” he said. “I have better access to information required for such responsibility outside Japan.”

Suzuki, 54, has a long-term contract on a residential floor of an exclusive resort hotel on Sentosa Island and commutes to his office in the business district in central Singapore.

Suzuki returns to Japan mainly for Hoya’s 10 board meetings a year. He consults with representatives of company divisions once a month, either at a meeting outside Japan or through a teleconference.

“From our factories and workers to our customers and rivals, everyone is based outside Japan,” Suzuki said. “I considered relocating our headquarters abroad, but I decided that I would go out first.”

(Excerpt) Read more at ajw.asahi.com ...


TOPICS: Business/Economy; Foreign Affairs; Japan; News/Current Events
KEYWORDS: japaneconomy
Global business tip
1 posted on 06/25/2013 6:48:34 PM PDT by TexGrill
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