For all the international success of Japan’s big, well-known companies, many still lag behind their global rivals in the most important markets. Why are General Motors and Volkswagen more successful in China than Honda and Toyota? Why are LG and Samsung bigger in India than Panasonic and Sony? Why is IBM larger in Japan than Fujitsu is in the United States?

These questions are more than academic. Survival for many Japanese companies may depend on their ability to greatly increase overseas revenues and profits, given demographic and economic trends that suggest slower or stagnant growth in the home market. Even Japanese companies with established global businesses face stronger competition and must rejuvenate their overseas business models.