No. 32
ISSN 0289 - 8721

C ASSOC
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Information Bulletin of

The Union of National
Economic Associationsin Japan

日本経済学会連合

2012

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Correspondence to be addressed:
Secretariat of the Union of National Economic Associations in Japan,
c/o School of Commerce,
Waseda University,
Nishiwaseda 1-6-1,
Shinjuku-ku,
Tokyo 169-8050, Japane-mail: rengo@kurenai.waseda.jp

COPYRIGHT 2012
Printed in Japan.
ISSN 0289-8721

BY THE UNION OF NATIONAL ECONOMIC ASSOCIATIONS IN JAPANINTERNATIONAL BUSINESS INSTITUTE, CO., LTD. Tel. +81-3- 5273-0473

Editorial Committee
Katsuaki ONISHI, Senshu University
Naoki SENDA, Yamanashi Gakuin University
Takayuki MATSUI, Aoyama Gakuin University
Shuichi NAKAGAWA, Meiji University
Mazuru NAKAMURA, Aoyama Gakuin University
Shujiro URATA, Waseda University
Toshihiko MATSUO, Tokai University
Nobuaki ENDO, Tokyo University of Marine Science andTechnology
Hajime TAKAHASHI, Sakushin Gakuin University
Michihiko TOKORO, Osaka City University
Directors of the Union

President

Kenichi ENATSU, Waseda University
Fumihiko HIRUMA, Waseda University
Tetsuji OKAZAKI, University of Tokyo
Hiroshi OTSUKI, Waseda University
Shujiro URATA, Waseda University
Mitsuhiko TSURUTA, Chuo University
Yasuhiro OGURA, Toyo University
Katsuaki ONISHI, Senshu University

Yoshiaki TAKAHASHI, Chuo University
Yoshiharu KUWANA, J. F. Oberlin University
Secretary General
Masataka OTA, Waseda University
AuditorYoshihiro TOKUGA, Kyoto University
Yoshimasa TOMOSUGI, Waseda University
Emeritus
Takashi SHIRAISHI, Keio University
Osamu NISHIZAWA, Waseda University
Yasuo OKAMOTO, University of Tokyo

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 60th
anniversary in 2010, 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 2012, the Union had a membership of 64
associations, as listed on pp. 92-113.
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 anddistribution of academic material concerning Japanese economics and papers presented by member
scholars, (2) the sending of members to overseas conferences, (3) the holding and supporting ofinternational 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 andthe 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
Congress of the IEA in Tokyo from August 29 to September 3, 1978. The Union joined theInternational 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 in East 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 the world economy, the Japanese economy, andJapanese management.”
To commemorate the 60th anniversary of this Association, a special lecture program was held at
the Waseda University Okuma Auditorium on October 12, 2010. Three lecturers were invited, each ofwhom spoke from his own perspective on how Japan’s economy and Japanese business, in the midst of
this once-in-a-century global recession, should solve their present plight and forge new routes for the
future.
The Union celebrated in 1980 the 30th anniversary of its founding by launching a variety ofactivities, including the publication of The Information Bulletin. Prof. Paul Snowden of Waseda
University acts as editorial 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
ADMINISTRATIVE SCIENCE, THE JAPANESE ASSOCIATION OF................................1
AUDITING ASSOCIATION, JAPAN......................................................................................8
ECONOMIC GEOGRAPHERS, THE JAPAN ASSOCIATION OF...................................15
ECONOMIC POLICY ASSOCIATION, JAPAN.....................................................................22
INDUSTRIAL STUDIES, THE SOCIETY FOR ..........................................................32
INTERNATIONAL ECONOMICS, THE JAPAN SOCIETY OF..........................................40
LOGISTICS SOCIETY, JAPAN...............................................................................................49
LOGISTICS AND SHIPPING ECONOMICS, JAPAN SOCIETY OF.................................58
SECURITIES, THE SOCIETY FOR THE ECONOMIC STUDIES OF..........................74

SOCIAL POLICY, THE SOCIETY FOR THE STUDY OF..................................................84

LIST OF MEMBER ASSOCIATIONS..............................................................................92

THE JAPANESE ASSOCIATION OF ADMINISTRATIVE SCIENCE
Ⅰ. Introduction“Administrative Science” is the term produced from academic activity unique toJapan, and the root of this phrase goes back to the term “behavioral science” that wasnamed by the psychologist J. MILLER (University of Chicago) in 1949. Behavioral
science was a new academic discipline which approaches human behavior bothinterdisciplinarily and scientifically. Early in the 1950s, “organizational psychology”,
which extends the subject of research to development of behavioral science in an
organization, was born. Furthermore, “organizational behavior”, which performs aninterdisciplinary approach on the basis of organizational psychology was developed atbusiness schools. At this time in the United States, many research fields bloomed, suchas job satisfaction, motivation, leadership, organizational
communication, career development, and corporate culture.

commitment, personal

In the 1980s, in Japan, Mitsuru WAKABAYASHI (Nagoya University and Aichi Gakuin
University) and Mamoru SANO (Aichi Gakuin University) advocated a new learning
system which was going to clarify management phenomena while integratingorganizational psychology and organizational behavior into business administration, thatis Administrative Science. Moreover, they aimed to make an academic community forconnecting business administration and psychology and for that, they established The
Research Group in Administrative Science in 1985 and published a new academic
journal named The Japanese Association of Administrative Science(Keiei Koudo
Kagaku).To look back on that time, “the three sacred treasures” were praised against thebackground of a good economy in the business administration of Japan, and topics
about the people in an organization had been discussed in the context of Japanesemanagement, such as the lifetime employment system and the seniority system. In thatsense, the attempt to join psychology to business administration was a new approach.
On the other hand, in business activity in the United States, they were sufferingfrom a decline of the manufacturing industries and the following depression. At thattime, the research into such matters as reforming, reproduction and organizational
justice was done enthusiastically in order to pull back their management. When the
1990s came, competitive power was restored to U.S. companies by what is called the“new economy”. On the contrary, Japan fell into the collapse of the bubble economy fora long term of economic stagnation, and Japanese management turned around to
become a victim of the fetters of global corporate competitiveness.
In such a historical background, the opportunity for organizational behavior as the1universality of human action in an organization to carry out a major task in businessadministration grew among researchers, instead of the approach of management stylecomparison between Japan and the US.
Then, the Japanese Association of Administrative Science (JAAS) was founded in
1997 in a form that expands the activity of the Research Group in Administrative
Science. There were a little less than 100 members when we began, but now we have
792 members (775 individual and 17 corporate members) as of September, 2012. The
foundation of our expansion was the originality focused on a new area of research calledadministrative science, and the leadership to establish and systematize the Associationin the way that the first chairman, Professor Mitsuru WAKABAYASHI, showed us.
Therefore, we grasped “administrative science” as “behavioral science of management”
and had the aim to establish administrative science as a new learning field from theviewpoint of behavioral science centering on organizational psychology, focusing not
only on individuals but also on groups and organizations. Moreover, JAAS has beenencouraging the description, analysis and prediction of various administrative behaviors
that an organization performs to make full use of several methodologies, such as not
only psychology but also sociology, economics and natural science.
Since then, there are many members such as researchers from various academic
disciplines and businesspersons who have variegated backgrounds in JAAS. They havebeen trying to tackle topics about the subject of an activity (management organizations,groups, individuals) in all management fields such as organizational behavior andorganizational structure, organizational behavior concerning production, R&D, sales,
etc., behavior for groups and individuals, human resource management, work place
adaptability, and globalization and communication, both empirically and scientifically.
In parallel with such actions, we also make great efforts for “the integration ofresearch based on interdisciplinary collaborations between industry and academia inorder to construct a new theoretical framework exceeding the conventional paradigm”.
That is, the journey of our development is emergent evolution by the mutual
influence of the diverse members who have different backgrounds. We use “diverse” tomean industry-academia and interdisciplinary. There are two main reasons why wechoose such a process. One is that the width of the range of learning for administrative
science has encouraged the object of the research and the diversity of the method.
Another is that behavioral science, that administrative science is based on, continues toextend its application areas.
JAAS has introduced research section meetings in order to systematize various
areas of research and research activities, and the Association is classified in seven2divisions namely business organization, organizational behavior, human resourcesmanagement, work place adaptability, international management, research methodology
and business strategy. In addition to these divisions, there are three regional chapters:
Eastern Japan, Central Japan and Western Japan.
The Association is administered by the board of 10 managing directors and sevenresearch area chairpersons, all of whom are elected every two years. The successive
Presidents of JAAS are as follows:
1997-1999 Mitsuru WAKABAYASHI(Nagoya University and Aichi Gakuin University)
2000-2001

Toshihiro KANAI (Kobe University）

2002-2003
2004-2005
2006-2007
2008-20092010-2011

Naotaka WATANABE (Keio University）
Yasuaki KIDO （Sanno University）
Yasuo HOSHINO (Aichi University and University of Tsukuba）
Toshihiro MATSUBARA (Aichi Gakuin University）
Mitsutoshi HIRANO (Kobe University)

2012-

Motohiro MORISHIMA (Hitotsubashi University).

This year, JAAS greeted the 15th anniversary of its establishment.
Ⅱ. Major Activities(1) Annual Conferences
The Annual Convention of JAAS has been held every autumn, providing
opportunities for members to present their current studies. We have experimented withnew forms of presentations such as symposium, panel discussion, forum, lecture and soon.
The 15th Annual Convention of JAAS was held on November 17-18, 2012 at Kobe
University. A main feature was a special symposium entitled “Designing Global
Management and Developing Global Leaders”. Mr. Masahiro SAKANE, who is thechairman of the board of Komatsu Corporation, as a keynote speaker gave a lecture
about “How Komatsu reform global management in the changing world” followed by apanel discussion with Yosuke YAGI (LIXIL Group), Hirohisa NAGAI (University ofTsukuba) and Toshihiro KANAI (Kobe University). In this panel discussion,businesspersons and researchers had an animated discussion how to develop a global
leader.
The 14th Annual Convention of JAAS was held on November 26-27, 2011 at Meiji
3

University. There were 72 research presentations, seven case studies and five
symposiums. One of the symposiums was “On Qualitative Methodology” and discussed
by Makoto MATSUO (Kobe University), Ikuya SATO (Hitotsubashi University) andToshihiro KANAI (Kobe University). The qualitative approach, such as ethnography,
action research and grounded theory, was explained through the actual research done byeach panelist; then the panelists discussed specific ways to develop qualitative researchon administrative science.
The 13th Annual Convention of JAAS was held on November 13-14, 2010 at the
University of Hyogo. There were 70 research presentations with 18 sessions. We had
also a panel discussion, forums and a symposium.
The 12th Annual Convention of JAAS was held on November 7-8, 2009 at Tokyo
Institute of Technology.
The 11th Annual Convention of JAAS was held on November 8-9, 2008 at Chubu
University Nagoya Campus.
(2) The Association’s Award (JAAS Award)
JAAS has awarded members who published the most outstanding book or paper inthe past one year from 2003. The Award is composed of the Academic Award for
Research, the Academic Award for Case Studies, and the Award for Encouraging
Research. The Awards in the last five years are as follows:2011 Academic Award for Research: Toshihiro KANAI, Ikuya SATO, Gideon KUNDA
and John Van MAANEN with a book titled Organizational Ethnography (Soshiki
Esunogurafi), published in 2010 from Yuhikaku Publishing, Tokyo.
2011 Award for Encouraging Research: 1) Ikutaro ENATSU with a case study titled“The Background of Perceived Fairness of Rewards: How Employees Accept
Unclearness in Their Rewards”, from Japanese Journal of Administrative Science(JJAS) (Keiei Koudou Kagaku), Vol.23, No.1. 2); Daisuke OSATO with a case study
titled “The Characteristics of Career Counseling for Young Adults: The Case of a Public
Employment Service Agency for Young Adults”,（coauthor Tomoki SEKIGUCHI）publishedin JJAS, Vol.23, No.2.
2010 Award for Encouraging Research: Akira HORIKAMI with an article titled “How
Project Managers Make Decisions in Critical Situations”, published in JJAS, Vol.22,
No.3.
2009 Academic Award for Research: Kenichiro TANAKA with a book titled
Crumbling Workplace/Rebellious Workforce (Kouhaisuru Syokuba/Hangayku suru
Jyugyoin), published in 2008 from Nakanishiya Syuppan, Kyoto.
42009 Award for Encouraging Research: 1) Hiroo MATSUBA with an article titled“The Effect of Permeation of Management Philosophy on the Satisfaction of Customer
and Employee: An Enterprise Case Study”, published in JJAS, Vol.21, No.2. 2); Hamid
HASSAN with the article titled “Beginning of Stock Option-Based Compensation in
Japan: A Test of Alternative Theories”, (coauthor Yasuo HOSHINO) published in the
Journal of Financial Management and Analysis, Vol.21, No.2.
2009 Academic Award for Case Studies: 1) Hiroyuki ITO with a book titled The
American Company (Amerikan kanpani) published in 2009 from Hakuto Management,
Tokyo. 2); Katsunori MORITA with a book titled The History of Japanese Marketing(Nihon no Maaketingu Shi) published in 2007 from Keio University Press, Tokyo.
2008 Academic Award for Research: 1) Norihiko TAKEUCHI, Norikazu TAKEUCHI andYutaka TOSHIMA with an article titled “Applicability of a Multilevel Analytical Method
to Human Resource Management Research: An Examination of the Effects of Human
Resource Practices and Organizational Climate on Work Attitudes and Behavior”,
published in JJAS, Vol.20, No.2.
2008 Award for Encouraging Research: 1) Atsushi INUZUKA with an article titled“Message Transfer from Franchise Headquarters to Outlets: Message Acquisition and
Human Relations in Outlets”, published in JJAS, Vol.20, No.2.(coauthor Yuko SUZUKI).
2) Tsung-ming YEH with an article titled “Bank Directorships and Bidder’s Returns inJapanese Takeovers”, JJAS, Vol.20, No.2.
2007 Academic Award for Research: 1) Mitsutoshi HIRANO with a book titledJapanese Human Resource Management: Its Emergent Process and Performance(Nihongata Jinjikanri: Shinkagata no Hassei Purosesu to Kinou）from Chuokeizai-sha
in 2006. 2); Mario Henrique OGASAWARA and Yasuo HOSHINO with an article titled “TheImpact of Ownership, Internalization, and Entry Mode on Japanese Subsidiaries’
Performance in Brazil”, published in Japan and the World Economy, Vol.19.
2007 Award for Encouraging Research: 1) Tsunetoshi HORIE with a paper titled“Relation between Knowledge Contribution and Intrinsic Motivation within An R&D
Organization”, published in JJAS, Vol.20, No.1（coauthors Atsushi INUZUKA and Yasuo
IKAWA). 2) Yoichiro HAYASHI with an article titled “Collective Justice Perceptions inGroup-Oriented Culture: Proposal of a New Construct”, published in JJAS, Vol.19, No.3.
(coauthor Tomoki SEKIGUCHI).
In addition to the JAAS Award, we created a prize entitled “the best paper in theannual convention of JAAS” in 2007. The best paper is selected every year from “theAnnual Meeting Announcement of Collected Papers” published by the annual meeting5

of JAAS. This prize is given for a great paper and author who are expected to contributeto research in administrative science or development of business in the future and one or
two papers are selected for the purpose of encouraging the further development of an
author's research.
(3) The Journal, Japanese Journal of Administrative Science
The Japanese Journal of Administrative Science (JJAS) is a refereed journal of theJAAS, which is published three times per year. JJAS intends to integrate issues ofadministrative science to discuss theoretical and empirical analyses of businessadministrative phenomena. This refereed journal includes articles, research notes,
research resources, investigation reports, case studies and book reviews in such areas asmanagement, organization, human resources management, marketing and international
business. As a big feature of this journal, anybody can submit papers free of charge andwithout becoming a member of JAAS. The PDF file of this Journal is available toanybody without charge and without becoming a member of the National Institute ofInformatics (NII) through its database named GeNII.
http://ge.nii.ac.jp/genii/jsp/index.jsp(4) Book, The Handbook of Administrative Science
We published The Handbook of Administrative Science from Chuokeizai-sha,
Tokyo in 2011 as our 10th anniversary event. This handbook is based on our
accumulation of research results so far, and explaining and publicizing to society about
the front line of administrative science, and important topics of the future. The featureof this handbook is that not only researchers but also students and businesspersons aretargeted as the readers; therefore, it explains systematically and plainly to enable allreaders to understand all aspects from classical theory to the newest findings in research.
Altogether 103 concepts and topics in connection with administrative science wereselected from seven research areas (namely research methodology, businessorganization, organizational behavior, human resources management, work place
adaptability, international management and business strategy) through active discussion
by the member of the handbook editorial board meeting, and 85 JAAS members havewritten on each theme.
Ⅲ. Future Challenges
Japan has faced various trials since JAAS was established. In 1997, Japan rushed
into an employment depression ignited by the failure of large securities finance6

corporations. In 2008, a simultaneous global recession which stemmed from theinternational financial crisis hit the administrative behavior of many companies directly.
For example, the downsizing of non-regular employees was seen as “slashing temporary
workers”, and brought about a big social issue. Moreover, there were many people who
experienced a serious turning point (transition) in their whole careers, including
unemployment and change of occupation, and for that reason, the general mobilizationof the knowledge of administrative science was required for workplace adaptation andorganizational behavior in business. Many of our members advanced research on
administrative behavior which happened in the meantime and acquired new knowledge.
There are plenty of the latest works of our members’ research over 15 years in the
Handbook of Administrative Science.
The Great Eastern Japan Earthquake happened on March 11, 2011. By such an
unprecedented natural disaster, Japan now faces the greatest national crisis since WorldWar II. Although JAAS maintains “the investigation of the optimal state for correlationof people and an organization” as our mission, but we had to consider the limits ofhuman beings and organizations when we saw this excessive natural destructive power.
However, one forcible step towards the revival of people in the stricken areas started
there. We pray for the process of peaceful recovery of the stability of the stricken area,
the disaster victims and their revival, and also the revitalization of Japan. We believethat JAAS can contribute with its knowledge of administrative science in many cases.
At the same time, we also have to begin research adapted to the process of revival.
Research of administrative science exists in the process in which a bridge isconstructed in between the practical demands of the times and scientific bases. The
importance for the expansion of administrative science is intellectual work which
involves dynamic interaction between practical needs and academic activities. JAAS
exerts itself for the research and practice of administrative behavior which will lead torevitalization of Japan.
(Mitsutoshi HIRANO, Kobe University)

7

JAPAN AUDITING ASSOCIATIONThe Japan Auditing Association (hereafter JAA) was established in 1978 topromote research on auditing and to provide opportunities to link researchers in auditingat universities as well as researchers in other disciplines with practitioners in external
auditing, corporate statutory auditing, internal auditing and others. The total number ofmembers as of March 1, 2012 is 482, which includes 19 institutional members.
Among these members, 370 regular individual members and 12 honorary members havevoting right to elect the JAA president. From 2009 to 2012, the president of JAA was
Yoshimasa TOMOSUGI (Waseda University). In the 2012 Annual Convention, Toshifumi
TAKADA (Tohoku University) was elected the new president of JAA.
In Japan, management assessment and audit concerning internal control overfinancial reporting was introduced for the fiscal year beginning on or after April 1, 2008,
based on the Financial Instrument and Exchange Act. Internal control of listedcompanies was enhanced and reliability of disclosure was improved by theserequirements. Some members of JAA participate actively in this movement. However,in 2011 some major corporate scandals involving top management occurred in famous
Japanese listed companies such as the Olympus corporation and the Daio paper
corporation. Most researchers and practitioners in auditing have great concern how audit
functions or systems contribute to prevent or detect scandals involving top management.
Many presentations at JAA conventions will provide useful input to auditing standards
setting bodies such as the Business Accounting Council from various points of view.
Another area of concern is a system to audit financial statements made inaccordance with International Financial Reporting Standards (IFRS). In the financial
statements audit area, the Japanese Institute of Certified Public Accountants revised its
Auditing Standards Committee Statements along with International Standards on
Auditing. But Japanese listed companies need internal control systems which include
internal auditing systems to prepare reliable financial statements made in accordancewith IFRS. Also, auditing education should be revised to respond to these requirements.
If you are interested in our activities, please visit our website at
http://www.dobunkan.co.jp/audit.
The academic activities of JAA are as follows:(1) In accordance with custom, the Eastern region and Western region have held anannual convention by turns as shown below (4).
8

(2) Eastern and Western conventions have been held as follows:2008

Eastern Region

Western Region

Senshu University

St. Andrew’s University

Main theme: Risk assessment in Main theme: Issues and perspectives
auditingof internal auditing
2009Tokyo Fuji University

KPMG Azusa audit corporation

Main theme: Roles and issues of Main theme: Issues in audit practice
auditing in financial instruments &exchange act and company law
2010

