PwC: Areas for Change Identified

By Rob Starr, Content Manager, Big4.com

Corporate leaders in Japan are starting to realise they need to address key global realities in order to take best advantage of their growth prospects in Asia and around the world. That was the message Dennis M. Nally, chairman of PricewaterhouseCoopers International Ltd., today told a group of business leaders in that country as he disclosed the findings of a report by PwC that presents a prescription for growth at Japanese companies based on insights from 60 in-depth interviews with senior Japanese business and political leaders, academics and specialists.

The report, ‘Revitalizing Corporate Japan: A Prescription for Growth,’ identifies four global realities confronting the future of Japanese companies. They are:

• The arrival of strong Asian competitors and a new middle class of consumers in Asia.
• Increasing business complexity and market connectivity.
• New models of innovation based on diverse ideas.
• An ageing economic metabolism.

Hiroyuki Suzuki, Territory Senior Partner for PwC Japan commented:

“We know that change can be difficult. After speaking with Japanese CEOs over the past year, we believe that many business leaders are already aware of the degree of change required,” he said.  “PwC has been doing business in Japan for over 80 years and our people work very closely together to support the growth of Japan’s great companies. We remain committed to helping Japanese businesses take the necessary steps to pivot, adapt and grow in an extraordinary complex and fast-paced international environment.”