The Japanese manufacturer has an excellent reputation not found with any other except perhaps Germany in the auto industry and the U.S. in consumer products quality standards. Japan is known to be a country that exports its finished products. It has very little natural resources and has to rely heavily on the Japanese manufacturer to keep the economy growing.
Some of major industries in Japan are automobiles, electronics, consumer electronics, semi-conductors, computers, gaming, pharmaceuticals, precious metals, processed foods, textiles, bio products, petrochemicals, ships, airplanes, aerospace, and consumer goods.
When the 3/11 earthquake happened, it was a huge blow to the world because of the sudden stop in manufacturing for many of these companies. They supplied the world and all of a sudden, they couldn’t. It was only a few months ago, in September that most of the manufacturers in Japan began to show signs of positive recovery. That is until floods in Bangkok, earthquakes in places where suppliers were located, the high prices of fuel, and the tanking of the foreign currencies like the US Dollar and the Euro.
Contrary to doomsday reporters and know-it-alls, the Japanese manufacturers managed to find a way to keep their morale and production high. Confidence among the business-minded and investors were restored, and the figures rose from a negative 9 to a positive 2 for these manufacturers. People believed that they would come back strong, and they did. Of course, the small manufacturing firms are still struggling to recoup their losses but the medium to large corporations are back on their feet.
Even confidence in the automakers rose from a negative 52 to a positive 13 from March 2011 to September of the same year. With many of the large companies forced to shut down and more than 20,000 dead or missing, this is an impressive come-back.
The industries that are still lagging behind are TV manufacturing and electronics because of the competing firms in China, India, and Korea. Panasonic is expected to report a dramatic loss of US$10.2 billion and Sony is revealing that it had to lower its sales target by 50% to 20 million TV sets.
The other industries are starting to invest in other countries to beef up their production and this move is seen as being the pivotal reason for their successful re-births.