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A Current Look at Japans Financial and Political RiskA global company faces a number of different types of risks-economic legal political and competitive The nature and severity of such risks are not the same for all countries A global company is in a position to manage such risks effectively by planning and implementing strategies aimed at diffusing risk By keeping a breast of news-breaking developments and not easily forgetting the past an international company will have the ability to achieve successful use of strategic risk management in the global business environment In the past five years much to their disgrace Japan has fell victim to numerous financial scandals In addition within the past month of April their devoted leader Prime Minister Keizo Obuchi suffered a life-threatening stroke These significant events disturbed the global economy to a great extent and brought a newfound appreciation for global strategic risk management For those International companies with operations in Japan that were able to effectively manage their assets amongst the arising developments were then able to avoid or limit risk exposure For those who were unable to strategically manage their risk exposure the consequences were severeIn October of 1995 the details of the Japanese banking scandal began to unravel as Toshihide Iguchis an employee of Daiwa Bank testified to US District Judge Michael Mukasey Not only did Toshihide Iguchi pleading guilty to covering up 11 billion in losses he had incurred Daiwa Banks New York operations he also told of how he had received more than 500000 in compensation for such a scandalous task This development astonished the entire world and would prove to almost destroy the once strong reputation of the Japanese banking industry He went further in his testimony to implicate that senior executives at the worlds 13th largest bank were involved in a conspiracy with him to keep the catastrophe hidden from the US Federal Reserve Board Toshihide Iguchis implications and testimony described how Japanese banks
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