Tohoku Gakuin University
Main theme: Accounting
auditing education

2011

PwC Aarata audit corporation

Kobe University

Main theme: Ethics for accountants

Main theme: Reconsideration
auditing under globalization

2012

Doshisha University
and Main theme: Fairness and adherence

Chiba University of Commerce
Main theme: Globalizationof

Seinan Gakuin Universityof Main theme: Extension of auditing byaccounting professionals

professional accountants in Japan

Programs of presentations at these conventions are compiled into a Report toMembers which is delivered to members along with the JAA journal titled Modern
Auditing.
(3) Activities of the Special Research Committees
JAA forms at least one committee per year to consider a specific issue related toauditing and assurances. The activities of the Special Research Committees in the last
five years are as follows.
1. Special Research Committee on Internal Control and Auditing in the Context ofInformation Technology Environment (2007-2008), a.k.a. Horie Committee
2. Special Research Committee on Narrative Reporting and Assurance (2008-2009),
a.k.a. Yamasaki Committee
3. Special Research Committee on the Structure of Social Acceptance of Certified
Public Accountants (2008-2009), a.k.a. Ohno Committee
4. Special Research Committees on Positive Audit Theory (2009-2010), a.k.a. Iyoda
Committee
95. Special Research Committee on Auditing Standards for Local Government(2010-2011), a.k.a. Ishihara Committee
6. Special Research Committee on Professional Ethics for Certified Public
Accountants (2010-2011), a.k.a. Fujinuma Committee
7. Special Research Committee on Accounting Profession (2011-2012), a.k.a. Yurino
Committee
8. Special Research Committee on Auditing and Assurance Practice (2012-2013),
a.k.a. Naito Committee(4) Brief Description of Annual Conventions since 2008
The 2008 Annual Convention was held on September 19th through 21st at
Ritsumeikan University, under the main theme International Standards of Audit Systems
and the Japanese Context. On September 20th, Shusai NAGAI (Resona Holdings) gave a
special lecture titled “Toward the Harmony of Organization and Functions of Corporate
Governance in Japan”. A symposium was held on September 20th and 21st chaired by
Masahiro YURINO (Doshisha University). The names and affiliation of presenters and thetitles of their papers were as follows:
1. Makoto SHINOHARA (CPA), “International Standards on Auditing as the International
Criterion”
2. Masahiro KATO (Ryukoku University), “Financial Statements Audit should Support
Corporate Governance”
3. Takashi KOJIMA (Chuo University), “Consideration of Quarterly Review”
4. Yutaka SUZUKI (Aoyama Gakuin University), “The Development and Issues of
Public Audit”
The 2009 Annual Convention was held on September 9th through 11th at Waseda
University, under the main theme Contemporary Role of Auditing – Focused on
Responses to Fraud. On September 10th, Yoshikazu WAKITA (Certified Public
Accountants and Auditing Oversight Board) gave a special lecture titled “Audit Quality
and Oversight”. A symposium was held on September 10th and 11th chaired by
Toshifumi TAKADA (Tohoku University). The names and affiliation of presenters and thetitles of their papers were as follows.
1. Hiroshi TAKI (Ritsumeikan University), “On the Effectiveness of Auditing System”
2. Kiyoshi AMAKASU (CFE), “Consideration of Fraud Risk Factors”
3. Takayuki MATSUI (Aoyama Gakuin University), “Internal Auditor’s Responsibility
to Fraud in Modern Internal Auditing”
10

4. Yuichi MOCHINAGA (CPA), Pressure to “Managements and Improper Accounting
Treatment”
The 2010 Annual Convention was held on October 29th through 31st at Konan
University, under the main theme Development and Issues of Auditing and Assurance
Practice in Disclosure. A symposium was held on October 30th and 31st chaired by
Yoshinao MATSUMOTO (Kansai University). The names and affiliation of presenters andthe titles of their papers were as follows:
1. Kazumi SUZUKI (Kobe University), “Influence of Changes of Characteristics ofReported Income on Auditing”
2. Masayuki HORIE (Nihon University), “The Right Direction of Extended IT
Assurance Service that are conducted by Public Accountants”
3. Hiroshi YOSHIMI (Hokkaido University), “Narrative Reporting and its Correlation to
Auditing and Assurance”
4. Motoko SHOJI (CPA), “Application Issues in Auditing upon Adoption of IFRS ─Management Approach of Japanese Companies”
The 2011 Annual Convention was held on September 11th through 13th at Meiji
University, under the main theme Fraudulent Financial Reporting and Improvement ofAudit Function. On September 12th, Shozo YAMAZAKI (CPA) gave a special lecture titled“Some Issues on Oversight of Audit Practice by the Japanese Institute of Certified
Public Accountants”. A symposium was held on September 12th and 13th chaired byKunio CHIYODA (Kumamoto Gakuen University). The names and affiliation of presenters
and the titles of their papers were as follows:
1. Yoshihiro INOUE (Kagawa University), “An Essay on Auditing Accounting
Estimates”
2. Hisae KITAYAMA (CPA), “Auditor’s Responses to Fraud in an Audit of Financial
Statements”
3. Yoshihiro MORITA (Komazawa University), “The Structure of an Audit System for
Irregularities in Japan”
4. Toshiharu MORIYA (Hosei University), “The Consideration of ‘The Usual Audit
Procedure’ in the Ruling”
The 2012 Annual Convention was held on September 5th through 7th at Kansai
University, under the main theme Effectiveness of Auditing as the Social System inJapan. A symposium was held on September 6th and 7th chaired by Shinji HATTA
11

(Aoyama Gakuin University). The names and affiliation of presenters and the titles of
their papers were as follows:
1. Fumio NAITO (Konan University), “Active Safety and Passive Safety in Financial
Statement Audit”
2. Toru KAJIKAWA (CPA), “The Judgment of Economical Rationality in Auditing”
3. Shinsuke TAKATANI (CPA), “Fraud in Financial Statement Audit and Ethical Attitude
of Auditors”
4. Masao YANAGA (University of Tsukuba), “Business Law as the Basis of Auditing
System”(5) Publications
1. Each year JAA publishes its research monograph. Titles of research monographs
since 2008 are as follows:
Research Series No.6 Corporate Governance and Auditing in Company Law,
Dobunkan Publishing Company, April, 2008
Research Series No.7 Risk, Control, and Audit of IT, Dobunkan Publishing
Company, September, 2009
Research Series No.8 Disclosure and Assurance of Narrative Information,
Dobunkan Publishing Company, October, 2010
Research Series No.9 Positive Auditing Theory, Dobunkan Publishing Company,
January, 2012
Research Series No.10 Professional Ethics for Accounting Profession, Dobunkan
Publishing Company, April, 2012
2. Modern Auditing (since No.18)
Modern Auditing is published annually by JAA to promote timely, widespreaddissemination of ideas to the academic and professional communities.
Modern Auditing No.18, published in March, 2008, contains 11 articles including
the following:
Yoshihiro MACHIDA (Aoyama Gakuin University), “Challenges for Accounting
Profession in the Integrated Global Market”
Akira HAMAMOTO (Nihon University), “A Problem of the Excess of Debt over
Assets about the Going Concern Assumption”
Modern Auditing No.19, published in March, 2009, contains nine articles
including the following:
Hiroshi TAKI (Ritsumeikan University), “External Quality Assessment of Internal
12

Audit Activity”
Seiichi ENOMOTO (CPA), “Practical Quality Assessment for Internal Audit”
Modern Auditing No.20, published in March, 2010, contains 13 articles including
the following.
Yukio ONO (CPA), “The Experience and Issues in the First Year of Internal
Control Audit”
Yasuhiro OKUNISHI (Senshu University), “An Analysis of the Content and Role of
Estimation Uncertainty in the ISA 540”
Modern Auditing No.21, published in March, 2011, contains 17 articles including
the following:Toshifumi TAKADA (Tohoku University), “Accounting and Auditing Educationfrom International Context”
Kenji SHIBA (Kansai University), “Increasing Demand and Supply for Audit
Service”
Modern Auditing No.22, published in March, 2012, contains 10 articles including
the following.
Hiroshi YOSHIMI (Hokkaido University), “The Directions and Possibilities for
Research on Accounting Ethics”
Sugako IJIMA (Kurume University), “The Study on ISA Trend and Its Influence on
Japan”(6) Winners of the Best Audit Research Award Set Up in Memory of the Late Professor
Iwao IWATA
2008 Kyoko MIYAMOTO (Sophia University), Audit Client and Stock Exchange/
Securities Dealers Association2009 No award
2010 Shinji HATTA (Aoyama Gakuin University), Accounting Profession and Auditing
2010 Yoshinao MATSUMOTO (Kansai University), The Possibility of Advice Function in
Audit
2011 Takashi NAGAMI (Keio University), ‘subject to~’ Audit Opinion
2011 Nobuo SHIMA (Kushiro Public University of Economics), Analysis of Auditor
Independence in Appearance from the View of the Concept of Justice in ModernTimes2012 Hideo TSUDA (Shitennoji University), History of Internal Auditing Systems inJapanese Corporations
2012 Yoshiaki KOMATSU (Daito Bunka University), Audit System Reforms in Germany
13

(7) Academic Activities of JAA Scheduled and Planned in 20132013 Annual Convention will be held at Tohoku University in September, 2013.
(Takayuki MATSUI, Aoyama Gakuin University)

14

THE JAPAN ASSOCIATION OF ECONOMIC GEOGRAPHERS
1. General Description of the Association
The Japan Association of Economic Geographers (JAEG: Keizai Chiri Gakkai)
was established in 1954 as the successor of the Economic Geography Forum (Keizai
Chiri Danwa Kai). Members of the JAEG come from a variety of backgrounds:
geographers carrying out sectoral and regional studies in Japan and abroad; economists
specializing in industrial location, regional economics, and regional policy theories;
policy makers and analysts in local governments and think tanks; and geographyteachers in secondary school.
The JAEG is a national academic association which represents diverse theoreticaland methodological approaches. The members of the JAEG conduct their research onindustries and regions from diverse perspectives and are advancing empirical andtheoretical research on themes such as industrial structural change, regional problems,
regional policies, environmental problems, and globalization.
The Association has currently 733 individual members and 4 patronage members(as of September 30, 2012). The current President of the Association is Prof. Kenji
YAMAMOTO (Kyushu University), following Prof. Mitsuo YAMAKAWA (Fukushima
University, 2006-2011).
JAEG’s research activities are decentralized, and the Association has five regional
branches; Kanto (Tokyo and its surrounding area), Kansai (Kyoto-Osaka-Kobe and theirsurrounding area), Chubu (Nagoya and its surrounding area), Seinan (Western Japan
including Hiroshima, Kitakyushu and Fukuoka) and Hokutou (Northeastern Japan
including Sendai and Sapporo). The executive board has 12 members; the chairperson
and vice-chairperson of 3 expert committees (general affairs, negotiation and publicity
committee, and editorial board), the 5 regional representatives and the general secretary,
who are elected from 40 members of Councilors. The latest general secretary is Prof.
Hironobu ODA (Seikei University), following Prof. Toshio OMATA (Toyo University,
2008-2009) and Prof. Kenji HASHIMOTO (Waseda University 2006-2007).
The main activities of the Association consist of holding national and local
meetings and publishing of Keizai Chirigaku Nenpo (AJAEG: Annual of the Japan
Association of Economic Geographers) and some independent books.
The JAEG holds three kinds of meeting activities: an annual conference, a regional
conference and regional division workshops.

15

2. Annual Conferences
The annual conference is not only the biggest event of the JAEG but also the mostimportant occasion for research presentations in economic geography in Japan, held on
a weekend in every May. At a university nominated to act as host, the conference
usually takes three days and consists of (a) a symposium, (b) round table discussions,(c) frontier sessions and (d) an excursion. Regional conferences are held later in the year
(see below).
The following brief description of the Annual Conferences after 2007 exhibits therecent trends of scholarly research interest among Japanese economic geographers.


The 54th Annual Conference (May 25-28, 2007 at Gifu University)- Chairman of Meeting: Shoji GODA (Gifu University)- Symposium: “Revival and Inequality in Regional Economies through the
Recovery of the Japanese Economy”- Round Table Discussions“Regional Policy in the 21st Century”“Regions and their Primary Industries facing Globalization”“The Foundation of Geographical Education: from the Viewpoint of World
Recognition and Town Creation”- Excursion: “The New Development of Advanced Manufacturing in theSouthern Area of Gifu Prefecture”

The 55th Annual Conference (May 23-26, 2008 at Waseda University, Waseda
Campus)- Chairman of Meeting: Kazuhiko UENO (Tokyo Gakugei University)- Symposium: “The Metropolis in the Global Age: Focusing on Tokyo”- Round Table Discussions:“Economic Geography for the 20th Century System of the Japanese Economy(3): Spatial Dynamics of the Manufacturing Industry”“Regions and their Primary Industries Facing Globalization (2)”“Industrial Clusters in the Global Age: Competition, Collaboration, andInnovation of the Semiconductor in East Asia”- Frontier Session- Excursion: “Spatial Changes in Central Tokyo”

The 56th Annual Conference (September 25-28, 2009 at Osaka City University)16

- Chairman of Meeting: Michio AKIYAMA (The University of Shiga Prefecture)- Symposium: “Japanese Regional Policy at the Crossroads”- Round Table Discussions“Reduction of Domestic Production and Employment in Japan According to theWorld Economic Crisis of 2008”“The Legal System and Town Management Organization in City Centers”“Restructuring in Japanese Regional Economy and Decentralization of theGovernance System: With Special Reference to Kansai”- Frontier Session:- Excursion: “Incubation in Osaka”The 57th Annual Conference (May 21-24, 2010 at Hiroshima University)- Chairman of Meeting: Hidenori OKAHASHI (Hiroshima University)- Symposium: “The Dynamism of Economic Development in Asia”- Round Table Discussions“Thinking about the Theme of Economic Geography at Present and in Future”“Japan-bound Food Exports from the Asia Pacific Region in the Context ofFood Regime Theory”“The Regional Economy with Broadband Networks”- Frontier Session:- Excursion: “Excellent Firms in Fukuyama and the Landscape of Tomonoura”

The 58th Annual Conference (May 20-23, 2011 at Kokushikan University)- Chairman of Meeting: Tatsuya CHIBA (Tsuru University)- Symposium: “New Development of Service and Culture Industries in the
Metropolitan Area”- Round Table Discussions“Prospects for National Land and Regional Policies in the Post 20th Century
Systems”“Restoration and Revival in the East Japan Great Earthquake Disaster and theEconomic Geographical Approach”- Frontier Session- Excursion: “Current Situation and Policy Issues of the Animation Industry inTokyo”

The 59th Annual Conference (May 19-21, 2012 at Hokkai Gakuen University)17

- Chairman of Meeting: Kazutaka TAKAHARA (Hokkai Gakuen University)- Symposium: “Issues and Methods of Regional Problem Studies and Regional
Developments”- Round Table Discussions:“New frontiers of regional development in Japan and Korea: The 4thJapan-Korea Symposium on Economic Geography”“Resource Problems in Contemporary Japan”- Frontier Session:- Excursion: “The World’s Largest Production of Thoroughbred Racehorses inthe Hidaka Area, Hokkaido”


The 60th Annual Conference (June 1-3, 2013 at The University of Tokyo,
Komaba Campus) (proposed)- Chairman of Meeting: Koji MATSUHASHI (Meiji University)- Symposium: “Nature of Economic Geography”- Round Table Discussions: (To be announced)- Excursion: “Changing Regional Characters in the Tokyo Joto Area”

3. Regional Conferences
The regional conference is held annually in each autumn. This conference is held
at a city outside of the Tokyo metropolitan area. This conference normally lasts for twodays: day 1 for presentations and discussion on a specific topic and day 2 for an
excursion. Compared with the annual conference this is smaller in size, but quite unique
because the topic dealt with is very specific to the place where the conference is being
held, inviting not only academic researchers but also local policy makers, businesspeople and NPO members.
Resent venues and themes of symposium are as follows: 2007 Tottori City (Tottori University)“Research and Education System about Regions”
 2008 Aomori City (City’s community facility)“Challenges of Aomori’s Policy for a Compact City”
 2009 Yokohama City (Yokohama City University)“The Global-local Nexus of regional R&D Clusters in Japan and Korea: The 2ndJapan-Korea Symposium on Economic Geography”
 2010 Matsumoto City (Shinshu University)
18

“Mountain Village Problems and Research Subjects in Economic Geography”
2011 Tokushima City (Tokushima University)“New Strategies and Challenges for Actors who drive Local Activation”

2012 Sasebo City (University of Nagasaki)“Examining the Great Merger of the Heisei Era”

4. Journal issued by the Association
The Association publishes an academic quarterly entitled the Annals of the Japan
Association of Economic Geographers (JAJEG). The Annals publishes typicallypeer-reviewed general articles (original articles, review articles and research notes),
forums, book reviews and proceedings of the local meetings. The first issue came out in
1955, a year after the establishment of the Association, and the latest volume, vol.58,
was published in 2012.
JAJEG consists of not only public-offered papers but also papers requested by theeditorial committee for the special issues such as symposium articles. No.4 of eachvolume is designated to publish articles presented at the annual conference symposium.
In addition, special issues are biyearly designed by the editorial committee or guest
editors. Below are issues specially covered by JAJEG after 2007, which will also
indicate some of Japanese economic geographers’ current research concerns:
 Conditions of Food Production by Agriculture and Fishery in Japan and aView of Policy for Regional Development (vol.53, no.1, 2007)
 Revival and Inequality in Regional Economies through the Recovery of theJapanese Economy (vol.53, no.4, 2007)
 The Changing Economic Geography of Japanese Cities (vol.53, no.5:
English-language edition) The Metropolis in the Global Age: Focusing on Tokyo (vol.54, no.4, 2008)
 Regional Policy and Transportation (vol.55, no.1, 2009)






Japanese Regional Policy at the Crossroads (vol.55, no.4, 2009)
The Dynamism of Economic Development in Asia (vol.56, no.4, 2010)
Water Resources Policy and Regional Society (vol.57, no.1, 2011)
Issues and Methods of Regional Problem Studies and Regional Developments(vol.58, no.4, 2012, forthcoming)
Economic Geography of Disparities (vol.59, no.1, 2013, forthcoming)

5. Other publications
A unique and meaningful publication of the Association is a series of books
19

entitled Economic Geography: Achievements and Future Tasks (Keizai Chirigaku no
Seika to Kadai) that aims to review research trends of the discipline by examining
works published by JAEG members for a fixed period. The first volume, which
reviewed and summarized the achievement for the ten years after the foundation of the
Association, was published in 1967, and then subsequent volumes were published in
1977, 1984, 1992, 1997 and 2003. The latest, seventh volume, was published in 2010
and covered research from 2002 to 2007. The structure of each volume has beenchanging considerably in order to fit the research trend of each period. The content of
the latest volume is structured into nine chapters: methodology, regional problems anddevelopment, primary industry, secondary industry, tertiary industry, population andinhabitation, overseas research, in-country regional economies and purpose-built
sections. Although every volume is written in Japanese, it could act as an all-in-one
guidebook to understand the achievements and tasks of economic research in Japan.
In 2012, the Hokutou division of JAEG edited a book entitled Regional Economies
in the North-eastern Part of Japan (Hokutou Nihon no Chiiki Keizai) incommemoration of the 10th anniversary of the division.
6. Promoting young scholars’ research
JAEG have two programs in order to promote a new generation of researchers
within the discipline. First is the JAEG research award, which was established in 2002
and was modified in 2010. Before the modification, the award was for articles andbooks that were published within the past two years by authors under the age of 40
years old. After the modification, the award was separated to the best publication award
for authors under 45 years old and the best article award for authors under 33 years old.
The prize-winning works after 2007 are as follows: 2007 award:
ODA, Hironobu (2005) Spatial Dynamics of the Japanese Machinery Industry in
the Late 20th Century, Tokyo: Kokon-Shoin publishing.
 2009 award:
NAKAZAWA, Takashi (2008): Spatial Trajectory of Vocational Careers, Tokyo:
University Education Press.
 2011 award (book publication) :YUZAWA, Noriko (2009): The Regional History of Local Industry and Families,
Tokyo: Kokon-Shoin publishing.
 2012 award (article) :YOKURA, Yutaka (2011): “Development of Relationships among Actors at Local
20

Trade Fairs: A Case Study on Suwa Area Industrial Messe”, JAJEG, vol.57, no.3.
Second, the “frontier” session was introduced at the annual conference in 2004.
The “frontier” session is specially designed for paper presentation by distinguished
young researchers who have just completed their Ph.D. dissertation. So far the session
has been successfully organized and two to four papers have been presented in eachyear.
7. The Japan-Korea Joint Conference
Finally, it is interesting to note that Japan-Korea Symposiums on Economic
Geography have taken place in this period. JAEG and EGSK (Economic GeographicalSociety of Korea) have alternately hosted joint conferences sharing mutual concerns on
economic geography as follows: The 1st Conference (May, 17, 2008 at Cheongju University, Cheongju City,
Chungcheongbuk-do)“Economic Geography in the Knowledge Information Society”
 The 2nd Conference (November 29, 2009 at Yokohama City University,
Yokohama City)“The Global-local Nexus of Regional R&D Clusters in Japan and Korea”
The 3rd Conference (November 7, 2010 at Sondo Covensia, Inchon City)“Job Creation and Urban Competitiveness”
This conference took place as a session of “Asia Economic Forum 2010”.
The 4th Conference (May 20, 2012 at Hokkai Gakuen University)“New Frontiers of Regional Development in Japan and Korea”(Hironobu ODA, Seikei University)

