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Speakers and panelists examined the growing attractiveness of Japan's retail and service industries under the theme of "Market Brainstorms: Can Japan's Changing Consumer Market Redesign the Service and Retail Sectors?"

The event's keynote speaker, Victor M. Luis, president and CEO of Baccarat, spoke about Japan's vibrant luxury goods market, which he knows from long experience, and discussed the appeal of Japan as a natural gateway to other luxury goods markets in Asia. Mr. Luis pointed out that Japan accounts for 35-40% of global luxury goods spending, roughly twice that of the US.

One of the event's presenters, Debbie Howard, president of the American Chamber of Commerce in Japan, highlighted trends in the Japanese consumer market, which she predicts will grow on the strength of three demographic segments: affluent elderly Japanese (so-called "silver aristocrats"), baby boomers entering retirement from 2007 and, lastly, their children, or "baby boomer juniors".

Panelist Patrick A. Roney, president and CEO of Dean & Deluca, pointed out that his company chose Japan for its first overseas expansion foray because he thinks Japan's consumers are very aware of quality, uniqueness and simplicity, things he considers at the center of Dean & Deluca's business. Mr. Roney added that, if Dean and Deluca could establish a quality base in Japan, which he called the trendsetter for Asia in fashion, technology and other areas, the company would have the success it needs to enter other Asian markets.

Leslie T. Chao, president of Chelsea Property Group, Inc. gave an overview of his firm's properties in Japan. Mr. Chow, a symposium panelist, pointed out that Japan's major cities are not only larger than their US counterparts but that per capita spending power in the Japanese cities is much higher.

Speakers and panelists examined topics related to the event's main theme: "IT Alliances: New Models for Adding Value to Global Operations".

In the event's opening address, US State Department deputy assistant secretary, Lawrence Greenwood, said that Japan had at last emerged from a decade-long recession and that now was the time to invest in the country. Mr. Greenwood also pointed out that planned changes to Japan's commercial code-including one that will allow firms to use their own shares in mergers and acquisitions-will give companies, in particular in high-tech industries, more options for growth.

Quentin Hardy, chief of the Silicon Valley bureau of Forbes Magazine, presided over the morning's panel discussion, in which a number of leading business figures from Japan and the US offered their viewpoints.

Scott Swanstrom of Advanced Micro Devices (AMD), said that, among the many countries in which AMD operates, Japan, with its placement at the forefront of mobile computing technology, was a key R&D base for the firm.

Another panelist, Tony Bates, a senior vice-president of Cisco Systems, spoke about Cisco's use of its Japan R&D base to develop products and technologies not only for Japan but also for global markets. Mr. Bates singled out the importance Cisco places on the comments and feedback it collects from Japan's consumers, which he considers among the world's most sophisticated and tech savvy.

Sandra Vaughan, a senior vice-president of Proofpoint, spoke about her firm's experience in Japan to date. Ms. Vaughn was impressed both by the speed with which Japanese firms approached Proofpoint for possible joint ventures and also the time it took to conclude business deals.

In his panel presentation, Dr. Hiroshi Yasuda, general manager of the alliance & strategy group of Toshiba Corporation's semiconductor arm, said that, in the sophisticated and growing semiconductor industry, partnerships are key and that firms cannot do everything on their own. Dr. Yasuda suggested that, in alliances, the important thing is that companies compliment each other, no matter the size or location of firms.

Breakout sessions following the panel discussion included Phil Keys of Nikkei Electronics, Hisami Ohshiba of JaM Japan Marketing, Dr. Hiroshi Yasuda of Toshiba Corporation, Shoichi Osawa of Sony Electronics and Brad McManus of Panasonic Digital Concepts Center.