Applying a desire for precision in a culture that embraces performance and productivity, Japan has always had a special ability to push the limits of manufacturing. Beginning, in earnest, during the postwar period, Japanese manufacturing has set the standard of engineering excellence from jet engines to hybrid vehicles in the last six decades. While Japanese manufacturing has become associated with high profile brands such as Sony in the consumer electronics market and Toyota, Honda, and Nissan in the automobile sector, Japanese manufacturing has a lot more to offer.
Overall, manufacturing accounts for 18% of Japan’s GDP, which translates to a value of $947 billion. While automobiles and consumer electronics do account for a significant portion (at least, in dollar terms) of Japan’s manufacturing GDP, focusing solely on these segments means overlooking other significant areas, such as:
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Aerospace- collaborating internationally, Japan produces its own defense aircraft as well as commercial satellites and launch systems.
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Petrochemicals- Japan is home to some of the world’s most advanced petrochemical companies, many of which are tied to the aforementioned automotive and aerospace industries.
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Biotechnology and Pharmaceuticals- besides being a world leader in biotechnology research and application, Japan has an $89 billion pharmaceutical industry, which accounts for 10% of the global share.
Japan‘s export market is diverse. One of the most important growth markets for Japanese companies is, however, the English speaking world. Globally, people who speak English as a first language only account for about 7% of the world’s population. However, they also account for approximately 37% of potential consumers of Japanese made electronics and automobiles. Translating that into dollars, the potential market value for Japanese goods in the English speaking world is in excess of $13 trillion.
To better meet the needs of this market segment, it is imperative that Japanese companies make an effort to reach out to and address English language customers. In some cases, this may be as simple as reexamining product instructions to assure that they are easily understood in English. However, for many companies, it would probably be advisable to offer multi-layered support, from initial marketing to instruction to follow-up support. In order to offer any of these services tailored to an English language audience in a cost-effective and efficient manner, seeking the assistance of a reputable language service provider is highly recommended.
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