Howard stringer, Sony's (SNE ) newly appointed chief, is the latest member of one of the world's most exclusive clubs: foreigners running Japanese companies. This group -- the Japanese call them "blue-eyed" CEOs -- includes Carlos Ghosn at Nissan (NSANY ), incoming Shinsei Bank head Thierry Porte, and former Mazda (F ) President Mark Fields.
After the wrenching contraction of the 1990s, the country is more open than ever to "Western-style" capitalism. Today execs who once sought to capture market share and revenue at the expense of profits are finally embracing shareholder-friendly yardsticks such as high profit margins and low debt ratios. Goldman Sachs estimates average return on equity at major Japanese companies will hit 10% this year, the highest since 1989 and up from zero in 2001.
http://www.businessweek.com/bwdaily/dnflash/mar2005/nf20050310_7753_db046.htm
I find it a little disturbing that Americans are going overseas to run companies to put American ones out of business. Then they come back and buy the loser company cheap.
After the wrenching contraction of the 1990s, the country is more open than ever to "Western-style" capitalism. Today execs who once sought to capture market share and revenue at the expense of profits are finally embracing shareholder-friendly yardsticks such as high profit margins and low debt ratios. Goldman Sachs estimates average return on equity at major Japanese companies will hit 10% this year, the highest since 1989 and up from zero in 2001.
http://www.businessweek.com/bwdaily/dnflash/mar2005/nf20050310_7753_db046.htm
I find it a little disturbing that Americans are going overseas to run companies to put American ones out of business. Then they come back and buy the loser company cheap.