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2022 look ahead: What will decide Japan's winners and losers?

Largest companies stand at the crossroads of structural upheaval

| Japan
Keyence headquarters, an electronic sensor maker and manufacturing consultant, in Osaka, pictured on Oct. 28: Keyence would be more attractive if it did not hoard cash. (Photo by Takaki Kashiwabara)

Stephen Givens is a corporate lawyer based in Tokyo.

Japan's five largest companies by market capitalization -- Toyota, Sony, Keyence, Recruit Holdings and SoftBank Group -- offer a lens through which to mull the prospects for Japan's industrial competitiveness in 2022 and beyond.

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