In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Kazuma Fukai, "Current Situation of Shale Gas Revolution and its Impact on the U.S. and Japan"

Shale gas is called a “game changer”. According to the Energy Information Administration, shale gas will be the major source of incremental U.S. natural gas supply, increasing its share of production from 23% in 2010 to 49% in 2035. President Obama expressed even as the U.S. develops next generation energy technologies, the U.S will continue to rely on oil and gas. Due to the shale gas boom, the current price of natural gas (U.S. Henry Hub) is declining, about 1/8 of the peak price in 2005. Given the importance of environmental issues and efficiency, combined with depressed natural gas prices, the demand for natural gas in the power sector will grow rapidly. In Japan, the unprecedented nuclear disaster at the Fukushima Daiichi Nuclear Power Plant affected energy policy dramatically. While the future of nuclear power in Japan is still unclear, natural gas power plants would be one of the most important energy resources to compensate for the loss of nuclear power plants as a realistic and reliable short and middle term approach. If the abundance of natural gas in the U.S. flows to Japan, it would contribute to a choice of supplier and different price formula for Japan. Fukai will present information based on the current state of shale drilling in the U.S., environmental issues, and interviews with many key experts and professors in shale gas as well as his experience at Kansai Electric Power Company.

Katsunori Hirano, "Learning from Sustainable Energy Financing Models Operating in the U.S. Market:  A Study for Japan's Clean and Safe Energy Future after Fukushima"

The Fukushima meltdown, which followed a devastating natural disaster in March 2011, presented the Japanese citizenry clear evidence that the way to meet their energy needs had not been sustainable. They have found the value of improving their resilience and security by their own initiative, intelligence, and foresight. The growth in the energy efficiency and renewable energy market is the defining feature of Japan’s energy future.

A substantial number of financing models are being implemented to help encourage investment in energy efficiency improvements and renewable energy deployments in the United States. In his research, Hirano tries to identify the best model operating in the U.S. market to provide financing opportunities for sustainable energy.  The local authorities in Japan can swiftly and flexibly apply this model for local households and businesses in their jurisdiction.

Yuji Kamimai, "A New Business Model for the Media Industry"

For a long time, it has been said that media is the mirror of the times we live in.  In his research, Kamimai tries to understand the ascent of and vast changes of media through a historical backdrop to help explain and recognize new service and technological innovation in the Silicon Valley.  Additionally, he examines some trends other than media that could help provide a deeper understanding.  From the rise of media and the latest IT business model, Kamimai learns what is important for the media to do, and explains what the next action steps are.  

Masami Miyashita, "A Study about the Ecosystem that Creates and Develops Global Start-ups"

Innovation is critical to economic growth, and entrepreneurship and startups are pivotal ingredients of innovation. After Japan’s economic bubble bursting in 1990, there was much talk about the lack of entrepreneurship in Japan as a driver of creative destruction and economic revival. The “Silicon Valley model” of entrepreneurship was heavily studied. Beginning in the late 1990s, the Japanese government rapidly developed institutional and social frameworks for startups in Japan. In the early 2000s, however, few Japanese startups were global in scale, and the presence in Silicon Valley of Japanese entrepreneurs and startup were still very limited. After the first decade of the 21st century, there are preliminary indications of a new wave of startups by Japanese entrepreneurs making inroads in Silicon Valley. Compared to other groups, such as Chinese or Indians, the number of Japanese entrepreneurs in Silicon Valley still remains miniscule. However, for the Japanese entrepreneurs to take advantage of the Silicon Valley entrepreneurial and innovation opportunities, lessons from the experiences and challenged faced by Japanese based in Silicon Valley are important.  In his research, Miyashita provides some of the key factors that are feeding this new wave of startups.

In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Kazuma Fukai, "Current Situation of Shale Gas Revolution and its Impact on the U.S. and Japan"

Shale gas is called a “game changer”. According to the Energy Information Administration, shale gas will be the major source of incremental U.S. natural gas supply, increasing its share of production from 23% in 2010 to 49% in 2035. President Obama expressed even as the U.S. develops next generation energy technologies, the U.S will continue to rely on oil and gas. Due to the shale gas boom, the current price of natural gas (U.S. Henry Hub) is declining, about 1/8 of the peak price in 2005. Given the importance of environmental issues and efficiency, combined with depressed natural gas prices, the demand for natural gas in the power sector will grow rapidly. In Japan, the unprecedented nuclear disaster at the Fukushima Daiichi Nuclear Power Plant affected energy policy dramatically. While the future of nuclear power in Japan is still unclear, natural gas power plants would be one of the most important energy resources to compensate for the loss of nuclear power plants as a realistic and reliable short and middle term approach. If the abundance of natural gas in the U.S. flows to Japan, it would contribute to a choice of supplier and different price formula for Japan. Fukai will present information based on the current state of shale drilling in the U.S., environmental issues, and interviews with many key experts and professors in shale gas as well as his experience at Kansai Electric Power Company.

Katsunori Hirano, "Learning from Sustainable Energy Financing Models Operating in the U.S. Market:  A Sutdy for Japan's Clean and Safe Energy Future after Fukushima"

The Fukushima meltdown, which followed a devastating natural disaster in March 2011, presented the Japanese citizenry clear evidence that the way to meet their energy needs had not been sustainable. They have found the value of improving their resilience and security by their own initiative, intelligence, and foresight. The growth in the energy efficiency and renewable energy market is the defining feature of Japan’s energy future.

