Innovation
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In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Hirofumi Takinami, "Political Economy of the Financial Crises in Japan & United States - A Comparative Study on the Bailout of Financial Institutions"

Currently, the United States is suffering from a financial crisis.  Japan has struggled with a financial crisis from the late 1990's to the early 2000's.  What implications can be drawn from these crisis experiences of the two largest economies in the world?  As one part of a collaborative research with Professor Phillip Lipscy on "Policy Innovation in Japan and the United States:  A Comparative Study of Response to Finiancial Crises", Takinami analyzes which elements are crucial in the use of bailout of financial institutions as a means to address financial crises.  Stressing that taxpayers' understanding and market sentiment are key, he makes arguments especially on the "learning effect" of Japanese financial crisis and the importance of action by the national leader and his/her secretarial organizations.

 

Takashi Uchida, "Comparative Research Study of Manufacturing Between the United States and Japan"

Manufacturing consists of upstream (raw material suppliers), middle stream (casting, dyes, metal press, etc.) and downstream (automobile companies, machinery companies, and electric companies).  To accurately view the structure of manufacturing as "supply chain", Uchida analyzes where manufacturing value comes from.  In particular, Uchida takes a look at the automobile market, comparing the difference between manufacturing in Japan and the United States.

 

Zheng Wang, "Valuation and Integration of Intangible Assets in Mergers and Acquisitions"

In modern economies, a large proportion of a company's assets tend to be intangible, such as brand names.  Intangible assets have become one of the key factors behind a company's competitive strength.  In particular, obtaining a target's intangible assets has been the major driving force in M&A activities during the past years.

M&A for intangible assets tends to be more complicated than for tangible assets, mainly due to the challenges in terms of valuation and post-deal integration.  In this research presentation, Wang analyzes some special issues in valuation and integration of intangible assets in M&As, and tries to draw useful lessons on M&A for intangible assets through case study.

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Corporate Affiliate Visiting Fellow
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Hirofumi Takinami is a corporate affiliate visiting fellow at Shorenstein APARC for 2009-10 and 2010-11.  He is currently undertaking a collaborative research with Professor Phillip Lipscy, one of the faculty of Shorenstein APARC and Assistant Professor in the Department of Political Science, on the financial crises in Japan and the U.S.

Takinami has been working for the Japanese government for 16 years.  He served, among others, in policy coordination and management positions notably in the public finance area, including Deputy Cabinet Counselor in charge of coordinating domestic and economic policies at Cabinet Secretariat; Director for Office of Planning and Personnel Management, Deputy Budget Examiner on social security expenditures and Deputy Director for Legal Division at the Ministry of Finance.

In addition to positions related to domestic policy, Takinami also worked internationally, attending as one of Japanese delegates to meetings, including Ministerial-level, of Asia-Pacific Economic Cooperation (APEC) and the Asia Europe Meeting (ASEM).  While sent to the Ministry of Justice, he served as Special Advisory Staff to the Director-General of Criminal Affairs Bureau, addressing international economic crimes. 

Takinami graduated from the University of Tokyo in 1994, earning a Bachelor of Law.  In his first dispatch to the United States by the Ministry of Finance, he received a Master of Public Policy from the University of Chicago in 1998 with a major in finance and public finance.

Takinami was born and raised in Ono, Fukui, the prefecture next to Kyoto, known for producing many CEO's in Japan.  He is proud of inheriting the virtues of "dilligence, honesty and gratitutde" of this snowy country.

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Hirofumi Takinami Ministry of Finance, Japan Speaker
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Corporate Affiliate Visiting Fellow
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Takashi Uchida is a corporate affiliate visiting fellow at Shorenstein APARC for 2009-10. Prior to joining Shorenstein APARC, he held positions at the Ministry of Economy, Trade and Industry (METI) for about 10 years, where he took charge of policy making.  His latest position at METI was as deputy director in Manufacturing Industries Bureau.  He graduated from Kyoto University in Economics.

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Takashi Uchida Ministry of Economy, Trade & Inudustry, Japan Speaker
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Corporate Affiliate Visiting Fellow
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Zheng Wang is a corporate affiliate visiting fellow at Shorenstein APARC for 2009-2010. She is also currently deputy director-general of M&A Department of PetroChina Company Limited in China. She received her BA and MA in Finance from Renmin University of P.R.China, and has worked for PetroChina Company Limited and its parent company,  China National Petroeum Corporation (CNPC), for more than twenty years after graduation. In the past years and currently, most of the fields which she has engaged in are related to M&A, equity capital markets and foreign debt management.

