First, causal relationships between ethics and efficiency in corporations are discussed. Second, with a premise that the causal relationships cannot be proved, proposed is "New Corporate Social Responsibility" (NCSR), which is to make a society ethically sensitive. Rawlsian social contract approach is employed so as to justify this NCSR. Last, some of the possible action programs of NCSR are drawn, in terms of conditions of ethical fairness.

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The current study of business ethics has emerged from two different paradigmatic constituencies; namely, applied ethics, whose main discipline is the normative philosophical approach, and management studies, whose academic home is based on the SIM division of the academy of management. In this paper, I would like to make clear the relationship between these two approaches and to discuss some attempts of methodological integration. After summerizing the normative approach of philosophical business ethics and Archie Carroll's theories of corporate social responsibility as a standard theory from management tradition, I will examine several possible contact points between these two. Finally, I will present my own methodological synthesis.

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Social responsibilityof business corporation are formed of those of many stakeholders,especially managers,and often forgotten stockholders.In case of a limited company, managial responsibility is restricted to a sum of investment money under the commercial law.But stockholders must keep fundamental social-norm. Social responsibility comes upon their shoulders heavily,and recently it moves forward on next 3 stages,1st mainly developping of case law,2nd magnifying their right (virtually means duty) of stockholders,and on 3rd stage investers gains stocks to perform corporate social responsibility. When people with high norm consciousness increases and they becomes stockholders,business ethics is assured of making rapid progress.

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How can business enterprises be ethical under keen competition? How can we be ethical under hierarchical power pressure? These questions tell us how competition and power behavior are related to ethical problems. In the first part of this essay, I studied competition and power as deeply related affairs within an integrated framework. Moreover, I analysed them in the context of market mechanism and organization, based on conflict model (political model) rather than harmony model. In the second part of this essay, I mentioned some problems that competition and power behavior bring about. Concerning competition, typical problems are (1) excessive competition which brings natural resources loss, environment polution and falling together of competitors, (2) dirty means which is used to beat the rival. Concerning power, typical problems are (1) excesses of power use and manipulation, (2) power relation which deprives man of his freedom. To cope with these problems, we must consider how competion and power should be, because we are homo-symbolicus that think meaning of competition and power.

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According to Principles of Corporate Governance : Analysis and Recommendations published by The American Law Institute in 1994, the purpose of conpanies is defined as seeking profit and raising shareholders' gains. It continues, even in the case they can not do so, that they should follow the law and should be reasonably considerate to the society. With the progress of economic internationalization, corporations in our coutry, Japan, are required to establish their own corporate governance and to make a highly transparent corporation system. At the same time, corporation administrators need to recognize that they will be socially evaluated by whether they are enhancing business ethics for the strategic purpose of administration and in doing so making it possible to develop the corporation continously for the future. This paper descries what business ethics are and how they should be established and maintained at the corporation.

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In this paper, I recommend Japanese Companies to establish "Code of Conduct" as the core of ethics-compliance programs. From the stand point of practical steps, I suggest how to establish Code of Conduct by task force under the leadership of top management,by showing a basic model of "Code of Conduct" and the successful programs.

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Yoshisuke Aikawa was born in Yamaguchi-City in 1880 in an economically poor butupper middle class Samurai family. He was fortunate to have Kaoru Inoue as his great uncle (his grand mother's brother) who was theheadof the industrial development of Meiji Government. After graduating from University of Tokyo-Engineering department, Aikawa worked for 2 years inJapan and also for 2 years in the U.S. just as a factory workerto mastermanufacturing from the very basics. After his return from the U.S., he inaugurated ametal casting company with the support of Inoue. At the early stage of the bussiness, Aikawa faced severe financial difficulties but he was finally very successful. In 1928, Aikawa was forced to take over the management of "Kuhara Kogyo" which was a big but financially ailing mining company. Banks were coldhearted enough and he had to discover alternative way of financing at any cost. Some midnight, an idea like a thunder-bolt flashed into his mind - The company have 15,000 shareholders and if they were capitalists and were willing to become sympathizers, the company would be a "Public Holding Company". Aikawa fully utilized stocks for the firm's financing and built up "Nissan Business Group". Ten years later, Nissan Group grew in size equivalent to Mitsui or Mitsubishi. Today, the relationship between shareholders and a company in Japan has become empty & hollow and I would like to propose here Aikawa's concept of "Public Holding Company" to reconstruct this relationship.

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