I think that the sluggish improvement in productivity among Japanese firms in recent years is partly attributable to the economic situation in Japan that I just outlined. Cross-border mergers and acquisitions undertaken by Japanese firms recently can be considered as one of the initiatives addressing the challenges.
However, managing foreign firms is a new experience for many Japanese firms, and is likely to be quite difficult as there are a number of issues to be tackled, such as securing managers and adapting to different corporate 4/5  BIS central bankers' speeches  cultures. Recent protectionist moves could also become an obstacle to the free mobility of labor, goods, money, and information.