No. 29
ISSN 0289 - 8721

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Information Bulletin of

The Union of National
Economic Associationsin Japan

日本経済学会連合

2009

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Editorial Committee
Tomonori NAKAMURA, Meiji University
Yasuyoshi KUROKAWA, Senshu University
Jota ISHIKAWA, Hitotsubashi University
Shozo INOUYE, Rikkyo University
Yoshio MAYA, Nihon University
Yuji OSHITA, Hosei University
Yoshiharu KUWANA, J.F.Oberlin University
Koji YOSHIMURA, Meiji University
Yuji YUI, Seijo University
Toshio UEMURA, Asia University
Hiroshi SAIGO, Waseda University
Kazusei KATO, Nihon University
Directors of the Union
President
Kenichi ENATSU, Waseda University
Yasuo OKAMOTO, University of Tokyo
Toshio KIKUCHI, Nihon University
Mitsuhiko TSURUTA, Meiji University
Yasuhiro OGURA, Toyo University
Hiroshi OTSUKI, Waseda University
Ryuhei WAKASUGI, Kyoto University
Fumihiko HIRUMA, Waseda University
Yukiko FUKAGAWA, Waseda University
Kenji AKIYAMA, Kanagawa University
Secretary General
Masataka OTA, Waseda University
AuditorYoshiaki TAKAHASHI, Chuo University
Takashi HASHIMOTO, Aoyama Gakuin University
Emeritus
Takashi SHIRAISHI, Keio University
Osamu NISHIZAWA, Waseda University

THE UNION OF NATIONAL ECONOMIC ASSOCIATIONSIN JAPAN
日本経済学会連合
The Union of National Economic Associations in Japan, established in 1950, celebrated its 50th
anniversary in 2000, as the sole nationwide federation of associations of scholars and experts on economics,
commerce, and business administration. In order to obtain membership an association is subject to an
examination of its academic work. As of 2009, the Union had a membership of 63 associations, as listed
on pp.100-120.
The aims and objectives of the Union are to support the scholarly activities of its member associations
and to promote academic exchanges both among members themselves, and between Japanese and academic
societies overseas. The main activities of the Union are: (1) the publication and distribution of academic
material concerning Japanese economics and papers presented by member scholars, (2) the sending ofmembers to overseas conferences, (3) the holding and supporting of international conferences in Japan,(4) providing financial assistance to member associations who invite foreign scholars to Japan, and (5)collecting information on activities of member associations and the issuing of a news bulletin.
The Union published in 1974 Keizaigaku No Doko (The Trend in Japanese Economics), based ona survey of economic studies undertaken in postwar Japan. A supplementary volume covering Japanese
economic studies after 1974 was published in 1982.
The Union and the International Economic Association (IEA) jointly held the Fifth World Congressof the IEA in Tokyo from August 29 to September 3, 1978. The Union joined the International Institute of
Public Finance in holding the Institute’s 37th Congress at Tokyo in September 1981. The Union dispatched
20 member scholars to the Eighth World Congress of IEA held in India in 1986. Most recently the Union
successfully sponsored the IEA Tokyo Round Table Conference on “Institutions in a New Dynamic Society”
held between 15 and 17 September 1987, and hosted the 1996 IEA Tokyo Round Table Conference
between 16 and 19 December, on the theme “The Institutional Foundation of Economic Development inEast Asia.” To celebrate its fiftieth anniversary, the Union held a special lecture meeting on May 25, 2000.
Three lecturers were invited to speak on the theme, “The reforms that the 21st Century will bring to theworld economy, the Japanese economy, and Japanese management.”
The Union celebrated in 1980 the 30th anniversary of its founding by launching a variety of activities,
including the publication of The Information Bulletin. Prof. Paul Snowden of Waseda University acts aseditorial adviser.

Address : Secretariat of the Union, c/o School of Commerce, Waseda University,
Nishiwaseda 1-6-1, Shinjuku-ku, Tokyo 169-8050, Japan.

CONTENTS
Page
ASIAN MARKET ECONOMIES, JAPAN ACADEMY FOR..............................................1
BUSINESS ANALYSIS ASSOCIATION..........................................................................8
ECONOMIC ASSOCIATION, JAPANESE........................................................................18
HUMAN RESOURCE MANAGEMENT, JAPAN SOCIETY OF................................24
INSURANCE SCIENCE, THE JAPANESE SOCIETY OF..............................................31
INTERNATIONAL ACCOUNTING STUDIES, JAPANESE ASSOCIATION FOR..........40
INTERNATIONAL BUSINESS STUDIES, JAPAN ACADEMY OF.................................45
MANAGEMENT EDUCATION, NIPPON ACADEMY OF................................................55
PUBLIC FINANCE, THE JAPAN INSTITUTE OF...........................................................63
PUBLIC UTILITY ECONOMICS, THE JAPAN SOCIETY OF........................................74
STATISTICAL SOCIETY, JAPAN...........................................................................................79
TRANSPORTATION ECONOMICS, THE JAPAN SOCIETY OF.......................................88

LIST OF MEMBER ASSOCIATIONS...............................................................................100

JAPAN ACADEMY FOR ASIAN MARKET ECONOMIES
1. History of the Academy
The Japan Academy for Asian Market Economies (JAFAME) was established on
November 22 1997. It was born only twelve years ago and has a shorter history thanother academic societies which have longer histories. However, it has accomplishedsteady growth together with the rapid growth of recent Asian economies. 1997 was ahistoric year in Asian economies, which were called a miracle of the 20th century. On
July 2 1997, the Thai currency exchange rate was devalued suddenly and an Asian
economic and financial crisis occurred. After the hard experience of Asian countries,
Asian countries have accomplished dramatic recovery again.
The purpose of JAFAME is “to perform academic research on the history, theory
and empirical study of Asian countries and to contribute to the development of Asianand World economies,” in Article 2 of the JAFAME constitution.
The kickoff convention was held at Meiji University on November 22 1997. The
president, vice president and directors were elected and a keynote speech was deliveredby Mr. OISHI, the former President of the Japan Overseas Development Corporation,
under the title of “Non-economic Factors in Economic Activities: Management andTechnology Transfer.” In the second year after establishment of JAFAME, the membersin the western part of Japan requested the establishment of a western association inorder to diversify academic research activities from the centralization of Tokyo tonationwide activities. In November 1999, the board of directors decided on theestablishment of a western association in Aichi University, so that JAFAME now
consists of an eastern association and a western association. Both associations continue
to carry out a steady research activities. A national meeting has been held every year. In
2007, ten years after the establishment of JAFAME, we were happily able to join the
Science Council of Japan and the Union of National Economic Associations in Japan.
This participation gave a positive incentive to all the members of JAFAME.
2. Outline of the Academy
The members of JAFAME consist of regular associates, general members, graduate
school students, personal supporters and corporate members. The number of members isover 200 persons, who are professors, graduate school students, researchers of research
institutes and trade advisors associations. The executive officers are directors, auditors1and operating officers, and president and vice president are elected by executive officers.
From the Annual Meeting at Kanagawa University in 2007, all executive officers are
obliged to be designated by election. Members of over age 70 cannot become executive
officers of JAFAME. In 2008 the JAFAME academic award was inaugurated andscreening of academic papers was introduced. We hope the first JAFAME academic
award will be given as soon as possible.
Amendments to the constitution and regulations have been gradually made since
the third year from the establishment of JAFAME. Fundamental amendments weremade at the Aichi University National Meeting in fiscal year 2008. In Article 6, General
Members were created and in Article 16 JAFAME academic awards were newly
introduced. In the regulations, the board of directors of the National Meeting in 2006
decided to establish a paper refereeing system. The board of directors of the National
Meeting in 2008 established regulations for general members, members emeritus and
JAFAME academic awards.
3. The Latest Annual Meetings
On June 27 2009, the Annual Meeting was held at Wako University, organized byProfessor Yoshihiro OKAMOTO (Wako University), the president of JAFAME. New
directors and auditors were elected by all members of JAFAME. On June 27 and June
28, twelve interesting and academic presentations were given.
The main speakers were: KE Long (Fujitsu Research Institute), Takamitsu
YAMANAKA (Hanazono University), Masahiko KOMORI (Development Bank of Japan),
Yoshito SAKAIDA (Meiji University), Yoshihiro KANDA (Hiroshima Shudo University),
Junichi MURAMATSU (Hiroshima University), Yoji HAYAMA (Meiji University), Jin
MATSUO (Kokushikan University), Rika KASHIWAGI (Kaetsu University), Masaharu
ONUKI (Association of Commercial Conflict Mediation of Japan), Yoji HAYAMA (Meiji
University) and Kenji TAKASAGO (Kansai University).
In the twelfth National Meeting at Aichi University in 2008, the keynote speech
was made by Mr. A. SIGIT, General Director of Industry at the Embassy of the Republicof Indonesia. The title of his speech was “Indonesian Strategy on Development
Industry”. The year 2008 was the 50th Anniversary of the establishment of diplomatic
relations between Japan and Indonesia. The speech given by Mr. SIGIT contained usefulimplications for future economic problems between Japan and Indonesia and2

contributed to the progress of JAFAME.
4. The Academy’s Project
According to the founding declaration of JAFAME, the 21st century has long beencalled the Asian countries’ era. As Asian countries have made rapid economic progress,
the objectives and methods of research on Asian economies have become more
complicated than expected. Conventional methods of research approach cannot
necessarily be adapted to real Asian economic movements.
While many academic associations are researching Asian economies, thecharacteristics of JAFAME are to carry out deep academic research of Asian countries’
history and culture and to make interdisciplinary research through theoretical andpractical analysis of Asian market economies. We are also trying to perform epochmaking research on the past and the future of Asian countries’ economic growth.
On the basis of the fundamental concept of JAFAME, a JAFAME taskforce on“Energy, Environment Problems and Economic Growth in Asian Countries” visited
Bogor University in Indonesia in February 2009 and made an academic agreement
between JAFAME and Bogor University.
5. Journal Articles
We publish an academic research journal, the Journal of the Japan Academy for
Asian Market Economies, once a year. Every paper is refereed by other professors. Afterthe annual meeting, JAFAME News has been published every year. The 2007 Annual
Meeting held at Kinki University had a workshop “The Shape of the East Asian
Economy to Come”; Cambridge Scholars Publishing was interested in this presentationand published this workshop paper in England.
The English publication contains studies that seek to illuminate our understandingof the direction of recent economic and political development in East Asia, and pose aquestion: what will this mean for our societies? To discuss this theme, from 14-16 July
2007, scholars engaged in research on the recent development for the Asian economy
came together in workshops held by JAFAME. JAFAME concurrently held its 10th
Annual Meeting with over 100 Japanese scholars and researchers participating. The
conference title was “The Emerging Shape of an East Asian Economic Community”. A
series of international workshops constituted Track Two of this conference, in which all3the presentations and debates were carried in English.
All the chapters of this book were contributed by the participants in theinternational workshops. We are proud of the intensive debates which took place inthese workshops and appreciate the work of all the contributors on the various phases of
the recent integration process of economies in East, Southeast as well as South Asia.
Every chapter contained in this book addresses the relevant themes in a frank mannerand details the situations that Asian countries are encountering in the process of recent
global shifts.
We believe this volume can contribute to the advancement of sincere investigations
being pursued everywhere into the ongoing global changes being experienced in ourworld. We hope this work will be of great help to those who are interested in the shapeof our future to come.
For the 10th anniversary of JAFAME, a 192-page commemorative publication The
History of Japan Academy for Asian Market Economies was printed and distributed to
all members in June 2009.
Here are lists of recent papers. The words in the titles are as in the original.
Vol. 12 (2009)
Author: Junichi MURAMATSU (Hiroshima University)
Title: The Global Evaluation of the Japanese Corporate Model and Its Relation to theChinese Market
Type: Academic article
pp. 1-10.
Author: Koichiro MORIKAWA (Kinki University)
Title: A Survey on the Trend of Activities of the Japanese Foreign Affiliates: Focusing
upon “China Plus One”
Type: Academic article
pp. 11-20.
Author: Teruhisa YAMADA (Yokohama Shoka University)4Title: The Perspective of Asian Market Economies and Japan’s Role
Type: Academic article
pp. 21-32.
Author: Rika KASHIWAGI (Kaetsu University)
Title: The Characteristics and Problems of Foreign Investment by the Chinese
Government: Focusing on China’s Investment on Natural Resources
Type: Academic article
pp. 33-44.
Author: Hidenobu KUSANO (Wako University)
Title: Security and Export Control in Japan: A Study of Illegal Export to Asia
Type: Academic article
pp. 45-54.
Author: Jong-jin WI (Kanagawa University)
Title: The Prosperity of International Logistics and South Korean Port Strategy in East
Asia
Type: Academic article
pp. 55-62.
Author: Mamoru KOBAYASHI (Senshu University)
Title: Intra-finance in Overseas Operation as A Strategic Issue
Type: Academic article
pp. 53-72.
Author: Lianshun HUANG (Hiroshima Shudo University)
Title: China-U.S. Trade Conflict on Intellectual Property Rights: Mainly before WTO
Accession
Type: Academic article
pp. 73-82.
Author: KIM Il Sik (Kwangwoon University)
Title: A Study on Diversity of Industrial Structure and Financial Crisis in East Asia
Type: Academic article
pp. 83-94.

5

Author: Arto OJALA (University of Jyvaskyla)
Title: Is globalization reducing distance between countries?
Some empirical evidence from foreign software firms operating in Japan
Type: Academic article
pp. 95-101.
6. Future Outlook of JAFAME
One of the purposes of JAFAME is to co-operate the relative academic associations
and institutions and to contribute to the development of Asian and World economies. In
order to attain the purpose, we have been proudly able to accomplish the International
Academic Relationship Agreement with Bogor University in Indonesia. We also hope toestablish a similar agreement with Capital University of Economics and Business inBeijing, and other economic associations in 2010.
The present economic depression caused by last autumn’s financial crisis on WallStreet in the United States still continues in September 2009. In this situation, China
will possibly accomplish 8% economic growth as a result of the positive fiscal policy
exceeding four trillion Chinese Yuan. In the recent trend of economic and politicalsituations in East Asian countries, an “East Asia Union” has been discussed. In addition,
diplomatic policy ideas such as “ASEAN plus 3” or “an Asian Common Currency
System” are appearing.
These movements express the possibility of an East Asian Economic Community.
JAFAME is trying to research Asian Market Economies and is very much interested in
the future outlook of an East Asian Union.
The 10th Annual Meeting of JAFAME invited many famous researchers from Asia,
Europe, North America and South America and held an International Workshop which
discussed “The new stage of the East Asian Economic Community.” In the future,
JAFAME is planning to invite many researchers from all over the world and havevaluable discussions regarding the East Asian Economic Community deriving from thesuccessful results of the Workshop in the 10th Annual Meeting.
In order to accomplish the future development of JAFAME, we are planning topromote not only members’ individual research but also task force research systems: the6Chairman of the Academic Research Committee started up five research groups in 2008.
Each research group is carrying out academic research and presentations in various
fields. Under the financial support of JAFAME, some research groups do fieldwork in
Asian countries. We believe that the promotion of these academic activities is essential
in the future.
(Kouichi IWAMA Wako University)

7

THE BUSINESS ANALYSIS ASSOCIATION
1. Outline of BAA
The economic society demands that business analysis is studied systematicallyfrom not only the national but also the international standpoint, and such analysis
contributes to improvement of the management of companies and the development of
the national economy.
The purpose for the Business Analysis Association, established by Professor Kazuo
TAKAMATSU (Soka University) in 1984, is to unite not only scholarly members but also
researchers engaged in business analysis widely in the business world, and to contributeto the development of scientific research in Japan and its application to business.
2. President and Members of the Association
Shigeo AOKI (Aoyama Gakuin University) succeeded Akira MORIWAKI (Japan
Securities Research Institute) as President of Society on 17 May 2003; since April 2008
the current President of Society is Tsuneo SAKAMOTO (Meiji University).
The approximately 550 members of the Business Analysis Association as of April
2009 are categorized into two as follows.
1. Full Members ― persons engaged in research and education of business analysis or
specialists
2. Student Members — Graduate students with a major in management or accounting.
Membership has been increasing, and academicians consist of 80% of themembership.
Practitioners and graduate students have been increasing in recent years.
3. Recent Activities
The Business Analysis Dictionary (Zeimukeiri-kyoukai Publishing Co.) was
published by the BAA to commemorate its 20th anniversary in May, 2005. Writing
involved 37 members, and, for a dictionary about business analysis, it is the unique firstattempt in Japan and also in the world. The constitution of this book consists of thefollowing three Parts.
Part 1. Theory: Good points / bad points and development tendencies in the traditional
business analysis system.
Part 2. Business: Application of analysis techniques of business analysis and its
development process.
Part 3. Proof: Actual situation analysis and investigation of business analysis. The

8

work is a new business analysis encyclopedia which studies the influence on corporate
activity not only of theoretical development of business analysis but also of social
regulation / rules.
The BAA homepage opened in May, 2003. Here, the schedule for holding theannual conference, regional studies, official regulations for contribution to the annual
journal the Japan Journal of Business Analysis and a membership application form will
be seen. Also it helps the communication among members.
The Society Prize is divided into an article section and a book section. The Society
can give the prize to both sections or one section every year. In 2007, we awarded thesociety prize to an article on the expectation prediction of managers by Takashi ASANO(Tokyo Metropolitan University). We gave the prize to joint a article about
environmental accounting by Masako TAKAHASHI (Keio University) and Akira TSUBOI(Mizuho Security Co.) in 2008. In addition, in 2009, we gave the prize to a book,Analysis of QOE: Quality of Earning by Shirou ICHINOMIYA (Senshu University).
The Bulletin is published three times a year. To date, it has been published up to no.
91. We can communicate to members about what kind of activities the Society carriesout. The program of the annual conference, regional studies, the budget and settlementof accounts of society, the address changes of members and the names of new members
are mentioned in the Bulletin.
Journal of Business Analysis is published once a year, so far reaching No. 25.
High-level refereed articles are carried.
The contents of No. 23, published on March 31, 2007, and No. 25, published on
March 31, 2009 are given below. Now the editor in chief is Masako TAKAHASHI (Keio
University)
Journal of Business Analysis, No. 23
Foreword to the Journal of Business Analysis, No. 23------------------YURIKUSA Hiroyasu
Invited Articles: The Dawning Era of Business Analysis in Japan
Business Analysis and My Research Life-------------------------------TAKAMATSU Kazuo
Literatures on Business Analysis in Japan—Recollections of the Achievement by
Japanese Pioneers --------------------------------------------------------SUEMASA Yoshinobu
Note on the Construction and Interpretation of Accounts in Japan---------------------------ARAKAWA Kunimasa
ArticlesM&A Analysis through Financial Statements Information-------------MIYAMOTO Junjirou
Expectation Management and Earning Management related to Managements’9forecasts--------------------------------------------------------------------------ASANO Takashi
Determinants of Governance Structure: Evidence from Japanese IPO Firms--------------OKUDA Shinya, TAKAHASHI Reiko, SUZUKI Katsushi
A Prediction Model of Japanese Bank Failure Based on Financial Ratios------------------YAGI Tomoyuki, TAKAHASHI Masako
A Relative Analysis between Financial Performance and Private Placement Bonds
issued by SMEs in the Suwa Region of Nagano Prefecture----------------HAYASHI Koji
An Empirical Analysis on Financial Considerations of Daikoku Henjou-------------------UENO Takefumi
Management Analysis for Local Governments: From the Viewpoints of Marketization
and Partnership--------------------------------------------------------------- HAYASHI Masako
A Study on Disclosure of Not-for-Profit Organizations and the Possibility of Mission
Evaluation-----------------------------------------------------------------------HYODO Masako
Exit through Stock Market Flotation in Japanese Buy-out Deals----------SUGIURA Keiichi
Case Analyzed
How to Discover Window Dressings: Case of Mita Kogyo-----------SUEMATSU Yoshiharu
Article Challenged
Empirical Evidence on Financial Reporting Factors relating to the U.S.
For-Profit-Universities---------------------------------------------------NAKASHIMA Masumi
Journal of Business Analysis, No.25
Foreword to the Journal of Business Analysis, No. 25-------------------SAKAMOTO Tsuneo
Feature Article
Issues Surrounding Accounting Manipulation------------------------------------AOKI Shigeo
HIRAMATU Kazuo, HAMADA Yasushi, SHIZUKA Masaki,
SUDA Kazuyuki, HATTA Shinji
ArticlesEvaluation of Corporate Social Aspects and Corporate Social Responsibilit---------------MUKOYAMA Atsuo
Financial Analysis using Mining Techniques: Empirical Analysis of Bankrupt
Companies-------------------------------------------------------------SHIRATO Cindy Yoshiko
TAKEUCHI Hironobu, OGINO Shiho, WATANABE Hideo
Segment Reporting for Business Valuation: GE and Matsushita Electric Industries------HIRAOKA Shufuku
CSR Investments, Enlightened Investors, and Financial Disclosure-------OKUDA Shunya
Empirical Study of Value Relevance under Residual Income Model and Abnormal

10Earning Growth Model----------------------------------------------------HANAMURA Shinya
Appropriate Governance on Banks: Based upon Implication Public Funds----------------NOZAKI Hironari
Cases Analyzed
The Public to Private Buy-out Transactions and Relisting in Japan: The Case of
TOCALO and KITO Corporation-------------------------------------------SUGIURA Keiichi
Materials
Case Generating Ability and Corporate Value in Financial Statements----------------------ONARI Toshihiro
Study Groups
Business Analysis of Modern Mergers & Acquisitions-------------------SAKAMOTO Tsuneo
BUNDO Hiroyuki
Research Division West---------------------------------------------------------------SHIBA Kenji
4. Current Research Trends
Regional studies are held in the East District (Kanto), Central District (Chubu)
and West District (Kansai) about 8 times a year in total. At a Kanto regional study set up
in May, 2009, research activities are performed on the theme of “A New Trend in
Business Analysis and the Stock Market”. In addition, in the Kansai regional study,
research activities have been performed on the theme of “Business Analysis of the
Non-Profit Organizations” from January, 2009. In the Chubu regional study, a meetingfor the study of “Company Evaluation” was held. In addition, a Kanto regional study on“Mergers and Acquisitions” was performed for two years, and the result was publishedby Chuo-Keizai Pub. Corp.
A study forum can be set at any time. Forums have been held around 10 times on
the theme of the hospitability industry since 1994. Many problems in hotel management
play a key role in the themes discussed.
Disclosure study meetings have been held separately from regional studies since1996. The journal called Disclosure Study has been published as the result. The journal
had been published in 32 vols. by spring, 2009. As for the study theme here, newly
occurring problems are examined. For example, one problem is how Japan copes withthe problem of convergence with the International Financial Reporting Standards(IFRS). In addition, the introduction of new accounting systems in Japan is examined.
In other words, problems such as quarterly accounting system, corporate governance,
disclosure, environmental accounting and the internal control have been studied.
The present chairman is Yukiharu KUROKAWA (Keio University) and secretaries are11

