Thinking of doing business in Japan, what comes to mind for most people (I hope) is that it takes time, where relationships are important but hindered by a different language and culture. The opportunities are there, but as a business you need to put in a lot of effort.
Japan doesn’t attract a lot of attention anymore as a potential new market for Dutch companies. Overshadowed by other countries in the region with much more impressive economic growth rates. Yet, Japan is still the third economy in the world, which should offer plenty of potential.
So, in a way it shouldn’t have come as a surprise when I found the announcement of an FD & Deutsche Bank hosted event focusing on business opportunities in Japan – and Vietnam – which took place yesterday: Crossing Continents. I’ll focus on the Japan part below, as that is of course what I know best.
There aren’t many events focusing on business in Japan, and happily the room was full of an attentive audience. But: when asked who of the audience had already been in business in either Japan or Vietnam only a handful of people raised their hands. So: who was in the room?
Possibly because of this, or because the format of the afternoon didn’t leave much room for questions from the floor (which were limited to the last 10 minutes), it felt a little like Doing Business in Japan for beginners. But again, maybe this was the right audience for that – I’m not sure how many people in the room have a long acquaintance with Japan. I felt it was also hard, especially at the beginning, to translate economic (Abenomics) and political developments to the practical consequences for business (wo)men.
I liked that the afternoon highlighted some interesting developments: retail in Japan, opportunities for horticulture and connected suppliers in the tsunami-struck region of Tohoku, how trade missions work etc. (In fact, a recent horticultural trade mission to Sendai is profiled here, good to watch!) But then it also seemed to lack answers to concrete questions such as: where do I begin if I want to find an importer for our special brew beer?
Which reminded me: I need to get my post up and online about what type of support is out there for Dutch/European companies interested in entering the Japanese market. To be posted soon!