By Fiona Graham

Eastern white-collar staff were characterized via their extreme loyalty and life-long dedication to their businesses. This ebook is predicated on very huge ethnographic study inside of a jap coverage corporation throughout the interval whilst the corporate used to be dealing with an important trouble which resulted in the company's financial ruin and cave in. It examines the attitudes of eastern staff in the direction of their paintings, their corporation and similar matters at a time whilst the status quo and verified attitudes have been below probability. the wide variety and aspect of the reporting of staff' attitudes, frequently of their personal phrases, sustained over a substantial timescale, makes this learn a very useful source.

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Additional info for A Japanese Company in Crisis: Ideology, Strategy, and Narrative (Contemporary Japan)

Example text

So if land was the security for the loan, the loan was made on the assumption that land prices would not fall. And to loan money with the land itself as security was very common at the time. But if that same security has fallen in price to a third or even a fifth of its original value, then the security is no longer adequate for the loan. And the value of the loan is no longer covered by the security. So our bad debts grew and grew. I don’t think that C-Life could have avoided the recession in any way.

Although I no longer have my Gucci bag, because it got damaged! But I think the situation is like this now. I didn’t think things had gone too far at the time, but I did think, ‘This is incredible. The world has really got heaps better’. You couldn’t help but think that, if you went back to ’87, 8, 9, ’90, ’91. V: When the bubble actually burst, I was in England. I went in March of 1990, when the English economy was getting worse and worse, and in March of 1992 I came back to Japan and thought that the Japanese economy was really good.

In the wake of Japan’s economic woes, there has been much comment or analysis published by financial experts on the causes or likely consequences of the economic downturn. There has been relatively little work showing what ordinary people, such as company employees, think about it and how they view their prospects. This chapter aims to do something to redress this imbalance. Throughout it, and the two chapters which follow, I quote the employees themselves to illustrate or reinforce my comments.

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