Tokyo, the capital of Japan, remains the leader of trends in fashion and technology. In addition to this, Japan remains top of the list in the market for the entry of international businesses. That said, we’ll be exploring the benefits of doing business in Tokyo, Japan, and look at a few things you should know about when doing business in the Japanese market.
The Benefits of Doing Business in Tokyo
In case you didn’t know, the Japanese economy is the World’s third largest economy following China and the United States. Additionally, it holds the firm as second place in the world for a market for computers and telecommunications.
One of the major advantages of doing business in Tokyo, Japan, according to local experts, is that the population largely has a lot of disposable income. That said, for many companies, high-end goods and services of premium quality are the preferred choices within the market if you want to meet business success. This, therefore, means that you have to meet the high expectations of the Japanese as they have a high demand for standards than people in other countries would.
Convenience is a bonus too!
The convenience of entering the Japanese market and setting up is also to your advantage. After having your business meeting with your Japanese counterparts, having your business negotiations, and closing business deals, after that it isn’t such a long process. Within as little as 14 days, your Japanese business can be up and running. Of course, the business culture of Japanese companies, Japanese etiquette, and business practices must be taken into consideration before any business in Japan can take place.
Other advantages of doing business in Japan include the fact that the society is highly technological and their infrastructure is one of the best in the world. Everything is accessible in Japan thanks to their excellent roads and buildings, their railroad and subway systems and so much more.
Japanese Business Etiquette
Doing business in Japan requires you to have some understanding of Japanese business etiquette, be aware of the cultural differences, and of course, get acquainted with Japanese people.
Japan has a very unique culture. It is expected that respect is given to age and status within Japanese society. Interacting with your Japanese counterpart effectively means that they see you as their equal. Japanese business culture is very relationship-oriented. Relationships are a very important aspect of business in Japan. They want more time to speak and get to know you and trust you before becoming business partners or doing any other type of business.
Be prepared to get to know your Japanese counterparts outside of business meetings. Instead, the Japanese do it in restaurants over food and drinks. On the other hand, your first meeting in a business setting is more formal. Business clothes are modest in Japanese culture. Dark colored clothes and shoes, for example, are acceptable with very modest jewelry and hairstyles. This goes for both men and women.
Exchanging business cards is also a very big deal in Japanese culture when meeting for the first time. A Japanese business card follows a strict protocol. When it comes to business cards everyone in receipt is able to quickly learn more about a person. Their position, title, and rank is contained in the business card information. You should receive your Japanese counterparts business card with two hands. Also, remember to return one in the same breath as part of the process.
Bowing is also a major part of not just a business meeting, but also everyday life. It is a sign of respect for those around you. For men it is customary, when bowing, to keep their hands by their sides. For women, they may cross their hands at the height of their thighs. It is disrespectful to maintain eye contact when bowing.
Modesty and humility are a big part of Japanese culture. That said, you must speak in quiet tones especially when in company and pay attention to your body language (gestures). Of course, Japanese do not speak English as their first language. So it is recommended that you use an interpreter during your business meetings. Especially when the time comes for decision making and the final decision among everyone.
Tokyo Japan is the perfect market for doing business internationally. The Japanese economy is the third-largest in the world and the society is very receptive to innovation and new trends.
At Day Translations we’re proud to be the bridge between you and the Japanese market when it comes to doing business. Whether it be business meetings or interacting with people, let Day Translations take care of all your translation and business needs.