No longer a tightly regulated economy that exports but doesn't import, Japan has become a consumption-oriented society that offers business opportunities to companies in the U.S. and abroad who understand Japanese business practices and rules of competition.

"The New Emerging Japanese Economy: Opportunity and Strategy for World Business" by Plainview resident Panos Mourdoukoutas, a professor of economics at the C.W. Post Campus of Long Island University, explains the shift from Japan's "old economy" to a "new economy" and its implications for businesses around the world.

"Japan's transformation from a producer to a consumer society has eased the entry of foreign companies into the Japanese market," writes Mourdoukoutas, an expert on Asian economics and author of eight books and numerous articles for Barron's, Edge Singapore and other magazines.

Companies abroad can prosper in that market by adapting to Japanese business practices, developing new products for Japanese consumers and actively promoting those products, he writes. However, "Japan's new economy leaves no room for comfort and complacency, especially among the early movers that enjoyed an advantage over latecomers," the author said. "Japan's market remains a difficult market to crack.

Ken Aoshima, chief executive officer of TDK U.S.A. Corp., called "The New Emerging Japanese Economy" "a must-read book for business executives interested in accessing the Japanese market."

"The New Emerging Japanese Economy" is published by Texere, an imprint of Thomson/South-Western, and is available from major retailers. The cover price is $29.95. To purchase a copy from the publisher, visit websites.swlearning.com.