Japanese industry outlook to 2050
Mizuho Industry Research
April 1, 2022
As we head toward 2050, we expect major changes to impact Japanese society, consumers, and industries. Challenges associated with the nation’s declining population, the shift to virtual environments, carbon neutrality, and economic security will propel this transformation.
This report summarizes the current state of key Japanese industries, highlights the impact the aforementioned changes could have on individual sectors and companies, and specifies strategies they should take to succeed in the coming era.
Chapter I describes how demographic shifts, sustainability, economic security, and technology will engender changes in society, consumers, and industrial structures as we head toward 2050.
Chapter II projects a future based on the BAU model against changing trends. Japan will fall into a labor shortage and face a chronic trade deficit, shrinking industrial base, and difficulty maintaining infrastructure and social security systems. The burden and cost of decarbonization will increase; corporate profits will slow down; and industries, companies, and individuals will curb spending given the uncertain outlook.
Chapter III presents the targets Japanese industries and companies should aim for. Specifically, they should: (1) ensure the stable supply of energy and resources and secure the decarbonization of society as a whole; (2) generate new demand by creating value that goes beyond physical products; and (3) use technology to continue improving productivity and the quality of daily life.
Chapter IV highlights the efforts required for industries and companies to achieve these goals. The chapter also demonstrates how policymakers and sector bankers can collaborate to support their work, to exit legacy fields and move into growing ones, to transcend the conventional industrial boundaries, and to drive Japan's sustainable growth.
Individual sector reports are also available as separate PDFs: