No.10
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日本経済学会連合

1990

INFORMATION BULLETIN OF
THE UNION OF NATIONALECONOMIC ASSOCIATIONS IN JAPANThis Information Bulletin is designed to serve as an introduction of the academic activi­
ties of member associations of the Union to the economic societies throughout theworld. The copies will be distributed by the secretariat of the Union to libraries and in­stitutions in other countries whose names have been given by the member associationsof the Union.
Managing Editors
Heita KAWAKATSU, Waseda University
Kyoichi FUTAGAMI, Waseda University
Masahiro SUGIYAMA, Waseda University
Hiroaki AOKI, Senshu University
Yoshio OKUDA, Chuo University
Satoru TAKAYANAGI, University ofTsukuba
Shusaku YAMAYA, Toyo University

Mikoto USUI, University of Tsukuba
Koichi TADENUMA, Hitotsubashi University
Masao NAKANISHI, Kwansei Gakuin
University
Masatoshi KAWANABE, St. Paul's University
Takatada IMAIZUMI, Yokohama National
University

Editorial Committee
Tatsuya SAKAMOTO, Keio University
Katsuto TANAKA, Hitotsubashi
University
Koichi ENDO, Nihon University
Manabu MINE, Hosei University
Terushi HARA, Waseda University
Yasuo KAWASHIMA, Meiji Gakuin
University
Kiyoshi KASAHARA, St. Paul's University

Kiyomitsu ARAI, Waseda University
Junko NISHIKAWA, Tokyo Metropolitan
College of Commerce
Michihiro OH YAMA, Keio University
Masanori KOGA, Hitotsubashi University
Yoshinori SUZUKI, Kanagawa University
Ryoji YAMADA, Tokyo University of
Economics

Directors of the Union
President
Masao UNO, Waseda University
Masao HAMABAYASHI, Yachiyo International University
Takashi NEGISHI, The University of Tokyo
Yoshiaki SHIMABUKURO, Toyo University
Tomoji ICHINOSE, lshinomaki Senshu University
Takashi FUJII, Nagoya University
Satoru TAKAYANAGI, University of Tsukuba
Yoshiyuki SEKIGUCHI, The University of Tokyo
Yasuo OKAMOTO, The University of Tokyo
Seigo NAKAJIMA, Ferris University
Yoshihiro TAKASUGA, Hitotsubashi University
Koichi OTANI, Waseda University
Secretary General
Terushi HARA, Waseda University
Toshiya HANAWA, Hitotsubashi University
AuditorKyoichi FUTAGAMI, Waseda University
Shigeto TSURU, Meiji Gakuin University
Emeritus
Yoichi ITAGAKI, Yachiyo International University
Noboru YAMAMOTO, Soka University
Yasuzumi IWAO, Nagoya Economics University
Business letters to be addressed, Secretariat of the Union of National Economic Associa­
tions in Japan, C/0 ,School of Commerce, Waseda University, Nishiwaseda 1-6-1, Shin­juku-ku, Tokyo 169, Japan.
COP YRIGHT 1990 B Y THE UNION OF NATIONAL ECONOMIC ASSOCIATIONS
Printed in Japan. DAITO ART PRINTING CO., LTD. Tel. (03)552-8341

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INFORM%I'ION BUILETIN

The publication of The Information Bulletin is part of aprogram, aimed at promoting international exchanges of economic{
studies, commemorating in 1981 the 30th anniversary of theestablishment of the Union of National Economic Associations in{Japan,
when the first issue of The Information Bulletin appeared.
{
The purpose of The Bulletin is to introduce all over the world
the development of Japanese economic studies. We would be most{pleased if The Bulletin will assist every sort of academic societies{
and inst�tutions thr�ughout the world in becoming familiar with theeconomic studies m Japan. It would also be our pleasure if{
economic researches in Japan, introduced in The Bulletin, could{
interest�chola�s abroad and thu�contribute to the advancement of
economic studies in other countries.
{
The Information Bulletin No.10, 1990, provides records of the{papers given, and the discussion taken place, at the latest annual
conferences of Japanese economic associations during the past{academic year of 1989—1990. Included in The Bulletin is a special{
article, entitled JAPAN'S INSTITUTE OF P UBLIC FINANCE,{THE FIRST FIFTY YEARS. Finally, as an appendage to The
Bulletin, a list of the member associatwns, containing relevant{organizational information, is presented.
{<l
The Information Bulletin is an annual publication, with each{annual issue being completed in October of each year. A copy will{
be sent, with compliments of the Union, to universities, libraries and{<£economic research institutions, which have strong relationships withthe member associations of our Union, throughout the world.

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CONTENTS
Page
Special Article
FIRST
1
THE
.
..
YEARS
FINANCE,
FIFTY
PUBLICOF
INSTITUTE
THE JAPAN
9
Activities of the Member Associations for 198 ;:;_ 1990
ACCOUNTING ASSOCIATION, THE JAPAN................................................ 6
AGRARIAN HISTORY SOCIETY, THE ....................................................... 8
AGRICULTURAL ECONOMICS SOCIETY OF JAPAN, THE.…….... ……• …••• …10(Formerly: AGRICULTURAL ECONOMIC SOCIETY OF JAPAN, THE)ASIAN POLITICAL AND ECONOMIC STUDIES,
THE JAPAN ASSOCIATION FOR ...........................................................1 3
AU回TING ASSOCIATION, JAPAN ............................................................15
BUSINESS ADMINISTRATION, JAPAN SOCIETY FOR THE STUDY OF ……..17
BUSINESS ENGLISH ASSOCIATION, THE JAPAN ......................................19
BUSINESS HISTORY SOCIETY OF JAPAN................................................22
BUSINESS MATHEMATICS, JAPAN SOCIETY OF .................. ...................24
COMMERCIAL SCIENCES, JAPAN SOCIETY OF........................................26
COMMODITY SCIENCE, JAPAN SOCIETY FOR .........................................28
ECONOMIC SOCIOLOGY, THE SOCIETY OF ............................................ 30
ECONOMIC THOUGHT, THE SOCIETY FOR THE HISTORY OF ………………3
2
ECONOMICS AND ECONOMETRICS, THE JAPAN ASSOCIATION OF …•……35
ECONOMIC GEOGRAPHERS, THE JAPAN ASSOCIATION OF .. ………… …
· …37
ECONOMIC POLICY ASSOCIATION JAPAN ··············································39FINANCE ASSOCIATION JAPAN .............................................................. 41
FOREIGN TRADE, JAPAN ACADEMY FOR................................................4 3
INSURANCE SCIENCE, THE JAPANESE SOCIETY OF .. ………•• ……•• ……•…45
INTERNATIONAL ECONOMICS, THE JAPAN SOCIETY OF ……•• ……•• …….... 4 7
MONETARY ECONOMICS, THE JAPAN SOCIETY OF .... ………••……... ….. …. 48
ORGANIZATIONAL SCIENCE, THE ACADEMIC ASSOCIATION FOR …………. 50
PERSONNEL AND LABOR RESEARCH, JAPAN SOCIETY FOR…… …………. 52
PLANNING ADMINISTRATION JAPAN ASSOCIATION FOR ......................... 54
P OLITICAL ECONOMY, JAPAN SOCIETY OF............................................. 56
P OPULATION ASSOCIATION OF JAPAN, THE ........................................... 58
PUBLIC FINANCE, THE JAPAN INSTITUTE OF.......................................... 61(Formerly: FISCAL SCIENCE, JAPANESE ASSOCIATION OF)
PUBLIC UTILITY ECONOMICS, THE JAPAN SOCIETY OF ……••••• ……· ……..6 3
REGIONAL SCIENCE ASSOCIATION, THE JAPAN SECTION OF THE ………. 65
SECU印TIES, THE SOCIETY FOR THE ECONOMIC STUDIES OF ……………68
SOCIALIST ECONOMIES, THE ASSOCIATION FOR THE STUDY IN …………. 71
SOCIAL POLICY, THE SOCIETY FOR THE STUDY OF ……••• …… ………• …..7 3
SOCIO-ECONOMIC HISTORY SOCIETY ....................................................75
STATISTICAL SOCIETY, JAPAN................................................................77
TRANSP ORTATION ECONOMICS, JAPAN SOCIETY OF …••••• ……••… …• …….79
List of Member Associations ............................................................... 81
New Member
CONSUMPTION ECONOMY, JAPAN ACADEMY FOR.................................. 93
INTERNATIONAL ACCOUNTING STUDIES, JAPANESEASSOCIATION FOR..............................................................................94

THE UNION OF NATIONAL ECONOMIC
ASSOCIATIONS IN JAPAN
日本経済学会連合

The Union of National Economic Associations in Japan was established in /950, as asole nationwide federation of associations of scholars and experts on economics,
commerce, and business administration. So it celebrated the 40th anniversary this year.
In order to obtain membership to the Union, an association is subject to a strict
examination of its academic activities. As of 1989, the Union had a membership of 35
associations as in the table of contents. Inclusion of recent two entrants to the Union,JAPAN

ACADEMYFORCONSUMPTIONECONOMY

andJAPANESEASSOCIATION FOR INTERNATIONAL ACCOUNTING STUDIES, brings the total
membership for /990 to 37 associations.
The aims and objectives of the Union are to support scholarly activities of its member
associations and to promote academic exchanges both among members themselves, andbetween Japanese and overseas academic societies. The main activities of the Union are:(]) the publication and distribution of academic materials concerning Japanese
economics and papers presented by member scholars, (2) the sending of member
scholars to overseas conferences, (3) holding and supporting of international conferencesin Japan, (4) providing financial assistance to member associations inviting foreignscholars to Japan, and (5) collecting information on activities of member associations
and the issuing of a news bulletin.
The Union published in /974 "KEIZAIGAKU NO DOKO" (The Trend in Japanese
Economics), based on a survey of economic studies undertaken in postwar Japan. The
Supplementary volume covering Japanese economic studies after 1974 was published in
1982.
The Union and the International Economic Association (/EA) jointly held the Fifth
World Congress of the !EA in Tokyo from August 29 to September 3, 1978. The Union
joined the International Institute of Public Finance in holding the Institute's 37th
Congress at Tokyo in September I98I. The Union dispatched 20 member scholars to theEighth World Congress of IEA held in India in I986. Most recently the Union
successfully sponsored the IEA Tokyo Round Table Conference on'Institutions in a New
Dynamic Society'held between IS and 17 September I987.
The Union celebrated in I980 the 30th anniversary of its founding by launching avariety of activities, including the publication of The Information Bulletin. In editing The
Bulletin Mrs. E. O.A. Check/and at Cambridge, England, has been assisting us by giving
suggestions and correcting English, and we are most grateful to her for her kind co­operation.
Address:

Secretariat of the Union, Cl O School of Commerce, Waseda
University, Nishiwaseda 1-6-1, Shinjuku-ku, Tokyo 169, Japan.

THE JAPAN INSTITUTE OF PUBLIC FINANCE,THE FIRST FIFTY YEARS
Susumu S ATO*The Japan Institute of Public Finance (JIPF) was founded in 1940 with 63
members. The following 11 members were selected as the first fellows: Hanya ITO,
Bunshichi OHATA, Koshichi OYAMADA, Shoichi KANBE, Saburo SHIOMI, Juichi
TAKAGI, Tsunesaburo TOKOYAMA, Kiyoshi NAGATA, Taizo HASEDA, Ryuzo
HANADO, and Ichiro M ITAMUR A.
The first meeting had three main presentations: "Economic Fluctuations andTaxation Policies" by Saburo SHIOM I (Kyoto University), "Public Finance in
Wartime" by Juichi TAKAGI (Keio University), and "Taxation on Small Incomes" by
Taizo HASEDA (Tohoku University). SHIOMI gave a statistical analysis of therelation between economic fluctuations and tax revenues. TAKAGI argued that
centralization of economic resources was essential for wartime finance. HASEDA
examined the problem of taxing small amounts of income and criticized the tax reformin 1940.
The Institute held annual meetings until 1943, but thereafter no meetings were held
until 1949.
Some 90 members assembled in May 1949 at Tokyo College of Commerce to re­launch the society.

Several presentations on the Keynesian theory attracted

considerable attention: "The Keynesian Economics and Fiscal Policy" by Tsukumo
SHIONOYA, "The Multiplier of Public Expenditure" by Shintaro MAEDA, and "AGeneralization of the Multiplier of Public Expenditure" by Yoshio HAYASHI.
In November of the same year there was another meeting (6th) at Keio University.
The first session had several presentations on fiscal policy such as "Goodwin's Modified
Multiplier" by Shintaro MAEDA, and "Public Expenditures in the National Account"by Yoshio HAYASHI.
The real interest at the meeting, however, was in "The Shoup Report" on Japanese
tax reform which had been presented two months earlier by the Shoup mission of theUnited States. Keiichiro HIRATA (The Ministry of Finance) talked on "The Shoup
Report and National Tax Reform," Hanya I TO (Tokyo College of Commerce) on"Some Modifications of the Value Added Tax," and Saburo SHIOMI on "The Main
Points of the Shoup Report." I TO and SHIOM I were official advisers of the Shoupmission, and the latter was also appointed as the first chairperson of the Association ofTax Studies of Japan, just established with the Shoup Report. The idea behind theShoup Report, especially the idea of tax equity, had great influence on post-war publicfinance economists in Japan.
The seventh meeting of J I PF was held in 1950 at Kobe University, the eighth
meeting in 1951 at The University of Tokyo, and the ninth meeting in 1952 at Waseda
University. In the ninth meeting, public lectures were also given for the first time.
Takeo SUZUKI spoke on "Tax Reductions and Capital Accumulation," and Hanya

ITO on "Taxation and Capitalism."
The theme of the ninth meeting was "Reconsideration of the Shoup Report."
While the tax system that the Shoup mission set to Japan had received almost completechanges by that time, the Shoup Report was still a main topic of public finance studies
in Japan.
At the tenth meeting in 1953 at Kyoto University, there was a debate about themethodology of studies in public finance. The subject was "The Marxian Economics
and the Methodology of Public Finance Studies." The presenters were Seijiro USAMI(Hosei University), Takao TAKEDA (The University of Tokyo), Seikei OTANI(Ehime University), and Seiji NISHIKAWA (Osaka City University), and thechairperson was Hyoe OHUCHI (The University of Tokyo).
USAMI argued that public finance studies in Japan had dealt primarily with thetechniques of financial management, but public finance as a science should beestablished as a part of the study of political economy in the tradition of Adam Smith
and David Ricardo. TAKEDA argued that public finance studies should be critiques offiscal phenomena and fiscal philosophies at each stage of the development of
capitalism. His argument was based on a theory of the development stages ofcapitalism by Koza UNO (The University of Tokyo). USAMI, NISHIKAWA, andYasuhiko SHIMA opposed TAKEDA's argument that fiscal science should beestablished as an integral part of economic theory. At the end of the debate, OHUCHI
stated his thoughts on this subject.
There were other presentations at the tenth meeting. Masao KANBE (Kyoto
University) presented "Independence of Local Finance and the Problem of Provincial
System," and Tokuzo AOKI "A Survey of the Fiscal Theories of Defense
Expenditures." Other presenters include Kenichi MIYAMOTO, Susumu SATO, andKazuo HIGO.
We can also find names such as Masazo OKAWA, Kisaburo NISHIMURA, Seiji
TSUNEMATSU, and Tokue SHIBATA in the programs of the meetings during thisperiod. They are the first generation of public finance economists in post-war Japan.
Three main themes of public finance studies in Japan had been established by the
1960's, when the Institute had some 300 members. These were the institutional publicfinance, the Keynesian public finance, and the Marxian public finance. The standard
textbooks of the institutional public finance were "Public Finance" by Hanya ITO,
"Principles of Modern Public Finance" by Motokazu KIMURA, and "Modern Public
Finance" by Humio IDE. Those of the Keynesian public finance were "The Theory ofModern Fiscal Policy" by Kazuo KINOSHITA, Sei FUJITA and Tooru
HASHIMOTO, and Musgrave's "The Theory of Public Finance" translated by Kazuo
KINOSHITA, et al. Those of the Marxian public finance were'The Theory of Modern
Public Finance" by Takao TAKEDA, Shokichi ENDO and Tsutomu OHUCHI, and"The Theory of the Modern State and Public Finance" by Yasuhiko SHIMA.
There were some noteworthy presentations at this time. Kenichi MIYAMOTO
criticized the current public investment policies of the Japanese government. Kazuaki
IWAMOTO and Kenji Y OSHIOKA presented a study on local finance. Kazuo
2

KINOSHITA, who was an important member of the government's advisory committee
on the tax system, reported on tax reform. Seiji FURUTA presented a study on theshifting of corporation taxes.
The subjects of the 22nd to the 25th meetings are following. The 22nd meeting at
Konan University discussed "Problems of Public Debt," "Problems of Public Financeof Post-War Japan," and "Problems of the Structure of Local Finance." At the 23rd
meeting at The University of Tokyo, "Modern Public Finance and the Budget System,"and "Problems of Urban Public Finance" were discussed. The 24th meeting at Seikei
University reflected the social problems at the time with papers on "Reconsideration of
Taxation on Firms," and "Problems of Urban Public Finance." The 25th meeting at
Seinan Gakuin University, "Local Finance and Social Development," and "Benefit andTax Burden."In the middle of the 1960's, "Lectures on Public Finance" (4 volumes, ed. by
Yasuhiko SHIMA and Yoshio HAYASHI) was published, to which most of theimportant members of JIPF contributed. The contributors include both neo-classicaleconomists and the Marxian economists.
In the late 1960's, neo-classical economists such as Sei FUJITA, Akihito
UTAGAWA, Tooru HASHIMOTO, and Ichiro OKUMA gave several noteworthy
presentations.
In the 1970's, there appeared another stream of public fin�nce studies in Japan,
namely public economics. At Waseda University in 1970 papers were given on "Public
Economics and Public Finance," and "Reconsideration of Intergovernmental
Transfers in Local Finance." Tetsuya NOSE gave a survey of public economics
developed by European and American economists in the 1960's, and a hot discussion
followed on such subjects as implications of the theory of public goods, and separation
between positive and normative theories.
At the 28th meeting in 1971 at Kobe University of Commerce, Hanya ITO gave a
special speech on "A New Direction of Public Finance," in which he suggested that theconcept of "benefits" in public finance be defined restrictively as benefits specific toeach individual. The main subjects at this meeting were "The Value Added Taxes inEC," "Efficient Public Expenditures," "Urban Problems and Public Finance," and"Population Imbalance and Public Finance."
The main subjects of our study in the late 1970's were as follows: in 1975, "Public
Finance in the Period of a Low Growth Rate," "Problems of Financing Social
Security," and "A Local Finance Crisis." In 1976, "The Planning of Public Finance,""Directions of Tax Reform," and "Reconsideration of Intergovernmental Transfers in
Local Finance." In 1977, "Tax Reforms after the W WII," "Problems of Public Debt,"
and "Centralization and Decentralization of the Fiscal System." In 1978, "Problems of
Taxation Policies," "Toward a Sounder Local Finance," and in 1979, "Problems of
Public Debt," "Theories and Practices of Decision Making Processes of Public
Policies," and "Local Finance in an Aging Society."
As seen in the subject list, taxation policies, public debt, and local finance are thecentral issues in this period. Now the second generation of public finance economists in3

post-war Japan led discussions in the meetings. Hiromitsu ISHI (Hitotsubashi
University), Y ukio NOGUCHI (Hitotsubashi University), Takehisa HAYASHI (The
University of Tokyo), Keimei KAIZUKA (The University of Tokyo), Jun IKEGAMI(Kyoto University), Yatsuka WADA (St. Paul's University), Tadashi USHIJIMA( Nagoya Municipal University), and Masaaki HONMA (Osaka University) are
included in the generation.
We were honoured in September 1981 to be the host for the International Instituteof Public Finance (IIPF). Motokazu KIMURA, who was a fellow of IIPF, wasappointed as the chairperson of the organizing committee, and Tadao YAMAGUCHI
took charge of administration. The conference was a great success, in which 120 foreignand 214 domestic economists participated.
The main theme was "Economic Growth and Public Finance," and many foreign
economists were interested in the remarkable growth of Japanese economy. There were
three sessions in the conference. The first session focused on "The Role of Public
Finance for Growth of Both Public and Private Sectors," the second session on "TheRole of Public Finance for Regional and Urban Development," and the third session
on "The Roles of Fiscal Policy and Monetary Policy." The subject of the second session
was proposed by Japanese members of the programming committee, who were anxious
about the regional and urban problems raised by rapid economic growth.
Among Japanese participants, Kenichi MI YAMO TO talked on "Problems of
Urban Public Finance," Hirofumi SHIBATA on "Pollution-Control Measures," TokueSHIBA1'A on "Urban Development and Local Taxes," and Jun IKEGAMI on"Monetary and Fiscal Policies for Accelerating Economic Growth in Japan."
During the 1980's we considered in 1981, "Public Choice and Optimal Taxation,""Alternative Tax Systems," and "Toward More Efficient Local Finance andExpenditures." In 1982, "Effectiveness of Fiscal and Financial Policies," "Problems ofLocal Tax Systems," and in 1983, "New Developments of Theories of Public Finance,""Fiscal Policy in Modern Capitalism," "International Comparisons of the Fiscal
Relation between the Central and Local Governments."
Since the late 1980's, tax reform has been major debating subject for our meetings.
The introduction of a type of value added tax as in Western Europe has aroused aheated controversy about tax reform, on which the public has strong views.
Other topics discussed at the recent meetings include "Problems of Public Financein an Aging Society" and "Relations between the Central and Local Governments."
And what is the Institute planning for the next fifty years? I would like to maketwo comments on the future developments of public finance studies in Japan. First, weshould take a more important part in international studies of public finance. Publicfinance studies in Japan began by importing those in Western countries. After theWorld War II, theories of public finance developed in the United States have had great
influence on us. We need to do more independent researches and present them to theworld. To help such development, JIPF has published "Public Finance in Japan" (ed.
by Tokue SHIBATA, The University of Tokyo Press, 1986). Some Japanese publicfinance economists have also published their papers in professional journals in English.