Shigeo AOKI (Aoyama Gakuin University), Kouji OYANAGI (Senshu University),
Yasuyoshi KUROKAWA (Senshu University), Satoshi KOMIYAMA (KPMG AZUSA & CO.),Tsuneo SAKAMOTO (Meiji University), Toshio SATOU (Kokushikan University),
Kazuyuki SUDA (Waseda University), Kazuo HIRAMATSU (Kwansei Gakuin University),
Keiji MASUDA (CPA), Shinichi YAMADA (Pro-Nexus Co.).
Recent contents of the journal on the disclosure study meetings are as follows.
Disclosure Study, No. 32. April 13, 2009
Kazuaki FURUICHI (Tohmatsu LLC: CPA) “IFRS and difference with the Japanesestandard”
Disclosure Study, No.31. September 12, 2008
Tatsumi YAMADA (IASB: Director) “Recent trends concerning the IASB ― fromconvergence to adoption”
Disclosure Study, No. 30. April 8, 2008
Yusuke NAKAJOU (Yokohama City University)“About accounting standards concerning the disclosure of the segment information andthe situation of the guidance”
Disclosure Study, No. 29. October l 7, 2007
Yuko KANEKO (Shinnihon LLC: CPA) “Correspondence to the quarterly report in the
Financial Instruments Trading Law”
Disclosure Study, No. 28. April 20, 2007
Takehiro ARAI (Tokyo Stock Exchange) “About the situation of accounting standards forquarterly financial statements”
Yuko KANEKO (Shinnihon LLC: CPA)
“About the situation of quarterly review standards”
Disclosure Study, No. 27. December 20, 2006
Mitsuru TAGAYA (Aoyama Gakuin University) “Summary and problems of the new
disclosure system in the Financial Instruments Trading Law”
Disclosure Study, No. 26. October 31, 2006
Toshiko SATOU (Japan IR Association） “Trends in IR by domestic companies towatch in IR activity fact-finding : an example”
Noriyuki MATSUSHITA (The Securities Analysts Association of Japan) “An ideal methodof IR from point of view of an analyst”
5. Annual Meeting and Fall Meeting
We have a two-day annual meeting once a year. Meetings include several speakers
and a panel discussion. The topics chosen as a common theme are the most important12issues of Business Analysis in Japan. The annual meeting is held in spring and the fallmeeting is held in fall. The contents of recent annual meetings and fall meetings are as
follows.
Annual Meeting No. 26, June 6, 2009, common theme: Tendency and Business
Analysis in Company Disclosure, Toyo University, Chairperson, Professor Hirofumi
INOUE.
The disclosure system for Japanese companies changed greatly in 1999.
Specifically, systems were introduced for disclosure concentrating on consolidated
statements, expansion of the current price evaluation of financial instruments,
arrangements for basic financial statements of consolidated cash flow, accounting for
retirement benefits, and deferred accounting. Moreover, from the legal point of view,the extensive revision of company law and accounting standards for financial
instruments severely affected disclosure.
Company law requires tightening internal control in companies and demands not
only numerical but also non-numerical information. With the expansion of computer
networks, the move toward of electronic disclosure has gained speed. Discussions were
held on how business analysis should handle such changes.
Annual Meeting No. 25, May 10, 2008, Common theme: Evolution and Expansion
of Business Analysis, Kansai University, Chairperson, Professor Kenji SHIBA.
Developing globalization demands the maintenance of a market enabling
investment on a global scale. However, doubts have been raised about whether it would
be appropriate to introduce a completely American model. Comparable, trustworthy
data are required. Discussions were held on how business analysis should approach suchchanges in environment.
Fall Meeting No. 24, October 25, 2008, Common theme: Many Problems
Concerning Accounting Manipulation, Aoyama Gakuin University, Chairperson,
Professor Shigeo AOKI.
Manipulation of accounts is accepted, as long as it is performed within the limits ofaccounting standards. It contributes to the formation of stock prices. However, it
becomes fraud if it deviates from accounting standards. Such fraud can be used forwindow-dressing of accounts. Accounting fraud as window-dressing has been revealed,
and it is necessary to consider from the point of view of Business Analysis some means
to construct a system without fraud.
Annual Meeting No. 24, May 12, 2007, Common theme: Crisis Control andBusiness Analysis, Chiba University of Commerce, Chairperson, Professor Saburo OTA.
There have been frequent scandals in recent years. One reason will be that13

companies are unable to comprehend accurately changes in the economic environment.
Company problems must be considered from a multidisciplinary approach and from thepoint of view of corporate business analysis of risk management.
Fall Meeting No. 23, November 17, 2007, Common theme: Disclosure and its
Analysis under the New Financial Statements System, Okayama University,
Chairperson, Professor Noriyuki KONISHI.
The present system in Japan of financial statements consists of balance sheets,
income statements, cash-flow statements and statements of shareholders’ equity.
Financial statements must display systematically reasons for any change in individual
items assets and debt. Fair value measurement plays a key role in this disclosure. In
other words, it can be said that fair value measurement faithfully shows a current
financial position, and helps in interpreting past financial achievements for future
predictions.
Analysis methods and disclosure contents of financial statements were examined
mainly from the viewpoint of fair value measurement.
Annual Meeting No. 23, May 13, 2006, Common theme: Market and Collaborationof Business Analysis in a Self-Governing Bodies, Hyogo Prefectural College,
Chairperson, Professor Hiroyasu YURIKUSA.
Japan’s financial affairs are in a critical state. New Public Management (NPM)
could be a breakthrough policy to end this situation. It aims at promoting efficiency andactivation by introducing the ways of thinking of private enterprise management into
the government area. This would be achieved by utilizing market mechanisms.
Information disclosure by the government and participation by the public are
indispensable to the market. In other words, this is accompanied by participation by the
public-participation, informed by business analysis, by customers, taxpayers and voters.
The information used here includes not only financial accounting information but also
non-financial accounting information.
Fall Meeting No. 22, November 18, 2006, Common theme: M&A and Business
Analysis, Senshu University, Chairperson, Professor Yasuyoshi KUROKAWA.
There is heated argument in Japan about mergers and acquisitions, which has
spread to include the nature of corporate governance.
Lately, mergers and acquisitions seem to have become more prevalent. Because theconventional system in Japan was a creditor-led accounting system, the distribution of
profit was not designed or led by the stockholder. The new system attaches great
importance to the stockholder; however, there is room for debate as to whether the
distribution of profit in the stockholder’s interest is reasonable or not. We examined the14

problem of the reporting of said profit as well as the problem of its distribution. In otherwords, in this meeting, we clarified how stockholder profit gained through mergers andacquisitions is reported in coordination with the reporting of the profit of the company
itself and the profit of the creditor.
The argument about mergers and acquisitions in our country is raging and hascome to include a debate on the nature of corporate governance. It is ironic that defects
in Japanese management methods were pointed out at approximately the same time as
when those same methods were being praised by others in the 1980s. This is when
active debate on corporate governance in relation to mergers and acquisitions truly
began. The arguments for and against more recent mergers and acquisitions will unfold
as the problem of corporate governance is tackled through the various speeches in thismeeting. We considered if management making light of the stockholder will continue or
not. This was clarified through the examination of several problems relating to mergers
and acquisitions. In other words, possible future developments in this area were
elucidated. Prior to the recent revision of Company Law, the accounting system attachedgreatest importance to creditors. However, under the Revised Company Law an
accounting system was adopted which attaches great importance to the stockholder. We
presented evidence on whether an accounting system favorable to the stockholder was
in fact established.
Annual Meeting No. 22, May 14, 2005, Common theme: Versatile Inspection of the
Financial Ratio Analysis, Meiji University, Chairperson, Professor Hisashi MORI.
Though business analysis that uses financial ratio analysis is the most useful meansin business analysis, it does not attract very much attention today. The importance offinancial ratio analysis was recognized again by considering this analysis under the
Common theme. This was considered from four viewpoints: 1. financing, 2. fundmanager, 3. corporate management, 4. credit rating.
Fall Meeting No. 21, August 27, 2005, Common theme: Environmental
Accounting and Valuation for Corporate Management, Hannan University, Chairperson,
Professor Satoshi HENMI.
Society demands that companies aim at the construction of a “sustainable society.”
Without positive action to the environment, maintenance of business ethics, disclosureof transparent company information, and the achievement of the compliance, companies
cannot retain corporate social responsibility (CSR). It is necessary for us to look at how
companies are going to solve these problems. Corporate management evaluation will be
evaluated from this viewpoint.
Annual Meeting No. 21, May 15, 2004, Common theme: Business Analysis and15Security Investment, Ryutsu Kagaku University, Chairperson, Professor Seiichi
KIKUCHI.
Here, many problems taking place in the stock market were handled. In companies
in recent years, reduction in stock ownership, releases, mergers and reorganizations
have changed remarkably. Changes in the traditional Japanese management style ofmutual stock ownership can be seen to have affected the stock market, which isimportant for predicting the future development of the Japanese stock market.
No. 20 fall meeting, September 18, 2004, Rikkyo University, Common theme:
Disclosure and Valuation of Companies, Chairperson, Professor Masato KAMEGAWA.
Restructuring companies leads to new stakeholders and relationships. No structure
can be maintained without new exchanges of information. The value of information on
assets, number of employees, sales and so on declines, while there is a greater need for
new information beyond what is conventional. This includes information on corporate
governance, compliance, and CSR. This is a change to pursuit of profit as Number 1. Inother words, it is necessary to harmonize the pursuit of profit and the demand for new
information. For company evaluation, social structure requires as a priority
harmonized-style companies.
Annual Meeting No. 20, May 17, 2003, 20th anniversary meeting, Keio University,
Chairperson, Professor Yukiharu KUROKAWA.
For the meeting to commemorate 20 years since our foundation, President
Professor Shigeo AOKI (Aoyama Gakuin University) gave a lecture on the theme“Tracing the History of Business Analysis Study in Japan.” Reports by members on
current and future problems were delivered.
Problems such as the growth analysis of Japanese companies, bankruptcy analysis,
financial instruments and finance theory, International Financial Reporting Standards(IFRS) and disclosure were investigated by the evolution of business analysis
techniques.
The date place, and Chairperson of earlier meetings were as follows. In addition,
before 2002, meetings were held three times, namely an annual conference, a spring
meeting, and a fall meeting. However, afterwards, the Association began to hold themeetings twice: an annual meeting and a fall meeting.
In 2002, Annual Meeting, No. 19 was held at Nagoya University with chairperson
Professor Yoshimasa TOMOSUGI and No. 18 Spring Meeting in 2002 was held at
Kokushikan University with chairperson Professor Toshio Sato. In addition, for the
meeting of 2001 and 2000 details are as follows.
Annual Meeting, No.18, May 26, 2001, Tokyo International University,

16

Chairperson, Professor, Shigeo AOKI
Spring Meeting, No. 17, April 21, 2001, Komazawa University, Chairperson,
Professor Nobuo KATAGIRI
Fall Meeting, No. 17, September 1, 2001, Kyoto Sangyo University, Chairperson,
Professor Noriaki YAMACHI
Annual Meeting, No.17, May 13, 2000, Kwansei Gakuin University, Chairperson,
Professor Kazuo HIRAMATSU
Spring Meeting, No. 16, April 22, 2000, Senshu University, Chairperson, Professor
Yasuyoshi KUROKAWA
Fall Meeting, No. 16, September 1, 2000, Kyoto Sangyo University, Chairperson,
Professor Kazuki HAMADA
The fall meeting was held at Aichi Gakuin University on October 31 in 2009.
The annual conference in 2010 will be held at Kwansei Gakuin University on July 4.
(Yasuyoshi KUROKAWA, Senshu University)

17

JAPANESE ECONOMIC ASSOCIATION
1. General Description
The Japanese Economic Association is the largest, with more than 3,000 members,
among academic economic associations in Japan. The Association is also one of theoldest, founded in 1934, and so celebrates its 75th anniversary this year. The Association
started with 40 members. Despite that smallsize, its founding members included theleading economists at the time, notably Yasuma TAKADA, Ichiro NAKAYAMA, Shinzo
KOIZUMI, and Seiichiro TAKAHASHI. Also, the quality of research by the members at thetime was remarkably high. For instance, Kei SHIBATA’s ambitious research on
integrating Marxian economics and the general equilibrium market theory attracted agreat deal of attention from the leading economists in the world.
During the Second World War, the activity of the Association was disturbed, but
its recovery after the war was very swift. Unfortunately, probably because the name
“Japanese Economic Association” was reminiscent of wartime control, the Association
was reorganized and divided into the Theoretical Economic Association and theJapanese Econometric Association soon after the Second World War. However, thesetwo Associations cooperated closely and they were eventually reunited as the Japan
Association of Economics and Econometrics in 1967. The original name of the
Association was restored in 1997. Throughout this long history, the members of the
Association have continued to engage in high international quality research andmaintained high academic standards and discipline, following the excellent
accomplishments of the aforementioned original members.
The Association’s scope of activities is very large, and it covers a wide range of
economic studies including economic theory, economic policy in general, public
economics and finance, monetary economics and policy, international trade and finance,industrial organization, urban and regional economics, economic development,
agricultural economics, econometrics and economic statistics. So the Association plays
the central role of promoting the academic research in economics in Japan not only inits size but also in its coverage of research fields. The membership consists of academic
economists as well as researchers affiliated with government/private institutions. Thereare 3,326 individual as well as 22 institutional members (as of January 2008). The list of
individual members contains numerous researchers with international academic
reputations and achievements.
The Association is managed by the General Meeting, a Board of Directors
consisting of about 40 elected members, and a Standing Executive Committee. The
President is elected by a two-step vote every year as follows: the Board of Directors

18nominates some candidates for the Vice-President, among whom one is elected for the
next Vice-President by a poll of all members. Then this Vice-President automaticallytakes over the President’s position in the next year. The Presidents from 2003 to 2008
were Tatsuo HATTA (University of Tokyo), Takatoshi ITO (University of Tokyo),Toshiaki TACHIBANAKI (Kyoto University), Kimio MORIMUNE (Kyoto University),
Takenori INOKI (International Research Center for Japanese Studies), and Makoto YANO
(Kyoto University), respectively. The President in 2009 is Masahisa FUJITA (Konan
University).
The main activities of the Association consist of publishing four times a year The
Japanese Economic Review in English and Gendai Keizaigaku no Choryu (Current
Trends in Economics) in Japanese once a year, holding biannual meetings, andcosponsoring meetings of the Econometric Society when the World Congress or its Far
Eastern Meetings are held in Japan. The details of these activities are elaborated in thefollowing sections.
The main task of the Association is to maintain high academic standards among themembers; the members are expected to do research supported by rigorous procedures,i.e., logically, mathematically and statistically sound procedures. Also, the members are
expected to discipline themselves by monitoring each other’s academic works. On theother hand, the Association accommodates various views in economics, as long as they
result from those sound procedures. Therefore, it is often the case that members
disagree on common economic issues: in fact, it is rarely the case, if not never, that themembers thoroughly agree with each other. Consequently, the Association itself has
never advocated, and will never endorse, particular economic ideas and economic
policies. For instance, the Association itself remains silent on why the recent economiccrisis occurred and how the policy makers should tackle the problems. Of course, thisby no means restricts the activities of the members. Quite contrarily, the Associationencourages, at least tacitly, each member of the Association to express their views
publicly. Indeed, quite a few members do express their views on important economic
issues, and influence the actual processes of policy makings in various areas.

2. Publications
The Association publishes its quarterly journal all in English, The Japanese
Economic Review, through Wiley-Blackwell in England. The journal, which wasformerly titled The Economic Studies Quarterly, is published four times a year in March,June, September and December, and Volume 59 was published in 2008. The journal is19

recognized as a genuine international academic journal in economics, which is open to
all researchers in the field of economics around the world. The journal is by no means aclosed bulletin for the sake of the members. Non-members as well as members of the
Association are welcome to submit unpublished research articles for editorialconsideration. The submitted articles are refereed anonymously, and those articles
falling short of the international academic standard will not be accepted for publication.
The quality standard is the same for members and non-members. That is, theAssociation’s strong intention of maintaining high academic standards is exhibited in
the editorial policy of The Japanese Economic Review.
Its scope is wide and it covers all standard research including microeconomics,
macroeconomics, and econometrics, just like the scope of the Association. It alsoemphasizes, but of course is not limited to because of the basic philosophy of the
Association mentioned earlier, the following areas:
Welfare Economics and Public Decision-Making
Theoretical and Empirical Industrial Organization
Intertemporal Economics including Dynamic Systems
International Economics and Development Economics
Economics of Law, Institutions and Public Policy
Game Theory and its Application
Theoretical and Empirical Analysis of the Japanese Economy.

The current Editorial Board of The Japanese Economic Review consists of the
Editor, Akira OKADA (Hitotsubashi University) and five Co-editors (Masanori
HASHIMOTO, Kazuya KAMIYA, Koichi MAEKAWA, and Kazuo MINO), and 25 Associate
Editors. Among the Associate Editors, 13 are distinguished foreign scholars.
In addition to The Japanese Economic Review, the Association has been publishingan annual volume, Gendai Keizaigaku no Choryu (Current Trends in Economics) inJapanese through Toyo Keizai Shinpo-Sha since 1995. It covers the Japanese version of
the presidential address, invited papers presented at the annual meeting for each year, as
well as general articles submitted by the members. It also includes surveys and/or
appropriate papers, book reviews and summary reports of the annual meeting for each
year.

20

3. Semiannual Meetings
The Association hosts semiannual meetings, one in Spring (in May/June) and theother in Fall (September/October). The semiannual meeting lasts for two days and it has
been held at various universities: Oita University (Spring 2003, this was a one day
meeting), Meiji University (Fall 2003), Meiji Gakuin University (Spring 2004),
Okayama University (Fall 2004), Kyoto Sangyo University (Spring 2005), Chuo
University (Fall 2005), Fukushima University (Spring 2006), Osaka City University(Fall 2006), Osaka Gakuin University (Spring 2007), Nihon University (Fall 2007),
Tohoku University (Spring 2008), Kinki University (Fall 2008), Kyoto University(Spring 2009), and Senshu University (Fall 2009).
Each meeting consists of general presentations as well as invited and special
presentations. There is a presidential address in the spring meeting. The number ofparticipants is growing, and so is the number of submissions for the general
presentations. The program committee reviews submissions and selects eligible ones asnecessary. There are approximately 200 general presentations at each meeting: for
instance, there were 220 at the spring 2007 meeting and 201 at the fall 2007 meeting. To
accommodate the increasing demand, poster sessions have been included in the program
since the Spring 2008 meeting.
4. The Prizes
The Association has two academic prizes, the Nakahara Prize and the Ishikawa
Prize, which acknowledge the merits and accomplishments of young scholars.
The Nakahara Prize was inaugurated in 1995. The aim of the prize is to honor andencourage distinguished young (precisely speaking, under 45 years old) economists who
published internationally well-recognized papers and/or books. The Board of Directors
selects a nomination committee consisting of both Japanese and foreign economists, andthe committee nominates one prize recipient every year. The award was made possibleby the generous endowments from Mr. Nobuyuki NAKAHARA, a businessman, for the
first nine years and then afterward by the Shin-Nihon Scholarship Foundation of which
Mr. NAKAHARA is the president. In 2003-2009, the prize has been awarded to Hideshi
ITO (2003, Hitotsubashi University), Hitoshi MATSUSHIMA (2004, University of Tokyo),
Takeo HOSHI (2005, University of California at San Diego), Yuichi KITAMURA (2006,
Yale University), Akihiko MATSUI (2007, University of Tokyo), Atsushi KAJII (2008,
Kyoto University), and Hideo KONISHI (2009, Boston College), respectively.
The Ishikawa Prize was inaugurated in 2006. The Prize was named after adistinguished economist, Tsuneo ISHIKAWA, who passed away in 1998 at the young age

21

of 51. The prize is given to a distinguished member of the Association under 50 years
old in the field of empirical and political economy, which the late Dr. ISHIKAWA studied
enthusiastically. In 2006-2009, the prize has been awarded to Fumio OTAKE (2006,
Osaka University), Makoto SAITO (2007, Hitotsubashi University), Yasushi IWAMOTO(2008, University of Tokyo), and Shin-ichi FUKUDA (2009, University of Tokyo),respectively.
5. Future Prospects
The Association is determined to keep its high academic standard and to be theleading academic association for economics domestically. The Association obviously
has various future prospects, two of which are outlined below.
The first is internationalization, especially in Asia. Clearly, the internationalizationof economics professions in Japan has been and will be an important theme, as ever.
Publishing The Japanese Economic Review in English and the creation of aninternationally recognized prize award system mentioned above are of course instancesof the Association’s efforts in that direction. The Association has been and will befollowing that direction. In particular it intends to play a substantial and leading role inAsia. Asian economies are developing fast. The academic economic associations in
Asia are growing as well, but not as far or as drastically as the economies are growing.
The Association with its rich history and experiences, not to mention its high academic
standards, is not only potentially helpful but also obliged to make efforts for theprosperous development of the academic activities in Asia.
The Association held an international symposium in October 2009, celebrating itsth
75 anniversary. To express a clearer message on the Association’s intended position in
Asia, representatives of the economics associations in Asian countries were invited. The
conference, consisting of insightful plenary speeches and lively panel discussions on the
Asian economy, concluded very successfully. This marks a small but important step
toward the leading role in Asia.
Next, the Association intends to spend more resources on general economic
education. Demand for economists is growing considerably and public pressure on
economics education is mounting. Solid economic education is needed not only forspecialists but also for the general public, since a sound economy without a doubt calls
for a general public with a good understanding of basic economic ideas. Many membersof the Association have already made substantial efforts toward this direction, but it isfair to say that the population of well-trained economists is not large and that thegeneral level of economics education in Japan is less than satisfactory.