21

JAPAN ECONOMIC POLICY ASSOCIATION
History of the Japan Economic Policy Association (JEPA)The Japan Economic Policy Association (JEPA) was established on May 17, 1940
in Tokyo, by professors and researchers interested in the scientific study of economic
policy. Since then, it has given birth to a number of other academic organizations related
to the discipline of economics and to the application of theories to economic policy
formation.
At present, there are more than twenty academic associations related to economic
policy research, most of which were established after World War Ⅱ. Thus, the Japan
Economic Policy Association is one of the few academic Associations for economic
policy established before the War in Japan. The Association will celebrate the 70th
anniversary in 2013.
Recently, a large number of researchers in public and private research institutelaboratories and students at post-graduate schools have become members of the
Association. Consequently, the membership has grown remarkably and currently
amounts to approximately 1,300.
Mission
Under the economic conditions such as depression in the Japanese Economy sincethe 1990s and globalization of the World Economy, Japan has been suffering from theeconomic crisis that began in 2008, and the Great East Japan Earthquake in March 2011.
The Association is coping with a difficult task to provide effective new approaches toanalyze various impacts of economic policy on the economy and on society as a whole.
The Association has two missions: (1) the study of economic policies and (2)mutual cooperation with domestic and overseas academic societies. The Associationstrongly supports young researchers, seeks to reveal and explain academic achievements
to the public as far as possible, and welcomes all presentations and articles, from any
field of science, that are related to economic policy.
Organization
The Association is composed of two levels of organization: national and regional.
There are four regional chapters which cover four areas: Kanto, Chubu, Kansai, andNishinihon. The Association is administered by the board of 25 managing directors
elected every three years. In 2010, board members were newly elected. Yuko ARAYAMA(Nagoya University) was elected as the President of the Association, and Hirokuni
22IMAIZUMI, Tatsuya OHMURA, Kunio SAKAI and Yasuhide TANAKA were elected as theVice-Presidents.
Other than regional organizations, there are seven working committees, which areresponsible for deciding directions of activities such as publication, international
exchange, and the Association Prize.
General Activities
In order to realize the above mentioned mission, the major activities of the
Association are to hold two annual meetings, the Annual Conference on the national
level and the International Conference, and regionally organized meetings. The
Association publishes two journals: (1) The Journal of Economic Policy Studies (JEPS),
since the year 2003, which follows upon fifty volumes of the annual report issued until
2002; (2) The International Journal of Economic Policy Studies (IJEPS), since the year
2006, comprising papers written in English.
The following are also important activities of the Association: (1) Web system formembership started in 2011, which is available for research activities on the web site,
such as contribution of papers, comment or discussion, and information exchange
among members. (2) The Prize of the Association was created at the 2004 annual
conference, and this activity started at the 2005 annual conference. (3) Starting in theyear 2001, a home page for JEPA has been launched giving information about its
activities and papers.
Past academic activities and major themes
Since its foundation, the Association has followed important policy issues andpublished the results of special group studies, separately from annual reports. The
following books were published by the results of the special group studies and thesereports show the historical characteristics of policy issues in each period.
1) Study results published in commemoration of the 15th anniversary of the existenceof the JEPA are the following four books: Post-War industrial Policy in Japan(1957), edited by Taikichi ITO, Analysis of Post-War Japanese Economic policy(1958), edited by Tokutaro YAMANAKA and Moriyoshi CHO, Development of Japanese
Economic Policy (1958), edited by Kiyozo MIYATA and Keizo FUJITA, and A
Chronological Table of Japanese Post-War Economic Policy (1962, enlarged ed.
1969), edited by Hiroshi MATSUO and Kikuo YAMAOKA.
2) Study results published in commemoration of the 30th anniversary of founding the23

JEPA is the following book: Studies in Contemporary Economic Policy (1978),edited by Hiroshi KATO, Takashi FUJII, Kojiro NIINO and Masanori ITO.
3) Study results published in commemoration of the 40th anniversary of founding the
JEPA are the following two books: The Making of the Science of Economic Policy(1988) and The Development of the Science of Economic Policy (1988), edited by
the JEPA.
4) Study results published in commemoration of the 50th anniversary of founding the
JEPA is the following book: Prospects of Japan’s Socio-Economic System: Their
Trends toward the 21st Century (1995), edited by the JEPA.
Recent Annual Conferences
The Association holds annual conferences. In each conference, a common theme ischosen by the program steering committee. This theme is elaborated by the regional
chapter responsible for sponsoring the conference in that year. In addition, subsidiary
themes are selected along with the main one for the purpose of promoting anddeepening the discussion on the main theme.
The several topics which are picked up from recent annual conferences show
recent trends of research topics related to economic policy.
- How to deal with the new type of political economy which is characterized byinteraction between industrial trends and institutional reform such as
deregulation- To what extent analytical concepts such as game theory are effective- How to explore the public choices under the new political behaviors ofindividuals- What policy the government should take under the pressure of financial crisis,
global economic depression, and The Great East Japan Earthquake.
In 2006, the 63rd annual conference of the Association was held at Kyushu Kyoritsu
University on May 27-28. The common theme of the conference was Economic Policy
toward Efficiency and a Sense of Security: 60 Years of Japan’s Postwar Developments
in Retrospect and the Foresight. The following three papers were submitted as the
keynote lectures on the common theme and a panel discussion followed by keynote
speakers and three discussants.
(1) Toshiaki TACHIBANAKI (Kyoto University), “Efficiency, Welfare and Equity: 60
Years of Japan’s Postwar Developments in Retrospect and the Foresight”(2) Hiroshi OHBUCHI (Chuo University), “Economic Policy Toward Efficiency andSecurity: Facing a Declining Polulation ”
24

(3) Kohei KOMAMURA (Toyo University), “Social Policy in the 21st Century: The
Need for Change”
Also this annual conference had 18 sessions as well as the main session.
In 2007, the 64th annual conference of the Association was held at Keio University
on May 26-27. The common theme of the conference was Japan in the Global
Economy: What Lies Ahead of the Japanese Structural Reform? The following threepapers were submitted as the keynote lectures on the common theme and a panel
discussion followed by the keynote speakers and three discussants.
(1) Jitsuro TERASHIMA (Japan Research Institute), “Japan and the World Systemin the 21st century: Perspectives on post 9.11”(2) Kazuhito IKEO (Keio University), “An Enlightened Advocacy of Market
Economy”(3) Akira YOKOYAMA (Chuo University), “Philosophy of Fiscal Management of
the Government of Japan: Economic Growth and Vitality vs. Restoring
Fiscal Soundness”
This annual conference had the Presidential Address by Reishi MARUYA, the title ofwhich was “Recent Changes in Foundations of Economy and their Implications to
Economic Policy Studies”. Also this annual conference had 14 sessions as well as themain session.
In 2008, the 65th annual conference of the Association was held at Kansai
University on May 24-25. The common theme of the conference was Policy Creation
for the Sustainable Economic Development. The following three papers were submitted
as the keynote lectures on the common theme and a panel discussion followed by the
keynote speakers and three discussants.
(1) Guoxing TANG (The International University of Kagoshima and Fudan
University), “Development and Policy Issues on China’s Economic
Privatization”(2) Takashi YANAGAWA (Kobe University), “Improvement of the Competitive
Conditions for Sustainable Economic Development”(3) Satoru MATSUBARA (Toyo University), “The Continuance of Reform of
Postal Services”
Also this annual conference had 21 sessions as well as the main session.
In 2009, the 66th annual conference of the Association was held at Tohoku Gakuin
University on May 30-31. The common theme of the conference was Strategic Thinking
in Economic Policy.
The following three papers were submitted as the keynote lectures on the title of25

“Overview of the Japanese Economy and Strategic Economic Policy” and a panel
discussion followed by the keynote speakers.
(1) Taro OZAWA (Keio University), “The Strategy of Economic Policy: Why
Now?”(2) Naohiko JINNO (Kwansei Gakuin University), “Towards a Strategy for
Overcoming the Present Crisis”(3) Kohei KOMAMURA (Keio University), “Strategical Plans for Social Policies”
This annual conference had another special session, the title of which was“Revitalization Strategies for Regional Economics: Issues in the Tohoku District”, andtwo papers were submitted and a panel discussion followed by four panelists.
(1) Katsuji ISHIRO (Fukuoka University), “Automobile Industry and Local
Suppliers in Kyushu”(2) Fujio IWAKI (Hiroshima Industrlal Promotion Organization), “Modulizationand Electronics Technologies in the Automotive Industry: Current Situationof the Automotive Cluster in the Chugoku Region”
Also this annual conference had 15 sessions as well as the main session.
In 2010, the 67th annual conference of the Association was held at Kyoto Sangyo
University on May 29-30. The common theme of the conference was Thinking about
International Cooperation under Globalization. The following three papers were
submitted as the keynote lectures on the common theme and a panel discussion
followed by the keynote speakers and three discussants.
(1) Hiromasa KUBO (Kobe University), “Economic Crisis and Economic Policyin the EU”(2) Seung-Joon PARK (Kyoto Sangyo University), “An Essay on International
Climate Cooperation”(3) Yuko ARAYAMA (Nagoya University), “Economic Policies from theInternationally Cooperative Perspective: Could ‘Economic Theories’ Ever
Deal with a Globalized World Maker?”This annual conference had the Presidential Address by Yasumi MATSUMOTO, the title ofwhich was “Searching for the causes of the Heisei Depression”. Also this annual
conference had 18 sessions as well as the main session.
In 2011, the 68th annual conference of the Association was held at Komazawa
University on May 28-29. The common theme of the conference was How do We Use
Economics for Economic Policy? The following three papers were submitted as the
keynote lectures on the common theme and a panel discussion followed by the keynote
speakers and two chairpersons.
26

(1) Kohei

KOMAMURA(Keio

University),

“The

New

SocialPolicy:Collaboration between Social Securities and Labor Policies”(2) Munenori NOMURA (Kwansei Gakuin University), “Public Utilities Reforms
and the Change of Regulated Industries: Evaluation for Privatization and
Deregulation Policies”(3) Ryokichi CHIDA (Meiji University), “Is Fiscal Policy Effective as
Stabilization Policy?”
Also this annual conference had two special sessions as well as 18 sessions. The title ofthe first special session was “The Great East Japan Earthquake” by three invitedlecturers, Munenori NOMURA (Kwansei Gakuin University), Satoru MATSUBARA (ToyoUniversity), and Jun’ya YAMAGUCHI (Nagasaki University). The title of the second
special session was “The Disaster and Economic Policy” by four invited lecturers，Ken
SAITO (the House of Representatives, LDP), Hiroshi YOSHIKAWA (The University ofTokyo), Kohei OTSUKA (the House of Councilors, DPJ), and Kozo YAMAMOTO (the Houseof Representatives, LDP).
International Conference
The International Conference debuted in 2002 with a determination to promote the
Association’s activities in an international dimension. This academic activity has been
held every year, and the 11th Conference is planned on October 20-21, 2012.
The conference is open to both members and nonmembers of any nationality.
JEPA is especially keen to encourage young economists to participate. The several
categories are picked up as subjects for ordinary sessions from recent trends of research
topics, related to policies towards global economy such as the following.
- Theory of Economic Policy- Public Finance and Fiscal Policy- Monetary and Financial Policy- Growth, Development and Population Policy- Industrial Organization and Structural Policy- Labor Economics and Policy- Public Economics and Public Choice- Welfare and Social Security Policy- Regional, Urban and Transportation Policy- Resource and Environmental Policy- Law and Economics- Comparative System Analysis
27

The language used at the conference is English. JEPA is delighted to have been
supported by many overseas participants from more than 40 countries and regions, andto have enjoyed lectures the following guest speakers.
The 5th International Conference of the Association was held on December 2-3,
2006 at Aoyama Gakuin University, Tokyo. The main theme of the Conference was
Asian Economic Initiative: How Do We Integrate Our Economies? This Conference had
two plenary sessions under the main theme and one special session whose title was“Role of Korea and Japan in Overcoming East Asian Regional Challenges” as well as
18 sessions. In the first plenary session, two papers by Atchana WAIQUAMDEE （Bank ofThailand） and Junggun OH （Bank of Korea） were addressed. The second plenary
session had also two papers by Dmitri EVSTAFIEV （Saint Petersburg State University）
and Fukunari KIMURA （Keio University）.
The 6th International Conference of the Association was held at Hosei University,
Tokyo on December 8-9, 2007. The main theme of this Conference was Economic
Growth and Differentials: How Can we Harmonize Growth and Equality? This
Conference had two plenary sessions whose titles were “Economic Differentials fromthe Viewpoints of Public Choice” and “Interdisciplinary Approach toward Inequality:
How to Overcome the Limit of the Modern Economics?” as well as the 24 sessions
including four special sessions. In the first plenary session, three papers by RogerCONGLETON (University of Southern Denmark and George Mason University), Yong
YOON (George Mason University), and Victor VANBERG (Albert-Ludwigs Universität)
were addressed. The second plenary session had also three papers by Prasanta PATTANAIK(University of California), Alan KIRMAN (University of Aix-Marseille), and Hideaki
KOIZUMI (Hitachi, Ltd.). This Conference had another special Lecture by Victor VANBERG（Albert-Ludwigs Universität）, whose title was “Liberty and Disparity”.
The 7th International Conference of the Association was held at Doshisha
University, Kyoto, on December 6-7, 2008. The main theme of this Conference was
Globalization, Liberalization, Informatization and Human Behavior. This Conference
had two plenary sessions whose titles were “Economic Policies for the New World
Economy” and “Welfare of Human Beings in the Age of Globalization” as well as 20
sessions. In the first plenary session, two papers by James LINCOLN (University ofCalifornia Berkeley) and Santos Chandra PANDA (Delhi School of Economics) wereaddressed. The second plenary session had also two papers by Bhaskar DUTTA (The
University of Warwick) and Masahiro KIHARA (Kyoto University).
The 8th International Conference of the Association was held at the Center for
National University Finance and Management (CUFM), Tokyo on November 28-29,
28

2009. The main theme of this Conference was “Financial Crisis and Economic
Depression Tasks of Economic Policies in Simultaneous Slowdown of the World
Economy Globalization, Liberalization, Informatization and Human Behavior”. This
Conference had two plenary sessions under the main theme as well as 14 sessions
including four special sessions with three guest speakers. In the first plenary session,
three papers by Heru SUBIYANTORO (Ministry of Finance, Indonesia), Hidehiko SOGANO(Bank of Japan), and Willem THORVECKE (George Mason University) were addressed.
The second plenary session had two papers by Inchul KIM (Sungkyunkwan University)
and Juro TERANISHI (Nihon University).
The 9th International Conference of the Association was held at Waseda University,
Tokyo on November 27-28, 2010. The main theme of this Conference was Expanding
Interdisciplinary Frontiers of Economics and Business: Business Management in
Globalizing World and Economic Policy Coordination. This Conference had one
plenary session whose title was “Considering the Future Economy with a ScientificMind” and three special sessions as well as 26 sessions. In the plenary session, threepapers by Peter DEMENOCAL (Columbia University), Kinji MORI (Tokyo Institute ofTechnology), and Demetri KANTARELIS (Assumption College) were addressed.
The 10th International Conference of the Association was held at Kwansei Gakuin
University, Hyogo Prefecture on November 19-20, 2011. The main theme of thisConference was “Growth and Innovation: Industrial Structure and Institution in
Economic Development”. This Conference had two plenary sessions as well as 19
sessions. In the first plenary session, two papers by Dennis MUELLER (University of
Vienna) and Hiroyuki ODAGIRI (Seijo University) were addressed under the main theme.
The second plenary session, whose title was “Economic Policies for the New World
Economy” had three papers by Munenori NOMURA (Kwansei Gakuin University),
Hironao MATSUBARA (Institute for Sustainable Energy Policies), and Patrick COLLINS(Azabu University).
Journal of Economic Policy Studies
Although the Japan Economic Policy Association had published fifty volumes of
the Journal of the Association, the Annual of the Japan Economic Policy Association
containing annual reports once a year until 2002, it was followed upon by the new
official refereed journal of the Association, the Journal of Economic Policy Studies(JEPS), from the year 2003.
The reason why the Association changed the Annual to the Journal is that the
Association has adopted as one of its objectives cooperation with equivalent foreign
29

Associations in response to increasing globalization and is broadening international
liaisons in various forms. The main purpose of the Journal is, therefore, to develop a
close relationship between JEPA and foreign Associations and to encourage theeconomic policy studies of the members by publishing papers on economic policy.
The scope of the Journal includes all fields of economic policy, and it is issued
biannually, one issue comprising papers presented at the annual conference of eachyear.
International Journal of Economic Policy Studies
The Association has also published the International Journal of Economic Policy
Studies (IJEPS) since the year 2006, comprising papers written in English, which isissued in an electronic version annually. Its purpose is broadly defined, withcomprehensive coverage of both theoretical and empirical studies within the field of
economic policy.
The Japan Economic Policy Association initiated the first international conferencein 2002 as a part of its academic activities. Since then, the Association has provided auseful network and public space for research on economic policy in the world.
Papers published in each volume through a refereed process are exclusively
selected from the papers submitted and presented at the Japan Economic Policy
Association International Conference. Especially, we are encouraging papers which arerich in policy implications based not only on reliable economic models but also on
robust econometric analyses.
The Association Prize
The 2004 annual conference of the Japan Economic Policy Association approved
creating the Prize of the Association and to award it to the members who have presented
the most outstanding papers at the annual conference. The prize is composed of the
Academic

Prize(gakujutsu-sho)

and

the

Prize

for

Encouraging

Research(kenkyu-shorei-sho).
The Academic Prize was awarded to Hideo NODA (Yamagata University) in theyear 2010. The title of the prize winning paper was “Why Employment Promotion
Policies for Older Workers Matter”.
The “Prize for Encouraging Research” for the year of 2007, was awarded to
Yasuhiro DOI (Nagoya University) for a paper entitled “Effects of an Economic
Integration to the Labor Productivity: Panel Data Analysis of European Countries byIndustry”, and Kana MOROGA (Kyushu University) for a paper entitled “Environmental
30

Policy under Technology Spillovers: Cooperative versus Non-Cooperative Solutions
between Countries”.
The prize for the year 2008, was awarded to Yohei KOBAYASHI (Mitsubishi UFJ
Research & Consulting Co., Ltd.), for a paper entitled “Regional Environment andSocial Capital Formation: An Empirical Analysis Using Micro Data”.
The Prize for the year 2010 was awarded to Mizuki NAKAMA (Yamaguchi
University). The title of the paper was “Altruistic Bequest Motive, Consumption Tax,
Bequest Tax and Pay-As-You-Go Social Security Policy”.
The “Prize for The Prize for the year 2011 was awarded to Tadahisa OHNO (Kyushu
University). The title of the paper was “Regional Differences in Local Tax Revenues
and the Soft Budget Constraint”.
International and Domestic Cooperation
In order to promote an international as well as domestic linkage with otheracademic Associations, the Japan Economic Policy Association is encouraging mutual
cooperation with the 21st Economic Forum (Japan), Business & Economics SocietyInternational (USA) and AUCO Czech Economic Review (Czech Republic) among
others. JEPA always welcomes cooperation with other academic societies.
(Mazuru NAKAMURA, Aoyama Gakuin University)

31

THE SOCIETY FOR INDUSTRIAL STUDIES, JAPAN1. General Description of the Society
The Society for Industrial Studies (SIS) was founded as the Research Group for
Industrial Studies in 1972, then changed to the current name in 1975. As the SIS annual
meeting was held twice a year in the early period, the SIS celebrated the 50th annual
meeting in 2012.
The objective of the SIS has been to conduct research and analysis on problems
related to industries, which covers specific industry studies such as steel, chemical,
electronics, and automobiles as well as those on inter-industry comparison andindustrial policies. The SIS consists of members from various backgrounds, includingcollege professors who teach and conduct research at social science departments,
engineers and business people from the private sector who make daily strategic
decisions, and central/local government employees who actually conduct industrial
policies. The SIS also accepts graduates as student members.
The number of members has been stable at slightly above 320. The annual meetinghas been held for two days in every June, which attracts about 100 participants. The first
day has sessions for open topics in which the members apply for presentations. The
second day has a session with a specific theme which is chosen by the executive
committee of the meeting. The committee invites speakers and corresponding
commentators, both of whom participate in a panel discussion at the end of the session.
The invited speakers include members as well as non-members. The committee often
tries to have a discussion between academic researchers and business people, and thelatter are often non-members. As a result, the ratio of business people among thesecond-day session’s speakers/commentators is greater than the ratio in the members.
While the content of the first-day session also reflects research interest of the members,
this report mainly focuses on the themes of the second-day session.
The SIS has three regional meetings (East, Central, and West regions), each ofwhich is held every autumn. Moreover, the SIS started divisions of Automobile Industry
Research and Innovation Research in 2001. The SIS publishes 450 copies of Sangyo
Gakkai Kenkyu Nenpo (Annals of the Society for Industrial Studies, Japan) as theofficial journal every March (at the end of the fiscal year).
Consisting of members with various backgrounds is the strength of the SIS;
however, their research approach is also varied. Even among economists, some use
qualitative analysis, and others uses theoretical analysis. Researchers withbusiness/management background often conduct research on business strategy or32organization of leading companies in each industry. As a result, it is sometimes difficult
for the members to discuss the industry on the same level field. However, the SIS
proudly maintains the diversity of its members.
The SIS has issued its annual journal since 1986, containing papers written in
Japanese and with an English summary. In 2008, the annual journal that the SIS had
issued was nominated as an archived journal by the Electronic Archived Journal
Selection Committee of the Kagaku-Gijutsu Shinkou Kikou (Japan Science &Technology: JST). Then, every article of every volume from the first issue in 1986 tothe current one of the SIS came to be archived (after transfer on to a PDF file), andevery article could be disclosed on the internet website of the JST. The articles in theannual journal before volume 23 can be checked at the address Journal@archive on the
JST homepage, and those since volume 24 at the address J-STAGE on the JST
homepage.
2. Annual meetings
The 45th annual meeting was held at Ochanomizu University on June 9 and 10,
2007 with the theme of Resilience and Governance of Japanese Industry. The session
consisted of “Evolving Corporate Governance: How Should we understand it?” byHideaki MIYAJIMA (Waseda University), “Globalization of Corporate Activities andIssues of Human Resources Management: From the Viewpoint of ‘Multinational
Internal Labor Market’” by Mitsuhide SHIRAKI (Waseda University), “Policies to Restore
the International Competitiveness of the Japanese Electronic Products Industry” by
Makoto SHIMIZU (Development Bank of Japan), and “Patent Map Analysis of theAdvanced R&D Cooperation between Automakers and Electronic and Electricalcomponents’ Suppliers in the Japanese Automobile Industry” by Yoshinori KONNOU(Hosei University).
The 46th annual meeting was held at Ritsumeikan University on June 14 and 15,
2008 with the theme of Sustainable Growth and Industrial Reorganization in Japan. The
session consisted of “Role of Finance in the Growth and Reorganization of Industry:
about the ‘Industrial Finance’” by Hideya NAGAI (Toyo Gakuen University, Resona
Holdings, Inc.), “Reorganization of Industry: Special Attentions on the Speed and theConception of New Values” by Yoshinori ANDO (E Solutions, Ritsumeikan University),and “Japanese Management Model and their Growth Strategy” by Jun’ichi HANDA(Management Wisdom Partners Japan).
The 47th annual meeting was held at Meiji University on June 13 and 14, 2009
with the theme of Financial Crisis and Direction of Japanese Industry. The session
33

