Catalysts to achieve success in Japanese market
ONE of the catalysts in achieving success in the Japanese market is to find the right business partner who can help you navigate in the country.
According to Jusinkai Club Co Ltd President Takehiko Otani, who has decades of experience in joint venture business, one must first assess what is important before he can venture into the Japanese market.
He said one of the most important things that foreign entrepreneurs must understand is that the Japanese pay tremendous emphasis on long-term trust, in which he encouraged the former to always aim for the long-term business from the very beginning.
“Japanese tend to be very detailed and quality-oriented. They are always punctual, especially for meetings and due dates,” Takehiko said during the Venturing Into Japanese Market forum at the sixth instalment of the MARA-OISCA International Business Forum (MOIBF) 2017.
Takehiko went on to remind the aspiring entrepreneurs that although mistakes may sometimes happen, a good response strategy will make the desired difference.
One of the other speakers from the forum was Malaysia External Trade Development Corporation (MARTRADE) Deputy Chief Executive Officer Datuk Wan Latiff Wan Musa, who also echoed Takehiko's, whereby the former asserted that straightforward exporting will not work well in Japan.
The standard is extremely high in Japan, from labelling to packaging. Every detail must meet the requirements of the Japanese government, he said.
“We cannot do it without a partner in Japan. If you want to do it on your own and you expect direct export, it is quite difficult to do so.
“You must have a joint venture. Either you form a company in Japan (whereby Martrade will assist you or you appoint an agent to work with you. This is because agents can advise you on standards, regulations, customs and procedures,” Wan Latiff said, adding that export is not an easy business.
Thus, he stressed that it is vital for all the local entrepreneurs to have a strategy and to understand the essence of export value chain.
There are agencies in the country that will help the local entrepreneurs in numerous stages before they venture into the international business, from product formulation, production, labelling, packaging, rebranding, export marketing and delivering, Wan Latiff added.
Also present in the forum was Hj Rasol Abu Bakar, who is the Senior Director of Japan External Trade Organization (JETRO) a non- profit government-related trade promotion organization under the Ministry of Economic, Trade and Industry (METI).
He encouraged aspiring entrepreneurs to leverage on the power of the Internet when they wish to venture into the Japanese market, citing Alibaba or Aladdin Street, among others, as websites that the entrepreneurs can refer to.
He also said aspiring entrepreneurs should go for exhibitions in Japan to better understand the market there, adding that MARTRADE would usually organize exhibitions there between February or March.
“You join the programme and you bring your product. Let the Japanese see and taste your product,” he said, adding that Malaysians should ‘ create an identity' when they go to Japan
On a separate note, he disclosed that JETRO seeks to promote mutual trade and investment between Japan and the world and its core activities are focused three areas, namely, trade, investment and research.
The forum was moderated by Diah Abah, the Director of MARA Transport Industry-Division