End of Heisei Era and lifetime employment
“Perhaps one of the most stunning findings about lifelong learning in Japan is that the share of workers who find education and training useful for jobs is the lowest among the OECD countries. This finding is extremely telling of the distorted environment surrounding Japanese salarymen. They acknowledge the needs for training to keep abreast with technological changes, but after long hours of work, they barely have any time left for anything else. Even when they manage to receive training, many of them find it irrelevant for their job. Presumably, it is because their compensation and promotion are determined by seniority instead of merit. Seniority-based wages also serve as a natural incentive for employees to avoid risks. When tenure is valued more than merits by companies, a risk-averse mindset can be fostered among employees”