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One of the things that really sets them apart is Keiretsu[1]. Seemingly competing firms often work together for their common benefit in the name of Keiretsu. It
by SEJeff 6y ago
One of the things that really sets them apart is Keiretsu[1]. Seemingly competing firms often work together for their common benefit in the name of Keiretsu. It is very "foreign" and strange from a US cultural standpoint, but it is also why so many Japanese companies last as long as they do.
[1] https://en.wikipedia.org/wiki/Keiretsu https://en.wikipedia.org/wiki/Keiretsu
- Danieru 6y agoIt is important to note that the Keiretsu are split vertically, no two companies within a keiretsu should be direct competitors. At least such was the case. A major counter example is Mitsui and Sumitomo. The Mitsui and Sumitomo banks merged, which triggered partial merges of other Keiretsu companies: except the real estate. Mitsui Real Estate and Sumitomo Real Estate still operate as competitors. Both developing new housing complexes and office towers.