Global Operations Managed by Japanese and in Japanese

Abstract

Export occupied a central position in the international business strategy of Japanese companies until 1985. The export ratio (rate of exports to sales) of Japanese manufacturing companies listed on the first section of Tokyo Stock Exchange Market consistently increased, with 8 per cent in 1970 to peak at 15 per cent in 1985.¹ In September 1985 the Plaza Accord was reached, and the sharp appreciation of Japanese yen started. From 1986 the export ratio decreased for several years, and has not shown any substantial change since then.