The purpose of this paper is to confirm that the success of Ajinomoto Company's globalization management after the second world war was due to the development of a unique and new business model. In order to accomplish this purpose, two main subsidiaries of Ajinomoto Company in Thailand and Brazil were examined thoroughly in terms of the developmental process, as well as several other subsidiaries located in Asia, North and South America, and in Europe.
This examination revealed that common strategy of management consisted of two steps. (1) At first, these overseas subsidiaries established the management foundation through the monosodium glutamate (MSG) enterprise, which has the internationally, highly competitiveness, but has a limit of revenue as a niche product. (2) After that, they introduced or developed the various kinds of enterprises to expand the global market. Some of these businesses are globally competitive and they were used to expand the global market. The others are locally competitive and they were applied to develop local markets.
This type of Ajinomoto Company's globalization management, which concurrently operates multidomestic (M) type businesses pararell to global (G) type businesses in the same overseas subsidiary, is confirmed as a unique one, in comparison with those of traditional and other recently proposed new globalization management models. The strategy to expand the business by adding M type enterprises to a fundamental G type MSG enterprise is just like the structure of planet. This globalization management is supposed to be classified as II(planet) type model amomg eight new globalization management models proposed by Hiramatsu.
The following factors appear to have contributed to the success of Ajinomo Compamy's globalization management using the new model. 1) In the earliest stage, Ajinomoto Company in Japan introduced and masterd American Corn Product Company's marketing development technique. 2) Ajinomoto Company was successful in diversifying from the simple MSG business structure, and top management has maintained a strong vision to expand the global market through this business diversification. 3) In order to implement this vision, well trained managers have been dispached from Japan to each overseas subsidiary. 4) The company has kept a skillful organizational system and the systematic ability to use matrix management.

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This paper analyzes the institutionalization of testing and research institutes, learned societies, and engineers' associations in prewar Japan. Although some historians examine this subject, they tend to focus on famous or large organizations and their studies are not based on comprehensive statistical data. This paper analyzes the data that public organizations published in the prewar period, although they are partly revised and supplemented because of erroneous and inadequate information, particularly regarding the establishment year of private institutes. The data analyzed are of 773 institutes and 233 societies and associations.
As these data comprise establishment year, research field and topic, address, administrator (the central government, local governments, or private organizations), and so on, this analysis possibly elucidates long-term trends of the establishment of various classifications of organization.
Consequently, this paper provides some facts about these historical trends. First, although the First World War is considered an epoch for the institutionalization of testing and research institutes, 40% of them were actually established before the War, because there was much activity in the fields of agriculture, forestry, and fisheries, and light, traditional industry before the War and these fields are frequently overlooked. Second, the greatest proportion of these institutes were in chemistry, so this discipline is the main driving force of institutionalization in Japan, similar to the U. S. A. Third, these institutes were established at an equal pace among various areas. Fourth, the high number learned societies and engineers' associations established annually occurred in a different era from that of testing and research institutes. The former is the second half of the 1920s; the latter, the WWI era. This fact demonstrates that different factors contributed to the establishment of all the above bodies.

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The purpose of this paper is to clarify the influence that shareholders meetings had on corporate governance in modern Japan.
We present the case “Osaka Boseki Kaisya” which is a typical enterprise in the cotton spinning industry. Since the cotton spinning industry -a major industry in modern Japan- was dependent on direct financing, its principal agent problem was quite serious. This paper presents how the firm functioned as an organization, wherein salaried managers in pre-war Japan were monitored through shareholders meetings.
In really, it was only during a boom period that the stockholders fully supported decision making by salaried managers. This occurred because the opportunity costs produced as a result of monitoring exceeded the profits that were presented at the shareholders meetings and were obtained from the management by acquiring information on the boom period.
On the other hand, during the periods when this was not the case, the stockholders did not prefer the investment strategy chosen by the salaried managers. As a result, the level of the capital invested by “Osaka Boseki Kaisya” was lower than that invested by other companies in the same industry that functioned during this period. This was because the stockholders took even the relative profit of competitors into consideration.
The moral hazard faced especially in major companies pertains to the actions that change the composition of the board of directors such that it is advantageous to the management. Since this occurred through the long-term route of the management, it might have been favorable to the outside directors who were major stockholders. However, many stockholders requested the management to provide information regarding the determination of such personnel affairs. Further, in the shareholders meetings, the stockholders enquired about real intention of the management, and on the basis of an agreement between the stockholders, a new composition was decided for the board of directors.

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