Event Report: A Message for the Future from MUFG, ZHD, and Keio University "Special Dialogue: Living in an Age of Challenge and Transformation—To Create an Exciting Society" (Held on February 20, 2023)

June 1, 2023

As part of its unique curriculum, KGRI offers endowed courses funded by corporations for all students of Keio University. On February 20, 2023, a special dialogue event was held featuring the heads of both companies and the President of Keio University. This event was a special collaboration between the Mitsubishi UFJ Financial Group (MUFG) endowed course, "Re-creating 'Trust' for a Sustainable Society," and the Z Holdings Corporation (ZHD) endowed course, "Platform Economy and Sustainable Society."

In the coming era, where new values are being questioned against the backdrop of technological development, what is needed to take on challenges with excitement rather than anxiety and to forge the future? The three leaders of leading companies in business and academia discussed their respective "visions" and "practices," sending a message of encouragement to the students. The venue was "CIC Tokyo," one of Tokyo's leading innovation hubs located in Toranomon Hills. A total of 71 people participated (including 58 university students and one student from an affiliated school), and the event also featured a panel talk by young employees from both companies and a Q&A session with the students.

To cultivate human resources who will lead the society of the future while contributing to the resolution of global issues by bringing together knowledge from across disciplines, KGRI is promoting initiatives that embody the spirit of `jitsugaku (science)` advocated by Fukuzawa Yukichi, going beyond the traditional framework of a university. One of these is the endowed courses offered to all students, funded by corporate donations.

As a spin-off project of the Mitsubishi UFJ Financial Group (hereafter MUFG) endowed course "Re-creating 'Trust' for a Sustainable Society" and the Z Holdings Corporation (hereafter ZHD) endowed course "Platform Economy and Sustainable Society," a special dialogue was held among the heads of MUFG and ZHD, and the President of Keio University.

The background to this is the current state of the times, where values are undergoing significant changes due to the accelerating evolution of technology.

The future now lies beyond the extension of conventional wisdom. What we need is an attitude of creating the future with our own hands. Precisely because this is an age of challenge and transformation, we want you to be motivated by excitement, not anxiety, and to forge the path ahead.

With this sentiment for the students who will carry the future, the three leaders of Japan's industrial and academic worlds shared their respective visions.

<Special Dialogue>

Hiroki Kamezawa Director, President & Group CEO, Mitsubishi UFJ Financial Group, Inc.

Kentaro Kawabe President and Representative Director, Co-CEO, Z Holdings Corporation

Kohei Ito President, Keio University

Moderator: Tatsuhiko Yamamoto Professor, Law School; Deputy Director, KGRI

MC: Haruna Kawashima Project Associate Professor, KGRI

Mitsubishi UFJ Financial Group (hereafter MUFG), a financial holding company that includes one of Japan's leading megabanks, MUFG Bank, and Z Holdings Corporation (hereafter ZHD), which owns companies such as Yahoo, LINE, and ASKUL. Both companies share a focus on the importance of a continuous challenging spirit, based on the premise of a changing era.

For example, in the case of banks, they have been promoting bold organizational reforms that overturn the social image of a rigid industry. Executives, veteran employees, and young staff share their perspectives and discuss better organizational structures. By creating a platform for free proposals for anyone who "wants to do something new," regardless of age or title, a mood that encourages challenges has been fostered.

Furthermore, internet companies, which have grown in tandem with the evolution of technology, have constantly faced the question of "what to use technology for." In contrast to traditional media such as newspapers, radio, and television, which required a certain level of organizational strength and funding, the internet has brought about the "democratization of media" by enabling everyone to freely express and share information. Within this major trend, the question is how to liberate and empower individuals from the inconveniences and constraints remaining in the world.

As if in response to these trends in the industrial world, universities are also being called upon to adopt a new attitude of challenge.

This means that everyone, regardless of their position as a student or faculty member, should have a broader and freer perspective and question conventional wisdom. And to pursue the essence of what should be accomplished for society. In other words, it is an attitude of creating a new "common sense" as a university.

Common sense refers to universal values shared by society as a whole. At the Davos Conference (World Economic Forum Annual Meeting 2023) in January this year, Greek Prime Minister Kyriakos Mitsotakis reportedly said of how he rebuilt his country from financial collapse, including bold immigration policies and a shift to renewable energy, "I just did what was common sense." Here in Japan, too, perhaps we need an attitude of facing change without fear, rather than shelving sound arguments for the sake of organizational convenience or maintaining the status quo.

Amidst this, new initiatives that transcend the boundaries between companies and universities are being promoted.

One example is the Keio University Quantum Computing Center (KQCC) , established in 2018. Various companies, including banks, automobile, machinery, and chemical manufacturers, are participating, aiming to put quantum software with its extraordinary computational power into practical use.

In the face of the numerous problems confronting humanity, we can bring together knowledge and know-how that were traditionally separated by field or industry to derive innovative solutions. For example, by predicting the risks surrounding society, including finance and distribution, in advance, we could dramatically reduce environmental and labor burdens. At the same time, this should be an extremely important challenge in realizing a world where each individual can live more freely.

