Reform of Japan s state owned enterprises Strengthen public nature and promote privatization

Mondo International Updated on 2024-01-29

Japan, as a large capitalist country, has the smallest number of state-owned enterprises in the world, and its state-owned enterprise reform process has a unique path and experience. According to the OECD report, Japan divided state-owned assets under the provisions of the State Property Law of 1948Administrative assetswithCommon assetsTwo categories. At the end of 2010, Japan's total state-owned assets totaled 1012 trillion yen, of whichAdministrative assetsand ordinary assets separatelyand 70%.

In the 80s of the last century, Japan began to implement the "people's life" line and promotePrivatization of state-owned enterprises。With the exception of urban regeneration organizations (including housing corporations, housing buildings, and urban development corporations in Japan), which have been legally transformed into independent administrative corporations and become non-profit organizations, the rest of the state-owned enterprises have been transformed into special corporations with shares. These enterprises are no longer legally public enterprises, but are subject to the same laws of the market, i.e. company law, as private enterprises, and at the same time, as special companies, they are also subject to the duties entrusted to them by special law.

The management system of Japanese state-owned enterprises is regulated in accordance with the State-owned Property Law and the Finance Law. The Ministry of Finance is responsible for the operating budget and final accounts as the main investor representative. The business supervision is the responsibility of the relevant departments, mainly focused on:Postal, telecommunications, and transportation facilities。The ministries and agencies are responsible for the supervision of administrative assets in their jurisdictions, while the Minister of Finance is responsible for the supervision and disposal of ordinary assets, as well as the unified management of state-owned assets.

for state-owned enterprises".One enterprise, one law"Management, that is, supervision according to special enterprises. First of all, state-owned enterprises must comply with the Company Law, and listed companies are also required to comply with the relevant laws of listed companies. Secondly, they are subject to special corporate laws and are subject to special supervision. For example, NTT operates under the Three Electricity and Electricity Laws, and the regulatory authority is the Ministry of Internal Affairs and CommunicationsJR companies operate in accordance with the Act on Railway Company and Japan Cargo Railway Company and are regulated by the Bureau of Railways of the Ministry of Land, Infrastructure, Transport and Tourism.

Despite the deepening of privatization and the gradual relaxation of ** control, state-owned listed companies are still subject to supervision. For example, in 2001, after the listing of the three JR companies as a whole, the Ministry of Land, Infrastructure, Transport and Tourism still has the power to guide, advise, and order the operation of the three JR companies, although they are no longer theoretically restricted by the JR Companies Act. Local public enterprises are jointly supervised by the Ministry of Finance and local governments.

Japan has always been sureThe "public" role played by state-owned enterprises. It is believed that under the capitalist economic system dominated by private enterprises that pursue profit maximization, state-owned enterprises should play a "public" role as a supplement to private enterprises. Therefore, the reform of state-owned enterprises has always adhered to the principle of ensuring its "publicity". With the deepening of privatization, the "enterprise" performance of Japanese state-owned enterprises has gradually improved. However, the principle of "publicity" is still regarded as one of the important principles of SOE reform.

An important reason for the reform of Japan's state-owned enterprises is the poor performance of their "enterprise", which is believed to be due to the management system. Specifically, it is manifested in: the lack of autonomy of enterprises, the enterprises involved in the operation often become tools of political struggle, the budget, investment, business candidates, etc. are subject to Congress, excessive intervention, affecting rational decision-making, industry monopoly restricts competition, and the disease of large enterprises. The existence of these problems has led to an increased financial burden.

To solve these problems, Japan has taken:Privatization reform measures。The basic path of privatization is by region or businessSpin-offs, new companies are formed, and competition within the system is formed;Establishment of holding companies, establishment of technology and informationShare the platform, give full play to synergies;Completed through listingState-owned shares**Realize the circulation of capital。For example, JR was divided into six regional passenger railroad companies and one national cargo railway company, and Japan Telegraph Corporation and the National Railway Technology Research Institute were established to share technology and information platforms, and three of them were listed in 2001.

In the process of reform, Japan** has learned lessons from the past, fully considered public opinion and market conditions, and steadily promoted reform. First of all, we will conduct prior research and research. For example, the ad hoc programme conducted a two-year pre-investigation and study. Second, adhere to the principle of steady progress in the design of reform plans. For example, JR has adopted measures such as first easy and then difficult, classification reform, privatization reform of the three good enterprises in the state after the spin-off, and the use of ** income to make up for the imbalance between income and expenditure for enterprises with poor objective operating conditions and unprofitable enterprises, and the implementation of different rent adjustment according to the quality of railway operating lines, and the income level of the spin-off enterprises. In addition, adhering to the reform of "one enterprise, one law" is also one of the important experiences of Japan's state-owned enterprise reform.

In summary, Japan's state-owned enterprise reform has accumulated rich lessons and lessons. First of all, adhering to the principle of "publicity" is an important guarantee to ensure the correct direction of state-owned enterprise reformSecond, the implementation of the principle of steady progress is the key to ensuring the smooth implementation of reformClause.

Third, giving full consideration to public opinion and market conditions is the basis for improving the quality of reform programsFinally, drawing lessons from history is an important driving force for continuously promoting reform and innovation. AI assistant creation season

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