Management Accounting Day

What Is Management Accounting Day?

Every September 13th is "Management Accounting Day" (管理会計の日, Kanri Kaikei no Hi) in Japan. On September 13, 1916, "Rongo to Soroban" (論語と算盤, "The Analects of Confucius and the Abacus") — a book of business philosophy by industrialist Shibusawa Eiichi (渋沢栄一, 1840–1931), compiled from his oral teachings — was published. The title's juxtaposition of Confucian ethical teaching ("The Analects") with commercial calculation ("the Abacus") captured Shibusawa's central insight: that ethical conduct and commercial success are not opposites but mutually reinforcing, and that business should be guided by moral principles alongside profit calculation.

Shibusawa Eiichi: Japan's Business Saint

Shibusawa Eiichi is one of the most significant figures in Japanese economic history — an industrialist, banker, and philanthropist who is credited with founding or supporting approximately 500 companies and 600 social institutions during his extraordinary career. A former Tokugawa official who studied Western business practices in France, Shibusawa returned to Japan and applied both Western economic techniques and Confucian ethical principles to building Japan's modern capitalist economy. His emphasis on moral business leadership — profitable business serving social good rather than personal enrichment — established an ethical tradition in Japanese business culture.

The New 10,000-Yen Note

Shibusawa Eiichi's face appears on Japan's new ¥10,000 banknote introduced in July 2024 — replacing Fukuzawa Yukichi, who had been on the note since 1984. The selection of Shibusawa for Japan's highest denomination banknote reflects recognition of his foundational role in building Japan's modern economy and his continuing relevance as a model of ethical business leadership.

Fun Facts

• "Analects and Abacus" legacy: Shibusawa's "Rongo to Soroban" (論語と算盤) remains in print in Japan and is regularly cited in business education as a foundational text of Japanese business ethics — its message that moral conduct and commercial success reinforce rather than contradict each other resonates with contemporary corporate social responsibility concepts.
• Shibusawa's breadth: Beyond founding companies, Shibusawa established Japan's first bank (First National Bank, 1873), created hospitals, orphanages, and educational institutions, and participated in over 600 social welfare organizations — embodying his conviction that business profits should be returned to society through philanthropy and civic investment.