ISSN 2189-9592

Vol. 4, No.2, May 2020

Japan Federation of Management RelatedAcademies

Vice President
Fangqi Xu (Japan Creativity Society, Kindai University)
Editor-in-Chief
Yukio Takagaki (Japan Academy of Management, Surugadai University)
Editorial Board
Shintaro Abe (Japan Academy of Consumer Education, Josai International University)
Takabumi Hayashi (Japan Scholarly Association for Asian Management, Tokyo Fuji University)
Toshio Goto (Japan Academy of Business Administration, Japan University of Economics)
Hisamitsu Ihara (Japan Society for Applied Management, Tokyo Fuji University)
Jun Oeki (Lanchester Society, Chuo Gakuin University)
David T. Methé（Japan Creativity Society, Kwansei Gakuin University）

Masayasu Takahashi (Japan Academy of Business Administration, Meiji University)
Kim Hua Tan (SFHEA :Senior Fellow of Higher Education Academy, University of Nottingham)
Hideo Ueki (Knowledge Management Society of Japan, Tsukuba Gakuin University)
Masamichi Yoshioka (Global Academic Community, Tokyo University of Science)
Advisory Board
Kazuo Hiramatsu (Japan Accounting Association, Kwansei Gakuin University)
Nobutaka Kazama (Association for the Study of Industrial Management (Japan), MeijiUniversity)
Takayuki Nonoyama (Japan Association for Management Systems, Aichi Sangyo University)
Takao Nuki (Association for the Study of Industrial Management (Japan), Musashi University)
Koji Okubayashi (Japan Society of Human Resource Management, Osaka InternationalUniversity)
Yoshihiro Tokuga (Japan Accounting Association, Kyoto University)
Akira Uchino (Japan Society of Business Mathematics, Senshu University)

ISSN 2189-9592

Vol.4, No.2, May 2020

Japan Federation of Management RelatedAcademies

Vol.4, No.2, May 2020
©2020 Japan Federation of Management Related Academies
All rights reserved. This journal may not be translated or copied in whole or in part without the written
permission except for brief excerpts in connection with reviews or scholarly analysis. Use in connection
with any form of information storage and retrieval, electronic adaptation, computer software, or by similaror dissimilar methodology new known or hereafter developed is forbidden.
The original English language edition published by JFMRA.

Greetings to Our Readers on the Eighth Issue of
the Journal of Japanese Management
The Japan Federation of Management Related Academies (JFMRA) was established onNovember 23, 2006. JFMRA is now through the affiliation of 55 academic societies in the fields
of management, accounting, commerce, and information management.
One of the main activities of JFMRA is to publish the Journal of Japanese Management,
the official publication of JFMRA.
Today, a few academic societies in Japan issue publishment solely in English; therefore,
by issuing this journal entirely in English, JFMRA aims to contribute to international
academic progress through advanced studies in wide-ranging research fields related tomanagement, management information, commerce, and accounting.
To date, social trends such as economic inequality, global environmental issues, the aging
and depopulating of societies, Sustainable Development Goals (SDGs), accelerated thedevelopment of new and emerging markets and innovations. Innovations, such as the Internetof things (IoT), artificial intelligence (AI), open innovation, and linkages that foster innovation,
have changed our lives, and generated numerous research themes for our researchers.
Accordingly, a wide-ranging interdisciplinary approach that calls for cooperation beyond theexisting academic framework of an individualistic society is needed. Therein lies thesignificance of JFMRA.
JFMRA has been focusing on the following themes: (1) the development of research andspread of knowledge in fields related to management, management information, accounting,and commerce; (2) research and contributions to society through education related tomanagement; (3) exchanges between various academies and researchers associated withmanagement; (4) cooperation with researchers overseas related to management; and (5)cooperation with the Science Council of Japan and other academic research communities.
JFMRA also organizes public lectures twice each year, an occasional meeting for the exchangeof ideas among members of the affiliations, as well as an annual symposium.
I rejoice at the release of the eighth issue (Vol.4, No.2) and would like to thank themembers of the Journal of Japanese Management (JJM) editorial board, especially Professor
Fangqi Xu, the Vice-President of JFMRA, and Professor Yukio Takagaki, the Chair of theeditorial board. I am confident that this issue will stimulate the readers intellectually. JFMRA,
with editorial board members, we sincerely wish this journal will become beyond the expectedlevels of many academic researchers at home and abroad.
Prof. Akira Uchino
President, Japan Federation of Management Related Academies
Professor, School of Commerce, Senshu University, Tokyo, Japani

Preface
It pleases me to announce the eighth electronic publication (Vol.4, No.2) of the Journalof Japanese Management (JJM), the official publication of the Japan Federation ofManagement Related Academies (JFMRA).
Though many academic associations exist in Japan, few appear to be active indisseminating Japanese knowledge abroad, particularly in the social sciences. It is incumbent
on us not only to continue conducting research on those Japanese managerial practices whichemphasize sound business management, but also to disseminate relevant strategies to theworld.
Needless to say, even though individual academic associations may be interested in
actively doing so, limited resources make it difficult to accomplish such a task. Fortunately,
many academic associations representing management, commerce, accounting, andmanagement information are participating in the Japan Federation of Management Related
Academics (JFMRA). One of the primary means of knowledge dissemination is the publicationof an academic journal in English. In today’s highly networked society (thanks to the Internet),
there is no doubt that electronic journals offer the most appropriate media, potentiallyaccessible to anyone at anytime, anywhere in the world.
There are three categories of JJM papers: (1) a paper of regular and/or equivalent
members (such as postgraduate members, etc.) of academic associations affiliated withJFMRA, (2) English translation of best paper from academic associations affiliated with
JFMRA, (3) selected paper from the international conference hosted by or sponsored by
JFMRA. For further detail, please refer to our web site < http://www.jfmra.org/jjm/>.
On behalf of the editorial board, I would like to acknowledge our appreciation to thoseacademic associations that participated in this effort; additionally, we are grateful to themanuscript contributors and the reviewers for their cooperation. We continue to work hard forthe further development of JJM.
Dr. Yukio Takagaki
Editor-in-Chief, Journal of Japanese Management
Board member, Japan Federation of Management Related Academics
Professor, Faculty of Economics and Business, Surugadai University, Saitama, Japanii

Journal of Japanese Management Vol.4, No.2, May 2020

ISSN 2189-9592

Contents

Greetings to Our Readers on the Eighth Issue ofthe Journal of JapaneseManagement・・・・・ i

Akira Uchino
Preface・・・・・ ii

Yukio Takagaki
A Study on Using Integrated Reports at Mega Banks:
Characteristics as Information Sharing Support Tools Within the Organization ・・・・・p.1
Mitsuru Akiyama
CEO Successor Characteristics and Issues of the Japanese Management System:
A Case of the Pharmaceutical Industry

・・・・・p.17

Miyano Horiuchi
Recommended paper by Japan Accounting Association
Appearance Process of Relationship between Public Financial Reports and Local Government
Bond Market: A Statistical Study Using U.S. States’ Data

Kentaro Haraguchiiii

・・・・・p.30