 

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Zheng Wang PetroChina Company Speaker
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The United States belongs to various organizations and networks that encompass countries on both sides of the Pacific Ocean.  The East Asia Summit (EAS) is not among them.  Should the US try to join?  This paper answers that question with a qualified yes:  Despite formidable difficulties affecting President Obama’s schedule of foreign travel, his administration should try to “ease” the US into the Summit, initially as a guest of the host country.  Eventually, pending a review of the EAS’s prior performance and future prospects, the administration may wish to upgrade that status to membership.  The paper uses this case to illustrate larger themes, discusses the relevance of frameworks other than the EAS, and recommends, between radical innovation and benign indifference, a policy of creative adaptation to regionalism in East Asia.

Note:  In July 2010 the Obama administration announced that it would, in effect, ease into an affiliation with the EAS.  The initiative would include Secretary of State Hillary Clinton's attendance at the Summit in Hanoi in October 2010 and could include a trip by President Obama to the 2011 Summit in Indonesia.

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Publication Type
Working Papers
Publication Date
Journal Publisher
S. Rajaratnam School of International Studies Working Paper #193
Authors
Donald K. Emmerson
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Long before the current global economic crisis, Japan adopted important reforms in commerce, corporate governance, finance, and education. These changes stemming from the 1990s "lost decade" have created new opportunities for entrepreneurial activity.
Following a presentation of new cross-sectional data on 60,000 operating Japanese corporations started in the last decade, the panel will discuss the state of Japanese entrepreneurship. What companies are forming? Who is behind them? What are their potential fates?

This discussion is part of continuing research being undertaken by SPRIE's Stanford Project on Japanese Entrepreneurship and is presented in conjunction with Entrepreneurship Week at Stanford.

About the Panelists

rdasher Richard Dasher
Richard Dasher is Director of the US-Asia Technology Management Center at Stanford University and has been with the Center since 1993. Dr. Dasher maintains an active business consulting practice on international strategy and planning, technology trend and opportunity analysis, and Japan market entry and performance improvement.

 

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bob eberhart
Robert Eberhart is the SPRIE Researcher at the Stanford Program on Regions of Innovation and Entrepreneurship and leads the SPRIE-Stanford Project on Japanese Entrepreneurship. He researches comparative corporate governance of growth companies with emphasis on Japan and the role of institutions in fostering entrepreneurship. Previously, he founded and served as CEO of WineInStyle, a VC-funded start-up Japanese company.

 

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kagami sensei
Shigeo Kagami is Professor and General Manager of Science Entrepreneurship and Enterprise Development (SEED) at the University of Tokyo. His responsibilities there include entrepreneurship education, management of incubation facilities for university start-ups, and relationship management with The University of Tokyo Edge Capital.

 

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Kushida profile

Kenji E. Kushida is a Graduate Researcher at the Berkeley Roundtable on the International Economy (BRIE) and a PhD candidate in the Department of Political Science at University of California Berkeley.

 

 

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miller headshot
William Miller is Co-Director of the Stanford Program on Regions of Innovation and Entrepreneurship. Serving as Vice President and Provost of Stanford and President and CEO of SRI International are just two of the many highlights of Dr. Miller's illustrious career in business and academia. He currently serves as Chairman of the Board of Sentius Corporation and is a Founder and Chairman of Nanostellar, Inc.

 

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miner
Allen Miner is a founder and General Partner of SunBridge Partners and founder and Director of SunBridge Corporation. After joining Oracle Corporation in 1986 he founded and helped lead Oracle Japan, and later served as Oracle's Vice President in charge of Linux/Open Source. He founded SunBridge Corporation in 1999 with the aim of creating a dynamic, collaborative environment in which Japanese information technology startups develop at a globally competitive pace.

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U.S.-Asia Technology Management Center
School of Engineering
Stanford, CA

(650) 724-0096 (650) 725-9974
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Consulting Professor
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At Stanford University, Dr. Dasher has directed the US-Asia Technology Management Center since 1994, and he has been Executive Director of the Center for Integrated Systems since 1998. He holds Consulting Professor appointments at Stanford in the Departments of Electrical Engineering (technology management), Asian Languages and Cultures (Japanese business), and at the Asia-Pacific Research Center for his work with the Stanford Program on Regions of Innovation and Entrepreneurship. He is also faculty adviser to student-run organizations such as the Asia-Pacific Student Entrepreneurship Society and the Forum for American/Chinese Exchange at Stanford.