22

The Association has clearly recognized these challenges and organized several
panel meetings on these issues. These are admittedly difficult problems, but the
Association is willing to meet these challenges.
(Jota ISHIKAWA, Hitotsubashi University; and Atsushi KAJII, Kyoto University)

23

JAPAN SOCIETY OF HUMAN RESOURCE MANAGEMENT
1. Organization and Brief History
The Japan Society of Human Resource Management (JSHRM) is an organization ofscholars, researchers and practitioners in the field of business administration, labor law,industrial sociology, industrial relations, organizational psychology, occupational safety
and other related sciences. It was originally founded under the name of the Japan
Society for Personnel and Labor Research in 1970 to promote researches in labor
related fields. Then, the English name of the Society was revised to the present one in1999 to better inform its activities to academicians and practitioners abroad. Its
members, numbering 902 as of 1st August, 2009, are active in their research activities.
JSHRM consists of six regional divisions, namely, Hokkaido, Tohoku, Kanto,
Chubu, Kansai and Kyushu regional divisions, established to stimulate and coordinate
member activities at the regional level. All JSHRM members belong to a division of
their own choice. Each division holds two to three divisional research meetings a year
and JSHRM itself holds an annual national conference. JSHRM also publishes theconference proceedings as well as the refereed journal, Japan Journal of Human
Resource Management. Through periodical divisional research meetings, annual
national conferences, proceedings and/or journals, members actively interact among
themselves without respect to their difference in specialties and age groups.
JSHRM is headed by a president (Norio KANBAYASHI of Kobe University,
2009-Present after Isao AKAOKA of Prefectural University of Hiroshima, 2005-2009)and supported by two vice-presidents and the board of directors, securing an evenrepresentation from all the disciplines, gender and geographical distribution. It also has
several standing committees such as the Committee to re-examine JSHRM philosophy
and missions, the Public Relations Committee, the International Exchange Committee,
the Organization Committee and the Journal Editorial Committee as explained below in
2. Subsidiary Organizations. In addition, each regional division of JSHRM is
independently operated by its executive board. However, the highest legislative organ is
the General Assembly, which is held at the annual national conference and is open to allmembers.
2. Subsidiary Organizations
The Committee to re-examine JSHRM philosophy and missions
This Committee re-examines the identity, raison d’être and other relevant missionsof the JSHRM. The Committee covers a wide range of JSHRM activities. For example,

24the Committee considered changing the Japanese name of JSHRM in early 2000s, but
concluded not to do so after having conducted a survey to all JSHRM members.
The Public Relations Committee
The Public Relations Committee opened in 2003 the homepage of the JSHRM on
its Web site, http://www.gakkainet.jp/jshrm/ and uploads newsletters. This has improved
the flow of information between the secretariat and its members. It has also facilitatedcommunication among JSHRM members.
The International Exchange Committee
The International Exchange Committee promotes global activities with other
scholastic associations outside Japan. Examples of its activities include a Japan-Korea
Joint Project with the Korean Association of Personnel Management as a three-yearcomparative research project between 2003 and 2006. The first joint workshop took
place in Narita, Japan on 12-13 July, 2003. The second joint workshop was organized in
Gyeonju, Korea on 23-25 July, 2004. The third and final workshop was convened at
Waseda University, Tokyo on 18 March, 2006. A publication in English contributed byboth Japanese and Korean research members is expected in 2009.
The Organization Committee
The Organization Committee is responsible for strengthening collaboration withother professional associations. A joint session was convened with the Japan Labor Law
Association at the JSHRM National Conference in 2005 and another joint session took
place with the Japan Society for Occupational Health in 2006. Communication andunderstanding with professionals in these interdisciplinary fields have been promoted
through this activity.
The Journal Editorial Committee
JSHRM has been publishing its refereed journal, Nihon Roumu Gakkaishi (Japan
Journal of Human Resource Management) since 1999. It is the Committee’s
responsibility to review all papers submitted by JSHRM members and to selectqualified ones. It is published twice a year. Copies of this journal are available in mostlibraries of Japanese universities.
3．Recent Research Activities
JSHRM holds a national conference every year. During the period of 2004-2009,25

universities in northeastern, eastern, central and western regions hosted on-campus
conferences. Many JSHRM members and non-members participate in such conferences
as presenters as well as general members of the audience.
As shown in 4. National Conferences (2004-2009) below, JSHRM members havebeen very active in their research activities, as proven by the number of its members’
research presentations at the national conferences in the past few years, i.e. 26
presentations in 2004, 49 in 2005, 49 in 2006, 40 in 2007, 55 in 2008 and 46 in 2009.
A number of symposiums relating to the major theme have been organized toadvance understandings of JSHRM members at the national conferences. In addition,
collaboration with the Japan Labor Law Association and the Japan Society for
Occupational Health materialized at the National Conferences in 2005 and 2006.
Also as mentioned for the International Exchange Committee, JSHRM initiated ajoint research project with the Korean Association of Personnel Management in 2003
and the project was completed in 2006.
JSHRM has been publishing its refereed journal, Nihon Roumu Gakkaishi (Japan
Journal of Human Resource Management) since 1999. The journal is recognized as oneof the highly reliable journals in the labor-related research fields. JSHRM presents
awards for outstanding books and papers every year at the national conference. Amongthem are the Excellent Work Award and the Research Encouragement Award.
The above mentioned facts indicate how JSHRM members have been committed tohigh level activities.
4. National Conferences (2004-2009)(1) 2004 National Conference
The 34th JSHRM National Conference was held at Kyushu Sangyo University(Fukuoka Prefecture) on 4-6 June, 2004. Its major theme was Reappraisal of Flexible
Employment and Performance-based Human Resource Management in Japan.
A special lecture was given by Jin Kyu LEE (Korea University, former President of
Korean Association of Personnel Management) on “the Present Situation of Flexible
Employment in Korea.” Two symposiums followed under the sub-theme of“Reappraisal of Flexible Employment in Japan” and under the sub-theme of“Reappraisal of Performance-based Human Resource Management in Japan.” A final
session was conducted to wrap up discussions at the conference. In the course of theconference, 26 presenters or groups of presenters made their research presentations in 9
tracks.
The Excellent Work Award was presented during the conference to Hiroshi IWADE

26

(Nihon University) for his book titled Realities of the Strategic Human Resource
Management in the United Sates. The Research Encouragement Award was presented toHaruyuki KANO (Rikkyo University) for his paper titled “Factors for Success in
Temporary Manpower Companies, based on the analysis from handling complaints
from companies supplied with temporary personnel.”(2) 2005 National Conference
The 35th JSHRM National Conference was held at Waseda University (Tokyo) on
29-30 July, 2005. The major theme at the Conference was Future of Human Resource
Development: The roles of Individuals, Firms and the Society. A special lecture wasgiven by Yasuo SUWA (Hosei University) on the “Right of the Personnel Department andthe Rights of Individuals in their Career Development.” Two symposiums followed
under the sub-theme of “Voices at the Workplace and in Society” and under the
sub-theme of “Voices of Workers and Expectations from Companies.” To interact with
the Japan Labor Law Association, a special session was organized for the first time,
inviting two specialists in labor law and two specialists in labor studies, where they
discussed the subject of “the Present Situation and the Future of White Collar Workers.”
In the course of the conference, 49 presenters or groups of presenters made theirresearch presentations in 16 tracks.
During the conference, the Excellent Work Award was presented to Koji OKUBO(Japan Institute of Life Insurance (JILI)) for his book titled Strategic Fringe Benifits.In
addition, the Research Encouragement Awards were presented to Hideo MISAKI(Fukushima University) for his paper titled “Influence of Evaluation, Rewards andFairness upon Workers” and also to Junhei HIGUCHI (Doshisha University) for his paper
titled “the Present Situation and the Problems of Wage System Reform in the UnitedStates.”(3) 2006 National Conference
The 36th JSHRM National Conference was held at Aichi Gakuin University (Aichi
Prefecture) on 28-30 July, 2006. The major theme at the Conference was Post
Industrialization and Innovative Change of Personnel and Labor Management. A special
lecture was given by Naoki MIYAZAKI (Director of Personnel Department, Toyota Co.)on the title of Toyota’s Challenge Respecting Diversities in Personnel Management.
Also, two guests from China and Korea, namely WANG Zhongming （ Zhejiang
University） gave a special lecture on “the Present Situation, the Problems and the
Future of Human Resource Management in China” and WON Shul Shim (Hanyang

27

University) addressed JSHRM members on “Cultural Convergence and Divergence of
Asian Management.” During the Conference, two symposiums took place under the
sub-theme of “Post Industrialization and Innovative Change of Personnel and Labor
Management: Comparison between the Innovative Model and the Traditional Model”
and under the sub-theme of “Post Industrialization and Innovative Change of Personnel
and Labor Management: Analysis of Situations Overseas.” In the course of theconference, 49 presenters or groups of presenters made their research presentations in
17 tracks.
To interact with the Japan Society for Occupational Health, a special session wasconvened, inviting four panelists in the respective fields.
During the conference, the Excellent Work Award was presented to Masayo
FUJIMOTO (Doshisha University) for her book titled Job Switch Structure among R&D
Engineers. And Three Research Encouragement Awards were selected and presented toShinichi KUMASAKO (Waseda University) for his paper titled “Downsizing as a form of
restructuring companies,” to Chisato SEKI (Aichi Gakuin University) for his paper titled“Career Development in the Sake Industry” and to Yin Teng CHEW (Nagoya University)
for her paper titled “Comparative Study of Strategic Human Resource Practices of Five
Personal Care Companies in Malaysia for Enhancing Employee Motivation andRetention.”(4) 2007 National Conference
The 37th JSHRM National Conference was held at the Prefectural University ofHiroshima (Hiroshima Prefecture) on 3-5 August, 2007. The major theme at theConference was Basic Problems in Human Resource Management.
A special lecture was made by Tadashi MITO, ex-president of JSHRM on “theStudies of Human Resource Management and the Tasks of Researchers.” In line withthe major theme, two symposiums were convened under the sub-theme of “Transition in
Researches on Labor Related Studies” and under the sub-theme of “People Working inToday’s Society.” In addition, a special session was organized, inviting four specialists
to interact with Japanese Association of Industrial/Organizational Psychology (JAIOP).
In the course of the conference, 40 presenters or groups of presenters made theirresearch presentations in 14 tracks.
The Excellent Work Award was presented during the conference to Mitsutoshi
HIRANO (Kobe University) for his book titled Japanese Type Personnel Management.
The Research Encouragement Award was selected and presented to Maki TANAKA(Hosei University) for his paper titled “Managerial Abilities of Factory Workers at an28

Iron and Steel Manufacturing Workplace.”(5) 2008 National Conference
The 38th JSHRM National Conference was held at Rikkyo University (Tokyo) on
1-3 August, 2008. The major theme was Light and Shadow of Diversities in theJapanese Employment System on the Issues of So-called “Non-regular workers.”
In the course of the conference, four symposiums were convened on the above
major theme. At the first symposium, the subject of “the Present Situation and the
Problems of Diversity Management in Japan” was discussed by four panelists, including
Professor Daniel G. Gallagher, James Madison University. The Conference organizer
would like to express its appreciation to the Union of National Economic Associationsin Japan for its financial support in inviting him. “The Gap between Regular Workers
and Non-regular Workers in Japan” was also argued at the second symposium, inviting
four specialists in the relevant fields. The third symposium followed on the subject of“Career Development of so-called ‘Non-regular Workers’” with four panelists
representing labor unions, a temporary personnel service industry, a big super market
industry and an academic society. A wrap-up symposium took place at the end of theconference where the president of the program committee, the chairpersons of thesecond and the third symposiums and the president of JSHRM summarized the issues
raised during the whole National Conference. During the conference, 55 presenters orgroups of presenters made their research presentations in 19 tracks.
In the course of the conference, two Research Encouragement Awards were selected
and presented to Hisashi OKAMOTO (Kyoto University) for his paper titled “Dismissal
Law for the Purposes of Reorganization and its Influence on Corporate Policies for
Dismissals” and to Ana MATSUMURA (Japan Hewlett-Packard Co.) for her paper titled“Influence of a M&A to the motivation of their staff members.” Unfortunately, no bookwas selected for the Excellent Work Award.
(6) 2009 National Conference
The 39th JSHRM National Conference was held at Tohoku Fukushi University(Miyagi Prefecture) on 31 July to 2 August, 2009 under the major theme, Labor Related
Issues of the Aged Workers in the Aging Society with a Falling Birthrate. A special
lecture was given by Shigeo HIRANO (Chairman, Meister 60 Co.) on the title of“Employment Creation through the Meister 60 Program.” Two symposiums followed
under the sub-theme of “the Aging Society and the Personnel and Labor Management
System” and under the sub-theme of “the Employment Situation of the Aged Workers

29and the Problems Involved.” In the course of the conference, 46 presenters or groups ofpresenters made their research presentations in 17 tracks.
During the conference, the Excellent Work Award was presented to Tomoyo TAKAGI(Keiai University) for her book titled Management of Employment for the Elderly. The
Research Encouragement Award was selected and presented to Katsuyuki NISHIO (NTTTokyo Information & Directory Services Corporation) for his paper titled “A Study ofTransformational Leadership and its Proactive Influence on their Staff.”(Kazuko YOKOYAMA, Toyo Gakuen University)

30

THE JAPANESE SOCIETY OF INSURANCE SCIENCE
1. Brief History and Outline of the Society
Before the Japanese Society of Insurance Science (JSIS) began its activities, anorganized society for studying the insurance business named “Hoken Gakkai” wasfounded in 1895. Though this continued until about 1940, another society called “Nihon
Hoken Gakkai” had been established to study insurance by then, which was in activity
for ten years from 1940 to 1949. Compared with the older societies, JSIS can be
regarded as fittest for socio-economic research study in Japan.
The Inaugural Conference of the Japanese Society of Insurance Science (JSIS) was
held at the University of Tokyo on 24th November 1940, when 218 scholars andinsurance people gathered from across the country. JSIS directed its activities only
toward expanding and deepening studies on insurance. The activities, however, wereinterrupted from 1944 to 1949 because of World WarⅡ, with the exception of the
publication of the society’s journal in 1944. The first meeting after the war was held at
Hitotsubashi University in 1950.
JSIS has aimed at the promotion of studies on risk and insurance, the cooperation
among members for an exchange of observations, ideas, and views as to theoretical andpractical matters related to insurance, and the collaboration with both domestic societies
and organizations and foreign ones. For the achievement of these aims, the Society has
developed the undermentioned activities:
1) General meetings to notify members of the Society’s yearly activities and annual
financial statement.
2) The annual meeting for members’ academic presentations and discussions for twodays in late October, hosted by a university in either the Tokyo Metropolitan area
or some other area every year.
3) Divisional meetings for presentations based on members’ research and surveys
which are held three or four times a year in the Kanto area, the Kansai area, and the
Kyushu area.
4) Publication of the bulletin and other materials to report the Society’s activities.
5) Other activities under the authority of the board of directors.
As of March 2009, the membership of the Society numbers 889, including honorary
members. The chairman of the board of directors is Masayoshi DEGUCHI (University ofTsukuba, Graduate School of Humanities and Social Sciences), who succeeded Seiichi
OCHIAI (Chuo University) in 2008. The Society’s bulletin, Journal of Insurance Science,has been published quarterly since 1951, when its Number 378 was taken over. Number

31

600 was issued as a commemorative publication in March 2008. The latest volume is
Number 605, issued in June 2009. The Annual Meeting for 2008 was held at Dokkyo
University in Saitama in October 2008, and the Annual Meeting for 2009 scheduled tobe held at Ryukoku University in Kyoto in October 2009.
2. Recent Trends of Studies
Insurance is a social system that collects contributions, part of which is reserved tomeet uncertain financial needs, from a large number of economic entities by various
methods, such as making use of probability calculations, and redistributes the funds
through the payment of various kinds of benefits which are related to economic security.
In addition to the systematic, functional and technical characteristics, a huge amount offunds is often reserved and invested in some processes of operation for the insurance
system. Highly developed modern insurance has a deep relation to several societal
phases such as production, distribution, and consumption of physical materials andproperties through a huge amount of money which has a nature peculiar to reservedmoney and also the techniques inherent in insurance. Therefore, the operation of thesystem will exert a great influence on the livelihood and economy of a nation.
Since the collapse of the bubble economy in the first half of the 1990’s, economic
stagnation has continued on up till now. Although the financial economy was activatedunder the movement of deregulation and globalization, insurance companies have been
exposed to severe worldwide financial competition. In these circumstances, several
reforms in the Japanese financial system were promoted, and several laws on financial
businesses have been revised, e.g. supplementary revisions of the Insurance Business
Law after the fundamental reform in 1996, title change and revision from the Securities
Exchange Act to the Financial Instruments and Exchange Act of 2006, and enactment of
the Insurance Law of 2008, which is composed of insurance contract articles extracted
from existing Commercial Law. Then a worldwide financial crisis was instigated in the
U.S.A. in 2008, and the G20 (Group of Twenty Leaders’ Summit on Financial Markets
and the World Economy) announced the necessity of proper regulation for the financial
market.
In addition to the problems of financial markets, Japanese society hassocio-economic issues, for example, declining birth rate, aging society, expanding
numbers of part-time workers, environmental preservation for human life, a range ofsocial security planning, and others. JSIS members involved in research presentations at
an annual meeting or one of the sectional meetings have often dealt with those issues
from various scientific standpoints such as risk management, legal research, economic

32

analysis, and so on. Under those circumstances, JSIS revised the editing policy of the
Journal of Insurance Science in 2005, and adopted a referee system for articles fromthat year. Also, a new publishing policy for book reviews and book reports wasintroduced in 2006 to adapt to Japanese academic circumstances.
Notwithstanding the proposition by the G20, both informationalization andglobalization are the fundamental movements of the early 21st century. Therefore, value
judgments as to business results by economic institutions will be highly integrated into
financial value. Risk matters present a similar case. The 1996 revision of the Insurance
Business Law will continue to be effective in promoting the demutualization of
insurance companies, embarkation on the third market (“Accident, Sickness and
Fixed-amount Insurance” in the newly enacted Insurance Law of 2008) by life andnon-life insurance companies, and entry into the insurance market by small-amount andshort-term insurers under the Insurance Business Law. Because several difficulties arise
from these changes, JSIS must cope with various troublesome problems of risk andinsurance in the near future, early in the 21st century.
3．Report on Annual Conferences from 2002 to 2008
(1) Annual Conference 2002
The Annual Conference 2002, hosted by Meiji University, was held with 243
participants in October 2002. At this meeting, two symposia on the issues of insurance
business trends were called for discussion.
The first one had as its theme “Popularization of Computer Network and Insurance
Business Model” chaired by Takau YONEYAMA (Hitotsubashi University). He presented
an introductory paper titled “Popularization of Computer Network and Insurance
Business Model: An Organizer’s Note for the Symposium”, and then four speakers
presented their papers in the following order: Yutaka YASUDA (Kyoto Sangyo
University), “A Shift of Cost Sharing Model Between Suppliers and Consumers Under
the Popularization of Networking Technology”; Hiroyuki OGOMORI (Insurance Systems
Laboratory Limited), “The Influence of Insurance Business by the Internet
Technology”; Tomoki INOUE (Japan Institute of Life Insurance), “A Study of Consumer
Behavior Under the Internet Information Environment”; Naoki TAKEI (The General
Insurance Association of Japan), “Progress of Internet Technology and the Legal
Environment to Cope with It ― Its Impact on Insurance Business Models and theRelated Issues ―”. Following the four presentations, two commentators expressed theiropinions on this theme, and questions and discussions followed. (See Journal of
Insurance Science, No.581, 2003.)

33

The second one was chaired by Yuichiro TAMURA (University of Marketing andDistribution Sciences), the theme of which was “Corporate Governance and Insurance
Business”. He read a paper as an introductory summary and then four speakers madepresentations as follows: Akira MORITA (Doshisha University), Corporate Governance
Subjects: Recent Commercial Code Revision and Residual Problems”; Taishi OKADA(Kwansei Gakuin University), “Some Issues of Internal Control in Insurance MutualCompany”; Tsutomu CHANO (Sumitomo Life Research Institute), The External Control
Mechanism to The Life Insurance Company” ; Yoshiyuki ATAIGAWA (Nihon Fukushi
University ), Institutional Investors’ Activities for Corporate-Governance”. Following
these presentations, several questions and answers about this symposium theme were
exchanged. (See Journal of Insurance Science, No.580, 2003.)(2) Annual Conference 2003
The Annual Conference 2003, hosted by Fukuoka University, was held with 159
participants in October 2003.
At this meeting, Hisayoshi TAKEDA (St. Andrew’s University) chaired a symposium,
whose theme was “On The Influence on Insurance in the Aged Society”. He read an
introductory summary at the beginning and then four speakers gave presentations asfollows: Shinichi Emile OKA (Meiji Gakuin University), Changing Balance between
Social and Private Security in the Aged Society”; Ken-ichiro NAGANUMA (Nihon
Fukushi University), The Role and the Possibility of Life Insurance in the Aged
Society”; Makoto SANO (Fukuoka University), “Non Life Insurance Industry in the
Aged Society”; Shuya NOMURA (Chuo University), “Insurance Law in the Aged
Society.” After these presentations, discussions were held. (See Journal of Insurance
Science, No.584, 2004.)(3) Annual Conference 2004
The Annual Conference 2004, hosted by Sophia University, was held in October
2004 along with 203 participants. At this meeting, marketing regulations and channels
with respect to insurance business were organized for two symposia.
The one was on the theme of “On Rethink on the Regulation of Insurance Sales inJapan”, which was chaired by Osamu TAKEHAMA (Ritsumeikan University). He read an
opening remark at the beginning and then three speakers made presentations as follows:
Masahiko EZAWA (Waseda University), Information Systems for Insurance Prospects
and Customers”; Aken BAN (Tokyo Metropolitan University), “The Validity andConstruction of Anti-Rebate Statute”; Akihiko UMETSU (Tohoku Gakuin University),“Providing Comparative Information to Insurance Consumers.” After thesepresentations, questions and answers were made.（See Journal of Insurance Science,34

No.587, 2004.）
The other was on the theme of “Current and Future Problems in an Increasing
Variety of Distribution Channels”, which was chaired by Masayoshi DEGUCHI(University of Tsukuba). He read an introductory summary at the beginning and thenfour speakers made presentations as follows: Tomio IGUCHI (Ryukoku University),“Industrial Organization on Insurance Distribution Systems”; Isao OGAWA (Shiga
University), “Risk and Problem of Bank Agent System at Start-up Era of Life Insurance
Companies in Japan”; Hideya KUBO (Kobe University), “The Prospects of the JapaneseLife Insurance Market and Marketing Channels by the Analysis of Macro Indexes−The
Suggestion to Japan Through the International Comparison on Markets and Marketing
Channels”; Koji KINOSHITA (Doshisha University), “Issues on The Insurance Sales
Regulation in The Age of Diversified Distribution Channels”. After these presentations,
there was keen exchange of questions and answers. (See Journal of Insurance Science,
No.588, 2005.)(4) Annual Conference 2005
The Annual Conference 2005, hosted by Otaru University of Commerce, was heldin October 2005 along with 145 participants. At this meeting, two symposia wereconducted with respect to population movement and unregulated Kyosai.
One, which Yuichiro TAMURA (University of Marketing and Distribution Science)chaired, was on the theme of “Insurance Industry and Birth-Rate Declining Society”. He
read an introductory remark first, and then three speakers gave presentations as follows:
Susumu HAYASHI (Japan Institute of Life Insurance), “Socio Economic Safety Net andSelective Behavior for Insurance − A Study of Simulation Model − ”; Takuya
YOSHIZAWA (Tokio Marine and Nichido Fire Insurance Co., Ltd.), “Insurance Businessin the Declining Birth Ratio, Changes in Insurance Business”; Mariko NAKABAYASHI(Meiji University), “Efforts against Declining Birth Ratio and Corporate Strategies of
Insurance Companies−From the Perspective of Corporate Social Responsibility−”.
After these presentations, participants exchanged questions and answers with respect tothe theme. (See Journal of Insurance Science, No.591, 2005.)
The other, which Takuma ISHIYAMA (Nihon University) chaired, was on the themeof “Concerning General Study of so-called ‘Unregulated Kyosai’ ”. He read an
introductory remark first, and then five speakers gave presentations as follows: Ryou
MATSUZAKI (Higashi Nippon International University), “The Point at Issue of the
Security without Basic Law and How the Security Should be Regulated by Law−In the
System of the Security”; Tadayuki OSHIO (Meiji University), “A Study of Co-operative
Insurance and ‘Unregulated Kyosai’ ― From Viewpoint of Economic Theory of35

Insurance”; Toshikazu MURATA (Nippon Life Insurance Mutual Company), “TheDevelopment of the Regulation Regarding Unregulated Kyosai and Future Direction ofRegulated Kyosai−From the Viewpoint of the Definition of Insurance Contract andInsurance Business and Regulations on Corporate Organizations”; Hironobu TAZUME(Sompo Japan Insurance Inc.), “The State of the Risk Transfer by the Reinsurance of a
Small-amount and Short-term Insurer”; Miho ONZO (Takachiho University), “The
Unregulated Kyosai and Disclosure System”. After these presentations, questions andanswers were exchanged fervently by participants. (See Journal of Insurance Science,
No.592, 2006.)(5) Annual Conference 2006
The Annual Conference 2006, hosted by Chuo University, was held with 240
participants in October 2006. In this meeting, two symposia were organized with respect
to Private Medical Insurance and Catastrophe Disaster Insurance.
The former was themed as “Problems and Future of Private Medical Insurance” andchaired by Kazuyoshi HOTTA (Keio University). At the opening, he raised questions
concerning “Present Situation and Structural Character of Private Medical Insurance”
and then four speakers made presentations in the following order: Miyoharu KOBAYASHI(The Dai-ichi Mutual Life Insurance Company), “Problems in private medical insurance
from the point of view of insurance medicine”; Hiroshi AKETA (NLI Research Institute),“Risk management in private medical insurance business”; Kimito AMARI (Sophia
University), “Legal Issue of Medical Expense Insurance”; Takashi NAKAHAMA (Otaru
University of Commerce), “The Role of Private Health Insurance: A Comparison
between Japan and the United States”. After these presentations, discussions among the
symposists were held and then questions and answers were exchanged between the
speakers and their audience. (See Journal of Insurance Science, No.596, 2007)
The latter was entitled “Concerning to Catastrophe Disaster and Insurance” andchaired by Shuya NOMURA (Chuo University). He read an introductive remark at the
opening and then four speakers presented in the following order. Kazuki KOKETSU(University of Tokyo), “Possible Great Earthquake Disasters”; Atsushi TAKAO (Kobe
University), “Earthquake Risk and Possibility of Economic Compensation: Transition
Process of Earthquake Risk Management of the Oriental Land Co, Ltd.”; Shin-ichi
YAMAMOTO (Ritsumeikan University), “Catastrophe Risks Inherent in Japanese Life
Insurance”; Naoki TAKEI (The General Insurance Association of Japan), “Study ofCurrent Development of Japanese Earthquake Insurance and Its Future Perspective”.
After these presentations, questions and answers were exchanged between the speakers
and their audience. (See Journal of Insurance Science, No.597, 2007.)36

(6) Annual Conference 2007
The Annual Conference 2007, hosted by St. Andrew’s University, was held in
October 2007 along with 224 participants. In this meeting, two symposia were calledwith respect to the fair payment for policyholders and the amendment of insurance law.
One was themed on “The Discussion about a Fair Payment for Policyholders inJapanese Insurance Business” and chaired by Tatehiko FUJITA (Shudo University ofHiroshima). He presented “Fair Payment for Policyholders in Japanese Insurance
Business” as an introductory remark. And then three speakers presented as follows:
Yasuhiro IWASE (Fukui Prefectural University), “Management Issue in JapaneseInsurance Business toward a Fair Payment for Policyholders”; Tomoka MIYACHI (Keio
University), “A Study on Consumer Protection in Japanese Insurance Business”;
Masayoshi DEGUCHI (University of Tsukuba Graduate School of Humanities and Social
Sciences), “Discussion about a Fair Payment for Policyholders and Insurance
Regulation”. After the presentations, plenty of questions and answers were exchanged
between the speakers and their audience. (See Journal of Insurance Science, No.601,
2008.)The other had as its theme “Amendment of the Commercial Law and Insurance
Business” and was chaired by Tomio IGUCHI (Ryukoku University). He pointed out
some issues in an introductory remark at the beginning and then five speakers madetheir presentations as follows. Hiroshi SUZAKI (Kyoto University), “The Modernizationof Insurance Contract Law”; Shigenori ISHIDA (Yamaguchi University),“Economic
Analysis of Revised Insurance Contract Law−On the Rule of Notice−”; Michio
KOBAYASHI (Shizuoka University), “Modernization of Insurance Contract Law−Insurer
and Insurance Intermediarie’s Duty of Disclosure at the Pre-Contract Stage−”; Joe
TAGUCHI (The Dai-ichi Mutual Life Insurance Company), “Influences of the Revision of
the Insurance Contract Law over Insurance Business−Mainly on an Argument ofIntroduction of ‘pro-Rata Principle’, of the Insurance of the Minor − ”; Takuya
YOSHIZAWA (Tokio Marine & Nichido Fire Insurance Co., Ltd.), “The Impact ofModernization of Insurance Contract Law on Non-Life Insurance Business”. After thepresentations, questions and answers were exchanged between the speakers and theiraudience. (See Journal of Insurance Science, No.599, 2007.)(7) Annual Conference 2008
The Annual Conference 2008, hosted by Dokkyo University, was held in October
2008 along with 224 participants. In this meeting, two symposia were called withrespect to the examination of insurance market liberalization and the conception of
insurance.

