Are you a Japan-based entrepreneur, or planning to set up shop in The Land of the Rising Sun? Then pull up a chair and lend an ear. The Japanese market is a tough market to break into. But with sufficient preparation, you can succeed where others have failed. How might you fail? Well, you could do that by:   JUMPING IN BLIND You’re spending both time and money opening up a new business in a new market. If you want to reach your goals, you need to think things through, and create an efficient game plan. Track ROI metrics. Set a timeline. Make sure you’re on track as you progress….

You’re confident in your market potential in Japan, you say. But, the fact remains that you need to do your research to find the best method of penetrating that market. We’re going to cover some general points you’ll need to consider when breaking into the market in Japan.   1. Know the Language, Know the Culture According to a study in the CIA Factbook, 99% of the 125 million people living in Japan speaking Japanese exclusively. You need to have a translator on your team. Someone who has a deep, working knowledge of both cultural and consumer trends. You will also need to employ customer service staff that speaks Japanese…

Japan is the third largest economy in the world, and the value placed on imported goods is quite high. A study has shown that 19% of Japan’s total GDP comes from the importation of goods and services. As such, Japan is seen by many countries across the globe as a premium market for their goods and services. However, to take advantage of that market, you need specific international business knowledge, since strict regulations could stop you before you start. Selling in Japan can be challenging. Aside from the language and culture differences, there are a number of complex factors to consider when navigating market entry. For this reason, you’ll need…

Some Australian companies strongly believe in the use of agents or distributors to represent their business and sell their product in Japan. The roles of an agent versus that of a distributor can get confused. But, it is vital to be able to distinguish the differences and uses of each.   Find an Agent in Japan An agent can act as a representative of the provider, but doesn’t personally take on any product. Agents are usually paid a commission based on an agreed portion of the sales generated. A Japanese agent might represent multiple services or product lines. They could operate on a basis of exclusivity, acting as the sole…

Japanese electronics and appliances are popular overseas for being incredibly efficient and high in quality. Japanese electronics retail stores have become increasingly common shopping destinations for foreign travelers due to their plentiful and varied product lineups, quality level, and smart service. From major to minor, below are 8 such locations. 1. Yodobashi Camera Yodobashi Camera is best known for providing an excellent and wide variety of electronic products, and for its knowledgeable employees. This store provides “functionality lists” that are useful when comparing different products. You can easily rank products using the given data, which is very useful when you are overwhelmed by the options. It’s also worth noting that…

The Great Japanese Market As attractiveness of doing business in Japan, 86.4% of the companies answered “Japanese market” followed by “well-developed infrastructure (transportation, logistics, ICT, energy, etc.)” at 79.6%, “high-quality of R&D” at 69.8% and “existence of good partners, companies or universities with outstanding technologies or products” at 69.6% Resource: https://www.jetro.go.jp/ext_images/en/invest/reports/report2006/pdf/report2016_4.pdf   Tokyo– A Huge Market and A Comfortable Business Environment With a population exceeding 13 million people, Tokyo is a world-leading megalopolis. Its population far exceeds other major global metropolitan areas, like New York and London. The gross metropolitan product of this city is valued at $930 billion. Tokyo contains 2,964 major companies that each have capital of ¥1 billion…

Investors around the world are always eager to do business in the Japanese market. This, of course, stems from the fertile economic environment and the flourishing opportunities foreign investors can find. With good SWOT (Strength, Weakness, Opportunity, Threat) analysis before entering, your success rate in the Japanese market is very high. However, there are unavoidable challenges waiting for any company looking to enter the Japanese market. Without the right creative and innovative team to guide them through these challenges, a company may be forced to abandon its operation. Let’s take a look at some of these challenges and how to handle them. Japan Specific Standards and Testing Requirements This is…