Now that Japanese consumers have gained considerable purchasing power, multinational companies need to envision a triad market composed of Western Europe, North America, and Japan.

Three major markets — “Triad” of Japan, Europe and the United States — are emerging as the most important strategic battlefield for any company operating on a global scale. The author pinpoints four trends — increasing capital intensity, soaring R&D costs, converging worldwide consumer...

Six clear, definable revolutions are now taking place simultaneously in Japan. •