Following the special dialogue, young and mid-career employees from MUFG and ZHD took the stage for a panel talk on the theme of the challenges they are currently undertaking and the outlook for the future of society.

When students enter the workforce in the future, what kind of motivation can they have to tackle challenges and find their path? Hints were shared to help them form a more concrete image, using the cases of both companies as models.

<Panel Talk>

Atsuki Morii Sustainable Business Division, MUFG Bank, Ltd.

Keizaburo Nakano Industry Research & Produce Department, MUFG Bank, Ltd.

Yurie Watanabe Sales Promotion, LOHACO Marketing, Marketing Promotion, LOHACO Business Division, ASKUL Corporation

Kazunari Nakamiya Sourcing Data Management, Procurement Strategy & Sourcing 1, Merchandising Division, ASKUL Corporation

The role of financial institutions is extremely significant in investing in businesses that tackle environmental and social problems and creating a sustainable cycle for a better future. On the other hand, how can we balance the economic profitability of a business with the costs required for measures such as sustainability and decarbonization? As there is no solution yet, the first step is to have frank discussions that transcend positions, such as with companies and governments. This accumulation of dialogue leads to new discoveries and actions.

It is also important to have an attitude of long-term support for new technologies that may not generate profits for some time. Even if small, the enthusiasm of each individual can generate empathy and exert power at the organizational level. It is only then that a sense of "we can create the future with our own hands" is born.

On the other hand, another role of companies is to actively communicate socially significant initiatives and raise public awareness. For example, by reviewing the environmental and labor burdens in the product manufacturing process and realizing a more sustainable cycle. If people do not understand the difference between these "ethical" products and services and cheaper conventional ones, the circle of empathy will not expand.

Furthermore, regarding logistics, which connects materials and products with people, as the "2024 problem in logistics" highlights, there is a demand for a transition to a more stable system with less waste and burden, while solving problems such as drivers' working conditions, labor shortages, and costs. By facing the issues in each field and repeatedly discussing and adjusting how to realize a system without inconveniences or disparities, a mindset of "we can do better" is fostered, and a sense of excitement that transcends organizations is born.

During the special dialogue and panel discussion, lively questions were received from the audience, both by raising hands and online. This section is a compilation of excerpts from the Q&A session among the three speakers on stage, the young employees, and the students.

First, a question was asked: "How can we find something that excites us, and how can we discover the elements that lead to it?"

As a hint, an anecdote was shared about first encountering the internet at Keio University's Shonan Fujisawa Campus (SFC) in 1995, during the dawn of the internet era, and feeling a sense of the future. The curiosity of "What is this?" about the word "internet" seen in newspapers led to a personal transformation through the input of real experience, which in turn led to the output of "Let's try it myself!", creating a sense of excitement.

However, whether one can be excited by the same thing differs from person to person. Also, exciting new discoveries do not necessarily come suddenly. Perhaps what is important is the attitude of looking at unfamiliar things with an interest in "What can I get excited about?" and the accumulation of such experiences.

In response to a request for "more support to enhance entrepreneurship among students," the importance of a community that actively backs up startups, not just the individual mindset of students, was discussed.

Even if you fail, the experience will surely lead to the next step. For this, a safety net that welcomes experienced entrepreneurs into other projects or supports them in trying again plays a major role. It will be necessary for universities and the industrial world to cooperate and join forces to further support systems for university-launched startups.

Regarding the future relationship between business and social issues, a question was raised: "While some companies use the term ESG management (Environment, Social, and Governance / management that emphasizes corporate social responsibility and value) for the sake of their track record, the idea of sacrificing profits for social issue countermeasures is also not sustainable. What should be done?"

The dual challenge of solving social issues and achieving business success is a major trade-off that companies face today. Especially concerning environmental issues, if any company does not act now, it may eventually lose public trust. How to establish a sustainable business mechanism for society as a whole can be said to be a major challenge for all companies, from large corporations to startups.

In addition, a survey was conducted online after the event. Here are some of the responses from a diverse range of participants, including university students, students from affiliated schools, parents, and teachers.

(Regarding the special dialogue) "It was very interesting to see the lively discussion about future industries and investments, with each speaker leveraging their background in science." (University student / Faculty of Environment and Information Studies)

"The young employees spoke so vividly about their work, and I felt that they were truly proud of their jobs. It also made me want to cherish the attitude of expressing what I want to do and what I think should be." (University student / Faculty of Law)

"President Ito's words, 'act according to common sense,' left a strong impression on me. As a university student, I sometimes get lost about what I want to do while being exposed to various things. At such times, I will try to remember these words and take action." (University student / Faculty of Law)

(Regarding expectations for KGRI) "I felt that teachers also need to learn so that we can introduce what is created through the collaboration of companies and education to junior high school students in an easy-to-understand way. Also, if companies could also base their activities in the learning environment of schools, I thought it would be possible to create a multi-generational and diverse co-creation environment for nurturing people together." (Teacher / Keio Chutobu Junior High School)

(Photo: Kota Sugawara)

Held at CIC Tokyo on February 20, 2023 (in-person + online format)

*Affiliations and titles are as of the time of the event.