From 2004, Dr. Dasher became the first non-Japanese person ever asked to join the governance of a Japanese national university, serving a term as a Board Director (理事) of Tohoku University . He continued as a member of the Management Council (経営協議会) until March 2010, and he now serves as Senior Advisor to the President (総長顧問) of Tohoku University. Dr. Dasher has been a member of the high-profile Program Committee of the World Premier International Research Center Initiative (WPI) of the Japanese Ministry of Education (MEXT) since 2007. He has served on the Multidisciplinary Assessment Committee of the C$500 million Canada Foundation for Innovation Leading Edge Fund in 2007 and again in 2010, and as a member of the Phase I and Phase II Review Panels of the C$200 million Canada Excellence Research Chairs Program in 2008 and again in 2010. He was a distinguished reviewer of the Hong Kong S.A.R. study on innovation in 2008–09, and since 2007 he has been a member of the Foresight Panel of the German Ministry of Education and Research. From 2001–03, Dr. Dasher was on the International Planning Committee advising the Japanese Minister of State for Science and Technology Policy in regard to the formation of the Okinawa Institute of Science and Technology.

As allowed by Stanford policy, Dr. Dasher maintains an active management consulting practice, through which he is an advisor to start-up companies and large firms in the U.S., Japan, and China. He has been a board director of Tokyo-based ZyCube Inc. since 2006, and he is founder and chairman of Pearl Executive Shuttle in Valdosta, Georgia, U.S.A. In the non-profit sector, he is a Board Director of the Japan Society of Northern California and the Keizai Society U.S. – Japan Business Forum, and he is an advisor to organizations such as the Chinese Information and Networking Association, the Silicon Valley – China Wireless Technology Association, and the International Foundation for Entrepreneurship in Science and Technology (iFEST). In 2010 he served as a consultant to The Indus Entrepreneurs (TiE) in regard to their establishment of a worldwide remote mentoring program for entrepreneurs. Dr. Dasher frequently gives speeches and seminars throughout Japan and Asia, as well as in the U.S. Recent appearances include the Nikkei Shimbun Business Innovation Forum, the Foreign Correspondents Club of Japan, speaking tours of Japan co-sponsored by METI and the U.S. Embassy in Tokyo, and guest lectures at Chubu University, Kochi University of Technology, Ritsumeikan Asia Pacific University, and the University of Tokyo.

From 1990–93, Dr. Dasher was a board director of two privately-held Japanese companies in Tokyo, at which he developed new business in international licensing of media rights packages and other intellectual properties. From 1986–90, he was Director of the U.S. State Department’s Foreign Service Institute advanced field schools in Japan and Korea, which provide full-time language and area training to U.S. and select Commonwealth country diplomats assigned to those countries. He received M.A. and Ph.D. degrees in Linguistics from Stanford University and, along with Prof. Elizabeth Closs Traugott, he is co-author of the often-cited book Regularity in Semantic Change (Cambridge University Press, 2002). He received the Bachelor of Music degree in clarinet and orchestra conducting from the San Francisco Conservatory of Music, where he served on the faculty from 1978-85.

Richard Dasher Panelist
Robert Eberhart Panelist
Shigeo Kagami Professor and General Manager Panelist Science Entrepreneurship and Enterprise Development, University of Tokyo
Kenji Kushida BRIE Fellow Panelist UC Berkeley
William F. Miller Panelist
Allen Miner Founder and General Partner Panelist Sunbridge Partners
Conferences
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Since the inception of reform and opening-up thirty years ago, China has established a record of astonishing economic achievements and is, or will soon be, surpassing Japan as the world's second largest economy, something few people would have imagined three decades ago.

The information and communications technologies (ICT) industry is the backbone of the Chinese export driven growth strategy, which many argue as the primary driver of China's economic growth. Recent ICT policy initiatives demonstrate China's shifting strategy in pursuing a different path for the next phase of economic growth.

Promoting indigenous innovation and strengthening information security may be considered the two major thrusts of Chinese ICT policy initiatives. Technical standards, IPR treatments, government procurement, and special industry incentives are some examples of the former domain; internet filtering, compulsory certification of information security product, and encryption control are examples of the latter.