4We look forward to greater co-operation with those who pursue public finance as a
research subject overseas.
My second comment is on how the main streams of public finance studies in Japan
would change. There have been three major streams after the World War II, thetraditional public finance, studying institutional aspects of public finance, theKeynesian public finance, and the Marxian public finance.
Traditionalists still take part because public finance is regarded as financial
management of government. The Keynesian public finance has been declining since the1970's, faced with critical arguments against the effectiveness of fiscal policy. In place ofit, public economics has become another main stream. However, implications oftheories in public economics should be carefully examined. The Marxian public financehas also been declining, although it has accomplished some historical analyses which
deserve attention. The main streams of public finance studies in Japan may change to agreat extent in the future, reflecting general developments of economic studies inJapan.
*Professor, Niigata University

5

THE JAPAN ACCOUNTING ASSOCIATIONThe Japan Accounting Association was established in 1937, ramifying from theSociety of Accounting which had been established in 1917. The Association has played
an active part in developing the science of accounting. Its total number of the members
is about 1600. The annual convention is held in early summer alternately in either
Kanto or Kansai.
The Forty-Eighth Annual Convention was held at Matsuyama University, inEhime Prefecture, from May 26 to 29, 1989 with some 800 members in attendance.
The following reports were presented from the Special Committees of the
Association on Saturday afternoon May 27. "A Basic Study on Financial Markets andAssociated Accounting Problems" chaired by Akira WAKASUGI (Yokohama National
University) and "A Research on Interaction Effects between Business Paradigm
Revolution and Changes of Business Information Systems" chaired by Ryuji TAKEDA(Kobe University).
Then, reports from three Study Groups were presented on same day. These were
"International Comparison of Performance Measurement Accounting-A Research
Study—" chaired by Haruzo KANEKO (Shinshu Junior College), "A Study ofDisclosures of Interim Financial Information in Accounting and Auditing: A
Comparative Approach" chaired by Yoshimasa TOMOSUGI (Mie University) and"Studies on Characteristics of Accounting Information" chaired by Hiroyasu OKITSU(Kinki University).
The common subject of the plenary session was " The Essence and Functions inAccounting" with three subtitles: "Concerned with Information Systems", "With
Reference to Institutional Environment" and "Under the Internationalizing
Environment". And these three sessions were held on Sunday afternoon May 28, andpanel discussions for each session followed in the next afternoon.
The title of the first session presided over by Masa'aki MIYAMOTO (Osaka
University) was "The Essence and Functions in Accounting, Concerned with
Information Systems". Yasuo SATO (Hosei University), Toshiro HIROMOTO(Hitotsubashi University), Hisakatsu SAKURAI (Kobe University) and Masao TSUJI(Waseda University) presented opinions mainly from the standpoint of managerial
accounting and one speaker from financial accounting.
The second session entitled "The Essence and Functions in Accounting, With
Reference to the Institutional Environment" chaired by Tetsuya MORITA(Hitotsubashi University). Mitsu'nori HARADA (Matsuyama University), Jun'ichi
CHIBA (Tokyo Metropolitan University), Michimasa SATO (Okayama University)and Shoh'nosuke SHIRATORI (Seijo University) presented opinions in connection
with the disclosure of accounting information included cash-flow information and off­balance sheet problems.
6Masa' atsu TAKADA (Kobe University) was in charge of the third session entitled" The Essence and Functions in Accounting, Under the Internationalizing
Environment" and four speakers: Hiroshi NAKAJI (Certified Public Accountant),
Kunio CHIYODA (Ritsumeikan University), Hiroshi TANAKA (Aichi Gakuin
University) and Eiichi SHIRATORI (Certified Public Accountant) presented thenecessities of revising and international uniforming the rules and standards on
accounting, auditing and tax accounting and also legal liabilities of accountants to thethird party.
On Sunday morning May 28 and Monday morning May 29, thirty-nine members of
the Association presented reports on free-title subjects concerning accounting
principles in foreign countries, accounting standards, financial accounting andstatements, tax accounting, cash-flow accounting, accounting information systems,
managerial accounting, cost accounting, accounting history, accounting education,
foreign currency translation, auditing, book-keeping, etc..
One of the highlights of the annual convention was the panel discussion entitled"Internationalization of Economy and Business Management" held on Saturday
afternoon, May 27. Tetsuo KANAI (Managing Director, The Nikko Securities Co.,
Ltd.), Nobuo MORIKAWA (Hiroshima Shudo University) and Rurio IMAI
(Executive Director, The Ehime Shimbun Co., Ltd.) presented and discussed as thepanelists under the guidance of Yoshio KATSURA (Kobe University).
The reception and dinner which was enjoyed by some 500 guests, was held on
Sunday evening at Ehime Prefectural Convention Center.
Besides these, many members of the Association were interested in Hansatsu(Paper Money in Edo Era issued by local feudal government) and Seiryo-ki (1564)(Biography of Seiryo DOI and the oldest book in Japan on agricultural affairs) as wellas the first edition of Adam Smith's The Wealth of Nations (1776) and other famousbooks by classical economists and other authors exhibited at the library of Matsuyama
University.
The members of the organizing committee for the convention were ten professorsof accounting of the Department of Business Administration, Matsuyama University
and Matsuyama Junior College: Satoru KAMIMORI, Saburo KURATA, Mitsu'nori
HARADA, Shigeyoshi SHIMIZU、Kenji OKANO, Miyoshi MORIMOTO, Hiroyuki
MURAKAMI, Masaru NAKAGAWA, Toshio MIYAUCHI and Kishitaka IKEDA.
The next annual convention will be held at Tokyo University of Economics, inKokubunji, Tokyo, on September 10 to 13, 1990. The common subject of the plenary
session will be "Accounting in Japan under the Internationalized Environment."(Satoru KAMIMORI)

7

THE AGRARIAN HISTORY SOCIETY

The Agrarian History Society consists of four sections, which pursue research into
economic theory, current economic analysis, economic history of Japan and of foreigncountries. The Society organizes two conferences a year, the Spring Symposium andthe Autumn Conference while other meetings are held locally. To commemorate thebicentennial of the French Revolution, it was decided that the main theme of the year
should be The Changing Structure of European Societies after the Bourgeois
Revolutions: From the Aspect of Role of Intermediate Social Associations.
The Spring Symposium was held at the University of Tokyo on June 24, 1989. The
topic especially chosen for this meeting was Toward a New Historical Perspective:
From the World of The French Revolution. Yoshihiro MATSUURA (Nihon
University) and Eiichi AKIMOTO (Chiba University) read the papers titledrespectively The New Trend in the Historiography of the French Revolution andTheory of Comparative Social Revolutions Revisited under the co-chairmanship ofHiroyuki NINOMI YA (Tokyo University of Foreign Studies) and Ken-ichi SAKAI(Tokyo University of Economics). In his appraisal of recent studies of the French
Revolution, MATSUURA emphasized that these studies focused mainly on thepolitico-cultural aspects of the Revolution rather than on the socio-economic
perspective on which previous researches concentrated. By using of the analytical toolsof structuralism and symbology, recent monographs successfully explained thedifference between the intention of the participants in the events and its results.
AKIMOTO developed the theory proposed by Theda SKOCPOL. By comparing
three social revolutions, French, Russian and Chinese, SKOCPOL noted the common
characteristic of revolutions to breakout under the severe military rule and/or politicalpressures from outside. AKIMOTO stressed the importance of the autonomous role ofthe state which could not be explained solely by socio-economic factors.
The Autumn Conference was convened at Tohoku University on October 14 and15, 1989. Tadami CHIZUKA (The University of Tokyo), Hisashi WATANABE(Kyoto University), and Tateshi MORI (The University of Tokyo) presided over the
symposium held on the second day of the Conference. The common theme was The
Changing Organizational Structure of Capitalist Society after the Bourgeois
Revolutions: Focusing on the Intermediate Associations. The papers read at the
Symposium included: "The Reestablishment of the Intermediate Groups in Post­
Revolutionary France" by Akira HIROTA (Hosei University), Government Strategy
for Organizing Industrial Relations in 19th-Century Britain by Koichi OGASAWARA(Yamagata University) and The State and Intermediate Organizations in Imperial
Germany by Shuuichi YATSUBAYASHI (Senshu University).
CHIZUKA explained that the main topic was chosen in order to allow theopportunity to compare the social structure of Japan with that of modern western
society. In France, for instance, people argued that the state consisted only of8

individual citizens exclusive of social organizations. As a result, privileged social groups
such as artizan guilds were officially banned. The Japanese society, by contrast, thetraditional connection between officialdom and intermediate private organizations liketrade associations has been perpetuated.
HIROTA's paper was concerned with the aspirations of the socialists andsociologists in 19th century France. Worrying about the emergence of an atomized civilsociety after the French Revolution, they tried to reorganize society by reviving theintermediate social groups. Frederick Le Play was among the most prominent andsystematic thinkers in this social movement. He started from the sociological researchof industrial workers and later widened his perspective so as to conceive communities
and regions as strategic plateaux to reorganize French society. HIROTA explained, in
detail, how the main framework of Le Play was constructed and how his social thought
was put into practice by his followers.
The paper read by OGASAWARA criticized the established collectivist view of theindustrial relations of the 19th-Century Britain and tried to put more emphasis on theliberal individualistic tradition of British Society. He insisted that the basic idea forlegislation on industrial relations was that of market individualism which assumed every
British subject as an independent and'respectable' citizen. Since legislators thoughtthat workers should be trained to become good citizens, the trade union was
acknowledged as an organ for cultivation of the manner and mentality of workers.
OGASAWARA concluded by saying that on the British scene industrial relations were
not collectively formulated in terms of legislative control.
In marked contrast to French and English experience, modern German society
retained and protected the intermediate social organizations through both legislativeand private means. In the process of industrialization, cartels and other interest groups
exercised strong influence over the economy with the help of bureaucracy. In his
analysis of the public law on the handicraft industrial organizations (Innungen and
Handwerkkammern), YATSUBAYASHI indicated the importance of the educational
function of these organizations. When no vocational training school existed, handicrafts
organization was the sole institution for educating young apprentices. After reviewing
the changing functions of these organizations before World War I, he concluded that
their efforts were successful enough to make the handicraft industries one of the mostdistinctive aspects of German industrial scene.
Lively discussions followed these three papers. Osamu YANAGISAWA (Tokyo
Metropolitan University) asked why the social movement of handicraftsmen was
unique to Germany. He also pointed out that the increasing role of intermediatepressure groups could be explained by the reform of parliamentary system anddevelopment toward monopoly capitalism. Kanji ISHII (The University of Tokyo)
explained the role of intermediate social groups in modern Japanese history.
AKIMOT O commented that in the United States the emergence of modern
associations such as trade unions eventually caused state intervention. Akihiko
Y OSHIOKA(Tohoku

University)

stressedtheimportance

of

the

capitalist，

organizations like Manchester Chamber of Commerce in influencing state policy.
(Tateshi MORI)

THE AGRICULTURAL ECONOMICS SOCIETY OF JAPAN(Formerly: THE AGRICULTURAL ECONOMIC SOCIETY OF JAPAN)
The political framework surrounding Japanese agriculture is changing very rapidly
as Japan struggles to liberalize its agricultural market to satisfy international criticism,
especially that from the United States. These are many diverse opinions regarding anappropriate time scale and the best strategies for opening up agricultural markets.
Since Japan's economy consists of a very strong industrial sector on the one hand and aweak agricultural sector on the other, the opening up of agricultural markets is a major
problem in Japan today.
The Agricultural Economics Society of Japan has recognized the urgency of thisproblem. The internationalization of Japan's agriculture has become the focus ofattention, and since the opening, in 1987, of the agricultural market problems havebeen discussed continually by the society. In 1987, we talked about "The Prospects ofJapanese Agricultural Development and The New International Pressure." Thefollowing year the subject was "The Problems and Prospects of Japanese Agricultural
Development and New International Pressure". Parallel with the academic discussion
among scholars came, the move to open up Japan's agricultural markets in 1988. The
GAIT recommendations listed twelve Japanese agricultural items which the UnitedStates deemed to have contravened the GAIT rule on import restrictions. A decision
was reached to open up the market for eight of the twelve items in 1988; in the same
year, the Japanese government decided to open the market for beef and oranges.
Under such circumstances and due to the insistent clamor of the society members, thesociety resolved to continue the discussions on agricultural liberalization as the main
topic of the 1989 symposium under the title of "Rural Society in Japan Under Market
Liberalization in Agriculture". The society felt that the view of local farmers was notalways considered when matters affecting their livelihood was being considered. For itis well-known that agricultural cooperatives, and local farmers must inevitably face
severe difficulties following the opening to outside markets of their products. To adjust
to unavoidably harsh conditions, several alternatives have been developed, theseinclude abandoning the growth of agricultural products that are to be "liberalized" andmoving to non-competitive crops. Could agricultural products become morecompetitive by drastically reducing production costs? How are local people going toadapt to the new situation in order to reconstruct agriculture?
The following four topics were discussed at the 1989 symposium:
1. "Long-Range Strategy of Agricultural Cooperatives in response to theInternationalization of Japan's Agriculture", by Fumiaki ARUGA (Central Union ofAgricultural Cooperatives)
2. "The Beef Producing Farms and the Opening of the Market Policies" by Koichi
KURIHARA (Asabu University)
3. "Citrus Growing and the Open Market System" by Naonobu ASANO (Onsen
Citrus Growers Agricultural Cooperative Society)10

4. "Hokkaido, the response of Upland and Dairy Farming Areas to newinternational Challenges" by Chosei SHICHINOHE (Department of Agricultural
Economics, Hokkaido University)
The first speaker, Mr. ARUGA, introduced the basic strategy of agricultural
cooperatives based on a perspective for the 21st century which was recently publishedby Central Union of Agricultural Cooperatives (ZENCHU) as a guide book for
agricultural cooperatives. He also mentioned on the criticisms raised. This guide booknot only aimed at reorganizing agriculture but also at improving rural living conditions.
In view of the mounting pressures for Japan to liberalize her agricultural markets (aswell as the banking system, and other economic institutions), it seems essential for
agricultural cooperatives to set up new guidelines to advise their member-farmers.
Local criticisms have been aimed at the ZENCHU plan not only from member
cooperatives but also from journalists, scholars, and many others. The main criticisms
can be summarized as follows:
1. It seems to support the present liberalization of agricultural products.
2. It does not refer to the responsibility of the government for agricultural policies.
3. It seems to accept the slow decline in the importance of Japanese agriculture.
4. It is necessary not only to have perspectives for the future but also clear
approaches on how to solve the urgent problems of the present.
5. It is unclear on how the guidelines should be carried-out.
6. It overlooks the need for resolutions decided at the National Assembly ofAgricultural Cooperatives to be confirmed at the local prefectural assemblies.
The second speaker, KURIHARA, referred to the problems as they related to beef
cattle production. He noted: the probable influence of liberalization on local beef
production areas; the way farmers in the main beef-producing areas in Japan,
particularly those in the beef-fattening, reproducing, and dairy areas, try to adjust to
harsh conditions of competition; and alternatives for displaced producers. He
emphasized that beef-producing farms in Japan are aiming to improve the q叫ity of
their meat as the best way to compete with lower-priced imported beef. Likewise, he
expounded on the following trends:
1. Wagyu beef-producing farms are shifting to high quality cattle feed which
produces marbling in the meat.
2. Dairy cattle fattening farms are shifting from the fattening of pure-bred cows to
the fattening of cross-bred cows, that is those cows cross-bred with the Japanese black
cattle.
3. Other trends include switching from the fattening of dairy herd cows to thefattening of Wagyu cows.
These trends may increase production costs and raise the price of domestic beef. Will
this extra cost reduce the demand for Japanese farm-produced beef?
The third speaker, ASANO, examined the prospects for lessening the acreage
under mandarin oranges as a measure against liberalization. He noted that since 1963
there has been a citrus crisis owing to the rapid increase in orange production, thelifting of restrictions on the import of fruits, and the raising of the import quota for
11

fresh orange and orange juice. The citrus cooperative society has responded to these as
follows:
1. Reduction of mandarin orange acreage to take account of demand and supply.
2. Changing varieties to produce better quality citrus fruits.
3. Juice processing to draw off surplus products and achieve price stability of
mandarin oranges.
He also stressed the importance of reorganizing producing areas, replanning citrus
orchards, building roads, providing multi-purpose sprinklers, and raising y oung trees.
Furthermore, he underscored the need for high quality production through intensive
farming and the use of labor and capital in an optimum scale, that is one hectare percapita of farm household members. Costs must be lowered by increasing the ratio ofhigh quality products.
The fourth speaker, SHICHINOHE, discussing upland and dairy farm areas in
Hokkaido raising the following questions:
1. How do farmers strive to achieve high quality production and at the same time
reduce production costs under open market conditions?
2. What are the major institutional limiting factors that obstruct the achievementof the above mentioned improvements?
He also referred to the local government strategy for liberalization or the so-called
guidepost of regional agriculture. He also introduced the results of the questionnaire
addressed to agricultural cooperatives in upland farms and dairy regions which revealed
the severe limitations for self-help. Many of those who responded to the questionnaire
regard institutional policies related to problems like the rent system, legal protection
for agricultural supply, subsidy for land improvement, and taxation as urgently needed.
The discussion of the above four topics was held on June 30, 1989 at the Obihiro
Chikusan University under the chairmanship of TENMA of Hokkaido University . The
summary of the discussion is contained in the Journal of Rural Economics, volume 61,
no. 3, published by the academic society .
(Tadashi TENMA)

12

THE JAPAN ASSOCIATION FOR ASIAN POLITICAL AND
ECONOMIC STUDIESThe Japan Association for Asian Political and Economic Studies held its 43rd
National Convention on October 28th and 29th, 1989, at Matsuzaka University in Mie.
The main theme was "Present Situation of Economic Development in Asia" andsix papers were presented of which two were on China, one on South Asia (India), one
on ASEAN (Thailand), and two on NIES (Republic of Korea and Taiwan).
The first paper was entitled "The Achievements of the Reform of the Chinese
Economic System" presented by Katsuji NAKAGANE (The University of Tokyo). He
explained that during the past decade (1979-88) there had been certain economic
improvements including economic growth, standards of living, internationalization of
trade, investment and technology, and structural adjustment from an economy
previously biased towards heavy industry. On the other hand, the speaker noted thatvarious critical structural problems had emerged, including increases of income
disparity between/within urban and rural areas; three types of open, hidden andrepressed inflations; increase in trade imbalance and foreign debt; and increases inunemployment. But the most critical problem was the decline of people's belief in thesystem & ideology of socialism.
The other paper on China was "Continuation, Succession, and Development ofChinese Traditional Villages: Real and Unreal Images of Chinese Socialism" by Hiroshi
ISHIDA (Kansai University). He argued that in the process of the Chinese socialist
revolution, rural people had been forced to make heavy sacrifices in favour of theindustrialization and urbanization of China. The government organized the collective
farming system to ensure good supplies of food at low prices, and prohibited peasantsfrom moving into urban areas & risking social stability of urban areas. He insisted thatthe hierarchy of human relationships, inherited from the traditional rural society, hadbeen kept and fully utilized throughout the revolution. Thus the basic social structureof Chinese traditional villages had persisted during the revolution despite its new­socialist nature.
The third paper was "Characteristics of Economic Development Strategies in India:'Adjustment' and 'Economic Liberalization"' by Akio NISHIGUCHI (Doshisha
University). He characterized Indian economic development strategies in two ways:(1) political democracy had been considered a high priority for the national unificationof a heterogeneous Indian society; and(2) highly bureaucratic economic controls had been introduced because of their distrustof the free market mechanism. The government stressed the social equity on one hand,and promoting heavy industries as national enterprises on the other, this resulted instructural inflexibility and the restraint economic growth of India.

Economicliberalization and high-technologies were introduced to counter act such deficiencies
since the end of 1970s but he believed such adjustments made very little difference to13the basic characteristics of Indian industry.
Toshia TASAKA (Osaka University of Economics and Law) read a paper on"ASEAN: An Analysis of the Thai Economy & Attitudes to Capitalism." He argued
that there were three critical problems in Thailand's movement toward capitalism,
which might throw some light on common economic problems facing ASEAN
countries, these were (1) The export-investment oriented growth promotion of the
NIES type development strategies might generate further debt crisis. (2) Urban
economy could not absorb and sustain incoming laborers from rural areas and often
pushed them back to rural areas again, where they were obliged to open new land for
cultivation thus threatening the whole world's well-being by destroying the forests. (3)The polarization of enterprises — between large scale businesses and small firms — had
resulted the labor market developing a small class of skilled workers and a large class of
unskilled workers.
The first paper for NIES study was "Present Situation of Korean Economic
Development" by Hiroshi SAKURAI (Kurume University). He showed how the
Korean economy had produced high economic growth, economic structural changes in
GDP and employment, diversification and modernization of manufacturing industries,
less dependence on investment from abroad onto domestic savings. These were, heargued, still many problems, including income disparities between urban and rural
regions, reflecting different educational levels, significant economic concentrations in
the large scale enterprise groups, unstable relationship between capital and labor, andpublic pollution and environment problems. For the future, he stressed the importanceof Korea developing manufacturing industries of machinery and parts.
Another paper for NIES was "Taiwanese Economic Development" by Shinkei
RY U (Tokyo University of Economics). He highly valued Taiwan's macro economic
performance in the past regarding GNP growth rate, export growth, low increase in
price levels, high national saving ratio and capital formation, and structuraltransformation toward industrial economy with high technology from a labor intensive
economy. He suggested Taiwan's possibility of shifting from a developing into adeveloped country by the end of this century. However, he noted that such brightprospects could be affected by many problems such as the excessive money liquidity,
with a limited domestic investment opportunity, labor shortage, pushing wages higher,
environmental problems, dual economic structures of private and national and ofdomestic and foreign capital. He reminded his audience that Taiwanese economy had
still kept the historical characteristic of a heavy dependence upon foreign economies.
The major issues commonly raised by all the papers, which also ran through thediscussions, covered many aspects of economic, social and political problems due
especially to a rather high macro-economic growth realized in Asian countries. The
problems included those of unbalanced regional growth, debt, national & international
environment, the relationship between development-oriented dictatorship and politicaldemocracy,

whether to have national

and private

enterprises,

the economic

concentration in large scale enterprises, and the labor market. The proceedings of theconference will be published as AZ/YA KENKYU (Asian Studies), Vol. 37, No. 3.

14(Saburo YAMADA)

THE JAPAN AUDITING ASSOCIATIONThe Japan Auditing Association holds an annual convention in addition to two
regional branch meetings. The 12th annual convention of the Association was held on
October 7th and 8th, 1989, at Seikei University, Musashino City, Tokyo. After reports
were given by the Special Committees, several members presented reports on theunified-theme and on free-theme subjects. The meetings concluded with a round-tablediscussion.
Three reports were presented by the Special Committees on " Auditing for Local
Self-Governing Bodies" (chaired by Kazumasa KONISHI, Nara Prefectural College),"Sampling Test" (chaired by Ichiro SHIOB AR A, Waseda University), and "The roleof Auditors elected under the Commercial Code" (chaired by Ryoichi W AKITA, Meiji
Gakuin University).
The unified-theme of the 12th ann叫convention was "New Waves of Auditing".
Four research reports were presented, followed by discussion. Kouji OHYACHI( Aoyama Gakuin University), in his report "Expert Systems and Auditing",summarized the recent history of artificial intelligence and its application. He suggested
ways in which this could be applied to the financial audit. He pointed out that there
was a new research field in the systematization of the judging process conducted by theprofessional auditors (including the establishment of audit plan and schedules), choiceamong audit procedures and the methods to be used, and evaluation of ways of internal
control.
Yoshimasa TOMOSUGI (Mie University) discussed the effectiveness of auditors
elected under the Commercial Code for preventing managements from behaving
dishonestly in his paper entitled "The role of Auditors under the Japanese Commercial
Code, to detect management fraud". After reviewing recent affairs in Japan and theUnited States, he emphasized the importance of the audit function in all mattersrelating to successful business.
Ryoichi WAKITA (Meiji Gakuin University), in his paper "How the Proposed
Amendments Required under the Japanese Commercial Code Will Affect theProfessional Audit", compared the required conditions of the financial audit under the
Securities Act with that under the Commercial Code. He criticized the present controlof managements through the board of directors and the stockholders meeting, andmade some proposals toward establishing new audit requirements for small companies
under the Commercial Code.
Kazumasa KONISHI (Nara Prefectural College), "New Developments in the
Evaluation of Internal Control of the Financial Audit", reviewed the concepts ofinternal control in the United States and its implication for audit pracatices in Japan.
Traditionally the detection of fraud is not the main objectives of the financial audit, but
he insisted that the independent auditors should extend the scope of the internal
control so that they can prevent and expose as much important fraud as possible not15

only by employees but also by managements.
The subsequent vigorous discussion was chaired by Nobuo HIDA (Chuo
University). OHYACHI pointed out the effectiveness of expert system in identifying
management fraud and irregularities. TOMOSUGI was asked to consider the proposed
amendments to the small firm audit requirements under the Commercial Code, and hesupported the gradual extension of the same level of independent audit now required
for large firms. With regard to the WAKITA paper there were many opinions, but mostparticipants believed that it was important to recognize the difference between thepresent financial audit of large firms and the proposed investigation in preparation for
the financial statement of small companies. KONISHI repeated that he believed thatthe effect of the new concept of internal control would mean that the auditor would
take greater responsibility in detecting irregularity and fraud.
In the free-theme section, the following four papers were presented: "Effects ofComputerized Accounting System on Auditing", "Auditing for the New Information
System", "Questionnaire Investigation: the Results of Internal Auditing in JapaneseFirms", and "Amendments to the Audit Field Work Standards in Japan".
In addition to the national convention, the East-Japan regional meeting were heldon July 8th, 1989 at Musashi University, Tokyo. Four papers were presented on"Independence and the Social Significance of Auditing", "Towards Establishing an
Expert System for Auditing". "Auditors'Role in a Theoretical Audit Model", and "ASocial Audit Function in Government Accounting".
The West-Japan regional meeting, held on November 18th, 1989 at Doshisha
University, Kyoto, focused on the recently published series of the Statements of Audit
Standard in the United States. Four papers were presented covering the auditing withrespect to going concern convention, public expectation and the auditor's report,
responsibility in fraud detection, and the implication of the new developments in the
United States on the audit practices in Japan.
The Association started to publish research monographs in 1988. Monograph No. 2"Audit for Small Companies" was published in July 1989 (printed by Dai-ichi Hoki
Publishing Co., Limited, Tokyo).
(Hisakatsu SAKURAI)16

JAPA N SOCIETY FOR THE STUDY OF BUSINESSADMINISTRATIONThe 63rd annual convention of the Japan Society for the Study of Business
Administration was held at Fukuoka University, Kyushu from 11 to 14 September
1989. Eight papers and a symposium were devoted to the unified theme"Reexamination of Japanese Management" while 30 papers were presented on a broad
range of issues.
The unified theme "Reexamination of Japanese Management" reflected thesituation that Japanese industries have been forced to solve many difficult problems
including change of industrial structure, globalization, shift of value and evaluation
etc.. Eight papers devoted to the unified theme included: Shigeki AOYAMA(Shizuoka University), Production-Transfer of Japanese Firms and "JapaneseManagement". Yoshinobu SATO (Nagoya University), Group Strategy andDevelopment of Production-Transfer, Yosuke KINUGASA (Kanagawa University),
Characteristics of Growth Strategy of Japanese Enterprise and "Growth-Mechanism".
Masayuki MUNAKATA (Kobe University), Vector of Production Methods inJapanese Firms. Kenichi YASUMURO (Kobe University of Commerce), Globalization
and Restructuring of Japanese Management. Hisashi MASAKI, Japanese Corporate
Finance. Ryushi IWATA (Musashi University), Pattern and Function of Management
System. Minoru HARADA (Kyushu University), "Japanese Management" and Realityof Labor Relations.
AOYAMA referred to oversea-transfer of production in Japanese firms, inparticular of production management system such as "Kanban" or "Just in time"
method. At the same time, he discussed the transfer of Japanese employment systemand cooperative labor relations system within a firm being accompanied by one ofJapanese production system. He argued that three systems can eventually betransferred to foreign countries, so that Japanese management system as a whole canbe successful. However, as yet only the third system has been introduced into Japanese
factories in America. Neither the Japanese arrangements for life-time employment nor
cooperation in labor relations has yet been transferred to America. AOYAMA pointed
out the limitations of the transfer of a Japanese management system as a whole.
SATO had also researched how a Japanese automobile parts manufacturer had
attempted to launch in America and asked whether the subcontract factories were thesame in the U.S.A. and in Japan or not? One strategic strength of Japanese
automakers is the "group strategy" of networks of group factories.
KINUGASA presented a cycle model of the conversion of production location. In
this model, he explained ingeniously how Japanese firms had grown for the past two
decades. KINUGASA argued that, when America as production location did not
become advantageous for products whose starting point in its life cycle was in thiscountry, Japanese firms introduced such products to Japan and produced under favor17

of the advantage of production location, while American firms did not always switch
their production from America to overseas. However, he points out that at this present,
Japanese firms can not enjoy such a growth mechanism, and therefore must change
their growth strategy.
Comparing Japanese manufacturing techniques and production systems with
American, MUNAKATA tried to characterize Japanese system theoretically. He
discussed "multi-product-small-size production" (as it is known in Japan), flexible
manufacturing system, "just in time" method (JIT), and "net works" of group so on.
Finally, he poses problems theoretically, that is, what contents of "multi" and "small­size" are, which vector FMS (flexible manufacturing system) take, integration or
decentralization.

