Listeds takes a peek into different markets. In this article, we go through Miki Aho’s insights on the Japanese market. He distills a simple message for Nordic leaders: if you want to succeed in Japan, or simply learn from it, start with rigorous planning and uncompromising quality.

Few Finnish executives have led major consumer businesses in both Tokyo and Copenhagen, but Miki Aho has. Now based in Sydney, he has spent nearly a decade with Danone, managing operations worth over €100 million in Denmark and Norway, and previously leading a 170-person sales organization in Japan. Earlier in his career, he held roles with Fazer and McKinsey & Company in Finland.

When Aho, currently a sales director for Australia and New Zealand at the French multinational, moved to Tokyo in 2019 to head Danone’s sales in Japan, it wasn’t just a new market; it was a new rhythm.

Born to a Finnish father and Japanese mother, he grew up hearing Japanese at home but never speaking it fluently. “I could handle everyday interactions, but business language in Japan was a whole different world,” he says.

More than three years later, and now in a broader Asia-Pacific leadership role, Aho distils a simple message for Nordic leaders: if you want to succeed in Japan, or simply learn from it, start with rigorous planning and uncompromising quality.

“In Japan, planning is the work”

“One thing that really struck me was the difference in tempo,” Aho says. “In Denmark or Finland, we might plan for a few weeks to a month and then improvise. In Japan, you plan for six months, and when it launches, everything runs like clockwork.”

He laughs, recalling his early days in Japan. “I was used to speed and flexibility. But in Japan, a launch scheduled three months ahead is already considered late. Nothing happens ‘roughly right’, it’s about getting every detail right.”

That patience isn’t accidental; it’s institutionalized. Japanese companies often build consensus through nemawashi—informal, behind-the-scenes alignment—and sometimes formalize decisions through a bottom-up process in which a written proposal circulates for review. It takes longer to decide, but execution is rapid and unified once consensus is reached, echoing Toyota’s management philosophy: Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly.

Aho thinks that the weakness of the Japanese system is agility. Pivoting is hard because decisions are hierarchical. “The initiative for change rarely comes from lower levels. In the Nordics, we can change direction fast. In Japan, once the train leaves, it doesn’t stop.”

The strength, on the other hand, lies in precision. “When a launch finally happens, it moves fast and flawlessly; every detail has been anticipated, every stakeholder aligned.” It’s a level of readiness that Nordic organizations could learn from. Yet, he adds, perfection has its price: too much structure can make Nordic-style spontaneity look like chaos to Japanese eyes. “The ideal is probably somewhere in between. The Japanese discipline of preparation combined with the Nordic courage to adapt on the go.”

“Quality is not a metric, it’s honour”

Aho recalls a case when a delivery delay of just one or two days prompted a formal letter of apology to customers – explaining exactly why the error happened and what corrective actions were taken to ensure it would never happen again.

In Japan, quality is not simply a KPI; it is a moral commitment. Rooted in concepts such as monozukuri (craftsmanship) and kaizen (continuous improvement), companies have long institutionalized defect prevention and pride in precision. Consumers expect near-perfection in both function and presentation, down to the straightness of a label or the alignment of a package. Miss the standard, and trust can be lost for good.

Apology, too, plays a defined role in business culture. It signals respect, responsibility, and dedication to improvement, not necessarily admission of legal fault, and serves to restore the moral balance after a failure of service.

“The contrast with Nordic pragmatism is stark,” Aho observes. “In the Nordics, we might accept small mistakes as part of the process. In Japan, consistency is credibility.”

Trust through consistency (and lunch)

“Everyone in my sales team in Japan was older and had a longer tenure than I,” Aho recalls. “Trust didn’t come from my title; it came from proving that I could make their work easier and their results stronger.”

In Japan, relationships aren’t built only in meeting rooms. Socializing after work is part of the job. “We had lunch with team members every day. It wasn’t just about eating, it was about showing commitment to the group.”

The country’s long-standing nomikai tradition, after-hours dinners or drinks to deepen bonds, has softened since the pandemic, but remains a key social glue within teams and with partners. Nordic cultures, by contrast, often value clear work-life boundaries and egalitarian informality. Both models have something to teach each other.

“Surface-level interaction is easy,” Aho reflects, “but when you invest the time, genuine connection comes more naturally than it often does in Finland or Denmark.”

Aho points out that Japan admires the Nordic reputation for purity, design, and responsibility. “The appetite to experiment is there. But we have to meet their standards, not expect them to lower theirs.”


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Business

What Nordic leaders can learn from Japan

What Nordic leaders can learn from Japan

·

5 min read

Credit: Miki Aho

Credit: Miki Aho

Listeds takes a peek into different markets. In this article, we go through Miki Aho’s insights on the Japanese market. He distills a simple message for Nordic leaders: if you want to succeed in Japan, or simply learn from it, start with rigorous planning and uncompromising quality.