Many of these initiatives are controversial in the international trade arena. However, the real challenges of these policy initiatives concern whether they work to achieve the Chinese government's goal of maintaining sustainable growth. This presentation will attempt to evaluate these challenges.

Dr. John C. Chiang was appointed as Director of Global Innovation Research Center at Peking University in June 2008. He joined PKU in February 2006 as Professor in the Department of Management of Technology at the School of Software and Microelectronics. Dr. Chiang is also President of USITO, the organization representing five major US IT industry trade associations and close to 50 individual U.S. IT companies in China, a role he has held since October 2008.

Dr. Chiang came to China in 2000, joining Motorola China as Deputy GM of the infrastructure business unit, spearheading its post-WTO strategy. He then moved to Motorola China HQ, serving as Senior Director of Strategy and Business Development. In 2003, he served as Director of Motorola China R&D Institute, and in 2004, he became the founding president of Motorola (China) Technologies, Limited.

From October 2006 to September 2008, Dr. Chiang was a Partner in DragonBridge Capital, a U.S.-based merchant bank with China as its primary serving market.

Dr. Chiang was born in Beijing, raised in Taiwan, and received the Ph.D. from Johns Hopkins University in 1975. He received the EMBA from Georgia State University in 1989.

After his academic career, Dr. Chiang joined Bell Laboratories in 1979, and later held progressive technical and managerial positions at Racal-Milgo, Hayes, and GTE. He was Senior Vice President of Operations at KG Telecom and led the launch of the first private mobile services in Taiwan, during 1997-2000.

Dr. Chiang currently also serves as the Vice Chair of the China Association of Standards and as an Investment Advisor to the Beijing Municipal Government.

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John C. Chiang Director, Global Innovation Research Center Speaker Peking University
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This conference will present and discuss new papers aimed at understanding the trends and dynamics of business and innovation in Japan through the lens of entrepreneurial companies, and institutions that affect those companies.

The papers, encompassing disciplines including economics, policital science and law, will be presented on four subject areas:

  • New company formation
  • Industry specific studies
  • Innovation strategies
  • Innovation and entrepreneurship in politics and law

» Presentations/Papers from the event

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Conferences
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After a decade of economic institution reforms and consistent growth, the recent recession has sharply curtailed Japan's manufacturing and service activity, even though its banks have endured relatively unscathed. Many in Japan now look to entrepreneurship and innovation as an important part of the continued restructuring of its economy. This event will review data from a new 50,000 company database of recently incorporated Japanese firms to begin a dialogue on entrepreneurialism in Japan with policy makers, academics, and business leaders. The dialogue will be held simultaneously in Japan and the US over Cisco's TelePresence system.

Cisco Telepresence

Robert Eberhart Speaker
William Miller Speaker
Conferences
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Ambassador John V. Roos offers his informal off-the-record remarks on current and future U.S. - Japan Relations.

On May 27, 2009, President Barack Obama nominated John V. Roos to be Ambassador Extraordinary and Plenipotentiary of the United States of America to Japan. He was confirmed by the Senate on August 7, 2009, and was sworn in on August 16, 2009. Prior to his appointment as ambassador, Mr. Roos served as Chief Executive Officer at Wilson Sonsini Goodrich & Rosati, a law firm headquartered in Silicon Valley which is known for its representation of technology, life sciences, and growth companies. Mr. Roos had been a partner at the firm since 1988 and also served in a number of other senior leadership roles including the firm's Board of Directors.

Mr. Roos helped lead the firm during the waves of innovation in Silicon Valley, from the growth of software and communications, to the Internet Age and the emergence of biotechnology, to today's focus on clean technology and renewable energy. He was a leader in cultivating the firm's diversity initiatives. Mr. Roos has been active in local government and served on national political campaigns for President Obama, former Vice President Walter Mondale and Senator Bill Bradley, among others.

Mr. Roos grew up in San Francisco and graduated from Lowell High School in 1973 before attending college at Stanford University, from which he graduated Phi Beta Kappa with honors and distinction in 1977. He then went on to Stanford Law School, where he was a member of the Stanford Law Review and Order of the Coif, earning his Juris Doctor in 1980.

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John V. Roos U.S. Ambassador to Japan Speaker Embassy of the United States, Japan
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