Japan, corporate organizational reform and the global financial crisis: The case of Shinsei Bank

Japanese firms are renowned for being change-averse, even after financial crises. On the basis of a case study of Shinsei Bank, a highly symbolic example of radical attempted change, this paper explores the difficulties of reconciling two very different socio-economic models-Japanese and American. An interview-based study of current and former Shinsei bankers suggests that Japan's 'refusal to change' is more to do with understandable employee reactions rather than a problematic strategic 'dysfunction'. While perhaps an extreme example, the Shinsei case highlights how difficult it is to see beyond a scenario of measured and evolutionary change in Japan after the global financial crisis. © 2013 Copyright Taylor and Francis Group, LLC.