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November 30, 2000

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Asiaweek Time Asia Now Asiaweek story

OCTOBER 8, 1999 VOL. 25 NO. 40

M A N A G E R S   A T   W A R

At first he wondered if he'd survive Japan Inc.'s harsh new world. Now Hayakawa says, 'I'm kind of proud of myself'

Ohmori Satoru for Asiaweek
Money, Money, Money

In the old days, climbing the corporate ladder at Misumi Corp. worked like this. "The boss more or less decided who to promote or not," says company veteran Hayakawa Shigezo. "And employees had to be really nice to him to keep their jobs." Not anymore. Nowadays, executives at the Tokyo distributor of machine parts, select 24 team leaders each March and must justify their decisions to the entire staff. The team leaders present their goals for the next fiscal year. Then employees write down which leader they want to work for; team leaders do the same for the employees. Whoever doesn't make the grade must leave the company.

Employees First Lance Gokongwei, Cebu Pacific

Gambling with the Truth Sanan Angubolkul, Srithai Superware

A Scion Ditches the Past Cho Jung Ho, Hanjin Securities

Daughter Knows Best Adrienne Ma, Joyce Boutique

When Creditors Scream Rini Suwandi, Astra International

Money, Money, Money Hayakawa Shigezo, Misumi Corp.

Welcome to the harsh new world of Japan Inc. When Misumi introduced the new system in 1994, Hayakawa was terrified. He was "shaking like a jelly" the first time he stood up to deliver a speech to his team. "Iwondered if Icould survive in the new system," he recalls. "But now I am still here. Iam kind of proud of myself. This is the sixth time Ihave been selected a team leader." In fact, Hayakawa is now in charge of devising a new management philosophy. He has a team of three: himself, a Misumi staffer and one person recruited from a consulting company.

The team's big focus is on cutting personnel costs. The easy way, of course, is to lay off people. But Hayakawa, an avid reader of U.S. management books, understands that boosting productivity is the real answer to long-term savings. "I must not concentrate on firing people," he says, "but rather get the best out of the employee." At the same time, he acknowledges that he would rather hire young blood than work with existing older staff "who are stuck in the old Japanese way of doing things and basically resent change." He encourages his team to think independently and set their own goals. "It is okay for employees to play around for four months," he says, "if they finish their project early."

The downside is that the pressure on the employees has gone through the roof. "We have to be constantly on the alert and thinking about profits," says Hayakawa, 50. "It's money, money, money all the time. Of course there is no guarantee at all. Icould be fired anytime because I have made no profits." As it is, Hayakawa's team members once lost their bonus because they hadn't made any money. "It hit me hard," he says. "Our team members consoled each other and talked forever about how to improve."

NEXT: Employees First

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ASIAWEEK Newsmap: Get the week's leading news stories, by region, from Newsmap


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Philippine government denies Estrada's claim to presidency

Faith, madness, magic mix at sacred Hindu festival

Land mine explosion kills 11 Sri Lankan soldiers

Japan claims StarLink found in U.S. corn sample

Thai party announces first coalition partner


COVER: President Joseph Estrada gives in to the chanting crowds on the streets of Manila and agrees to make room for his Vice President

THAILAND: Twin teenage warriors turn themselves in to Bangkok officials

CHINA: Despite official vilification, hip Chinese dig Lamaist culture

PHOTO ESSAY: Estrada Calls Snap Election

WEB-ONLY INTERVIEW: Jimmy Lai on feeling lucky -- and why he's committed to the island state


COVER: The DoCoMo generation - Japan's leading mobile phone company goes global

Bandwidth Boom: Racing to wire - how underseas cable systems may yet fall short

TAIWAN: Party intrigues add to Chen Shui-bian's woes

JAPAN: Japan's ruling party crushes a rebel at a cost

SINGAPORE: Singaporeans need to have more babies. But success breeds selfishness

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