University of Waterloo - School of Accounting and Finance

To wrap up their fourth day in Japan, our International Study Course class met with the Japan subsidiary of Royal Dutch Shell, a multinational oil and gas company. Shell Japan meets the needs of Japanese clients by acting as an intermediary to purchase and distribute Shell’s products. By expanding into the energy trading business, Shell has strategically positioned itself to capture and hold significant sectors of Japan’s energy market. Thank you to Yasuko Yoshida for giving our students the opportunity to learn about this major industry! Here are some key takeaways from the meeting: - Japan's current energy landscape has been significantly shaped by the decommissioning of nuclear energy in 2011. - The Japanese government has set aggressive "Green Targets" for 2030 to promote more sustainable operations. - Unlike global trends showing growth in energy consumption, Japan's numbers have declined due to advancements in technology and improvements in fuel efficiency. Thank you to the Shell Japan team for sharing their time and expertise . #UWaterloo #SAFabroad #ShellJapan #RoyalDutchShell #JapanBusiness #InternationalStudyCourse #EnergyMarket #Sustainability #GreenEnergy #GlobalBusiness

As part of their visit to Japan this week, our International Study Course students met with NRI (Nomura Research Institute), one of Japan's first private think tanks. NRI focuses on providing social recommendations through in-depth investigation and research. They are dedicated to promoting the transformation of organizations, businesses, and ultimately, society. A special thank you to Sho Tsujimura, PMP for meeting with our students and sharing your expertise! Here are some key takeaways from the meeting: - The introduction of AI is significantly impacting consulting services in Japan. - An overview of Japan's current energy sources and the ongoing energy transition process. - The Japanese government has launched initiatives, including the Green Transformation League, to promote a sustainable ecosystem. Thank you to the NRI team for this insightful session. #UWaterloo #SAFabroad #NomuraResearchInstitute #JapanBusiness #InternationalStudyCourse #StudentExperience #GreenTransformation #GlobalBusiness

On their fourth day of meetings in Japan, our International Study Course students had the exciting opportunity to meet with Paul McInerney, a General Partner at Incubate Fund. Incubate Fund is a venture capital firm known for challenging the status quo. As one of the largest venture capital firms in Japan specializing in seed-stage investing, Incubate Fund boasts one of the longest track records in the Japanese market. This success is a testament to the strong, trust-based relationships they have built with entrepreneurs and the broader VC community. Here are some key takeaways from the meeting: - The Japanese VC environment is notably more collaborative than other markets due to limitations on available capital. - VC firms in Japan often emphasize a venture's "track record" when making investment decisions. - Japan generally has more "generalists" than "specialists" in various fields, which aligns well with their investment strategy. Thank you, Paul McInerney and Incubate Fund, for providing our students with valuable insights into the venture capital landscape in Japan! #UWaterloo #SAFabroad #IncubateFund #VentureCapital #JapanBusiness #InternationalStudy #InvestmentStrategies #GlobalBusiness

Wrapping up their third day of meetings in Japan, the International Study Course student team had an insightful session with Rakuten, where they learned about the company's overall strategy and the inner workings of the communications platform team. Founded in 1997, Rakuten Group, Inc. is Japan's largest e-commerce company and the third largest globally. The company offers a wide range of services including e-commerce, banking, hotel bookings, and more recently, mobile communications. Rakuten currently operates across Asia, the Americas, and Western Europe. A big thank you to Ronald N., Rahul Aruna Pugalendhi, and Saki Kozai for giving our students the opportunity to learn more about Rakuten's ongoing projects and missions. Here are three of the students' key takeaways: - Embrace discomfort; if you're not uncomfortable, you're not learning. - Rakuten's strong ecosystem allows them to have numerous cross-functional features that help drive the company's growth. - The company prioritizes a global market presence, exemplified by changing its official business language to English in 2011, which helps attract and retain top international talent. This meeting was an excellent experience for the students, who also enjoyed connecting with a Waterloo alum. We are grateful to the Rakuten team for sharing their time and expertise with our students! #UWaterloo #SAFabroad #WaterlooAlumni #Rakuten #Ecommerce #GlobalBusiness #InternationalStudyCourse #StudentExperience #GlobalTalent #JapanBusiness

While in Japan this week, the International Study Course student team had a fantastic time meeting with Final Aim, Inc. During the visit, our students learned about the company, as well as how the Japanese business environment differs from those in other countries. Final Aim is a startup focused on revolutionizing the design and manufacturing sector by leveraging blockchain and smart contract technology to make contract management seamless. The company's mission is to tackle the industry's numerous challenges including inherent risks, high costs, and labour-intensive processes. Their impressive client list includes well-known companies such as SONY, Autodesk, and Panasonic. Here are three key takeaways from their session: - Their product, Final Design, utilizes web3 technologies to assist design and manufacturing companies with IP protection and contract management. - There are significant differences between startups in Japan and the US, particularly in areas like accounting practices, exit strategies, and seed valuation.  - The Japanese government offers both direct and indirect support to startups, including funding, free rental spaces, tax incentives, and more. Thank you to Masafumi Asakura, Kanade Koketsu, and the entire Final Aim team for giving our students the opportunity to learn more about your company and for sharing your insights about the startup landscape in Japan! #UWaterloo #SAFabroad #FinalAim #JapanBusiness #InternationalStudyCourse #StudentLearning #StartupCulture #GlobalBusiness #TechnologyInnovation