37

The theme of one was “Examination of 10 years after Liberalization” and waschaired by Tomonobu YAMASHITA (The University of Tokyo). He pointed out someissues about the theme as his introductory remark and then 4 speakers madepresentations on their themes as follows. Kazuyoshi HOTTA (Keio University),“Insurance Liberalization and Consumers’ Benefit: Focusing on the P/C Industry”;
Takau YONEYAMA (Hitotsubashi University), “Transition of Post-war Insurance System
into New System: What is Liberalization in Life Insurance?”; Toshiro UEYANAGI (Tokyo
Surugadai Law Offices, Waseda Law School), “10Year Deregulation of Insurance Laws
and Consumer Affairs”; Nobuyasu UEMURA (Rating & Investment Information Inc.),“Risk Management in Japan’s Insurance Industry”. After the presentations and somediscussions among speakers, several questions and answers were exchanged between
the speakers and their audience. (See Journal of Insurance Science, No.604, 2009.)
The other was themed as “What is Insurance in the Modern Time?” and chaired by
Kuniaki ISHINAZAKA (Komazawa University). He read some introductory remarks andthen 5 speakers made presentations on their themes as follows: Masahiko EZAWA(Waseda University), “The Border between Stock or Mutual Company-insurance andCooperative-insurance”; Akihiko UMETSU (Tohoku Gakuin University), “Taking theLegal Character of Insurance Contract into Consideration Again: The Utmost Good
Faith in Insurance Contract”; Noboru MATSUZAWA (Nippon Life Insurance Company),“Consideration about a Framework of the Comprehensive Investment Services Law−
Must Life Insurance be Regulated as a Kind of Investment?−”; Kazuhiro GOTO (MSK
Research Institute Co., Ltd.), “Risk Service Industries − Differences of Financial
Institutions are Becoming Smaller ― ”; Yuji MORIMOTO (Capitas Consulting
Corporation), “Reconsidering insurance products based on the recent international
movement”. After the presentations, lively questions and answers were exchanged
between the speakers and their audience. (See Journal of Insurance Science, No.605,
2009.)
4. International Exchange
JSIS is the Japan Chapter of l’Association Internationale de Droit des Assurances(AIDA: International Association for Insurance Law), which holds a World Congress
every four years. The 12th AIDA Quadrennial Congress, hosted by the Argentina
Chapter, was held in Buenos Aires on October 16-19, 2006. One of the Congress’s
themes was “Insurance, Reinsurance and the Impact of Terrorism”, and the other was“Influence of Scientific and Technological Innovations on the Individual Insurance”.
Koichi OTANI (Waseda University) and Keiji HABARA (Kansai University) attended the38

Congress as the delegation from JSIS.
In addition to the association with AIDA, JSIS has maintained a close relationshipwith the Korean Insurance Society (KIS). Both of them have exchanged speakers andrepresentatives every year to promote the academic exchange and mutual understanding
between their members. Furthermore, JSIS was established friendly relationships with
the Asia-Pacific Risk and Insurance Association (APRIA) through some members who
belong to them both.
(Yuhji OHGI, Okayama Shoka University)

39

THE JAPANESE ASSOCIATIONFOR INTERNATIONAL ACCOUNTING STUDIES (JAIAS)
1. International Convergence of Accounting Standards and Role of JAIASThe Japanese Association for International Accounting Studies (JAIAS) has
achieved key roles for the development of international accounting research andeducation in Japan since it was established in 1984.
It is possible to nominate comparative study of accounting systems, accounting
problems for multinational enterprises, and international harmonization of accounting
standard as problem themes in international accounting research, but in recent years, theproblem of convergence with International Accounting Standards/International
Financial Reporting Standards (IAS/IFRS) and our own accounting standards has
become a main theme of international accounting research.
IAS/IFRS demands a paradigm switch detailed below:a) from revenue-expense approach to asset-liability approach,b) from individual financial statements to consolidated financial statements,c) from historical cost valuation to fair value valuation,d) from distributable income to information for investors’ decision-making.
International uniformity of Accounting Standards based mainly on IAS/IFRS has
progressed rapidly since the European Union (EU) mandated the application of
IAS/IFRS for the consolidated financial statements of listed companies in member
states from 2005.
In such a situation, it has become critical how the accounting system of Japan with
its long tradition can accomplish a rapid paradigm switch to convergence with
IAS/IFRS.
JAIAS is discussing the issue from such points of view as how the differences with
IAS/IFRS can be resolved, what kind of institutional response is needed, and what kindof accounting strategy should be adopted to raise the international influence of Japanin Standards-making process of International Accounting Standards Board (IASB). The
study by JAIAS is very meaningful for institutional action for convergence with
IAS/IFRS in our accounting standards. In addition, JAIAS argues for the significance ofinternational accounting studies and the role of JAIAS in the new accounting age where
the accounting standards of each country will be unified mainly on IAS/IFRS.
The mission of JAIAS is to promote research in international accounting. In orderto achieve this mission, an annual conference is held, and an annual report (Bulletin ofJapanese Association for International Accounting Studies) is published.

40In order to promote international cooperation, JAIAS has exchanges with theInternational Association for Accounting Education and Research (IAAR), theAmerican Accounting Association (AAA), the European Accounting Association (EAA),
the Asian Academic Accounting Association (AAAA), and the Korean Accounting
Association (KAA). With KAA in particular, members concerned (including theex-President of KAA) visited Japan in September, 2005, and Professor Yoshihito KAKO
(president of JAIAS) reported at a general meeting of KAA in June, 2006 and was able
to deepen the exchange.
JAIAS now has 636 individual members, 6 institutional members, and 14 honorary
members.
2. A Brief Description of the Annual Conference and Main Themes Since 2002
Annual Conferences of JAIAS are held once a year for two days. The conference isdivided into two parts, one of which is the main theme session, and the other is theconcurrent session. The topics chosen as the main themes at each conference represent
key issues of international accounting studies at that time.
The 19th Annual Conference in 2002
The 19th Annual Conference was held at Chubu University in Kasugai on August
29 and 30. The main theme of this conference was Roles of Accounting in different
Social Cultural and Economical Environments and an international symposium washeld under this theme. The four paper titles presented in the symposium were:① Shahrokh M. SAUDAGARAN (Oklahoma State University, USA) and Joselite DIGA
(University of the Philippines) “Accounting Development and the Nexus ofDomestic-Global Interests in Developing Countries”② Mustafa Mohd HANEFAH (Universiti Utara Malaysia, Malaysia) “AccountingStandard Setting and Corporate Governance in Malaysia”③ Ruoshan LI (Fudan University, China) “Perspectives on CPA’s Liability and CPA
Law Revision”④ Chungwoo SUH (Kookmin University, Korea) and Yong-Min KIM (Kookmin
University, Korea) “An International Comparison of the Roles of the Corporate
Audit Committees in Korea, Japan and the United States.”
The 20th Annual Conference in 2003
The 20th Annual Conference was held at Rikkyo University in Tokyo on August 27
and 28. The main theme of this conference was International Convergence of41

Accounting Standards, and the Present State and Issues of the Accounting Disclosure
System in Japan. There were four presenters in the main theme session and six
presenters in the concurrent session. The four paper titles presented in the main theme
session were:① Chikako OZU (University of Shizuoka) “International Accounting Standards
Convergence Through the Process of Accounting Technology Transfer: Analysis andComment”② Kazuyuki SUDA (Kobe University) “International Classification of AccountingStandards by Cluster Analysis”③ Takashi OBINATA (University of Tokyo) “Issues in International Harmonization of
Accounting Standards”④ Tatsumi YAMADA (International Accounting Standards Board) “IASB Update.”
The 21st Annual Conference in 2004
The 21st Annual Conference was held at Kansai University in Osaka on December
11 and 12. The main theme of this conference was International Convergence of
Accounting Standards and Selection of Japan. There were four presenters in the main
theme session, six presenters in the concurrent session and seven presenters in the twomini-theme sessions. The four paper titles presented in the main theme session were:① Kazuo HIRAMATSU (Kwansei Gakuin University) “Mutual Recognition andInternational Convergence of Accounting Standards”② Tatsumi YAMADA (International Accounting Standards Board) “Activities of the
IASB toward the Convergence of Accounting Standards”③ Akio OKUYAMA (JICPA) “Convergence of Accounting Standards and Transparencyof Financial Information”④ Shizuki SAITO (Meiji Gakuin University) “International Convergence of AccountingStandards: Practical Goal, Present State, and Future Prospect.”
The 22nd Annual Conference in 2005
The 22nd Annual Conference was held at Waseda University in Tokyo on August
25 and 26. The main theme of this conference was Re-challenge to International
Accounting. A Symposium was held under this theme, for which the chairman was
Professor Yoshikuni HIROSE (Waseda University), the keynote spesker was Professor
Kazuo HIRAMATSU (Kwansei Gakuin University) and panelists were Professor KeikoKITAMURA (Chuo University), Professor Yoshihiro TOKUGA (Kyoto University), Mr.
Tsuguoki FUJIMURA (JICPA), Professor Akiko FUJITA (Meiji Gakuin University),42

Professor Yoshinori KAWAMURA (Waseda University).
There were another seven presenters in the concurrent session.
The 23rd Annual Conference in 2006
The 23rd Annual Conference was held at Doshisha University in Kyoto on
September 22 and 23. The main theme of this conference was Accelerating International
Convergence of Accounting Standards and Institutional Reformation in Japan. There
were four presenters in the main theme session and six presenters in the concurrent
session. The four paper titles presented in the main theme session were:① Ikuo NISHIKAWA (Accounting Standards Board of Japan) “Japanese AccountingStandards and International Convergence”② Hideki FUJII (Kyoto University) “Convergence of Accounting Standards andInstitutional Reformation in Japan: With Special Reference to the EU’s Assessmentof Equivalence between Third Country GAAP and IAS/IFRS”③ Chikako OZU (Kyushu University) “The Adoption of the Internationally Converged
Accounting Standards in the EU: Review and Outlook”④ Kenji TANAKA (Waseda University) “International Convergence of AccountingStandards and the Japanese Challenge.”
The 24th Annual Conference in 2007
The 24th Annual Conference was held at Aoyama Gakuin University in Tokyo on
November 24 and 25. The main theme of this conference was International
Convergence of Accounting Standards and Beyond. There were five presenters in themain theme session and six presenters in the concurrent session. The five paper titles
presented in the main theme session were:① Naohiro URASAKI (Kinki University) “Issues Related to Global Convergence of
Accounting Standards”② Tokuei SUGIMOTO (Kwansei Gakuin University) “The Movement of the Acceptanceof International Financial Reporting Standards (IFRSs) and Unresolved Issues for
the Future in the United States”③ Ichiro MUKAI (Aichi Gakuin University) “The Accounting Strategy to theInternational Convergence of Accounting Standards in Japan”④ Yoshiko SHIRATA (Tsukuba University) “Globalization of Accounting Information
Disclosure System ― Introducing XBRL”⑤ Norio IGARASHI (Yokohama National University) “Response of the Compliance
Advisory Panel of the International Federation of Accountants.”

43

The 25th Annual Conference in 2008
The 25th Annual Conference was held at Fukuoka University in Fukuoka on August
30 and 31. The main theme of this conference was International Accounting afterConvergence of Accounting Standards. There were three presenters in the main theme
session, ten presenters in the concurrent session and one study group report (Chairman:
Kentaro NOMURA). The three paper titles presented in the main theme session were:① Kozo OHSAKI (KPMG NY) “The Accounting Profession after International
Convergence of Accounting Standards”② Ikuo NISHIKAWA (Accounting Standards Board of Japan) “Application of IFRS to
Enterprises in Japan”③ Hisakastu SAKURAI (Kobe University) “Accounting Studies after International
Convergence of Accounting Standards.”(Yuji OSHITA, Hosei University)

44

JAPAN ACADEMY OF INTERNATIONAL BUSINESS STUDIESI.

Foundation and Objectives

The Japan Academy of International Business Studies (JAIBS) was founded in July
1994 as the first academic society to study international business in Japan. The
Academy aims at providing a global forum of intellectual exchange andcross-disciplinary collaboration on important issues of international business frominterdisciplinary perspectives. Interdisciplinary perspectives in concrete terms means
encompassing various academic fields such as international management, comparative
business studies, international economics, international relations, international law,international sociology and cross-cultural communication. The Academy is naturally an
academic organization with a complement of scholars and researchers; however, it also
invites active participation from practitioners in the business world to create asynergistic effect and to jointly make contributions of an international scope with
impact on the greater society.
In the 15 years since its inception, the Academy has grown and prospered under theactive leaderships of three Presidents, i.e., from 1994 to 2000, Yasuo OKAMOTO,
Emeritus Professor of Tokyo University; from 2000 to 2006, Kenichi ENATSU, Emeritus
Professor of Waseda University; and from 2006 to present, Kiyonori SAKAKIBARA,
Professor of Keio University. Specifically, the Academy’s current membership hasgrown to include 736 individual members and 4 corporate members.
The Academy regularly promotes an extensive range of academic activities that
include, for example, the hosting of collaborative research meetings with the Japan
Academy for International Trade and Business, as well as joint symposiums with theJapan Society for Human Resource Management, for purpose of enhancing in-depth
academic exchanges with related societies. Starting in 2006 (from the 13th annual
conference onwards), the Academy further established an annual JAIBS Excellent
Dissertation Award to recognize and encourage young graduates who publish
outstanding research work at the start of their careers.
Besides its research oriented activities, as befits the Academy’s nature as an
academic organization in the study of international business, many of its members
actually undertake to visit a number of countries for the purpose of conducting researchin the field. In similar fashion, being a part of the larger global village, Academy
members also actively engage with the rest of the world through making donations andoffering assistance to various natural disasters relief programs such as those related to45recent earthquakes. As an academic society centered on the study of international
business, JAIBS through its various research and other activities hopes to make its own
contribution towards building a better society for the world on a continuous basis.
II. Annual Conferences from 2003 to 2008
Among a variety of activities of the Academy, the annual conference held in falleach year is considered its most important function. The conference theme of each year
reflects the business and economic environment of the time; and the keynote speeches
and the papers presented signify the current research focus, concerns and issues that are
widely shared among the academic researchers and business practitioners. It is,therefore, useful and informative to review the chronological history of the Academy’s
annual conferences and to see how the Academy has evolved over the past years. Since
the first nine annual conferences from 1994 to 2002 have been reported in the
Information Bulletin of the Union of National Economic Associations in Japan, No. 23,
previously, we shall summarize in the following the annual conferences from 2003 to2008 for the most recent six years.
1. The 10th Annual Conference in 2003 (Meiji University)
Conference Theme 2003: Rejuvenation of Japanese Industries and Corporations:Global Perspectives
Keynote Speech I: Hironori SHIRAMIZU (Toyota Motor Corporation):“The Current Globalization of Toyota and its Challenges”
Keynote Speech II: Suehiro NAKAMURA (Sony-Nakamura Management Institute):“Rejuvenation through Production in Sony ― the ‘Create + Manufacture’ DNA
Inside Sony”
Moderator: Takahiro FUJIMOTO (University of Tokyo)
Research Report I: Haruo HORAGUCHI (Hosei University):“Multinational Corporations and Economic Policies ― Strategic Diversification ofTax Policy and Rejuvenation of Japanese Industries”
Commentator: Ken-ichi YASUMURO (Kobe University of Commerce)
Research Report II: Nobutaka KAZAMA (Meiji University):46

“Globalization Strategy and Management System Reform of German Automobile
Manufacturers - Rejuvenation of Japanese Corporations and Industries along with
its Challenges through a German Viewpoint”
Commentator: Shiro TAKEDA (Nihon University)
Moderator: Hideki YOSHIHARA (Kobe University)
2. The 11th Annual Conference in 2004 (Kwansei Gakuin University)
Conference Theme 2004: Global Strategy of Service Enterprises
Keynote Speech I: Yuji HIRANO (Nippon Yusen):“Global Logistics Strategy in International Marine Transportation”
Keynote Speech II: Hiroshi ITOH (Accenture):“New Strategies in Global Consulting Business”
Keynote Speech III: Tadahiro AIKAWA (USJ):“Universal Studio Japan – The Business of Large Entertainment Tourism Facilities
Invested by Foreign Capital”
Moderator: Ken-ichi YASUMURO (Kobe University of Commerce)
Research Report I: Mitsuhide SHIRAKI (Waseda University):“HRM and the Expansion of Global Retailers in Asia”
Commentator: Takeshi OHTOWA (Hiroshima City University)
Research Report II: Yuko KAWAMOTO (Waseda University):“Possibilities of Overseas Outsourcing for Service Industries”
Commentator: Hideki YOSHIHARA (Kobe University)
Moderator: Shigeto MOROKAMI (Meiji university)
3. The 12th Annual Conference in 2005 (Hiroshima City University)
Conference Theme 2005: The Evolving International Business
Keynote Speech I: Seita KANAI (Matsuda Corporation):“Globalization of Matsuda – A Report from the Field”
Moderator: Masataka OTA (Waseda University)
Keynote Speech II: Jean Louis MUCCHIELLI (University of Paris):“Relocation and Multinational Firms’ Strategy: An Analysis from the French
Viewpoint”
Moderator: Shinji HASEGAWA (Waseda University)
Interpreter: Chiwaki SHINODA (Hiroshima City University)47

Research Report I: Koichi SHIMOKAWA (Tokai Gakuen University):“The Evolving Global Strategy and Global Management – Focusing on Global
Business Development of a Worldwide Automobile Industry”
Commentator: Yasuo OKAMOTO (Bunkyo Gakuin University)
Moderator: Nobuo KAWABE (Waseda University)
Research Report II: Toshimasa ASAKA (Matsushita Electric Industries):“Global Management of Matsushita Electric Company at the Crossroads”
Commentator: Yasuo SUGIYAMA (Kyoto University)
Moderator: Nobuo KAWABE (Waseda University)
Research Report III: Yoshiya TERAMOTO (Waseda University):“Issues and Pre-conditions for Corporate Governance Reform in the 21st Century”
Commentator: Junjiro SHINTAKU (University of Tokyo)
Moderator: Yoshiharu KUWANA (Chiba University of Commerce)
4. The 13th Annual Conference in 2006 (Waseda University)
Conference Theme 2006: The International Knowledge Management in Asia
Keynote Speech I: Kimiyasu NAKAMURA (Nissan Motor Company):“The Knowledge Management of Nissan Motor Company in China”
Keynote Speech II: Sun-won BANG (Samsung):“Internationalization Strategy of Samsung”
Moderator: Nobutaka KAZAMA (Meiji University)
Research Report I: Takashi UMEZAWA (Kokushikan University):“International Specialization between Japan and China in the Software Industry”
Commentator: Masahiro IDA (Hannan University)
Moderator: Hideki YOSHIHARA (Nanzan University)
Research Report II: Masaaki KOTABE (Temple University):“Is Outsourcing What It’s Cracked Up to Be or Just a Fad?”
Commentator: Tomoaki SAKANO (Waseda University)
Moderator: Hideki YOSHIHARA (Nanzan University)
Special Program: Combined Symposium with Japan Society of Human Resource
Management“The Expansion of Multinational Corporations in Asia and Human Resource
Development”

48Panelists: Masanobu FUKUTANI (Ritsumeikan Asia Pacific University), Nobuko
HOSOGI (Sophia University), Shiho NAKAMURA (Takamatsu University), Isao
TANNO (Kanagawa University)
Moderator: Mitsuhide SHIRAKI (Waseda University)
5. The 14th Annual Conference in 2007 (Takasaki City University of Economics)
Conference Theme 2007: Expanding Emerging Markets and International Business
Keynote Speech I: Norihisa ANDO (Satyam Computer Services)“Present Conditions and Future Outlook of India’s IT Enterprises”
Moderator: Takashi UMEZAWA (Kokushikan University)
Keynote Speech II: Hiroshi MORIMOTO (Oracle):“The Practice of Goal-Setting, Talent Development and Relationship Building in
Global Business Development Based on 15 Years of Experience in India”
Moderator: Ken-ichi ENATSU (Waseda University)
Research Report I: Tran Van THO (Waseda University):“Emerging Economy of Vietnam and Multinational Corporations”
Commentator: Isao TANNO (Kanagawa University)
Research Report II: Izumi SAKAGUCHI (Japan Association for Trade with Russia &NIS):“The Potential of Russia’s Consumer Market and its Characteristics”
Commentator: Masakazu IMAI (Takasaki City University of Economics)
Moderator: Mitsuhide SHIRAKI (Waseda University)
Research Report III: Noboru MAEDA (Aoyama Gakuin University):“Global Integration in 2030: The role of BRICs and Japan – How to Deal with
Seven Major Imminent Competitive Elements”
Moderator / Commentator: Ken-ichi YASUMURO (University of Hyogo)
Workshop I: “Influx of Guest Workers and Transformation of Regional
Economy”
Panelists: Megumi YUKI (Gunma University), Takashi HAYASHI (Nanzan
University), Shinichi KIGUCHI (Ministry of Economy, Trade and Industry)
Chairman: Motohiro KUROKAWA (Takasaki City University of Eonomics)
Workshop II: “International Business and Standardization (1st Round)”49

