On July 6, it was our pleasure to co-sponsor the symposium, "Geopolitical Risks and the Future of Capitalism: How Should Japanese Firms Respond?" with the Keizai Koho Center. We were excited to welcome 250 participants who joined us at Keidanren Kaikan!
The first panel, "Navigating Geopolitical Risk," examined multilateral & clubs-based institutions and strategies of risk management from Japanese, Chinese, and U.S. perspectives. Mark Wu outlined the ex ante and ex post approaches to risk management. Rumi Aoyama examined the similarities in the Chinese and U.S. approaches to managing geopolitical risks. Kazuto Suzuki analyzed the weaponizing of interdependence and Japan’s Economic Security Promotion Act (ESPA). Glen Fukushima emphasized the importance of private sector experience for government leaders to understand how businesses address geopolitical risks.
The second panel, "The Future of Capitalism and Japanese Corporate Responses," discussed the recent changes in Japan's corporate governance from institutional and firm-level perspectives, and how such changes contrasted with developments in the U.S. Rick Dyck detailed the extraordinary transformations of Hitachi, as well as how U.S.-China tensions affect Japan's semiconductor industry. Masako Egawa highlighted the increase of independent directors in Japan's corporate boards, and opportunities to enhance board diversity and environmental, social, and governance (ESG) goals. Thierry Porte contrasted Japanese & U.S. approaches to managing risks, which are also shaped by the two countries' domestic political developments.
Prior to the symposium, symposium panelists met with Keidanren Vice Chairs to discuss how the Digital Transformation (DX), Green Transformation (GX), and pandemics are transforming Japan's and global economic agenda. It was our honor to meet with Japan's leading corporate executives, and we express our gratitude to Keidanren's staff.
After the symposium, we were excited to host the Harvard reception, together with the Harvard Club of Japan (HCJ), and welcome roughly 150 guests. It was our priviledge to feature Foreign Minister Yoshimasa Hayashi (MPA '94) as a keynote speaker. We thank HCJ President Jun Tsusaka and HCJ officers for their time and support.
