Japan is taking the hits. Last months China surpassed it as the worlds’ second biggest economy. And now I read that only two Japanese companies made Forbes list of Asia’s 200 small companies — down from 24 last year. My, how the mighty have fallen. From Japan Today…
SINGAPORE —Only two Japanese firms made it onto Forbes magazine’s list Thursday of Asia’s 200 top small and medium companies. The number of Japanese firms dwindled from 24 last year according to Forbes latest annual ‘‘Best Under a Billion’’ list that picks 200 firms from 13,000 listed Asia-Pacific companies with sales below $1 billion.
Japanese firms lag far behind those from other Asian economies, including China, India and South Korea, in the ranking. The two Japanese companies that remain on the list this year are bicycle-maker and retailer Asahi Co and solar manufacturer NPC Inc.
According to Forbes, China plus Hong Kong led the pack with 71 firms, down from 78 last year. India has 39 firms on the list, up from 20 last year. There are also 20 South Korean firms, down from 23 last year, and 19 Taiwanese firms, up from 16 last year.
I suppose if a major criterion is rising sales, not many Japanese companies are going to impress. But Japan’s fall from grace is still stunning.
