Last year, the Japanese government announced incentives for corporate employees to move out of the Tokyo region. From April 2023, families ready to relocate to greener pastures will receive JPY1 million (£6,380) per child- an increase of JPY 700,000 compared to such initiatives announced earlier. A family that relocates could receive up to a total of JPY5 million, including different benefits. The amount will cover the relocation costs. With this new incentive scheme, the government aims to ease overcrowding in the Tokyo region while bolstering more rural and remote areas of the country with an injection of youth and entrepreneurialism.

Remember, Japan is not performing well with its startup ecosystem when compared with the global standards.

However, the new initiatives add another challenge to the plate of Chief Operating Officers in the country. While adjusting operations to the work-from-home model itself produces significant challenges, the constant need to keep the customer experience intact amidst a dynamically transforming technology landscape and increasing cyber threats exposes COOs to further challenges. The rapid growth of the internet, cloud, and IT industry was a positive outcome of the pandemic, but cyber attackers exploited this opportunity, and the results were disastrous.

The IDC predicts that global security spending will grow from $219 billion this year to almost $300 billion in 2026. It is obvious that, no matter how big or small your business is, you always face the threat of cyberattacks. COOs need proactive cybersecurity experts to create a more secure environment and ensure intact operations by hiring cybersecurity experts. This issue of CEO Insights is dedicated to some of the best COOs in Japan. Do let us know your thoughts.