Many Japanese people are unaware that the majority of shareholders in Japan's major corporations are foreigners.
It is better to understand that the current Japanese corporations are actually "foreigner-owned companies by foreigners, for foreigners."
The Nikkei Stock Average is soaring beyond the bubble era.
Thanks to Japan's zero interest rates and a weak yen, foreign investors are heavily buying Japanese stocks.
If this continues, it seems that most of Japan's major corporations will be owned by foreign capital. In that case, unproductive Japanese workers are likely to be further marginalized.
After much government urging, an increase in salaries for large corporations has finally been realized. However, that may be a story for the near future.
Furthermore, dreams of salary increases for the majority of small and medium-sized enterprises in Japan, which make up the majority, seem far-fetched.
The government has implemented corporate-friendly policies such as unprecedented monetary easing and corporate tax cuts. Despite that, Japanese wages have not only failed to rise but have actually decreased.
Thanks to these corporate-friendly policies, Japan's large corporations are undoubtedly profitable. However, these corporations do not redistribute their profits to Japan or its people.
The reason is simple: for multinational corporations nowadays, Japan and the Japanese people have become increasingly irrelevant.
Many Japanese may think that employees of Japanese companies are predominantly Japanese.
However, in reality, many so-called Japanese companies have a significant number of foreign employees.
The Japanese media often depict large corporations as accumulating internal reserves without utilizing them.
However, multinational corporations actively hire foreigners and invest heavily overseas rather than in Japan.
Perhaps they understand that returning profits to an unattractive market like Japan would be like throwing them into the gutter.
It's only natural, one might say.
For Japanese corporations that conduct business worldwide, Japan has lost its allure.
With a declining population and aging society, the pool of young, talented individuals that large corporations want to hire is shrinking, while the number of financially vulnerable elderly is increasing.
There can be no allure in such a market called Japan.
Hence, it is unthinkable for large corporations to suddenly return to Japan just because of a weak yen.
Moreover, too many Japanese are unaware that the majority of shareholders, who are the owners of Japanese major corporations, are foreigners.
It is important to understand that the current Japanese major corporations are actually "foreigner-owned companies by foreigners, for foreigners."
Therefore, with the current economic policies, there are no benefits for the Japanese people.
In fact, if things continue this way, the Japanese government may become a "government by Japanese people, for foreigners."
All of this is the result of globalization.
If we remain fixated on the identity of Japan and the Japanese people, we may end up falling off the stage of capitalist society.
