Gov't won't bail out struggling electronics companies: Maehara

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  • 2

    titaniumdioxide

    It's about time! Kill all the zombie companies!

  • 2

    cracaphat

    And they shouldn't.

  • -1

    Robert Dykes

    Wall mart has a black Friday sale soon. Korean tv Samsung 43 inch for 400 dollars!! IfI Sony or Panasonic or sharp could even come remotely close to that price then they might not being so bad. I grew up loving Japanese electronics. But really. When was the last time you saw a Japanese 43 inch tv for 35,000 yen. Never. Try more like double that, at BEST. I don't blame the government for not sinking money into these companies.

  • -2

    some14some

    but the issue is a sensitive one in Japan, where there is a general reluctance to let failing companies go under.

    what does it mean? Govt will help (directly or indirectly).

  • -1

    Synbios

    "Gov't won't bail out struggling electronics companies: Maehara"

    Many governments in Europe and also the US said the same about banks, big companies like General Motors, etc. But wait till the CEO of each company comes out and says: "Either we get financial support, or XXXXX employees will get laid off".

    Then we will see if the government keeps saying the same.

  • 1

    waltery

    The inherent Japanese culture of " Job For Life" has created a cultutre of apathy amongst 90% of company employees. By not training and applying for vacant possitions istead of automatic service based promotion is crippling productivity and responsibility. Time to change the basic structure to breed competition from within to expand companies outward. It's a tough world now it's time to kick the chicks out of the nest to fly or fall like kids in the pool - sink or swim. Japan needs to learn from hungry ASIAN 3rd world nations by working hard not just attending the office. It's not natural resource rich it's talent rich. After WW2 there were less older people to hold back talent and so the young and ambitious had room to move, let the young loose with all the risk they deserve. Or become like Greece lazy corrupt unemployed hopeless.

  • -1

    JeffLee

    U.S. President Barack Obama came under fire... over his administrations bailout of the U.S. auto industry

    But George Bush Junior initiated the bail out. Why does Obama get the blame? That's not fair.

  • 0

    marcelito

    About time...if they help Sharp, Panasonic will be next then Sony then.....it will never end. These are private companies where inept managment should be fired, deadwood cut, foreign capital brought in and capable new managment and board ( no more useless inept fossil and amakudari types ) domestic or foreign should be brought in to rebuild the company structure...but then again TIJ....so it's easier to try to just ask for taxpayer funded bailout dough. Hope Maehara or LDP after the next election hold their ground.

  • 1

    hkitagawa

    Well, the current government doesn't care about Sharp, Sony and Panasonic. They want it replaced by Samsung, Lenovo...

  • -3

    unequivocallyobservingjapan

    1 This is an direct/indirect public acknowledgment that the j-govt has been helping it companies for many decades thus harming companies in North America and Europe.

    2 For any person or persons who do not know japan very well, do not in the least take this headline and or so-called story as being serious.

    3 Anyone who is in this the know about japan inc. we know this headline means next to nothing.

  • 0

    blendover

    It's sad to see, but it's really now a game of which of the big ones folds first and which of the executives in those companies left standing get to take over the mess and keep their jobs a little longer. As for the government, well Japanese electronics firms wouldn't have taken quite such a hammering if they had got the same kind of support over the last 20 years as the government of South Korea gives to it's shining stars like Samsung and the kind of support the government of China gives to all its firms. Great time for the government to start being purist about the free market when nobody else is. It lets them off the hook.

    Maehara knows he won't have his job after the next election and won't personally have to eat humble pie on this, so he can talk as tough as he likes and it will go down a treat with his own constituents even if not with the constituents of areas where electronics company's have their offices. If Panasonic goes down, expect a new round of vicious cost cutting from Mr Hashimoto citywide.

  • -1

    herefornow

    fierce overseas competition and strategic mistakes which have left its finances in ruins

    And this is why all the government money in the world won't help turn them around. It would be just throwing good money after bad. Years of arrogance and insular thinking can't be reversed over-night.

  • 1

    kiyoshiMukai

    World moves on. Everybody has their glory days. Panasonic. Sharp and others will comeback. Now or later

  • 0

    globalwatcher

    Work smart, that's what Japan needs, not bailout.

  • 0

    Kobuta Chan

    However, Government must tackle over value Japanese currency if Government doesn't want to help embattled Electronic manufactures.

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