News Letter

News Letter

Thursday, July 20, 2006

No 119

Dear Customers & Friends
Hello from Japan! This is Kimono Flea Market ICHIROYA's News Letter No.119.Bobby Valentine is reported to get offers from major league teams, and reject the Chiba Lotte Marine's offer, which is approx ten million dollars for three years. It is said to be 60% increase with three years contract. Lotte Marines seems to be re-offering twelve million dollars, but agreement is not reported.We hear that manager Torre gets nineteen million dollars for three years. We think Bobby's demand may be moderate, because he is the one of the best managers like Torre.But Lotte's is reported deficit of 2.5 million this year, and some people feel Bobby is too calculating and demanding, even if he loves Japanese Baseball. They say, 'How about giving him three-years' gums as extra?'( Lotte's holding company is a famouschewing gum maker.)
In these days Japanese ethics is changing with following Western way. Bobby's demand reminds me the difference between Japan and United States. We hear most people in United States don't hesitate to demand highest salary as possible as they can. Executives of major company usually get incredible amount of money, and at the same time they usually lead the company to make huge profit as equity holders expect. It is famous also in Japan that Jack Welch got huge salary at GE, and he was said to be the best of best among the major executives for a time.In Japan one of the respected top executive is Uichiro Niwa, who had been the CEO of ITOCHU Corporation for these six years. Itochu is one of the most major four commercial firms('shosya') in Japan, and ran into difficulties after the collapse of the asset-inflation bubble. In the first year he had to post a loss of approx 35 million USD. He didn't take any salary for a year and six months after that. He quit to use company vehicles to commute to the office. He commutes to work by train as regular employees. His private car is Toyota Corolla, which is the popular car. It must be very difficult to find other executives in Japan, who use a Corolla as their private car.His policy is, 'Clean, Honest and Beautiful'. And he says its backbone is Bushido(Samurai)Spirits. He demanded employees to be honest and clean(not-greedy), and he also kept hardened attitude as he said.He inspired the employees greatly, and transformed the company dramatically to the profitable company in six years. He quit on this April, as he said when he became the CEO.I think Jack Welch can inspire only a handful of elite, but Uichiro can inspire almost every employees, even though the financial results are the same.
Bushido spirits as Uichiro says is losing in modern Japan, so his way was looked fresh and impressive. But this spirits must have been the foundation of international competitiveness for Japanese products.If the all workers didn't have the passion to make better things, how the elaborate and fine textiles like kasuri or tsumugi could be made ?
We hope Bobby stay in Japan more three years, and hope to show us exciting story as this year. And we are very interested in his decision.
**We are adding haori, children's kimono and bolts- we hope you havesome time to check our new arrivals!
Thank you very much and have a wonderful new week!Ichiro & Yuka WadaKimono Flea Market "ICHIROYA"
e-mail: info@ichiroya.comaddress: Asia-shoji Bldg.301 1841-1 Nishi 1 chome Wakamatsu cho Tondabayashi city Osaka 584-0025 JAPANTEL&FAX ****( international number ) - 81-721-23-5446


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