, while Japan is a large parts importer, the composition of its imports is shifted away from parts where vertical keiretsu are …

, while Japan is a large parts importer, the composition of its imports is shifted away from parts where vertical keiretsu are …

ways. First, although Japan's average import levels are not unusually low, non-Japanese suppliers have relatively low … market penetration for parts categories where vertical keiretsu are prominent in Japan. Second, U.S.-owned assembly abroad …