YASUMURO analyzed what changes occurred within Japanese firms as aconsequence of their globalization strategy. YASUMURO says that Japanese firms who
expand to take in overseas subsidiaries are compelled to restructure their management
system. The employment of foreign staff in overseas'subsidiaries has a strong effectnot only upon the salary system but also on human resource management in general.
His arguments are based on the case of an electronics maker overseas that he hasstudied. YASUMURO noted that there is often a salary gap between foreign staff andJapanese. YASUMURO pointed out that coexistence of Japanese seniority (we say
nenkojoretsu) and the competitive system causes such a gap and indeed the two systems
are contradictory and create conflict. In the case that YASUMURO studied, theemphasis was put upon the competitive system. Therefore, H AY system is introduced.
MASAKI discussed Japanese corporate finance looking at the historical,
economical, and financial aspects. He believed that the immaturity of the Japanese
capital market affected its corporate finance which lends too much and is indirect. For
example, in 1983, the ratio of owned capital is 26.2% on Japanese manufacturingindustries base, while the American ratio is 49.6%. MASAKI believed that, although
Japanese capital market is becoming increasingly mature, it is not yet enough so.
IWATA discussed management systems by distinguishing function from structure.
In Japanese management structure, whether function serves a useful purpose isdetermined only by various historical, socioeconomic factors. According to IWATA,
those functions in Japanese management which previously dominated havesubsequently been replaced by others. He believes that the present management
structure may itself be forced to change.
H ARADA spoke on his experience as a member of Fukuoka's labor committee forten years and discussed Japanese management and in particular the Japanese labor­
union that is organized within business enterprise. He points out that such a Japaneseunion is still important, but poses many problems.
(Kyoichi FUTAGAMI)

18

THE JAPAN BUSINESS ENGLISH ASSOCIATION

The 1989 (49th) annual convention of the Japan Business English Association(hereafter JBEA) was held at Doshisha University, Kyoto, on November 18 and 19,
1989. The association will publish "Nippon Shogyo Eigo Gakkai Kenkyu Nempo Dai
49 Go" ( The JBEA Annual Studies No. 49) in October 1990 which will contain nine
papers as well as details of the panel discussion held at the convention.
The subjects and resumes of these papers and reporters are as follows:(1) "Public Policy & the Use of Arbitration especially in relation to Antitrust Disputes
concermng Internat10nal Commercial Transact10ns" by Akira SAWAI (St. Agness
Junior College): This paper gave a specific example of the decision handed down in1985 by the U.S. Supreme Court in the antitrust dispute between Mitsubishi Motors
Corporation and Soler Chrysler-Plymouth Incorporated, and discussed the availabilityof arbitration in antitrust claims growing out of the U.S. domestic law in internationalcommercial transactions.
(2) "On the Technical Terms of Marine Cargo Insurance" by Osamu KATO
(Takachiho College of Commerce): The reporter mentioned the fact that there are anumber of marine cargo insurance terms misused or misinterpreted in the trade here.
Some examples were given explaining details of their proper use or interpretation. He
further referred to some new terms employed by the Institute of London Underwriters,
Cargo Clauses, 1982.
(3) "Moving from 'caveat emptor' to 'caveat venditor'- Focusing on the 'Defect'
Concept of Products Liability Law in the U.S.A." by Hiromu NAKAMURA(Doshisha University): The doctrine of "caveat venditor" "let the seller beware"
currently prevails over that of "caveat emptor" "let the buyer beware". Because noclear definition can easily be given about "defect", there is much unpredictability inproducts liability disputes. The reporter described the unsound state of this in the U.S.
(4) "How to File a Petition" by Tadashi KATO (Kansai University of Foreign Studies):
During the Occupation (1945-1951), the Government and individual Japanese were
obliged to file petitions on various matters to the General Headquarters and theSupreme Commander for the Allied Powers. The reporter introduced two instances ofthe p etitions filed with the G.H.Q. for Internat10nal Telecommunications which heprepared on behalf of the Japan's 0 verseas Commumcatlons Assoc1at1ons.
(5) "Should Collective Nouns in Business Writing be Singular or Plural?" by Kashii
FUKAYA (Nagoya Women's Junior College of Commerce): The reporter referred toexamples and explanations from dictionaries, books on business writing, and actual
business letters from the U.S., and concluded that in the U.S. the collective nouns takesingular verbs, but that the related pronoun agreement differs according to letter
writers: approximately 60% writers use'they, their or them'in substitution for collective
nouns such as company, corporation, and the others use'it, its or it.' Those who try to
make the expressions more natural prefer to employ the plural pronouns.
19(6) "The Place of Communication in the Credit Card Industry: The Essentials ofPresent-Day Practice and a Consideration of Recent Developments" by Hirokazu
SHIMA (St. Agness Junior College): In his previous studies, the reporter had
described the credit card system following various approaches and introducing all
aspects of the industry. This paper concentrated on functional analysis of types ofcommunication involved in the card industry.
(7) "English as a Tool of Global Business" by Tatsuo NOBU (Tokai University): The
reporter explained how the English language serves Japanese business people as an
indispensablebusiness tool and how it is used to communicate with foreigncounterparts; also, he gave advice on the acquisition of the language through his own
experience in international transactions.
(8) "Wording of International Agreements Drafted by Non-Native Speakers ofEnglish" by Takao MUKOH (University of Marketing and Distribution Sciences): This
paper gave an overview of international business contracts worded by non-native
speakers of English overseas from the viewpoint of clear, relevant, concrete andconsistent communication of the signatories' contractual intentions. Giving specificexamples from draft agreements, the reporter pointed out various problems, andconcluded that Japanese enterprises, with little experience in international contracts,should seek, from the beginning of initial contract negotiation, able counseling fromwell-qualified contract practitioners lest they fall into legal traps overseas parties might
be trying to spring on them.
(9) "A

Studyof

Shock-Absorbing

andInterfering

FunctionsandCompany

Abbreviations in English Memoranda Exchanged within Foreign Affiliated Firms inJapan and Their Overseas Business Groups" by Kazuo KAMEYAMA (Osaka Meijo
Women's College): On top of his report presented at the 48th annual convention in
1988, the reporter discussed further details of the leading functions of memos, i.e.,
shock-absorbing and interfering functions, which lead us to the root of crossculturalproblems. He also tried to clarify company code systems often used for more effective
internal communication.
A special mention should be made of the panel discussion to consider "On what
points do I put stress when I teach Business English?" This discussion was chaired by
Saburo HANEDA (Aoyama Gakuin University) and the three panelists each gave akeynote speech followed by a question session. The first panelist, Katsumi ITO(Waseda University) stressed the importance of three skills of writing, reading, andperforming; the last one was based on 40 years of his experience in directing English
dramas at university. Takao NORISADA (Kwansei Gakuin University) referred to his
problems, teaching Business English to 3rd-year students, who are majoring incommercial science, and who do not have enough ability to remember or write inEnglish. In order to arouse their interest, he advises them to import goods personallyand to read economic articles in the English newspapers. He also gives them simulation
practices in specific trade transactions. He needs highly developed software as audio­
visual teaching materials and also more academic literature on Business English
studies. Yasushi FUKUDA (Seinan Gakuin University) introduced curriculums of20

Business Communication in English at his university, which aim at the education
adapted to the advancing age of internationalization. He particularly pointed out thedifference between the actual communication and the conventional Business English
education. After these three keynote speeches, there was a session full of rigorous
debate and discussion. The chairman remarked that everyone naturally had their own
opinion based on their own experience, and asked Katsumi ITO to sum up. ITO
stressed that teachers should encourage their students to look to the future and told astory about a student who had written "I will study English from now on" in response
to his request for giving comments at a graduation examination.
The next annual convention, the 50th anniversary of our Association, is scheduled
to take place on October 27 and 28, 1990 at Seinan Gakuin University, Fukuoka.
(Junzo HAYASHI)

21

BUSINESS HISTORY SOCIETY OF JAPANThe 25th annual conference of the Business History Society of Japan was held on
September 30 and October 1 at Kyoto Industrial College. On the first day 15 reports
were read including seven reports concerned with Japanese business history and eight
concerning foreign countries. Two reports considered the international relationshipbetween Japanese and foreign firms. On the second day, at a symposium entitled"International Comparison of Business Ideology" (keiei rinen no kokusaihikaku),
organized by Kishichi WATANABE (Kyoto Industrial College) read a paper, entitled"The Origins of Business Ideology". In his presentation, he stressed the importance ofstudying business ideology in an international setting, although as yet Japanesebusiness historians have concentrated on organization and technology development.
Confucianism in East Asia did play a crucial role in the industrialization in the area,
just as Christianity did in Europe and America. But although rationality was
instrumental in the economic development in each case, there was a sharp difference
between them.
The second speaker was Takeshi YUZAWA (Gakushuin University) whose topic
was "The Rise and Decline of the British Economy and Business Ideology". In somesenses Samuel SMILES, urging "Self-Help", was representative of free competition inbusiness development at the time of the Industrial Revolution, ·but perhaps his
influence was on the wane by the end of the 19th century. Jun SAKUDO (Kobe
Gakuin University), the third speaker, emphasized the positive aspect of the French
entrepreneurship in his presentation entitled "Business Ideology of the French
Industrialists during the 19th Century". The fourth speaker, Meisui KO (Dankoku
University, Korea) reported on "Business Ideology in Korea" arguing that Koreans'business ideology was based on Confucianism which encouraged the Korean
entrepreneurs to aim for the growth of his firm, the enlargement of employment
opportunities, the improvement of the standard of national life, and finally enrichmentof the nation. The last speaker was Hiroshi HAZAMA (Waseda University) whose
presentation was entitled "Business Ideology in Japan in the Early Period ofIndustrialization". He argued that the principal points of Japanese industrialization
were as follows: first, the goal of entrepreneurs was the continuance of the firm itself
rather than striving for profit or growth. Second, Japanese workers'aims ran parallelwith those of the entrepreneurs whereas in Europe and America confrontational
attitudes between management and labour were usual. These reports produced avigorous and useful discussion.
The Business History Society of Japan in addition has, since 1973, been organizing"The International Conference on Business History" which is sponsored by the
Taniguchi Foundation. The conference proceedings are published by The University ofTokyo Press and to date 16 volumes have appeared. This March, "Foreign Business inJapan" edited by Takeshi YUZAWA and Masaru UDAGAWA (Hosei University), has
22been published. The conference is held every January in splendid surroundings at thefoot of Mt. Fuji. The project leader for this year's theme was Yoshitaka SUZUKI(Tohoku University) who made the opening presentation entitled "The Rise andDecline of Steel Industries". In his report SUZUKI raised the interesting point that forfirms to remain prosperous they must diversify and that when it was possible theyshould attempt to transfer their resources to other branches or even to other industries.
Other papers read were "Competition and Maturity in the British Steel Industry,
1870-1914" by S. TOLLIDAY (Harvard University), "The Growth of the American
Steel Industry, 1865-1914: Technological Change, Capital Investment and Trade
Policy" by P.F. PASKOFF (Louisiana State University), "The German Iron and Steel
Industry in the 19th Century" by R. FREMDLING (Rijks Universiteit), "The
Evolution of Structures in the Iron and Steel Industry (France, Belgium, Luxemburg):
National and International Aspects, 1900-1939" by E. BUSSIERE (Universite deParis IV), "International Competitiveness of the Japanese Iron and Steel Industry in
the Pre-World War II Period" by T. OKAZAKI (The University of Tokyo), "The Long
and Winding Road: The Postwar Japanese Iron and Steel Industry: Continuity andDiscontinuity" by S. YONEKURA, "The American Steel Industry in the Post-War
Era: Dominance and Decline" by P. TIFFAN Y (University of Pennsylvania),"Challenge of a Latecommer: Case of the Korean Steel Industry with Specific
Reference to POSCO (Pohang Iron Steel Co., Ltd.)" by S. JUHN (RIST Managementand Economics Research Institute). The proceedings of this conference will be
published next March.
Another activity of the Business History Society is to edit Japanese Yearbook on
Business History in order to introduce Japanese scholars' work to foreign readers. The
yearbook is published annually by the Japan Business History Institute. So far six
volumes have appeared. The Japanese Yearbook on Business History in 1984 (vol. 1)
and that of 1985 (vol. 2) had "The Japanese Business System" as special issue. Vol. 3 in1986 covered "The Histories of Companies in Japan" while vol. 4, 1987 was called"Technology and Labor in Modern Japan" and vol. 5, 1988, "Business and Industry inJapan".
(Etsuo ABE)

23

JAPAN SOCIETY OF BUSINESS MATHEMATICSAt the 31st Annual Academic Meeting, June 3 and 4 at Senshu University inTokyo, ten research topics were presented, and subsequently seven of them were
published in the Ann叫Report of the Japan Society of Business Mathematics.
Hajime SATO, the guest speaker, of Senshu University assessed the recent
development of linear programming.
Shigeo OHTSUKI (Tokyo Metropolitan Institute of Technology) proposed a
procedure for constructing an information system based not on the bottom-up concept
but on the top-down concept in his paper entitled "The Analysis of Functional andInformational Relationships Based on the Top-Down Approach". He asserted that thisapproach led to a considerable reduction of time required to design an information
system and that it helped to reveal latent flaws in the system. Case studies conducted
showed that, since functional and informational elements of a system were structured ina manner which enabled a designer to employ a semi-automatic approach, evenunskilled designers could operate the system satisfactorily.
Yudo HIRAI (Komatsu College) and Shigeo OHTSUKI (Tokyo Metropolitan
Institute of Technology) in their paper: "The use of Moving Variance for Testing if a
Stochastic Time Series is Stationary" maintained that their method could also be usefulfor clustering in image processing.
Yoshio IIHARA (Nanzan University) proposed the pricing of derivative assets
based on risk neutral valuation in his paper: "The Risk Neutral Valuation of Derivative
Assets". He derived a discount rate which equated the expected revenue of a stock to
the revenue of a non-risky asset. Derivative assets were evaluated by the use of the
discount rate.
Kazuyoshi KIMURA (Tokyo University of Science), Hideo NOZU (Dai Nippon
Printing Co., Ltd.), and Koji MATSUOKA (Tokyo University of Science) compared
the productivity of a simple production process with that of a multiple production
process arranged in parallel lines in their paper: "The Structure and Division of
Production Systems". They designed a procedure to construct the multiple production
process without sacrificing productivity.
Setsuo OHNARI (Hitotsubashi University) analyzed interrelationships of decision
makers in his paper: "A View on the Principle of Business Mathematics". Heparticularly focused his attention on mutual relationships between a decision makerand his or her opponents and environment. He formulated a model which described theinterrelationship of two interdependent decision makers and then showed that the Nashequilibrium was applicable in general non-cooperative games. He further formulated amodel which described mutual interactions between a decision maker and a group ofdecision makers based on informational mapping.
Saburo KOBAYASHI (Aoyama Gakuin University) proposed to utilize thediscrete maximum principle to determine an optimal path of transition from a less24satisfactory state of an organization to a satisfactory one in his paper: "Manpower
Planning Based on the Discrete Maximum Principle". He showed that a transition fromone state to another could be accomplished for a minimal length of time.
Shunsuke AOKI (Kokushikan University) conducted an econometric study on thetechnological competition within the automobile industry in Japan in his paper:"Technological Competition within the Automobile Industry". He characterized thecompetition as one between two leaders and several followers.
Akira UCHINO (Yokohama College of Commerce) presented the extension of
matrix accounting.
Tadashi FUJITA (International Christian University) assessed duration analysis.
(Hiroshi MATSUO)

25

JAPAN SOCIETY OF COMMERCIAL SCIENCES

The Japan Society of Commercial Sciences (JSCS), whose membership includes
some 678 academics and practitioners in the fields of commerce, distribution andmarketing, held its 39th annual meetings at Kyushu International University in
Kitakyushu-shi between May 31 and June 2, 1990. This year's unified theme was"Internationalization and New Dynamism in Distribution," under which such diverse
topics as the international comparisons of distribution systems, internationalization of
distribution activities, (domestic) distribution of imported goods, and governmental
policies on distribution, were discussed.
The first day (June 1) of the meetings was devoted to the presentation of thepapers on the unified theme in the morning and a symposium in the afternoon, in
which the authors and commentators of the papers in the morning session gave theirown views and exchanged opinions with the floor. A lively discussion revolved aroundmany important issues, particularly the problems associated with adaptation todifferent cultures and social structures in other countries and the need for collection
and more penetrating analysis of information on international distribution.
At the end of the first day the general business meeting of members was held and,after the reports of activities of local divisions, the 1988 fiscal report and the 1989
budgets were both approved. Also at the business meeting new officers of the Society
were elected. These were:
Y ukichi ARAKAWA (Hiroshima College of Economics)
President:
Vice Presidents: Masao UNO (Waseda University)
Hitoshi YAMANAKA (Konan University)
The second day (June 2) was allotted to the presentation of individual papers under
the following five separate heads: Distribution Policies, Distribution/Marketing andCultural Dynamism, Marketing Theories, and Miscellaneous Topics.
The proceedings of the 39th national meetings, titled "Globalization and New
Dynamism of Distribution" was published by the Society on December 20.
In addition to the national meetings and divisional meetings, the Hokkaido andKanto divisions of JSCS held an inter-divisional symposium on April 22 at Gakushuin
University, the theme of which was "Public Policy Tasks on Distribution in the 21stCentury." After the Distribution Policy section chief at MITI presented the contents ofa report on its vision on Japanese distribution in the 90's, a panel discussed the
directions which public policies on distribution should take as the 21st century
approaches. The Chubu, Kansai and Kyushu divisions of the Society held an inter­
divisional meetings on October 27 through 28 at University of Marketing andDistribution Sciences in Kobe. The theme was "What is missing in the current researchon Marketing and Distribution?" Reports on the current research in the fields ofMarketing Strategies, Consumer Behavior, Distribution Channels and Macro­Marketing were presented and all participants joined in a general and enthusiastic
26

discussion.
An international conference, the second Japan-Korea Marketing Seminar, was held
in Osaka on December 2, 1989, at the Cultural Exchange Center of Osaka City
University. This was the first such international academic conference sponsored by
JSCS, although this year's seminar was actually organized by the Kansai division of
JSCS. Twenty one members of the Korea Marketing Association (KMA) and 54
members of JSCS participated in this seminar. Two speakers from each country
presented papers on the impacts of internationalization on the respective economy onmarketing and distribution systems. Despite translation problems, an enthusiastic
discussion followed each presentation. There was an increased awareness among theseminar participants that the marketing and distributional problems of two countries
despite being similar in some respects, had large areas of profound differences. The
meeting was adjourned with a general feeling that this seminar should be continued in
the future as a valuable opportunity for dialogue between the two national academic
communities. The KMA President, II-Chung WHANG, announced the KMA's
intention to hold the third seminar in Seoul, Korea, in 1990.
In retrospect, the year 1989 marked an important turning point for JSCS during
which the Society began to reevaluate its previous stance of solely focusing on thedomestic problems. It is obvious that an academic society cannot ignore the increasing
interaction of world economies and cultures. It was no coincidence that the Japan­
Korea Marketing Seminar was held at this time. If our Society were to makecontributions toward the evolution of Japanese marketing and distribution systems, weshould take this opportunity to look at the internationalization of the Japanese
economy as a major focus of its research and educational efforts.
(Masao NAKANISHI)