consisted of “Financial Crisis and the Management Strategy of Automobile Makers” by
Fumiko KUROKAWA (Dokkyo University), “Japan Re-break by Environment/New
Energy: The Market Size of Environmental/Energy Industry that President Obamaassumes is Huge” by Wataru IZUMIYA (Sangyo Times), and “The Direction of theJapanese Steel Industry after Financial Crisis” by Hirokimi O KAMOTO (Doshisha
University).
The 48th annual meeting was held at Kochi University on June 19 and 20, 2010
with the theme of Continuous Growing Chinese Economy. The session consisted of“China’s Local Heavy Industries Before and After the Reform and Opening Up Era” byToshio TAJIMA (University of Tokyo), “The Development and the Future Direction ofChinese Domestic Automobile Companies” by Kunio KAMIYAMA (Josai University), and“The Recent Trend of Chinese Electronics Industry: Structural Problems andTechnology Innovation” by Sumio KUNIYOSHI (Faculty of Business, Marketing andDistribution, Nakamura Gakuen University).
The 49th annual meeting was held at Rissho University on June 11 and 12, 2011
with the theme of Total Examination of “Competitive Advantage and Disadvantage” ofJapanese Manufacturing Industries. The session consisted of “A New Direction of theReconstruction of Competitive Advantages for the Japanese Automobile Industry” by
Kunio KAMIYAMA (Josai University), “The Competitiveness of Japanese Manufacturing
Firms and Their Product Strategy in Emerging Markets” by Hiroshi ITAGAKI (Musashi
University), and “Global Competitiveness of Japanese Industry and Companies:
Reconsideration of Technological Innovation and Creation of Value Added” by
Yoshihiko AKASHI (Osaka City University).
The 50th annual meeting was held at Kwansei Gakuin University on June 9 and 10,2012 with the theme of The Great East Japan Earthquake and Industrial Renaissance.
The session consisted of “Industrial Renaissance from Higashi-Nihon Great Earthquake:
Tasks of JIT Delivery and Suppliers Management in the Automobile Industry” by Sasuo
SAEKI (Nagoya Gakuin University), “Influences on Industries in the Great East Japan
Earthquake Disaster Zone and the Possibility of Renaissance: Case of Kesennuma City”
by Jun’ichi NAGANUMA (Kwansei Gakuin University), “Lessons from the Situation of‘Failed to Connect’: Damage to Information-Communication Systems Done by The
Great East Japan Earthquake” by Nozomu KAWABATA (Tohoku University), and“Development of Industrial Renaissance from the Catastrophe of The Great East Japan
Earthquake: the Case of Reviving SMEs and Provisional Shopping Streets” by Keiko
MATSUNAGA (Osaka City University) .
The 51st annual meeting will be held at Nihon University on June 9 and 10, 201334

3. The Trends of Research
The trend of research at the SIS in this period is an increase of interest in theautomobile industry as well as fast growing Asian industries or companies.
(1) In order to study the activity of each industry, major/main companies, and someregional industrial agglomeration in the emerging countries, it needs local partners or
locality-based researchers or graduate students to study the regional industrial condition
or companies’ activities. There are additional problems, for example, problems oflanguage, problems of securing transportation means, and problems of appointments orcontracts to meet good persons to achieve the adequate understanding and deep study ofthem. In this context, the research style may change slightly.
The Automobile Research Branch Meeting began to hold research exchange
meetings in collaboration with the China Automobile Industry Study Group in June
2007.The branch published one book as its research result in 2009. The title of the bookwas Chouseiki Totsunyu! Kyodaika suru Chugoku Jidosha Sangyo (Entering the
Adjustment Age! Chinas Booming Automobile Industry) edited by Kunio KAMIYAMA,
Nikkan Jidosha Shinbunsha, Tokyo, Japan.
(2) Many East-Asian companies, that is, Taiwanese, Korean, and Chinese companies
have made great advances from the turn of the century to the late 2000s. Especially,
Chinese economy and business have made great advances. Some Japanese industries(the food and beverage, apparel, machinery industry, and so on) have developed theirbusiness globally, though it was said that they wouldn’t go abroad, or they didn’t have acompetitive advantage. Many Japanese manufacturing companies have been losing theirmarket shares in the global context. As the production activities of East-Asiancompanies are very aggressive and dynamic, their global market shares may haveincreased dramatically, and the configuration of global market positions has changed
very much in this period. Even the Japanese automobile industry, which keeps its
competitive advantage, has gradually increased the weight of overseas production. Then,the interest and object of academic research need to expand to the global context tostudy the activity of Japanese companies that have changed business policy to develop
in the global market. In the same way, researchers need to consider the global market
positioning in some industries that they select. Because the nominal size of the domestic
market is very huge in China relating to the size of the global market, the statisticalfigures about world market shares may sometimes bring some misunderstanding or
analytical confusion. For example, in the term of sales revenue and/or volume of35

production, some Chinese companies have got higher market shares in many products.
However, we must consider the ratio of sales in the China domestic market to the global
total sales of each Chinese company. In fact, the figures of global market shares ofChinese companies do not necessarily mean the degree of global competitiveness if the
figures don’t include the figures of exports and/or overseas sales.
(3) There are some industry-related big issues like the reorganization or the evolutionalchange of existing industry, or merged companies, globalization, and environment
problems in Japan. A new angle is required to grasp the characteristics of new industrial
trends, new methodologies or new academic insights.
Economics explains the macroeconomic growth rate, and the great changes inindustrial structure from manufacturing to service sectors. The Japanese manufacturingsectors are shrinking. Business strategy and business management theory explains thechanging business models and value chains of Japanese companies.
We found great changes in the following Japanese industries: material supply
industry (chemical, iron and steel, and the other metals), electronic machinery industry(assemble field), electronic parts and device industry, and so on. The number ofcompanies in many industries has decreased in the recent 15 years in Japan. The
Japanese automobile industry keeps its competitive advantage. As the companies thatused to use small and medium enterprises happen to go abroad, small and medium
enterprises are forced to make a tough decision to go abroad along with the existing
business partners or not go abroad and stay in the shrinking domestic market. However,most of them don’t disclose the business operating reports. Then, we can’t know what isgoing on with them.
(4) In contrast, there are growing sectors like the telecommunication industry and IT
industry. Also, we can find that there are so many new goods and services in thetelecommunication and IT industries. For example, we can pick out the iPhone, iPad,
Google service, Facebook, and cloud computing services, etc. We can find the ongoing
trend that consumers have changed their devices from popular mobile phones toso-called smart phones. The characteristics of the changing IT industry cover the
hardware, software, and systems of products and/or services. Then, researchers must
make a great effort to catch the trend and keep their minds flexible. Most people feelthere is discrete change in industrial products, services, and related technology. Even the
shape and function of personal computers have evolved in these ten years. Personal
computers may compete with emerging new devices like the iPad.
36

However, needless to say, the explanation or introduction of “new facts” is notenough to study new industrial phenomena. We need to study the “new facts” with sometheoretical background and/or academic knowledge-based viewpoints and show theinterpretation of the meaning, nature, impacts and direction of these “new facts” as awhole. Through these processes, we could create some chains of related knowledge
about them. We feel that new industrial fields are emerging, and we need some newindustrial classification method or thought to understand them. We have found new
multi-functional products and/or services and brand new categorized products and/or
services.
(5) Though the idea is the same in every period, innovation matters in this period. Whatconditions foster innovation? What definition is better to understand innovation? Howto manage ongoing business and innovation-based new business? We are facing longwaves and also short but frequent change. To understand the industrial trend in thehistorical and practical perspective, we must discern the nature of innovation. We know
“the innovation dilemma” that was named by Clayton Christensen. There are studies
about innovation style like open innovation and incremental innovation, and theinnovation policy of the national government and the university-industry alliance.
(6) In these periods, the topics selected most frequently by the SIS members aspresentation objects at the open sessions of the SIS annual meeting are automobile
industry-related matters, including their global activities and/or development of theautomobile companies. The other themes that have been tackled by the SIS members are
the electronics industry (including parts and devices industries), materials industry(including iron and steel), resources industry, daily commodities, etc. In short, most of
the SIS members have chosen issues about manufacturing industry.
The basic analytical styles of most studies have been traditional empirical studies
about the industry. They mention the outlines of the industry, the history of the industry,
the size distribution of the companies in the industry, and factors that determined thedifference between the most dominant companies and the following companies. The
main pattern of the empirical study is evidence-based, new types of fact-finding, andclassification and/or arrangement of the various information and knowledge about thetheme. Or the study is sometimes inclined to be a classification and reorganization ofrelated knowledge and theoretical interpretations.
There are a lot of evidence-based case studies. However, there are few cases on
the hypothesis-testing research style. There are very few studies that tackle the37validation of the theoretical framework.
(7) Additionally, there is The Industry Study Association (ISA) in the USA, whose
mission is similar to that of the SIS of Japan. The mission of the ISA is “facilitating theexchange of ideas among its members, and between its members and the general public”(the 2011 ISA meeting handout). The number of members of the ISA was 587 on May
25, 2011 and 480 on November 1, 2010. It is not clear why the number differed so much
between the two dates.
I happened to get an opportunity to join the 2011 annual conference of the ISA thatwas held at the University of Pittsburgh on May 31-June 3, 2011. The presentation ofresearch findings by members was held on June 1 and 2. There were 124 presentations.
Each presentation was done basically for 10 minutes and discussed for 5 minutes.
The themes, industrial fields, or topics that the ISA members picked up in theirpresentation at the 2011 annual conference were about power, energy, communication,
environment, IT (information/internet technology), airline, healthcare, logistics,
biomedical, life science, knowledge management, multinational enterprise,inter-corporate alliance, value chain, open innovation, mechanism of innovation,technology strategy, and so on.
The ISA doesn’t publish its own academic journal. Especially, graduate students
and young researchers who don’t have tenure may have great motivation to acquire
useful advice, suggestions, and comments in order to finish their papers and submit
them to pass the referee examination of some higher ranked academic journals. They aresearching for good information from eminent or famous researchers who attend the ISA
conferences to make sure which journal is suitable for each research outcome or paper.
4. Future Tasks(1) It is desirable to keep variety in the types of industry researched. As Miyata pointed
out, the ratio of studies about manufacturing has been very high in the total number ofstudies by the SIS members (see Miyata’s article in no. 26 (2006) of this Bulletin). We
need to study more about the service sector (e.g., software development, various kindsof professional services, medical services and care services, etc) and the other industrial
activities (e.g., new types of agriculture, energy, and public utilities).
(2) The number of presentations by the SIS members at the open sessions of the SIS
annual meeting has been 8 to 17 in these 5 years. This number seems to be not enough.
It is clear that the SIS meeting may be more activated and attractive for the participants38

if the number of presentations at the annual meeting is increased.
(3) The SIS has two different styles or systems of investigation of applied papers. One
pays attention to the contents of presentation and explanatory discussion. An editorial
meeting is held after all of the presentations, and the presenters whose contents werehighly evaluated are permitted to submit the final paper on the contents that werebasically presented at the session to the editorial board. The other is the usual style ofrefereed papers. This refereed journal system was introduced in June 2010. The issues
about it were explained in Miyata’s article in no. 26 (2006) of this Bulletin. As
mentioned earlier, there are so many research styles and research methods among the
SIS members. The SIS must keep the quality of papers issued in the journal. At thesame time, the SIS hopes to hold more active annual meetings. In order to do it, theSIS must gather active presenters at the annual meeting and applicants to submit
papers to the editorial board.
(Yoshihiko AKASHI, Osaka City University)

39

THE JAPAN SOCIETY OF INTERNATIONAL ECONOMICS
1. Introduction
The Japan Society of International Economics (JSIE) was founded in 1950. Itsconstitution states that its aim is to promote academic research of theoretical, empiricaland policy-oriented international economics. Membership of the society stood at 1,143
regular members in addition to 95 student members and 2 corporate members in July
2011.
JSIE holds a Spring Conference and an Annual Conference every year, usually in
May and October, respectively. JSIE is composed of three branches: Kanto, Chubu andKansai. The Kanto Branch holds an annual meeting and six regular research meetings ayear, the Chubu Branch holds research meetings several times a year, and the Kansai
Branch holds an annual meeting and research meetings around five times, in addition to
the research meetings several times in the Kyushu and Yamaguchi area.
2. Kojima Kiyoshi Prize and Trade Research Prize
The JSIE-Kojima Kiyoshi Foundation was established in 2006 by a donation fromthe late Dr. Kiyoshi KOJIMA, former Professor of Hitotsubashi University and thePresident of JSIE, and the Kojima Kiyoshi Prize was established in the same year by the
JSIE-Kojima Kiyoshi Foundation.
The Prize consists of two categories: the Kojima Kiyoshi Prize for Best Researcher
and the Kojima Kiyoshi Prize for Best Paper. The former is awarded to researchersamong JSIE members who have made an excellent contribution to the development ofresearch in international economics. The latter is awarded to researchers among JSIE
members who have published an excellent article in the JSIE journals. The
Administrative Committee for the JSIE-Kojima Kiyoshi Foundation selects the winners
every year.
The winners of the Kojima Kiyoshi Prize for Best Researchers have been Eiji
OGAWA (Hitotsubashi University) and Masahiko ITAKI (Ritsumeikan University) in 2008,
Shujiro URATA (Waseda University), Masayuki OKAWA (Ritsumeikan University), andYasuyuki SAWADA (The University of Tokyo) in 2010, and Laixun ZHAO (Kobe
University) in 2011.
The winners of the Kojima Kiyoshi Prize for the Best Paper have been Mitsuyo
ANDO (Keio University) in 2008, Ichiroh DAITOH (Tohoku University), Toru KIKUCHI(Kobe University) and Kazumichi IWASA (Kyoto University) in 2009, Akihiko YANASE(Tohoku University) in 2010.
40

The JSIE-Trade Research Prize was established in 2010 by a donation from
Professor Masao ODA (Ritsumeikan University). The aim of this prize is to promoteresearch of international trade and trade policy among JSIE members and is awarded to
JSIE members of 45 years old or less who have attained a remarkable academic
achievement. The Selection Committee of the JSIE-Trade Research Prize selects thewinner every year. The first winner of this award was Takumi NAITO (Waseda
University), who was selected in 2011.
3. Annual Meetings(1) 67th Annual Meeting
The 67th Annual Meeting was held at the University of Hyogo on October 11-12,
2008 and consisted of a Plenary Common Session, Free-theme Sessions and a
Ceremony for the Kojima Kiyoshi Prize, lectures by the Kojima Kiyoshi Prize winners
and a Presidential Address by Kenzo ABE (Osaka University).
In this Annual Meeting, two themes for the Plenary Common Session were
presented and discussed simultaneously as a new trial. One theme of the Plenary
Common Session was “Financial Globalization and International Currency System” inwhich Takekazu IWAMOTO (Kyoto University) took the chair. There were three keynote
speeches as follows:
1. “Globalizing Capital and International Monetary Regimes” by Sadayoshi TAKAYA(Kansai University); Comment by Kenji IWATA (Kyushu University)
2. “Global Imbalances and the Dollar” by Kazuo MIZUNO (Mitsubishi UFJ Securities Co.,
Ltd.); Comment by Takekazu IWAMOTO (Kyoto University)
3. “Foreign Exchange Regimes in Emerging Markets and Empirical Analysis on
Emerging Asian Foreign Exchange System” by Etsuko KATSU (Meiji University);
Comment by Hidefumi YAMAGAMI (Kinki University)
The other theme of the Plenary Common Session was “Globalization and Income
Distribution” in which Jota ISHIKAWA (Hitotsubashi University) took the chair. There
were three keynote speeches as follows:
1. “Globalization and Income Inequality” by Shujiro URATA (Waseda University);
Comment by Osamu ISHIDA (Kyushu University)
2. “Financial Institution and Firm Heterogeneity: Effects of International Capital
Movement and Costly Trade in Goods on Industrial Structures” by Taiji FURUSAWA(Hitotsubashi University); Comment by Yasuhiro SATO (Osaka University)
3. “International Trade and Firm Heterogeneity: Development of New Theory andEvidence” by Ryuhei WAKASUGI (Kyoto University); Comment by Kazuhiro IGAWA
41

(Kyoto Sangyo University)
In the Free-theme Session consisting of thirteen sub-sessions, 33 papers were
presented and discussed.
The ceremony to present the Kojima Kiyoshi Prize for Best Researcher to Eiji
OGAWA (Hitotsubashi University) and Masahiko ITAKI (Ritsumeikan University) was held.
E. OGAWA and M. ITAKI delivered their lectures. They are included in The International
Economy.
(2) 68th Annual Meeting
The 68th Annual Meeting was held at Chuo University on October 17-18, 2009 andconsisted of a Plenary Common Session, Free-theme Sessions and a Ceremony for the
Kojima Kiyoshi Prize delete these words. The theme of the Plenary Common Session
was Global Financial/Economic Crisis ─ Globalism at the Crossroads in which Eiji
OGAWA (Hitotsubashi University) and Takao KAMIKAWA (Yokohama National University)
took the chair. There were three keynote speeches as follows:
1. “Global Production System and Financial-Economic Crisis” by Osamu ISHIDA(Kyushu University); Comment by Minoru SEKISHITA (Ritsumeikan University)
2. “Global Economic Crisis and the Future of Capitalism” by Hirohisa KOHAMA(University of Shizuoka); Comment by Shinji ASANUMA (Hitotsubashi University)
3. “The Beginning of the Pax Sino-Americana” by Yoshihiko MOTOYAMA (Osaka Sangyo
University); Comment by Shugo ONOE (Seinan Gakuin University)
In the Free-theme Session consisting of eighteen sub-sessions, 47 papers were
presented and discussed.
(3) 69th Annual Meeting
The 69th Annual Meeting was held at Osaka University on October 16-17, 2010
and consisted of a Plenary Common Session, Free-theme Sessions and a Ceremony for
the Kojima Kiyoshi Prize, lectures by Kojima Kiyoshi Prize winners and a Presidential
Address by Fukunari KIMURA. The theme of the Plenary Common Session was
Sustainability and International Economy in which Masao SATAKE (Tohoku University)and Makoto TAWADA (Nagoya University) took the chair. There were three keynote
speeches as follows:
1. “Greenhouse Gas Reduction and the Governance of Global Economy” by Mitsuhiro
FUKAO (Keio University); Comment by Yasuyuki SAWADA (The University of Tokyo)
2. “Trade and Environment in the East Asian Region ─ Simulation Analysis by East
Asia Link CGE Model” by Qingzhu YIN (University of Nagasaki) and Kiyoshi FUJIKAWA
42

(Nagoya University) ; Comment by Kanemi BAN (Osaka University)
3. “Sustainability Research and Assessment: the Role of Economics” by Michinori
UWASU (Osaka University); Comment by Morihiro YOMOGIDA (Sophia University)
In the Free-theme Session consisting of fifteen sub-sessions, 43 papers were
presented and discussed.
The ceremony to present the Kojima Kiyoshi Prize for Best Researcher to Shujiro
URATA (Waseda University), Masayuki OKAWA (Ritsumeikan University) and Yasuyuki
SAWADA (The University of Tokyo) was held. S. URATA, M. OKAWA and Y. SAWADA
delivered their lectures. They are included in The International Economy.
(4) 1st Spring Meeting
The 1st Spring Meeting was held at Ryukoku University on June 11, 2011 andconsisted of Free-theme Sessions and a commemorative symposium for the 60th
anniversary of the foundation of the Japan Society of International Economics.
In the Free-theme Session consisting of six sub-sessions, 15 papers were presented
and discussed.
The commemorative symposium of the 60th anniversary of the founding of JSIE
was held under the umbrella title “New Phase of the Asian Economies ─ Three Years
after the Financial Crisis,” at which Fukunari KIMURA (Keio University) and Ryuhei
OKUMURA (Nagoya University) took the chair. There were three keynote speeches asfollows:
1. “Trans-Pacific Partnership: Challenges and Potential” by Robert SCOLLAY (Auckland
University)
2. “Institution Building for Macroeconomic and Financial Cooperation in East Asia” by
Chalongphob SUSSANGKARN (Thailand Development Research Institute)
3. “The Global Financial Crisis and China’s Policy Response” by Kar-yiu WONG
(University of Washington)
Corresponding to the keynote speeches, Shujiro URATA (Waseda Univesity), Shinji
TAKAGI (Osaka University) and Toshihiko KINOSHITA (Waseda University) stated theircomments.
(5) 70th Annual Meeting
The 70th Annual Meeting was held at Keio University on October 22-23, 2011 andconsisted of a Plenary Common Session, Free-theme Sessions and a Ceremony for the
Kojima Kiyoshi Prize and a lecture by the Kojima Kiyoshi Prize winner. The theme of
the Plenary Common Session was Japanese Trade Policy at the Crossroads in which
43

