News & Highlights

  • JUNE 2025
  • MBA Admissions

HBS MBA Information Session in Tokyo

On June 28, the HBS Japan Research Center hosted an in-person MBA information session in Tokyo, featuring Dana Fernandez, Director of MBA Admissions, in collaboration with the HBS Club of Japan, an alumni association. The event drew over 50 prospective applicants who had the rare opportunity to hear directly from Ms. Fernandez and engage with a panel of local alumni. The session offered valuable insights into the HBS MBA experience and provided a meaningful platform for attendees to connect with alumni and fellow candidates.
  • JUNE 2025
  • Alumni Event

Faculty Talk by Professor Debora L. Spar

On June 10, the HBS Japan Research Center and the HBS Club of Japan welcomed Professor Debora Spar to the International House of Japan for a thought-provoking faculty talk attended by about 50 alumni and guests. In her talk, titled "Love in the Time of AI: How to Be Human in a World of Machines," Professor Spar discussed how emerging technologies are reshaping not just the workplace but also deeply personal aspects of our lives. She introduced her research on “Sacred Goods”—fundamental human values like love, family, and community—and reflected on how these might evolve or become more vulnerable in the age of artificial intelligence. The event concluded with an engaging Q&A session.
  • January 2025
  • Immersive Field Course

The Global Classroom: Student Immersion in Japan

The Japan Immersive Field Course (IFC) was launched in 2012 in response to the Great East Japan Earthquake of March 11, 2011. Over the years, the program has evolved alongside the progress of reconstruction efforts in the disaster-affected areas. While the main program is now held in Tokyo, the group continues to visit the Tohoku region on weekends to maintain a meaningful connection with the area. This year, Professor Ramon Casadesus-Masanell led 43 students to Japan for the 12th Japan IFC, a 10-day immersive experience themed “Exploring Japan's Innovation Ecosystem.” During their time in Japan, the students participated in team-based consulting projects and attended a venture capital panel session in Tokyo. In Tohoku, they met local social entrepreneurs, engaged with the Mayor of Onagawa, and visited Tohoku University to connect with deep-tech companies and explore cutting-edge innovations. Beyond these academic and professional activities, the students also experienced both traditional and modern Japanese culture through various immersive activities. The program provided an enjoyable and rewarding experience, fostering a deeper understanding of Japan's innovation landscape and cultural richness.
  • OCTOBER 2024
  • EVENT

HBS MBA Information Session in Tokyo

On October 5, the HBS Japan Research Center hosted an engaging in-person MBA information session for prospective applicants, in collaboration with the MBA Admissions Office. The event welcomed over 100 attendees, offering them the unique opportunity to gain insights directly from a panel of local alumni. The panelists shared their experiences about the transformative MBA program, life at HBS, and the financial aid resources available to students. The session served as an invaluable platform for attendees to explore the possibilities of an HBS MBA and connect with both alumni and fellow prospective applicants.

New Research on the Region

  • Fall 2025
  • Article
  • Journal of Economic Perspectives

Japan's Debt Puzzle: Sovereign Wealth Fund from Borrowed Money

By: Yili Chien, Wenxin Du and Hanno Lustig

We analyze the risks associated with Japan's prolonged low-interest rate policies amid a global environment of rising rates. To finance its persistent deficits, the Japanese public sector depends on inexpensive domestic funding to invest in risky assets both domestically and internationally, effectively creating a sovereign wealth fund fueled by borrowed money. Ultimately, these risks fall on Japanese bondholders, depositors, and taxpayers. While the United States faces similar fiscal pressures, it is unlikely to adopt Japan's approach.

  • October 2025
  • Case

Innovation at Ibanez: The Signature Strategy

By: Carolyn Fu, Gabriel Szulanski, Kate Stoppiello and Stacy Straaberg

In early 2025, Mike Orrigo, Ibanez Artist Relations Manager, prepared to pitch rising guitarist Nili Brosh as the guitar brand’s next “signature artist” to the parent company Hoshino Gakki in Japan. Ibanez, renowned for innovative “signature guitars” developed in close collaboration with popular musicians, had to decide whether to take a bet on the unique features Brosh would bring to her signature guitar. Ibanez had traditionally relied on artists’ insights to push the frontier of how guitars could look, sound, and feel. However, the success of a guitar depended not only on the instrument itself, but the artists’ ability to demonstrate and inspire consumers with how it could be used. While Brosh was respected in the U.S., she was still building her international reach. The changing industry context also raised bigger strategic questions for the firm. Since the pandemic, a surge of new women players was reshaping demand, with social media lowering the barriers to entry; yet improving music software signaled a reduced reliance on instruments in the future, and industry leaders Fender and Gibson had begun expanding into adjacent ventures. Should Ibanez bet on the direction that Brosh could take the company in, or reconsider their signature guitar strategy altogether in a changing industry?

  • October 2025
  • Case

Unidentified Industries: Japan 2024

By: Benjamin C. Esty and Edward A. Meyer

This exercise helps students understand how a company’s business characteristics are reflected in its financial statements. Students are given balance sheet data in percentage form (common-size balance sheets) and financial ratios (e.g., gross margins, days of inventory, etc.) for a set of 12 unidentified companies from 12 different industries. All 12 companies were listed on the Tokyo Stock Exchange (TSE) as of March 31, 2025, and had market values greater than ¥150 billion. Students must use the balance sheet data and the financial ratios along with their basic knowledge of the operating characteristics of these different businesses to match each company to the correct industry.

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Tokyo Staff

Nobuo Sato
Executive Director
Akiko Kanno
Associate Director
Akiko Saito
Senior Researcher
Yukari Takizawa
Office Manager