27

JAPAN SOCIETY FOR COMMODITY SCIENCE

The 40th National Convention of Japan Society for Commodity Science was held
13-14 M ay, 1989, at Kanto Gakuin University.
The theme of this symposium was "Commodity Science Today, Problems andProspects".
How has commodity science responded to the changes taking place in society?
':"hile increased economic activity has ensured that people get more service andmformation, society is also affected by greater international contacts and technologicalimprovements.
Our discussion can best be summarized under four heads.
(1) View point of technical innovation.
Reporter Y asuhiro YAMAMOTO (Chiba University of Commerce).
YAMAMOTO discussed the subject as follows. Production; a small production ofa large variety goods, developing the new market, creation of the new business, changeof the interbusiness competition, multilateralization of business activity, promotion andreorganization of industry. Distribution; improvement of the physical distribution
efficiency by establishing the information network (POS, VAN, etc.), change ofcommodity character and distribution character.
Impact on the consumer; change of the consumption style, the individual as
consumer and self participation.
He showed a matrix of setting technique→ production system→ <product> →distribution system→ <commodity> → consumption, and putting industrial structure,competition, institution and information network together with it.
He concluded that the role of commodity science was to relate technical innovation
to society and to attempt to harmonize society through enterprises, administration andconsumers.
(2) V iew point of distribution.
Reporter Takashi SUZUKI (Kanto Gakuin University)
SUZUKI believed that commodity science should see that distribution plays therole as the selling agency for the producer and the purchase agency for the consumer.
He also proposes that the commodity which is the object in the distribution could begoods and services which are recognized by both consumer and producer. Nowadays,
appearance of one commodity can influence distribution business and even the
consumer's life, therefore we should consider any one commodity as a complex factor
in itself and predict its influence. When we discussed the characteristics of eachcommodity, we measured them according to three steps; production, distribution andconsumption. Distribution which links production and consumption becomesincreasingly important.
He also mentioned definite problems as follows; trying merchandise classificationfrom the view point of distribution and marketing, observing commodity characteristics
28

depending on the mutual relation between commodity and distribution channel,
considering a suitable retailer style to work as a purchase agency for the consumers.
(3) View point of consumption.
Reporter Kunihiro TAKARADA (Aichi Gakuin University)
TAKARADA explained his point of view as follows, in a modern society, where
social division of labour and exchange economy have been developed, he concluded
that the standard of the consumer's life depends on whether the choice of commodity
and consumer's behaviour are appropriate or not, because everything such as material,
information,

service,

time

and

space

furthermore,mentalactivity has been

merchandising. For the enterprise, the commodity is a means of getting profit and alsoof justifying social and economical existence. Any commodity has two importantfunctions, to satisfy the consumer's needs and to accomplish the aim of the businessactivity. He also showed the problem of commodity science from the side of
consumption. Response to the question on the content of the abundance. Adaptation
for the transformation of consuming structure. Adoptation for the consumer's needs.
Dissolving contradiction on social utility and private utility. Introduction of commodity
assessment.
To find the optimum solution, we must search for the method of analyzing theneeds of both supplier and consumer. This is where the commodity science isimportant.
(4) View point of merchandise testing.
Reporter Yoshio SEKI (Kagawa University)
SEKI explored the grievances of the consumer which depends on . whether the
consumer's expectations are met. How can the producer determine what consumer
expects? This is difficult because expenditure must be limited and the expectation of
consumers varies. What about commodity testing? Surely then the consumer should begiven unbiased advice before he buys? Unfortunately the consumer does not always
discover whether merchandise testing has taken place or not. He suggested that thecommodity

scienceresearcher should collect and analyze theresults,whichadministrations and enterprises hold, and should try to clear up the grievance of theconsumers.
Besides this symposium, there were nine studies on free theme and one study
concerning the education for commodity science have reported.
The theme of the symposium for the next year have announced as "Service andsoftnomics in economy and commodity science".
(Kazuhiko SAKAIRI, Jiro AYUKAWA)

29

THE SOCIETY OF ECONOMIC SOCIOLOGYThe 25th annual conference of this society was held at the department of
economics, Kobe Gakuin University in Kobe, on September 30 and on October 1,
1989. The main theme for the 1989 convention was "Conflict, Competition, andCooperation in the Economy and Society". Three papers were presented at theconvention:
1)

Y ukimasa NAGAYASU (Waseda University) addressed the problems, "The World

System and Various Games; Competition, Struggle and Cooperation". He argued that
there exist different kinds of interdependent, international games in our contemporary
world system, of which the dominant game is competition in the form of market
mechanism and struggle is another polar case of game. Our ideal is to achieve
harmonious international relation through the combination of these three games, while
avoiding a violent struggle like war.
One of the answers is to attempt to foster regional economic and political
integration by organizing group action like EC, the US-Canada free trade agreement
and ASEAN. On the other hand, COMECON system led by socialist ideology has notworked and is in the course of a restructuring process which is called "perestroika".
The contemporary world system seems to be moving toward harmonious global andborderless interdependence mainly based upon a market system. However, our systemcannot be covered only by market, because it must sometimes face so-called market
failure. Therefore, we need more comprehensive system with the non-market, that may
develop into a socio-political system like cooperation. Perhaps, the principle ofbehavior, of individuals as well as of nations, should be transformed from theegocentric to the universal.
NAGAYASU concluded his presentation by proposing a new golden rule, "Heaven
helps those who help others," instead of an old rule, "Do as you would be done by."2)

As a sociologist, Shuya NAGAO (University of Osaka Prefecture) discussed"Social Integration and Social Conflict". He argued that social integration or social
cohesion, understood as the continual social ties among individuals sharing the feelingsof belonging together, is the essence of any social unit (social group, community, totalsociety, etc.). It is the ground on which social structures, norms, organizations andinstitutions grow.
According to him, this does not mean that the societal units are necessarily
harmonious in their normal state, rather social conflicts, conflicts rooted in social
structures, are ubiquitous. Then the relationship between integration and conflict ishighly debatable in any society. Thus many sociologists have attempted to explain theimplication of social conflicts as any society survives or develops.
In this discussion, NAGAO distinguished and traced two types of theoretical
approaches to this problem, the consensus theory and the coercion theory, as two basic
interpretations of the manner in which groups or societies cohere. The former
30

(especially functionalism in its early times) were led to view conflict as having primarily
disruptive, dissociating and dysfunctional consequences, while the latter suggested "allthat is creativity, innovation, and development in the life of the individual, his group,and his society is due, to no small extent, to the operation of conflicts—" (R.
Dahrendorf).
On the basis of this distinction, he confined his argument to the social conditions
which permit social groups or social organizations to survive and develop in adaptation
to internal and environmental changes. Putting emphasis on L.A. Coser's theory, heconcluded that conflicts had positive as well as negative effects on social integration.
And in the terminology of functionalism, he explored the conditions that made social
conflicts positively functional for the society.
3) Haruo OBA (University of Library and Information Sciences) gave an interestingpresentation, "Struggle, Competition, Cooperation, from a Viewpoint of Relationism".
Through his survey of the history of economic thought, he presented three schemes,
which traced the changes of points of view in western economic and sociologicalthoughts: from struggle to competition, and finally to cooperation.
(I) Europe (in the context of politics and economics)
Hobbes - Smith - Myrdal(II) Europe (in the context of sociology and economics)
Marx - Hayek - Myrdal(III) Germany (in the context of sociology and economics)
Marx - Eucken - Mueller-Armack
On these basic schemes he attempted to form his system of economic sociology. In
addition to this discussion, from the viewpoint of the history of Japanese political andeconomic thought, he considered Yasuma TAKADA's theory of Conflict, Competition
and Co-operation as a representative theory of economics, and Shigeru NANBARA's
theory of the same name as an example of political philosophy.
Six papers were presented to the conference in the special sessions by Takeo
TSUCHIYA (Reitaku University), Mitsuru HATSUKAWA (Teikyo University),
Masahiro KATSUTA (Osaka Sangyo University), Toshihiko NISHIYAMA (Eichi
University), Katsumi HARADA (Tokoha-Gakuen Hamamatsu University), andKazuyuki UMINO (Waseda University). Other six special topics, especially about
economic and sociological thoughts, were presented by Wakako IWATA (Keio
University), Tsuneo KITO (Nihon University), Masayasu YOSHIZAWA (Hiroshima
College of Economics), Koshi TAKESHITA (Kansai University), Y ukio
YAMAMOTO, and Takanobu TOJO (Shimonoseki City College).
The 26th annual meeting is scheduled to be held at Senshu University on
September 29 to 30, 1990.
(Toshiya NA GAO)

31

THE SOCIETY FOR THE HISTORY OF ECONOMIC THOUGHT

Partly because of the difficulty of identifying a subject which would interest thegeneral membership and partly to encourage active involvement of many members, it
was decided not to recommend any one theme for this year's conference. This reportwill therefore consist of an overview of the conference with reference to the main
themes which were discussed.
The political economy in the age of enlightenment was explored by two speakers.
Shoji TANAKA (Kanagawa University) argued the methodological importance ofAdam Smith's idea of natural theology in the making of his jurisprudence in "Natural
theology and social science" and emphasized the critical roles played by his precursors,notably Francis Hutcheson and Lord Kames. "On property in John Locke's Two
Treatises" by Toyomitsu OKAMURA (Kyushu Industrial University) made a point of
the social character of Lock's concept of property as shown in Locke's discussion of thecommunal bond of human individuals, particularly the social division of labour.
Classical political economy was considered by five speakers. Y uji SATO (Keio
University) shed new light on David Ricardo's relatively neglected monetary theory, as
developed in the course of the Bullionist Controversy during the Napoleonic Wars in"The rise and development of Ricardo's theory of the measure of value" and Hiroji
NAKAMURA (Hiroshima University) in "A new phase in Ricardo's theory of value"pointed out the specific importance of the third edition of his Principles. "Richardo andSismondi on the machinery question" by Ryoichi EBIHARA (Niigata University)emphasized the similarities between their respective treatments. A wider view of thesocial and ideological background was taken into account in Kayoko KONDOH(Nagoya University), "The organic combination between Malthus's two Principles" andin Naobumi HIJIKATA (Chuo University), "Robert Owen's political thought and his
criticism of religion".
What many call the British historical school has now long been a subject of hot
debate by British scholars, and has just begun to be the object of serious studies here.
"The Corn Law controversy after its repeal" by Masaharu HATTORI (St. Paul's
University) discussing in a refreshing manner the theoretical as well as the historicalimplications of J.S. Nicholson's opposition to J. Chamberlain's campaign for tariffreform clearly reflected such a growing concern about limitations of the classical school
as understood in a schematic fashion. "Historical method and the theory of capital
accumulation of Richard Jones" by Kensaku SUMI (Keio University) was an attempt
to re-instate the alleged founder of the historical school.
The recent tendency of declining number of papers on Marxian economics wasonce again confirmed. Akira MIYAKAWA ( Tokyo Metropolitan University) in "Thecentral question of Marx's theory of reproduction on an extended scale" made anattempt of reading Marx's manuscript No. 8 for the second volume of his Capital toestablish a logical connection between circulation of capital and extended reproduction.
32

Shigeyoshi SENGA (Yokohama Municipal University) in "Hilferding's concept ot thetheory of value" treated of Hilferding's criticism of Ricardo's value theory andsuggested the farmer's emphasis on exchange process. Shinichi AIDA (Hokkaido
College, Senshu University) argued the central place of the idea of a national economy
in Karl Kautsky and pointed to its similarities with later German liberalism in "Theidea of national economy of the German Marxist school".
No less than five papers were presented on modern economic theory whichreminded us of our members' growing concern with this field of study. Takashi
NEGISHI (The University of Tokyo) asked Conference to consider von Thiinen, thepioneer of the marginal productivity theory, and he discussed the neglected theoretical
implications of his theory of natural wages in "Von Thiinen's theory of natural wages".
V. Pareto's socio-economics was the subject of "The rise and fall of elites and economic
fluctuations" by Tadashi DATAI (Kurume University) and Alfred Marshall's Principles
was analyzed from a comprehensive viewpoint by Shinro IWASHITA (Kyushu
University) "Marshall's economic system and the representative firm". " A structural
analysis of Schumpeterian system" by Motoki K AN AZASHI (Nihon University) and"The formation of the General Theory and the analysis of the causal structure by the
Post-Keynsians" by Masaaki YOSHIDA (Kyoto University) both attempted todemonstrate the systematic character of the economist's theoretical writings from theirrespective standpoints.
A remarkable feature of the conference was a series of five papers presented on
topics related to French and Italian political economies. They covered a wide range andwere devoted to timely and attractive subjects presented by both young and moresenior scholars. Shohei YONEDA (Shimonoseki City College), in "Boisguilbert's
concept of equilibrium", provided a comprehensive analysis of the concept and pointed
to its importance as a pioneering attempt later developed by Adam Smith's idea of thesystem of natural liberty. Kazuhiro OTA (Hannan University) discussed in detail
Dutot's neglected work from an analytical viewpoint of monetary circulation andindicated the indispensable place occupied by post-Law economists including Dutot in
the history of the French economic thought before Quesnay. Economic and social
thoughts in post-Revolutionary France and Italy were discussed by three speakers.
"Reform and revolution in Calabria" by Takashi OKUDA (Hitotsubashi University)
shed a light on G. M. Galanti as a leading figure of the enlightenment in Naples andgave a detailed discussion of the social and economic background of the movement by
way of reading Garanti's newly published writings. Takumi TSUDA (Hitotsubashi
University) in "The French Revolution and political economy", presented anilluminating analysis of some remarkable economic writings, so far neglected or
unknown, in the period between 1795 and 1799. Takashi UENO (Toyo University)
reviewed economic trends in the age of Napoleon III as reflected in the writings ofMichel Chevalier in "M. Chevalier's Introduction in his report on the Universal
Exposition in 1867."
By way of conclusion, there is no doubt that the conference was a success in
impressing participants with a variety of subjects and issues in each specialized field.
33

The next annual conference was scheduled to be held at Kanto Gakuin University on
November 10 and 11, 1990.
(Tatsuya SAKAMOTO)

34

THE JAPAN ASSOCIATION OF ECONOMICS AND ECONOMETRICS

The Japan Association of Economics and Econometrics was founded in 1947 withthe aim of study ing and promoting academic research in economic theory andeconometrics. Since then, however, the Association's activities have expanded
significantly. Currently its activities cover all the areas of economics; such as economic
theory and mathematical economics, game theory, economic policy in general, publicfinance and taxation, monetary policy, corporate finance, international trade andinternational finance, industrial organization, urban and regional economics, economic
development, agricultural economics, econometrics and economic statistics. The
membership of the Association consits of academic economists/econometricians as well
as researchers affiliated to government/private institutions. The Association has
currently 1,951 individual as well as 16 institutional memberships.
The main activities of the Association consist of publishing The Economic Studies
Quarterly (Kikan Riron Keizaigaku), holding annual general meetings, and co­sponsoring the Far Eastern Meeting of the Econometric Society when it is held inJapan.
The Economic Studies Quarterly, an internationally established academic journal,
written mainly in English is now publishing volume 41. It is open to all researchers in
the field of economics and econometrics around the world. Non-members as well as
members of the Association are welcome to submit unpublished research articles foreditorial consideration. The Journal will be published four times a y ear in March, June,
September and December. Prospective contributors may find the submission procedurein the penultimate page of the first (March) issue in each volume.
This y ear's annual general meeting was held at University of Tsukuba on October
14 and 15, with approximately 600 members participating. There were 28 sessions, inaddition to three panel discussions and the presidential address.
In the regular sessions, 85 papers were presented altogether, abstracts of whichwere printed in the Riron-Keiryo Keizai Gakkai 1989 Nendo Taikai Hokoku Yoshi(Abstracts of Papers Presented at the 1989 Annual Meeting of the Association of
Economics and Econometrics). List of title and chairperson of each session, title ofeach paper presented, and names of authors and discussant was also published in the
Economic Studies Quarterly, Vol. 40, No. 4, 1989.
The Titles of two panel discussions were; (i) Internationalization of Japanese
Economy and Its Implication on the Labor Market and (ii) Corporate Organization andManagement in Japan. In addition, a special panel discussion on education was held
under the title of Economic Educations and Economist Training in Japanese Graduate
Schools.
Hirofumi UZAWA (Niigata University ), current president of the Associationdelivered the presidential address under the title of "Thorstein Veblen and35

Contemporary Economics", which will be published in a future issue of the Economic
Studies Quarterly.
This year's annual general meeting was organized by the program committee which
consists of: Noboru SAKASHITA (Chairman, University of Tsukuba), Hirofumi
UZAWA (ex officio, Niigata University), Hiroyuki YAMADA (ex officio, Kyoto
University), Kazuhiro IKAWA (Kobe University), Makoto OHTA (University ofTsukuba), Nobuhiro OKUNO (Nagoya University), Hiroaki OSANA (Keio
University), Yasuhiro SAKAI (University of Tsukuba), Yoshihiko TSUKUDA(Tohoku University), Y ukio NOGUCHI (Hitotsubashi University) and Akiyoshi
HORIUCHI (The University of Tokyo).
1989 Far Eastern Meeting of the Econometric Society was held at the Doshisha
University on June 10 and 11, simultaneously with the Association's annual westernregional meeting. Altogether 336 papers were submitted, of which 291 were fromabroad (mainly from USA and China). At the meeting, 116 papers were presented in
33 sessions, of which 75 by foreigners. Abstracts of these papers were printed in
Abstracts of 1989 Far Eastern Meeting of the Econometric Society. List of title andchairperson of each session, and title and name of author(s) of each paper presented
will be published in a future issue of the Econometrica, the journal of the EconometricSociety.
In addition, 1989 Presidential Address of the Society was delivered by the current
president of the Society, H. SONNENSCHEIN (University of Pennsylvania), under
the title of "Methods of Economic Theory". As the Invited Lecture, C. SIMS
(University of Minnesota) gave an address, "Models and Their Uses."This year's Far Eastern Meeting was organized by the program committee, which
consits of Kazuo NISHIMURA (Chairman, Kyoto University), Toshihiro IHORI(Osaka University), Tsuneo ISHIKAWA (The University of Tokyo), Kimio
MORIMUNE (Kyoto University), Soichi KINOSHITA (Nagoya University), Toshiaki
TACHIBANAKI (Kyoto University) and Akira YAMAZAKI (Hitotsubashi
University). The meeting was supported by the Far Eastern Standing Committee of the
Econometric Society, which consits of Masahiko AOKI (Chairman, Kyoto University
and Stanford University), Michio HATANAKA (Osaka University), Kazuo MORI
(Doshisha University), Chikashi MORIGUCHI (Osaka University), Takashi
NEGISHI (The University of Tokyo), Kazuo NISHIMURA (Kyoto University) andKotaro SUZUMURA (Hitotsubashi University).
The next Far Eastern Meeting is scheduled to take place in 1991 at Seoul, Korea.
(Masahiro OKUNO-FUJIWARA)

36

THE JAPAN ASSOCIATION OF ECONOMIC GEOGRAPHERS

The Association held its 36th national convention on 20th and 21st, May 1989 at
Chuo University in Tokyo. The second day was devoted to the symposium on thecommon theme "New Approaches in Economic Geography".
The main objective of this symposium was to explore how the recent changes in theJapanese economy, that is widespread high technology rapid expansion of software andinformation industries, and more close connection with international economy, require
re-examination of conventional framework and approach in economic geography.
These changes have largely altered the concept of industry and also the meaning of"distance" and "location" for industry . With growth of the important role ofinformation and technology in our economy, their impact on regional economy also has
increased. This has raised questions on the validity of conventional concepts in bothregional analysis and location theory. One of the characteristics of the recent Japanese
economic policies is the increasing importance of regional policies and regional
planning .
The methodological examination o f the study o f regional policies and thesystematization of the regional planning methods are the urgent task for the economic
geography. Without tackling these tasks, it will be impossible to criticize effectively andsuggest alternative policy.
As living standards have improved, encouraged by higher income levels, so case of
the environment has become one of the important tasks of the government policy. This
is now reflected in the fact that it is an important function for the promotion of the
public benefit to consider the "green" issues in the agriculture in addition to theprimary requirement of producing agricultural products. It does mean that the regional
economy should no longer be narrowly defined, and we should include the culture, thepolitics, and the people's consciousness in the regional concerned within the purview ofour study.
The three speakers were requested to present these problems boldly.
The first paper entitled "The Tasks for Economic Geography in the Information­oriented Society" was read by Akinobu TERASAKA (University of Marketing andDistribution Science).
He argued that the information explosion has been changing the regional economic
structure, and that recent regional policies have been closely related to the location of
information industry. He gave as examples plans for "Technopolis", "Teleport", and"Teletopia". However it is mainly the primary and secondary industries which theeconomic geography has dealt with so far and the study on the tertiary industry is veryrare except with regard to retail trade.
There was a vigorous discussion following this paper. Seiji KOMORI (Kobe
University of Commerce) threw some doubts on lecturer's conclusions asking how thetables on the distribution of information industry at the Prefectures level should be37interpreted. Wataru NOZIRI (Osaka City University) argued that it was necessary to
examine not only the quantity but also the q叫ity of information. Fujio MIZUOKA(Hitotsubashi University) asked the ultimate question, is economic geography
becoming useless, because transportation cost have greatly decreased in theinformation-oriented society? Kozo NARITA (Osaka City University) asked how theexisting spatial structure was being transformed in the information-oriented society.
The second paper presented by Iwao KANEYASU (Tohoku University) was on "A
New Approach to Spatial Planning". He examined the regional planning process at
local government level, using the case study of Shiroishi City, Miyagi Prefecture. He
argued that the history of regional planning could be divided into five phases. The firstis the period of the master plan in which the ideal design is described as a blue print interms of physical planning. Then comes the period of systems analysis, which isfollowed by a period of participation by the local people. It is important at this stage toreconcile conflicting interests. The fourth phase is the period of coexistence of unified
and guerrilla plannings in the 1980's. Many consulting firms mainly located in Tokyo
prepared the stereotype regional plans at the request of the local government, but
nowadays, grass-root movements of local people to re-vitalize their economies often
presented their alternative plans. The final phase is the period of planning to takeaccount of the necessary software requirements. He insisted on the importance of
maintaining regional concepts and identity, and claimed that skills in both science andart were required for regional planning. Tatsuo ITO (Mie University) said that theoverview of regional planning or regional policy was very wide and it was impossible
for economic geographer to cover the whole field.
Hidenori OKAHASHI (Hiroshima University) presented a paper on "Economic
Geography and Core and Periphery Theory." He argued that the periphery was always
marginalized although there was always an integration process taking place in relation
to the core area, which is the metropolitan area. What is now the function of the rural
settlement? Previously the rural settlement was the principal unit for formation ofsocial capital. Now this function has been taken over either by the local government, by
the agricultural co-operative society and by the forest society, which are dependentprimarily upon the government resources. These peripheral organizations might be
expected to expand the outside economy, pursue public interest functions (outside theordinary operation of the market mechanism), and provide the means of social
satisfaction to those people involved.
Keichi KUMAGAI (Hannan University) questioned the applicability of thedependency theory in relation to regions within one country.
The Association was phased to launch this symposium as the first step in the
exploration of a new approach to economic geography.
(Masanori KOGA)38

JAPAN ECONOMIC POLICY ASSOCIATIONThe Economic Policy Association of Japan was founded in May 1940 when some
300 university professors and policy researchers assembled in Tokyo to discuss theprinciples and techniques of economic policy amid an increasingly precarious
international situation. With the exception of an interruption during the war years, theAssociation has since maintained its academic programs dnd progress and celebrated its
40th anniversary with the publication of two special volumes entitled "Thenries of
Economic Policy" and "The Economics of Policy-Making" (published by Keisoshobo,
Tokyo, May 1988).
The 46th annual convention, held at Aoyama Gakuin University in May 1989,
concentrated on "Industrial Policy in a Global Context-the Economy Without
Customs Borders". It reexamined the concept of "industrial policy"-its definition,
objectives, scope and impact-against the radically changing global politicoeconomic
environment of today.
Under the chairmanship of Hiroshi KATO (Keio University) and Yoshiharu
SHIMIZU (Kanagawa University), three keynote papers were presented: by Masu
UEKUSA (The University of Tokyo) on "towards an mternational umflcat10n of public
policy for industry", by Makoto KURODA (The Long-term Credit Bank Japan Ltd.)on "Japanese industrial policy in a global economic perspective" and by Toshimasa
TSURUTA (Senshu University) on "industrial policy and the horizontal international
division of labour". Koujiro NUNO (Kobe University) and Hisao ONOUE (Osaka
Sangyo University) served as commentators on these reports.
UEKUSA emphasized that the Japanese government should improve its policy
system with further deregulation particularly in service sectors. His proposals included(1) attempts to unify international inspection-authorization-qualification systems, (2)legislation to ensure a greater clarity in "administrative guidance" and (3) measures tofacilitate the participation of foreign firms in the subcontracting and other intermediate
industrial organizations in Japan.
KURODA offered a reassessment of the government-industry links in Japan. He
evaluated those policies which had assisted swift structural adjustment, easing thereintegration of weaker economic agents into the readaptation process and encouraging
technological innovations in general. Referring to the would-be "cultural" traits ofJapanese industry which ran counter to US industry, he proposed that the subject ofgovernment-industry interactions should receive a much more incisive analysis in thecontext of the total historical background of the transformation of the economic
structure.
ONOUE's comments alluded to the thrust of the current criticism by foreigners
against Japanese industrial policy which he considered as related to the producer­
oriented, rather than the consumer-oriented bias in Japanese administration.
NIINO focussed in his comments on several matters both theoretical and empirical,
39which would put in a clearer perspective the policy issues connected with the Structural
Impediments Initiatives and thus make a greater contribution towards a theory ofinternational cooperation in industrial policy.
KATO, as chairman, suggested that the theory of industrial policy-reconstrucredin a larger framework-ought to give more explicit treatment to political arithmetic­
and become an integral element of economic rationality that would assume particularimportance in the effort of the international management of the global economy. And
SHIMIZU pointed out that Japan, while in the first rank in terms of productivity, still
lagged behind if living standards were the criterion and that Japanese industrial policy
should aim at resolving this inconsistency.
The annual convention also had several specialized sessions dealing with such
subjects as: the Theory and Principles of Economic Policy (chaired by Taketoshi
NOJIRI, Kobe University and Hideichiro NAKAMURA, Tama University);
International Economic Policy (chaired by Kiyoshi KOJIMA, International Christian
University and Takashi FUJII, Nagoya University); Industrial and Technology Policy(chaired by Tadao KONISHI, Kansai University, and Kazunori ECHIGO, Shiga
University); Environmental and Regional Economic Policy (chaired by Zenichi ITOH,
Tokyo Women's Christian University); and Fiscal and Financial Policy (chaired by
Hiromi YOKOI, Nagoya Gakuin College).
(Yoshiharu SHIMIZU)

