29: Mike Alfant, CEO, Fusion Systems

Mike Alfant, Group Chairman and CEO at Fusion Systems and
Chairman and CEO at Binfinity AG delves into his experiences
leading in Japan. Mr. Alfant previously held the position of Vice
President for The American Chamber of Commerce in Japan and
currently is the President of the Tokyo American Club. In
addition to this, he is also on the Board of Newport, Pasona
Tquila and Healios KK, and has also advised at Stanford
University and lectured at Keio Business School, Kyoto University
and Temple University.


 


Mr. Alfant’s wide range of experiences clearly shows that he is
true leader in the fintech industry of Japan. Mr. Alfant
originally grew up in Brooklyn, New York and worked on Wall
Street for roughly 10 years in the technical side of investment
banking with his Computer Science background. Mr. Alfant became
fascinated with Japan after a business trip, prompting him to
move to Tokyo to start his first company, Fusion Systems.


 


Mr. Alfant explains the difference in work culture and leadership
style between the US and Japan, in which he describes the former
to be achievement oriented, and the latter to be process
oriented. He explains, “what I needed to do [in New York] was
clearly articulate a goal and essentially get out of the way.
What I found in Japan was that I really needed to flush out the
process and the process would then enforce itself based on the
characteristics of the employees and the culture here.” Mr.
Alfant additionally points out that Japan-based leaders need to
have a long-term mindset like a marathon-runner to achieve
definite results.


 


In order to increase employee engagement and motivation, Mr.
Alfant tries to avoid interjecting and let others take
initiative. He also makes many of his employees shareholders of
the company so that they feel more ownership within the company.
In order to build trust with his employees, Mr. Alfant talks
about being consistent with his behaviour, and understanding how
people pay attention to action rather than just words. He also
adds leading a healthy lifestyle with meditation, exercise, and
eating well has helped him achieve this.


 


Lastly, Mr. Alfant leaves excellent advice for those who wish to
successfully lead in Japan. 


 


He advises newcomers to “limit the scope of your vision and
goals” and focus on achieving one or two business goals.
Secondly, he advises people to have thick skin, and accept that
Japan is a unique culture that will not easily change. Thirdly,
Mr. Alfant advises people to explore the beautiful places in
Japan as “the real Japan is not Tokyo. The real Japan is
outside.”