Toys are usually among the first industries that migrate to low-cost economies. And toymakers generally need plenty of children around. So it might seem like something of a miracle that Japan—the richest big country in Asia by far, and one that has an ageing and shrinking population-has retained a vibrant toy industry. A stress on technology and design is the predictable part of the reason why. Less obviously, Japanese manufacturers have realised that they can expand the ¥700 billion ($6 billion) domestic market for toys, by marketing to adults as well as children.
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