40

JAPAN FINANCE ASSOCIATION

The thirteenth national conference of the Japan Finance Association was held at
Waseda University, Tokyo on October 28 and 29, 1989 to discuss "The Deregulation of
the Financial Markets in Japan and Its Effects on Corporate Finance, Theory andPractice" as well as a variety of other topics. Fifteen stimulating papers were presented
by young financial economists from various organizations in five sessions. There wasalso one panel discussion.
Three papers were presented in the first session. These were Shuichi MATSUDA(Waseda University), who had worked as a certified public accountant, reported someof his own experiences in "Finance Strategies of Up-And-Coming Enterprises," Kazuto
OSAWA (The Japan Bond Research Institute) developed his ideas in "Asset Financefor Restructuring Balance Sheet Strategies of Financial Institutions." Susumu SAITO(Ibaraki University) explored "Growing Competition in Funds Investment andPerformance Evaluation."
For the panel discussion the speakers from the first session acted as the experts andthey were questioned vigorously by members from both the academic and the businessworld. The moderater was Katsunosuke MOROI (Aoyama Gakuin University).
The session number 2, under the guidance of Kunio ITO (Hitotsubashi University)
there were four reports from:
Akira USUI (Niigata University) "Disclosure Decisions by Initial Public Firms"
Tomoaki SAKANO (Waseda University) "Stockholder Reactions to Management
Changes"
Hiroshi MARUYAMA (Yokohama Municipal University) "The Power of Tests on
Effects of Accounting Information"
The chair person of the third session was Rin-ya SHIBAKAWA (University ofTsukuba), and reports were considered as follows:
Kazuo Y OSHIDA (Ph. D. Student, Nagoya Municipal University) "Corporate
Pension Policy and Labor Union"
Lin Yu ZHAI (Ph. D. Student, Kyushu University) "The Firm's Ownership,
Financial Policy, and Investment Decision"
Takamasa CHIKAZAWA (Kinki University) "A Consideration on the Generalityof the Private Plan in the Prediction of the Stock Price"
The third session was chaired by Michio KUNIMURA (Nagoya Municipal
University). And contributions were made by
Hiroshi SHIRAKAWA (Tokyo Institute of Technology) "Bond Option Pricing
Based on Poisson Diffusion Type Forward Rate Process"Keiichi KUBOTA and Nariyasu ITO (Musashi University) "Arbitrage andHeterogeneous Beliefs with Differential Information in Capital Markets"
Mamoru AOYAMA (Yokohama National University), Tomohisa SAITO and
Takashi ONODERA (Nikkei Data Bank) "The Performance Evaluation of Stock41

Investments"
Shozo ICHIMURA (Kyushu University) chaired the fourth session, and thereporters were:
Harumi NOMURA (Ph. D. Student, Meiji University) "Stock Issuing at theMarket Price of Nippon Gakki and Modern Formation of Stock Value"
Tsuneo Leo ONOZAKI (Obirin University) "The Significance and Evaluation of
Junk-Bonds Transactions"
Hiroshi MIZUNO (Fukuoka University) "An Integrated Model of Corporate
Finance and Investment"
At the end of the conference, which had been notable for the splendid, vigorous
and informative discussions, all the participants felt that they had had, especiallyperhaps because of the interplay of ideas between the academic and business world,
fruitful two days.
The 1990 meeting will be held at Kyoto University on October 27 and 28, 1990.
(Kiyoshi OGAWA)

42

JAPAN ACADEMY FOR FOREIGN TRADE (JAFT)

The Japan Academy for Foreign Trade held its 29th annual general meeting at the
Nagoya University of Commerce and Business Administration on May 13 and 14, 1989.
The common theme of discussion was "Foreign Trade and International Business in theAge of Advanced Informational Society."
Chaired by Ryohei ASAOKA (Waseda University) and Jun NAKAJIMA (Kobe
Municipal College of Foreign Studies), the common theme session opened with a paper
entitled "Toward Computer Assisted Instruction," which was read by Akira
KINOSHITA (Kinki University). Reporting on his experiment of a personal computer(PC) system at his university, he pointed out that a PC system could help developinterdiciplinary education programs, while warning against hopes for a revolutionary
improvement in educational results. To his presentation, Tooru KANEGAWA (Osaka
Gakuin University) made a pertinent comment.
The second presenter, Ahnshik KIM (Korea University of Foreign Studies) readhis paper, "A Documentless Trade in the Informational Society." The replacement of
conventional shipping documents with electronically transmitted data arouses concern
about the security of foreign transactions in goods. He examined the views of British
and Scandinavian experts and concluded that documentless trade should be addressedwith a step-by-step approach.
Masanori MORIOKA (C. Itoh & Co.) praised the paper adding that thelegalization of electronic signatures depends on participating nations' willingness torevise their domestic law and also on a change in the minds of the people accustomed
to the long-established practice of trade.
Masanori SHIKIBA (Mitsui Bank) presented his paper entitled "Trade AccountSettlement and International Financial Network." He gave an overview of interbank
data communication systems now being used, with a detailed examination of theSWIFT (Society for Worldwide Interbank Financial Telecommunication) Network for
settlement of international accounts. Masao KYUNO of Seinan Gakuin University
made a favorable comment on SHIKIBA's presentation.
The common theme discussions gained in depth and scope with the help of alecture delivered by Masaru NAKANO (Bank of Japan), who spoke on the monetary
authorities' stance on the "Globalization and Network of International Finance."
At free theme sessions, eleven papers were presented including the following.
Akihisa YAMADA (Yokohama College of Commerce) read his paper entitled"Triangular Trading and International Marketing— An Approach to the Equilibrium

Theory of the Japanese Style of Cobweb Networks." Masataka OHTA (Toyo Women'sCollege) gave his paper on the "Development of Global Communication Networks and
Its Impc}ct on Communication Function in Foreign Trade," stressing the importance ofa functional approach for better human communication in international business.
Hideki YOSHIOKA (Nihon University) gave his paper on "Service Trade and43

Tourism," pointing out that the self-centered behavior of Japanese tourists is invitingsome criticism abroad and that a comprehensive policy should be established toencourage foreigners' visit to Japan as well. And Araki MATSUMOTO (Takasaki City
College of Economics) presented his paper entitled "Trends and Problems of Foreign
Trade under the Impact of International Tourism."
Tatsuyuki OHTA (Nagoya University of Commerce and Business Administration)
reported his findings in "Foreign Direct Investment in the Electronics Industry and a
Changing International Division of Labor — the Case of Japanese Invesetment in the
Asian NIES." He concluded that a new pattern of international division of labor seems
to be emerging in the electronics industry and that Japan should extend technologicalcooperation to Asian NIES for further development of the area. Y ukio KATAOKA(Hiroshima College of Economics) presented his paper on China's Trade System
Reforms.
In a separate session, Katsuki NISHIDA (Kumamoto University of Commerce)
offered his paper on "A Consideration on the Multilateral Framework Conducting a
Liberalization of Trade in Services."

Shinji HASEGAWA (Kobe University)

expounded on "A Theory of International Network between Firms: Internalization vs.
Externalization," with an analysis of multinational corporations' tendency toward
transactions both inside and outside their organizational structure. Seiichi NAKAJO(Osaka City University) presented his paper: "Sophistication of Hedging Techniquesand Strategy of Foreign Exchange Operation." Finding that Japanese businesses havebeen rapidly developing advanced techniques of exchange risk control, he stressed theneed for further studies on such matters as training experts, information gathering andorganizational shake-up.
Keiji

KASUYA(Kokushikan

University)

gave hispresentation

"On

the

Protectionism and the Managed Trade," with a close study on America's managed tradein wheat. Haruo ITO (Seinan Gakuin University) read "The Transformation of
OPEC," taking a look at the OPEC nations' fight against falling prices and stagnant
demand for oil.
It was unfortunate that sudden illness kept Hiromoto TODA (Japan Iron and SteelFederation) from reading his paper: "High-Tech Trade and Intellectual Property
Rights," which would have been of great interest to participants.
JAFT members had the pleasure of welcoming a group of observers from theRepublic of Korea's Academy of Foreign Trade. It is expected that the two academies
will develop closer relationships in the years ahead.
The 30th general meeting will be held on May 12 and 13, 1990 at Waseda
University in commemmoration of JAFT's 30th anniversary. The common theme is"International Trade in the 1990s: Market Opening and Unification." With drasticchanges now taking place politically and economically in Europe, this meeting will be
full of excitement and enjoyment for all participants.
(Norio AOYAMA)

44

THE JAPANESE SOCIETY OF INSURANCE SCIENCE

The 1989 general meeting of the Japanese Society of Insurance Science was held on
October 21 and 22 at Kagawa University. The common subject was'The problems
concerning the mutual companies.' The chairman of this symposium was Ryo
IWASAKI (Osaka City University), who introduced four reports from Kazuya
MIZUSHIM A (Kobe University), Hideaki OTSUK A ( Waseda University)、
Junzo TANAKA (Mitsui Mutual Life Insurance Company/Institute of Actuaries),
and Yuichiro TAMUR A (Himeji Dokkyo University). As far as the insurancecompanies in Japan which adopt the organizations of mutual companies, there are
two non-life insurance companies and sixteen life insurance companies. Therefore,
the problems about mutual companies are mainly equivalent to life insurance.
The following is the outline of the symposium on that day.
Mutual insurance is both a new and an old problem. Which is better for theindustry to progress through insurance business, joint-stock company or mutualcompany? The practical terms they are not distinguishable and since their technicalfoundations are the same, it is better for the national economy to let them competewith each other. Historically speaking, mutual insurance has been developed as a non­profit making insurance as against commercial insurance (in France during 18-19
centuries), and Daiichi Mutual Life Insurance Company is the first company that has
been founded to realize the ideal of mutual insurance.
The essential characteristic of a mutual corporation is that policyholders as
members can take part in its management. Though, in theory, decision-making is doneat the representatives of policyholders' meeting, it does not necessarily function as
intended. For example, in the biggest society the number of policyholders, ormembers, is as much as ten percent of our population. Although the system of therepresentatives of policyholders' meeting is legally recognized and the rights ofmembers exist, there are some doubts as to whether management of a company canreally reflect the demands of ordinary members. The four panelists ultimately andunexpectedly concluded that the system now in force does not work to the good ofmembers, or policyholders.
Perhaps it is unrealistic to expect the entire revival of autonomy of members inmutual companies as MIZUSHIMA asserts. 'Reports of society for insurance
problems' published on March 26, 1989, proposes the following remedies; howmembers should choose their representatives, the system of observation for the
representatives of policyholders'meeting, directors outside a company, conversion into
joint-stock company, etc. He also insists that manager control is unavoidable from thehistorical development of mutual companies. Management must develop priorities
which do not always consider the profit of policyholders. Present day characteristics ofmutual companies are based on management policy which takes priority over the profit
of policyholders. Whether matters work out well or ill for the policyholder depends on45

the manager's attitudes.
From the point of jurisprudence, OTSUKA explains the change of strict non­commercialism at mutual companies in France, emphasizing that we should recognizethat the concepts have been changed between the ideology of mutual companies andthe actual contemporary mutual companies. He attempted to reconstruct thetheories — necessity of raising funds for mutual companies, legal natures of the fund,problems about introducing borrowed capital, and so on — which lay behind the changeof ideology of a mutual company. In the end the conference decided that in general
althoughtheconsumers — in thiscase policyholders — shouldplay apartinmanagement, this is very difficult to achieve and that consumers in fact are merely
observers at the representatives of policyholders' meeting.
TANAKA introduced the reports of American Academy of Actuaries and gave theoutline of the New York State's Mutual Company Law revised on September 1, 1988.
He emphasized how the American system deals with surplus formation in mutualcompanies, and added that the rights of the members in the United States were rather
limited and that they were not recognized as being the owners of a company. These
were some comparisons possible between the position in Japan and in the UnitedStates. Further, he insisted on the fairness of distributing the surplus between thegenerations of the policyholders.
TAMURA also compared Japanese and the U.S. mutual companies and in
addition looked at the mutual company and joint-stock company. In the United States,
people have been attempting to improve the working of mutual companies for 150
years, but there seems to be no effective way of ensuring the manager control ofmanagement. In Japan these matters should be discussed. The representatives ofpolicyholders'meeting represents the policyholders who ought to be responsible forparticipating in the management by exercising their rights,

but unless somepolicyholders decide to intervene nothing will be done. The representatives ofpolicyholders' meeting is merely a'rubber-stamp', and that even a vote of confidence isonly a smoke screen to hide the responsibility of management. Further, what of the
manager who is pleased to leave things dormant and has developed the management as
he pleases. Neither the insurance council nor the supervising government office wants
to disturb the status quo.
This symposium made clear the difficulties facing any policyholder of a mutual
insurance company who decided to use his rights, as enshrined in law, to influence thepolicy of the company. The conference had several stimulating and exciting discussions
on this series of intractable problems.
On October 20 and 21, the 1990 general meeting is to be held at Tokyo
International University in Saitama Prefecture.
(Takatada IMAIZUMI)

46

THE JAPAN SOCIE TY OF IN TERNATIONAL ECONOMICS

The 48th annual meeting of the Japan Society of International Economics was held
at Chuo University, Tokyo on October 14 and 15, 1989. Thirty-one papers were
presented in eleven sessions, in addition, one panel discussion was held.
The theme of the panel discussion was "Technological Innovation and the World
Economy", and three papers were presented. In his paper entitled "Dynamics ofinternational monetary system and technological innovation", Shozaburo FUJINO(Hitotsubashi University) found that price movements since 19th century had beenclosely related to the dynamic shifts of international monetary system. He insisted thatsuch major changes were triggered off by technological innovation which lead to radical
changes in comparative costs in the core countries which amounted to an "industrial
revolution". He concluded that an adjustment of the international monetary system
was inevitable in response to this kind of structural change.
Takushi HAYASHI (Fukuoka University) spoke on "International competition,technological innovation and monopoly". He discussed the advantage for R&D in an
intensive multinational enterprise in the international competition can be attained inpursuit of the technological monopoly and governance.
The third paper in the panel, entitled "Technological development in aninternational setting", was presented by Masaru SAITO (Chuo University). He argued
the global mechanism and structure of the technology development, suggesting
Japanese contribution to establishing technological innovation system. The problem
how to maximize the ability to develop the technology in the global economy was
discussed in his N-R relation (Needs of and Resources of technology development)
model.
Similar issues were examined in the following papers; "Organization and structurein the American and Japanese semiconductor industry" by Hitotaka OKADA(International University of Japan), "Expansion of trade in high-technology,
Destabilizing the world economy?" by Hirohiko SHINPO (Nara Sangyo University),and "Trade, industry and management strategy-The Canadian automobile partsindustry" by Yoshiro HATSUKADE (Central Institute of Electricity) and Masazumi
KUBOTA (The Industrial Bank of Japan).
(Toshiaki HASEGAWA)

47

THE JAPAN SOCIETY OF MONETARY ECONOMICS

The 1989 bi-annual general meetings of the Japan Society of Monetary Economics
were held at Meiji University on May 27 and 28, and at Kwansei Gakuin University on
October 28 and 29.
In the Spring meeting, in addition to the presidential address, nineteen papers were
presented at nine sessions. Nine out of nineteen papers were theoretical, and the others
were mainly on financial system reform and monetary policy. It is noteworthy thattheoretical papers applying information theory as a new analytic tool were presented.
The panel discussion titled "What Is Money? — In Relation To The Developments
in Financial Systems — " had three speakers and two commentators. The first speaker,
To�hio MURAI (Chukyo University) considered definitions of money in terms of its
functions using a Hicksian functional approach. Then, following D.H. Robertson's
taxonomy, he classified money as exogenous, "money sitting", and endogenous,"money on wing" from the standpoint of its influences on the real economy. He pointed
out that in the course of recent changes in the financial system, new financial assets,
which function as a means of payment to some extent, have been created, and thedistinction between these assets and money have been blurred. He concluded thatthese developments would make "money on wing" more important than "money
s1ttmg.
Takuji SHIMANO (Gakushuin University) discussed international currency and its
ramifications. This topic will become very important as financial globalization is
evolving further. Having examined this theme in detail, he concluded that it is
impossible, under the flexible exchange rate system, for any single currency to satisfy
all three necessary conditions for international currency: general acceptability, financial
easiness and conveniency as a store of value.
The last speaker, Shuntaro NANBA (Bank of Japan) considered the functions ofmoney in relation to monetary policy. He pointed out that it is the settlement system,
including the money supply mechanism, that supports the settlement function of cash
currency and that the central bank guarantees all the participants against system risk
through acting as a lender of last resort for them. But he predicted that the recent
development of settlement by cards based on electronic innovations would drasticallyreduce the demand for cash and cashless settlement would become more common. He
concluded his arguments by saying that it is very important to investigate all possible
impacts these phenomena could have on the information-conveying function of moneyand financial transactions as a whole.
In the fall meeting, one special lecture, the presidential address, and twenty-four
papers were presented, in addition to two panel discussions. The title of the first panel
discussion was "Changes in the Financial Environment and Financial Institutions".
Kazuaki HARADA (Sanwa Economic Research Institute) favored the universalbanking system as the future financial system of Japan. Kimiaki KINOSHITA

48

(Yamaichi Securities Company) objected to HARADA's view on financial reform. He
raised some objections about possible negative effects from introducing universalbanking, such as conflicts of interest and impediments to competition caused byexcessive concentration of economic power in banks. He insisted on keeping thecurrent statutory distinctions between the banking and securities businesses.
Choitsu TAKAHASHI (Sumitomo Trust Bank) agreed with current moderate
financial reforms. However, he criticized the disproportionate emphasis on adjustments
of inter-industry conflicts and the resulting disregard for the financial needs of theordinary consumers in the present discussions of financial system reform. Shiro HARA
(Yokohama Municipal University) provided a summary of the discussions at Financial
System Research Council (an advisory committee to the Finance Minister), andemphasized the necessity of basing regulations on a "financial transaction law"; not, aspresently done, on financial business law. He also pointed out the importance ofregional finance to realize a balanced development of the Japanese economy.
T he title of the second panel discussion was "Changes in the Financial
Environment and Monetary Policy". Kunio OKINA (Bank of Japan) analyzed thepossible influences of securitization and globalization on the conduct of monetary
policy. Motoo KUSAKABE (Ministry of Finance) discussed recent liberalizations ofmoney markets and a new financial adjustment method introduced in November 1988.
Although he considered the new method effective, he thought that it still shows someroom for improvement. Kenji TAKECHI (Ministry of Posts and Telecommunications)summarized the effect on postal savings, and the response of postal authorities tofinancial liberalization. He emphasized the importance of the Postal savings system inpersonal and regional finances.
Ryoichi MIKITANI (Kobe University) divided the changes in the financial
environment into international and domestic ones and discussed their influences on the
conduct of monetary policy from a long-run perspective. He concluded that if thosechanges impede the financial markets'ability to operate, the financial system must be
reformed so that monetary policy can pursue its own ultimate goals.
(Fumihiko HIRUMA)

49

THE ACADEMIC ASSOCIATION FOR ORGANIZATIONAL SCIENCE

The association was established in 1959 for those organizational researchersinterested in interdisciplinary approaches. In 1989 there were two national conventions
as well as seminars by two branches. The first national meeting with a focus on
members'own optional studies was held June 17 - 18, 1989 at Nara College, while thesecond national convention was held October 7 - 8 at The University of Tokyo.
Among a variety of papers we heard two memorial ones at the Nara meeting.
These were "A further look at the Uniqueness of Japanese Management" by Kenichi
TOMINAGA (The University of Tokyo), and "The Theory of PM Leadership ーRetrospect and Prospect ー " by Juji MISUMI (Nara College). TOMINAGA criticizedJapanese management as traditional and conservative and resistant to modernization.
MISUMI, who has long been engaged in empirical researches on leadership behavior,gave a fascinating insight into his own work.
The following eleven papers were presented at the Tokyo meeting under a common
theme of "Information Technology and Organization".
(1) "The Impact of Information Technology on Business Organizations" by
Moriaki TSUCHIYA (The University of Tokyo).
(2) "High Grade Information Society and Organizational Innovation" by
Yoshikazu NI\\'.AMOTO (Osaka College of Commerce).
(3) "Context-bound Rationality" by Teruya NAGAO (Kanda College of Foreign
Studies).
(4) "Information, Information Processing, and Self-Organity: A System of Basic
Categories" by Tamito YOSHIDA (The University of Tokyo).
(5) The Challenges of New Information Technology in the Manufacturing
Industry" by Masakatsu HOSODA (Nihon Seiko Inc.).
(6) "Organizational Intelligence Paradigm for Assimilating Information
Technology" by Takehiko MATSUDA (The Sanno Institute of Management).
(7) "Information Technology and Organizing" by Isao NAITO (Nagoya
University).
(8) "The Impact of Information Technology on Organizations: Information
System Organization and End User Organization" by Tatsumi SHIMADA(Yokohama College of Commerce).
(9) "Microelectronic Technology and Organizational Structure of BusinessEnterprise" by Koji OKUBAYASHI (Kobe University).
(10) "Management Strategies in the Software Development Industry: Direct
Control or Responsible Autonomy?" by Keisuke NAKAMURA (Koyo
Shokugyo Sogo Kenkyusho).
(11) "The Essential Factors of lnformatisation" by Yasuyuki MATSUDA (PharmaInc.).
TSUCHIYA outlined the principal aspects of the theme, and argued that the50

development of computerization from MIS, SIS to EDI had automatized thetransaction within and between firms on the one hand, though human intervention to
improve and to innovate was also essential on the other hand.
The next three papers pointed out and refined theoretical problems. Y OSHIDA
defined self-organity as resource/resource processing controlled by a certain
information/information processing and vice versa, and distinguished four processes
and five types of self-organity. MATSUDA attributed the insufficiency oforganizational assimilation based on the present information technology (computer andcommunication) to the lack of a new organizational paradigm. Thus he advocated anorganizational intelligence paradigm which covered the interaction and coordination
between human intelligence and machine intelligence. This can be interpreted an
assertion toward a comprehensive organizational model of adaptability. NAITO
maintained that the information technology as such facilitated the organizational
stability (adaptation), so that the information technology was to be utilized as a means
to enrich the human cognition in order to encourage organizational flexibility(adaptability) as well.
Finally five papers were empirical studies. SHIMADA analyzed the effects of theinformation technology on the information system department and the end user
department in terms of hierarchy, span of control, autonomy, and decentralization, etc.
OKUBAYASHI made clear the trend toward the polarization of work organizations(mechanical vs. organic) and management organizations (pyramidal vs. flat) as theeffects of microelectronics.
The association published a quarterly journal of Organizational Science in the
1989-1990 academic year. Specific themes were: Group, Organization, and Social
Network, Japanese Management in the Overseas Countries, Crisis Management, andInformation Technology and Organization. The 1989 Takamiya Award (The
Association for Organizational Science Award) was given to Tamio HATTORI (Asian
Economic Research Center) for his book, Development of Management in Korea(Bunshindo Publishing Co., 1988).
(Tamiki KISHIDA)

51

JAPAN SOCIETY FOR PERSONNEL AND LABOR RESEARCHIn 1989, The Japan Society for Personnel and Labor Research held its annual
meeting from June 1-3 at Niigata University. The main theme of the meeting was"The Progress of lnformatization and Internationalization, and the Diversification of
Employment Relations". The following six papers were presented at a symposium
which was the main event of the meeting.
1.

"Part-time Labor; A Comparison between West-Germany and Japan." by Bettina
Post KOBAYASHI (German Institute for Japan Studies).

2.

"Temporary Employees in the Information Service Industry with Special A ttention
to Software Engineers" by Takashi KEIYA (Osaka Gakuin University).

