Keiretsu: A Necessary Restructuring in the Face of Globalization

Keiretsu, or "affiliated companies," are the pillars of the Japanese economy. Since the 17th century, they have adapted to economic changes by working closely with the government. To serve the country's economy, their internal structure is constantly evolving. Today, they face their greatest challenge: transitioning from an ultra-protectionist system to one capable of adapting to the challenges of free-market capitalism and globalization. This study presents the different strategies adopted by the Toyota and Mitsubishi keiretsu. They highlight the complex relationships linking various stakeholders, which-despite the security they provide-prove to be an obstacle to urgently needed restructuring.