2009

Nippon Steel Corporation

Japan's largest steel producer faces challenges in pursuing strategy to become a true global player. Nippon Steel had long been a leading Japanese company, however the emergence of a global player, Arcelor-Mittal, prompted globalization of the steel industry. The company feels an urgent need to also globalize its operations by not just increasing overseas production but also making necessary changes to the company structure.

Consumer Lending in Japan: Citi CFJ (A) & (B)

Despite a tradition of high household savings, Japan has supported a dynamic and technically sophisticated consumer lending sector. The high profitability of the sector has periodically attracted interest from domestic banks as well as international investors. Most recently, in 1998 and 2000 respectively, GE Capital and Citi Financial both acquired Japanese consumer lending companies. In 2006, when the Japanese Supreme Court ruled that one of the leading Japanese consumer lenders must repay a borrower for "excess interest payments," this led to a surge in interest repayment claims against consumer loan companies. Citi CFJ (Citi Financial's Japanese subsidiary) must decide how to respond.

Yoshiko Shinohara and Tempstaff

Professor Tony Mayo (Organizational Behavior) developed a case on Yoshiko Shinohara, founder and CEO of a leading temporary staffing agency, and the only Japanese woman to be on Fortune's list of the "50 Most Powerful Women in Business - International" for nine consecutive years. Shinohara founded and grew Tempstaff despite the extremely challenging environment against working women in Japan. The case explores how she overcame those challenges and grew as a leader.

TOTO: The Bottom Line

TOTO, the leading manufacturer of toilets in Japan, is struggling to penetrate the U.S. market with its premier bidet-toilets, which are present in 63% of homes in Japan. The case examines the behavioral, cultural, and institutional barriers that TOTO faces in gaining adoption of an innovation. It also explores the role of product categorization in driving consumer behavior-in contrast to the U.S., toilets in Japan are considered a high-tech consumer electronic device. Finally, the role of organizational identity and culture is examined. The creation of the bidet-toilet category in Japan was a defining accomplishment for TOTO, and this history has created a strong commitment to promoting it in the U.S. But given that TOTO has been highly successful selling regular high-end toilets in the U.S., is this commitment to the bidet-toilet appropriate?

Yataro Iwasaki: Founding Mitsubishi (A)

Considers the entrepreneurial career of the founder of Mitsubishi, Yataro Iwasaki, who built a large shipping company against the opposition of powerful Western incumbents. Although sometimes supported by the Japanese government, and often times opposed, the case identifies Iwasaki's entrepreneurial talent and organization-building skills as key drivers of success. This case provides a vehicle for examining the entrepreneurial factors behind Japan's remarkable transition from a feudal to a modern society in the second half of the nineteenth century.

Yataro Iwasaki: Founding Mitsubishi (B)

This brief (B) case documents the fate of Mitsubishi and the shipping company NYK after the death of Yataro Iwasaki in 1885. The case supplements case 808-158, "Yataro Iwaski: Founding Mitsubishi (A)."

Aderans

Steel Partners is a U.S.-based hedge fund that has made a large investment in Japan-based wigmaker Aderans. The case is set at the close of the annual meeting in May 2008, when shareholders have voted against all incumbent board members. Steel Partners must act quickly. The case serves as an overview of corporate governance issues in Japan, as well as describing the costs and benefits of the "stakeholder" view of corporate governance.

Kinyuseisaku: Monetary Policy in Japan (B)

Toshihiko Fukui, who works for the Government of the Bank of Japan, faced a complex situation in the fall of 2007. An economic recovery had allowed the central bank to abandon its zero interest rate policy, which had been in place for years, and raise rates to 0.5%. The Bank of Japan was eager to increase them to more "normal" levels to exert effective monetary policy. Yet the appropriate timing and approach was a controversial issue, especially as the government did not want a rate hike that could potentially hinder economic growth and increase its already large fiscal debt burden.

HOYA

In 2007, HOYA of Japan must decide whether to change its friendly offer for Pentax into a hostile cash tender offer. A surprising sequence of events had caused a friendly merger agreement to fall apart, resulting in a boardroom coup at Pentax and the intervention of the Sparx Group, an indigenous activist Japanese hedge fund. The case raises issues about corporate valuation, corporate governance, shareholder activism, takeover deal tactics, and the Japanese market for corporate control.