3.

"The Diversification in Employment Relations and Future Responses to It" by
Yoshio KEIYA (Iwaki Meisei University).

4.

"Changes in the Employment Environment and the Consciousness of Union
Leaders" by Michio FUJIWA RA (Nanzan University).

5.

"The

Development

ofInformatization

andInternationalization,

and

the

Reformation of Personnel Management" by Shunsuke YANO (Tokyo University of
Science).
6.

"The Diversification of Employment Relations and the Economic Effect of Part­
time Employees: Dealing in Particular with Female Part-time Employees" by
Makoto SAKURABAYASHI (Teikyo University).
In a presentation of great interest KOBAYASHI reported on the current situation

as it applies to part-time labor in Germany and Japan, and about some of the legal
problems concerning this group of employees. In many cases in Japan, part-time labor
does not so much refer to the number of hours worked as it refers to a certain type ofstatus or positioning within the organization. Furthermore, she reported that as far as
the female workforce, the cheap-labor workforce, and the semi-skilled or unskilledworkforce are concerned there does not seem to be an improvement in the conditionsof employment.
In UMEZAWA's lecture, based on recent research, it was clarified that there is abroad usage of temporary employees within the information services business, which is
not limited to software engineers only, but also includes computer operators andpunchers.
A very interesting lecture on varying employment relations and the responses to it
by companies was given by KEIYA . He identified four major issues related to present
day personnel management.
1.

The establishment of harmonious relations between groups of employees who havedifferent status.
2.

The establishment of treatment of employees based on their capabilities as well as

business results.
3.

Development of the abilities of non-regular staff.

52

4.

The establishment of office regulations.
FUJIWARA reported on the attitudes of union leaders who have to deal with thechanges in employment relations. YANO's lecture was about the requirements of apersonnel system in relation to informatization and internationalization, which haveprogressed very quickly in the last few years.
In the last lecture, SAKURABAYASHI took issue on the matter of the salaries offemale part-time employees reminding his audience that the use of this kind of labor
greatly reduces costs resulting in a strengthening of the competitive power of Japanesecompanies.
The integrating theme of this conference was "Responding to the Need of theTimes", and although it was held in one of the outer prefectures, there was a goodattendance, resulting in lively and vigorous discussions between all participants.
We enjoyed and were impressed by the special lecture by Horst STEINMANN
from the University of Erlangen-Neurenberg called "The Industrial Organization
Dealing With Technology, Strategy and Corporate Ethics" (Industrielle
Arbeitsorganisation zwischen Technik, Strategie und Unternehmensethik").
(Kiyoshi KASAHARA)

53

JAPAN ASSOCIATION FOR PLANNING ADMINISTRATIONThis Association, which was organized in 1977 as a multidisciplinary forum
consisting of academic researchers, government planners and administrators andcorporate planners and decisions makers, aims to establish knowledge system onplanning science based on the feedback derived from real observation centering on realdecisions and the administrative processes and theory of planning.
The 12th Convention with the overall theme of "Public and Private Sectors in theCentral and the Local" was held in Tsu, Mie Prefecture. This was intended as the final
discussion in a series which has already examined "The State and Enterprise in theInternational Society" in 1987 and "Municipality and Enterprise" in 1988. The plenary
session was launched by a special lecture given by Saburo OKITA, our Honorary
Chairman, centering on international cooperation and the global environment. The
session was followed by a symposium considering town planning and town building
coordinated by Tatsuo ITO (Mie University). Hiroshi KATO, (Keio University),
Chairman of the Association, gave the keynote address considering the relationshipbetween the central government and local government. He stressed the need for bold
decentralization in order to strengthen local administration while at the same time
identifying the function of central government in relation to the development of policy
on a global scale.
A further eleven sessions were organised. These included regional transportation
planning, chaired by Akira KATO (Gifu University), regional information network,
chaired by Kimio UNO (University of Tsukuba), advanced information technology
designed for the city, chaired by Yoshinobu KUMATA ( Tokyo Institute ofTechnology), planning administration for remote areas, complementary structure tomarket mechanism chaired by Takashi FUJII (Nagoya University), urban management,
chaired by Shozo TAKAYOSE (Konan University), life enhancement chaired byMieko SATO (Institute for A&A Life Design), regional development strategy chaired
by Kozo AOYAMA (Institute for Regional Affairs) and the public and the private
sector in international development chaired by Yasuhiko TORII (Keio University).
The sessions for regional information network, advanced information for the cityand complementary structure to market mechanism were based on the results of study
projects organized by the Association. In particular, the study project for advanced
information technology for the city had held an international symposium every year
since establishment of the project in 1984. In 1989, a US-Japanese symposium on an
investment program to encourage better designed urban development and aninternational workshop on innovation to improve life in the city were held.
The Association has established a series of prizes and these were awarded for the
first time at this Convention. The selection committee, chaired by Tadao MIYAGAWA(Hitotsubashi University), awarded the senior prize to Hiroshi ICHIKAWA(University of Tsukuba) for his work on "The Social Welfare Burden in 2025". Priz_es
54to encourage further study were given to Kiyoshi ARAI, Toshinori NEMOTO andTsutomu NARA for "Development of SIMPLE-Delphi Method through Scenarios",
Naomi IKEGAMI for "The Allocation of Resources and the Effectiveness of Medical
Care" and Isamu KANEKO for "Urban Amenities for the Aged".
Various study workshops were held. In Sapporo, Hokkaido, in July 1989 there wasa discussion on Conditions for Success in Local Development Projects. In Tokyo, in
December 1989, these was a symposium on Planning Administration and Data Basecoordinated by Kimio UNO (University of Tsukuba) which demonstrated thedevelopment of data bases linked with the public telecommunication systems. In

Okazaki, Shizuoka Prefecture, a workshop on Local Planning for the 21st Century washeld in February, 1989. In Kyoto, the workshop on Urban Living in the 21st Century
was held in June, 1989. In Kyushu, two workshops one on Public Administration
related to Local Development and one on Effects of modern changes on Local
Development were held respectively in February and July, 1989.
New study projects on the management of the global environment, new economic
systems, the improvement of the q叫ity of life, defusing conflict in regional
development and international cooperation are to be undertaken in 1990 following last
year's Convention.
The Association publishes a study series on planning administration. Town
Planning for the Future: The Human Dimension edited by Hiromu KAJIWARA (Gifu
Prefecture) was published in February 1989.
(Akira KINOSHITA)

55

JAPAN SOCIETY OF POLITICAL ECONOMY

The 37th annual conference of Japan Society of Political Economy was held at
Kobe University on 21st and 22nd October 1989. We celebrated the 30th anniversary of
our Society in an evening party on 21st. There were 10 sessions with 23 reporters until
noon on the 22nd. Thereafter we had a plenary session on 'The Contemporary
Significance of the Labour Theory of Value', which was the common theme for thisconference. There were two reporters in this session; Shigekatsu YAMAGUCHI (The
University of Tokyo) spoke on'A Proposal for a Wider Concept of Value', and Nobuo
OKISHIO (Kobe University) on 'The Main Propositions in the Labour Theory ofValue and the Issues of Our Age'.
YAMAGUCHI distinguished a narrow and a wide concept of value. In thecommon terminology among Marxian economists, the notion of value refers to 'an
average sample'of each kind of commodity, in which a certain amount of abstract
labour is embodied in the social average conditions of production. According to
YAMAGUCHI, this concept of value is too narrow to be applicable to the changing
processes of competitive market or of technological conditions, or to the commodities
not produced by labour such as labour-power, land , etc.. A wider concept to define
value as exchangeability of a commodity or its power to exchange with othercommodities is thus necessary in order to make our value theory more useful. The
narrow concept of value in a common terminology relates just to the gravitational
center in anarchical fluctuation of value in a wider sense (or price) for commodities
produced by labour. From this point of view, certain kinds of service labour can surely
be a source of value. And the substance of values as quantities of abstract labour
appears as a result of capitalistic organization of social labour-process with historicallyspecific efficiency for the value forms in a market.
OKISHIO initially presented 10 main propositions in the labour theory of value.
These included following points. Human productive activity that is labour, is expended
on external nature as well as on persons who are a part of nature. Social division oflabour with private ownership of the means of production is a sufficient, not anecessary, condition for labour products to take a commodity form. We need notpresume equal exchange of (labour) value in order to prove that exploitation of thesurplus labour of wage workers is necessary for capitalists to obtain positive profit. The
cumulative process of disequilibrium, which causes business cycles, is a result, not ofcommodity production in general, but of a special way of capitalist decision making foraccumulation and a resultant tendency for underconsumption of workers. Relating tothese points, OKISHIO also discussed three contemporary issues. Firstly, service
labour which is expended on persons produces value and surplus value in the capitalist
commodity economy, just as industrial labour. Secondly, although not realistic, a fully
automated system of social reproduction without any living labour is logicallyconsonant with a positive rate of profit. Capitalistic contradictions in the process of56

spreading automation systems is therefore not in the danger of disappearance of profit,
but in the other problems including unemployment and ecological dangers. Thirdly, asocialist society with social division of labour, which is not based upon private
ownership of means of production, can and must have a commodity market as a path toexpress individual preference for various sorts of commodity products, in addition toother channels of social decision making. This is theoretically possible without causingbusiness cycles unlike in a capitalist economy.
On these two presentations, two panel discussants Saiichi MIYAZAKI (Tokyo
Women's Christian University) and Yasuhiko Y ONEDA (Chuo University)commented, pointing out such problems as the basic task of the labour theory of value,
its applicability and relevance to the theory of capitalist competition, service labour,
the effect of ME information technologies, and a socialist feasibility to combine amarket system with planning. After brief replies by YAMAGUCHI and OKISHIO tothese points, the general discussion followed. Five member participants presented
comments and questions on the basic concept of value, six on the contemporary
capitalism and the labour theory of value, and four on socialism and the labour theoryof value. On each of these topics YAMAGUCHI and OKISHIO replied in turn.
This plenary session was chaired by Makoto ITOH (The University of Tokyo) andKoji MORIOKA (Kansai University). The main reports by YAMAGUCHI and
OKISHIO and the summary record of the subsequent session as well as the whole
programme of this conference will appear in the next issue of The Bulletin of Japan
Society of Political Economy, 27, (Tokyo: Aoki-Shoten, 1990). From this issue, theBulletin will change the editorial policy and will newly publish articles which arecontributed openly by members of the Society, and are read by referees.
The next annual conference of Japan Society of Political Economy will be held at
Kanagawa University on 13th and 14th October, 1990. The common theme for its
plenary session is to be'Capitalism and Socialism' .
(Makoto ITOH)

57

THE POPULATION ASSOCIATION OF JAPANThe Population Association of Japan was founded in 1948 with the aim ofencouraging multidisciplinary studies of demographic phenomena. The Association
holds a general conference every year and publishes an annual journal, "Jinkogaku
Kenkyu" (The Journal of Population Studies).
The forty-first Annual Meeting was held at Aizu-Wakamatsu Civic Center in Aizu­
Wakamatsu City from June 2 to 3, 1989, under the chairmanship of Kenji UTSUMI of
Fukushima Prefectural Aizu Junior College (FPAJC). The program included a
symposium, two special sessions and general sessions.
The symposium entitled "Japanese Families in the Twenty-First Century" wasorganized by Shigemi KONO (IPP: Institute of Population Problems), with Minoru
MIYAK AWA (Tokyo Christian Women's College) as chairman.
In the first report entitled "Changes in Family Patterns", Makoto ATOH (IPP)
reported on the long-term trends since the Meiji Restoration in the demographic, socialand economic bases of Japanese families. He presented four family issues currently
facing the Japanese, whether to get married or not, whether to have children or not,and if they had, how many? Whether the conjugal relationship should involve a leader­follower or be an eq叫partner arrangement and whether the generations should be
dependent or independent.
Hiroaki SHIMIZU (IPP) reported "Regional Differences in Family Structure," inwhich he pointed out that there was a big difference in family structure between
Tohoku & Hokuriku regions and Shikoku, Kyushu and the large-metropolitan regions.
He mentioned that the proportion of the elderly who lived or wanted to live in the
nuclear family household is much lower in the former than in the latter. Based on his
own retrospective survey data he also showed the regional difference in the long-termchange in household types.
In the third report, "Japanese Family Changes, Some International Comparisons",
Yoshiro TSUBOUCHI (Kyoto University) noted, from the perspective of social
anthropology, the danger of generalizing about the family as a unit. He discussed fiveissues now emerging in the contemporary Japan, namely, (1) ambiguities of distinction
between families and households, (2) the degree of the independence of households interms of living expenses, (3) changes in marriage as an institution, (4) the increase in
those who prefer to remain single and (5) variations in generational residential
patterns. Hiroshi KOJIM A (IPP) and Noriko TSUYA (Nihon University) were thediscussants for these three reports.
Yoshikuni ISHI (Josai University) organized Special Session A, entitled"Population and Population Thoughts in Eighteenth Century Europe", which was held
under the chairmanship of Tadao YOSHID A (Meiji University).
Kenji UTSUMI (FPAJC), in his report "Siissmilch's Population Thought",
emphasized the contemporary significance of the ideas of Siissmilch on population
58

expansion from his book, Divine Order, while comparing his own with other scholars'evaluation of the book.
In his report entitled "Demographic Background of Eighteenth Century," Tsuyoshi
HARA (Josai University) described the general population trends in Western Europe
between 16th and 18th century. He pointed out that, while European population
stagnated in the 17th century, with regional variations, due to the prevalence ofpreventive checks and the shortage of food, it started to grow in the 18th century
mainly due to the end of the great famine.
In his report, "Siissmilch's Divine Order and its Ideological Background," Minoru
OKADA (Chuo University) compared Siissmilch's view with other European views on
population, such as Cantillon, Quesnay, Mohean, Necker, and Malthus. The following
points emerged: (1) Ideas on the relationship between the growth and equilibrium of
population, (2) arguments on the leading sector for achieving economic growth andpopulation growth, (3) the consequences of international trade on population growth,(4) the effects of overconsumption on population growth, and (5) the relationshipbetween population growth and standards of living. Hiroshi OHBUCHI (Chuo
University) and Hiroyuki KANEKI YO (Meiji University) were the discussants.
A Special Session (B) on "Frontiers in Studies on Mortality and Morbidity" washeld under the chairmanship of Tsuguyoshi SUZUKI (The University of Tokyo), with
Kazumasa KOBAYASHI (Nihon University) as organizer.
In the first report, Methodological Issues in the Analysis of Health and Mortality
Statistics, Kyo HANADA (IPP) and Seiichi INAGAKI (Ministry of Health andWelfare) described the revised survey system (1984) of the Ministry of Health andWelfare on health and mortality. With the aim of the full utilization of the existing
survey data, they raised several analytical issues, such as the analysis of long-term
trends in vital statistics drawing on the use of individual data, the analysis of therelationship between socioeconomic conditions of households and their members
drawing on regional data, and the application of such a new demographic model as themulti-state life table.
In the second report, "The Effect of Fertility on the Prevalence of Diabetes,"
Motofumi MASAKI (Showa University) reported that there were no significant
relationship between fertility and the prevalence of diabetes for women aged 20 orover, drawing on the epidemiological survey of Chicano based on U.S. data. He
presented this study as a typical example of the studies based on micro-approach tohealth issues.
In the report entitled "Parametarized Model Schedule of Mortality for Japan by
Causes of Death," Zenji NANJO (Tohokugakuin University), Takao SHIGEMATSU(Fukuoka University) and Kazuhiko YOSHINAGA (Fukuoka University) reported
the results of the application of two parameterized models, namely the U.N. model andthe Colorado model developed by Rogers, for mortality schedule by age, drawing onlife tables for Japan constructed between 1891 and 1987. They mentioned that thesemodels worked fairly well for a general age schedule of mortality but not for the age
schedule of mortality by causes of death. The two discussants were Shigesato

59

TAKAHASHI (IPP) and Masato KATSUNO (Institute of Public Health).
(Makoto ATOH)

60

THE JAPAN INSTITUTE OF PUBLIC FINANCE(Formerly: JAPANESE ASSOCIATION OF FISCAL SCIENCE)
The 46th annual meeting of the Japan Institute of Public Finance was held at
Kagawa University on October 14 and 15 in 1989 and reflected the recent concerns on
tax reform and its international comparison. There were three themes, "Consequences
andPerspectives

of

Tax

Reform","International

Comparisons

on

the

Intergovernmental Relationship" and "International Comparison of Capital Gains
Taxation", on which eight papers were presented. Eighteen additional papers were
presented on other themes.
In the first session, under the first theme there were three papers. Akira
UCHIYAMA (Kyushu International University) analyzed Prime Minister Thatcher's
Tax Reform between 1978-1988. He pointed out two main features, that the tax
burden has been'flattened'and that the whole system has been shifted from direct toindirect taxation. He concluded that this Tax Reform was instrumental in promoting
U.K. capital accumulation as global trends and capital liberalization. Hiroyuki
TO TANI (Osaka Sangyo University) and Hiroaki HAYASHI (Yokkaichi University)

analyzed the effects of the Japanese corporation tax reform on the individual
household, classifying levels of income and age. Following Harberger and Feldstein,
they assumed that the incidence of the corporation tax arrived at capital income.
Minoru ANDO (Shizuoka University) and Hisashi SEGAWA (Shizuoka University)
attempted a simulated quantitative study of the effects of the Japanese Tax Reform,
especially on local government. They noted that the reform could be detrimental tolocal government and communities, and concluded that this negative effect would shift
the incidence of the tax to local residents, distorting their fair share of the tax burden.
In the second session, three papers were reported under the theme of"International Comparisons on the Relationships of Governments". In her case study,
Noriko KAWASE (Osaka City University)

analyzed the restructuring of therelationship between the state and the local governments in New York State under the
New Federalism, concluding that state aid to local government when in financial crisis
strengthened state control. Masanori TAHIRA (St. Andrew's University) estimated theefficiency of local government expenditures and the effects of their redistribution. With
the emphasis on theoretical sophistication, he estimated welfare levels of Japanese local
communities, specifying the optimal condition of his model and the relationshipbetween expenditures as inputs and services as outputs. He also compared the resultswith the empirical data prepared by other researchers. Ichiro NATOMI (Saga
University) explained how intergovernmental relationship in Japan were changed
because of low growth rates from the latter half of 1970s. He pointed out that financial
restructuring of central government led to the transfer of some administrative rights tolocal governments.
Finally, in the third session , two papers were presented under the theme of"Capital Gains Taxation: approaches to international comparison". Junichi FUJIOKA

61

(Kochi University) reported on capital gains taxation in Sweden. He noted that capitalgains taxation was strengthened while earned income tax was reduced and that various
kinds of capital income would be treated equally. Keimei KAIZUKA (The Universityof Tokyo) analyzed the problems of the capital gains taxation based on the OECD
report.
(Isao HORIBA)

62

THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICSThe Japan Society of Public Utility Economics was founded in 1949 with the aim of
fostering studies and investigations into public utilities from the political, economic andtechnical standpoints. We also hope to improve the general understanding of public
service, so that we can ourselves contribute to public welfare.
The main activities of the Society are to publish The Journal of Public Utility
Economics, (three times a year) and to hold, in addition to several regional meetings,
national annual conference. In this issue, activities of the regional sections are
introduced as special topics.
The Society has 396 regular members and 40 institutional members, the Kanto andKansai Sections were established in 1975, the Kanto Section has 290 regular members
and the Kansai Section about 106 members. Each Section holds research meetings andstudy tours several times a year.
This year's national annual conference at Senshu University from May 26-28, 1989
is a celebration because this year is our 40th anniversary. The main theme of theconference is "Public Utilities Under Conditions of Deregulation and Competition."
Under this heading the reports were as follows.
Nobuyuki SATOH (Asia University) read a paper entitled "A Reasonable Way to
Cover the Cost of Improved Public Service." " The Bus Traffic Rules" (Noriai Jidosha
Eigyo Torishimari Kisoku) issued in 1903 by Aichi Prefecture, is regarded as the firstattempt at car traffic regulation in Japan. It succeeded the previous rules for thestagecoach and the major purpose was to ensure the safety of both passengers andpedestrians. Granting a route licence, seems to have been a casual affair; But all thischanged when the Road Traffic Law (Jidosha Kotsu Jigyo Ho) was enacted in 1933.
This required a strict enquiry considering the protection of existing bus, railroad, andstreetcar companies, before a new route permission was granted. It is clear that thislegislation reflected the interests of the railroad and streetcar companies even when thebus services were running parallel with the railroad and streetcar lines.
Masato SHIKANO (Osaka Municipal Water Works Bureau) read a paper, entitled"A Reasonable Way to Cover the Cost of Improved Public Services." Increasing publicawareness demands high quality services from utilities whether private enterprise or
public corporations.
Since both private and public enterprises must make ends meet, and better service
usually means greater cost, the question arises — how should these costs be covered?
Who should share the burden of greater costs? Many factors need to be considered,including the nature of the service , do the improvements benefit, everyone? What are
the roles of the public service and the government, and the needs of the average
citizen?
This paper discussed the water supply system from the managements point of view.
If high quality water is supplied what are reasonable water rates and are government
63

subsidies necessary?
Jinjian QIAO (University of Tsukuba) "Management Problems and Authority in
Chinese National Enterprise": The first problem concerns the identification of theentrepreneur. Then, what is the relationship between him and the Communist Party
leadership? And what about labour's participation in management?
In recent years, economic reform in China has progressed both in relation to theseparation of ownership and management, and in relation to ownership and control. In
the process, however, other problems have developed which must themselves besolved.
(Ichiro MATASHIRO)

64

THE JAPAN SECTION OF THE REGIONAL SCIENCE ASSOCIATION

I. Domestic Conference
The 26th Ann叫Conference of the Japan Section of the Regional Science
Association (RSA) was held at Setsunan University in Osaka from November 25 to 26,
1989.
The main theme, with four reports, was "How to stimulate the Kansai Economy",after which a panel discussion was held. The first reporter, Kinji HIRAI (Osaka
Prefectural Government), talked of the negative factors impeding the Kansai economy
noting that it suffered deindustrialization because of the centralization of activities into
the Tokyo Metropolitan area. He doubted that the expansion of transportation,
telecommunication and the infrastructure generally, was sufficient to activate theeconomy. The second reporter, Yasuo SUZUKI (Osaka University), introduced an
econometric simulation model to analyzing the impact of the, Kansai New Airport. The
third reporter, Kazuo KURIYAMA (Kansai Economic Federation), said that theKansai economy could be and was going to be activated provided more decentralization
was allowed. The last reporter, Wataru ASO (The Ministry of International Trade andIndustry), posed the most interesting question by asking why the Kansai economy
should be activated? .Because this would only create an immense conurbation andbecome a second Tokyo. Was not the maintenance of the environment and its amenity
more important for the Kansai?
The fruitful and constructive discussions between the four reporters and the fivepanelists, Shogo KAWAKAMI (Nagoya University), Makoto NOBUKUNI (Saitama
University), Etsuo YAMAMURA (Hokkaido University), Yasuo SAKAKIBARA(Doshisha University) and Fujio OKAZAKI (Setsunan University) were greatly
appreciated by all participants.
The five common themes for the Conference were, "Environment", "Location
Analysis", "Regional Economic Analysis", "Land Price Analysis" and "Economic
Assessment". Four reports were given under each theme while a further four reports
were read as free themes .
The characteristics of the Conference could be summed up as follows. Firstly,
several researches directly connected with policies raised what are now known as"green" or environmental issues. Tatsuo KATAGIRI (Japan Association for Municipal
Administration) "Redevelopment of Regional Science" suggested the necessity toreform regional science so that it became world-wide and interdisciplinary so as toconserve the global environment. Mitsuo TERAMOTO et al. (Kansai Information
Center) "Economic Assessment of the MediaCity Osaka Plan" applied an econometricanalysis to assess a redevelopment plan for Osaka. Jun-ichi IKEDA (Osaka Urban
Engineering InformationCenter) "TheConcept of Sonic Urban Planning" argued thatnoise levels, which were very subjective, were increasingly thought to play animportant role in urban amenity.
65Secondly, some reports were based on large-scale modelling , which will still bevalid in regional planning although because of severe economic fluctuations, it has been
increasingly criticized. Toru OKAWARA (Electricity Research Center) et al. "TheDevelopment of a Nine-Region Econometric Model" to deal with Japanese regional
economies until 2005, based on the assumption that electricity was an essential
component of regional economies. Keizo YAMANE (Setsunan University) et al.
"Econometric Analysis of the Activation of the Kansai Economy following theDevelopment of the Airline Network" measured the effect of a new airport in Kansai(assuming adjacent to Kobe for domestic flight only) on the Kansai economy. Takaharu
MORISHIMA (University of Tsukuba) et al. "Dynamic Planning Model for Analyzing
the Development of a Farm Village" showed a numerical analysis of an agriculturalproblem to which only descriptive analyses had hitherto been applied. Takao
FUKUCHI (Kyoto University) "An Econometric Model for Urban Planning" modeleda long-range urban planning scheme including land price fluctuation and population
distribution.
Thirdly, some researchers suggested methods to realize empirical analyses. Akifusa
FUJIOKA (Keiai University) "Road Network and the Measurement of Investment
Benefit" showed an alternative method to derive the benefit of investment for
deveoping a road network. Tetsuo KANESAWA (Rissho University) "Analytic
Hierarchy Process (AHP) and Road Improvement Planning" tried to apply the AHP
method to evaluate road improvement. Y uji MATSUMURA (The Sanno Institute ofManagement) "Fuzzy Linear Regression Model as Applied to the Measurement ofResidential Land Price" gave an application of fuzzy theory to the measurement ofcomplicated urban land prices.
Fourthly, some reports were extensions of the authors' previous theoreticalresearches. Hiroyuki KOIDE (Kyushu International University) "General Equilibrium
Analysis of Urban Structure" reconsidered possible land use patterns in a port citymodel. Y uji ITA YA (Miyagi National College of Technology) "A Dynamic Analysis ofIndustrial and Residential Location in a Mono-Centric City" applied his new urban
economic model to the determination both of industrial and residential location.
Hitoshi MITOMO (Nagoya University of Commerce) "Economic Efficiency of the
Deregulation of Telecommunications Market"
examined the pricing of
telecommunications service under the threat of the entry of competitive firms.
II. International Conference
The 11th Pacific Regional Science Conference, organized by the Japan Section of
the RSA, supported by the Standing Secretariat of the Pacific Regional Science
Conference Organization , was held successfully at Singapore from July 3 to 6, 1989.
Many participants from the Pacific rim countries presented papers which werediscussed warmly and constructively. Many members of the Japan Section attended theConference to present papers and act as discussants and/or chairmen.
The 12th Pacific Regional Science Conference will be organized by the Australian
Section of the RSA and will be held in Australia in July, 1991.
66