Panelists: Manabu ENDO (Ministry of Economy, Trade and Industry), Masami
KAJIURA (Aichi Gakuin University), Shinji SAKAI (Canon)
Chairman: Ken-ichi YASUMURO (University of Hyogo)
Workshop III: “Architecture and International Specialization in Liquid Crystal
Display Industry”
Panelists: Young-Won PARK (University of Tokyo), Jun-ichi TOMITA (ToyoUniversity), Hirofumi TACHIKI (University of Tokyo), Tetsuo YOSHIMOTO(Ritsumeikan University)
Commentator: Bon-Kwan KOO (Samsung Economic Research Institute), Lei SONG
(Peking University)
Chairman: Junjiro SHINTAKU (Tokyo University)
6. The 15th Annual Conference in 2008 (Okayama University)
Conference Theme 2008: International Business and Diversity Management
Keynote Speech I: Masahiko EZAKI (Kumon): “Present Conditions of Overseas
Expansion of Kumon and Endeavour and Determinants Enabling It”
Moderator: Ken-ichi ENATSU (Waseda University)
Keynote Speech II: Kuniaki HAGIWARA (Hagiwara Industrial Corporation): “TheImportance of Management and Company Culture in Global Business”
Moderator: Satoru ENOMOTO (Okayama University)
Research Report I: Sadanori ARIMURA (Yamaguchi University):“Japanese Companies and Diversity Management ― from Handicapped
Employment Point of View”
Commentator: Hideki YOSHIHARA (Nanzan University)
Research Report II: Mami TANIGUCHI (Waseda University):“Diversity Management in Organizations”
Commentator: Emiko MAGOSHI (J. F. Oberlin University)
Moderator: Hideko KONO (Tokyo Fuji University)
Workshop: “International Business and Standardization (2nd Round)Standardization and Intellectual Property Strategies”
Panelists: Masami KAJIURA (Aichi Gakuin University), Yasuro UCHIDA (Toyama
University), Nobutada FUJIYOSHI (Konica Minolta)
Chairman: Ken-ichi YASUMURO (University of Hyogo)50Symposium: “Application of Technology Seeds in Research Institutions of Asiaand the Resultant Influence of Strategic Industry-Academia-Government
Collaboration”
Report 1: Haruomi SHINDO (Myojo University)
Commentator: Toshimasa ASAKA (Konan University)
Report 2: Katsuhiro INAMURA (Tokai University)
Commentator: Tatsuo KINBARA (Hiroshima University)
Chairman: Yukio KIMURA (National Institute of Advanced Industrial Science andTechnology)
III. Journal and Newsletter Publications
From its founding in 1994 until 2008, each year the Academy publishes the Annual
Bulletin of the Japan Academy of International Business Studies, which featurespeer-reviewed papers and reports contributed by speakers and presenters selected in theprevious year’s conference. Starting in 2009, the Academy changed its annual
publication into a bi-annual peer-reviewed journal format called the Journal ofInternational Business, the first volume of which was already published in April 2009.
This new journal is expected to accommodate future growth in both quality and quantityof research papers.
In addition, a JAIBS Newsletter that is published bi-annually plays an importantrole in public information dissemination, e.g., reporting on the nationwide conferences,financial reports, introduction of upcoming chapter events and detailed contents related
to other activities.
IV.

Other Activities

In addition to the annual conferences, there are also chapter-based workshop
meetings. Currently, the Academy has six active chapters nationwide; of which two
chapters are organized under the Kanto Branch and four chapters under the Kaisai
Branch. In the Kanto area, the two chapters are as follows: (i) Hokkaido & Northeast
Chapter (Chapter Chief: Satoshi IWATA of Hokkaido University); and (ii) Kanto Chapter(Branch/Chapter Chief: Shigeto MOROKAMI of Meiji University). Together these twochapters hold six workshop meetings annually. In the Kansai area, the four chapters are
as follows: (i) Chubu Chapter (Chapter Chief: Kenji ITO of Meijo University); (ii)51

Kansai Chapter (Branch/Chapter Chief: Takeshi FUJISAWA of Kwansei Gakuin
University); (iii) Chugoku/Shikoku Chapter (Chapter Chief: Takeshi OHTOWA of
Hiroshima City University); and (iv) Kyushu Chapter (Chapter Chief: Kiyoaki
SHIOTSUGU of Kyushu University). Together these four chapters hold six workshop
meetings annually as well. The workshop meetings are well-attended by members andprovide excellent opportunities for professional exchange of information and ideas aswell as for discussions among the members in a less formal atmosphere on a regularbasis.
To coordinate its active schedule of events and to keep its members well-informed,e.g., from issuing calls for papers related to annual conferences to publicizing
chapter-based local activities, the Academy periodically disseminates a wide range ofnews and information in the form of an electronic newsletter.
The Academy provides research grants to promising young researchers toencourage and support their budding careers. The Academy also gives awards tooutstanding research papers and books contributing to the advancement of international
business studies. A list of the JAIBS Awards for the past six years from 2003 to 2008 issummarized in the next section.
V.

List of JAIBS Awards[2003 JAIBS Academic Award for the Most Promising Paper of the Year]
Shige MAKINO, Chung-Ming LAU, Rhy-Song YEH, “Asset-Exploitation Versus
Asset-Seeking: Implication for Location Choice of Foreign Direct Investment from
Newly Industrialized Economies” (Journal of International Business Studies, December
2002)[2004 JAIBS Academic Award for the Best Book of the Year]Lin KOU, Emerging Markets Strategies - Global Network and Marketing Innovation,
Chikura Publishing, 2003.
[2004 JAIBS Academic Award for the Most Promising Paper of the Year]
Norihiko TAKEUCHI, Mitsuru WAKABAYASHI, Ziguang CHEN, “The Strategic HRM
Configuration for Competitive Advantage: Evidence from Japanese Firms in China andTaiwan” (Asia Pacific Journal of Management, 20, 2003)[2005 JAIBS Academic Award for the Best Book of the Year]52

Ken-ichi ANDO, Japanese Multinationals in Europe: A Comparison of the Automobile
and Pharmaceutical Industries, New Horizons in International Business, 2005.
[2006 JAIBS Academic Award for the Most Promising Paper of the Year]
Yasuo HOSHINO, Ilian P. SOMLEV, “Influence of Location Factors on Establishment andOwnership of Foreign Investment: The Case of the Japanese Manufacturing Firms in
Europe” (International Business Review, Vol.14 Issue 5, 2005)[2006 Excellent Dissertation Award]
Koichi NAKAGAWA, “Business Architecture and an Interfirm Division of Labor
Structure: How do Firms Cope with the Modularity Traps?” (The Annual Bulletin Japan
Academy of International Business Studies, No.12)[2007 JAIBS Academic Award for the Best Book of the Year]
Toru TAKAI, Creation of Global Business, Chikura Publishing, 2007.
Takahide YAMAGUCHI, Organizational Ability of Multinational Corporations ―Japanese Mother Factory System, Hakuto Shobo, 2006.
[2007 Special Award]
Bin LUAN, A Research on Transference and Development of Technology and Core
Competence Formation ― The Status Quo and Outlook for Japanese Companies in
China, University Education Press, 2007.
[2007 Excellent Dissertation Award]
Tadashi HAYASHI, “Does Foreign Direct Investment in R&D Increase the Flow of
Knowledge Spillover to the Investing Firms? An Analysis of Japanese Pharmaceutical
Firms” (The Annual Bulletin Japan Academy of International Business Studies, No.13)[2008 JAIBS Academic Award for the Best Book of the Year]
Ryuhei WAKASUGI Modern International Trade: Micro-data Analyses, Iwanami Shoten,
2007.
[2008 Excellent Dissertation Award]
Kazumi TADA, “The Process of Product Development Activities in a Subsidiary: A
Case Study of Coca-Cola (Japan)” (The Annual Bulletin Japan Academy ofInternational Business Studies, No.14)53Note: The Excellent Dissertation Award was started in 2006 to recognize the best paper
published in the Annual Bulletin of JAIBS whose author is a graduate under 35 years
old. The former Encouragement Award for papers was terminated in 2003. Instead the
JAIBS Awards comprise the Best Book of the Year Award and The Most Promising
Paper of the Year Award. With the establishment of the Excellent Dissertation Award
starting in 2006, the annual JAIBS Awards at present consist of three Awards in total.
(Yoko INOUE, Nihon University)

54

NIPPON ACADEMY OF MANAGEMENT EDUCATION
1. Mission and Vision
Nippon Academy of Management Education was established on June 30, 1979 byProfessor Akira YAMASHIRO, one of the pioneers on management in Japan. The
Academy has over 30 years’ history.
Our mission is to create new knowledge and to develop human resources throughboth academic study and practical experience for management. Subjects of research in
the Academy are management both in profit-making business and in non-profit
organizations.
Our vision for the Academy is “practical management with theory and practice”, andour goal is to contribute to business leaders and managers by researching, developing
and practicing management education. Although there are many other related
management institutes, the Academy plays an important role among them because theAcademy exercises practical management and management education.
2. Researches
Researches in the Academy mainly focus on comparative management by countries
or areas (i.e. United States of America, Europe and Asia) based on “Japanese”
management. For example, the Academy exchanges opportunities to share results of ourstudies with The Academy of Management (Management Education & Development)
and the Korea Association of Business Education.
The Academy holds industry and academia interaction study meetings to share andanalyze hot important topics with experienced professional people as the Academy
practices our vision, “practical management with theory and practice”.
3. Organization
The Academy consists of a chairperson, vice-chairperson, director, comptroller, andsecretary. Committees consist of the General Committee, Organization Committee,
Newsletter Committee, International Committee, Journal Committee, and YAMASHIROAward Committee.
In addition, the Academy has regional divisions (i.e., Hokkaido Region, Kanto
Region, Chubu Region, Kansai Region, Kyushu Region) to facilitate members’ researchand opinion exchange.

55

4. Activities
The Academy holds national conferences twice a year: one in June in the Kanto
region, the other in October in other regions. The topics particularly focus on regional
local issues in the conference in October. Each conference convenes for three days
(from Friday to Sunday). The schedule is;
・ 1st day, visit to a company, a business office, a plant or a research anddevelopment laboratory;
・2nd day, fundamental reports about the main subject for each conference, lecturesfrom experienced professional guests, and research reports from the US Academyof Management and the Korea Academy of Management Education,
・3rd days, free topic reports.
Although an academy generally tends to hold a national conference once a year,
the Academy holds it twice a year to facilitate communication among members.
Recently, the Academy presents a panel discussion between industry and academia
regarding the main topic at the national conference, and this panel discussion responds
to rapidly changing business environment. It comes from our vision, “practicalmanagement with theory and practice”, and it also enhances our originality.
Free topic reports at the national conference provide an opportunity for members.
They have to be presented at a regional conference in preparation for the national
conference. This process improves the quality of the national conference and contributes
to developing academic theories.
The following are outlines of the national conference in the recent five years.
・59th National Conference (the 30th anniversary national conference) at Toyo University
in June 2009.
Main topic: Management Education and Practice in Corporations in Japan.
Panel discussion concerning main topic (management practice):
Panel members:
Mitsuhiro HIRATA (Hitotsubashi University),
Yoshikatsu NISHIDA (Yamashiro Management Development Institute, Ltd.),
Yasuhiro OGURA (Toyo University)
Coordinator:
Shigeki MASUDA (Meiji Gakuin University)
Panel discussion concerning main topic (CSR):
Panel members:
Junichi MIZUO (Surugadai University),56

Jun MURAI (Tokyu Corporation),
Toshihiro SASAKI (Kyoto Sangyo University)
Coordinator:
Kazuyoshi SATO (Rissho University)
Panel discussion concerning main topic (education for managers):
Panel members:
Yoshio MATSUMOTO (Nihon University),
Daiki KOHNO (Toyo University),
Katsuhiko SAKURAI (Tokai Gakuen University)
Coordinator:
Hirokazu TSUJIMURA (Chubu University)
Panel discussion concerning main topic (innovation):
Panel members:Hideo YAMASAKI (Wako University),
Kazunari KONISHI (Gartner Japan, Ltd.),
Koji YOSHIMURA (Meiji University)
Coordinator:
Nobuo MORIKAWA (Aoyama Gakuin University)
Panel discussion concerning main topic (education for administrators):
Panel members:
Yasushi FUKUHARA (Senshu University),
Tadashi KUSUMOTO (Q. P. Corporation),
Tadashi UMEZAWA (Japan Professional School of Education)
Coordinator:
Atsuhiro YACHI (Bunkyo Gakuin University)
Panel discussion concerning main topic (globalization):
Panel members:
Koichi NAKAMURA (Komazawa University),
Shigeyoshi KANEKO (Sales University, Inc.),
Kimito TEZUKA (Seijo University)
Coordinator:
Iwayuki SUZUKI (Wako University)
Lecture: Management Practice and Technology of Japanese Companies
Speaker: Hisashi SAKAMAKI (Director of Canon Electronics Inc.)・58th National Conference at Sapporo University in October 2008

57

Main topic: Good Practice in Business Management and Management Education
Topic 1: A compass that supports and promotes behavior in a chaotic era:
From a perspective of institutionalizing thoughts and directions
Speaker: Eiichi EBIZAWA (Kanagawa University)
Topic 2: “Kinotoya” challenge to establish the “Sapporo Suites Kingdom” brandSpeaker: Akio NAGANUMA (C.E.O. of Kinotoya Co., Ltd.)
Topic 3: Making Organizations in which employees can work autonomously with
their life worth
Speaker: Keitaro FUKUYAMA (C.E.O. of The Bell Food Co., Ltd.)
Topic 4: The Vision and CSR of a Chief Executive Officer: The creation of a newJapanese way of management
Speaker: Yasuhiro OGURA (Toyo University)
Lecture: Challenges for food safety and security of food and management
Speaker: Hiroyuki ISHIZAKA (An assistant director of The CO-OP Sapporo)
Panel discussion concerning main topic:
Panel members:
Osamu KOYAMA (Sapporo University),
Eiichi EBISAWA (Kanagawa University),
Yasuhiro OGURA (Toyo University)
Discussants:
Mitsuhiro HIRATA (Seijo University)
Junichi MIZUO (Surugadai University)
Coordinator:
Koji YOSHIMURA (Meiji University)
・57th National Conference at Chiba University of Commerce in June 2008
Main topic: Next Generation Top Managers’ Development and Management
Education
Topic 1: Practical management education and its theory in a new era
Speaker: Masaya SAEKI (The SANNO institute of Management)
Topic 2: What I learned before starting up a business; from Univ., MC, HBS, andVC.
Speaker: Masaru SUNAGAWA (C.E.O. of Location VALUE Inc.)
Topic 3: Are Leaders Born or Educated?
Speaker: Haruo TAKAGI (Keio Business School)
Topic 4: Development of Next Generation Leaders in Fashion / Apparel Industry

58

The Case of IFI Business School Pursuing True Practical Education.
Speaker: Yoko OHARA (Institute for The Fashion Industries: IFI Business
School)Exchange report from The US Academy of Management: Management Education
for Global Sustainability
Speaker: Jim STONER (Fordham University)
Lecture: New Management Education in a New Model in the University
Speaker: Haruo SHIMADA (Principal of Chiba University of Commerce)
Panel discussion 1 concerning main topic:
・Needed ability and training in a company
Kazuyoshi KOMIYA (Komiya Consultants)
・Education effect in a University and career choice
Kyoko KOSEGAWA (Meiji University)
Coordinator:
Koji YOSHIMURA (Meiji University)
Panel discussion 2 concerning main topic:
・Management Innovation in Chiba Lotte Marines
Shigeo ARAKI (Operating Officer of Chiba Lotte Marines)
・Study of service innovation education in professional sports clubs
Motoki MIZUNO (Juntendo University),
Coordinator:
Shigeo IMAI (Yanase & Co.,Ltd.)
Panel discussion 3 concerning main topic
・Growth after establishing a company and management education
Hirokazu TSUJIMURA (Chubu University)
・Challenges in manufacturing industry network
Yasuo UCHIHARA (NC Networks Co.,Ltd.)
Coordinator:
Kazuhide OKADA (Senshu University)
・56th National Conference at Takamatsu University in November 2007
Main topic: Local Business Management and Management Education
Panel discussion 1 concerning main topic
・Business Systems and Community: Collaboration of Enterprise and NPO
Toshihiro SASAKI (Kyoto Sangyo University)
・The possibility of circulation

59

Kozo FURUKAWA (Board chairperson of Takamatsu Marugamemachi Shopping
Association)
Coordinator:
Shigeo KATO (Senshu University)
Panel discussion 2 concerning main topic
・Human Resources Development of Local Company :Present Condition, Problems, Prospects
Hideo TANAKA (Toyo Gakuen University)
・Management education and fixation of personnel in small service enterprises
Katsutoshi NODA (The YB Co., Ltd.)
Coordinator:
Daiji KAWABATA (Aichi Gakusen University)
Panel discussion 3 concerning main topic
・Strategic Management for Local Governments and Management Resources
Hitoshi SAKURAZAWA (Bunkyo Gakuin University)
・Trends and problems of the industrial support service
Kenji NAKANISHI (Department manager of Kagawa Industry Support
Foundation)
Coordinator:
Koji YOSHIMURA (Meiji University)
Panel discussion 4 concerning main topic
・Regional Development and Professional Education
Takao SUZUKI (Chiba University of Commerce)
・Absolute Prerequisites for Small & Tiny companies to globalize their businessContinuing Recruitment of international-minded Staff
Yasunori TANAKA (C.E.O. of The Naigai Corporation)
Coordinator:
Susumu HOSOKAWA (Takamatsu University)
Exchange report from The US Academy of Management: Educating theProfessional Entrepreneurs of the 21st Century
Speaker: Tom BRYANT (Rowan University)
Lecture: Les Gants’s Global Strategy
Speaker: Takashi SUNAGAWA (C.E.O. of Les Gants Co., Ltd.)・55th National Conference at Aoyama Gakuin University in June 2007
Main topic: Professional Mind and Management Education

60

・54th National Conference at University of Marketing and Distribution Sciences in
October 2006
Main topic: Management Education for Human Resource Development
・53rd National Conference at Wako University in June 2006
Main topic: Education in a Global Corroborative Creation Era
・52nd National Conference at Aichi Sangyo University in October 2005
Main topic: 5W1H on Management Education
・51st National Conference at Meiji University in June 2005
Main topic: Professional Mind in Today’s Management and Its Education
・50th National Conference at Kyushu International University in October 2004
Main topic: Management Education in the Asian Era
5. Industry and Academia Interaction Symposiums
One of the main activities in the Academy is collaborative research in industry andacademia, and collaborative symposiums to present its results.
A recent symposium example was in Toyama city in December 2008. Its theme was
education for local companies, and representatives from local business leaders andacademic researchers proactively exchanged their views on the subject.
Panel members:
Tadao NAKAJIMA (Division Manager of Human Resource Management, Hokuriku
Electric Power Company)
Munetsugu MIYAO (Project manager of Sugino Machine Co.,Ltd.) and others.
Coordinator:
Hirokazu TSUJIMURA (Chubu University)
6. Publication
The Academy published a book of research papers under the title Management
Education Research from 1998. The title was changed to Management Development in2008, and it was revised from book style to journal magazine style twice a year. Manyof our members actively post their research papers, and anonymous peer referees review
their prepublication papers, so that the journal maintains and improves its quality. For

61example, the article “Next Generation Top Managers’ Development and Management
Education” in vol. 12, No. 1, January 2009 presented a view of issues which most
corporations in Japan are facing.
7. Newsletter
The Academy publishes its newsletter Kaiho every two months, in which it informs
our members of recent movements in academia, members’ publications and schedules
for meetings.
8. Yamashiro Award
The Yamashiro Award was established for researchers and professionals among ourmembers. Based on Professor Yamashiro’s vision, the Academy presents this award for
published books and research papers to members who are particularly young researchers
to motivate and to encourage them.
(Koji YOSHIMURA, Meiji University)

62THE JAPAN INSTITUTE OF PUBLIC FINANCE (JIPF)
１．Outline of JIPF
(1) Brief history
The Japan Institute of Public Finance (JIPF) was established in 1940 by 63
scholars with the aim of enhancing academic research in public finance, providing
opportunities for members to present their research papers, and promoting mutual
understanding among its members. Its first annual conference was convened on October
26th 1940, following a commencement ceremony at Gakushi Kaikan in Tokyo.
The second, third and fourth annual conferences were held respectively at Kyoto
University in 1941, at Keio University in 1942 and at Waseda University in 1943, but
further conferences were obliged to be suspended because of the intensification of theSecond World War. After the war, the Institute had the fifth and sixth conference atTokyo College of Commerce and Keio University respectively, both in 1949. Since theseventh and eighth conferences, held respectively at Kobe University in 1950 and the
University of Tokyo in 1951 with a membership of about 90, annual conferences havebeen held in either October or November.
The 65th annual conference was held at Kyoto University in 2008, and its total
membership has reached 950 approximately.
(2) Organization
The Institute is managed by the General Meeting, the Board of Directors, and theStanding Executive Committee.
The General Meeting is the supreme decision-making body of the Institute andheld usually once a year at the Annual Conference. The Board of Directors consists of
37 members, 25 members of which are elected by the membership to three-year term,with a maximum limit of three consecutive terms. The remaining 12 directors arechosen by the 25 elected directors, with an emphasis on avoiding undue concentration
concerning the institutions the directors belong to and the regions in which thoseinstitutions are located. The Institute is subjected to audit by the two members electedby the membership.
The Board of Directors appoints some directors for the member of the Standing
Executive Committee, which are in charge of day-to-day management of the Institute.
The number of its members is five by convention: three of them are from institutions in
the Metropolitan Area and the other two members are from institutions in other regions.

