Efficiency and Trust: Creating a Market-Oriented Economy in Japan

June 24, 1997

Yuzaburo Mogi
Chairman, Committee for Restructuring of the Market
(President and CEO, Kikkoman Corp.)

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Introduction: Now Is the Time to Change to a Market-Oriented Economic System

Chapter 1. The Basic Perception of the Market

1. Trends in the International Community
2. A Perspective on the Present Japanese Market

Chapter 2. Toward a National Economy Centered on the Free Market

1. Extending the Scope of the Free Market
   (i) Scaling Down Government Enterprises
   (ii) Reducing Regulation
2. Consolidating the Market Infrastructure to Support Free Competition
   (i) A Market Infrastructure Consistent with International Practices
   (ii) Eliminating Non-Transparent Standards (Such as Discretionary Power and Intervention) in the Operation of the Market
   (iii) Disclosure of Information
   (iv) Multilayered Monitoring Systems
3. A Second Chance in the Market, and Independence for the Socially Disadvantaged
   (i) Those Who Fail in the Market Should Try Again
   (ii) Encouraging Self-Help Efforts by the Socially Disadvantaged

Chapter 3. Challenges for the Corporate Community

1. Creating an Attractive Market
   (i) Promoting Reform
   (ii) Creating Markets
2. Corporate Management and the Evaluation of the Market
   (i) Jobs and Profits
   (ii) Environmental and Safety Issues
3. Management Based on the Principle of Self-Responsibility
   (i) Basing Corporate Management on Self-Responsibility
   (ii) Increasing Transparency

Conclusion

Japanese version