III. Publication"Studies in Regional Science — the Papers and Proceedings of the Japan Section of
the RSA-(Chiikigaku Kenkyu) Vol. 19 edited by Fujio OKAZAKI (Setsunan
University) was issued. It contains 12 research papers and 4 symposium issues.
(Hitoshi MITOMO)

67

THE SOCIETY FOR THE ECONOMIC STUDIES OF SECURITIESThe Society for the Economic Studies of Securities was founded in 1966 with theaim of promoting study and research by its members into a study of securities and theirmarkets. Most members are academics, but others are economists, accountants,
analysts, lawyers, and practitioners working in the financial markets.
The 31st national conference was held on June 17 and 18 at St. Paul's University,
while the 32nd national conference was held on November 11 and 12 in 1989 at Aichi
Gakuin University. In addition there were eight local meetings, one in Hokkaido, two
in Kanto, one in Chubu, two in Kansai and two in Kyushu. The Society published theAnnals of Society for the Economic Studies of Securities Vol. 24 which contained thetitles, names of the reporters and abstracts of their papers presented at the national
conferences.
The common theme for the 31st conference was "Internationalization of theCapital Market and Corporate Financing Strategy" for which there were four study
reports. Yasuhiro KOBAYASHI(Kanagawa University) pointed out the importance offinancing activities by multinational companies in Euro-markets. Yoshio IIHARA andKiyoshi KATO (Nanzan University) questioned the secular view that Japanesecompanies are raising very cheap money by issuing warrants in international bondmarkets. They pointed out that taking the intrinsic value of the warrant into
consideration, these instruments were not necessarily cheap. Kazuo TSUDA (Mitsui
Research Institute) surveyed recent trends in overseas portofolio investments by
Japanese institutional investors and discovered something of their behaviour in spite ofthe difficulty of obtaining data for detailed analysis. He also explained the dangers toJapanese firms of the Euro-bond market, for they were obliged to hold considerable
proportions of new issues because of very severe competition. Yasuyuki HAMADA(Hokkaido University) emphasized the importance of one aspect of securities markets
worldwide, that is the creation and development of 'junior'(unlisted securities)
markets. Kenji HIRAMATSU (National Research Institute of Securities andEconomics Inc.) and Hirokazu SAGO (Osaka City University) were the discussants.
There was a vigorous exchange of views, for many pointed out that
'internationalization'was a very wide term and that no two definitions were the same.
It was also stressed that capital raising by Japanese companies in international markets
had some specific peculiarities.
Other reports which were not read at the common theme session, were closely
related to it. These included Takashi KAZUSAKA (Osaka City University) who
surveyed M&A movements in US and other main markets and noted that one
important aspect of worldwide M&A movements was reorganization of financial
institutions who were faced with'internationalization'. And Kouetsu AIZAWA(Japan
Securities Research Institute) who discussed the merits and demerits of a universalbanking system which might depress the securities business because priority might go to68the banking business.
There were two other reports which were read as free themes which were related
to current topics. Mikio FUJIMOTO (Fukuoka University) discussed the relationshipbetween assets inflation and money supply. Yasuhiro Y ONEZAWA (University ofTsukuba) concluded that the high level of Japanese stock prices in late 1980s wascaused by the rapid accumulation of external assets in Japan.
Two other reports were presented at the conference. Yoshihiro OSAKA (Meiji
University) discussed changing features of preferred stocks while Minoru TERADA(Japan College of Social Welfare) discussed management control of corporations.
The common theme for the 32nd national conference was "Financial Innovation in
the Securities Markets". Three study reports were presented. Hatsuo OHTA (Yamaichi
Research Institute) reported the background to the financial innovation and strategies
of securities companies. He suggested that an increasing use of'system trading' forarbitrage transactions might cause an acceleration of the fall of stock prices. Y ukihiro
ASANO (Sumitomo Trust Bank) pointed out that institutional investors were notmaking good !-JSe of futures and option transactions because of transaction cost andlimited scope of time span. Michio KUNIMURA (Nagoya Municipal University)
investigated the price movements of convertibles and found that there were wide
fluctuations of prices as the result of a one way market dominated by the great
institutions. Katsumi OKAMOTO in his comments emphasized the need for analysis of
the impacts of new investment technique on spot market price formation.
In the free theme session, there were several reports including Ichiroh KAWAI(Nagoya Stock Exchange) who explained the purpose and the framework of "OPTION
25" trading at the Nagoya Stock Exchange. Kiyoshi NIKAMI (Japan Securities
Research Institute) reported changes in securities companies'business given the recent
new financial environment. He pointed out that the Ministry of Finance had relaxed
control of securities regulations, which in turn affected the business of securities
companies. However, the response of the three types of securities companies, the big
fours, other integrated securities companies and small companies were markedly
different. Shinichi ITOH (Shimonoseki City College) warned that'financial innovation'
might lead to financial revolution. Chang Hee KAHG (Daewoo Securities [Korea])
explained how the financial system in Korea differed from that in Japan and said thatthe authorities in Korea were planning a restructuring of financial institutions. Hiroshi
FUKUMITSU (National Diet Library) discussed the purpose and background of
reduction of rates of sales tax on securities transactions. He suggested that it wascaused by the structural change of the secondary market for stocks. Corporations,instead of private individuals, have become the main players in the market and they
have become very concerned about transaction costs.
At the conference, there were three other reports. Shohzo I WAHARA (NaraSangyo University) reported West Germany's external portfolio investments in 1980s.
Takashi NAKAHAMA (Otaru College of Commerce) reported changes in the
structure of assets and liabilities of US life insurance companies.

Kenichiro

MURANAKA (Yasuda Trust Bank) discussed the valuation of bonds options.
69

The 33rd national conference will be held at Keio University with the theme of'securities transaction in the globalised markets'on May 16th and 17th 1990.
(Joji KOBAYASHI)

70

THE ASSOCIATION FOR THE STUDY IN SOCIALIST ECONOMIESThe 29th Congress of the Association for the Study in Socialist Economies was heldon May 20th and 21st, 1989 at Fukushima University, and its participants met at a
symposium for discussion under the general theme "Perestroika: a Multifacetted
Analysis".
At the beginning of the symposium introductory reports were presented by two
general discussants. One of them, Ichiro ONO (Ritsumeikan University), in his paper
entitled "Why Perestroika now?" made a brief review of the present socio-economiccrisis in the Soviet Union and the contradictions contained in the old system. He also
pointed out that rapid progress of contemporary science and technology and wide
development of global economic integration constitute the historical background ofPerestroika. To cope with all these circumstances, the reporter suggested, the adoptionof comprehensive policy and appropriate order in its implementation are imperative.
Tsuneaki S ATO (Nihon University), another general discussant, made a report on"Perestroika as an Economic Strategy", in which he remarked that in contrast withundoubted achievements in democratization, Perestroika as an economic rejuvenator
had come to a dead end. S ATO believed that the programme of "acceleration" was at
fault and suggested that what is needed is a more realistic strategy aiming at balanced
development which should at the same time be combined with the logic of restructuringof economic system.
The first to examine specific aspects of Perestroika was Yuzo TANAKA (Ryukoku
University), who read a paper on "Scheduled Figures and State Order". Although the
new law on state enterprises provides that scheduled figures are not binding, TANAKA
argued that these figures and state order, when combined with "limits" and the existing
relationship with state distribution organs, have such an effect as to deprive producersof their rights to take their own planning decisions.
In a report entitled "Reforming the Soviet price System" Masaaki KUBONIWA(Hitotsubashi University) remarked that the relationship between price reform andexisting conditions, such as financial deficit, shortage of goods, etc., constitutes thecore of the problem. On this ground the reporter maintained that the decision toreconsider the scheduled price reform is understandable, noting, however, that somequestions are left without thorough discussion.
Yukinori NARITA(Hamamatsu

University) presented a report on "Full

Khozraschyot (Self-financing System) in Perestroika". Admitting that the merit of its
Second Model in stimulating saving of wages and material cost is apparent, NARITA
remarked that due to the absence of necessary working conditions for this model mostof the Soviet enterprises choose the First Model, which guarantees funds for wages.
The reporter also pointed out the difficulties both models are faced with because ofministrial control.
Rihito YAM AM URA (Ibaraki University) in his report on "Perestroika and71

Agricultural Reform" argued that both group-contract and family-contract introducedon the earlier stages of reform were certainly new attempts within the framework of
Kolkhoz-Sovkhoz system, but as such suffer from restrictions. In this connection thereporter attached greater importance to the appearance of individual family-farms
based on rent, though resistance here is also strong.
In a report entitled "Co-operatives: Reconstruction of Non-state Sector" Yoshio
IMAI (Kogakuin University) believed that the new law on co-operatives is ofenormous importance. Although the law provides "guardianship" of the state, and co­operatives have yet a very small share in GNP, the reporter stressed that the very factof their coming into existence is much more significant than such figures may imply.
Hiroyuki OKADA (Hosei University) in his paper on "Wage Reform and the
Revision of the Labour Law" considered that the introduction of the market willencourage antagonism between classes and social groups. On the basis of this notion heremarked that the latest wages reform, which is combined with self-financing of funds
for wages increase, will necessarily create unemployment. The reporter also pointed
out the possible effect of the recent revision of the labour law, particularly thecurtailment of a number of provisions for the protection of labour.
Yoshiaki NISHIMURA (Hitotsubashi University) read a paper on "Ownership
Reform in the Soviet Union" and suggested that the basic idea of the reform is tocreate a mechanism for the acceleration of economic development within theframework of"normalstate ownership" (democratization and introduction ofcommodity market) plus "self-management" of working people. The reporter addedthat for the introduction of a stock market and a labour market time and several
changes are needed.
"International aspect of Perestroika" was the theme taken up by Minoru SAITO(Hosei University), who considered that the enlargement of East-West economic
relations certainly means a return to normalization of international relations. SAITO
remarked that the process of opening of the Soviet and East European economies tothe West is under way, however, without consolidating necessary conditions for theirnormal integration into the world economy, such as economic reform and inter­
COMECON integration. This may lead, the reporter maintained, to a serious disorderin economy and pre-war type financial subordination to the West.
The last reporter was Hiromasa NAKAYAMA (Meiji Gakuin University), whospoke about "The Political Reform and the Ethnic Problem". On the basis of personal
experience during his recent visit to Erevan, Tallinn and Riga, NAKAYAMA suggested
that nationalism in the Soviet Union may enter upon a new era, if the violent energy ofdifferent nationalist movements be united and a high level of political reform beachieved.
The presentation was followed by many questions and an active discussion, in
which many participants took part.
(Ichiro ONO)

72

THE SOCIETY FOR THE STUDY OF SOCIAL POLICYThe Society for the Study of Social Policy aims to promote interdisciplinary studies
relating to labour issues and social conditions. Although most members are economists,
others are sociologists, jurists and historians.
The 78th national convention of the society was held at Waseda University, Tokyo,
on May 27 and 28, 1989. The main theme of the convention was "Japanese enterprises
and foreign workers." In the plenary session, six reports were presented.
Hideo TOTSUKA (The University of Tokyo) reviewed critically recent fieldstudies on the transferability of Japanese-style management and decentralizing effortsof Japanese multi-national firms. He desired the improvement of the quality of
researches in this field.
The presentation by Hiromasa SUZUKI ( Waseda University) was on "the problemof the influx of foreign workers." He tried to give correct information on social
experience related to immigrant workers in European countries. In the light of adiversity of experiences of European countries, he suggested a few policy directions inJapan.
Miyoko SHIOZAWA (Keisen Jogakuen College) reported that the employees ofAsian subsidiary companies of Japanese multi-national enterprises, who werepredominantly young and female, were under poor working conditions and wereclosely controlled by the management.
The presentation entitled "Internationalization and strategies on local humanresources" by Mitsuhide SHIRAKI (Seisen Junior College) pointed out difficulties ofstaffing local managers on the basis of a series of field surveys.
Michio NITTA (Musashi University) examin�d Japanese-style production systemwith a view to considering whether it can be transferred and can form a new model ofmanagement in U.S. whose firms have their own industrial relations practices. The
reporter's survey results were varied. He also reported that American industrial
relations practices varied.
Industrial relations in the Japanese subsidiary companies in Britain were analysedby Mitsuo ISHIDA (Doshisha University). He pointed out that Japanese-styleindustrial relations were well reflected in wage tables of those companies in various
degree.
In the closing session chaired by Shigeyoshi TOKUNAGA (Tohoku University)and Makoto KUMAZAWA (Konan University) there was vigorous discussion during
which opposing opinions were eagerly presented. The report of the Society containing
major presentations of this convention was published as Japanese Enterprises andForeign Workers (in Japanese), Tokyo, 1990.
The 79th convention was held at Kwansei Gakuin University, Nishinomiya, on
October 21 and 22 with the theme of "The stages of social policy in post-war Japan."This subject was selected because the social policy centering around labor had been73

undergoing drastic changes . For the purpose of the program, the organizing committee
had divided the post-war period into three stages and had selected four major fields ofpolicy.
Tsuneo ONO (Josai University) reported on the social policy during the period ofreconstruction, from 1945 to 1954, which was characterized by the indirect rule by theoccupation authority. The rules worked out by the interaction among the government,labor and employers and different characteristics in major policy fields.
Kozo KIKUCHI (Kyoto University) reported how particular politicians had tried
to establish orderly industrial relations in the period of high economic growth, 1955 to1973. He also noted that environmental problems emerged as critical factors due torapid economic growth.
Tsutomu HYODO (The University of Tokyo) handled "the period of transition,"from 1973 to date, mostly in relation to the policy thought "Japanese-style welfare
society," which is replacing the earlier policy ideal "welfare state." According to the
new ideas the role of the family, community or firm in relation to the welfare of people
are more important than those of the state. He reviewed major theoretical positions.
Tomio MAKINO (Nihon University) reported on the development of "fair labor
standard policies," especially those related to minimum wages and working hours. His
conclusion was that the deplorable working conditions which often obtain in small
businesses, and the permissive attitude of trade unions have allowed internationally low
public standards.
Rokuro HOTANI's (Matsuzaka University) report on "the formation andtransformation of industrial relations policies," was followed by the presentation by
Mitsuya !CHIEN (Kansai University) on "Development of social security in the post­
war Japan — the notable features of Japan." In Japan, no attempt is made to guarantee
an equal "national minimum" of living for all people. The social insurance schemes forworkers and for others, covering all members of the society but guaranteeing different
levels of benefits, have worked out since 1961.
Kazumichi GOKA (Kanazawa University) traced post-war developments of
employment policy and measures planned to counter unemployment. He pointed outthat the government had been promoting unstable employment in cooperation with
employers.
Reviewing the foregoing reports, Mikio SUMIYA (Chairperson of the National
Advisory Council on the Social Security System) remarked that the basic framework ofsocial policy had been formed initially under the occupation, and it had changed as thelabor market changed. Due to the inclusion of non-workers in the social security
system, the members of the Society, who had been mostly interested in the policies
regarding workers, had to take new approaches of study.
The final session which was a symposium was chaired by Sakuro OMAE (Kwansei
Gakuin University) and Hiromichi NISHIMURA (Doshisha University).
(Manabu MINE)

74

SOCIO-ECONOMIC HISTORY SOCIETY

The 58th annual conference of the Socio-Economic History Society was held on the
3rd and the 4th June 1989 at Waseda University, Tokyo. The common theme was'Industrial Discipline and Monopoly: Labour, Capital , and the State'; which was an
attempt to analyze the changing patterns of industrial discipline in relation to thedevelopment of capitalism. Industrial discipline emerged in line with the market
economy in the late 18th century by taking over the so-called'moral economy', andwas established in the 19th century. The development of the market economy, throughfree competition under a'laissez faire'policy,. eventually brought about the stage ofmonopoly in the late 19th century, which , thereafter, paved the way for government

intervention and participation in economic activities in an attempt to regulate market
mechanism. Our purpose in choosing this theme was to deepen our understanding of
how government intervention affected industrial discipline and market forces .
Teruaki ENDO ( Yokohama National University) gave an introductory paper'Industrial Discipline and Monopoly, with special reference to France', in which heexplained that for him the concept of industrial discipline meant a system of rules of
behaviour which determined conditions for workers in factories as well as making freecompetition possible in the market. Taking the case of France as an example, ENDO
provided an overview of the dynamic change in the discipline over a long period fromthe late 18th century to 1940, which he divided into four phases. The first was from1776 to 1848 when TURGOT introduced the market principle against'Roi-Providence'
which was abandoned before the French Revolution but eventually emerged (post
1815) as free competition; the second was from 1848 to 1884 when employers organizedassociations which adopted paternalistic attitudes towards their workers; the third(1884 to 1914) saw a crisis of industrial discipline due to the increasing arbitrary powerof employers, although social reform was initiated at this time; and finally the inter-war
period was characterised by 'L'Etat-Providence'. Facing foreign competition in theinterwar period, France justified government intervention in the economy, though thepower of the state was strictly restricted by law, in sharp contrast to the case ofGermany, Italy and Japan.
Osamu YANAGISAWA (Tokyo Metropolitan University) contributed a paper on'Restraint of Competition , and Small Enterprises in Germany from the late 19th
century to the Interwar Period,'which looked at a newly emerged discipline among
employers in Germany. The rapid development of heavy industry in the late 19th
century created hardship among the increasingly large numbers of small and medium
enterprises from 1880s onwards. These small enterprises were intensely competitive ,which resulted in the prohibition of overheated competition and in the introduction of
new ideas such as'fair price'and'fair profit'. These ideas became the concepts bywhich the government regulated the market in the 1920s.
Kiyokazu KOBAYASHI (Shiga Prefectural Junior College) read a paper'Factory75

Control, Industrial Regulation, and Legitimacy in the U.S.A.' which traced thetransitional period from the new factory system in the 1920s to the New Deal in the
1930s. Under the new factory system in the 1920s, the economy ran smoothly, andindustrial relations between employers and employees were amicable, so that the roleof the government was naturally limited, while, in the New Deal period of the 1930s,
the government became more interventionist, particularly to protect small-medium
industries, controlled the economy by anti-monopoly laws, and encouraged labour
unions. The paper emphasized the effect of the government intervention upon thelegitimacy of the state over time.
Terushi HARA (Waseda University) contributed a paper, 'Organizing the
Economy in France in the Interwar Period', which discussed the abortive attempt to
introduce a cartel act called'Projet de loi Marchandeau'in the 1930s. Recognizing theinability of the market to resolve the economic crisis, the French government would
have been willing to strengthen the control over industries by permitting cartel
formation. But there was strong opposition to legalizing such measures not only fromheavy industrial enterprises and left-wing groups, but also from medium-&-small
businesses as well. HARA suggested that the French have a peculiar, negative attitude
to the cartel—as exemplified in the 419th article of the Criminal Act in 1810—which
prohibited employers' associations, and that this French antipathy against any form ofcartel can be traced back to the French Revolution.
Hideaki MIYAJIMA (Waseda University) read a paper entitled 'Industrial
Discipline and Monopoly in Japan in the 1930s'which focused on the transformation of
employers' discipline in the 1930s. Believing in the market self-regulating mechanism,
the government did not intervene in an increasing monopolistic scene until the mid1920s. When faced with the economic crisis of 1927, however, the government began torestrict freedom in trade and business. The intervention was justified under the concept
of'reasonable price', similar to'fair price'in Germany. By so doing, the government
helped employers to overcome the market failure and encouraged them to organize
cartels. Government industrial policy in general, and the law of controlling majorindustries in particular, was so effective that Japan succeeded in overcoming the crisis
as early as 1932. The government also played an important role in eliminating heatedcompetition among small to medium sized enterprises, in controlling rising prices andin regulating the monopolistic tendency of big businesses.
Most papers focused on the inter-war period when the interaction among workers,
capitalists and the state were apparent. Though each paper dealt with a different
country, they were commonly concerned to show how each government reacted to themarket failure caused by the 1929 crisis. It is hoped that further research will allow amore comparative perspective to be developed.
(Ken'ichiro SHODA)

76

JAPAN STATISTICAL SOCIETY

The activities of the Japan Statistical Society, which was established in 1931, areconcerned with the theory of statistics and its application. These include government
statistics, computational methods, the education and training of statisticians. These
diverse interests involve many disciplines including social sciences such as economics
and demography, natural sciences and engineering as well as humanities and medical
sciences.
The fifty-seventh Annual Convention with eighteen sessions was held on July 2527, 1989, at Faculty of Economics, Nagasaki University. Abstracts of all the papers
presented were printed in T he Nihon Tokei Gakkai Koen-Hokoku-Syu (Proceedings ofthe Fifty-seventh Convention of the Japan Statistical Society). This publication includes
one hundred and twelve abstracts covering some 250 pages. The condensed version of
the Proceedings was also published as a Supplement of the Japan Statistical SocietyNews No. 61, 1989. List of the titles of the papers presented was published in the
Journal of the Japan Statistical Society, Vol. 19, No. 2, 1989.
This year, Professor Hirotsugu AKAIKE (Institute of Statistical Mathematics)
delivered a presidential address under the title of "On the Strategy for the Research of
Statistics". He started with the history of statistics and went on to describe the present
state of the art. The main point of his talk was that the development of statistics can beeffectively realized by establishing a relationship with a wide range of related appliedfields, transforming problems arising from outside areas into statistical ones, solving
statistical problems from various points of views, and making up a database of existingstatistical works. Two invited lectures were given by Professor Takeshi AMEMIYA(Stanford University) talked on "Generalized Nested Logit Models", while Professor
Takeaki KARIYA (Hitotsubashi University) gave a survey on "Statistical Analysis ofPrice Movements of Financial Assets". Professors Satoru KANOU (Yokohama National
University) and Takemi YANAGIMOTO (Institute of Statistical Mathematics) gave
comments on the first talk, while Professors Yoshihiro YAJIMA (Wakayama
University) and Kazuhiko NISHINA (Osaka University) spoke on the second. Other
contributors'sessions and the session organizers, on economics and related topics, arelisted below.
1)

Use of Statistics in the Urban and Regional Analysis (Keiro HAMASUNA,
Kyushu University)

2)

Statistical Law and System (Y usetsu OHYA, Kitakyushu University)

3) Time Series Analysis (Yuzo HOSOYA, Tohoku University)4) Population Statistics (Haruo SAGAZA, Waseda University)
Unfortunately, most papers and reports presented at each session are not available
in English, although some of them were written in English. Summaries in Japanese in
the Proceedings will give sufficient information on the title of paper and affiliation of
speaker for further inquiry. The Proceedings may be obtained from the Bureau of the77Society on request.
The Japan Statistical Society issues biannually The Journal of the Japan StatisticalSociety, which publishes original contributions. Most articles in the Journal are written
in English and all are required to have the English summaries. The Japan StatisticalSociety also published a special issue on Japanese Statistics associated with the 46th
Session of the International Statistical Institute held in Tokyo. All articles in·this special
issue were written in English. The Journal can be purchased by overseas readers
through The Japan Publication Trading Co., Ltd., Tokyo International, P.O. Box 5030,

Tokyo 100-31, Japan.