The Dojima Rice Market and the Origins of Futures Trading

In 1730, Japanese merchants petitioned shogun Tokugawa Yoshimune to officially authorize trade in rice futures at the Dojima Exchange, the world's first organized (but unsanctioned) futures market. For many years, the Japanese government had prohibited the trade of futures bills because it was widely regarded as a form of gambling that caused rice prices to rise. However, when the price of rice fell to record lows in the late 1720s, the samurai (whose income was tied to the value of rice) saw their economic position fall relative to the merchant class, whose growing economic power worried the nation's elites. The shogun responded by easing restrictions on futures trading, but without officially sanctioning a futures market at Dojima. The question now was whether he should heed the merchants' petition and take the next step.

mixi

Kasahara, the founder and CEO of mixi, the most successful Japanese on-line social network, is deciding between two strategic options: (i) B2C or (ii) C2C, to leverage the power of the social network. In the B2C option, mixi would become a portal for on-line shopping for both digital content and tangible goods and charge the business sellers a fee. In the C2C option, mixi would facilitate exchanges between mixi's members through on-line flea markets or auctions and charge the members for successful transactions. In choosing between the two options he has to consider other upstart networks, particularly in the field of mobile social networking.

Consumer Payment Systems - Japan

In 2008, the Japanese consumer payments landscape featured ongoing widespread use of cash, limited use of credit cards and rapid rise of e-money systems based on contactless technology embedded in cards and especially mobile phones. The case details the alliances that created new products, as well as the regulations that sometimes stood in the way. Throughout, the case identifies incentives for both consumers and merchants, including direct costs, efficiency benefits, rebates, and treatment in case of loss or fraud.

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2008

The Restructuring of Daiei

Professor Rick Ruback (Finance) developed a case focusing on the efforts of the Industrial Revitalization Corporation of Japan (IRCJ), the government affiliated private equity fund, to restructure Daiei, the largest supermarket chain which had been virtually insolvent. The case discusses the institutional characteristics of the Japanese financial system (such as the role of the main bank) and how IRCJ fulfilled its unique role.

The Globalization of East Asian Pop Music

Professor Jordan Siegel (Strategy) developed a case on the Asian pop music industry, focusing on Japanese and Korean companies' efforts to export their singers outside their home countries. The case examines why certain markets are more profitable than others. It also allows for comparison of global strategy (with a focus on the U.S. and European markets) and regional strategy (with focus on East Asia).

Terumo

Professor Misiek Piskorski (Strategy) developed a case on Mixi, Japan's largest social networking service (SNS) firm, founded in 1997 by Kenji Kasahara, then a 22-year-old student. The case explores how mixi developed its services to meet the characteristics of Japanese culture and communication style. In the summer of 2007, having achieved a stellar growth during the past few years and acquiring over 10 million subscribers, Kasahara began to consider strategic options to grow his company even further.

Carlyle Japan

David Godes (Marketing) developed a case on Carlyle Japan, the Japanese operations of a major U.S. private equity firm. Carlyle Japan had been successful by leveraging the network of main banks which provided access to proprietary information. But finding attractive new investments were becoming increasingly difficult, after Carlyle Japan raised its second fund which was far larger than its first one.

Sony Digital Entertainment

Anita Elberse (Marketing) wrote a case on Sony Digital Entertainment focusing on its efforts to develop storytelling content on keitai (cellular phones). The case begins with discussions on how Japanese young generation began to write and read novels on keitai. It then describes the challenge of Sony Digital Entertainment to develop a sustainable business model based on the emerging contents.

Terumo

David Godes (Marketing) developed a case on Terumo, a major medical device company in Japan. Facing fierce competition from global players and profound changes in the Japanese medical system, the head of cardio and vascular business had to improve the marketing of Solution Pack, a strategic, new product for Terumo. He also had to decide whether to start direct sales in the U.S. market.

