#72: Stefan Sandström - How to do Business in Japan Beginner's Mind

Do you want to reach out to Japanese companies and universities? Then you should know what makes Japan special and different to have a smooth business experience.

Different Cultures – Different Rules and Different ways to success

Japan is the second biggest market for pharmaceuticals globally. The area is not only interesting for its sales potential; it is also a major R&D hub in Asia.

One of the best experts in Japanese business culture in the LSG2G Community is Stefan Sandström.

Stefan Sandström is a serial entrepreneur who lived his first life in Sweden and is now living his second life in Japan. Instead of entrepreneurship, he's set up a business development consultancy in Japan aiming at the biopharma industry. After 15 years in Japan and partnering with Mr. Kuboniwa (retired from Chugai, chairman of the management committee of JBA, Japan Bioindustry Association, chairman of GTB, Greater Tokyo Bio community, and an advisor for the Japan Government), we always help find the best solutions in increasing traction or finding the right partners.

We are talking about:
➡️ Japanese Martial Arts
➡️  How is daily life in Japan
➡️  Japanese Meeting Culture
➡️ The Role of Informal Meetings and
➡️ How to Negotiate Prices in Japan

Do you want to get in touch:

⏩  Stefan Sandström: https://www.linkedin.com/in/stefan-sandstr%C3%B6m-22279053/
⏩  Manifestum AB: https://www.manifestum.com/iris-biotech-an-exemplary-performance-of-how-to-do-business-in-japan/

📝 Shownotes: tbd

🎙️ Youtube: https://youtu.be/B1HrE8XYmB4

🕒  Timestamps:
(00:00) Introduction
(02:00) Kick-Off and Greetings to Yokohama
(03:15) The Covid Situation in Japan January 2022
(05:13) Reasons to Move to Japan
(06:20) Kendo and Japanese Martial Arts
(08:12) Martial Arts and Business
(12:07) What Makes the Japanese Business Culture So Unique?
(18:55) Daily Life in Japan
(27:30) What are the 3 most important things everybody needs to know before traveling to Japan?
(30:50) How Important is it to build business relationships in Japan?
(32:40) Business Background Stefan Sandström
(35:53) What is the Right Way to Engage with Japanese Companies? – A Case Study
(41:45) Japanese Meeting Culture – What are the differences between formal and informal meetings?
(43:45) Mind not only what happens in meetings but also what doesn’t happen in meetings
(45:15) What does it mean when in subsequent meetings, similar questions are asked?
(48:17) How is it perceived to change meeting dates on short notice?
(51:55) How to set up informal  meetings in Japan
(58:50) How to Negotiate the Price in Japan
(01:01:00) What is the best first step in creating business relations with Japanese companies?

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