Japan Inc.(redirected from Japan Inc)
Informal for the close relationship between the Japanese government and the private sector. The Japanese government guided private sector development following the Second World War, often using personal relationships between bureaucrats and executives rather than actual regulation. This term came to prominence in the 1980s and was used by Western businessmen. While some credit Japan Inc. with playing a major role in the Japanese miracle, others believe it led to corruption and contributed to the Asian financial crisis.