Deloitte Tohmatsu Group (Chiyoda-ku, Tokyo, CEO: Kenichi Kimura, hereinafter referred to as “Deloitte Tohmatsu”) is pleased to announce the “Survey on the Japanese Economy and the Competitiveness of Japanese Companies.” This survey examines the competitiveness of the Japanese economy, the issues that Japan needs to solve to improve its competitiveness, the policies, measures, and technologies that contribute to improving competitiveness, and businesspeople’s perceptions of the competitiveness of the companies they work for.・I analyzed it.
[Analysis of survey results]
The Nikkei Stock Average has reached its highest level since the heyday of the bubble economy, and major companies are increasing wages one after another. Against this backdrop, this survey revealed that businesspeople perceive the Japanese economy and the companies they work for as having low competitiveness. Many businesspeople selected structural issues such as “low birthrate and aging population” and “increasing labor productivity” as challenges for the Japanese economy to increase its competitiveness, followed by “stagnant technological development and innovation.” It has become. In order to strengthen competitiveness, it is essential to promote transformation (DX, GX) through the development and utilization of new technologies such as AI and next-generation energy, but 70% of businesspeople say that their workplace does not support new technologies. They perceive themselves as the type of company that carefully assesses risks, etc. and adopts them carefully, and the type of company that steadily promotes existing businesses.Although they are aware of the issues, they are slow to take countermeasures and actions, and their conservative corporate attitude is preventing them from making changes. There are concerns that this may lead to delays.
This survey will be conducted by Deloitte Tohmatsu in February 2024, targeting managers and above who work at companies with annual sales of 50 billion yen or more in Japan, focusing on themes such as innovation. The DTFA Institute conducted the survey. The number of valid responses was 483 people.
Please see below for details on the survey results.
Research report on the Japanese economy and the competitiveness of Japanese companies
https://faportal.deloitte.jp/institute/report/articles/001019.html
Summary of main findings
Businesspeople perceive the Japanese economy and Japanese companies as having low competitiveness
In response to the question “Is the current Japanese economy competitive?”, 31.5% answered “competitive,” 40.2% answered “not competitive,” and 28.4% answered “I can’t say.” The answer that there is no competitiveness exceeded the answer that there is a competitive edge by 8.7 points.
When asked whether the company they work for is competitive, 47.0% said it was competitive, 19.9% said it was not competitive, and 33.1% said they could not say. Despite targeting executives (section manager and above) of companies with sales of over 50 billion yen, the response rate of competitiveness did not reach 50%.
The results of this survey show that businesspeople are not optimistic about the Japanese economy or the competitiveness of companies.
Figure 1: Competitiveness of the Japanese economy and the companies you work for
*“Competitive” is the sum of “very competitive” and “slightly competitive,” and “not competitive” is the sum of “not very competitive” and “not at all competitive.” Aggregated as. (single answer)
Approximately 70% of businesspeople believe that the company they work for is “conservative”
When asked whether the company they work for is one that “steadily promotes existing businesses” or one that “actively creates new businesses and new business models,” the answer rate of the former was 65.6%. Furthermore, when asked whether they are the type of person who “carefully adopts new technologies after assessing risks, etc.” or the type who “takes the initiative and adopts new technologies quickly,” the answer rate for the former was 68.2%, with approximately 70% of respondents. , I recognize that the company I work for has a corporate culture that steadily promotes existing businesses and is cautious in adopting new technologies.
Figure 2: Type of company you work for
*Type A is calculated as the sum of “Applies to A” and “Rather applies to A.” (single answer)
Looking at the correlation between the competitiveness of the company they work for and the company type, businesspeople who answered that their company is “very competitive” are more likely to believe that their company is “actively creating new businesses and new business models.” ” type. Among those who answered anything other than “very competitive,” the majority said their company “steadily promotes existing business.”
Figure 3: Correlation between competitiveness and type of company you work for
(A: Steadily promote existing businesses ⇔ B: Create new businesses and new business models)
“AI” and “next-generation energy/environmental energy” are attracting attention as technologies with high importance for Japan’s economic growth.
When asked, “What technology is most important for Japan’s economic growth?”, “AI” had the highest response rate. Generative AI has been attracting attention since 2023, and in Japan, efforts are being made to utilize it effectively in both the public and private sectors, and the results of this survey also indicate the high level of interest among business people.
2nd place was “Next Generation Energy/Environmental Energy,” and 3rd place was “Cutting Edge Semiconductors.”
Looking at the reasons for choosing these technologies, they found that AI “is likely to be useful for innovation in society and business,” next-generation energy and environmental energy “is likely to contribute to resolving social issues,” and cutting-edge semiconductors “are likely to help create new industries.” “Because it seems to lead to this,” was the most frequently cited answer.
Figure 4: Technologies with high importance for Japan’s economic growth
*1st place = 3, 2nd place = 2, 3rd place = 1 and weighted. (Multiple answers from 1st to maximum 3rd place)
Regarding important themes for both the Japanese economy and workplaces, “human resource development” and “utilization of digital technology” were ranked first and second in both categories, and the difference in response rates was small. On the other hand, for certain policy-related themes, there is a large gap between “Important for Japan’s economic growth” and “Important for the company I work for,” with the largest difference being “Capturing inbound demand.” 32.1 points for “Startup development/promotion of collaboration with startups” and 27.3 points for “Startup development/promotion of collaboration with startups.”
Figure 5: Themes important to Japan’s economic growth/Themes important to the company you work for
*“Important” is calculated as the sum of “Important” and “Somewhat important”
[Survey overview]
Survey period: February 21-26, 2024
Survey method: Web questionnaire survey
Survey target: Managers and above working at companies with annual sales of 50 billion yen or more in Japan
Number of valid answers: 483
[About DTFA Institute]
“DTFA Institute” (Director: Group CGO Yoshihiro Maeda https://faportal.deloitte.jp/institute/) is a specialized organization whose parent organization is Deloitte Tohmatsu Financial Advisory LLC (DTFA: Representative Executive Officer and President Kazuhiro Fukushima). Based on DTFA’s strengths in M&A (corporate mergers and acquisitions), advice on crisis management, promotion of innovation, and IT/digital fields, we are conducting research and research aimed at the growth of Japan’s economy and industry.
Contact information regarding this matter
Deloitte Tohmatsu Group Public Relations Imura, Kikuchi
Tel: 03-6213-3210 Email: [email protected]
Related Links
Research report on the Japanese economy and the competitiveness of Japanese companies
https://faportal.deloitte.jp/institute/report/articles/001019.html
Tags: Deloitte Deloitte Tohmatsu Survey Japanese economy businesspeople perceive Japanese companies competitiveness Press Release Okinawa Times
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