The next annual convention is scheduled to take place on July 25-27, 1990 at

Hokkaido University.

(Katsuto TANAKA)

78

JAPAN SOCIETY OF TRANSPORTATION ECONOMICS

Japan Society of Transportation Economics'48th annual convention was held on
September 30 and October 1, 1989, in Tokyo under the sponsorship of The Universityof Tokyo. Because of its topicality, the unified theme chosen this year was"Transportation in an Internationalized Age".
Eight reports were presented, on a variety of subjects, on the first day of theconvention. Yoshitsugu KANEMOTO (The University of Tokyo) examined the policyof the transport pricing and investment from the viewpoint of a theoretical economist
under the title of "Re-examination of the policy of the pricing and the investment". He
re-examined the second-best pricing and investment and internalization of development
effects.
"Measuring the developmental effects of highway by the inter-industry analysis"
was jointly presented by Yoshiaki SADAI and Shigeki HAZAMA (Tokushima
University), who measured the benefits of the highway on the case of Tokushima
prefecture, using the inter-industry relations table of Tokushima prefecture in 1985.
Yoshio CHIBA (Tokyo prefecture) found that there were economies of scope on
the managerial resources such as know-how, technology, and accumulated experiencesin the 77 omnibus companies, but that there existed no effects of economies of scope in
any of their products in his report, "The Multiple production structure and economies
of scope in omnibus industry". Masaru MIYAJIMA (Tokyo Institute of Technology)
and Atsuro WATANABE (Tokyo Electric Power Corporation) analyzed the public
nature and efficiency of the omnibus business under the title of "Public role of omnibus
business in local transportation.""The Growth of express parcel services and their impacts on the society" waspresented by Minoru SAITO (Nittsu Research Institute) who surveyed the current
attempt of express parcel services companies to enter into the mail order sales business.
Yoshihiro WAHIRA (Japan Transport Economics Research Center) presented areport entitled "The methanol fueled vehicle, a viable alternative?". He surveyed thecurrent state of research, development and the use of methanol fueled vehicle as ameans of lessening air pollution in some leading countries and examined technologicaland economic use potentiality of such vehicle together with the problems to be
encountered in promoting its wider use.
Masatoshi KAGAWA (Japan Ports Economics Academy) surveyed thereformation of ports in China under the title of "The current state and the problems ofChinese port reformation under the open economy policy." Genpachiro KONNO(Institute of Highway Economics) presented a report, "The new trend and the
problems of a transportation policy in an Internationalized Age". He madeobservations on the interactive relation between the transportation and social
economics structure on the basis of wide range of historical evidence such as thedevelopment of them in the world.
79

Four reports, relating to the unified theme, were presented on the second day ofthe convention. Yoshikazu ONO (Ministry of Transport) compared the adjustment of
the number and the size of ships in Japan in order to avoid the oversupply of domestic
shipping services with that in Europe under the condition of EC's unification andconsidered that the European case was important in considering future adjustment inJapan in his report, "Consideration of the policy of domestic shipping in Europe and inJapan".
Hiromasa YAMAMOTO (Kobe University) presented a report, "The emergenceof new international specialization in shipping industry". He analyzed the difficult
problems which arose from the fact that international shipping was carried out by
operators employing foreign workers, using foreign ships and in foreign territorial
waters. He proposed some remedies for these problems.
"The illegal discounts of airline tickets and the examination of discriminatory
pricing by directions" was jointly presented by Ushio CHUJO (Keio University) and
Hirotaka YAMAUCHI (Chukyo University). They contended that transportation
services of A to B and that of B to A were different services in different markets which
did justify the discriminatory pricing of them as currently practiced.
The last report in the section was given by Y ujiro YAMAMOTO (Takachiho
College of Commerce) on "World-wide air transportation". He examined the recent
trend of international air transportation and concluded that the trend world-wide wasto move towards an internationalism based on nations. He cited the experiences of air
deregulation in the U.S. and EC's unification as a step toward the globalization andconsidered how best the current air regulation in Japan could be restructured in orderto adjust itself to this new trend. The symposium based on the above four reports waschaired by Kunio MIYASHITA (Kobe University) and Masahiro SUGIYAMA(Waseda University).
The 49th annual convention is scheduled to be held on September 29 and 30, 1990,
at Oita University.
(Kaoru ABE)

80

List of Member Associations

1990

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THE JAPAN ACCOUNTING ASSOCIATION
日本会計研究学会• Established: 1937
• Number of members: 1,621• President: Seigo NAKAJIMA (Ferris University)• Publication: Monthly bulletin, "Kaikei" (Accounting)• Liaison Office of the Japan Accounting Association
c/o Moriyama Co., Hayashi Building, 1-10, Nishiki-cho, Kanda, Chiyoda-ku,
Tokyo 101, Japan
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THE AGRARIAN HISTORY SOCIETY
土地制度史学会• Established: 1948
• Number of members: 1,005• Representative Director: Kaichiro OISHI (Meiji Gakuin University)• Publication: "TOCHI SEIDO SHIGAKU (The Journal of Agrarian History)"
quarterly• Agrarian History Society
c/o Institute of Social Science, T he University of Tokyo,
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan―

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THE AGRICULTURAL ECONOMICS SOCIETY OF JAPAN(Formerly: THE AGRICULTURAL ECONOMIC SOCIETY OF JAPAN)
日本農業経済学会• Established: 1924
• Honorary members 27, regular members 1,051, associate members (students) 111,
cooperative members 24• Chairman: Naraomi IMAMURA (The University of Tokyo)• Publication: Bulletin of the Society, "Nogyokeizai Kenkyu" (Journal of Rural
Economics) quarterly• T he Agricultural Econnomics Society of Japan
c/o Business Center for Academic Societies Japan,
2-4-16, Yayoi, Bunkyo-ku, Tokyo 113, Japan―

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THE JAPAN ASSOCIATION FOR ASIAN POLITICAL
AND ECONOMIC STUDIES
アジア政経学会• Established: 1953
• Number of members: 700• President: Kenichiro HIRANO (The University of Tokyo)• Publication: "Asian Studies"— quarterly• Japan Association for Asian Political and Economic Studies
c/oProfessor Akira ISHII,
Department of Arts and Sciences, The University of Tokyo
3-8-1, Komaba, Meguro-ku, Tokyo 153, Japan

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JAPAN AU口TING ASSOCIATION
日本監査研究学会• Established: 1978
• Number of members: 372• President: Masa'atsu TAKADA (Kobe University)• Publication: "Monograph, Research Series"一once a year●

Japan Auditing Association
c/o

The Faculty of Business Administration,
Kobe University, 2-1, Rokkodai-cho, Nada-ku,
Kobe 657, Japan

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JAPAN SOCIETY FOR THE STUDY OF
BUSINESS ADMINISTRATION
日本経営学会• Established: 1926
• Number of members: 1,930• President: Moriyuki TAJIMA (Hitotsubashi University)• Publication: "Keieigaku Ronshu"一once a year
• Japan Society for the Study of Business Administration
c/o

The Institute of Business Research, Hitotsubashi University,
Naka 2-1, Kunitachi, Tokyo 186, Japan

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THE JAPAN BUSINESS ENGLISH ASSOCIATION (JBEA)
日本商業英語学会• Established: 1934
• Honorary member 1, regular members 209, supporting members 8, totalling 218• President: Hiromu NAKAMURA (Doshisha University)• Publication: Nihon Shogyo Eigo Gakkai Kenkyu Nempo (The JBEA Annual
Studies) ― once a year
• The Japan Business English Association
c/o Professor Hiromu NAKAMURA,
Department of Commerce, Doshisha University,
Imadegawadori-Karasuma, Kamigyoku, Kyoto 602, Japan
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BUSINESS HISTORY SOCIETY OF JAPAN
経営史学会• Established: 1964
• Number of members: personal 710, institution 47• President: Shigeaki YASUOKA (Doshisha University)● Publication: "Japan Business Hisotry Review"-quarterly● "Japanese yearbook for Business History" - annually● Business History Society of Japancl oProfessor Eisuke DAITO,
No. 711, Faculty of Economics, The University of Tokyo,
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan

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JAPAN SOCIETY OF BUSINESS MATHEMATICS
日本経営数学会• Established: 1959
• Number of members: 120• President: Tadashi FUJITA (International Christian University)• Publication: "A皿ual Report of Japan Society of Business Mathematics"● Japan Society of Business Mathematics
c/o

Professor Tadashi FUJITA, International Christian University,
3-10-3, Ohsawa Mitaka-shi, Tokyo 181, Japan

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JAPAN SOCIETY OF COMMERCIAL SCIENCES
日本商業学会• Established: 1951
• Number of members: honorary 7, ordinary 716, supporting companies 10• President: Y ukichi ARAKAWA (Kobe University)• Publication: "Journal of Japan Society of Commercial Sciences" ー annually• Japan Society of Commercial Sciences
Kenkyu-to Building, Meiji University,
1-1, Kanda Surugadai, Chiyoda-ku, Tokyo 101, Japan
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JAPAN SOCIETY FOR COMMODITY SCIENCE
日本商品学会• Established: 1935
• Number of members: regular members 273 including 11 foreigners, supporting
members 3• Chairman: Ryojiro IWAKI (Chiba Commercial College)• Publication: Quarterly bulletin, "Shohin Kenkyu" (Studies on Commodities)• Japan Society for Commodity Sciencec/o Hitotsubashi University, Naka 2-1,
Kunitachi, Tokyo 186, Japan
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THE SOCIETY OF ECONOMIC SOCIOLOGY
経済社会学会• Established: 1966
• Number of members: 310• President: Yohichi UTSUMI (Osaka Gakuin University)• Publication: The Annals of the Society of Economic Sociology• The Society of Economic Sociology
c/o The Faculty of Social Science, Kobe University,
2-1, Rokkodai, Nada-ku, Kobe 657, Japan
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THE SOCIETY FOR THE HISTORY OF ECONOMIC THOUGHT
経済学史学会• Established: 1950
• Number of members: 808• President: Yoshiki YOSHIZAWA (Senshu University)• Publication: "The Annual Bulletin of the Society for the History of Economic
Thought" -once a year
• The Society for the History of Economic Thoughtc/oProfessor Yoshiki YOSHIZAWA,
Faculty of Economics, Senshu University,
2-1-1, Higashimita, Tama-ku, Kawasaki-shi 214, Japan

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THE JAPAN ASSOCIATION OF ECONOMICS ANDECONOMETRICS
理論・計量経済学会• Established: 1947
• Number of members: 1,938• President: Chikashi MORIGUCHI• Publication: "The Economic Studies Quarterly"• The Japan Association of Economics and Econometrics
c/o

The Institute of Statistical Research,
1-18-16, Shimbashi, M inato-ku, Tokyo 105, Japan

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THE JAPAN ASSOCIATION OF ECONOMIC GEOGRAPHERS
経済地理学会• Established: 1954
• Number of members: 680, patronage members: 10• President: Motosuke ISHII (Meiji University)●

Publication: "Keizai-Chiri Gaku Nempo" (Annals of The Japan Association of
Economic Geographers) - quarterly• The Japan Association of Economic Geographers
cl oInstitute of Economic Geography,
Faculty of Economics, Hitotsubashi University,
Naka 2-1, Kunitachi, Tokyo 186, Japan

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JAPAN ECONOMIC POLICY ASSOCIATION
日本経済政策学会• Established: 1940
• Number of members: individuals 1,191, institutions 4• President: Toshinosuke KASHIWAZAKI (Waseda University)• Publication: "Nippon Keizai Seisaku Gakkai Nenpo" (The Annals of the Japan
Economic Policy Association)—annual• Japan Economic Policy Associationc/oProfessor Toshinosuke KASHIWAZAKI,
Waseda University,
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 169, Japan

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JAPAN FINANCE ASSOCIATION
日本経営財務研究会• Established: 1977
• Number of members: 421• President: Akio MORI (Kobe University)• Publication: "The Annual Report of Japan Finance Association"—annually• Japan Finance Association
c/o

The Faculty of Business Administration,
Kobe University,
2-1, Rokkodai-cho, Nada-ku, Kobe 657, Japan

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JAPAN ACADEMY FOR FOREIGN TRADE (JAFT)
日本貿易学会• Established: 1960
• Number of members: 308• President: Yoshio SAITO (Chuo Gakuin University)
�Publication: "The Annual Bulletin of Japan Academy for Foreign Trade",(Annual publication)

尋"JAFT News", twice yearly• Japan Academy for Foreign Trade
c/oProfessor R. ASAOKA,
School of Commerce, Waseda University,
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 169, Japan

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THE JAPANESE SOCIETY OF INSURANCE SCIENCE
日本保険学会• Established: 1940
• Honorary members 8 including two foreigners, ordinary members 723 including 26
foreigners, supporting members 57 organization• Chairman: Eiichi KIMURA (Chuo University)• Publication: "Journal of Insurance Science" (Hoken-gaku Zasshi)―quarterly• The Japanese Society of Insurance Science
c/o The Life Insurance Association of Japan,
3-4-1, Marunouchi, Chiyoda-ku, Tokyo 100, Japan
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THE JAPAN SOCIETY OF INTERNATIONAL ECONOMICS
国際経済学会• Established: 1950
• Number of members: 1,118• President: Fukutaro WATANABE (Gakushuin University)• Publication: "The International Economy" — annually• The Japan Society of International Economics
c/o Professor Ken'ichi ODAWARA,
Faculty of Economics, Jochi (Sophia) University,
7, Kioi-cho, Chiyoda-ku, Tokyo 102, Japan
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THE JAPAN SOCIETY OF MONETARY ECONOMICS
金融学会• Established: 1943
• Number of members: 870• President: Takeshiro KODERA (Kwansei Gakuin University)• Publication: "Bulletin of the Japan Society of Monetary Economics"-biannually• Japan Society of Monetary Economics
c/o

Toyo Keizai Shinpo-sha,
1-2-1, Hongoku-cho, Nihonbashi, Chuo-ku, Tokyo 103, Japan

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THE ACADEMIC ASSOCIATION FOR ORGANIZATIONALSCIENCE
組織学会• Established: 1959
• Number of members: individual members 1,147, company members 36• President: Yasuo OKAMOTO (The University of Tokyo)• Publication: "Organizational Science" ー quarterly• Academic Association for Organizational Sciencec/oRoom No. 614, Department of Economics, The University of Tokyo,
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan
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JAPAN SOCIETY FOR PERSONNEL AND LABOR RESEARCH
日本労務学会• Established: 1970
• Number of members: 632• Representative director: Kyoichi FUTAGAMI (Waseda University)• Publication: "Series in Personnel and Labor Problems" ー annually• Japan Society for Personnel and Labor Researchc/oProfessor Kyoichi FUTAGAMI, School of Commerce, Waseda University,
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 169, Japan

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JAPAN ASSOCIATION FOR PLANNING ADMINISTRATION
日本計画行政学会• Established: 1977
• Number of members: 1,141• President: Hiroshi KATO (Keio University)• Publication: "Planning Administration"-biannually• Japan Association for Planning Administration
c/o

The Institute of Statistical Research,
1-8-16, Shimbashi, Minato-ku, Tokyo 105, Japan

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JAP AN SOCIETY OF POLITICAL ECONOMY
経済理論学会• Established: 1959
• Number of members: 1,017• Chief Representative: Kiyoko IMURA (Keio University)• Publication: "The Annual Bulletin of the Society of Political Economy" ー annually• Japan Society of Political Economy
Professor Kiyoko IMURA,

c/o

Keio University,
2-15-45, Mita, Minato-ku, Tokyo 108, Japan
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THE POPULATION ASSOCIATION OF JAP AN
日本人口学会• Established: 1948
• Members: 340, honorary members 4, special members 3• President: Yoichi OKAZAKI (Nihon University)• Publication: "Jinkogaku Kenkyu" (The Journal of Population Studies)• Population Association of Japanc/oInstitute of Population Problems,
Ministry of Health and Welfare,
1-2-2, Kasumigaseki, Chiyoda-ku, Tokyo 100, Japan

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THE JAPAN INSTITUTE OF PUBLIC FINANCE(Formerly: JAPANESE ASSOCIATION OF FISCAL SCIENCE)
日本財政学会• Established: 1940
• Number of members: 620• Chairman: Takehisa HAYASHI (The University of Tokyo)• Publication: "Annual Report of the Japanese Association of Fiscal Science"• The Japan Institute of Public Financec/o The Institute of Statistical Research,
1-18-16, Shimbashi, Minato-ku, Tokyo 105, Japan
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THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICS
公益事業学会• Established: 1949
• Number of members: regular members 344, corporation members 64• Chairman: Tomoji ICHINOSE (Ishinomaki Senshu University)• Publication: "Journal of Public Utility Economics"• Koeki Jigyo Gakkai (The Japan Society of Public Utility Economics)
c/o Akasaka Community Bldg.,
1-1-8, Motoakasaka, Minato-ku, Tokyo 107, Japan
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THE JAPAN SECTION OF
THE REGIONAL SCIENCE ASSOCIATION
日本地域学会• Established: 1962
• Number of members: 563• President: Hirotada KOHNO (University of Tsukuba)• Publication: "Studies in Regional Science — the Papers and Proceedings of the Japan
Section of RSA" ("Chiikigaku Kenkyu" in Japanese) annually• The Japan Section of the Regional Science Association
c/o Institute of Socio-Economic Planning,
University of Tsukuba,
Tsukuba, lbaraki 305, Japan—

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THE SOCIETY FOR THE ECONOMIC STUDIES OF SECURITIES
証券経済学会• Established: 1966
• Number of members: 448• Representative: Yoshio KUMANO (Senshu University)• Publication: "Annals of Society for the Economic Studies of Securities" ー annually● Society for the Economic Studies of Securities
c/o Japan Securities Research Institute,Tokyo Shoken Kaikan,
1-5-8, Nihonbashi-Kayabacho, Chuo-ku, Tokyo 103, Japan
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THE ASSOCIATION FOR THE STUDYIN SOCIALIST ECONOMIES
社会主義経済学会• Established: 1967
• Number of members: 222• Chief Representative: Tsuneaki SATO (Nihon University)• Publication: "Bulletin of the Association for the Study in Socialist Economies"­
annually• Association for the Study in Socialist Economies
c/oProfessor Manabu SUHARA,
Nihon University,
1-3-2, Misaki-cho, Chiyoda-ku, Tokyo 101, Japan

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THE SOCIE TY FOR THE STUDY OF SOCIAL POLICY
社会政策学会• Established: 1950
• Number of members: 829• Representative manager: Ryotaro ISHIHATA (Aoyama Gakuin University)• Publication: "Shakai-Seisaku Gakkai Nenpo" (Annals of the Society for the Studyof Social Policy)●

Society for the Study of Social Policy
c/oProfessor Ryotaro ISHIHATA,
Faculty of Economics, Aoyama Gakuin University,
4-4-25, Shibuya, Shibuya-ku, Tokyo 150, Japan

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SOCIO-ECONOMIC HISTORY SOCIETY
社会経済史学会• Established: 1930
• Number of members: 1,140• Representative Director: Ken'ichiro SHODA (Waseda University)• Publication: "Shakai Keizai Shigaku" (Socio-Economic History)-bimonthly• Shakai Keizaishi Gakkai (Socio-Economic History Society)c/oProfessor H. KITO,
Sophia University,
7, Kioicho, Chiyoda-ku, Tokyo 102, Japan

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JAPAN STATISTICAL SOCIETY
日本統計学会• Established: 1931
• Number of members: 1,215• President: Hirotsugu AKAIKE (The Institute of Statistical Mathematics)• Publication: "Journal of the Japan Statistical Society" -biannually• Japan Statistical Society
c/o The Institute of Statistical Mathematics,
4-6-7, Minami-Azabu, Minato-ku, Tokyo 106, Japan
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JAPAN SOCIETY OF TRANSPORTATION ECONOMICS
日本交通学会• Established: 1941
• Number of members: 359 regular members including 8 advisory members(individual) and 43 special members (corporations)• President: Haruya HIROOKA (Hosei University)• Publication: "Kotsugaku Kenkyu" (Annual Report on Transportation Economics)• The Japan Society of Transportation Economics (Nihon Kotsu Gakkai)
c/o Unyu-Chosa-Kyoku,
7-1-1, Ueno, Taito-ku, Tokyo 110, Japan
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New membership 1990

JAPAN ACADEMY FOR CONSUMPTION ECONOMY
日本消費経済学会

DATE OF ESTABLISHMENT: 12 December 1976
OBJECTIVE:
The comprehensive study of consumption economy and consumer problems.
NUMBER OF MEMBERS:Regular members 314, supporting members 3
REPRESENTATIVE:
President: Shigeru NISHIMURA (Takushoku University)
ANNUAL MEETINGS:
Nation-wide meeting once a year, supplemented by meeting held by 7 regional
branches one or two times a year respectively
PUBLICATIONS:"The Annual Report of Japan Academy For Consumption Economy", published by
the administrative office of the Academy. Followings are the main themes.
No. 1

The Initial Number (February 1980)

No. 2

Issues of Consumption in 1980s No. 1 (February 1981)

No. 3

Issues of Consumption in 1980s No. 2 (February 1982)

No. 4

Issues of Consumption in 1980s No. 3 (February 1983)

No. 5

Issues of Consumption in 1980s No. 4 (February 1984)

No. 6

Issues of Consumption in 1980s No. 5 (February 1985)

No. 7

Issues of Modern Japanese Consumption (February 1986)

No. 8

Issues of Modern Consumer Society (February 1987)

No. 9

Modern Themes and Perspectives of Consumption Economy

No. 10Changes in Industry and Society, and Their Influences on Consumption

No. 11

Transition of Consumption Economy and Perspectives for 1990s(February 1988)(February 1989)(January 1990)
ADDRESS:
Japan Academy for Consumption Economy
Department of Commerce
Takushoku University, 3-4-14, Kohinata-cho, Bunkyo-ku, Tokyo 112, Japan
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New membership 1990

JAPANESE ASSOCIATION FOR INTERNATIONALACCOUNTING STUDIES
国際会計研究学会

DATE OF ES TABLISHMENT: 23 June 1984
OBJECTIVE:
The promotion of international accounting studies
NUMBER OF MEMBERS:
334 individuals, 12 supporting members and 5 honorary members
REPRESENTATIVE:
President: Kiyomitsu ARAI (Waseda University)
ANNU AL MEETINGS:
Once a year
PUBLICATIONS:"Bulletin of Japanese Association for International Accounting Studies", publishedby the administrative office of the Association.
Followings are the main themes.
Development and Present State of International Accounting

No. 1(March 1985)
No. 2

Financial Reports for Overseas Readers (March 1986)

No. 3

Accounting Problems of Multinational Enterprises (March 1987)

No. 4

Internationalization of Accounting Information (March 1988)

No. 5

The Present State and Future Prospects of EC Accounting (March 1989)

No. 6

Accounting and Its Environment (March 1990)

ADDRESS:
Japanese Association for International Accounting Studies
c/oProfessor Yoshikuni HIROSE
School of Commerce
Waseda University
6-1, Nishiwaseda 1-chome,
Shinjuku-ku, Tokyo 169, Japan

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