What is the Japan Association of Corporate Executives, a.k.a. the Keizai Doyukai?

Hello! I’m Yosuke from Money Forward.

This April, I assumed the role of one of the Vice-Chairpersons of the Japan Association of Corporate Executives, also known as the Keizai Doyukai, and I was very humbled by the appointment.?

Let me start with a question: What image comes to mind when you think of economic organizations?

Most people probably view them from a considerable distance as "serious, rigid, and unclear what they actually do." I felt the same way until just recently.

I had always thought they were irrelevant to me, but five years ago, a respected senior of mine who had been greatly supporting our company said to me, "Yosuke, why don't you join the Keizai Doyukai? I've become the person in charge of welcoming new members. I would love to see you join us." Well, given who extended the invitation, there was no option to say no, so I joined, which was the start of a fortunate relationship.

?It’s easy to confuse the Keizai Doyukai with other economic organizations like Keidanren (Japan Business Federation) or the Japan Association of New Economy. Let me clarify: Keidanren mainly comprises large corporations, while the Japan Association of New Economy focuses on digital startups. In contrast, the Keizai Doyukai is unique in that its members join as individuals, driven by personal conviction rather than corporate representation.

While Keidanren is mainly made up of large manufacturing companies that led Japan's rapid economic growth, the Doyukai has members from a wide range of business types and company sizes. Although both were established in 1946 and have walked the same number of years of history, their founding purposes and compositions are fundamentally different.

However, not just anyone can become a member of the Keizai Doyukai. There are strict standards, such as "no companies running at a loss," but when my senior approached me, the organization had just strengthened their policy to actively invite young startup executives, and I was invited as one of the "first generation of nominated members" (I joined along with Mitsuru Izumo of Euglena and Gen Isayama of WiL).

Back then (2019), Money Forward was in the midst of an organizational reform after going public, and to be honest, I thought, "I don't have the time to participate." But once I got engaged, a fascinating, previously unknown world opened up.

The Keizai Doyukai aims to consider and implement proposals for the better evolution of Japanese society from public standpoints and from business executives’ perspectives, rather than for the interests of the members’ own companies.

Sharing the same table with executives from large companies, with whom I had little connection before, and discussing for the public good is extremely stimulating and a valuable learning experience for me.

As startups, we firmly believe in our ability to shape the future and are genuinely striving to make the world a better place. But on the other hand, to truly revitalize the Japanese economy, it is essential for large companies, which already have significant influence and power, to take bigger risks and innovate.

If startup and large corporations executives can come together, share their thoughts and passions, and pitch in ideas towards the same goal, Japanese society will undoubtedly improve.

Honestly, until I joined, with only a superficial understanding I doubted, "What do economic organizations even do? Are they possibly colluding with politics?" But in reality, these people, extremely busy with their core businesses, are seriously dedicating themselves, brainstorming, and discussing—it turned out to be a remarkably earnest organization.

Recently, the Doyukai held a "Summer Seminar" themed on the Reiwa era (2020-) model of "cooperative capitalism."

The topics discussed ranged from social security reform, political reform, declining population, energy, the implementation of "cooperative management," DEI (Diversity, Equity & Inclusion), promoting investment in Japan, and generative AI, to corporate management in an era of geopolitics and others.

The discussions weren't superficial or just criticisms but were profound and to the point, aiming for real implementation, reflecting the determination and pride of the executives.

Particularly inspiring was the leadership of Chairperson Takeshi Niinami. His powerful yet warm leadership, combined with his deep insights on various themes and his strong sense of crisis for Japan, has been incredibly stimulating.

When compiling proposals to present to the political domain, it is common to make many coordination efforts with various stakeholders. Even if you thought you made progress, it can often go back to the beginning. It's not simple work that quickly translates to results at all.?

From the outside, it may seem like "nothing is being done," but inside, there's a lot of trial and error happening. Being involved in this process allows me to witness the deep, long-term thinking and strategic approach of large company executives, often leaving me in awe of their capabilities.

The way they tackle the complex equations intertwined with numerous variables to move society forward, even by a single step, truly makes them challengers. It keeps me on my toes and makes me realize that my own management concerns are insignificant in comparison.

Ten years ago, I used to get frustrated, thinking, "Why doesn't society change at all?" (while such anger can sometimes drive transformation), but now I understand that "society progresses gradually through clashes of various claims from different positions and to truly make a change requires more than just putting them into words." With this understanding, I am beginning to understand how to bring about change.

The key elements are "concrete plans, stakeholder understanding and dialogue, and the capability to execute."

It means so much for people from various positions in society to sit at the same table and engage in dialogue.

For business leaders driving economic revitalization, and politicians and administrators who create the play rules, as well as people from the media who have strong influential power to share information in a timely manner and engage in dialogue are crucial. I personally also believe that more active career exchanges, known as "revolving doors," would also be beneficial.

Although I am still in the process of learning and haven't contributed much, I have unexpectedly been appointed as one of the Vice Chairpersons (I am currently the youngest of the current board).

This personnel change also includes appointments from the service sector, such as Tadao Kikuchi, Chairman of Royal Holdings, a family restaurant operator, and Kensuke Onishi, CEO of Peace Winds Japan, from the NPO sector. This is symbolic of an update from how decisions were made centered on the manufacturing industry.

Particularly notable is the appointment of a Vice Chairperson from the social sector, which was achieved by even changing regulations. This showcases a genuine commitment to promoting diversity and inclusion within the organization.

My main area of responsibility will be "promoting startups." Being in business management myself, I aim to make proposals and take action on the new challenges and issues arising from Prime Minister Kishida's "Startup Development Five-Year Plan."

I cannot disclose details yet, but I will do my best to create as much impact on society as possible.

Regular meetings are being scheduled, and it is going to be quite intense, but I will put my full effort into it and take action as my part of "Society Forward".

Money Forward's key theme is advancing society by addressing money-related issues. The Keizai Doyukai plays the role of advancing society through collaboration with public and private stakeholders. Moving forward, these two “Society Forward” will be my focus

Given the wide range of issues I need to address, I’m increasingly aware of how much I still need to learn. I am committed to continuing my learning journey and would like to ask for guidance and support from all of you!