Tokyo, Japan Hotels and City Guide

Tokyo - Business Tips

Tokyo Local Economy

Tokyo is one of the three world finance "command centres", along with New York City and London. Tokyo has the largest metropolitan economy in the world. According to a study conducted by PricewaterhouseCoopers, the Tokyo urban area (35.2 million people) had a total GDP of US$1,191 billion in 2005 (at purchasing power parity), ranking again as the largest urban agglomeration GDP in the world. 50 of the companies listed on the Global 500 are based in Tokyo, almost twice that of the second-placed city.

Tokyo is a major international finance center, houses the headquarters of several of the world's largest investment banks and insurance companies, and serves as a hub for Japan's transportation, publishing, and broadcasting industries. During the centralized growth of Japan's economy following World War II, many large firms moved their headquarters from cities such as Osaka (the historical commercial capital) to Tokyo, in an attempt to take advantage of better access to the government. This trend has begun to slow due to ongoing population growth in Tokyo and the high cost of living there.

Tokyo was rated by the Economist Intelligence Unit as the most expensive (highest cost-of-living) city in the world for 14 years in a row ending in 2006. This analysis is for living a Western corporate executive lifestyle, with items like a detached house and several automobiles.

Tokyo had 8,460 ha (20,900 acres) of agricultural land as of 2003, according to the Ministry of Agriculture, Forestry and Fisheries, placing it last among the nation's prefectures. The farmland is concentrated in Western Tokyo. Perishables such as vegetables, fruits, and flowers can be conveniently shipped to the markets in the eastern part of the prefecture. Japanese leaf spinach and spinach are the most important vegetables; as of 2000, Tokyo supplied 32.5% of the Japanese leaf spinach sold at its central produce market.

With 36% of its area covered by forest, Tokyo has extensive growths of cryptomeria and Japanese cypress, especially in the mountainous western communities of Akiruno, Ōme, Okutama, Hachiōji, Hinode, and Hinohara. Decreases in the price of lumber, increases in the cost of production, and advancing old age among the forestry population have resulted in a decline in Tokyo's output. In addition, pollen, especially from cryptomeria, is a major allergen for the nearby population centers.

Tokyo Bay was once a major source of fish. Presently, most of Tokyo's fish production comes from the outer islands, such as Izu Ōshima and Hachijōjima. Skipjack tuna, nori, and aji are among the ocean products.

Tokyo Business Etiquette

Tokyo Dress Code
For business, smart clothes are essential with suits for men and tailored dresses or suits for women. Tokyo business people tend to be fairly formal in their dressing habits. Outside of business, casual dress is fine for most things although you may feel more comfortable if dressed in smart casual attire.

Greeting Someone in Tokyo
The Japanese custom is to bow when meeting somebody. When to bow and how much to do so is something that is very complicated and deeply ingrained in Japanese culture. Visitors are not expected to understand this and it is acceptable to shake hands. However, it will always be appreciated if you attempt a slight bow. Business cards are considered highly important so remember to take a good supply with you. Cards should be handed over in a rather courteous manner using both hands. They should be received in the same manner, treated with respect and referred to often, if only in ritual.

Tokyo Business Hours and Banking
Business hours in Tokyo are 09:00 to 17:00, Monday to Friday.

Tokyo Business General Customs

Business in Japan can be highly formal and greetings are usually rather ritualistic due to the hierarchical society; a third party introduction is useful. A polite bow is customary; the more senior the person, the deeper the bow. Business cards are exchanged often, using both hands. It can be useful to have cards printed with both English and Japanese, and one should present the card with the Japanese side facing the recipient.

Punctuality is very important and dress is formal. Women can encounter some sexism as traditionally women are seen as caregivers and wives. Gift giving is an important aspect of Japanese society and in a business context gifts are usually given after the first or second meeting. It is wise to consult someone locally on what is appropriate in order not to cause offence.

Hotels in Tokyo, Japan