WITLife #6 – Toyota Shock
Japan Trends, Translating/Interpreting, WIT Life, Writers 
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WITLife is a periodic series written by professional Interpreter/Translator/Writer Stacy Smith (Kumamoto-ken, 2000-03).
In my previous post I mentioned that in Japan they use “Lehman shock” to refer to the crumbling of our financial institutions, and it seems like they are seeing the same phenomenon at home.
On the news yesterday morning the buzzword “Toyota shock” was used, referring to the economic woes Japan’s most famous and successful brand is having and its repercussions. (I’m waiting to see what they come up with for other countries. Is “Samsung shock” for Korea next?).
Factories are being closed in Aichi Prefecture where Toyota headquarters is located, as well as in more far-flung locations such as Oita Prefecture in Kyushu. There they have laid off 1,000 employees, who lose not only their jobs but their homes as they lived in company dorms.
Toyota is not the only company feeling the pain. Other major Japanese corporations are dealing with similar pressure to stay afloat. Canon has reported great profit loss and Sony announced that by year’s end they will be cutting 16,000 contract employees. Clearly even Japan’s strongest are not immune to the effects of the economic downturn.
On another note relating to the economy, in an attempt to revive the flailing Japanese real estate market where only 25% of people are looking to buy, there have been some interesting innovations on the part of real estate companies. For example, in addition to providing tours of the physical properties, they are offering cruises around certain cities in gondolas! Yes, potential customers ride Venice-style complete with a gondolier. The hope is that the participants are so enthralled by this water tour that they end up feeling like they just have to live there.
Another unusual option for customers is the chance to not only look at a model home, but to stay overnight. After a standard tour they are invited to cook a meal in the kitchen and see how comfortable the place actually is. As the agent explained, “There’s only so much you can tell by just looking at a catalog.”
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