HOW TO IMPRESS A JAPANESE FIRM
What do Japanese corporate finance officers think of the foreign bankers competing for their business? If praise could pay the rent, the foreigners would have no need to worry.
At Toshiba, where they make a point of seeing almost every banker who telephones, the general manager in the international finance division, Nobuyuki Horiuchi, said: "My first impression when I came into this job last year was of how many guests from foreign banks and securities companies we received every day. We think competition in the electronics business is tough -- but it's nothing compared to the financial services industry."
Horiuchi added that Toshiba maintained relationships with over 20 foreign banks. "They are a valuable source of information regarding financing and general economic conditions abroad. They keep us informed on the latest financial instruments, and sometimes we can use their worldwide network to get quick information about investing short-term funds. If we want to know what is going on in Iran, Argentina or South Africa, we will call a foreign bank."
Like several other Japanese financial officers, Horiuchi praised the foreigners for speeding up some necessary changes.