In the 1990s, many Japanese companies that tried to expand overseas failed except for a few. Then over the past ten years or so, a remarkable number of Japanese companies that boldly tried to expand found success. The difference between the two situations is that the second time around, Japanese companies learned to merge, acquire, and adapt and approve personal loans. In short, they learn to be globally aggressive by fashioning their style, so it fits in smoothly the global standards.
One such move was to adapt the international standard in accounting procedures. This has become a primary key to their success so much so that several local Japanese companies are now able to offer outsourcing BPO services to foreign companies. They have also learned to be bilingual not just in offering BPO services but also among top managers and CEOs who need to interact with foreign counterparts. In some Japanese companies that have become a global brand, speaking English at work is one of the critical changes that have been made.
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In many Japanese companies, local and overseas, many employees are not from Japan. There is a multi-cultural environment where one can find Chinese, American, and European workers and managers under one corporate roof.
An example of a Japanese global brand is Takeda Pharmaceuticals, with operations in Asia, Europe, and America. Over half of its revenues of US$19 billion come from overseas operations. The company has non-Japanese top management running vital departments and offices, and English is the main language used in most offices.
Several accounting firms in Tokyo have begun to adapt to this global standard in order to appeal to a wider client base. Add to the fact that the Japanese dedication in work and discipline makes their services highly competitive and successful.