63

(3) Membership
The Institute’s membership consists of researchers in the field of public financeand related disciplines. Admission to membership is made by the decision of the boardof directors, and is based on the recommendation of two current members.
The membership is classified into the following four categories.
a) Regular Member
Regular Members are persons engaged in research of Public Finance and related
fields in such institutions as a university, a research institute or a government agency.
The current annual membership fee is 10,000 yen, of which 4,000 yen is appropriated tothe cost of publishing an annual bulletin, Zaisei Kenkyu.
b) Student Member
A graduate student on a doctoral course with a major in Public Finance or related
fields may be admitted as a member, and the membership fee is discounted to 8,000yen.
c) Honorary Member
JIPF introduced the honorary membership in 2009 to express its acknowledgementof those who have contributed to the activities of JIPF for a long time and must retire
from front-line research because of age or other reasons. An honorary member is
exempted from paying membership fees and his or her name is recorded as an honorary
member in the membership list.
The eligibility for an honorary member is as follows:
1) An individual who has been a member of JIPF for 20 years or over.
2) An individual who is 75 years old or older.
3) An individual who has paid the full amount of membership fees.
d) Adviser
JIPF has advisers, who are expected to give advice from a broader perspective. The
board of the directors can recommend a member who satisfies the following two
eligibilities for an adviser with the nominee’s approval.
1) A member who has been a member of the board of directors for three three-year
terms or over.
2) A member who is 65 years old or older.
To express their opinions about the management of JIPF, advisers can attend theregular meetings of the board of directors, or advisory meetings held by the standing64

executive committee at annual conferences.
2. Activities
JIPF has worked to pursue its objective described above mainly in three forms ofactivities.
(1) Annual Conference
The annual conference is held regularly once a year. It is to be hosted by a memberof the board of directors, and held in the Metropolitan area and in another area
alternately. The conference usually consists of a symposium, parallel sessions, amembers’ general meeting and a social party. Approximately 700 participants haveattended the annual conference in its two-days session in recent years. It serves as agreat opportunity for members to meet and communicate with each other. Summaries of
the annual conference in the period from 2003 to 2008 are described in section 3 below.
(2) Publishing an annul Bulletin, Zaisei Kenkyu (Fiscal Studies)
To inform the public of the activity of the JIPF and the research progress of themembership, the board of directors examined the possibility of publishing a journal orbooks for a long time, and made the proposal of publishing an annual bulletin, titledZaisei Kenkyu (Fiscal Studies) at the annual conference in 2003. With the approval in
the members’ general meeting, the editorial board was organized in 2004, which waschaired by Masashi EGAWA (Meiji Gakuin University). The first volume was publishedin 2005 from Yuhikaku Publishing Co., Ltd. and we have published four volumes till
2008.
Each volume consists of three parts. The first part includes the discussion in the
Symposium, papers presented in the Korea-Japan special session, and invited lecturesand survey papers by outstanding scholars at the annual conference. The second partconsists of research papers presented at the annual conference with referee reading. The
final part records the program of the annual conference.
(3) International Activity
The JIPF started a mutual exchange program with the Korean Association of
Public Finance and Economics in 2004 (currently the Korean Association of Public
Finance; KAPF hereinafter.) JIPF has invited three members of KAPF to an annual
conference in each year and held a Japan-Korea Special Session at every annual
conference since 2006. In the special session both Korean and Japanese scholars present
their papers and make comments on them mutually, and English has been the common

65language since 2007. KAPF has also invited three JIPF members to their annual
conference each year, and Japanese scholars have joined it as paper presenters or
discussants.
In addition to these regular activities, JIPF hosted the Annual Conference of theInternational Institute of Public Finance (IIPF) in 1981 and 1997. The 1981 IIPF
Conference convened in September in Tokyo, and it was the first one held in Asia. The
1997 Conference was held in August in Kyoto. There were 265 participants from abroad
representing 45 countries and 322 from home. Many JIPF members also participate in
the IIPF, and contribute to promoting international exchange of research in Public
Finance.
Besides these activities, JIPF launched its official website in 2008, and has utilized
it to inform the public of the activities of JIPF and convey various messages to themembership.
3. Annual Conferences from 2003 to 2008
JIPF has considered a variety of topical Public Finance issues by convening its
annual conferences.
(1) The 60th Annual Conference, 2003
The 60th annual conference was held on October 25th and 26th at Kansai
University. A symposium titled “Fiscal Sustainability: Interaction between Fiscal and
Financial Systems” was featured, with Kazuo YOSHIDA (Kyoto University) as
coordinator and Keimei KAIZUKA (Chuo University), Jun MIYAWAKI (Hokkaido
University) and Naoyuki YOSHINO (Keio University) as panelists.
In addition, a mini-symposium titled “Instability of the Financial System and its
Effects on Fiscal Policy” was held with Masaru KANEKO (Keio University) as acoordinator, and Eisaku IDE (Yokohama National University), Akio SAKAI (Kyoto
University) and Yoichi TAKAHASHI (Research Institute of Economy, Trade & Industry)as panelists.
There were 39 research presentations and discussions under the thematic categories
of “Reform of Fiscal Systems: Public Finance in Welfare States”, “Tax Reform (1) (2)(3)”, “Social Security (1) (2),” and “Reform of Fiscal System: Experience of Foreign
Countries (1) (2) (3).” In addition, there were 45 open-theme research presentations.
(2) The 61st Annual Conference, 2004

66

The 61st annual conference was held on October 30th and 31st at Tohoku Gakuin
University. A symposium titled “Has Globalization changed Western-style WelfareStates? ― Implications for Public Finance in Japan” was held, with Fumio KANAZAWA(Yokohama National University) as coordinator and Eiichi KATO (The University ofTokyo), Takeshi FUJII (Adviser, Mizuho Corporate Bank), Hiroshi MIYAJIMA (Waseda
University) and Hideo OKAMOTO (Tokyo Keizai University) as panelists. Mr. Fujii wasan ex-Director-General of the Financial Bureau of Ministry of Finance and had worked
as the ambassador to Sweden from 1997 to 2000. In the symposium, panelists discussed
how the progress of globalization has forced Western-style Welfare States to change
qualitatively from historical and comparative perspectives, etc.
At this conference, a special session titled “Public Finance in Korea” was featured.
This was the first formal program of the international exchange between JIPF and the
Korean Association of Public Finance and Economics (hereinafter KAPFE). JIPF
invited three members of KAPFE: Seong Lin NA (Hanyang University, President of
KAPFE), Chung Mo KOO (Kangwon National University, the President-elect of the
KAPFE), and Jin Kwon HYUN (Ajou University, the director in charge of international
exchange program of the KAPFE). Takehisa HAYASHI (The University of Tokyo) chaired
the session and three papers were delivered, that is “Public Finance in Korea: Current
Issues and Prospects” by KOO, “Korean Public Finance under the Kim Dae Jung
Administration” by Hwa YU (Ibaragi University), and “Public Finance and the Social
Welfare Reform in Korea” by Hyun Woo LEE (Yokohama National University), on
which two discussants Eiji TAJIKA (Hitotsubashi University) and Mitsuyoshi KAWASE(Shizuoka Prefectural University) made comments.
There were 33 research presentations and discussions under the thematic categories
of “Accumulation of Public Debt and Risk of Inflation”, “Tax Reform (1) (2) (3)”,“Social Security Reform (1) (2) (3)”, “Reform of Local Public Finance (1) (2)”,“Financial Problems in Higher Education,” and “Public Finance in Asian Countries.” In
addition, there were 58 open-theme research presentations.
(3) The 62nd Annual Conference, 2005
The 62nd annual conference was held on October 22nd and 23rd at Hitotsubashi
University. The main symposium was titled “Issues in a Society with fewer Children:
What is the Role of Public Finance?” Shinji YAMASHIGE (Hitotsubashi University)
coordinated it and Hiroko OHTA, (National Graduate Institute for Policy Studies),
Sawako SHIRAHASE (University of Tsukuba), Nobuko NAGASE (Ochanomizu University),and Yoshio HIGUCHI (Keio University) joined as panelists.

67

In addition, two special sessions were held at this conference. The purpose of thefirst session was to deepen a dialog among academics and officials in the government.
From the government side, Hideki TOMONAGA (National Tax College), Yasuharu YANO
(Ministry of Finance), and Akihide HIRASHIMA (Ministry of Internal Affairs andCommunications) presented their papers.
In the second special session, two distinguished professors delivered lectures basedon their long careers both in the academic field and as advisers to government policy
making. Hiromitsu ISHI (Hitotsubashi University), who had been chairman of the Tax
Commission from 2000 to 2005, delivered a lecture, “Academic Discipline and theFront Line of Policy Decision.” Takehisa HAYASHI (The University of Tokyo), who had
been chairman of the Local Finance Council from 1998 to 2003, delivered a lecture,“What I thought as chairman of the Local Finance Council.”
It is particularly worth noting that the program committee changed the organizationof parallel sessions at this conference. When calling for papers, the program committee
had usually set in advance several topics as common-themes. Papers submitted on othertopics had been categorized as open-theme sessions at the conference. Due to theincreasing number of submitted papers, the program committee decided to change theway to call for papers. Without preparing common theme sessions, the programcommittee grouped submitted papers into some categories according to their topics andtheir analytical methods. This procedure has been successfully implemented by the
program committee since then.
The program committee also prepared “project sessions” following the 59th
Conference, where a member can organize a whole session. A project session was held
on “Social Capital and Public Policy,” which was organized by Naoto YAMAUCHI(Osaka University).
Altogether 82 papers were presented in 28 sessions at the conference. If we classify
papers by topic, 19 papers out of 82 discussed issues in the area of Local Public Finance,
15 papers in Public Expenditure and Public Goods, 10 papers in Taxation, and 8 inSocial Security. 17 papers dealt with international comparison on various topics such as
Local Public Finance or Tax Policy. Although classification is very rough because apaper may deal with several topics, we can grasp members’ areas of interests by doingso.
(4) The 63rd Annual Conference, 2006
The 63rd annual conference was held October 7th and 8th at Kinki University. The
symposium, titled “A Society with a Wide Income Gap and the Role of Public Finance,”

68

was featured. Mari NISHINO (Meiji University) coordinated it, and Toshihiro IHORI (The
University of Tokyo), Fumio OHTAKE (Osaka University), Naohiko JINNO (The
University of Tokyo), and Toshiaki TACHIBANAKI (Kyoto University) joined as panelists.
The purpose of the symposium was to make clear the evidence of widening
disparities, its causes and effects, and to discuss what policies are appropriate and what
the role of Public Finance is. The discussion by the panelists shed light on the
differences of views on these issues among active scholars at the front line.
The second Japan-Korea special session was held under the theme “Japan-Korea
Comparison of Intergovernmental Relationship.” Decentralization has proceeded
globally since the 1980s. In Japan, the Koizumi administration adopted the so-called“Trinity Reform of Local Public Finance” and promoted decentralization. The Korean
government established the Presidential Committee on Government Innovation and
Decentralization in 2003 and set up a road map to reform. Although both countries
have different intrinsic problems with historical and cultural backgrounds, they face thesame problems, such as that the local governments’ revenue is highly dependent on
subsidy from the central government. It is very useful to understand issues andexperiences mutually to promote decentralization.
Fumio KANAZAWA (Yokohama National University) chaired the special session,and three authors presented their papers: Chang Kyun LEE (Korea Research Institute for
Local Administration) delivered the paper “Trends in Intergovernmental Fiscal
Relations in Korea;” Nobuki MOCHIDA (The University of Tokyo) presented “Trends inIntergovernmental Fiscal Relations in Japan,” and Joon Ho KOOK (Yokohama City
University) delivered “Comparison of Intergovernmental Fiscal Relations in Japan and
Korea.” Two discussants, Toshihiko MACHIDA (Senshu University) and Hwa YU (Ibaragi
University) made comments.
Three “project sessions” were featured at the conference: “Decentralization at State
and Municipal Levels in the U.S.” organized by Takashi MAEDA (Nagoya City
University), “The Role of Central and Local Governments: From the Study ofInternational Comparison,” by Masayoshi HAYASHI (Hitotsubashi University), and“Finance in Medical Services under the Managed Care in the U.S.” by Takuro KAWANE(Wakayama University).
A total of 88 papers were delivered in 30 parallel sessions at the conference.
Among them 30 papers, more than one third of the total, discussed issues in Local
Public Finance, 16 papers examined problems in Taxation and 10 in Social Security. A
further 17 papers dealt with Public Finance issues in foreign countries.

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(5) The 64th Annual Conference, 2007
The 64th annual conference was held October 27th and 28th at Meiji University.
The main symposium titled “Fiscal Reconstruction and Tax Reform” was held. The
symposium discussed the issues of accumulating Japanese public debt, which has been
at a tremendously high level among OECD countries. Mari NISHINO (Meiji University)
chaired the symposium, and the following five professors joined as panelists: Fumio
KANAZAWA (Yokohama National University), Takero DOI (Keio University), Yoshitugu
HAYASHI (Kwansei Gakuin University), Toru MOROTOMI (Kyoto University) andYasuharu YANO (Ministry of Finance).
The Japan-Korea special session was held. Yuji YUI (Seijo University) chaired thesession where all of presentations and discussions were conducted in English. The
session consisted of two parts. The first part discussed “Social Security Reform in Japanand Korea,” and two papers were delivered. Jin SAKONG (Hanyang University) andSung Tai KIM (Cheongju University) presented “National Health Insurance Reform in
Korea” and Yoshihiro KANEKO (National Institute of Population and Social Security)
made comments on it. Akira OKAMOTO (Okayama University) presented “Public
Pension Reform in Japan：Basic Pension or Minimum Guaranteed Pension?” and SungTai KIM gave comments on it.
The theme of the second part was fiscal reform. Junghun KIM (Korea Institute of
Public Finance) discussed “Fiscal Reform Issues in Korea” and Eiji TAJIKA(Hitotsubashi University) and Yuji YUI presented “Fiscal Reform in Japan.” Discussantson these two papers were Sung Tai KIM and Toshihiro IHORI (The University of Tokyo).
The Japan-Korea special session discussed social security reforms and fiscal
reforms, both of which have been most serious problems in Japan. The discussion basedon Japanese experiences will be beneficial to consider future Korean problems.
There were 21 parallel sessions and 86 papers were presented. Thirty-three papers
discussed topics in the field of Local Public Finance. Papers in the fields of Tax System
and Social Security were next, 18 papers and 12 papers presented respectively in eachfield; 13 papers dealt with issues in Public Finance in foreign countries.
(6) The 65th Annual Conference, 2008
The 65th Annual conference was held October 25th and 26th at Kyoto University.
A symposium titled “Fiscal System in an Aging Society with Fewer Children” was held.
Kazuhiro UETA (Kyoto University) coordinated the symposium, and Mari OSAWA (The
University of Tokyo), Zenichi KENJO (Keio University), Shuzo NISHIMURA (Kyoto
University), and Hiroshi MIYAJIMA (Waseda University) joined as panelists.

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The Japan-Korea special session was convened under the theme of “Social
Assistance in Korea and Japan: Issues and Prospects.” Aya ABE (National Institute ofPopulation and Social Security Research) chaired it, and three papers were presented:
Junghun KIM (Korea Institute of Public Finance) presented his paper “Issues of Welfare
Decentralization in Korea,” on which Yukihiro NISHIMURA (Yokohama National
University) made comments. Masayoshi HAYASHI (Hitotsubashi University) delivered“Public Assistance and Local Government in Japan: Issues and Prospects” and Chong
Bum AN (Sungkyunkwan University; Vice President and Active President of KAPF)
made comments on it. Thirdly, Young Jun CHUNG (Hanyang University) presented “TheImpact of EITC of the Labor Supply in Korea: A Computable General Equilibrium
Approach,” which was commented on by Shigeki KUNIEDA (Hitotsubashi University).
There were 31 parallel sessions and 95 papers were delivered, 33 papers of which
discussed topics in the field of Local Public Finance. Next to that, 18 papers examined
problems in the fields of Tax System and 12 papers in Social Security; 13 papers dealt
with issues in Public Finance in foreign countries.
4. Zaisei Kenkyu(1) Volume I: Globalization and Contemporary Issues in Public Finance
JIPF published the first volume of Zaisei Kenkyu in 2005, which compiled papers
and discussions at the annual conference in 2004. Its title is “Globalization andContemporary Issues in Public Finance” and consists of three parts. Part I of the volume
is divided into three sections: the first section records papers and discussions in the
symposium and the second section, titled “Accomplishment of Contemporary Public
Finance and Issues Remaining,” includes survey papers by outstanding professors.
Contributors are Keimei KAIZUKA (Chuo University and Ministry of Finance, Policy
Research Institute), Hirobumi SHIBATA (Osaka University and the president of IIPF),
Tetsuya NOSE (Kobe College of Commerce), and Toshihiro IHORI (The University ofTokyo). The third section consists of papers presented in the Japan-Korea special
session.
Part II of the volume includes 10 papers which were delivered in the parallelsessions with referee reading. Authors are Hiroshi IKARIYAMA (Kanazawa University),
Eiji TAJIKA (Hitotsubashi University) and Hiroyuki YASHIO (Ministry of Finance, Policy
Research Institute), Takatsugu AKAISHI (Nagasaki University), Wataru KOBAYASHI(Hitotsubashi University), Osamu MURATA (Kwansei Gakuin University) and Tatsuya
MORISAWA (University of Marketing and Distribution Sciences), Eisaku IDE (Yokohama
National University), Mihoko KATO (Kwansei Gakuin University), Tsutomu SUGIURA

71

(Kyoto University), Toru HANEDA (Kanto Gakuen University), and Takero DOI (Keio
University) and Shunichiro BESSHO (The University of Tokyo).
Part III records the program of the annual conference 2004.
(2) Volume II: Policy Making in the Era of Low Birth-Rate Population
The second volume of Zaisei Kenkyu was published in 2006, which compiled
papers and discussions delivered at the annual conference in 2005. Its title is “Policy
Making in the Era of Low Birth-Rate Population” and consists of three parts, the sameas the first volume. Part I of the volume was divided into three sections: the first section
records papers and discussions in the symposium. In the second section,“Accomplishment of Contemporary Public Finance and Issues Remaining,” thefollowing authors contributed survey papers: Masazo OHKAWA (Hitotsubashi University
and Tokyo University of Commerce), Kenichi MIYAMOTO (Osaka City University andShiga University), Jun IKEGAMI (Kyoto University) and Naoyuki YOSHINO (Keio
University).
Part II contains seven papers which were delivered in the parallel sessions withreferee reading. The authors are the following: Tsuyoshi MIYAZAKI (Hitotsubashi
University), Yosuke SUNAHARA (Osaka University), Hiroyuki YASHIO (Ministry of
Finance, Policy Research Institute), Kensuke YOSHIHIRO (The University of Tokyo),
Yufu FUKUI, Norio SASAKI (Tohoku University), and Toru MOROTOMI (Kyoto
University).
Part III records the program of the annual conference 2005.
(3) Volume III: Unequal Society and Public Finance
The third volume of Zaisei Kenkyu was published in 2007, titled “Unequal Society
and Public Finance.” The structure of the volume is the same as the volumes published
before. Contributors to the second section of Part I, “Accomplishment of Contemporary
Public Finance and Issues Remaining,” are Tadashi USHIJIMA (Nagoya City University),
Chuji SAKAMOTO (Kansai University of Social Welfare), Michiyoshi OSHIMA (Keio
University), and Yoshitsugu HAYASHI (Kwansei Gakuin University).
Part II of the volume includes eight papers which were delivered in the parallelsessions with referee reading. Authors are Keiji FUKAE (Aoyama Gakuin University),
Masamitsu MOCHIZUKI (Kanto Gakuin University) and Hiroyasu NOMURA (Dokkyo
University), Katsuyoshi NAKAZAWA (Toyo University), Shigemichi KANESAKA (Osaka
University), Takashi KURAMOTO and Nobuo AKAI (Osaka University), Naoyuki YOSHINO(Keio University) and Yasue HAKATA (The University of Tokyo), Masatsugu AMO (The72

University of Tokyo), Shigeru SATO (Yokohama National University), Tsuyoshi
SHINODA (Kyoto University), and Keigo MIZUKAMI (The University of Tokyo).
Part III records the program of the annual conference 2006.
(4) Volume IV: The Road to Fiscal Health and Tax Reform
The fourth volume of Zaisei Kenkyu was published in 2008, titled “The Road to
Fiscal Health and Tax Reform.” Part I of the volume consists of three sections as usual
and contributors to the second section, “Accomplishment of Contemporary Public
Finance and Issues Remaining,” are Akira SHIGEMORI (Osaka University of Economics),
Eiichi YAMAMOTO (Kwansei Gakuin University), Toshiki TOMITA (Chuo University),and Akira YOKOYAMA (Chuo University). The third section records papers in theJapan-Korea special session.
Part II of the volume includes 12 papers which were delivered in the parallelsessions with referee reading. Authors are Shinichi KAWAGUCHI (Tottori University ofEnvironmental Studies), Keigo KAMEDA (Kwansei Gakuin University) and Hong Mei LI(Niigata University), Shigeki KUNIEDA and Masaki HOTEI (Hitotsubashi University),
Masatoshi JINNO (Yokkaichi University) and Toshiyuki UEMURA (Kwansei Gakuin
University), Yurie SAITO (Toyo University), Wataru KOBAYASHI (Ministry of Finance,
Policy Research Institute) and Haruo KONDO (Seinan Gakuin University), Yosuke
SUNAHARA (Kobe University) and Kohei FUJII (The University of Tokyo), Masayoshi
HAYASHI (Hitotsubashi University) and Mitsunari ISHIDA (Ministry of Finance, Policy
Research Institute), Satoshi SEKIGUCHI (Rikkyo University), Masato MIYAZAKI (Keio
University), Shigeki SONODA (Fujisawa City) and Masaki SHIMIZU (Yokohama National
University), and Harutaka TAKAHASHI (Meiji Gakuin University).
Part III records the program of the annual conference 2007.
(Yuji YUI, Seijo University)73THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICS
1. Structure of the Society
The Japan Society of Public Utility Economics was established in 1949. The Society
aims at fostering studies and conducting researches on public utilities from political,
economic and technological points of view. The Society has been contributing todeveloping new ideas and theories concerning the ways of provision of public utilities,
which embrace the wide range of public services from water and sewerage, gas,
electricity, and waste disposal, to telecommunications and information andbroadcasting.
As of 2009, the Society is made up of about 437 members and 68 institutional
members under a president and currently two vice-presidents with tenure of two years.
The affairs of the Society are managed by the president and vice-presidents, a board ofmanaging directors, a board of trustees and a secretary-general.
The main event of the Society is holding an annual national conference once a
year and several regional academic meetings. The Society has four regional
sections: Kanto, Kansai, Hokkaido-Tohoku and Kyushu. The Society publishes the
Journal of Public Utility Economics four times a year based on the presentations at theannual conference and meetings. Those papers submitted to the Journal must be
examined rigorously by referees.
The Society has an award system under which it annually grants Academic Awards
to excellent books and Incentive Awards to outstanding books and articles written byrelatively young promising members.
2. The Themes of Annual National Conferences
Since 1950 after the inauguration of the Society, the annual academic conference
has been held in June. The main themes for the last five years from 2005 to 2009 andthe keynote speakers and moderators were as follows:
Note: See the list of the contributors to Annual National Conferences in detail on the
web site: http:///www.ict.co.jp/jspu/
2005, 55th Annual Conference held at Kwansei Gakuin University, Nishinomiya City,
Hyogo, and Organized Mainly by Hidechika KUWAHARA, Kwansei Gakuin University
Theme: Environmental Coexistent Cities and Institutional Reform of Public
Utilities

