Kazumi Hagihira
President & CEO
A Kyoto University graduate, Kazumi Hagihira worked for McKinsey & Company and Mitsubishi Corporation before joining BayCurrent. He has supported clients to develop strategies, globalize business, M&A, launch new service and innovate their operation and IT. His clients include blue chip enterprises in technology, communications, manufacturing, consumer goods/ retails, utility and finance.

From Japan to the World: The Responsibility and Aspiration of Japanese Firms

Japan’s Economy: Structural decline and our chance to emerge as a world leader

While Abenomics has brought an uptick to Japan’s domestic markets, the overall structural challenges facing Japan’s economy have only worsened. The problems of declining birthrate and aging population show no signs of abating, while emerging nations grow as economic powers. The flattening of the world continues as globalization spreads. The digital revolution has made Japan’s expertise in analog technologies and integral architecture moot. We have gone from our peak in the 1980s, where Japan’s economy was around 20% of the world GDP, to just 8% today, and this economic contraction is only expected to continue.

Faced with these conditions, for Japan to have a presence across the globe, we must leverage the power of the Japanese economy to its fullest extent and establish ourselves in foreign markets. It is imperative that, in spite of a weakening domestic economy, we raise our international profile as European corporations have done.

The solution is to implement new systems designed to solve the social problems facing Japan earlier than any other nations, such as our aging population and the deficit in our primary balance. Examples of such systems are urban space planning with the Internet of Things, dynamic value chains for manufacturing and distribution, integrating advanced technology into our healthcare systems and energy infrastructure, and new financial systems such as FinTech. Not only can we improve the world at large, it will bring energy and prosperity to the Japanese economy.

BayCurrent’s Commitment: Adapting to the needs of our clients

Given the above circumstances, our clients have already taken steps to ensure success. Many of our clients’ businesses are seeking to expand their overseas development and international coordination, or develop new business and operational models. As part of these efforts, we are seeing corporations create entirely new social systems and service that span multiple industries.

Here are just some of the areas we support:

・International relations:
Be it assisting Japanese corporations entering overseas markets or guiding international companies seeking to gain a foothold in Japan, BayCurrent provides consulting on international relations issues to more and more clients each year. Mergers and acquisitions, due diligence, and post-merger management are just a few of the areas in which we have a wide range of expertise. Additionally, we anticipate continued growth in the areas of global governance and global/regional organization.

・Cross-domain business models / service model development:
At BayCurrent, we reject the silo model and our consulting teams consist of individuals from multiple backgrounds and specialty areas. BayCurrent also boasts an extraordinarily large client platform. Our efforts see clients’ alliances in new industries to build new business, providing BayCurrent further avenues to serve their needs. This type of cross-domain growth has become another one of BayCurrent’s specialty areas.

・Strategic development to implementation (operation & IT):
As globalization and the digital revolution continue, a company’s success has become increasingly dependent on speedy execution. And as businesses become more diversified, it is critical to hire the best person for each job. BayCurrent employs over 1,000 consultants from every background imaginable. We are a “one-stop shop” for consulting needs, providing speedy, flexible, hands-on support from strategy development all the way to implementation and beyond.

BayCurrent employees: A talent pool that can perform in multiple fields

A consultant must not only meet the needs of its clients today, but continuously improve so that they may meet them tomorrow as well. Thus, we must strive to hire and train the best and brightest candidates we can find. BayCurrent proactively assigns employees to jobs that will improve their abilities, training them to become versatile enough to succeed in a wide range of professional areas. We provide continuous education and training (including English language education) to make our consultants effective on the international stage. In particular, we help our consultants reach their full potential by discarding the old ideas of rank and seniority taking precedence. Initiative and talent are rewarded with opportunity without the worry of one becoming a prisoner of their own success. Ours is a culture of constant improvement.

BayCurrent’s Responsibility and Aspiration: Becoming Japan’s first truly global firm

While BayCurrent is already one of the top firms in Japan, we are not content to rest on our laurels. Our most unique asset is the fact that we are headquartered in Japan. Our main office works constantly to improve and expand our global consulting strategies while working to meet the needs of both domestic and international clients.

The importance of international markets to Japan’s economy will only increase as time goes on. While we have and continue to serve clients inthe North America, Asia and Middle East, BayCurrent is committed to expanding our international networks, leveraging knowledge from Japan and around the world. And above it all, we remain focused on putting our clients first.

I thank you for your support and patronage.
Kazumi Hagihira