On their third day of meetings in Japan, the International Study Course student team enjoyed a zen visit with MUJI HOTEL GINZA, where they learned about the creative processes and philosophy behind the success of the amazing hotel. Thank you to Rinako Matsuura for providing our students with a tour of this one of a kind hotel. Here are a few key takeaways from their session: - MUJI places a large emphasis on "feeling the moment"  - They challenge themselves to make a "real" feeling hotel and aim to provide a brand new experience every visit - MUJI's focus is on creating a unique brand that differentiates them from their competitors The students are so grateful to have had this unique experience. Thank you MUJI! 良品計画(MUJI) | #UWaterloo #SAFabroad #MUJIHOTEL #Ginza #InternationalStudyCourse #StudentExperience #BrandPhilosophy #InnovationInHospitality #Japan

During their trip to Korea, our International Study Course class visited McKinsey & Company, a global management consulting firm renowned for its influence and prestige in the industry, to learn from business executives about the company. Founded in 1926, McKinsey & Company has expanded its expertise across various sectors, including healthcare, technology, energy, consumer goods, and aerospace & defense. The firm is highly regarded for its rigorous analytical approach and data-driven decision-making, earning recognition for shaping strategies for industry leaders and governments worldwide. During their meeting with Seungheon Song Ph.D, Richard Lee, Brian Lee, and Max (Hyung Kyoo) Chin, our students gained valuable insights into the firm’s operations in South Korea. Here are three of their key takeaways: - Korea has an increasing need for skilled labour that is beginning to drive increasing immigration and diversity within the previously homogenous society. - High inheritance taxes in Korea positions private equity as an attractive strategy for family owned businesses contemplating different succession options. - McKinsey employees interact with colleagues around the world, providing opportunities for learning more about international business practices. Thank you to the McKinsey team for providing our students with valuable learning opportunities and a deeper understanding of the consulting landscape in South Korea! #UWaterloo #SAFabroad #ManagementConsulting #GlobalManagementConsulting #SouthKorea #Business #Education #InternationalBusiness #Travel

To close out their second day in Japan, our International Study Course class had the pleasure of meeting UTEC - The University of Tokyo Edge Capital Partners. The meeting provided our students with detailed insights into the Japanese venture landscape and the industry's growth in recent years. Thank you to Kiran Mysore and Maiko Iinuma for your hospitality and time answering questions from the group! Three key takeaways the team had from the visit include: - Government support: The Japanese government, along with various universities, actively supports entrepreneurs and venture capital firms through numerous initiatives, fostering growth within the local startup ecosystem. - Post-investment support by UTEC: UTEC provides ongoing support to its portfolio companies beyond financing, assisting with human resources, business operations, research collaborations, and future fundraising efforts. - Japan's underrated appeal: A recurring theme during the meeting was that Japan is an underrated destination globally—recognized for its safety, cleanliness, efficiency, and as a beautiful country in which to live and build a career. We truly appreciate the opportunity for our class to gain such insights from industry experts. Thank you, UTEC for an amazing experience! #UWaterloo #SAFabroad #InternationalStudy #BusinessInsights #GlobalOpportunities #StudyAbroad #StudentExperience #LearningJourney #UTEC #Japan

As part of the international study course, our Japan team spent yesterday morning learning about Toshiba, a global leader in electronic manufacturing. Our students had the unique opportunity to gain first-hand insight into the challenges a company encounters as it evolves. They were privileged to hear from Katsuhiko Onai about the remarkable journey of Toshiba’s growth and transformation into the renowned brand it is today. A few key takeaways from their visit: - The evolution of Japanese business culture: The mindset of new workers in Japan is shifting away from the Shushin-Koyo (meaning "lifelong employee") approach, with workers now changing careers more frequently than before. - Crisis management: During times of crisis, it is crucial to remain calm, think through the development process, and seek feedback from those affected before making any decisions. - Digital marketing: A company's logo must accurately reflect the mission and values that the brand seeks to communicate. This meeting was a unique experience for our class and we are thankful to Katsuhiko Onai and Toshiba for sharing their time and expertise with our students! #UWaterloo #SAFabroad #InternationalStudy #GlobalLearning #Toshiba #StudentExperience #LeadershipInsights #Japan

On their visit to Japan this week, the International Study Course student team had an incredible experience learning about the inspiring journey of OOYOO Ltd.'s growth and innovation as well as how they are contributing to a sustainable future. A huge thank you to Easan Sivaniah and Austin Richards for their product demonstration and presentation! Here are a few key takeaways from the session: - Ooyoo has developed cutting-edge technology to separate gases, specifically CO2, across energy, non-energy, and direct air capture sectors, all within a compact, easy-to-use portable device. - Navigating the path to sustainability presents unique challenges within the Japanese entrepreneurial landscape, requiring resilience and adaptability. - No matter where you are in your career, it's essential to continue taking risks and exploring what you are truly passionate about. The students are so grateful to have had this opportunity to engage with leaders at the forefront of sustainable innovation. Thank you, Ooyoo! #UWaterloo #SAFabroad #InternationalStudy #Sustainability #Innovation #Technology #Entrepreneurship #SustainableFuture #Japan