Keiichi UMADA (Kyorin University) and Satoru NAKAMOTO (Osaka City University) took
the chair. There were three keynote speeches as follows:
1. “New Trade System in the Asia-Pacific Region” by Shujiro URATA (Waseda
University); Comment by Kenzo ABE (Osaka University)
2. “TPP Strategy in the USA” by Shinjiro HAGIWARA (Yokohama National University);
Comment by Fukunari KIMURA (Keio University)
3. “Japanese Participation in TPP and its Agricultural and Industrial Reform” byHirohisa KOHAMA (University of Shizuoka); Comment by Nobuto IWATA (Aoyama
Gakuin University)
In the Free-theme Session consisting of fifteen sub-sessions, 49 papers were
presented and discussed.
The ceremony to present the Kojima Kiyoshi Prize for Best Researcher to Laixun
ZHAO (Kobe University) was held. L. ZHAO delivered his lecture. It will be included in
The International Economy.
4. Publication
The JSIE publishes two kinds of official journals: The International Economy in English
and Kokusai Keizai (International Economy) in Japanese. In both journals, thesubmitted papers undergo a process of refereeing.
(1) The International Economy
Four volumes, vol. 12, 13, 14 and 15 have been published in 2008, 2009, 2010 and 2011
respectively. The contents of the three volumes are as follows:
Vol. 122007 JSIE-Kojima Kiyoshi Prize Lectures:“Firm Heterogeneity in International Trade Theory”: Taiji FURUSAWA“A Theoretical Analysis of Public Intermediate Goods and International Trade”: Makoto
TAWADA“FDI, Offshore Sourcing and Firm Heterogeneity: Perspectives of New Empirical
Challenges”: Ryuhei WAKASUGIArticles:“A Dynamic Chamberlin-Heckscher-Ohlin Model with Endogenous Time Preferences”:
Kazumichi IWASA, Toru KIKUCHI, and Koji SHIMOMURA“Industrial Capital Accumulation, Environment and Urban Unemployment in a
Developing Economy”: Ichiroh DAITOH“The Russian Financial Crisis：An Empirical Investigation”: Elena ZINKOVSKAYA
44

Vol. 132008 JSIE-Kojima Kiyoshi Prize Lectures:“Global Imbalances and East Asian Currencies”: Eiji OGAWA“The Birth of International Surplus Capital and After”: Masahiko ITAKIArticles:“Global Pollution, Dynamic and Strategic Policy Interactions, and Long-run Effects ofTrade”: Akihiko YANASE“The Effects of Financial Integration on Structural Similarity: Consumption
Risk-sharing and Specialization”: Taiyo YOSHIMI“FDI with Reverse Imports and Hollowing Out”: Kiyoshi MATSUBARA“An Analysis of Preferential Trade Agreements”: Yoshitaka KAWAGOSHI
Vol. 14
Symposium on Contemporary Issues of International Trade:“Introduction”: Ryuhei WAKASUGI“Unilateral Tariff Liberalisation”: Richard BALDWIN“A Flying Geese Theory of Industrial Development”: Taiji FURUSAWA“Environmental and Trade Policies for Oligopolistic Industry in the Presence ofConsumption Externalities”: Jota ISHIKAWA and Toshihiro OKUBO“The Environmental Industry, Environmental Policies, and International Trade”: Kenzo
ABE and Yasuyuki SUGIYAMA“Trade and the Environment: Spatial Separation under Product Differentiation”:
Nobuhito SUGA and Makoto TAWADA“Export of Recyclable Materials and the Japanese Recycling System: The Case of Used
Plastic Bottles”: Masao SATAKE, Yoshiko YAMASHIGE, and Toru KIKUCHI“Activities of Japanese Multinationals with Productivity Heterogeneity”: Ryuhei
WAKASUGI and Ayumu TANAKA
Vol. 15
Commemorative Symposium of the 60th Anniversary of the founding of the JSIE
“New Phase of the Asian Economies-Three Years after the Financial Crisis”“Introduction”: Takekazu IWAMOTO, Ryuhei OKUMURA, Fukunari KIMURA“Trans-Pacific Partnership: Challenges and Potential”: Robert SCOLLAY“Institution Building for Macroeconomic and Financial Cooperation in East Asia”:
Chalongphob SUSSANGKARN
45

“The Global Financial Crisis and China’s Policy Response”: Kar-yiu WONG
2010 JSIE-Kojima Kiyoshi Prize Lectures:“Production Subsidy/Tax Policy on Foreign Direct Investment in the Presence of Urban
Unemployment and Labor Migration”: Masayuki OKAWA“Economics of Official Development Assistance: Views from Japan and East Asia”:
Yasuyuki SAWADA“Economic Impacts of Free Trade Agreements (FTAs)”: Shujiro URATA
Articles:“Altruism and the Transfer Paradox”: Kojun HAMADA(2) Kokusai Keizai
Kokusai Keizai, the official journal of the JSIE, annually publishes a report of theannual meeting. The contents of No.59, No.60, No.61 and No.62 are as follows:
No.59
Articles Presented at the 66th Annual Meeting“Asian Financial Crisis and the IMF”: Hirohisa KOHAMA
Comment: Akira ARIYOSHI“Regional Monetary Cooperation in East Asia”: Eiji OGAWA
Comment: Chi Hung KWAN
“Asian Currency Crisis and Poverty: A Survey”: Yasuyuki SAWADA
Comment: Nobuhiko FUWA
Contribution“Foreign Capital Inflow and Twin Crisis”: Satoko OKUYAMA
No.60
Articles Presented at the 67th Annual Meeting“Globalizing Capital and International Monetary Regimes”: Sadayoshi TAKAYA
Comment: Kenji IWATA“Global Imbalances and the Dollar”: Kazuo MIZUNO
Comment: Takekazu IWAMOTO“Foreign Exchange Regimes in Emerging Markets and Empirical Analysis on Emerging
Asian Foreign Exchange System”: Etsuko KATSU
Comment: Hidefumi YAMAGAMI“Globalization and Income Inequality”: Shujiro URATA
Comment: Osamu ISHIDA
46

“Financial Institution and Firm Heterogeneity: Effects of International Capital
Movement and Costly Trade in Goods on Industrial Structures” Taiji FURUSAWA
Comment: Yasuhiro SATO
”International Trade and Firm Heterogeneity: Development of New Theory andEvidence”: Ryuhei WAKASUGIComment: Kazuhiro IGAWA
No.61
Articles Presented at the 68th Annual Meeting“Global Production System and Financial-Economic Crisis”: Osamu ISHIDA
Comment: Minoru SEKISHITA“Global Economic Crisis and the Future of Capitalism”: Hirohisa KOHAMA
Comment: Shinji ASANUMA“The Beginning of the Pax Sino-Americana?”: Yoshihiko MOTOYAMA
Comment: Shugo ONOE
Contributions“Strategic Trade Policy and Food Quality Standards: Horizontal and Vertical ProductDifferentiation Case”: Sayaka NAKANO“The Effects of Infrastructure on Trade and Welfare”: Rei MATSUMURA
No.62
Articles Presented at the 69th Annual Meeting“Greenhouse Gas Reduction and the Governance of Global Economy”: Mitsuhiro FUKAO
Comment: Yasuyuki SAWADA“Trade and Environment in the East Asian Region: Simulation Analysis by East Asian
Link CGE Model”: Qingzhu YIN and Kiyoshi FUJIKAWA
Comment: Kanemi BAN“Sustainability Research and Assessment: the Role of Economics”: Michinori UWASU
Comment: Morihiro YOMOGIDA
Commissioned Article“From Pacific Cooperation to APEC 2010: Following Professor Kiyoshi Kojima’s
Pioneer Works”: Ippei YAMAZAWA
Review Article“The Past and the Future of International Political Economy: Review of Two
Distinguished Books by Prof. Sekishita and by Prof. Sasaki”: Kimihito SAKURAI
Book Review
47

“Noritsugu Nakanishi, Game-Theoretic Analysis of Trade Policies under Interdependent
Circumstances: Applications of the Theory of Social Situations and the Stable Set
Approach”: Shigeo MUTO
”Yoichi Matsubayashi, External Imbalances and Macroeconomy: Theory andEvidence”: Takeshi KUDO
“TRAN Van Tho, Development and Transition in the Vietnamese Economy”: Kenichi
OHNO
4. International Collaboration
JSIE and The Korean International Economics Association (KIEA) concluded apartnership program in 1995, which aims at the promotion of mutual understanding ofworld, Asian, Japanese and Korean economies, mutual invitation to respective annual
conventions, the promotion of joint research, and so on. In recent years, both presidentsof JSIE and KIEA have mutually visited the annual meeting of KIEA and JSIE,
respectively. The members of both JSIE and KIEA have also joined and presented
papers in the annual meetings of KIEA and JSIE, respectively.
(Masahiro ENDOH, Keio University)

48

JAPAN LOGISTICS SOCIETY
1. General Description(1) Foundation and purpose
The Japan Logistics Society (Nihon Butsuryu Gakkai: JLS) was established in May
1983 with the aim of studying and promoting both academic and practical research on
logistics and related matters based on an interdisciplinary approach. The society is also
responsible for disseminating research results as well as addressing conceptual models
and technical exchange among the researchers concerned.
The President of the Association is Hirohito KUSE (Tokyo Univ. of Marine Scienceand Technology) and there are 489 members (including 431 regular members) as of
May 26, 2012.
(2) Organization and research fields
The structural organization of the society is composed of the General Assembly,
the Board Meeting, six Chapters throughout Japan and nine committees including theeditorial committee, public relations committee, planning committee, etc. In line withsocial, academic, educational, political, economic changes in the environment, thelineup of committees or chapters has been changed and enhanced.
The research fields of the society currently cover all the fields of logistics
including logistics management such as logistics strategy, logistics planning, logistics
control and logistics operation, logistics organization, logistics cost management,
logistics psychology, logistics law and regulation, logistics information, logistics
technology, logistics human management and so on from theoretical and practical pointsof view.
(3) Activities
The Activities of the Society can be summarized as follows:①Conferences, Chapter workshops and seminars②Publications of research results③Communication and exchange of Society activities with other related domestic andforeign organizations④Other related activities49

(4) Membership
There are three membership categories: regular member, associate member andsupporting member. Regular membership has gradually been increasing in number since
establishment (See Table 1). This tendency of only slight increases in number is due tothe comparatively strict qualifications for regular membership; these qualifications need
to be discussed and reevaluated in the near future.

Table 1. Number of Regular Members by Year
No.

Year

No. of Regular Members

1

1983

135

1984-93(abridged)

12

1994

267

13

1995

273

14

1996

286

15

1997

297

16

1998

305

17

1999

297

18

2000

309

19

2001

339

20

2002

360

21

2003

379

22

2004

413

23

2005

428

24

2006

443

25

2007

444

26

2008

479

27

2009

432

28

2010

425

29

2011

435(499 in total)

50

2. Summary of Activities
2.1 Annual Conferences
Since establishment an Annual National Conference has been held once a year, andthe 29th Annual Conference was scheduled for September, 2012. The unified theme andthe host institutions where annual conferences have been held are as follows:(1) The 19th Annual Conference
The 19th Conference was held on September 5-6, 2002 at Sapporo Univ. (Sapporo)under the unified theme of Trends and Problems of Regional Logistics, with 34 papers
presented.
(2) The 20th Annual Conference
The 20th Conference was held on September 4-6, 2003 at Osaka Sangyo Univ.
(Osaka) under the unified theme of Asian Logistics Systems in the 21st Century, with 28
papers presented.
(3) The 21st Annual Conference
The 21st Conference was held on September 2-4, 2004 at Nakamura Gakuen Univ.
(Fukuoka) under the unified theme of International Logistics in East Asia, with 22
papers presented.
(4) The 22nd Annual Conference
The 22nd Conference was held on September 22-24, 2005 at Ryutsu Keizai Univ.
(Matsudo) under the unified theme of Logistics and Environmental Issues, with 48
papers presented.
(5) The 23rd Annual Conference
The 23rd Conference was held on September 21-23, 2006 at Hiroshima National
College of Maritime Technology (Takehara) under the unified theme of Activation ofRegion and Transition of Logistics, with 37 papers presented.
(6)The 24th Annual Conference
The 24th Conference was held on September 6-8, 2007 at Kanagawa Univ.
(Yokohama) under the unified theme of Evolving Companies’ Logistics and Strategy of
Logistics Contractors, with 41 papers presented.

51

(7) The 25th Annual Conference
The 25th Conference was held on September 4-6, 2008 at Tokai Univ. (Shizuoka)
under the unified theme of Logistics and Risk Management, with 40 papers presented.
(8) The 26th Annual Conference
The 26th Conference was held on September 10-12, 2009 at Aichi Gakuin Univ.
(Aichi) under the unified theme of CSR on Physical Distribution and Logistics, with 52
papers presented.
(9) The 27th Annual Conference
The 27th Conference was held on September 2-4, 2010 at Hitotsubashi Univ.
(Tokyo) under the unified theme of New Development of Global Logistics and its
Leaders, with 53 papers presented.
(10) The 28th Annual Conference
The 28th Conference was held on September 1-3, 2011 at Sanno Univ. (Kanagawa)under the unified theme of New Current of Supply Chain Logistics, with 49 papers
presented.

2.2 Publications(1) Journal of the Japan Logistics Society
The Society decided to issue the Journal of the Japan Logistics Society in 1992,
and the first Journal was issued that year. Since then, 20 volumes have been publishedand are roughly summarized in Table 2.

Table 2. Summary of Journals issued
No.

VolumeDate of Issue

1

No. 1

Nov., 1992

2

No. 2

Dec., 1993

Contents- Academic Papers, 5- Academic Reports, 1- Academic Papers, 3- Academic Reports, 1

52

Pages
95
81

3

No. 3

Dec., 1994

4

No. 4

Dec., 1995

5

No. 5

Dec., 1996

6

No. 6

Dec., 1997

- Academic Papers, 2- Academic Reports, 2- Academic Papers, 2- Academic Reports, 4- Research Reports, 4- Academic Papers, 7- Academic Reports, 3

157- Academic Papers, 8

107- Academic Papers, 7- Academic Reports, 1- Academic Papers, 118
No. 8May, 2000- Academic Reports, 2- Academic Papers, 99No. 9May, 2001- Academic Reports, 1- Academic Papers, 1210No. 10
May, 2002- Academic Reports, 5- Academic Papers, 15
11
No. 11
May, 2003- Academic Reports, 3- Academic Papers, 13
12
No. 12
May, 2004- Academic Reports, 6- Academic Papers, 18
13
No. 13
May, 2005- Academic Reports, 5- Academic Papers, 23
14
No. 14
May, 2006- Academic Reports, 10- Academic Papers, 19
15
No. 15
May, 2007- Academic Reports, 8- Academic Papers, 22
16
No. 16
May, 2008- Academic Reports, 8- Academic Papers, 23
17
No. 17
May, 2009- Academic Reports, 5- Academic Papers, 22
18
No. 18
May, 2010- Academic Reports, 4- Academic Papers, 19
19
No. 19May, 2011- Academic Reports, 6- Academic Papers, 26
20
No. 20
May, 2012- Academic Reports, 10Note: Academic Paper: Refereed
Academic Report: Non-Refereed
Research Report: Non-Refereed
7

No. 7

May, 1999

53

63

136

135
195
96
182
164
181
205
285
241
287
269
255
223
325

(2) Annals
The Society has been publishing its Annals once a year since establishment and so
far 28 Annals have been issued, as shown in Table 3.

Table 3. Annals by Year
No.

VolumeFiscal Year

Date Issued

Pages

1

Vol. 1

1984

Mar. 20, 1985

25

Vol. 2-12

1985-1996(abridged)

13Vol. 13

1996

May 31, 1997

61

14

Vol. 141997

May 31, 1998

56

15

Vol. 151998

May 31, 1999

58

16

Vol. 161999

May 31, 2000

60

17

Vol. 172000

May 31, 2001

64

18

Vol. 182001

May 31, 2002

52

19

Vol. 192002

May 31, 2003

53

20

Vol. 202003

May 31, 2004

52

21

Vol. 212004

May 31, 2005

57

22

Vol. 222005

May 31, 2006

69

23

Vol. 232006

May 31, 2007

57

24

Vol. 242007

May 31, 2008

69

25

Vol. 25

2008

May 31, 200963

26

Vol. 262009

May 31, 201084

27

Vol. 272010

May 31, 20118328

Vol. 282011

May 31, 2012

7354

3. Contents of Journals (Vol.20）
Contents of the 20th Japan Logistics Society Magazine

Keynote Address
Evolving into the Logistics Era
Aichi Gakuin University

Hirofumi TANGE ……………………………………… 1th

28 National Conference of the Japan Logistics Society
Comments for the Main Conference Topic ……………………………………… 5
Program ……………………………………………………………………………

6

Guest Speech
Action of physical distribution for the Great East Japan Earthquake.
Ministry of Land, Infrastructure, Transport and Tourism Teruhisa TANAKA …… 13
Special Lecture [1]Current status and challenges of strategy for bringing local wholesalers into anationwide network
Supplico Inc. Akiba & Company., Ltd Yoshiaki AKIBA ………………………… 21
Special Lecture [2]The logistics strategy of the Ajinomoto group.
Ajinomoto Logistic Corporation

Masahiro TSUNEYOSHI ……………………… 25

Panel Discussion
New trends in supply chain logistics …………………………………………………27

Refereed Papers
1. Innovation and Development of the Chinese Freight Market: An Empirical
LI, Ruixue …………………… 29

Study Using the Transaction Cost Theory

Jimyoung LEE ………………… 37

2. Tax System in Korean Maritime

3. The Great East Japan Earthquake’s Impact on the Automobile Industry
Shinji ISHIHARA, Koji KATO …… 45
4. A Study on Creating a New Image of Physical Distribution by Education on
Physical Distribution in University
Tomoyoshi OGAWA, Kazuo KIKUCHI, and Masato SHOJI………………… 53
5. Discussion about Practical Use of ERP for Supply Chain Management
Yoshiyuki NAGASAKA, Eun Kyung KIM…………… 61
6. Human Resource Development for 3PL Business from a Learning Model Perspective
Takeshi OSHITA, Takuya AKIKAWA………………… 69

55

7. Analysis on the History of Construction of the Cold-chain and the Relationshipwith the Logistics System in Japan

Daisuke WATANABE…………………… 77

8. A Study of the Alliance of Agriculture and Supermarkets
Yuanyuan Z HANG, Yuji Y ANO …………85
9. A Study on Trade Effective Incentives in Grocery Category
Masanao TERASHIMA, Toyoki KIJIMA …… 93
10. A Study on Quality and Safety Problem of Processed Food in Food Logistics
Norio HAYAKAWA, Saburo TSURUTA, Takao KAWASHIMA …… 101
11. Consideration of the Strategic Alliance among Japanese Logistics
Companies in Developing Countries in Asia

Norihiro IZUNO…………………109

12. Fuzzy Time Series Forecasting Application to Multi-echelon Inventory Control
Achmad RIADI, Saburo TSURUTA, Hisayuki KUROKAWA……117
13. Importance of Logistics Management in the Distribution of Chinese Medicine
Yanhua JIN ……………………………… 125
14. How Could They Supply Oil-Products to the Disaster Area?
─Analysis about the SCM of oil-products at the beginning of the 3.11 earthquake
Kenichi ARAKAWA ……………………… 133
15. The Influence for Model Shift by Discounting of Highway Charges
Kenichiro NAGAIWA, Toshihiko MATSUO …………………… 141
16. ZARA’s Supply Chain Network with the Air Transportation Delivery System
Yoshio DOI, Hisayuki KUROKAWA …………………………… 149
17. A Preliminary Study of the Disaster Stockpile using the Distribution Inventory
Masato SHIMIZU, Tomoyasu ISHIKAWA ………………………157
18. Econometric Analysis on Sourcing Strategy in the Global Business─ Focus on the Manufacturing Industry in Japan ─

Shinya MITOU………… 165

19. A Study on the Relation between Global Competitiveness and International Logistics
Performance

Oh-Kyoung KWON, Hirohito KUSE …… 173

20. Future Direction for Logistics in Niigata Area utilizing Railway and
Hidetoshi KUME ……………… 181

Maritime Transportation

21. Empirical Analysis and Survey Development of China’s Economic Development andPAN Peng ………………………189

the Transportation Function

22. Case studies of Human Resource Development for Logisticians in PhysicalAkihiro HAMASAKI………………197

Distribution Firms

23. On Applying the VMI System between Distribution Center and Retail Stores
Jun LI, Etsuo MASUDA………… 205
24. An Analysis on Recovery of Infrastructure and Delivery of Goods for a56

Suffered Area from the Great East Japan Earthquake
Tatsunori YAMADA, Hirohito KUSE ……………… 213
25. Public-Private Partnership for Emergency Relief Logistics
Takuya AKIKAWA, Keishi HISANO………………… 221
26. Port Access on Freight Transport in Landlocked Countries: the Case of Central Asia
Shinya HANAOKA, Tomoya KAWASAKI ………… 229

Non-Refereed Papers
1. A Study on the Innovation Factor for New Logistics Business Model
Seung–Lin HONG ………………………………… 237
2. A Study on the Regulations Necessary for Port Environmental Pollution
in the Era of Green Logistics
Young-tae PARK, Jung-wouk WOO …………………245
3. A Case Study of the Recent Trends and Issues of the Recycling Business
Tomomi TOYOZUMI, Tadashi NAGAOKA ……………253
4. Logistics Education Utilizing CSR REPORT and NIE at Vocational High School
─ Focusing on local educational power growth work
Katsumi ASAI, Fumihiko HATTORI …………………261
5. A Study on Logistics Education of Academia-Industry Cooperation
Chihaya T ODA …………………………………… 269
6. Actual Condition and Proposal for the Issue of Shopping Refugees in Urban Areas
Wataru EBIHARA, Takuya AKIKAWA ……………… 285
7. Problem of Oil Supply Chain Disruption in an Earthquake Disaster
Shoko EDAZAWA, Takuya AKIKAWA …………………286
8. Obtaining Critical Disaster-Relief Supplies in Times of Emergency:
Study of supply-demand balance for each type of distribution route
Yuji Y ANO………………………………………293

