Students from the Corporate Law Society (ORD) of Erasmus University Rotterdam in the Netherlands visited NN Life Japan on Wednesday, 18 April. The ORD is a student-run organisation that connects students with potential employers through extracurricular activities, such as visits to the biggest law firms and banks in the Netherlands, and the annual ORD study trip. The destination for this year’s trip was Tokyo, where our Japan-based business NN Life Japan was pleased to receive them.
NN Life Japan CEO Frank Eijsink welcomed the students with an introduction to NN Group and NN’s life insurance business in Japan. He talked about the differences of doing business in this market compared with Europe, and explained how NN operates through a wide network of sales offices and independent agents located throughout Japan. He also explained some cultural differences, one of which was ‘nomunication’, the Japanese custom of creating connections and transcending cultural barriers with colleagues at after-work drinks.
The ORD students were curious to hear about legal practices typical to Japan, such as the use of stamps and seals in addition to signing contracts. Specialists from NN’s legal and compliance division answered the students’ questions on corporate law and differences in legal practices between Japan and Europe. The group were particularly interested in understanding how the legal and compliance division is structured, and the different roles and responsibilities.
Before the ORD students departed to sample the great food scene in Tokyo, they were keen to learn more about cultural diversity within NN Group and NN Life Japan, as well as the opportunities NN Group offers to work in different counties. For the students, gaining a better understanding of how NN Group operates in Japan, and getting relevant insights from a corporate law and finance perspective was a valuable experience.