Chapter 1: What Makes Japan Special
Sanpo-yoshi —Good for the Seller, Buyer, and Society Let’s begin with a history lesson that takes us back four hundred years to the Edo (1603-1868) and Meiji (1868-1912) periods. Both were successful and peaceful eras, with the Meiji Restoration of 1868 marking a time of significant political, economic, and social change that brought about the modernization and Westernization of Japan. During this time, Japanese elites and business merchants gained new prominence and defined sanpo-yoshi, a business philosophy emphasizing three pillars: good for the seller, good for the buyer, and good for society. Today, many shinise —long-standing businesses—are global brands that can trace their origins to this era including Mitsui, Sumitomo, Mitsubishi, Konoike, Kawasaki, and Yasuda. Consistently, in interviews with executives across sectors, when asked why Japanese companies support impact and are committed to impact investing, sustainable finance, and ESG, the responses have been strikingly similar to Ohno-san’s sentiments. Japanese companies have a tradition of business commitment to “moral money” and multiple bottom lines. Ken Shibusawa, CEO of Shibusawa & Co., explains, “For centuries, Japanese companies have built into their business DNA the commitment to contributing to and strengthening community and succeeding financially. It has always been part of our culture and business practices.” 2
Imagine a traditional Japanese house—made with strong timbers that are centuries old. This structure is a symbol of Japanese businesses’ deep commitment to community. Now add a modern structure that is equally strong and beautiful and added to the ancient structure, and you understand what Japan offers the world is history, strength, and innovation for impact. — Shuichi Ohno, corporate and philanthropic leader, SIIF Chair of Executive Committee 1
11
Ten Years in the Making
Powered by FlippingBook