“AOTS E-Newsletter” is published by the Association for Overseas Technical Cooperation and Sustainable Partnerships (AOTS).
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Insight: Thoughts on the Management Philosophy of Various Japanese Companies
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Thoughts on the Management Philosophy of Various Japanese Companies – January 2024
Wakabayashi founded a new company, Hardlock Industry Co., Ltd., armed with the Hardlock Nut (“HLN”) he had invented, the only nuts in the world that never come loose.
However, it was not easy for his product and its value to be recognized and accepted in the market no matter how excellent his technology was.
It took him three years to get his company off the ground.
Wakabayashi had something in common with Kazuo Inamori, who also advocated that a business be run with the spirit of altruism.
When Inamori started Kyoto Ceramic Co., Ltd., he was in a similar situation as Wakabayashi.
When Kyoto Ceramic Co., Ltd. was a small unknown company, its products did not sell and Inamori continued to face difficulties.
Inamori spared no effort to develop prototypes. He packed his bag with the prototypes and spent many days visiting customers.
It was when his fine ceramic technology was later well received by IBM that his company started to grow rapidly.
He was driven by his intense desire to run the company for the public good.
Each day, Wakabayashi continued to visit many customers with his prototypes as well.
Those days, customers often compared the HLN with other anti-loosening products in terms of prices.
Inevitably, the prices of the HLM were higher than those of other products for structural reasons.
However, the HLN had much better anti-loosening performance than any other products.
Then, Wakabayashi decided to focus his attention on an industry where a nut, if loosened, could cause catastrophic consequences.
He identified the rail industry as that industry. In the rail industry, a nut, if loosened, could lead to a serious accident.
He provided rail companies with HLN samples for free and asked them to try using the samples for fastening derailment prevention guards and for protective walls.
None of the HLN samples came loose even after several months of use, and the fact that the HLN never comes loose was proved as a result.
The HLN became so popular that many rail companies and other organizations started placing orders for the product.
What drove Wakabayashi was his desire to bring joy and happiness to people with his inventions, and those who supported him were the people he worked with who shared his passion.
What’s crucial in managing a business in any case is the human spirit to do our best together to achieve a higher goal.
To be continued in the next edition.
Stay tuned for the next AOTS E-Newsletter.
Rikio Suma, Author
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