9. A Study on Critical Success Factors of Logistics Companies in the Chinese Logistics
MarketKoji TANAKA…………………………………………301
10. Route Planning of Multimodal Transportation Associated with CO2 Emissions
Keizo WAKABAYASHI, Keiichi SATO, Yu FUJITA …………… 309

Information from the Secretary………………………………………………………… 317(Toshihiko MATSUO, Tokai University)

57

THE JAPAN SOCIETY OF LOGISTICS AND SHIPPING ECONOMICS
1. Brief History and Features of the Society
The Japan Society of Logistics and Shipping Economics (hereinafter abbreviatedas JSLSE) was established originally as the Japan Society of Shipping Economics in
October 1966. Its purpose has been to encourage the academic studies of economic
issues of maritime transportation and the maritime industry focusing on shipping
economics, spread its knowledge widely and contribute to the sound development of
its related industries. Nowadays, the study field of the Society has been expanded tophysical distribution and logistics through shipping since the latter half of 1990s.
JSLSE not only convenes its annual meeting but also has regular study meetings
held by its Western Japan and Eastern Japan committees six to nine times a year
respectively. Likewise, JSLSE issues its annual bulletin: Journal of Logistics andShipping Economics, which is a record of the fruits of studies produced by the society
members that pass through a strict examination by referees. It will reach its 39th
volume this year.
The feature of the society is to make open the fruits of studies of members
belonging to universities and others at a “place of interchange” with the industrial
research world, thereby developing its activities with it as a source of energy. Thoseshipping and logistics economists who are serving the industry have responded very
positively to the expectations of academism. Therefore, we have been exploring themes
for studies under “open academism”, through the cooperation of industry and academia,
and trying our best to deepen the theory so as to contribute to the development of theshipping and logistics theory warrantable worldwide.
2. Membership
The number of our membership at the end of 2010 was as follows: 272 full andstudent members, 13 honorary members, 20 corporate members, and four special
individual members. About 60 percent of the members belong to academicorganizations such as universities and institutes, while the rest of them belong tobusiness and governmental organizations.
3. Trends of Studies since 2005
As mentioned, our society provides study focusing on maritime transportation andrelated transportation and industry from various different academic fields, ranging from
economics, management science, finance, to engineering. Research topics can be58

classified into the following three. The first one explores business logistics, physicaldistribution, and related infrastructures and transport services. The second one is theanalysis of behaviours and strategies of shipping and airline companies from theviewpoints of economics. The third one focuses on environment issues and related
policy issues in transport services, shipping and airlines in particular. Let us introduce
several studies related to these three topics published in our bulletin.
Mariko FUTAMURA (Aichi Gakuin University) considers “Port Competition
Strategies: An Analysis of Container Port Demand”. In recent years, the market share ofcargo handled by Japanese ports has decreased in relation to other Asian ports. The
paper attempts to examine key factors for competitive success of ports. The Japanese
Government provides financial support to national ports. However, ports have tostrategize and “grow”. For example, if there are two ports within the same region, ashipping company will choose one. Each port will have to think about attracting
domestic and international customers. A gravity model is employed to evaluate thedemand function incorporating port specific characteristics. These port specificcharacteristics, port area and number of terminals are used to determine the presence ofefficiency and economies of scale. However, there are trade-offs between these factors.
Each port should employ a good balance in deploying these characteristics or choose tocooperate with the other neighbouring ports.
Lin GAO (Ritsumeikan University) presents a study of “An Analysis of Growth
Potential of Five Japanese Ports bordering the Sea of Japan”. In 2004, in an effort toimprove efficiency of the global and domestic logistics, the Ministry of Land,
Infrastructure and Transport introduced a policy which focused on “Exchange andestablishing greater connectivity” as well as “Independence and decentralization for theregions”. The government carved out eight regions in Japan, each supported by aninternational logistics strategy team. The Hokuriku international logistics strategy teamwas established in 2005. The study examines the impact of the strategy on fivecontainer freight ports: Niigata, Naoetsu, Fushiki Toyama, Kanazawa, and Tsuruga inthe Hokuriku region. An analysis of current performance is carried out, followed byassessing the growth potential of these ports employing SWOT analysis. There is a needto improve and promote the Niigata port as a base-hub port and link its development to
the other container freight ports. Finally, the study addresses issues on improvements inground transportation network and connectivity between ports, in particular shortening
lead time and other efficiency enhancing strategies.
Hidekazu ITOH (Kwansei Gakuin University) provides a paper titled, “Container
Handling Concentration for Export and Import in Japan’s Port Systems: Decomposition
59

Analysis of the Gini Coefficient”. The paper discusses traffic inequality in Japan’scontainer port systems by using the inequality decomposition analysis of the Gini
coefficient. Sixty-two domestic container ports are considered; these ports are
geographically divided into five port ranges. Container traffic data is taken for theperiod 1988-2007. Contrary to expectations, the result shows that there is no significant
difference on the estimated coefficients of inequality for export and import. However,
the index of “inequality within port ranges” for the Kansai port range showed distinct
declining trends not only for export but also for import; these trends can be attributed tothe slow recovery of port handling demand in Kobe port, which suffered heavy damage
from the Hanshin earthquake. Further, the index of “inequality between port ranges” forthe Kansai and Western Japan port ranges, which have undergone improvements, andbetween the Kansai and Kanto port ranges, which include the first-place Tokyo port,
also showed declining trends. The change in inequalities between the Kansai andWestern Japan port ranges is based on the structural similarity between them, whereas
the change in inequalities between the Kansai and Kanto port ranges is based on the
structural difference between them. This finding indicates a change in port cargo flow
after the second half of the 1990s because of the accompanying improvement in port
service contributed by the Western Japan regional ports and the port service provided by
the Kanto ports as an alternative to the service provided to the Kansai ports, including
the Kobe port. Moreover, because of export handling with different shipper’s behaviors
and import handling with similar shipper’s behaviors in these regions, the estimatedtrend in the export and import traffic inequality between the Kansai and Chubu port
ranges differs from that between other port ranges.
Motohisa ABE (Ministry of Land, Infrastructure, Transport and Tourism) provides
an examination titled, “A Study on Policy Response to Global Supply Chain
Management by International Ports”. Global supply chain management has been
adopted by global firms. In order to support this trend, the roles of international seaports
are vital: they are required to offer quality of service in transport such as reduced leadtimes and to offer space for various value-added activities which is called port logistics
hub. The purpose of the study is to examine and propose policies for national
government and port authorities with a view to supporting global supply chain
management. Firstly, roles and functions required for international seaports are
examined, and policy measures and port developments which have been taken in both
Japan and other Asian countries are reviewed. Then, the results of a questionnaire
survey conducted by the author on actual needs of port logistics hub are introduced.
Based on the examination, it has been proposed that Japanese ports should strengthen60marketing function and create conditions where various value-added activities areoperated smoothly. By doing so, ports are expected to gain competitiveness and tosupport global supply chains effectively.
Kyong-mo KOO (Dong-eui University) offers “An empirical study of humanresources’ performance in Korean logistics companies”. The objective of the study is toevaluate the environmental factors affecting the performance ability evaluation oflogistic specialists in leading general logistics companies. The evaluation of logistics
specialists’ performance ability can be explained with two primary environmental
factors: external environment (customer’s range to decide outsourcing in logistics
services) and internal environment (the degree of specialties in the logistics organizationand the interests of logistics specialists’ education). In addition, the form of a generallogistics company’s capital holdings (domestic or foreign) can also affect the evaluationof performance ability. The results are meaningful to the managers in domestic
companies and the government administration related to logistics industry. They
demonstrate that external environmental factors affect the evaluation of performanceability, whereas internal environmental factors (education interests and the form ofcapital holdings) partially affect this. The results also indicated that the companies who
have more interest in the education of specialists are generally evaluated highly on their
specialists’ performance ability. In addition, foreign-owned companies present higher
evaluation of professionals’ ability than domestically owned companies.
Sayaka SHIOTANI (Kyoei University) provides a study titled “Methods for
Estimating the Value of Airports toward Privatization and Several Aspects for Structural
Reform ─ The Assessment Based on EV/EBITDA Method and Specific Conditions
for Realizing The Company Value”. The objectives of the study are to estimate the valueof airports and to study institutional reforms to facilitate the performance ofprivatization. It is necessary to estimate the asset value in an effort to bring theinvestors’ attention to the public assets, and to explain to the public how much
benefit/costs will ensue due to the privatization. The first part of the study focuses on
estimating the value of specific airports and some other public assets by the
EV/EBITDA method, which shows the followings; (1) Narita, Kobe and other airports
are extremely undervalued investments; (2) the value of Kansai Airport is half that of
Narita; and (3) as for Kobe Airport, there is not much difference between EV/EBITDA
and DCF methods. In the latter half of the study, it concludes that, in an effort to realize
the potential value estimated above, and to help these privatized airport companies toself-support, the following reform measures should be put in place: (1) promoting total
independent management and deregulation of these privatized airports; and (2)61abolishing energy tax and the Special Account of Airport Infrastructure Building, andintroducing an independent account system for these airport companies.
Sang-june JEON (The Hansin Diesel Works, Ltd.) presents “Influential Factors on
Maritime Cargo Charge for Bulk Goods: Empirical Support with VECM”. The author
attempts to identify factors and non-stationary vectors influencing maritime cargocharges for bulk goods. Using data from January 1999 to November 2008, maritime
cargo charges for bulk goods were assessed using VECM and Granger causality tests
that considered foreign exchange rates, oil prices and Japanese steel prices. Estimationsof unit roots showed that all variables had unit roots and were co-integrated withco-integrating vectors. The Granger causality test was applied to ascertain the directionof correlative relationships. Simulations revealed long-run economic equilibria or
co-integrating relations. The results of long-term trends in the identified factors
supported explanations of external economies.
Young-tae PARK and Ki-jo HAN (Dong-eui University) offer “An Empirical Studyon the Impact of Logistics Firms’ Characteristics on Values of Firms: Focused on the
Logistics Firms in Japan. The paper empirically analyzes the relationship between
logistics firms’ characteristics and firms’ value in Japan firms. It has found thefollowing interesting results. The first one is that a negative relation between logistics
cost and Tobin’s Q exists. High logistics cost restores firms’ value. The second is that apositive relation between logistics firms’ size and Tobin’s Q exists. The bigger the firms’size, the bigger the firms’ value. Lastly, the firms’ value is negatively related to sales,
and the firms’ value is positively related to ROE (return on equity), and the firms’ value
is negatively related to free cash flow. Nowadays logistics firms in the world arecontinuously struggling to strengthen their own competitive power, by cost control.
Specially advanced logistics firms are trying to build logistics networks, new markets
and competitive power by FDI and M&A.
M. SUTTON (East West Center) considers “International Shipping in a Green Age:
Some Problems with the Kyoto Protocol and IMO”. In the current Green Age,international maritime transportation is no longer immune from the policy consequencesof climate change. The exclusion of maritime emissions from national estimates under
the Kyoto Protocol created a false sense of security which has resulted in divergent
national and regional responses to the post-Copenhagen climate change regime. Due tothe failure of the Copenhagen conference, the focus is now on the crafting of national
regimes to define, manage and regulate carbon emissions from maritime shipping. The
response of the industry and the discipline of maritime economics must transcend theprevailing superficial notion of “green shipping” and move toward a serious
62engagement with the policies of climate change.
4. Annual Meeting (2005~2010)
1) The 39th annual meeting
The 39th annual meeting was held at Osaka Gakuin University in October, 2005.
The common subject for the symposium was The Development of Asian PhysicalDistribution Systems and Logistics. A summary is as follows.
Hiroshi YAMAGISHI (Ryutsu Keizai University) discusses “The Development of
Asian Economy and the Prospects of Physical Distribution in the Future” and tried toclarify the current state of economy, marine transportation, harbors, and physicaldistribution in Asia. The role of Japan in Asia has decreased gradually in the position ofmarine transportation, harbours, and physical distribution. It is China that leads thephysical distribution market in the world.
Shigeru YOSHIDA (Kobe University), in his presentation titled “Competition
between Air and Sea Transports in Japan/Asia Trade”, analyzed the conditions regarding
the choice between air transport and sea transport in international physical distributionof Japan/Asia trade. Air transport has a disadvantage against sea transport in short-haultransport. But demand for air transport has been increasing steadily in internationaltransport between Japan and Asia. There are various factors in the background of such atrend. The most important one is the evolution of trade patterns, namely thedevelopment of horizontal international specialization. There is a possibility that theshares of air transport will surpass those of sea transport in Japan’s international tradearound 2015.
Keiji HABARA (Kansai University), in his study titled “Enhancement of Maritime
Security in Asian Seas”, provided accurate and comprehensive description of the extant
and emerging threat after 9/11 attack. The alert of the risk of maritime terrorism has
been raised. Nonetheless, the investment to protect mobile and static maritime assets
has been low. As the sea is the least policed domain, maritime assets are vulnerable toterrorist attack. Before onshore and offshore targets are struck by a wave of maritime
attacks, the international community must develop mechanisms to prevent, protect andrespond to the threat. As the threat of maritime terrorism is complex and will notdiminish in the short term, there is no singular approach to dealing with the threat. With
the help of the shipping community, governments can reduce the threat of a maritime
attack to manageable proportions by developing a multi-pronged, multi-agency,
multi-jurisdictional, and multi-national response.
Takayuki MORI (Mitsui O.S.K. Lines, Ltd.) considered “East Asia Market
63Integration and Logistics Changes from a European View”. Regional integration in East
Asia with the help of ASEAN-plus three (Association of Southeast Asian Nations) is
being developed with FTAs (Free Trade Agreements) and EPAs (Economic Partnership
Agreements). Currently, ASEAN is negotiating FTAs and EPAs with Japan, Korea, andChina respectively. It is prospected that another free trade zone the size of the EU(European Union) and NAFTA (North American Free Trade Agreement), which consistsof the three structures of Japan-ASEAN, China-ASEAN, and Korea-ASEAN, will
emerge by approximately 2010. Meanwhile, there is no doubt that further deregulation
will be achieved in the process of market integration and trade liberalization. As Europe
experienced the competition among logistics corporations in the 1990’s as a result of the
deregulation in transportation and traffic fields, East Asia is anticipated to face anothersevere competition in the logistics field in the process of its regional market integration.
Consequently, logistics services such as third-party logistics will evolve in East Asia.
2) The 40th annual meeting
The 40th annual meeting was held at Kobe University in October, 2006. We had
two common subjects for the symposium. The first one was “Prospects and Problems
for Global Logistics: Restructuring of International Competitiveness”. A summary is asfollows.
Hiroshi HOSHINO (Kyushu University) made a presentation titled “Strategies ofLiner Shipping Companies ─ Capability of Logistics Service Providers”. After thestorm of mergers and acquisitions in the liner shipping industry, shipping companies
have taken corporate strategies to become Logistics Service Providers (LSPs) byproviding a broad range of logistics functions on behalf of shippers. While it issuggested that liner shipping companies as common carriers were not able to offer
tailor-made services to versatile shippers, Japanese shipping companies as well as major
competitors are trying to contribute to the shippers’ Supply Chain Management (SCM)
through both horizontal and vertical integration strategies. The recent trend of formationof joint ventures, strategic alliance and partnerships with forwarders is an example oftheir integration strategy. The author analyzes strategies of both shippers and shipping
companies, the relevance of their strategies and their capabilities of logistics service for
SCM and identifies the possibilities and limitations of shipping companies’ newstrategies. In conclusion, companies which can provide integrated logistic service
combining logistics consulting, advanced information system, and innovative logistics
functions will be a competent LSP and provide logistic solutions to shippers.
In a study titled “Internationalization of the airline industry: An essay on global
64

multilateral alliances of the airline industry from the viewpoint of the transaction cost
approach”, Nobuaki ENDO (Tokyo University of Marine Science and Technology)
examined global multilateral alliances of the airline industry from the viewpoint of thetransaction cost approach. Multilateral alliance contributes to the reduction oftransaction costs especially in the following ways: joint procurement and facility usage,
information sharing, the establishment of a global network, the development of a global
brand and the reduction of barriers in accessing foreign market access, among others.
On the other hand, global multilateral alliance faces difficulties such as: a fair
distribution of costs and benefits among member carriers, the dynamic development andthe sustenance of the alliance, the boundary of sharing firm-specific information withalliance members, among others. The study concludes that benefits by internalizing thetransaction cost under the global multilateral alliance exceed costs.
Yimin TAO (Fukuoka University) provided “Economic Analysis of theComprehensive Program of Physical Distribution Policies”. There have been increasing
demands not only for new corporate strategies but also for effective physicaldistribution policies to cope with changes in managerial environments. Above all,awareness for the importance of strengthening international competitiveness andestablishing a sound market system in the international physical distribution sector has
been mounting. Until today, the growth of international logistics operators has been the
result of adjusting government’s industrial policies, that include two pillars of
deregulation and improvement of social overhead capital related to physical distribution
by means of management activities that were embodied by the operators’ eager
entrepreneurship, and achieving synergy effects between them. Accordingly, the author
discusses three points, which are international physical distribution policies, among
other things, deregulation policies, and shippers’ needs as well as improvement of social
overhead capital related to physical distribution, in alignment with economic models toevaluate compatibility between the basic orientation and political measures of theComprehensive Program for Physical Distribution Policies and to find out strategic
measures for enhancing the international competitiveness of international physicaldistribution.
In a presentation titled “Logistics Paradigm: Dynamism of Logistics Managementin Global Competition”, Masato SHINOHARA (Tokai University) attempted to give an
insight into the paradigms that regulate logistics management decisions. Logistics has
traditionally focused its eye on “efficiency”. However, the result of research indicatesthat the value system in logistics is not universal. Efficiency is only one of the complex
factors that differentiate the directions of improving performances of supply chains.
65Surveys on European and Japanese logistics show clear differences between the tworegions. While the European logistics paradigm is more centred on “logicality” and“fairness”, the Japanese is rooted in “commitment to service” and “long-term
collaboration”. To recognise the existence of the differences provides a start up of a new
field of study on the direction of evolution in logistics paradigms.
The second theme was “Prospects and Problems for Global Logistics: Competition
and Complementarity between Sea Transport and Air Transport”. A summary is asfollows.
Kunio MIYASHITA (Osaka Sangyo University) presented “Global Linkage ofJapanese Export Physical Distribution Based on the Modal Choice between Container
Shipping and Air Freight Transport”. Over the last 20 years the modal choice between
container shipping and air freight transport has been strengthened in the export trade inJapan. Especially since 1994 the competitive advantage of air transport has been evident.
The study investigates why such structural change has been promoted drastically in thefield of international physical distribution. To investigate it, the study sets up a global
linkage hypothesis among US, EU and Asia, based on the expansion of product life
theory, the development of the Asian economy, the spread of deregulation policy, theprogress of information technology and the management innovation of logistics andSCM. The results demonstrate the significant difference of global logistics development
stages in the three economic regions concerned.
Katsuhiko HAYASHI (University of Marketing and Distribution Sciences) considered“Developments of Global Logistics Services by Air Cargo Carriers”. The study surveys
recent global developments of logistics services by major operators such as air carriers,
forwarders, integrators, and postal operators in detail. US integrators that had sufferedsaturation of the domestic express service market have been expanding their operations
into the European and Asian markets. Major European postal operators have diversified
into logistics markets and also have entered foreign markets through acquisitions ofintegrators since the recent gradual postal deregulations. Japanese operators that consistof traditional air carriers and forwarders are facing fierce competition with US
integrators and European postal operators in Asia including Japan. The study compares
their business strategies by using three dimensions of target cargo, contents of services,and operational regions. It also discusses some issues such as fair competition rules
among these global competitors and the integration of the Asian air cargo markets.
Hideki MURAKAMI (Kobe University) and Shuji URANISHI (Fukuya Heisei
University) consided “A Cost Analysis of U.S. System-Integrators”. The study analyzes
the cost structure of the U.S. system-integrators by estimating a translog total cost66

function. The theoretical part shows that air-originating system-integrators are currently
producinghigh-quality-high-priceproducts

at

high

cost

through“vertical

differentiation” against other 3PLs such as liner shipping companies or forwarders, but
in the long run system-integrators will have to reduce their cost, holding theirhigh-quality service unchanged. Using unbalanced panel data of 77 airlines for 10 years(n=476), the empirical part finds that only FedEx fulfills the position of“high-quality-high-price” system-integrators and other freight carriers such as UPS andDHL are on their way. The estimation result also reveals that all the US passenger andfreight carriers have reduced their costs for the recent five years, despite the cost-driving
effects of the Iraq War. This fact of “long-run-cost-reduction” is consistent with ourtheoretical analysis.
Kazuhiko

