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JOBS ARE SECURE IN JAPAN...



Some Japanese are unhappy with the stability companies offer their workers.
Government labor policies make it extremely hard for employers to fire
employees. This job security, they say, stifles worker initiative.



International job security ranked by countries where it is hardest to
sack workers



1. Portugal     23. Belgium
2. Norway       24. Switzerland
3. Japan        25. Australia
4. Korea        26. U.S.
5. Italy        27. Britain



Data: OECD Employment Outlook, 1999






...LIMITING UPWARD MOBILITY FOR SOME



Japan's seniority system rewards workers the longer they stay at one
company, leaving younger workers with less chance of promotion. That's a
big reason why more workers want to jump ship.



         WANT TO WORK      WANT TO      WANT TO START
YEAR    AT ONE COMPANY   CHANGE JOBS     OWN COMPANY     OTHER
1998         50%            25%             20%           5%
1999         46%            27%             22%           5%
2000         43%            34%             21%           2%



Data: Nikkei Research, July 2000






...AND PERSUADING MORE TO SWITCH JOBS



More than 3.2 million Japanese workers changed jobs in 2000, nearly 10%
more than in 1999, and a record 5% of the labor force.



                             % OF ALL   % OF WORKERS
PERIOD  TOTAL JOB HOPPERS    WORKERS      AGE 35-44



1996      2.72 million          4.3          3.8
1997      2.99 million          4.7          4.0
1998      3.13 million          4.9          4.3
1999      2.93 million          4.9          4.0
2000      3.21 million          5.0          4.7



Data: Japan Management & Coordination Agency






JOB-HOPPERS AREN'T DRIVEN BY MONEY...



Japanese workers are more likely to jump for personal growth. In a
survey, one worker at each of 73 Net companies was asked why they joined
a startup.



REASON                                        RESPONSE



Possibility for personal growth                 99%
Work-friendly environment                       74%
Opportunity to learn new skills                 71%
Sense of worth                                  64%
Creative content                                56%
Recognition of individual's contribution        49%
Exposure to latest technology                   34%
Future potential                                33%
Autonomy                                        29%
Compensation                                     4%



Data: Unifi Network, a Division of PriceWaterhouseCoopers






...THEY'RE DRAWN BY SATISFACTION



Japanese who move to Net upstarts work for less money at riskier
companies, but they are happier. Percentage of Japanese satisfied with



                                          ONE-JOB
TOPIC                  JOB HOPPERS     CAREER WORKERS



Type of work               49%              37%
Company stability          36%              49%
Vacations                  25%              33%
Pay                        16%              20%
Working hours              25%              18%



Data: Japan Life Insurance Culture Center






...BUT THAT MEANS LIVING ON LESS



Workers 30 to 49 years old who switch jobs take pay cuts and spend less.



                                 ONE-JOB
TOPIC                         CAREER WORKERS   JOB HOPPERS   DIFFERENCE



Average annual salary            $64,104         $53,878     16% less
Annual savings                    $8,391          $9,548     13% more
Monthly living expenses           $2,617          $2,478      6% less
(including rent, home loans)



Data: Japan Life Insurance Culture Center