A substantial number of financing models are being implemented to help encourage investment in energy efficiency improvements and renewable energy deployments in the United States. In his research, Hirano tries to identify the best model operating in the U.S. market to provide financing opportunities for sustainable energy.  The local authorities in Japan can swiftly and flexibly apply this model for local households and businesses in their jurisdiction.

Yuji Kamimai, "A New Business Model for the Media Industry"

For a long time, it has been said that media is the mirror of the times we live in.  In his research, Kamimai tries to understand the ascent of and vast changes of media through a historical backdrop to help explain and recognize new service and technological innovation in the Silicon Valley.  Additionally, he examines some trends other than media that could help provide a deeper understanding.  From the rise of media and the latest IT business model, Kamimai learns what is important for the media to do, and explains what the next action steps are.

Masami Miyashita, "A Study about the Ecosystem that Creates and Develops Global Start-ups"

Innovation is critical to economic growth, and entrepreneurship and startups are pivotal ingredients of innovation. After Japan’s economic bubble bursting in 1990, there was much talk about the lack of entrepreneurship in Japan as a driver of creative destruction and economic revival. The “Silicon Valley model” of entrepreneurship was heavily studied. Beginning in the late 1990s, the Japanese government rapidly developed institutional and social frameworks for startups in Japan. In the early 2000s, however, few Japanese startups were global in scale, and the presence in Silicon Valley of Japanese entrepreneurs and startup were still very limited. After the first decade of the 21st century, there are preliminary indications of a new wave of startups by Japanese entrepreneurs making inroads in Silicon Valley. Compared to other groups, such as Chinese or Indians, the number of Japanese entrepreneurs in Silicon Valley still remains miniscule. However, for the Japanese entrepreneurs to take advantage of the Silicon Valley entrepreneurial and innovation opportunities, lessons from the experiences and challenged faced by Japanese based in Silicon Valley are important.  In his research, Miyashita provides some of the key factors that are feeding this new wave of startups.

In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Minoru Aosaki, "Banking System and Sovereign Risk in Japan"

After the financial crisis of 2008, European financial markets have experienced sharp increases of sovereign risk. This adversely affected the solvency of banking institutions as they suffered losses from their sovereign holdings and deterioration in their funding conditions. Meanwhile, Japan's sovereign market remained stable, but market participants were cautious as the country’s debt-to-GDP ratio is the highest in the world, and its banking sector holds as much as 44% of domestic sovereign debt. The question is how Japanese policy makers should address the sovereign risk in the banking system. In pursuit of this question, Aosaki compares the market environment in Japan and the Euro Area, examining the reasons banks hold sovereign bonds and the channels that connect sovereign risk with the banking system.

Prashant Pandya, "Cell-based Therapies -- Current Trends and Future Prospects"

Stem cells have been the subject of considerable excitement and debate over the last decade. Stem cell therapy is emerging as a potentially revolutionary new way to treat disease and injury, with wide-ranging medical benefits. Stem cell research provides the opportunity to advance our understanding of human biology and treatment of various diseases. In Pandya’s research, he shares his experience about major challenges related to the commercial development of stem cell therapies and key technology drivers. This research is based on consultations with several prestigious regulatory agencies—including the U.S. Food and Drug Administration, European Medicines Agency, and Therapeutic Goods Administration of Australia—as well as interviews with 45 CEOs and senior scientists of large and small biotech companies and professors from leading universities across five countries. Pandya’s research reveals that there are many intriguing aspects of stem cells still remaining to be elucidated. Stem cells have the potential to treat an enormous range of diseases and conditions that plague millions of people and offer exciting promise for future therapies. But significant technical hurdles remain that will only be overcome through years of intensive research, and successful commercialization of cell-based therapies requires more than proving safety and efficacy to regulators. Ultimately the therapy must be commercially viable.

Ramnath Ramanathan, "Designing Toxicology Studies for Small Interfering Ribo Nucleic Acid"

The field of medicine has improved drastically over the period of time. Medical treatment has evolved from using plant extracts to chemical drugs to stem cell and gene therapies. Discovery of small interfering Ribo Nucleic Acid (siRNA) was one of the most important recent breakthroughs in the field of medicine. This was due to siRNA’s capability of posttranscriptional gene silencing by destruction of mRNA and thereby reducing the protein synthesis. Though the efficacy studies conducted in vitro and in animal models are promising, there have also been circumstances where there were adverse effects including mortality of animals treated with siRNA. Since RNA interference is a relatively new technique, it is very important to understand the toxicity involved before using it as a therapy. For this purpose, toxicology studies have to be designed in order to address all questions on the safety aspects of siRNA. In addition to the traditional toxicity studies, several other tests will have to be conducted. These additional studies will have to address issues specific to siRNA therapy such as immune activation, formation of tetraplex DNA, down regulation of non-target mRNA, interaction with cellular proteins, etc. Through Ramanathan’s work, he has designed a battery of toxicology studies to understand the side effects so that only relatively safe therapy is tried on humans during clinical trials. Ramanathan will present his findings.

In this lecture, Professor Okimoto explores distinctive and unique aspects of Japan’s history. In addition, he discusses the differences in perception of Japan’s history between scholars from different countries.

In this lecture, Professor Okimoto analyzes Japan's SEID model of economic development. In addition, he explores factors behind Japan's economic success as well as its current economic problems.