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05 May. 2011 | Comments (0)

The U.S. manufacturing industry is the leading donor for aid among U.S. listed companies to earthquake-ravaged Japan with an average of $807,555 per company, according to an online survey conducted by The Conference Board. Nearly two months after the earthquake and tsunamis, almost all of the largest companies surveyed ($20 billion or more in annual revenue) have established some form of relief effort in Japan. Of the smallest companies (less than $5 billion in annual revenue), about 74 percent had set up a program. By industry, about 95 percent of manufacturing companies had set up relief programs compared to about 88 percent in financial services and about 80 percent in other non-financial services. As of May 5, the total amount of global business assistance to Japan for this crisis is more than $298.3 million, according to the Business Civic Leadership Center of the U.S. Chamber of Commerce (BCLC). “The recent crisis in Japan has resulted in an outpouring of support from citizens and corporations around the world,” said Matteo Tonello, research director of corporate leadership at The Conference Board. “Numerous relief programs have been established to provide conduits for distributing the money, goods and services that the people of Japan will need to survive and recover from these natural disasters. This survey was conducted to assess the forms and extent to which the corporate community in the United States is contributing to this effort.” Key findings of the online survey taken from April 11-20 with 83 U.S.-listed companies participating can be accessed by clicking here. Some of those key findings include:
  • By company size, the aggregate value of per-company contributions to Japan relief programs varies from $136,719 for smaller companies to $2.13 million for those with annual revenue of $20 billion or more.
  • Most of the reported corporate contributions were in cash, with about 90 percent of manufacturing companies choosing that method.
  • Manufacturing companies reported the strongest relationship with Japan because of existing business operations there (about 70 percent), their dependence on Japanese imports (about 30 percent) or the fact Japan is a key customer base (about 42 percent).
  • Across industries, most companies acted swiftly in making contributions while about 26 percent of non-financial services companies intended to wait for higher awareness of actual needs before deciding on the allocation.
By the way, according to the BCLC web site, some of the top corporate donors have been Hitachi Group ($9.4 million), Honda ($3.75 million), General Electric ($5 million), Bank of America ($1.22 million), and Aflac ($1.2 million). You can see the full list by clicking on the BCLC Corporate Aid Tracker web page.
  • About the Author:Gary Larkin

    Gary Larkin

    Gary Larkin is a research associate in the corporate leadership department at The Conference Board in New York. His research focuses on corporate governance, including succession planning, board compo…

    Full Bio | More from Gary Larkin


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