Abstract
The Japanese bubble economy in the 1980s, one boosted by capital gains income from inflated asset prices, burst in the early 1990s resulting in strong deflationary pressure. In the face of a sluggish economy, corporate investment has been sluggish. Amid such a weak economy, investment in information technology (IT) has remained relatively strong, particularly in the telecommunications sector. The growth of the IT industry came along with the changes in its structure. Adoption of open architecture, greater use of packaged software, and increased popularity of outsourcing are examples. The adoption of open architecture in IT was in part a reflection of the openness of the systems that employed the technology. The Japanese industry that relied on close relations along the supply chain tended to maintain proprietary IT architecture within groups. The increasing power of the demand side has been instrumental in opening up the once closed supply chain and the IT infrastructure.
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