After struggling through the trials and tribulations of 2011, Japan, Inc., seems focused on making significant changes in the way the country’s government and corporations are structured and operate. Critical attributes that made Japan, Inc., so successful in the past, namely keiretsu, kaizen and suriawase, are undergoing revision, if not elimination. Japanese corporations are undertaking practices that seem contrary to those once-valued characteristics. They are: outsourcing production to replace domestic production, engaging in new international arenas, collaborating with competitors, forming national champions and changing corporate culture. Some roadblocks in the process lie ahead, but these kinds of changes could bring about a “new Japan.”