74

Keynote speaker: Takamitsu SAWA, Kyoto University, “Economic Consequences of
Measures to Prevent Climate Change”
Panel Discussion Moderator: Hiroshi SASAKI, the Open University of Japan
2006, 56th Annual Conference held at Daito Bunka University, Tokyo, and Organized
Mainly by Mitsuhide IMASHIRO
Theme: Public Utilities and Governance
Keynote Speaker: Ken YOSHIMORI, Emeritus Professor at Yokohama National University,“International Comparison of Corporate Governance”
Panel Discussion Moderator: Hidemitsu IMASHIRO, Daito Bunka University
2007, 57th Annual Conference held at Takushoku University, Tokyo, and Organized
Mainly by Yoshitsugu AKIYAMA
Theme: Tipping Points Reached for Regulatory Reform
Panel Discussion Moderator: Kazuhiro OTA, Senshu University
2008, 58th Annual Conference held at Miyagi Zao Royal Hotel, Miyagi, andOrganized Mainly by Headquarters of JSPU
Theme: Globalization and Public Utility
Keynote speaker: Kyonosuke SASAKI, Vice-President of Tohoku Economic Federation,“The Vision of the Tohoku Region for the Year 2030”
Panel Discussion Moderator: Hidechika KUWAHARA, Kwansei Gakuin University
2009, 59th Annual Conference Held at Kyoto University, Kyoto, and Organized
Mainly by Hideki FUJII
Theme: Fusing Public Utilities ― New Competition and Ideal Regulation
Panel Discussion Moderator: Takanori IDA, Kyoto University
3. Recent Achievements in Public Utility Study
The Society published a book titled, Public Utility Industries in Japan: Past,
Present and Future, The Institute of Public Utilities and Network Industries, the Eli
Broad Graduate School of Management, Michigan State University, USA, 2000. The
book highlights the need for deregulation, horizontal and vertical integration,
privatization or corporatization for reforms in public utility industries. After thispublication, a new book in Japanese was planned and then published in 2005. The
theme is Public Utilities in Japan ― Challenges to Reform, which was edited by the75Society. The former had an intent to inform foreign researchers of the present situationof Japanese public utility reform.
The latter has another purpose: to diffuse the study of public utility economics inJapan. The reform of the regulatory regime has reached a tipping point, with such eventsas the repeal of legal provisions of demand-supply adjustment in traffic andtransportation fields. In other fields, Japan has reorganized Special Corporations into
Independent Administrative Institutions, and established Special Zones for Structural
Reform, and expanded free sale areas for electricity and gas, and then privatized both
the Japan Highway Public Corporation and Japan Post.
As the subtitle of the Japanese edition indicates “Challenge to Reform,” we haveconfronted new circumstances, such as appearance of new services based on technicalinnovations, a rising social demand for promoting efficiency in the public sector andtreating environmental destruction. So the public utilities are compelled to cope with thepositive development of new energies, and to participate in carbon emission trading, andto work on a clean development mechanism
The contributors and contents are as follows: the organizational affiliation as of theyear 2005 when the book was published.
Foreword: Shusaku YAMAYA, Toyo University, Editor in Chief
Chapter 1: Public Utility Regulation and Its Reform
Section 1-1: Frame of Regulation and Regulatory Reform
Shusaku YAMAYA, Toyo University, Editor in Chief
Section 1-2: Reform of Public Corporations and Privatization
Toshio UEMURA, Asia University
Chapter 2: Energy and Water Supply
Section 2-1: Electricity
Masayuki YAJIMA, Central Research Institute of Electric Power
Industry
Section 2-2: Gas
Jun-Ichiro FUJIWARA, Keio University, Editor
Section 2-3: Water Supply
Haruo ISHII, Sakushin Gakuin University
Chapter 3：Telecommunication, Information, and Broadcasting
Section 3-1: Telecommunications
Hidenori FUKE, Kansai University
Section 3-2: Broadcasting76

Kiyoshi NAKAMURA, Waseda University
Section 3-3: Digital Networks
Minoru SUGAYA, Keio University, Editor
Section 3-4: Postal Service
Hideki IDE, Keio University
Chapter 4: Traffic and Transportation
Section 4-1: Institutional Reform in Transport Fields
Hirotaka YAMAUCHI, Hitotsubashi University, Editor
Section 4-2: Railways
Haruo ISHII, Sakushin Gakuin University
Section 4-3: Airlines
Nozomu TAKAHASHI, Kansai University
Section 4-4: Road Passenger Transportation
Kazushige TERADA, Tokyo University of Marine Science andTechnology
Chapter 5: Issues of Deregulation
Section 5-1: Network Access
Takanori IDA, Kyoto University
Section 5-2: Restructuring
Munenori NOMURA, Kwansei Gakuin University
Section 5-3: Privatization
Yoshihiro TOYAMA, Otemon Gakuin University, Editor
Chapter 6: New Stage of Public Utilities
Section 6-1: Environmental Problems and Electricity
Hiroshi ASANO, Tokyo University, Central Research Institute ofElectric Power Industry
Section 6-2: Environmental Problems and Automobile Transport Policy
Shusaku YAMAYA, Toyo University, Editor in Chief
Section 6-3: Role of NPO and Its Problems
Seiji ABE, Kansai University
4. Recent Topics in Special Sessions of Annual Conferences
In 1983, the Second Adhoc Administrative Research Committee submitted a basic
reform plan to the Prime Minister, and then administrative reform advanced to copewith the worldwide wave of deregulation and privatization. Since then about a quarterof a century has passed, and it is necessary for us to examine the achievements and77challenges of deregulation and privatization polices. These points were taken up at theSpecial Session in the Annual Conference of 2007. Some researchers inquired into theideal states of public utilities among major industries from the point of view of
coordination between marketization and regulation.
One of the studies in this line was Market Liberalization and Public Utilities,
published in 2007 (edited by Jun-Ichiro FUJIWARA and Masayuki YAJIMA, Hakuto
Shobou). They say, “After we had studied various cases of public utility reforms from
historical and international comparative viewpoints, we have reached the phase where
we have to investigate how public utilities should be.”At the same time, we were confronted with new problems, one of which was the
problem of J-Power being bought out by the Children’s Investment Master Fund (TCI).
It is proper to think that this problem is one of the consequences caused by privatizationand globalization. TCI proposed to hold over 20 % of issued shares of J-Power, but theGovernment did not allow them to do so because of the fear of endangering themaintenance of public order in Japan. This problem was taken up by the Special Sessionof the Annual Conference in 2008. At the same time, the problem of nationality andairlines was also picked out. The United States of America are against foreign
shareholders buying more than half of American airlines’ issued shares. These problems
indicate that we have to call people’s attention to the trade-offs and balances between
national interests and individual foreign corporate interests in relation to promoting theprivatization of public utilities.
The Special Session of 2009 took up the theme of “Fusing Public Utilities ― New
Competition and Ideal Regulation,” which symbolizes the beginning of digital fusion,
such as the unification of broadcasting and telecommunication. So a new regulatory law
is supposed to be enforced along with layers of cross sectional information
communication industries. We are at the foot of the digital revolution stretching into the
future, and public utility status will have to change to cope with this new digital wave.
(Toshio UEMURA, Asia University)

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JAPAN STATISTICAL SOCIETY
1. General Description
The Japan Statistical Society (JSS) was established in 1931 by a group of
statisticians in Japan immediately after the 19th Session of the International Statistical
Institute (ISI) held at Tokyo. In the early stage of the JSS, a special emphasis was on
official statistics and economic statistics, but later the JSS attracted mathematicians andresearchers in other areas, including engineers in statistical quality control andbiometrics, which have been closely related to statistics since World War II. To date,the members of the JSS have diversified in the various fields of official statistics,
mathematics, biology, economics, engineering, psychology, education, sociology,
finance, management sciences, medical sciences, and other related fields of applicationsof statistical methods.
During 78 years since its establishment, the JSS has been recognized as one of theleading academic groups among Japanese scientists. The JSS has contributed indeveloping statistical methodologies with suitable applications in tremendously broad
fields in the community of science, government, and industry.
In Japan, there exist several independent societies that promote research andeducation in statistical methodologies and applications. The JSS has tried to build up
closer connections with the other statistics-related societies. A consequence of the JSS’
efforts is the Japanese Joint Statistical Meeting, where the JSS and other statisticalsocieties, such as the Japanese Society of Applied Statistics, the Biometric Society ofJapan, the Japanese Society of Computational Statistics, and the Behaviormetric Societyof Japan, have jointly held a large scale research convention every September since2002.
2. Information on the Japan Statistical Society
The annual meeting of the JSS (the Japanese Joint Statistical Meeting since 2002)
offers a convenient place where leading statisticians come from all fields and get
together to exchange new and old ideas for solving statistical problems. In addition to
the Annual Meetings, the JSS has held an independent small scale annual researchmeeting in March since 2006.
The JSS publishes the Journal of the Japan Statistical Society (JJSS) both inEnglish and in Japanese, each biannually. Abstracts and full texts of papers in recent
issues (from 2001 on) are available from the JSS website while the contents of the pastissues (1970-2000) are available from there. The editors for the English JJSS have been

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Sadanori KONISHI (1999-2000, Kyushu University), Genshiro KITAGAWA (2001-2002,
Institute of Statistical Mathematics), Tatsuya KUBOKAWA (2003-2004, University ofTokyo), Katsuto TANAKA (2004-2006, Hitotsubashi University) and Masanobu
TANIGUCHI (2006-2010, Waseda University) while the editors of the Japanese Journal
have been Yoshihiko TSUKUBA (1999-2000, Tohoku University), Yoshihiro
YAJIMA(2001-2002, University of Tokyo), Satoru KANOH (2003-2004, Hitotsubashi
University), Toshinari KAMAKURA (2004-2006, Chuo University), Yasuhiro OMORI(2006-2008, University of Tokyo), and Toshiaki WATANABE (2009-2010, Hitotsubashi
Institute of Economic Research). The Society also publishes newsletters quarterly. All
academic correspondence on the JJSS should be sent to the Editor, Professor Masanobu
TANIGUCHI, Faculty of Science and Engineering, Waseda University, Okubo,
Shinjuku-ku, Tokyo 169-8555.
All business correspondence on the membership of the JSS, the annual meeting,
the Journal, and others is handled by the administration office of the JSS, whose address
is: c/o Sinfonica, Nogakushorin Building, 3-6 Kanda-Jinbocho, Chiyoda-ku, Tokyo
101-0051, Japan, phone/fax: +81-3-3234-7738, and e-mail: shom@jss.gr.jp. The JSS
website is located at: http://www.jss.gr.jp. Information on the current and past activitiesof the JSS can be obtained from there. The JSS is open to both individuals andinstitutions that have statistical research interest in the world.
The regular members of the Society receive the printed form of the Program of theAnnual Meeting, JJSS and the quarterly Newsletter. The Newsletter includes valuable
information on future academic meetings including conferences, academic job
opportunities, new academic theses (MA and PhD), books and computer software
information, and a series of essays on statistics by influential and leading statisticians inJapan. Besides regular members, there are several categories of membership including
Fellows, Senior Fellows, Students, and Corporate members. For more details ofmembership of the Society, please see the JSS website.
Overseas non-members and libraries can purchase the Journal through The Japan
Publications Trading Co., Ltd., Tokyo International P.O Box 5030, Tokyo 100-3191,
Japan, phone: +81-3-3292-3751 or 9337, and fax: +81-3-3292-0410.
3 Annual Meetings, the 75th Anniversary, and Related Activities
In an Annual Meeting (a Joint Statistical Meeting since 2002), many
economic-related sessions, for instance, empirical economics, econometrics, official
statistics, finance, and marketing sciences, are programmed. Other major fields are
medical science, genomic science, psychology and educational science. The Abstracts80

in Japanese in the Proceedings will give information on the titles of the papers and theaffiliations of the speakers for further inquiries. Unfortunately, most papers and reports
presented in each session are not available in English. The Proceedings can be obtained
from the administration office of the JSS on request.
A standard setup of an Annual Meeting is as follows: Day 1: tutorial seminars for
non-experts and invited talk sessions for general audience; Days 2-4: ordinary sessionsof individual presentations of recent research and special topic sessions organized bydesignated members. The tutorial seminars serve as a springboard to cutting-edge
statistical technologies for non-experts.
The year 2006 was the 75th anniversary of the JSS. To celebrate this opportunity,
the JSS held a couple of research meetings and planned to publish several books toshow the usefulness of statistical science for the future of our society.
The 72nd JSS Annual Meeting (Japanese Joint Statistical Meeting 2004)
 Date: September 3-6, 2004
 Venue: Fuji University (Hanamaki, Iwate Prefecture) The number of sessions: 61 (ordinary: 39; special topic: 16; competition: 6)
 Tutorial seminar: “Process and system of data management” (chair: Yoshio
TSUKADA, Aventispharma)
 Symposium: “The current position of statistical science” (chair: Takashi
YANAGAWA, Kurume University)
 Invited talk session: “How to vitalize a local economy: A perspective fromstatistical data” (by Yasuto YOSHIZOE, Aoyama Gakuin University, and Ritei
SHIBATA, Keio University) Economics related sessions (chairs): economic time series (Taku YAMAMOTO,
Hitotsubashi University); statistical survey (chair: Yoshiro MATSUDA, Tokyo
International University); official statistics (Hiroshi SAIGO, Waseda University);stochastic volatility models (Kimio MORINUME, Kyoto University); statistics andinsurance (Naoto KUNIMOTO, University of Tokyo); economic and managerial
statistics 1 (Yutaka KANOH, Hitotsubashi University); econometrics 1 (Yukio OYA,
Osaka University); stochastic volatility models (Yoshihiko TSUKUDA, Tohoku
University); economic and managerial statistics 2 (Mototsugu FUKUSHIGE, Osaka
University); statistics and accounting (Yoshiyuki TAKEUCHI, Osaka University);time series analysis (Yoshinori KAWASAKI, ISM); econometrics 2 (Hisashi TANIZAKI,Kobe University); statistics and marketing (Hajime WAGO, Nagoya University);stochastic volatility models 2 (Toshiaki WATANABE, Tokyo Metropolitan

81University); econometrics 2 (Atsushi YOSHIDA); new currents in official statistics(Masato AIDA).
The 73rd Annual Meeting (The Japanese Joint Statistical Meeting 2005)
 Date: September 12-15, 2005.
 Venue: Hiroshima Prince Hotel (Hiroshima, Hiroshima Prefecture) The number of sessions: 65 (ordinary: 56; special topic: 9) Tutorial seminars: “Analysis of economic and managerial data with R” (by:Yoshiro YAMAMOTO, Tokai University, and Takehiko YASUKAWA, Institute of
Financial Engineering); “Safety control of medicine and epidemiologic analysis of
medicine” (by: Toshiharu FUJITA, National Institute of Public Health) Symposium: “The current position of statistical science” (chair: Akimichi
TAKEMURA, University of Tokyo)
 Invited talk session: “The past and present of Hibakusha: the history of 60 years in
Hiroshima” (by: Megu OTAKI, Hiroshima University) Economics related sessions (chairs): Micro data analysis 1 (Hajime IHARA, ISM);
volatility analysis (Jiro HODOJIMA Nagoya City University); micro data analysis 2(Fumio FUNAOKA, Shinshu University); ARCH and GARCH models (Masahito
KOBAYASHI, Yokohama National University); official statistics (Akihiko ITO,
Sinfonica); statistical risk control in insurance and finance (Yasuhiro OMORI,
University of Tokyo); economic time series analysis (Koichi MAEKAWA, Hiroshima
University); statistical survey (Yoshiyuki INABA, Ministry of Internal Affairs andCommunications); analysis of financial data 1 (Toshiaki WATANABE, Bank ofJapan); econometrics 1 (Kazumitsu NAWATA, University of Tokyo); analysis offinancial data (Satoru KANOH, Hitotsubashi University); economic and managerial
statistics 1 (Kimio MORIMUNE, Kyoto University); economic and managerial
statistics 2 (Mototsugu FUKUSHIGE, Osaka University); econometrics 2 (Junichiro

FUKUCHI, Gakushuin University); micro data analysis (Yukihiko KIYOKAWA,
Hitotsubashi University); reforming the Japanese official statistics system (Takeshi
HIROMATSU, University of Tokyo); economic and managerial statistics 3 (Yoshiyuki
TAKEUCHI, Osaka University).
The new President, Taku YAMAMOTO (HItotsubashi University), gave thepresidential address entitled “Time series analysis in economics: a survey and thefuture research.”

The 74th Annual Meeting (the Japanese Joint Statistical Meeting 2006)

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Date: September 5-8, 2006
Venue: Tohoku University (Sendai, Miyagi Prefecture)
The number of sessions: 61 (ordinary: 46; special topic: 13; competition: 2)
Tutorial seminars: “Independent component analysis” (chair: Noboru MURATA,
Waseda University); “Adaptive and flexible designs in clinical trials” (by: Tatsuki
KOYAMA, Vanderbilt University)
Invited talk session: “Diminishing and aging population with fewer children: astatistical perspective on the future of Japan” (chair: Nobuhiko TERUI, Tohoku
University)
Economics related sessions (chairs): nonparametric econometrics (Kotaro HITOMI,
Kyoto Institute of Technology); The future of Japanese official statistics (Takeshi
HIROMATSU, University of Tokyo); statistical science and marketing (Nobuhiko
TERUI, Tohoku University); methodological change in population census (Fumio
Funaoka, Shinshu University); econometrics 2 (Hisashi TANIZAKI, Kobe
University); official statistics (Mikio SUGA, Tokyo International University);mathematical finance (Toshiaki WATANABE, Hitotsubashi University); newtechniques for statistical surveys (Hiroshi SAIGO, Waseda University); econometrics
2 (Eiji KUROZUMI, Hitotsubashi University); panel data analysis (Yoshinori
Kawasaki, ISM); economic and managerial statistics 1 (Yukihiko OYA, Osaka
University); econometrics for finance (Masahito KOBAYASHI, Yokohama National
University); statistical surveys in Japan and Korea (Tadahiko MAEDA, ISM);
economic and managerial statistics (Masaki KATSUURA, Meijo University); survey
sampling (Masato OKAMOTO, Ministry of Internal Affairs and Communications);
economic and managerial statistics 3 (Takashi TOYODA, Hosei University).
Two statisticians were invited from the Korean Statistical Society (KSS) as theexchange program between the KSS and the JSS. Dr. Dong Wan SHIN (Ewha
Womans University) gave an address entitled “A robust sign test for panel unit
roots under cross sectional dependence,” and Dr. Jae-Kwang KIM gave an address
entitled “Fractional hot deck imputation for multivariate missing data.”

The 75th Annual Meeting (the Japanese Joint Statistical Meeting 2007)
 Date: September 6-9, 2007
 Venue: Kobe University (Kobe, Hyogo Prefecture) The number of sessions: 57 (ordinary: 41; special topic: 13; competition: 3)
 Tutorial seminars: “Introduction to Bayesian statistics and Bayesian network”(chair: Kazuo SHIGEMATSU, University of Tokyo); “The current situation of large

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scale data analysis” (by: Tomoyuki HIGUCHI, ISM); “Introduction to competing risk
models in survival data analysis” (by: Masako NISHIKAWA, National Institute of
Public Health).
Invited talk session: “Statistical perspective on economy of the EU, Japan andKansai” (chair: Hisashi TANIZAKI, Kobe University)
Economics related sessions (chairs): economic and managerial statistics (Junichiro
FUKUCHI, Gakushuin University); statistical science and marketing (Hajime WAGO,
Kyoto Sangyo University); mathematical finance (Toshiaki WATANABE,
Hitotsubashi University); population, social and historic statistics (Masahiro ARIMA,
University of Hyogo); reformation of Japanese official statistics: the past, present
and future (Takeshi HIROMATSU, University of Tokyo); econometrics 1 (Nobuhiko
TERUI, Tohoku University); official statistics (Masaki KATSUURA, Meijo
University); econometrics 2 (Yoshihiro YAJIMA, University of Tokyo); survey
methodology and disclosure of micro data (Atsuhiro TAKI, Hiroshima University);mathematical finance with high-frequency data (Yoshihiko NISHIYAMA, Kyoto
University); analysis of micro data (Yoshiyuki INABA, Ministry of Internal Affairs
and Communications),
The new President, Dr. Genshiro KITAGAWA (ISM), gave a presidential address
entitled “The role of statistical science in the knowledge society.”

The 76th Annual Meeting (the Japanese Joint Statistical Meeting 2008)
 Date: September 7-10, 2008
 Venue: Keio University (Yagami, Kanagawa Prefecture) The number of sessions: 48 (ordinary: 31; special topic: 13; competition: 4)
 Tutorial seminars: “Meta Analysis—theory and practice” (chair: Hideki ORIKAWA,
University of Toyama); “Structural Equation Modeling” (by: Kohei ADACHI, Osaka
University)
 Invited talk session: “Statistics and Our Life” (Shigeru KAWASAKI, the Statistics

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Bureau of Japan); “Statistics at elementary, junior high, and high schools” (Atsushi
NAGAO, Ministry of Education and Science); “Mathematical Literacy in astatistician’s perspective” (Isao YOSHIMURA, Tokyo Science University). (chair:
Michiko WATANABE, Toyo University)
Economics related sessions (chairs): economic and managerial statistics (Atsushi
MAKI, Keio University); analysis of microdata 1 (Yoshiyuki INABA, Keio
University); statistical science and marketing (Hajime WAGO, Kyoto Sangyo
University); analysis of microdata 2 (Akihiko ITO, SINFONICA); economic census

84and business register 1 (Fumio FUNAOKA, Shinshu University); econometrics(Hisashi TANIZAKI, Kobe University); economic census and business register 2(Keiro HAMASUNA, Kyushu University); finance 1 (Toshiaki WATANABE,
Hitotsubashi University); secondary use of official statistics in Japan (Takeshi
HIROMATSU); finance 2 (Naoto KUNIMOTO, University of Tokyo); official statistics
and surveys (Hiromi MORI, Hosei University).
The 75th Anniversary (1) Date: May 6-7, 2006.
 Venue: University of Tokyo (Tokyo)
 Sessions (organizer)¾ Session 1: The future of the Japanese official statistical system (organizer:
Fumio FUNAOKA, Shinshu University)¾ Session 2: Statistical analysis of diminishing population (Hiroshi KOJIMA,
National Institute of Population and Social Security Research)¾ Session 3: Statistics for finance and insurance (Naoto KUNIMOTO, University ofTokyo)¾ Session 4: Future of Information Criterion (Sadanori KONISHI, Kyushu
University)¾ Session 5: Statistical causal inference and knowledge creation (Yutaka KANOH,
Osaka University)¾ Keynote speech: Classical inference theory: its role and limitations (Kei
TAKEUCHI, Meiji Gakuin University)
The 75th Anniversary (2) International Symposium Date: November 24-25, 2006.
 Venue: Hitotsubashi University (Kunitachi, Tokyo)
 Sessions (chair)¾ Session 1 (Yukinobu KITAMURA, Hitotsubashi University): topics on panel data
analysis; 3 presentations.
¾ Session 2 (Yoichi ARAI, University of Tokyo): topics on unit root andcointegration; 3 presentations.
¾ Session 3 (Katsuto TANAKA, Hitotsubashi University): topics on frontier of
econometrics; 4 presentations.
¾ Session 4 (Daiji KAWAGUCHI, Hitotsubashi University): topics on empiricalresearch; 4 presentations.

