Abstract
The Division of Labour and Economic Development
Keiichiro Suenaga
Josai University
In this paper, the relationship between the division of labour and economic
development is theoretically considered from the viewpoint of the theory of economic
development or the development economics. Although the division of labour hasvarious effects on the economic development of the leader countries and the catch-up
process of follower countries, these effects have not systematically been considered in
the theory of economic development or the development economics.
This paper adopts the evolutionary approach as contrasted with the orthodox(neoclassical) economics. The economic development is not an equilibrium process but
an evolutionary process with new combinations as Schumpeter discusses. In addition,
the discussion of the division of labour of Smith and the new combinations ofSchumpeter also build the base of a theoretical framework. In particular, the divisionof labour and new combinations of knowledge have very important roles in economicdevelopment.
The concepts of the division of labour are extremely important for planning corporate
strategy and governmental policy. Although these concepts have not been emphasizedin orthodox economics, it is most important for firms and governments tosystematically incorporate the concept of the division of labour.

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Reconsideration of the Self-sufficiency Rate of Food:Examination of theValidity of a Policy Indicator for the International Trade Policy
Masaki Oda
Aoyama Gakuin University
This paper analyses the problems regarding calculation of the food self-sufficiency
ratio, based on historically adopted rates, which were used as indicators and policy
goals in Japan. Estimation of the food loss revealed a greater than 20% gap between
supply and demand of food. This was due to the food self-sufficiency ratio being
calculated without demand statistics. Using the author’s estimation, it can beconcluded that the current food self-sufficiency ratio is undesirable for developing
policy objectives to be used in international trade. A need for developing more rigorousstatistics standards is also emphasized.

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New Trade Finance Structures Based on Collaboration of TSU-BPO andForfaiting Business
Masataka Hanaki
Sumitomo Mitsui Banking Corporation
The International Chamber of Commerce -ICC launched two new rules in 2013. One
was for a Forfaiting transaction named ICC Uniform Rules for Forfaiting ICC
Publication No. 800 - URF800, and the other was for a TSU-BPO transaction named
the Uniform Rules for Bank Payment Obligation, ICC Publication No. 750 -URBPO750.
URF800 and URBPO750. They were implemented on January 1 and July 1 2013,
respectively. In September of that year, the first conclusion of the Forfaitingtransaction based on TSU-BPO by a Japanese bank was reported.
In this paper, the following three points will be studied. First, the outline and thefeatures of the forfaiting business will be overviewed. Second, the important traits ofURF800 will be clarified. Finally, impacts of the collaboration of TSU-BPO andForfaiting businesses on the trade finance business will be discussed.

3Conditions for the Sustainable Growth in a Global Market:
Case Study from Mid-size Japanese Company
Minoru Fukuda
Wise Consulting

Yoshihiro Miwa
Nagoya University of Commerce & Business
It is critical matter for Japanese companies that going GLOBAL. Many Japanesecompanies succeeded temporarily in a global market based on their capabilities
established in Japan local market. But they would stall after a period of time. So weneed to clarify the conditions for achieving sustainable growth of Japanese companies
in a global market. In this article, we try to identify such conditions based on “DynamicCapability Framework”, focusing on the dynamic capabilities on Top Management. We
use case-study approach about one Japanese company that have established theposition in global market but stalled in about only 3 years. We analyze this case study
in view of three as followings; Recognition, Human Resources and Social Capital. And
we are supported with the concept as Core Competence for identifying Management
Recognitions. The study in this article is just experimental and the objective is focusedon deriving hypothesis about such conditions. But we find it important those Dynamic
Capabilities on Top Management, expressing as Core Competence, and also suchcapabilities are checked and balanced with Organizational Heritage, Human
Resources and Social Capabilities. Especially for Japanese companies on the premiseof long-term employment, Social Capital is the key to success sustainable growth.

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A Study on the Performance Evaluation of Japanese Investments in AsianCompanies
Takashi Masuyama
Josai University
This paper deals with the performance evaluation and disclosure standards ofJapanese investments in Asian companies. Especially, I focus on two cases such as
negative investment performances caused by the flooding environments during the2011 monsoon season in Thailand. Direct investments and indirect investments aredifferently classified in the IMF balance of payments statistics. However, affiliatedcompanies’ activities should be included in the scope and disclosure by the Japaneseparent company’s management. Risk assessment and risk control are irrelevant
regardless of classifications, as long as the parent takes actual responsibilities in thoseaffiliates. From an investor’s viewpoint, I will propose a standard list of information
investors most likely require the parent to disclose in case of emergency.

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Present status and future issues of the Japanese Rare Earth Industry
Katsuhiro Kuroda
Sojitz Corporation
Rare earth is sometimes called to be a `vitamin` for various industries and it isespecially necessary and indispensable for the high technology industries that includes
automotive, sophisticated home appliance and medical equipments and so on. In thepast few years, rare earth related subjects have been critical topics because of supply
shortage of the material, enormous price fluctuation, and US/EU/Japan’s suits over
China`s rare earth export quotas.

In this paper, present situation of rare earth

industry is researched for the first part. And it is also studied why and how the above
critical issues came up and how we should find proper solutions for future stable
market and continuous growth of rare earth industry for coming years. China, thebiggest supplier of rare earth, and Japan, the biggest consumer of rare earth, are thekey players. And both of them need to cooperate more closely and jointly own strategy
for future growth as well as the most advanced technology for environmental solution,saving and recycling material and new potential applications under the concept ofSupply Chain CSR management.

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