Even casual observers will be familiar with the Cherry Blossom or Sakura trees of Japan. When in full bloom the sight is spectacular. This amazing visual is preceded by several weeks of behind the scenes development as the buds grow. Sadly, from the time of full bloom until the blossoms have scattered only takes a week or less. In the longer cycle of nations and business, the authors unfortunately see a similar transitory pattern for Japanese multinational corporations (MNCs). Japanese companies seemed to be in full bloom in the mid-90s but now show serious signs of losing their standing in the landscape of global players. The authors explain how and why this is happening, but perhaps more importantly, examine what can be done to improve the situation in the future.