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2007

Kazuo Inamori: Japanese Entrepreneur

Tony Mayo (Organizational Behavior) developed a case on Kazuo Inamori, who founded two Fortune 500 companies, Kyocera and DDI (now KDDI). The case discusses Inamori's endeavor to found and grow Kyocera in an environment which was not conducive to small ventures as well as his challenge to build a new telecommunication carrier competing against NTT. It explores how Inamori's leadership was influenced by the contextual factors.

Roppongi Hills: City Within a City

Anita Elberse (Marketing) and Andrei Hagiu (Strategy) developed a case on Roppongi Hills, a 12-hectar complex in Tokyo consisting of offices, residences, retail shops and restaurants, movie theatres, a hotel, and a museum, developed by Mori Building, a leading real estate developer in Japan. It's CEO, Minoru Mori, is pondering the future of the art museum, which has been consistently losing money.

Secom: Managing Information Security in a Risky World

Professors Rob Austin (Technology and Operations Management) and Warren McFarlan (General Management) have developed a case on Secom, Japan's largest security service provider. The case focuses on Mamoru Sekine, CEO of Jashopper, (an electronic commerce site), as he analyzes a proposal from Secom and considers how he might establish a security strategy for his fledgling IT venture. The case examines the recent change in the Japanese business environment where increased sensitivity to IT security is required of corporate executives due to the Japanese government's enactment of the Personal Information Protection Law.

Production I.G: Challenging the Status Quo

Professors Andrei Hagiu (Strategy), Felix Oberholzer (Strategy) and Tarun Khanna (Strategy) studied Japanese animation industry, focusing on the following question: "Why there is no equivalent of Disney in spite of competitiveness of Japanese animation industry?" The case focuses on the challenges facing Production I.G, an animation production company which produced Ghost in the Shell and other excellent works, and its CEO Mitsuhisa Ishikawa.

Fujifilm: A Second Foundation

Professors Mary Tripsas (Entrepreneurial Management) and Giovanni Gavetti (Strategy) developed a case on Fujifilm. Sales of its core product, color films, which contributed 70% of its profits in 2000, dropped by over 20% each year due to shift to digital cameras. In response to the change in its environment, its CEO, Shigetaka Komori, launched various initiatives to undertake "the second foundation" of the company. The case focuses on those initiatives and the challenges he faced in changing the organizational culture and employees' mindset.

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2006

Information Technology and Innovation at Shinsei Bank

Professor Tom DeLong (Organizational Behavior) developed a case on the challenge faced by Shinsei Bank to integrate diverse cultures and manage the organizational change. Its CEO, Thierry Porte (MBA1982), appointed Tom Pederson as Chief Learning Officer to spearhead this initiative. The case examines the challenges Tom Pederson faces in using performance evaluation program as a measure to influence the culture of the bank.

Shinsei Bank: Developing an Integrated Firm

Professor Tom De Long (Organizational Behavior) developed a case on Shinsei Bank's challenge in integrating diverse cultures and managing the organizational change. Its CEO, Thierry Porte (MBA 1982) appointed Tom Pederson as Chief Learning Officer to spearhead this initiative. The case examines the challenges Tom Pederson faces in using performance evaluation program as a measure to influence the culture of the bank.

Takashimaya in Transition

Professor Rajiv Lal (Marketing) developed a case on Takashimaya, Japan's largest department store. President Suzuki, who took the helm in March 2003, had succeeded in cutting costs to improve profits. But now he had to develop a firm plan to increase sales, especially sales in apparel which accounted for 36% its revenue.

Livedoor

Professor Robin Greenwood (Finance) developed a case on Livedoor, a small internet venture run by 32-year-old CEO, Takafumi Horie, focusing on its attempt to gain control over Fuji Television, Japan's top-grossing television network. In early 2005, Hisashi Hieda, Fuji Television's President, found himself in a difficult position and considered several options.

Chrysanthemum and Dragon: JAFCO Asia in China

Professor Rawi Abdelal (BGIE) developed a case on JAFCO, the largest venture capital in Japan, focusing on its investment activities in China. The case discusses how the macro-economic and political environment influenced JAFCO's investment in China and its strategy. The case was used in a second-year elective course named Managing International Trade and Investment.

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