Final 835.docx - RESEARCH REPORT ACCG835 International...

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RESEARCH REPORTACCG835 – InternationalAccountingTopic 4 – Group members:Thu Hang Le44280300Tan Chia Sinn44279108[add]
Contents1.Introduction............................................................................................................................................32.Year 1598.................................................................................................................................................32.1.Powerful economic groups...............................................................................................................32.2.Nature of the Japanese business and industry...................................................................................32.3.Extent of control of the Japanese business and industry by powerful economic groups...................33.Year 1898 (Meiji period).........................................................................................................................33.1.Powerful economic groups...............................................................................................................33.2.Nature of the Japanese business and industry...................................................................................43.3.Extent of control of the Japanese business and industry by powerful economic groups...................44.Year 2018.................................................................................................................................................54.1.Powerful economic groups...............................................................................................................54.2Nature of the Japanese business and industry...................................................................................64.3Extent of control of the Japanese business and industry by powerful economic groups...................65.Evaluation/Conclusion...........................................................................................................................7References.......................................................................................................................................................82 |P a g e
1.Introduction[To be added]2.Year 15982.1.Powerful economic groupsIn the year 1598, independent shugo who were known as virtual warlords or daimyo in 16thcenturywere powerful economic groups of Japan. They acted as regional administration in the parallel withstate authority (shogun) (Jerzy 2006, page 4).2.2.Nature of the Japanese business and industryDuring the period bBetween 1592 and 1598, Japanese government mainly focused onthe invasiontoinvadingKorea rather thantheJapan’seconomic development. However, due to the impact of theKorea war, huge numbers of Korean including manyskilfulskillfulKorean potters were transportedto Japan, contributing to the improvement of Japan’s pottery such as Satsuma, Arita and Hagi(Wilson, Richard L. 1999). Accordingly, Japanese businessesweremainly developed in some areasincludinglikepottery and the dominant companiesin the marketare primarily internationalcompanies.In addition, according to K. Wishart (2011), the economy of Japan experienced several barriers suchas the prohibition of tradingebytheemperor of China as a result ofthepunishment of Wako pirate.As a result,thePortuguesehasenhanced their trading in Asiamarketby acting as an intermediarybetween Japan and China with exclusive dealing rights with Japan.As stated by Stuart (2002, page 235), thetaxfirst tax law system of Japan has been enacted,applying national wide with the tax assessed based on rice.Theimpact ofgovernment’s power over the economicymaderesulted intheunfair exchange offinancial informationexchanged unfairly,driving to theresulting in theslow development oftheJapanese economy without outstanding achievements.2.3.Extent of control of the Japanese business and industry by powerfuleconomic groupsIndependent shugo were all under the power of Japanese shogunate, named Ashikaga whoappointed them to be the head of each separate province.Therefore,Ttheir responsibilities weresupervising their divided estates and maintaining effective economic network (EncyclopediaBritannica 1999). This means that shogun had almost control power over their local business,leading to significant impacts to the whole industry under the supervision of Japanese government.

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Term
Three
Professor
N/A
Tags
japan, Empire of Japan, Meiji Restoration, Japanese government, Meiji period

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