Few Finnish executives have led major consumer businesses in both Tokyo and Copenhagen, but Miki Aho has. Now based in Sydney, he has spent nearly a decade with Danone, managing operations worth over €100 million in Denmark and Norway, and previously leading a 170-person sales organization in Japan. Earlier in his career, he held roles with Fazer and McKinsey & Company in Finland.

When Aho, currently a sales director for Australia and New Zealand at the French multinational, moved to Tokyo in 2019 to head Danone’s sales in Japan, it wasn’t just a new market; it was a new rhythm.

Born to a Finnish father and Japanese mother, he grew up hearing Japanese at home but never speaking it fluently. “I could handle everyday interactions, but business language in Japan was a whole different world,” he says.

More than three years later, and now in a broader Asia-Pacific leadership role, Aho distils a simple message for Nordic leaders: if you want to succeed in Japan, or simply learn from it, start with rigorous planning and uncompromising quality.

“In Japan, planning is the work”

“One thing that really struck me was the difference in tempo,” Aho says. “In Denmark or Finland, we might plan for a few weeks to a month and then improvise. In Japan, you plan for six months, and when it launches, everything runs like clockwork.”

He laughs, recalling his early days in Japan. “I was used to speed and flexibility. But in Japan, a launch scheduled three months ahead is already considered late. Nothing happens ‘roughly right’, it’s about getting every detail right.”

That patience isn’t accidental; it’s institutionalized. Japanese companies often build consensus through nemawashi—informal, behind-the-scenes alignment—and sometimes formalize decisions through a bottom-up process in which a written proposal circulates for review. It takes longer to decide, but execution is rapid and unified once consensus is reached, echoing Toyota’s management philosophy: Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly.

Aho thinks that the weakness of the Japanese system is agility. Pivoting is hard because decisions are hierarchical. “The initiative for change rarely comes from lower levels. In the Nordics, we can change direction fast. In Japan, once the train leaves, it doesn’t stop.”

The strength, on the other hand, lies in precision. “When a launch finally happens, it moves fast and flawlessly; every detail has been anticipated, every stakeholder aligned.” It’s a level of readiness that Nordic organizations could learn from. Yet, he adds, perfection has its price: too much structure can make Nordic-style spontaneity look like chaos to Japanese eyes. “The ideal is probably somewhere in between. The Japanese discipline of preparation combined with the Nordic courage to adapt on the go.”

“Quality is not a metric, it’s honour”

Aho recalls a case when a delivery delay of just one or two days prompted a formal letter of apology to customers – explaining exactly why the error happened and what corrective actions were taken to ensure it would never happen again.

In Japan, quality is not simply a KPI; it is a moral commitment. Rooted in concepts such as monozukuri (craftsmanship) and kaizen (continuous improvement), companies have long institutionalized defect prevention and pride in precision. Consumers expect near-perfection in both function and presentation, down to the straightness of a label or the alignment of a package. Miss the standard, and trust can be lost for good.

Apology, too, plays a defined role in business culture. It signals respect, responsibility, and dedication to improvement, not necessarily admission of legal fault, and serves to restore the moral balance after a failure of service.

“The contrast with Nordic pragmatism is stark,” Aho observes. “In the Nordics, we might accept small mistakes as part of the process. In Japan, consistency is credibility.”

Trust through consistency (and lunch)

“Everyone in my sales team in Japan was older and had a longer tenure than I,” Aho recalls. “Trust didn’t come from my title; it came from proving that I could make their work easier and their results stronger.”

In Japan, relationships aren’t built only in meeting rooms. Socializing after work is part of the job. “We had lunch with team members every day. It wasn’t just about eating, it was about showing commitment to the group.”

The country’s long-standing nomikai tradition, after-hours dinners or drinks to deepen bonds, has softened since the pandemic, but remains a key social glue within teams and with partners. Nordic cultures, by contrast, often value clear work-life boundaries and egalitarian informality. Both models have something to teach each other.

“Surface-level interaction is easy,” Aho reflects, “but when you invest the time, genuine connection comes more naturally than it often does in Finland or Denmark.”

Aho points out that Japan admires the Nordic reputation for purity, design, and responsibility. “The appetite to experiment is there. But we have to meet their standards, not expect them to lower theirs.”


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Five sessions, one cohort, twenty leaders in one room - Helsinki, 2026.

Topics

# Topics

Authors

Founder and ceo

Helene Auramo is a co-founder of Listeds and Nordic Listed Leaders. She has previously co-founded Slush, Indiedays, Zipipop, and Okimo Clinic, building ventures at the intersection of media, technology, and community. She holds board positions at the Finnish Business School Graduates (Suomen Ekonomit) and Finnvera, and serves as Chair of the Investment Committee at the Finnish Business School Graduates. Helene is also a columnist for Talouselämä, Finland’s leading business magazine, and Aamulehti, one of the country’s largest newspapers. Her work focuses on leadership, growth, and the structures that shape decision-making in Nordic companies. She was awarded Future Board Member of the Year in 2022 by Future Board.

