Japan is the strongest economy in the Asia and Tokyo is the largest commercial area in Japan the world's largest metropolitan economy with a GDP of US$1.479 trillion at purchasing power parity in 2008, ahead of New York City, which ranks second on the list. The city hosts 47 of the Fortune Global 500 companies. To set and grow business in Japan where there is already tough competitive environment one has to come up with unique and special product or services with best quality you have to be more patient for Japanese companies they are more focused on building trust and mutual confidence and have strategic approach rather than opportunistic one . Do not expect quick results.
The key business sectors where there is potential for international exporters and investors include Aerospace, Automotive, Bio/pharma, Chemicals, Computer software and games, Creative industries (fashion, design, and music), Energy, Fashion, Financial and legal services, Food and drink, Healthcare and Telecommunications. The best way to break in to market is through local agents or distributers if you looking to export to Japanese market. Before exporting to Japan complete market research must be carried out and it can be done best through local agents or distributers. This will be first step to break in, personal relationships work well and should be developed in long term prospective, built on mutual trust and it can be time taking so one has to be patient to set in market for long term.
Don’t sit back and just rely on agents or distributers but your presence in market is also very essential. Visiting market on regular basis will not only develop successful interaction with agents and distributers but also help you learn business ethics, trends and culture as well, more you interact with market and consumer the more you will know the demands and needs of buyers, that will help you to develop your product or services accordingly. There are many consultant agencies are there in Japan to help you set up your business they will do market research for you and provide upto date market information, provide list of authentic agents, potential partners, key market players or potential customers. They also organize events for you where you can present your company’s products and services to the potential buyers and can meat business partner.
It is advised to fulfill the legal requirements required for setting up business in Japan. Lists of local lawyers can be obtained from business consultant firms many consultant firms also offer legal assistance to start business in Japan. The Japan External Trade
Organization (JETRO) produces a guide to “Laws & Regulations on Setting up Business in Japan”
Many recruitment agencies work in Japan to provide skilled manpower to both national and International companies. These recruitment agencies can cater for personnel needs of foreign companies ranging from junior support staff to CEO.