On Oct. 3, 2018, PwC hosted an Analyst Day in their Japan Experience Center. Analyst firm TBR was in attendance. Patrick Heffernan of TBR recapped his experience in an Event Perspective note.
Koichiro Kimura, PwC’s Japan group chairman and territory senior partner, kicked off the day with “the firm’s growth and strategy in Japan as well as initiatives launched by both the Experience Center and the firm’s Data & Analytics (D&A) practice.” Business-wide leaders and local clients provided examples of PwC’s offerings, including cybersecurity, business process reengineering, artificial intelligence and change management.
The location of the event illustrated PwC’s commitment to extending their BXT approach across the globe. Per Heffernan, “After spending a day with PwC Japan’s local leaders, hearing client stories and listening to how the firm will adapt to the “Business, Experience, Technology” (BXT) approach championed by the new Experience Center in Tokyo, it comes as no surprise the firm earns more than half of its consulting revenue from technology-related engagements.”
The firm outlined challenges in the local landscape including “overregulation, terrorism and geopolitical uncertainty as the top three threats to growth…the availability of key skills, especially in digital and emerging technologies.” Additional context around the marketplace, includes “local companies have expressed a renewed interest in overseas M&A opportunities, in part due to saturation of the Japanese market.” The research concluded, “Even after folding in cybersecurity issues and overall political and economic risk, plus the costs associated with post-merger integration, the M&A picture appears positive, but quietly so.”
In discussing the global business landscape and how it relates to Japan, the overwhelming sentiment of the day was summed up by PwC’s leaders, “PwC’s local leaders, including Susumu Adachi, Consulting CEO (Japan); Yukinori Morishita, Group Markets leader; and Nobuaki Otake, Business Transformation lead partner, repeated the message that PwC’s expanding role in Japan revolved around trust.”
The report details three client stories that were illustrative of PwC’s “opportunities and challenges in the Japanese market”, as laid out by Heffernan, below:
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PwC Global Analyst Relations, PwC United States
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