LAS449 Business and Economy of Japan

Autumn Semester 2025/26

15 credits

Module Organiser: Fumihito Gotoh (f.gotoh@sheffield.ac.uk)

Overview

This module tackles the following questions.

• How have domestic cultural-historical factors and international factors influenced the evolution of Japanese economic institutions?

• What contributed to Japan’s rapid economic development from the 1950s to the 1970s?

• What difficulties and challenges has the Japanese economy faced since the 1990s, and how do they compare with those of other economies?

• Why has Japan’s industrial policy been revived since the mid-2010s? What roles have state financial institutions played in this revival?

The module explores Japan’s corporate governance, financial and labour markets, bankruptcies, (skyrocketing) outward foreign direct investment, M&As, technology and environmental challenges by referring to specific examples (e.g. Toyota, Sony, Keyence, Recruit, Softbank and Hitachi).

Topics Covered

• Pre-WWII economic history and cultural norms 

• Developmental state and ‘embedded liberalism’ 

• Postwar corporate and financial systems 

• Neoliberal globalisation and financial and corporate reforms 

• Corporate bailouts and bankruptcies and domestic M&As 

• Foreign direct investment and crossborder M&As 

• Technology, innovation and state financial institutions 

• Changes in Labour and Employment 

•  Environmental challenges and the revival of industrial policy

Skills Development

• On successful completion of this module, you will be able to demonstrate:

• Critical Thinking

• Academic Writing

• Cultural Agility and Global Awareness

• Independent learning

• Communication Skills

Study Hours

The University recommends that you spend 150 hours working on a 15-credit module. This will include:

• Lecture: 10 hours

• Seminar: 10 hours

• Independent study hours: 130 hrs