ISHIGURO(Kobe

University)presented“Multi-regional

SpatialComputable General Equilibrium Model Considering Substitutability between Maritime
Transport and Air Transport and Its Application”. Maritime transport and air transport
have not competed with each other for a long time. Since various new kinds of service
have been provided in each market, competition between them has been increasing. The
author formulates a bi-level model for analysis on such competition and its impact. The
first level model demonstrates inter-regional and intra-regional economy and trade byformulating a multi-regional computable general equilibrium model considering the twotransport modes. The second level model is formulated as a deterministic model torepresent transport mode choice behavior of shippers. The stability of the model isconfirmed by application to four regions. According to the result of the applications,maritime transport and air transport compete with each other, but the competition is still
not intensified.
In a study titled “Effects of New Airports on Hub-ness in International Air Traffic
Flows: Comparison among Major Cities with Newly Developed Airports in Asia”,
Hidenobu MATSUMOTO (Kobe University) examined international air passenger and cargoflows within Asia and analyzed the degree of “hub-ness” for Asian major cities in termsof international aviation. After an evaluation of international air network structures in
2000, the study clarifies the degree of hub-ness for seven prospective cities from 1982
to 2000 using a basic gravity model that is composed of the GDP, population, anddistance and that introduces “city-dummy variables”. The effects of new airports, which
opened over the last decade in Asia, are also analyzed on the increase of airport traffic
throughput from 1978 to 2005. The results reveal that Tokyo, Hong Kong and Singapore
are keeping their strong hub-ness in international aviation. The hub-ness of Osaka,
Seoul and Hong Kong is growing at a remarkable rate in virtue of new airports. It
67depends on cities, however, to what extent and in which categories the degree of
hub-ness is reinforced as a result of new airports.
3) The 41st annual meeting
The 41st annual meeting was held at Tokyo University of Marine Science andTechnology in October, 2007. The common subject for the symposium was Issues on
Maritime Environment and Safety. A summary is as follows.
In a study of “Maritime Safety Management and Environment Protection”, Keiji
HABARA (Kansai University) provided the practical factors to establish a safety
management system and an environment management system in risk management of themaritime world. The study shows how to avoid perils of the seas by significant
preventive measures by clarifying features of risks associated with the shipping industry
and analyzing recent typical maritime disasters caused by unusual weather patterns. The
study also examines ships’ ballast water treatment and the reduction of SOx, NOx, andCO2 from the engineering consideration for the issues of pollution by ships from theviewpoints of maritime environment protection,
Hiroyuki MINAKAMI (Kitami Kowan Sogo Kenkyujo) provided a presentation titled“Policy Trends of International Container Security and its Future Strategy”. Pet foodcontaminated by melamine, which originated in China, was found and killed many dogs
and cats in the USA in early 2007. Besides, in Panama, over 100 people have diedcaused by contaminated cold medicine. Both incidents suggested that this type ofmishap could be very serious terrorism. The USA made great efforts to prevent intrusionof substances of mass destruction. However, these intentionally contaminated foods got
into the country very easily. No prevention program such as a 24-hour rule, CSI or
Anti-Bioterrorism Act operated at this time. As a result of the analysis of international
trade logistics, in order to accomplish both efficiency and higher security, there are two
factors: one is to track data through traceability and the other is to check & confirm. To
obtain higher security, DHS released its MATTS/ACSD program to track containers andto prevent any tampering. The new proposal shows how higher security is achieved
beside MATTS/ACSD and human checkers. Also, a new proposal of a strategy to leadinternational world trade for Japan is made by the study.
Toshiro ARIMA (Nippon Kaiji Kyokai) considered “Present and Future of IACS
Common Structural Rules (CSR)”. International Ship Classification Societies (IACS)
published the Common Structural Rules (CSRs) for Tankers and Bulk Carriers for
implementation on 1 April, 2006. The study examines its background including its
history/process in relation to the Goal Based New Ship Construction Standards (GBS)
68under development at the International Maritime Organization (IMO). CSR and GBS
were initiated more or less as a result of recent maritime catastrophes including serious
marine pollution caused by oil spills from tankers such as M/V Erika (1999) and M/VPrestige (2002). The study also looks at the technical features of CSRs by comparing
them with rules developed empirically by each ship classification society. The rationaleof CSRs has come from the engineering first principle which enables them to be moretransparent to the industry. For example, clearer design loads and structural criteria are
given to deal with different failure modes such as those corresponding to yielding,buckling, ultimate and fatigue strength. Lastly, the study presents the present status andfuture problems. The maintenance of CSR consists of daily Q&A, CI, Corrigenda andRule Changes have been conducted by the dedicated technical groups within IACS
based on the unified procedure. The long-term plan of the harmonization between thetwo sets of CSRs together with improvements of the maintenance system andprocedures is under discussion within IACS so that it can provide more rational andeffective services to the industry.
4) The 42nd annual meeting
The 42nd annual meeting was held at Kansai University in October, 2008. The
common subject for the symposium was New Logistics Needs and Services in Asia. A
summary is as follows.
Toshinori NEMOTO (Hitotsubashi University) provided a study titled, “A Planning
Framework of International Freight Transportation Infrastructure: A case study on the
East-West economic corridor in the Greater Mekong Sub-region”. Multinational
companies have expanded their supply chain across Asia in order to enjoy the benefit ofFree Trade Agreements and Economic Partnership Agreements. Many have to manage
their upstream and downstream supply chain for procurement and sale, where different
kinds of materials/parts and products are distributed with different requirements ontransportation cost and lead-time. It is thus desirable to ensure operational efficiency in
not only international land but also inter-modal transportation. This includes maritime
transportation, which will have the largest modal share. However, each country has a
responsibility to plan and finance international freight transportation infrastructure
including land and/or inter-modal transportation. The problem arises when national
interests are not always consistent with those of multinational companies. The study
aims to review planning practices of international freight transportation infrastructure,and to identify the gap between the practices and expectations of multinational
companies. A proposal for international cooperative planning framework which focuses69

on benefits of less developed countries and common infrastructure financing scheme in
the region is proposed. A case study on the East-West Economic Corridor in the Greater
Mekong Sub-region is presented.
Masataka HASHIMOTO (Yokohama College of Commerce) and Katsuhiko HAYASHI(Ryutsu Keizai University) considered “The Production and Parts Procurement System
of Japanese Auto Manufacturing in the ASEAN”. Japanese auto manufacturers havebeen developing their global strategies in the ASEAN. Toyota Motor Corporation is oneof the most advanced global companies in Japan and has been trying to establish its
global production systems based on the Just-in Time (JIT) principle similar to that foundin Japan. As a result, the parts procurement systems are based on the JIT principle inorder to minimize the level of inventories. Its global procurement systems comprise
three systems: consolidation, an international cross docking system, and a local milk run
system. The study explores the characteristics of the global auto parts procurements
systems and suggests future direction and strategies based on an interview survey.
Shinji ISHIHARA (Tokai University) argued on “The Efficient Procurement
Distribution of the Automobile Industry in Thailand”. An outstanding feature ofThailand’s automobile industry is its position as a production base for export pickup
trucks. In general, the present automotive industry is inclined to implement a JIT
structure in order to reduce logistics and production costs. However, the heavy traffic
congestion and complicated customs procedures impede the supply chain process.
Crucial to this process is to put in place a logistics system smoothing customs clearance
and import the goods at a fair cost. The author focuses on the problems associated with
importing automotive supplying parts in Thailand and offer management advice to solvethese problems.
Yutaka YAMAMOTO (American President Lines) evaluated the liner services ofcontainer ships in Asia in “A Study on Liner Shipping Industry in the ASEAN”.
Statistical data suggest a high ratio of container moves in Intra-Asia trade. Singapore
plays a key role as a global hub port within the ASEAN. For example, the calling rate at
the port of Singapore is 5 carriers and 177 services. However, the issue of
under-capacity arises especially during the peak when the number of vessels calling at
Singapore exceeds capacity. The study examines the reactions by carriers such as
Maersk Line and Evergreen and suggests solutions to resolve the issue.
5) The 43rd annual meeting
The 43rd annual meeting was held at Hitotsubashi University in October, 2009.
The common subject for the symposium was Presence of China in Global Logistics. A
70summary is as follows.
Hiroko AMENO (Kansai University) considered “East Asia Economic Area andJapanese Logistics System”. After the global financial crisis of 2008-2009, the Chinese
economy became a much bigger player in the global marketplace. Particularly, theJapanese economy has become increasingly more dependent on the Chinese market.
The increasing presence of China in the global economy is changing the structure of
trade and logistics in East Asia. The study presents some case studies of these structuralchanges in East Asia that may affect the strategic management of enterprises andgovernment policy and points out some concepts and approaches that need to bereviewed to formulate a strategic logistics policy.
Ippei MACHIDA (The Nittsu Research Institute and Consulting) argued on“Accelerating

development

of

the

Chinesedomestic

logistics

infrastructureaccompanied with expansion to neighbour countries”. China is a major market forJapanese companies and their exports to third nations via China are increasing. One
factor positively affecting this growth is the improvement of the Chinese
domestic/international logistics infrastructure and the expansion of the transportation
system. Large investments by central and local governments in domestic logistics
infrastructure have resulted in increased domestic cargo flow. The expansion of the landroutes accessing neighbour countries has led to the expansion of international trade.
Areas yet to be improved include entry and through-transportation modes. Continued
investment in the expansion of infrastructure has become an important factor affecting
China’s economic growth.
Mariko FUTAMURA (Tokyo Woman’s Christian University) presented a study titled“The Activity of a State-owned Logistics Company in China ─ COSCO Logistics’ 3PL
Business”. In China, active domestic and foreign demands create large volumes of
distribution and now the Chinese Government tries to handle them. Physical distribution(or logistics) is one of the most important issues in the Chinese economy. Chinese
logistics companies are categorized into three types of companies, including
state-owned companies, Chinese private companies and foreign companies. The study
focuses on the biggest Chinese state-owned shipping company, the China Ocean
Shipping Company Group (Cosco) and its Cosco Logistics. When shippers use 3PL
services, they have to make some additional payment. But they expect some
“Advantages” from a 3PL provider. COSCO Logistics has some advantages as a 3PL
provider. In China, political structure controls the economy, so a state-owned company
has some political advantages over the other types of logistics companies. For example,
they can constantly get jobs from their government so, relatively, they are financially71stable. Furthermore, they can easily gain some political privileges and create networks
in the whole country etc. But from the microeconomics perspective, it is pointed outthat public companies involve some inefficiency. COSCO possesses some advantages as
a 3PL provider.
6) The 44th annual meeting
The 44th annual meeting was held at Kyushu University in October, 2010. The
common subject for the symposium was Issues on the Environment Protection in Global
Logistics. A summary is as follows.
Seijiro MORIMOTO, Jimyoung LEE, and Takuma MATSUDA (Japan Maritime Center)argued on “Market-Based Measures to Reduce CO2 Emissions from International
Shipping”. Global regulatory frameworks to reduce CO2 emissions from international
shipping have been under consideration at the International Maritime Organization(IMO) and discussion relating to Market-Based Measures (MBM) such as fuel levies
and emission trading schemes has accelerated. The study introduces the current debate
at the IMO and raises specific issues that need be considered in the on-going debate on
MBM. It specifically argues that regulation on total emissions from international
shipping would be inappropriate and cost-effectiveness of MBM should be evaluatedbased on the level of within-sector reduction rather than offsetting.
Masataka SHIOZAKI and Hiroshi ISHIHARA (Ministry of Land, Infrastructure,
Transport and Tourism) took up “Grappling with Global Warming in Japan’s Ports &Harbors Sector”. The Council on Transport Policy, advisory body to the Minister ofLand, Infrastructure, Transport and Tourism (MLIT), submitted its report “Strategic
Scheme for Port and Harbor Policy to Adapt and Alleviate Climate Change Caused by
Global Warming” to the Minister on 25 March 2009. MLIT has been taking various
steps to ensure that the measures proposed in the council report become a reality. The
study focuses on alleviation measures that should be taken in Japanese ports to copewith global warming and energy conservation.
Tamio KAWASHIMA (Nippon Yusen Kaisha) argued on “Reduction of GHG Emission
from the View Point of Ship Owner/Operators”. CO2 emission from international
shipping was 870 million tons, which accounted for 3% of global emissions in 2007. In
addition, CO2 emissions from international shipping in 2050 are estimated at more than
three times that figure if there was no countermeasure. This means that economic
impacts upon the management of international shipping will become bigger and bigger.
In order to reduce CO2 emissions, there are a lot of measures including innovations forships, improvements of operations, revolutions of logistics, reforms of infrastructures72and new incentive schemes/rules. The fields are so huge and complicated that not only
details of each element but also relationships between each element should beresearched. Therefore, collaboration and cooperation among logistics, shipping,shipbuilding and other sectors are required to get the best solution.
(Nobuaki ENDO, Tokyo University of Marine Science and Technology,
Tomio TAKADA, Ryutsu Keizai University)73THE SOCIETY FOR THE ECONOMIC STUDIES OF SECURITIES
1. General view
The Society for the Economic Studies of Securities was founded in 1966, aiming tostudy and research the theory, the history, the policy and other matters concerning
securities, and to promote the development of learning and economics. To achieve thepurpose, this society holds a biannual national conference, and departmental meetings
are held irregularly in various places.
In the national conference, a common subject based on the current securities
market and new knowledge in academic circles is selected. Generally, in a common
subject, 3-4 reporters discuss a problem with which the Japanese securities market isconfronted. In the conference, there are a lot of topics also presented on free themes.
Usually, the national conference in spring is held in the Tokyo district, and thegathering in autumn is held in regions other than the Tokyo district.
The Society issues Annals of Society for the Economic Studies of Securities. The
reports announced at the national conference or at departmental meetings, academic
theses and research notes are included in the annals. A severe screening by two or morereferees is done before publishing any academic thesis in the annual report, to maintaina high qualitative level. Besides this, we introduce the Society’s latest activities in thismagazine. Joji KOBAYASHI (Aoyama Gakuin University) reported on the last activities
from 1966 to 1995, Hiroshi FUKUMITSU (Seijo University) then reported about thesituation until 2001, and for the latest report Hisahiko SAITO (Chiba University ofCommerce) introduced the situation until 2007 in issue No.28 (2008).
Moreover, the society issued A Short History of the Society for 30 Years in 1996.
2. Organization
The Society is composed of researchers who are concerned with the economic
studies of securities. Concretely, members are mainly academics, with economists,
lawyers, security analysts, and the business staff who work for financial institutions also
included. Recently, because of a tendency to move from indirect financing to direct
finance in Japan, the business persons joining from other than financial institutions haveincreased noticeably. Supporters of the business of the Society are accepted as special
members. Special members are divided into corporations and individuals. Regularmembers numbered 587 as of the end of March, 2012, individual special members eight
persons, and corporate special members 13 groups.
The Society is conveniently divided into five regions named Hokkaido, Kanto,
Chubu, Kansai and Kyushu, and each member belongs to one of them. To manage the74Society smoothly, it elects officials from these five regions. The board of directors
consists of one representative director, five managing directors, 11 directors, two
accounting inspectors, and about 20 managers. The present representative director is
Kiyoshi NIKAMI (Shiga University). Moreover, to answer consultation by the board of
directors, a few advisers are appointed.
The Society’s office is housed by the Japan Securities Research Institute in Tokyo,
and branches are set up in Kansai, Kyushu, Chubu, and Hokkaido.
3. Basic activities since establishment of the Society and its evolution
The establishment of the Society was just after a so-called security recession.
Therefore, the construction of a research base on the financial capital market wasrecognized as significant in to national economy.
When the Japanese economy shifted from high growth to stable growth with the oilcrisis, a shift to a gradual stock prices growth was seen, though the security market in
Japan after the security recession did return to an expansion mode again. However, theasset-inflated economy expanded at the middle of the 1980’s, and stock prices also
advanced to extremely high levels. The securities market in Japan suffered along withthe bursting of the bubble economy on entering the 1990’s. Structural reform was
executed to break down such a situation, and liberalization and globalization progressedin the Japanese economy. However, actually there has been prolonged stagnation called“the lost decade”. International financial problems such as an Asian monetary crisis(1997) and the failure of LTCM (Long Term Capital Management) (1998) happened
frequently in the latter half of the 1990’s. Entering the 2000’s, the Lehman shock (2008),
the subprime loan problem of the United States and the aggravation of sovereign risk
symbolized in the Greek crisis (after 2010) hit hard on the international capital market.
These environmental transformations respond to various problems concerning thesecurities markets such as complicated securitized financial instruments, the active useof derivatives, the spread of a ranking system and the demutualization of stock
exchanges. The Corporate Law and the Financial Instruments and Exchange Act wereenacted, so new countermeasures are required for each participator in the securities
market.
For the changes mentioned above, in the Society, various current problems aretaken up as subjects in the national conference, and practical study results areannounced outside of the Society.
4．Activities after 2008
(1) 2008 (the 69th and the 70th national conference)75

- The 69th Conference
At the 69th national conference, The Perspective on Financial Market Reforms inJapan was held as the common subject at Waseda University. Atsushi SAITOH (Tokyo
Stock Exchange group) gave a special lecture on the “The Direction of Reforms in
Financial and the Capital Markets, and the Role of Securities Exchanges”, after which a
research report was given by three academics.
First of all, Tatsuo UEMURA (Waseda University) reported on “Financial and CapitalMarket Reform, and the Corporate Law System”, insisting on fundamental review ofCorporate Law, clarifying the concept of the public company as a joint stock company
funded through the securities market, and correcting the vagueness of the listedcompany concept under the Corporate Law. Moreover, a problem for Japan is that the
Corporate Law is regarded as taking priority over voluntary restraint by institutions
such as exchanges, and in conclusion if there were no Public Company Law, the rules of
the Tokyo Stock Exchange would have to substitute for it.
Next, Hideki KANDA (The University of Tokyo) presented the significance offollowing two points, in his report titled “The Financial Instruments and Exchange Act”,
viz. (1) a part of the listed company legislation is included in it, (2) with restrictions
imposed across institutions, surcharges and no-fault liability compensation are included.
On the other hand, he pointed out a problem that the accountability easily becomes
perfunctory because understanding of this law is shallow in general, and there is a lackof confidence between the financial institutions and the regulatory authority. Kanda
insisted that it is necessary to let the world to know the fact through showing that
“insubstantial business” also contributes to “substantial business”, though there is atendency to disregard finance as “insubstantial business” in Japan.
Takao SAGA (Japan Securities Research Institute) commented on the “Finance andCapital Market Competitive Edge Reinforced Plan” that the Financial Services Agency
had made public at the end of 2007. First of all, he evaluated that a basic pillar of thisplan is review (better regulation) of the regulatory environment. Then, Saga explained
based on the above as follows: the events seen in recent reforms of Japan, and results ofthe security mediation industry are insufficient, which contrasts with the growth ofindependent investment advisers in the United States. In addition, he pointed out that itis necessary to promote the integration of emerging markets in terms of reform related
to exchange, and it is expected that a review of the restrictions (firewall) among thebusiness sectors will be made.
- The 70th Conference
At the 70th national conference, Financial Institutions under a Market-oriented
Financial System was held as the common subject at Shiga University. Here, the76

following four people were reporting.
Hajime TAKATA（Mizuho Securities）reported on “The Subprime Problems and theCredit Markets in Japan”. There, he pointed out the great expansion of the world’s
money markets estranged from the real economy, so that it becomes impossible todefine them in terms of the past established concept of banks and security firms becauseof the progress in unification of the market. Takata insisted that it is difficult to respondto such a situation from the approach of traditional financial regulation, and that areview of the restriction is required. Moreover, he pointed out the return of an aspect ofcredit mediation by bank as re-intermediation.
In the report of Kazumasa NIIMI (The Japan Research Institute, Ltd.), entitled“Securities Companies under the Market-oriented Financial System”, he evaluated therole of the securities business which has been played under an industrial financial model(capital apportion model mainly depending on bank deposits and lending) that does not
use the market and the characterized Japanese financial system after World War Ⅱ.
Then he indicated the process of changes and raised future problems in Japanese
securities business. According to the conventional industrial financing model, thecorporate bond market had practically ceased to function, and as for earnings of the
security firms, the dependency to the brokerage commission was large. However, Niimi
insisted that the security business underwent such environmental transformation after
the burst of the bubble as to need to reinforce information productivity and toreconstruct its function for sharing within other financial business like banks andinsurances.
Yasuhiro KAWAGUCHI (Doshisha University) reported on the theme of “Regulation
under Market Based Financial System”, and insisted that it is necessary to obtain themarket participant’s confidence for the establishment of a financial system which
operates redistribution and risk diversification by use of market mechanisms. Then heasserted that three points in legal regulation are important, viz.（1） problems ofeffectivity based self-restraint against official restraint grounded in the Financial
Instruments and Exchange Act, (2) problems of enforcement, and (3) enactment of the
Financial Service Act treated as an assignment for the future. He stated a further
development of legal systems also to be necessary for the protection of investors.
Hisashi OHGAKI (Ritsumeikan University) reported on “Rediscovery of Financial
Intermediation”, and pointed out that the traditional model of the United States
investment bank came to an end with the matter of subprime loans, and it entered thestage where it searches for a new business model. Furthermore he proposed a newinvestment bank model. This is located with other indirect financing that is connectedwith the past and indirect finance to the market. The main business is discovery and77

fulfillment of finance needs for investors, and he illustrated the approach of the joint
investment type to aim at “The cowbell effect” by making good use of an advanced
screening skill. This will be located with other indirect financial institutions that areconnected with the past and indirect finance to the market.
(2) 2009 (the 71st and the 72nd national conference)- The 71st Conference
At the 71st national conference, Global Financial Crisis and Securities Market in
Japan was held as a common subject at Kokushikan University. At this conference,
Toyoo GYOHTEN (Institute for International Monetary Affairs) presented the keynote
lecture entitled “Global Finance Crisis and Japanese Economy”, and then three people
made research presentations.
First, Kazuto UCHIDA (Bank of Tokyo-Mitsubishi UFJ) discussed the factors of the
global financial crisis, the countermeasures taken to the crisis and the view of thebanking and the security business after the crisis, by using abundant data on the themeof “Global Financial Crisis-Reconstructing of Banking and Securities Business Model”.
Among them, from the point of view of “Restructuring of Banking and Securities
Business”, he pointed out the necessity of (1) a CIB（Corporate Investment Banking）
Model, (2) fostering the Japanese credit market, and (3) reinforcement of action
corresponding to the Asian securities market.
Next, in a report entitled “Global Financial Crisis Seen from the Business Site”,
Takumi SHIBATA (Nomura Holdings, Inc.) divided the global financial crisis roughly into
two, and tried analyzing. First, “Banking CrisisⅠ” of 2007-2008 was a new liquidity
crunch that attacked the world on a rapid and large scale because of its harm to trading
accounts, and Shibata pointed out that to prevent a re-occurrence, restrictions on
behavior would be the main means of support. As for “Banking CrisisⅡ” after 2009,
Shibata interpreted it as an ongoing crisis in which bad loans undermine the loanaccount, and he showed misgivings for the attitude where the supervisory authorities ineach country temporize to the national assembly.
Finally, in a report entitled “Global Economic Crisis”, Shunpei TAKEMORI (Keio
University) raised the problem according to two timely themes. First, he had compared
the stress tests executed in the United States, after which he evaluated PPIP
（ Public-Private Investment Programs) by which the US government purchases
low-liquidity property from financial institutions. Secondly, Takemori criticized theposture that the Irish government tried to get over the development of the crisis by tax
increases and cuts in expenditure, and he discussed whether the movement of the rise oflong yields seen in Britain and the United States means the development of private risk
into sovereign risk.
78

