The following are the definition of Key Words pertaining to the Expansion of Companies from Japan in the context of this website:
Consumers: The group of people who purchase a certain good. They play a crucial role in the economic system and are also compose the target audience in which companies will direct their advertisement. They impact both supply and demand of a certain good within a market.
Free Trade Agreement (FTA): An agreement in which the nations involved eliminate barriers to trade. This includes the reduction of tariffs and quotas and allows free trade of goods in both directions. An increasing amount of countries, including Japan, are striving to implement Free Trade Agreements.
Foreign Direct Investment (FDI): A mode of entry for a company to enter a foreign market. Direct investment in a foreign country can involve buying a company abroad or simply expanding their domestic one. Often done to expand markets or to take advantage of policy differences such as cheaper wages, it is one of the primary form of globalization for many countries. The United States is currently the largest receiver of foreign direct investment.
Globalization: The growth and expansion of a company or product outside its domestic market. These companies are now growing to produce on a worldwide scale.
Harajuku:The pop- culture and fashion center of Tokyo youth. It is a large shopping district known for its underground stores, unique sense of style, affordably priced fashion, and the infamous trend of Harajuku girls. It houses many of Japan’s most hip retail stores that have any their way into the United states market.
Market: The sphere in which sellers and buyers of a particular good or service can have a potential transaction or commodity exchange. Markets can be local, national (internal), or international(foreign) depending on their territorial boundaries and size. Globalization primarily focuses on foreign markets.
Mitsui & Co.: is one of the largest corporate conglomerates and general trading companies in Japan and one of the largest publicly traded companies in the world. It 1870, it became the first major japanese investment in the United States and marks the starting point of a Japanese presence in the US market.
Multimedia: The usage of more than one communication form or content form. This can include a combination of text, visuals, audio, interactivity, or animations. Multimedia campaigns play a large role in successful expanding companies abroad.
Press Release: An official statement issued either written or recorded directed at the news media to announce something of importance. It is an crucial aspect of globalization because it is a useful form of publicity and keeps consumers up to date.
Recall: To make unavailable to the market and returned to the manufacturer. There are many instances in which foreign companies that have come into the US are forced to recall their products after being found faulty. This can be detrimental to companies as it can ruin their reputation and prevent future sales.
Retail: The sale of a good directly to consumers for consumption rather than for resale (to the end-user). Most of the companies explored on this website offer retail goods and thus implement outreach strategies focused on retail.
Soft Power: A nontraditional approach to attainting power and influence over a country’s values and culture in which neither government nor economics plays a role. Often interpreted as the power of attraction rather than coercion. Soft Power is often witnessed in the media and pop culture in the realm of globalization.
Tokyo: The capital of Japan and the center of Japanese culture, politics, and business. Tokyo houses the headquarters of the majority of Japanese companies that have had the momentum to expand abroad.
Toyota Motors Corporation: (トヨタ自動車株式会社) : Japanese Multinational Automaker. Often abbreviated as TMC, this multinational company was founded in Toyota City Japan in 1937.
Uniqlo(ユニクロ): A Japanese Retail Giant that specializes in casual wear. Uniqlo opened their first store in Japan in November 1998 in the fashion center of Tokyo – Harajuku. They have in the past year opened several stores in the east coast and just opened first west coast store in Union Square,San Francisco in early October. Uniqlo has also made attempts to expand in countries such as China, South Korea, and even parts of Europe such as England.
World Trade Organization (WTO): Or organization that supervises and deals with the rules of trade between nations. It was formed in 1995 and is the primary forum for negotiations of trade policies. The WTO currently has 157 members which include both the US and Japan.