Japan, the world's second largest economy is demonstrating a growing interest in the field of CSR. Advanced and progressive Japanese companies have begun to look beyond shareholders. They have embarked on the CSR voyage with their characteristic thoroughness and zeal for excellence. The article examines current trends in CSR scenario based on four relevant dimensions: Reporting, socially responsible investing (SRI), stakeholder dialogs and support efforts.

The World Bank has defined Corporate Social Responsibility (CSR) as " the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large."1 CSR is gaining increasing importance worldwide. Major corporates are seeing the value of aligning CSR with their business strategies. Management gurus are of the opinion that CSR can be a source of competitive advantage (Porter & Cramer, 2002). However, some key issues remain in identifying suitable matrices of CSR in different geographical, cultural and political contexts. While activist and consumer groups in the US champion the cause of CSR, strong EU regulations form the backbone CSR standards in Europe. In this context, it is interesting to see what Japan, the Asian giant, thinks on CSR. How is CSR looked at, in a country with strong, Confucian ethics-based socio-cultural values?

Recovering from a severe recession, the world's second largest economy is demonstrating a growing interest in the field of CSR. Deep-rooted cultural values were the bedrocks of social responsibility in Japan's history. Conventional beliefs in lifelong employment2 and corporate seniority formed the basis of uniform practice. These deep values guaranteed that business partners received equal share of profits. Japan's revival after World War II saw a modification of these values. A more capitalist ideology made making profit look more attractive than making all happy. Successive recessions have also rocked Japan. The economic downturn was accompanied by stories of financial scams by Japanese banks and the unholy businesspolitics nexus that often shook the country. These gave rise to the need for more ethical and transparent business practices. The current CSR scenario in Japan can be mapped on four relevant dimensions: Reporting, socially responsible investing (SRI), stakeholder dialogs and support efforts.

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