- The 72nd Conference
At the 72nd national conference, Restructuring of the Financial Industry andInvestment Banking Business was held as a common subject at Matsuyama University.
Yasuyuki KURATSU (RP Tech) reported from business observations since 1980, in“Transition of Investment Bank’s Business and Management”. He pointed out that
because the economic model of an indirect financial overemphasis had boundaries, therecurrence of the low leverage strategy is seen in the investment bank business that isbased on reflection of this management crisis. Moreover, he anticipated that they would
pursue business chances in the emerging countries since the long slump of the advanced
countries’ economies.
Atsushi NIIGATA (Mizuho Research Institute) reported on the theme of “The
Challenges for the Major Financial Institutions of Europe and the U.S. in the
Post-Subprime Era”. First, he surveyed the business results of major occidental financial
institutions since the subprime crisis. Then he pointed out the future problems, viz.
disposition of bank nonperforming loans in the short-term, expansion of opportunities
for earnings and growth in the middle-term, and a continuous business model in thelong-term. He insisted on organic unity of the commercial bank function, the investmentbank function, and the asset management function as a key to survival, which depended
on whether it is able to answer various capital demands.
Koetsu AIZAWA (Saitama University) reported on “Financial Crisis in WesternCountries and Financial Reorganization”. He arranged the progress of the bubble inadvanced countries according to types, and examined the burst of the economic bubble
process after 2008. Based on the above, Aizawa introduced the approach of eachcountry aiming at strengthening the financial regulations.
(3) 2010 (the 73rd and the 74th national conference)- The 73rd Conference
At the 73rd national conference, Financial Reregulation and Its Impact on the
Security Markets was held as a common subject at Meiji University. In this rally,
Kouhei OTSUKA (Senior Vice Minister of Cabinet Office) lectured on “Current Situations
and Issues in macroeconomic policy” as a special speech.
Kenji KAWAMURA (Kanto Gakuin University) reported on “Financial regulation
reform of Britain and the United States”. In this report, the current approach of the
Britain-U.S. governments and the national assemblies was discussed in detail from three
viewpoints: ① the structure of financial regulation, ② contents of financial
regulation and ③ corporate governance. He insisted that knowing which reform ofwhich financial regulation would be advanced in Britain and the U.S., where thefinancial crisis had spread, would serve very much as a reference in considering what79

the financial regulations for Japan on that should be.
Naohiko MATSUO (Nishimura & Asahi) reported on “Response of Japan to theTightening Financial Regulation”. Matsuo indicated that a Japanese financial system
intends to secure an “optimal balance” of “fairness” and “efficiency”, and heemphasized that the validity of the Japanese restriction system should be evaluatedbecause the system difference from the United States was maintained ahead of thisglobal financial crisis. Moreover, he insisted on the importance that Japan has wisdom
not displayed in the financial regulation of U.S. or Britain on one side of international
cooperation, and concluded that present financial regulation reform is able to evaluate
the basic trend in such directionality.
Takashi KOUZU (Bank of Japan), in a report on “Recent International Discussion
around Bank Regulation and Supervision”, pointed out the current international
financial crisis and the Japanese bubble in the 1980s have much in common. And it isdifficult to grasp the risk sufficiently after all, though the frame of the restriction has
been considered up to now in the tendency to grasp the risk precisely in Japan.
Therefore, there appeared a point of view that the direct restriction is necessary on thescale and the range of bank business, so he pointed out that there are big differencesfrom a traditional restriction philosophy.
- The 74th Conference
The common subject of the 74th national conference was SME (Small and Medium
Enterprise) Finance and the Modernization of Industrial Structure ― How tostrengthen the SME Finance in Japan and Asia, and it was held at Hachinohe University.
Naoyuki YOSHINO (Keio University) presented “Current State of the Small
Business Finance of Japan and Asia and Analysis of Data on Small and Medium-sizedEnterprises” as the keynote address. First, he showed the importance of the small andmedium-sized enterprises to GDP, employment and corporate numbers, from the data ofJapan and Asian nations. Moreover, concerning cash contributions to them, he proposeda government role in providing public finance as one option during times of hardship,
while in normal times private finance could be reverted to. Then Yoshino suggested thatthe offer of risk money to the provinces should be good through “Investment Trusts”
that can already be sold at a lot of financial institutions over the counter.
Kentaro OYAMA (Tohoku New Business Conference) reported on “The Activationof the Tohoku Economy and the Role of a New Tohoku Business Conference” as thetheme. Oyama proposed the activation of the Tohoku economy with its advanced aging
and depopulation by the creation of new essentials for business.
Takashi ONO (Tohoku Local Credit Union Society) reported on “Activation of
Small and Medium-sized Enterprises and the Role of Regional Financial Institutions”.
80The shinkin bank traditionally has accomplished a contribution through support to small
and medium-sized enterprises and activation of the regional economy. However, hepointed out that the necessity of measures to deal with problems that a single credit
bank could not solve alone. In this respect, Ono reported that Aomori prefecture had
established an “Aomori branch office forindustry-university-government
collaboration” which is a cooperative project of the three units, and is a members’organization in which shinkin banks in Aomori work together, where they hold study
meetings to improve management ability and visits by specialists to companies to solve
management problems.
(4) 2011 (the 75th and the 76th national conference)- The 75th Conference
At the 75th national conference, Various Problems Surrounding Sovereign Bonds
was held as a common subject at Nihon University.
Toshiki TOMITA (Chuo University) reported on “Tenability and the Government
Bond Market for Finance”. The interest rate of Greek government bonds rose
remarkably in May, 2010. Since the current loosening of budget discipline and the aging
society must threaten the financial stability of the EU, member countries are now
viewing a common framework for the next 50 years. Also in Japan, trial calculations
have been made by the Fiscal System Council since fiscal year 2007, using the same
method as the European Commission: neither the policy nor the system changed, thoughdemographic changes are considered. He commented on the evaluation of the market tothese.
Yukio EGAWA (Shinsei Securities) reported on “A Consideration of the Relation
between the Source of the Credit Capability of United States Sovereign Bonds andFinancial Problems”. The outstanding indebtedness of the U.S. government exceeding
14 trillion dollars has expanded to the level equal to nominal GDP. In addition, there areabout 10 trillion dollars from debt issuance and the guarantee balance for two housing
loan corporation companies under official control, and 3 trillion dollars of municipal
bonds, the total of which means that the outstanding obligation of the United Statessurpasses Japan and is the world's largest. He discussed the reasons why U.S. goverment
bonds have maintained their high credit capability, in spite of those figures.
Hidenobu OKUDA (Hitotsubashi University) reported on “Current Situations andIssues of the Sovereign Bond Market in Asian Nations”. At present, no serious problem
has been actualized in the Sovereign bond market in Asian nations. However, there arecountries where there is anxiety about the tenability of national government debts, and alarge amount of national public debt possession by financial institutions causes
disintermediation of private capital. In addition, there is danger of expansion of foreign81capital inflow, making macro finance unstable. Okuda insisted that it is a problem
whether each country’s government could develop its bond market while controllingthese problems.
Takero DOI (Keio University) reported on “Japanese Government Debt after theGreat Earthquake”. After the Great Eastern Japan Earthquake, large-scale fiscal
expenditure is needed for revival in the future, though the national government debts ofJapan have kept increasing cumulatively. If a large amount of government bonds wereadditionally issued for them, the tenability of the finance of Japan might be in doubt. In
this report, from the point of view of desirable fiscal management, Doi described asuggestion for simultaneous achievement of fiscal health as well as stability of fiscal
resources related to earthquake disaster reconstruction and social security benefits.
- The 76th Conference
The common subject of the 76th national conference was Stock Price Formationof Japan - Why Does the Long Slump Continue?, and was held at Kyoto Sangyo
University.
Linyu ZHAI (Osaka City University) reported on the title of “Cause of Stock Prices’
Long-Term Depression ─ Investors’ Profits are Disregarded by Enterprise andSecurities Industry”, and pointed out the inherent problem of low regard for stocks in
the Japanese stock market. Accordingly, since of all the stakeholders in an enterprise it
is stockholders who are treated with the lowest priority, their profit is not highly
regarded in Japan. Enterprises are indifferent to increases in corporate value, and the
securities industry gives priority to its own profit at the expense of the investor.
Households don’t invest in stock because they distrust enterprises and the securities
industry. He insisted that it was a cause of the fall in stock prices.
Yoshiko SATO (Japan Investor Relations Association) reported on “Stock Price
Formation and IR (Investor Relations) Activity in Enterprises ─ Outlook for Individual
Investors”. Sato indicated that IR activity from the 1990’s to the beginning of the 2000’s
solicited analysts and investors by detailed information disclosure, and contributed tostock prices formation. And she pointed out that IR activity that takes the investor’s
viewpoint on management has a possibility of contributing to the market through the
improvement of corporate value.
Hidetaka KAWAKITA (Kyoto University) reported on the theme “Slump in Stock
Prices of Japan Seen from the Investors”. He insisted that the long term stock pricedepression in Japan is caused by enterprises. When the risk premium that the investor
demands is the premise, the enterprise cannot cover the capital cost. Kawakita pointed
out that in a word, the average large enterprise in Japan has only been able to dobusiness that destroys its own value. He also mentioned the problem that investors, for82their own wider index management, include the stocks of poorly financed companies,
which as a result has helped those enterprises to survive.
Jun UNO (Waseda University) reported on the theme of “Accelerated Velocity of
Turnover and Impact on Liquidity ─Verification of Tokyo Stock Exchange Arrowhead”,
and considered the new trading system “Arrowhead” that had been introduced in theTokyo Stock Exchange in January, 2010. He suggested that, while the possibility ofhigh-speed trading through the PTS (Private Trading System) has enabled greater
activity, according to a comparison with the Tokyo Stock Exchange Arrowhead, rather
than an effect of dividing liquidity, a synergy effect has been demonstrated. In addition,
the meaning of the competition among stock exchanges was described, and thenecessity of a reexamination of what the “best execution obligation” should be in theJapanese stock market was emphasized.
5. View of the future
As mentioned above, timely themes are selected concerning important changes inthe domestic and overseas economic environment and the financial capital market, andthe discussions have been held at the Society for the Economic Studies of Securities.
Though the details have not been mentioned for reasons of space, usuallyattempts are made to deepen and to expand the range of discussions, inquestion-and-answer sessions in workshops, in the common subject of the national
conference. As for this academic society, each member will select his or her own
subjects and the study results will be widely distribution to society.
In the 77th national conference in 2012, in the common subject of Euro Crisis andthe Securities Market, the problem of a financial international capital market was
discussed. The proceedings will be reported at the next opportunity.
Hajime TAKAHASHI (Sakushin Gakuin University)83THE SOCIETY FOR THE STUDY OF SOCIAL POLICY (SSSP)Introduction
Social policy has attracted more public attention in recent years, as Japanesesociety has experienced a succession of very difficult periods. While new economic
powers have emerged in the neighbouring East Asia regions, the Japanese economy has
failed to recover from long recession. Also, Japanese society is rapidly ageing andpublic spending for its older population has expanded every year. In addition, social
protection for people of working age, who are often in unstable employment or even
unemployment, has become a serious issue for policymakers. Then, the earthquake andtsunami disaster which hit the North East region, followed by the Fukushima nuclear
power plant incident in March 2011, have made the situation worse.
It is also important to note that Japan has been in political crisis. Japan had asignificant political change in the general election of 2009, but three years on, theexcitement of political change has already gone and been replaced by public disillusion
over politics, because the current government has failed to deliver the promises which
they made at the election. The failure of policy deliveries and implementations can beespecially observed in social policy, such as public pension reform and the introductionof a new universal child benefit. It seems certain that these social policy programmes
will be major issues at the next general election, which should take place by 2013.
The Society for the Study of Social Policy (Shakai Seisaku Gakkai) is one of theoldest academic communities in Japan. The organisation consists of various academics
and researchers in fields including economics, politics and sociology. The membershiphas increased steadily in recent years as young academics and post-graduate students
have joined, which can be understood as increasing general interests in social issues.
Traditionally, labour and trade unions, and other work issues are major research topics
in the SSSP community. These issues are still important and have attracted many
researches. In addition, researches in social security and social services have become
second core topics for the SSSP. This paper will summarise recent research trends anddevelopments in the SSSP.
1. Work and Labour Issues
The changes and deregulation in the labour market in the early 2000s createdvarious social problems such as low wages, long and unstable working hours, deathfrom overwork and social divisions. As Japanese social protection programmes are
based on employment status, the labour market policy has affected public pension and84

public health insurance as well.
The SSSP has always focused on these issues at its annual conferences as well as inindividual contributions of research papers for the Society’s journals. ENDO (2009)
pointed out that there have been four policy directions existing in the labour policy;
deregulation, gender equality, individualisation of labour conflicts and solution, andreducing social division. IGARASHI (2009) summarised how the public has realised thatthe deregulation of labour market under the strong neo-liberalism has created more
problems rather than any solution for the Japanese economy, focussing on the actors inpolicy making such as the trade unions, the Ministry of Labour and Welfare, and the
media.
The low wage economy and the issue of the working poor have attracted strong
attention amongst the members of the SSSP. Poverty has become visible and publicconcerns are directed to the poverty among those who are under retirement age. It isclear that the change of labour market policy and deregulation, the end of Japanesemanagement and lifetime employment are behind these issues. While GOTOH (2010)
argued that the insufficient social security system worsens the problem, GOKA (2010)
pointed out that the working style and employment system should be focussed on as
well as the wage level, because death from overwork has become serious. The victims
are not only living with low income but also are unprotected and isolated.
On the other hand, it has been argued that traditional trade unions have lost theirpower to protect their members. It is also important to note that traditionally Japanesetrade unions are organised as company/enterprise unions and membership is often
limited to full-time workers. The vast majority of the working poor are excluded fromthe main stream of the trade union movement. WOO (2010) argues that status
gaps/division between full-time and part time workers should be filled in and theseniority-based wage system needs to be abolished. TAKASU (2010) points out that a new
trade union movement, which involves non-regular workers in local level, is developing.
The future of the trade union movement would depend on these grass-roots activities.
2. Social Security System
The most debated issues in Japanese social policy are on its social security system.
As the elderly population is increasing, the public pension and public health insurance
systems have been in crisis.
It is important to note that the social security crisis has several backgrounds. Job
security and workers’, status are directly linked to the Japanese social insurance system
which consisted of three major schemes formed by occupational group: a scheme for85

employed workers in private enterprise, one for public sector workers, and one forothers including part-time workers and the self-employed. The former two schemes
offer a higher level of security than the latter, in return for which the employers are
required to contribute a half of insurance costs. Deregulation in the labour market andthe long recession since the early 21st century put more workers in less security under
the LDP government. Then the current DPJ government tried to offer more security, byextending its coverage for part-time workers who had been originally excluded frommembership of the social insurance scheme for full-time employed workers. But thebusiness and employers associations have showed strong opposition, as extending social
security schemes would mean more costs for them, and the government has been forced
to compromise, so that a much smaller number of part-time workers are newly included
into the generous schemes than the original government reform plan. If people cannot
receive sufficient security from the social insurance system, then they will have to relyon the non-contributory public assistance programme (the Seikatsu Hogo system). The
number of recipients of the public assistance programme has rapidly increased in recent
years.
Political consensus over the social security system has been lost gradually. While
the financial cost to sustain these systems is increasing, the working age population has
faced difficulties to manage their own household budgets under the long recession.
Wages have been cut and job security has gone, but they are required to make more
contributions and taxes to support the older people who are often regarded as enjoying
their retirement life. The division in population structure and the discontent of those ofworking age has created a political crisis over social security. Similarly, tax payers havebecome unhappy with public assistance, which is often criticised as encouraging adependency culture.
There have been clear differences over the view of government’s roles in Japanesepolitics. While supporters of neo-liberal economics insist on a limited role of thegovernment to tackle social problems and call for more market oriented reform in social
security system, the opponents have pointed out that social division is increased insociety under a neo-liberal government and call for more redistribution.
The SSSP’s annual conferences and journals have attracted many papers over thesesocial security issues. The 115th conference (2007) organised a symposium on thepolitical economy of social security reform, which reviewed the neo-liberal reform
conducted in the early 2000s and discussed future direction.
It is also worth noting that the minimum standards of living have become a major
issue in recent years. It is often pointed out that the provision level of Japanese public
86

assistance is relatively more generous than in the other developed nations. As thederegulation of the labour market led to increasing low-income households with
part-time jobs, the linkages and differences between wages/benefits have been debatedin terms of work incentives for the benefit recipients as well as what is a decent wage
and work. The SSSP annual conference in 2009 tried to redefine the relations between
the national/regional minimum wages and the level of public assistance. IWATA (2010)
suggested that the contents of decent work are more important than the level ofwage/provision, and in particular working hours would be a key to clarify the relation
between security through decent wages and that through the social security system.
YAMADA (2010) argued, with his empirical cross-national studies, that the Japanesepublic assistance level is not as high as it is thought, if housing benefits or tax-credit
programmes in other nations are taken into account. Also, Yamada pointed out that thelevel of minimum wages and public assistance is very close and the public pension islower than public assistance in Japan. In addition, the wages and minimum income
standards (MIS) are determined by the level of public assistance in Japan, which is
unique in an international context.
3. Work and Welfare/work and health
While the long term recession discouraged new employment and deregulation in
the labour market produced limited stable jobs, Japan has had serious youth
unemployment/poverty problems in recent years. Welfare to work/workfare
programmes are also recent policy trends, as those on benefit of working age are
increasing and causing financial pressures on the Japanese economy as well as social
exclusion/reproduction of poverty. Also more researches on skills development andtraining programmes for workers/jobseekers are focussed on.
These work training programmes and policies on work incentives might help toimprove the poverty situation, but unless stable and sufficient jobs are available, theefforts in job training do not always bring a visible improvement in the labour market
situation. It is important to address not only the job availability but also theircondition/decency.
Working conditions are a serious problem in recent years. Japan is proud of its own
record in health: lower infant mortality rate and longer life expectancy than in otherdeveloped countries. But many people are now losing confidence in the social situationin health. The difficult social and economic environments have affected people’s healthas well as their income. It is a well-known fact that Japan has the largest number ofsuicide cases in the world; over 30,000 suicides recorded every year since 1998. It is not87

difficult to understand that increasing unemployment and widespread poverty are in the
background of this tragic situation, but it is also important to note that worsening
working conditions, long working hours and increasing pressures imposed on theindividual employed workers have contributed to mental health problems in Japanese
workplaces. It should also be recognised that there has been a wide social division in
health. The SSSP conference focussed on health issues in 2011. KONDO (2012) pointed
out how socio-economic inequality affected the nation’s health and called for moresocial policy intervention at the individual and social level.
4. International comparison and East Asia
Recently, more and more researchers are interested in East Asia, such as Korea andChina, following their rapid economic development. Exchanges amongst researchers inthese nations are increasing every year and some Japanese social policy programmes
have provided a model for the other nation, for example public long-term careinsurance.
It would be interesting to analyse how the Japanese welfare model can be definedin the context of East Asia. Although there have been many comparative researches, inparticular, since Esping-Andersen’s three regime theory in the 1990s, most of themfocussed on the western European nation. A comparative study of social policy in East
Asia will contribute to further development in this academic field. The SSSP has
already organised various conferences and published its research outcomes (SSSP
2006); more researches will appear in the future.
5. Future roles of SSSP
There is no doubt that addressing these issues in social policy would be vital forthe future of Japanese society. Not only demographic changes but also social andeconomic changes, including the labour market, are all creating serious problems suchas poverty, social care, health, and work/family life reconciliation. Social policy is a key
to overcome these problems.
Further researches are expected in designing complete social security programmes.
And policy evaluation is essential to restructuring the current system. The problem inJapanese social policies is that new policy initiatives are often brought in without
sufficient evaluation of old policies and systems.
In the real world of Japanese politics, a total package of system reforms in tax,
work, and benefits is on the agenda. Although many researchers in the SSSP havealready addressed this issue and proposed a plan for restructuring, further efforts are88required in future.
References (all published in Japanese)Endo, K (2009) “Transformation of Employment and Labor Policy: An Overview andResearch Issues”, Social Policy and Labor Studies Vol.1, No.3, pp.5-14
Gotoh, M (2010) “Japanese-Style Employment and the Working Poor in Contemporary
Japan”, Social Policy and Labor Studies Vol.1, No.4 pp.14-28
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