LVMH-backed firm hunts for Japan consumer brands with $315m fund
U.S.-based L Catterton's 45 billion yen ($315 million) fund drew capital from foreign institutional investors as well as Japanese insurance and pension money.
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The Mainichi
8 hours ago
- The Mainichi
Majority of new hires in Japan prefer promotion by seniority over merit for 1st time: poll
TOKYO -- A Japanese university survey on new hires in fiscal 2025 has revealed a preference for promotion by seniority over a performance-based system for the first time since the survey's current methodology was introduced in fiscal 2006. The survey was conducted by Sanno University's Institute of Management. A representative noted, "Rather than competing, there is a growing desire among new employees to keep working while steadily gaining experience in a stable environment." When asked whether they preferred "meritocracy" or "seniority," a total of 43.6% of respondents opted for meritocracy, while 56.3% chose seniority, surpassing the halfway mark for the first time. Meritocracy had constantly overtaken seniority as a preference since fiscal 2006, when support for an achievement-based system stood at 65.3%, but this trend has now been reversed. Additionally, 69.4% of respondents expressed a desire for lifetime employment, and a total of 89.2% stated they wanted to work at the same company for a long time. Despite it being an era where job-hopping among young people is not uncommon, this survey revealed an unexpected situation where Japanese-style employment is increasingly preferred among new employees. Previously, job selection was heavily influenced by what respondents wanted to do, including the content of the positions, but "there may be an increasing trend of people choosing jobs more rationally as a means to enhance their private lives," according to the representative. In fact, the survey's "important factors when choosing an employer," with multiple answers allowed, also reflected this rational inclination: "job content" (24.1%) and "job type" (9.5%) have been on the decline, while aspects related to treatment, such as the "benefit package" (56.4%) and "salary level" (42.8%), have been increasing.
Japan Today
9 hours ago
- Japan Today
China pressed Japanese businessman to admit to spying in plea deal
Chinese authorities pushed a Japanese businessman, recently convicted by a Chinese court, to admit to spying in exchange for a lesser charge under a plea bargain, sources close to diplomatic ties said Sunday. The Beijing No. 2 Intermediate People's Court on Wednesday sentenced a man in his 60s working for Astellas Pharma Inc. to three years and six months in prison for espionage. The defendant admitted to the charge, but the verdict did not detail how he acted illegally. Legal experts said the sentence appeared more lenient than those given to other Japanese nationals tried on spying charges in China. In May this year, another Japanese man was sentenced to 12 years in prison for espionage by a Shanghai court. During questioning, authorities told the man and his lawyer what sentence he could expect if he pleaded guilty and explained the legal basis for it, the sources said. A 2018 amendment to China's criminal procedure law introduced a plea leniency system. According to people familiar with Sino-Japanese relations, the man was convicted of providing information to a Japanese intelligence agency and received rewards. The Astellas Pharma employee was detained in March 2023, just ahead of his scheduled return to Japan, was formally arrested in October of that year and was indicted in August 2024. He had served as an executive at the pharmaceutical company's Chinese unit and a senior official of the Japanese Chamber of Commerce and Industry in China. © KYODO
16 hours ago
Ishiba Says He Will Stay in Office
News from Japan Politics Jul 20, 2025 22:48 (JST) Tokyo, July 20 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Sunday that he will stay in office following the day's House of Councillors election. "The deadline for tariff talks (between Japan and the United States) comes on Aug. 1. We have to face it with all our might," Ishiba said on television. He said his ruling Liberal Democratic Party has no intention to abandon power. Ishiba also said, "Discussing (an expansion of the ruling coalition) with those who are responsible for the future of the country is an option." END [Copyright The Jiji Press, Ltd.] Jiji Press
