Vol. 14: David Price (Managing Director, Robert Half Japan) /News from the Nikkei Weekly dated 5.28.07
In this candid conversation, David explains the ins and outs of the great opportunities that exist in Japan for foreign and bilingual Japanese who understand high level financial and accounting on a global scale. The exposure and stockholder outrage over corporate scandals in the U.S. was mirrored by scandals and consequences in Japan. As a result, Japan’s Financial Instruments and Exchange Law (nicknamed ‘J-Sox’) was put into place in 2006. It has been dubbed the Japanese version of the Sarbanes-Oxley Act. The Japanese Financial Services Agency gives detailed instructions for Japanese companies on how they must report and what they must report.
The necessity for a high level of expertise in this area is more critical now because J-Sox will go into law in 2008 – and Japan does not have the number of qualified people it needs to deal with these requirements. And, as David notes, this is just one example of the need for strong upper-level management recruiting. Creative positions are also becoming contract positions. In short, the world of recruiting is moving fast, and Japan, as the world’s second-largest economy, must ramp up to compete in these areas.
The Nikkei Weekly Interview podcast series: Broadcaster Peter Barakan, eigoTown.com President Russell Wills, or Producer Terri MacMillan interview prominent foreign business people in Japan about business and the economy, along with the weekly headlines - in English.