Visions - Winter/Spring 2017 - 7

Above and right: Mr. Iwatani gives his presentation at the First Japan-Argentina Symposium
on December 1, 2016 in Buenos Aires, Argentina.

Due to a countrywide recession that hung on until
December 2015 due to policies implemented by the
former government, companies in Argentina had
found it difficult to develop new business. However, the current government is attempting to attract
foreign companies and countries to invest locally, explaining the potential of Argentina's natural resources
and human resources; the country's skilled labor can
fuel new business opportunities. Previous business in
fruit and vegetables may undergo a resurgence; due
to the aforementioned opportunities re: labor, SC
Argentina is looking to concentrate on development
in four fields: agriculture, mining, infrastructure,
and energy, with a concentration on energy mostly
likely in the future. Expansion of the agrichemical
business, an essential component to agriculture, is
underway through Summit Agro Argentina, a fully
owned subsidiary of Sumitomo Corporation.

to deepen their understanding on the topic. In the
symposium, Mr. Iwatani, the President of Sumitomo
Corporation of Argentina, was invited to give a talk
to the attendees, "The Culture of Japanese Company
and Sogo-Shosha." Iwatani explained the values, the
virtue, and the concept that trust, integrity, sincerity,
respect for others, and the like, are the values that
Japanese companies hold in highest regard.

Sumitomo has been doing business in Argentina for
more than half a century, so Iwatani sees that as a
sign to everyone that Sumitomo is in it for the long
haul.

"Japan is one of the most densely populated countries, with more than 20 times the population density
of Argentina", as Japan's population is about 3 times
Argentina's, while its total area is less than one
seventh of the latter. Iwatani stressed that harmony
carried from these values has helped to keep their
society stable, which can translate internationally to
best practices in business.

Recent years have seen a rising interest toward Japan
and Japanese companies by the Argentine business
community. On December 1st, in Buenos Aires,
Argentina, the First Japan-Argentina Symposium
was held, sponsored by Japanese embassy in
Argentina, Club de Negocio, and faculty of
economics of University of Buenos Aires.
More than 220 people applied to attend the
symposium, but only 150 participants were selected

Buenos
Aires
ARGENTINA

Attending participants, mostly young JapaneseArgentinean entrepreneurs who might somehow
have these values as DNA, were informed of the
importance of those values to do business with
Japanese companies.
"Sumitomo Corporation also holds dear these kinds
of values. These are the basis of Sumitomo's business
and that's why Sumitomo Corporation has continued to do business for nearly 100 years."

"If you could adopt and bring these values and
virtue deeply to your company from mid-andlong-term view," Iwatani explained, "customers and
society would trust your company more and which
makes your company a long-lasting one."
Sumitomo Corporation of Americas

Table of Contents for the Digital Edition of Visions - Winter/Spring 2017