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¾ Session 5 (Naoto KUNITOMO, University of Tokyo): topics on theoretical andapplied work; 5 presentations.
The 75th Anniversary (3) Date: December 16-17, 2006.
 Venue: Hitotsubashi University (Kunitachi, Tokyo)
 Sessions (chair)¾ Session 1: Computer intensive statistics (Koichi SUGIYAMA, Chuo University):
3 presentations with discussion¾ Session 2: New frontiers of statistical science (Satoshi KURIKI, ISM): 3
presentations with discussion¾ Session 3: Promoting research and education of statistics for knowledge
creation (Michiko WATANABE, Toyo University): 2 presentations withdiscussion¾ Session 4: Survey research and statistical science (Akinori OKADA, Rikkyo
University): 3 presentations with discussion.
¾ Session 5: Statistical science and marketing (Hajime WAGO, Nagoya
University): 3 presentations with discussion.
¾ Keynote speech: Challenges in statistical research in the 21st century (Yasunori
FUJIKOSHI, Chuo University)
Other activities related to the 75th anniversary
 Publications:¾ SUGIYAMA, K., FUJIKOSHI, Y., SUGIURA, N. and KUNITOMO, N. eds., Dictionaryof Statistical Science, 2007, Asakura-Shoten.
¾ KONISHI, S., KUNITOMO, N., TAKEMURA, A., and YAMAMOTO, T. eds., Statistical
Science in the 21st Century I, II, III: Statistical Science in Society and Economy,

2008, University of Tokyo Press.
¾ The Japanese JJSS special issue for the 75th anniversary: Volume 37, March
2008.
Supports of satellite meetings:

The JSS Awards:
The following members received the JSS awards from 2004 to 2008:
 In 2004: Sadanori KONISHI (Kyushu University); Masanobu TANIGUCHI (Waseda
University); and Kimio MORIMUNE (Kyoto University)

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In 2005: Hiroyasu KUDO; Naoto KUNITOMO (University of Tokyo); and Chihiro
HIROTSU (Meisei University)
In 2006: Ritei SHIBATA (Keio University); and Yuzo HOSOYA (Meisei University).
In 2007: Masafumi AKAHIRA (University of Tsukuba); and Takashi YAYAGAWA(Kurume University).
In 2008: Akimichi TAKEMURA (University of Tokyo)

4 Future Meetings and Related Activities
The 77th Annual Meeting (the Japanese Joint Statistical Meeting 2009) will be held
on September 6-9, 2009 at Doshisha University in Tokyo. The program is now posted at
the JJSM webpage: http://www.jfssa.jp/taikai/. Some books are planned to be published
for the 75th anniversary. To emphasize collaboration with statistical societies in othercountries, the JSS will continue the exchange program with the Korean StatisticalSociety and likely expand such programs with other statistical societies.
(Shinya SAKANO, Waseda University, and Hiroshi SAIGO, Waseda University)87THE JAPAN SOCIETY OF TRANSPORTATION ECONOMICS
1. Introduction
The Japan Society of Transportation Economics (JSTE) was founded in 1941,
making it one of the oldest academic societies in Japan. The Society has 594 members,
including 24 lifetime honorary members and 37 corporate members (as of April 2008).
Because JSTE will celebrate its 70th anniversary in 2011, a task force committee for the
publication of a Transportation Encyclopedia was organized in 2008.
JSTE has held an annual meeting every fall, except for 2001, the 60th anniversary.
Two regional divisions, the Kanto Bukai (Eastern Division) and Kansai Bukai (Western
Division), hold separate meetings. The Kanto Bukai holds meetings as needed in Tokyoand the Kansai Bukai holds monthly meetings in Osaka, except for in August andMarch.
An annual meeting is usually divided into two sections. One is called Toitsu Rondai(“Special Theme,” referring to a Panel Session), which focuses on a hotly-debated issue,
while the other is called Jiyu Rondai (“General Theme,” referring to Section Meetings).
Various papers have been presented at the meetings over the last five years: both Special
and General Themes are set out in Section 3 below.
All speakers at annual meetings can submit papers to Kotsugaku Kenkyu (Annual
Report on Transportation Economics). JSTE has used the peer review system for
Kotsugaku Kenkyu since the late 1990s.
2. Research Trends in the Society after 1970
2.1 Increases in the numbers of Papers published in Kotsugaku Kenkyu
The number of papers published in Kotsugaku Kenkyu has doubled over the last 40
years. The average number of papers per year per decade in Kotsugaku Kenkyu is asfollows: 1970-79: 10.1, 1980-89: 12.5, 1990-99: 13.9 and 2000-07: 23.0.
What was the reason for this increase? The increase in the number of publishedpapers coincided with the dynamic changes that occurred in the transportation policies
of Japan. The deregulation of Japan’s transportation policy was more than 10 years
behind that of Western Europe and North America. The year the Ministry ofTransportation (MOT) abolished its regulation on capacity was 1996. Subsequently,
deregulation proceeded slowly under the reorganized Ministry of Land, Infrastructure
and Transport (MLIT). Deregulation has made transportation a more exciting area forresearch and has attracted younger scholars to the field.
To the extent that there are more young new JSTE members, the number of88submitted papers on evaluation of the deregulation policies using empirical approaches
has increased markedly. Furthermore, many new JSTE members are from fields ofmanagement and civil engineering. Additionally, the number of joint-author papers has
increased, now reaching 50% of all reports in Kotsugaku Kenkyu in 2007.
2.2 Change of Focused Modes and Fields
Table 1 shows the percentages of papers published in Kotsugaku Kenkyu focusing
on specific transportation modes after 1970. If a paper was related to more than twomodes, it was counted in both modes.
The percentage of “Across-Transportation” papers has decreased; this appears tobe the result of the transportation research field becoming more specialized with respect
to one particular mode or topic. This trend is probably related to the fact that the numberof empirical studies among JSTE members has increased. Because transportation data
are collected and published according to each mode, it is difficult to adjust them forcomparisons among modes.
The definition of “Public Transportation” is unambiguous. In this report, public
transportation refers to several modes including railways, mass transit, buses and taxis(a concept opposite to that of private transportation). The number of papers categorizedin public transportation remains stable, at around 30-40%.
This means that many members are interested in public transportation, which has
faced various problems for some time. The almost-bankrupt Japan National Railways
was privatized in 1987 as the JR Group, and divided into seven regional companies.
Subsequently, some of these JR companies faced financial deficits because of further
decreasing demand and competition with automobiles and other forms of transportation.
Most urban transportation has also suffered from passenger decreases, consequently
receiving local government subsidies. JSTE focused on this problem as a Special Themeat its 2003 annual meeting.
Because of an outflow of population and the aging of those remaining in rural areas,
local governments are increasingly facing financial difficulties and find it hard tomaintain local transportation networks. Many municipalities are not sure whether tochoose a policy of “efficiency” or of “the national minimum” in which mobility isprovided for the socially vulnerable. Thus, various ideas and proposals have been put
forward to maintain existing networks such as community buses and taxis. Hence, there
have been more research papers on the subject published.

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Table 1

Percentages of Modes and infrastructure in Kotsugaku Kenkyu
1970-79

1980-89

1990-99

2000-07

Public Trans. (Rail, Bus and Taxi etc.)

38.3

32.2

39.3

36.7

Highway Traffic and Infrastructure

9.4

8.4

15.3

19.9

Airports and Aviation

7.8

7.0

11.7

14.8

Maritime Trans. and Ports

12.5

4.9

3.1

3.7

Freight, Logistics and Supply Chain

4.7

8.4

6.6

9.4

25.8

38.5

20.4

8.1

0.0

0.0

1.5

40.4

1.6

0.7

2.0

3.0

100.0

100.0

100.0

100.0

1970-79

1980-89

1990-99

2000-08

50.8

48.3

32.1

36.0

Regulation Problems and Deregulation

2.3

2.1

9.2

5.0

Investment and Finance

9.4

9.8

11.7

11.9

Environment, Energy

3.9

5.6

1.5

7.7

5.5

4.2

8.2

5.7

Regional and Urban Problems, Development

10.9

16.1

23.0

17.6

International Comparison, Foreign Countries

15.6

10.5

12.8

15.3

Others

1.6

3.5

1.5

0.8

100

100

100

100

Across-Trans, Comprehensive Trans.
PolicyTourism
Others (Information, Communication andParking, etc.)
Total

Table 2

Percentages of Topics in Kotsugaku Kenkyu

Transportation Economics, Market andManagement

Social Problems (Labor, Aging, Disaster
Prevention, Technology, etc)

Total

Reflecting the trend of deregulation in advance of globalization, Airports andAviation accounted for 14.8% for the period 2000-07, which was double that for
1970-79. On the other hand, Maritime Transportation and Ports shows an opposite trend.
90Many Asian countries have however, indicated a decrease in the importance of thismode because the related mode of Freight, Logistics and Supply Chain shows anincrease. The choice of mode for international freight is competitive and cost-conscious,and as such is related to the strategic investment in industries to promote thecompetitiveness of their own companies and infrastructure. Many scholars working inthis area belong to the Japan Society of Logistics and Shipping Economics, and to The
Japan Port Economics Association, both have close relationships with JSTE.
Table 2 shows the percentages of various topics focused on in the papers publishedin Kotsugaku Kenkyu after 1970. Although their percentages have fallen, Transportation
economics, Market and Management, items such as transportation fare, costs, pricing
and demand, have remained the main themes in JSTE. Regulation Problems andDeregulation, has been added into Transportation Economics, Market and Management.
The difference in the number of transportation topics covered between the 1970s and2000s is about 10%.
Studies that focused on regional and urban transportation in Kotsugaku Kenkyu
were assigned to the category of Regional and Urban Problems and Development. This
category focuses on the needs of residents who rely on such transportation. It also
includes methods for calculating the impact of transportation on regional economies.
The policies proposed differ among regions, and management performance depends on
factors such as the regional economy and demographic characteristics. JSTE isconcerned in the sustainability of regional transportation and its relationship to theregional economy; this topic was a Special Theme in both 2003 and 2006.
Transportation Economics is an area of applied economics in which economic
theories and empirical methods are applied to transportation phenomena andtransportation problems that have several common characteristics around the world.
Therefore research in the topic of International Comparisons and Foreign Countries isvital to JSTE. As the table shows, there is not much difference in the percentages
between the 1970s and the 2000s. Although some papers before the 1970s wereintroductions or reports of the then current state in foreign countries, more of the recent
studies incorporate original data and materials.
3. Annual Meetings of the Last Five Years
In this section, the Special Themes of annual meetings are introduced. The General
Theme papers are listed according to the Special Theme to which they are related.
3.1 62nd, 2003: New Development of Transport and Cities/Regions, at Hiroshima

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Shudo University
Hitoshi IEDA (Tokyo University) et al. focused on the shortage of middle distanceusers on rural toll roads. They proposed measures to improve the use of toll roads.
Katsuhiro YAMAGUCHI (MLIT) and Ryouji MAKU (Mitsubishi Research Institute, Inc.)
estimated the costs of inter-prefecture movement, and they suggested that relieving
congestion in major metropolitan areas would lead to improvements in economic
productivity. Kazuhiro OHTA (Senshu University) proposed a new decision making
process for local transportation policy.
The following General Theme papers from the last five years focused on similar
issues.
-Yoshinori TAKAHASHI (Kinki University) “Local Bus Operation by Nonprofit
Organizations ― An Analysis on Some Pioneering Cases in Japan,” 2003.
-Masafumi TAMURA (Tohoku University) and Kei FUKUYAMA (Tohoku University) “A
Study of Cooperative Transportation Network Building between Local Governments,”
2003.
-Daisuke SUNAGA (The Institute of Behavioral Science) et al. “A Study on the Use ofExpressways and Interregional Cooperation in Rural Areas,” 2003.
-Takayoshi FUJITA (Seoul National University) “A Study of the Seoul Bus System
Reform Program and Political Background,” 2004.
-Shinji HAYAKAWA (Keio University) “Unconventional Transportation Services inJapanese Rural Areas,” 2004.
-Yugo YAMAMOTO (Oita University) “Possibility of Fare Reduction in Taxi Service ―A Study of Taxi Service in the Aging Society,” 2004.
-Katsumi TANABE (Institute for Transport Policy Studies) “National Minimum Standard
for the Public Transport in Rural Areas ― A Daily Activity Approach,” 2004.
-Eiko TERADA (Hiroshima City University) “Bus Challenges in England and the Way
They Encourage Local Governments: Fact-Finding Studies of Demand Responsive
Transportation in South East and South West England,” 2004.
-Katsuhisa TSUJIMOTO (Wakayama University) and Kazuhiro NISHIKAWA (Osaka City
University) “The Role and Feasibility of Voluntary Administrated Local Public
Transport in a Depopulated Area: A Case Study of Hongu Town, Wakayama
Prefecture,” 2004.
-Takao GOTO (Keio University) and Akihiro NAKAMURA (Tezukayama University) “A
Presumption of the Social Optimal Fee Collection from Parked Vehicles on the Street ―The Case Study of “Yasukuni Street and Meiji Street,” 2004.
-Genki OOI (Hokkaido University) and Shinei TAKANO (Hokkaido University) “Trial

92

Operation of Community Bus Service Utilizing Private Shuttle Bus Services, andResults of Mobility Management for Increasing Bus Users,” 2007.
3.1.1 63rd, 2004: Effective Use of Social Infrastructure and Its Operation, at Fukuoka
University
In accordance with privatization trends from Europe, the Japanese Government
decided to break up and privatize the Japan Highway Public Corporation (JHPC) in
2003. This Special Theme focused on transportation management through verticalseparation. Masamichi HORI (Sakushin University) argued how to maintain the“publicness” of infrastructure within such vertical separation. Masahide DAIGO (Kansai
Gaidai University) introduced the privatization of the UK rail system and pointed out
the shortage of investment in vertical separation. Kazushige TERADA (Tokyo Universityof Marine Science and Technology) evaluated the Quality Bus Partnership in England.
Hiroshi NISHIMURA (Osaka City University) criticized the privatization of JHPC for its
lack of debate on highway roles and the efficient use of highways.
The following General Theme papers from the last five years focused on similar
issues.
-Toshiki SHIMODA (Gakushuin University) “A Study on the Effect of the Diffusion
Measures for ETC,” 2004.
-Yuki MISUI (Hitotsubashi University) “The Cost Responsibility in Highway Investment
by Road Users,” 2004.
-Toru FUJIWARA (Meikai University) and Katsuhito HASUIKE (Nomura ResearchInstitute) “An Impact Analysis of Mileage Tax on Road Transportation,” 2004.
-Yuichiro YOSHIDA (Kokusai University) “Partial Equilibrium Analysis of Socially
Optimal Pricing and Capacity of a Congestible Highway with an Elastic Demand,”
2004.
-Kiyotaka YUGUCHI (Sagami Women’s University) and Hirokazu NISHIZAWA (MLIT) “A
Study on Airspace Pricing,” 2004.
-Koichiro TEZUKA (University of Fukui) and Yukihiro YASUDA (Tokyo Keizai
University) “The Possibility of the PFI and the Third Sector Approach forManaging a Transport Infrastructure,” 2004.
-Masashi OKUSHIMA (Gifu University) and Takamasa AKIYAMA (Gifu University)“Discussion on a Distance-Based Toll System for Urban Expressways with User
Equilibrium Traffic Flow Analysis,” 2005.
-Mariko FUTAMURA (Aichi University) and Takamune FUJII (Aichi University)“Measuring the Effectiveness of Transport Infrastructure: Border Effect in Chukyo
District, Japan,” 2005.

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-Hisashi OOI (Kobe University) “Econometric Analysis of Daisan Sector (Quasi-Public/
Mixed Enterprise) Local Railway Companies’ Cost Structure,” 2006.
-Kazutoshi YUIZE (National Institute of Advanced Industrial Science and Technology)“A Research of Bus Terminals and Bus Terminal Business,” 2006.
-Yasushi HIGASHIMOTO (Nippon Data Service Co. Ltd) “Study of Restructuring
Subway-Transit Bus Terminals in the City of Sapporo by DEA,” 2006.
-Hideshige SHIOHATA (Nittsu Research Institute and Consulting, Inc.) “A Study of theDevelopment of Central Facilities for Port Logistics,” 2006.
-Masumi SUEOKA (Nexco-Engineering Tohoku Company Limited) and Kazuhiro
KIMURA (Akita University) “A Study about the New Highway Management and Its
Evaluation,” 2007.
-Toshinori NEMOTO (Hitotsubashi University) et al. “Road Network Development byDistance-Based and Social Cost Pricing Scheme,” 2007.
-Katsuya HIHARA (MLIT) “Quantitative Analysis about the Payoffs of a Load Factor
Guarantee Mechanism for Noto Airport,” 2007.
-Hideki FUKUI (Ehime University) “An Analysis of Slot Trading at O’Hare Airport,”
2007.
3.2 64th, 2005: Tourism and the Role of Transport, at Keio University
This was the first time a JSTE Special Theme focused on tourism. The Japanese
government began a “Visit Japan Campaign” in 2003 to increase the number of inboundtourists. Both the tourism and transportation industries belong to the tertiary (service)sector of the economy, one in which a flourishing tourism industry affects transportationindustries. Improvements in transportation would be an important factor increasing not
only international but also domestic travel. Nevertheless, there had been no large
accumulation of data or empirical studies on the subject.
Kenichi ASOH (Nara Prefectural University) pointed out that travel expenditures
were elastic with respect to changes in disposable income, but inelastic with respect toreal household financial assets. Kenji TANAKA (MLIT) analyzed the travel behavior of
East Asia tourists. Kazuhiro OHTA reviewed the Tourism Satellite Account of 2001,
which was recommended for application as a tourism program by the System of
National Accounts 1993 (93 SNA). Sayaka SHIOTANI (Kyoei University) and Ushio
CHUJO (Keio University) discussed Japan’s tourism policies and noted how the freeentry of humans and capital resources could lead to a revitalization of the Japanese
economy.
The following General Theme papers from the last five years focused on similar94

issues.
-Hidenobu OKANO (Osaka Meijo University) “Transportation for Tourism ― The Case
Study of the Kobe City Loop Bus,” 2003.
-Hideaki KASE (Takachiho University) et al. “The Role of Transport Services in the
Attraction of Tourists: From the Five-Year Experience in Miyazaki,” 2005.
-Yasushi SUGO (Institute for Transport Policy Studies) et al. “A Basic Study on
Improvement of Tourism Railway Services for Activation of Sightseeing Places
near the Metropolitan Area,” 2005.
-Shinji HAYAKAWA (Institute for Transport Policy Studies) “Issues on a Toll-Free
Scheme for Sightseeing Toll Roads ― Road Charging as a Substitute for
Admission Fees to Nature Spots-,” 2006.
-Hiromi KAMATA (Hitotsubashi University) “Why does a Traveler Choose Any
Particular Destination? ― Effect of Accessibility on Destination Choice inTourism,” 2006
3.3 65th, 2006: Urban Renaissance and Transport Policies, at Hokkaido University
In Japan, many city centers face declining prospects as a result of the outflow ofcompanies, commercial facilities and residents. Motorization and the resulting
suburbanization it encourages are main reasons for an increase in this decline. What role
does transportation have in urban renaissance programs? How can transportationcooperate with city planning? JSTE members discussed these problems for this Special
Theme.
Muneki YOKOMI (Osaka University of Commerce) focused on city center
revitalization. He conducted field research at Noshiro City, Akita prefecture, andconcluded that storekeepers in city centers prefer self-effort to transportation policies toincrease business. Mami AOKI (Doshisha University) presentation was on central
government’s subsidies for the public transportation system. Kazusige TERADA
evaluated several municipal community bus services. Toshinori NEMOTO and Hirohito
KUSE (Tokyo University of Marine Science and Technology) argued that the use of
public private partnerships (PPP) is effective for combating urban freight problems.
Some of the General Theme papers focused on similar issues to those introduced
above in Section 3.1; the following are additional papers that put more emphasis on city
planning.
-Toshiji TAKATSU (Japan Railway Construction, Transport and Technology Agency) andKeiichi SATO (Hokkaido University) “A Positive Study on Measures for the
Harmonization on Urban Railway Development and Urban Planning ― Evaluation95

and Issue of the Fund by Urban Developer,” 2005.
-Takamasa AKIYAMA et al. “Empirical Analysis of the Railway Station and Town
Management Concerning Urban Activities,” 2007.
3.4 66th, 2007: Globalization of the Economy and the Infrastructure of Transportation,
at Chuo University.
Shigeki OZAWA (Institute of Transportation Economics) pointed out that the
reduction in the container ships docking in Japan is the consequence of changes in the
structure of trade. He thus concluded that the Japanese government should enhance its
primary port functions, partly by shortening handling times. Katsuhiro YAMAGUCHI(University of Tokyo) made a presentation on emission trading in the area ofinternational air transport. He maintained that the development of fuel-efficient aircraft
and air traffic control systems is imperative. Hideo KAYAHARA (The Japan Port andHarbour Association), Keiichi SATO discussed a “Vision for the Northeast Asia
Transport Corridors.”
As stated above, studies on foreign transportation systems is one of the core fields
for JSTE. As such, the number of papers related to international transportation as aSpecial Theme has grown over the years. The following General Theme papers from thelast five years focused on similar issues.
-Aki KAWAJIRI (Institute of Transportation Economics) “Effects and Evaluation of
ISTEA and TEA-21 for Development of Transit Systems in the US ― Focus on
Institutional Framework of Flexible Fund,” 2003.
-Koichi KONDO (Ritsumeikan University) and Masami MORITA (Ohkagakuen
University) “Local Policies for Decentralization and Competition of Regional
Public Transport in Germany,” 2005.
-Hitoshi OGUMA (Chuo University) “The Role and Issue of Transport Service Provided
by a Non-Profit Organization in a UK Rural Area ― Case Study for Community
Transport and Devon County Council,” 2005.
-Taekyu KIM (Institute for Transport Policy Studies) “A Study on Provision of Airport
Logistics Parks,” 2005.
-Nobuaki ENDO (Tokyo University of Mercantile Marine) “Analysis of Deregulation ofAccess to Foreign Airline Markets and Subsequent Changes in Corporate
Behaviors,” 2005.
-Hideki MURAKAMI (Kobe University) “An Empirical Analysis of the Dynamic Effect of
Low-Cost Airlines’ Entry on Market Performance: A Case of the US 3-Firm
Oligopoly Air Markets,” 2005.

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-Masahide DAIGO, “Post-Hatfield Scheme of British Railways and Lessons Gained,
2006.
-Kazuya ITAYA (Toyota Transportation Research Institute) “A Comparison of Japan andFrance concerning Urban Transportation Policy Decisions from Organization
Theory,” 2006.
-Mami FURUHATA (Hitotsubashi University) “The Single European Sky by
Liberalization and the International Aviation,” 2006.
-Varattya JANGKRAJARNG (Hitotsubashi University) “Airline Alliance Consolidation’s
Effect on Companies Productivity and Profitability,” 2006.
-Sotaro YUKAWA (Kyoto University) “Urban Public Transportation and Public
Governance ― A Case Study of the Urban Transit System in the Early 20th
Century United States,” 2007.
-Kazuma SUZUKI (Central Japan Railway Company) “A Study of Investment in British
Railway Infrastructure,” 2007.
-Makoto AOKI (Tokyo Keizai University) and Kiyotaka YUGUCHI “Analysis ofManagerial Systems in Public Passenger Transport in French Cities,” 2007.
4. Conclusion
At one time, transportation was a very specialized field in economics. However,after deregulation it grew up as a field of applied microeconomic theory. It is again
undergoing a process of change to become more practical with more empirical analysis.
Even papers on the foreign experience of transport policies have moved away frombeing just descriptive. Today, unless a paper presents original data and quantitative
approaches, it will not be accepted for publication in Kotsugaku Kenkyu.
As a discipline, transportation economics has tended to dive into specialized areas.
It has, however, become an interdisciplinary field, as can be seen in the cases oftransportation management and tourism, both of which JSTE has designated as Special
Themes in recent years. Transportation economists have many opportunities to workwith researchers in the fields of civil engineering, management, accounting and social
studies. They attempt to apply their knowledge to our traditional areas in novel ways. A
process of interaction can thus be observed at work.
Although deregulation policies are a common a trend, particularly after 1996, somepeople have criticized the expansion of income disparity as a result of deregulation
policies; though a causative link remains unproven. People can be easily swayed by theopinions of others, with “environment” becoming something akin to a fashion statementof the moment. The aging of Japanese society is a reality, and as a result carbon

97emissions will likely decline naturally; but most estimations take only the present
situation into account. It has still to be shown that environmentally-oriented decisions
are made at the expense of efficiency. In this way, what people demand is not always thebest course of action.
Governmental policy failures of the past have dished up a negative legacy for thepresent generation, which will be responsible for passing on this negative legacy tofuture generations. Researchers, including transportation economists, must have “eyes”
that see beyond the apparent circumstances we face, and must strive to pursue whatshould be done, not what people think they need.
(Kazusei KATO, Nihon University)98