Founder and ceo

Helene Auramo is a co-founder of Listeds and Nordic Listed Leaders. She has previously co-founded Slush, Indiedays, Zipipop, and Okimo Clinic, building ventures at the intersection of media, technology, and community. She holds board positions at the Finnish Business School Graduates (Suomen Ekonomit) and Finnvera, and serves as Chair of the Investment Committee at the Finnish Business School Graduates. Helene is also a columnist for Talouselämä, Finland’s leading business magazine, and Aamulehti, one of the country’s largest newspapers. Her work focuses on leadership, growth, and the structures that shape decision-making in Nordic companies. She was awarded Future Board Member of the Year in 2022 by Future Board.

Authors

Founder and ceo

Helene Auramo is a co-founder of Listeds and Nordic Listed Leaders. She has previously co-founded Slush, Indiedays, Zipipop, and Okimo Clinic, building ventures at the intersection of media, technology, and community. She holds board positions at the Finnish Business School Graduates (Suomen Ekonomit) and Finnvera, and serves as Chair of the Investment Committee at the Finnish Business School Graduates. Helene is also a columnist for Talouselämä, Finland’s leading business magazine, and Aamulehti, one of the country’s largest newspapers. Her work focuses on leadership, growth, and the structures that shape decision-making in Nordic companies. She was awarded Future Board Member of the Year in 2022 by Future Board.

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Leadership Moves

SRV names Jarkko Salmenoja and Marko Palonen to its executive team in a four-area reorganisation

Oct 5, 2026

SRV Group has reorganised into four business areas from 1 October 2026 and added two members to its Corporate Executive Team. Jarkko Salmenoja becomes SVP, Data Centres, and Marko Palonen, most recently YIT's regional director for Northern Finland, becomes SVP, Northern Finland at the start of 2027.

Data centres move from a unit to a business area of their own

Until now, Data Centres sat inside the Business Premises, Helsinki Metropolitan Area business area. It now runs as a separate business area responsible for nationwide development, customer relationships and project delivery. Salmenoja has worked at SRV since August 2025 and previously held senior management roles at NCC, WSP Finland and YIT.

The pipeline explains the promotion. In March, SRV agreed to build a data centre in Lahti for Singapore-based DayOne, a contract expected to lift the order backlog by about 35% from the level in the fourth-quarter 2025 report. In December 2025, it started the EUR 54 million implementation phase of the LUMI AI Factory data centre in Kajaani with CSC. First-quarter 2026 order intake reached EUR 395.4 million, the highest of the decade, with DayOne named as a driver.

“Alongside our already strong contracting business, we seek growth in data centre construction, whose exceptionally large and rapidly growing market we have highlighted previously,” says Saku Sipola, President and CEO of SRV, in the press release.

Three regions now carry both residential and non-residential work, with an outside hire for the north

The Southern Finland, Western and Central Finland, and Northern Finland business areas are each responsible for both non-residential and residential construction in their markets. Jouni Forsman leads Southern Finland and Tero Karislahti leads Western and Central Finland. 

Palonen is the external addition. He served for an extended period as YIT's regional director for Northern Finland and before that at Lemminkäinen. Project development, leasing and transactions for non-residential work are combined into one unit under Jorma Seppä, while the roughly 100-person Building Services unit moves to Internal Services.

“Geographically, we are strengthening our local presence across Finland and seeking growth beyond our current operating areas in Northern Finland, on the West Coast and in the Uusimaa region in both contracting and residential construction,” says Sipola.

The new structure has to deliver nearly all of SRV's 2026 profit in the second half

SRV broke even at the operative level in the first half, on revenue of EUR 340.2 million. The company guides 2026 revenue above EUR 800 million and operative operating profit of EUR 10 to 20 million, backed by an order backlog of EUR 1,023.9 million at the end of June. That leaves at least EUR 460 million of revenue and the full profit target for the second half, the period the new business areas start in.

Salmenoja takes over a business area with two named projects already in delivery, in Lahti and Kajaani, and Palonen arrives in January to build a region SRV wants to grow. The full-year results in early 2027 will be the first test of whether four business areas change SRV's profit, not just its reporting lines. 

Leadership Moves

Elecster keeps leadership inside the board as Juuso Halonen becomes CEO

Oct 2, 2026

Elecster's board has named Deputy CEO Juuso Halonen as chief executive from 1 December 2026. Arto Kinnunen, CEO since 2017 and with the group for more than 30 years, leaves the role on 30 November and stays on as management advisor. On the same day, CFO Veronika Halonen becomes deputy CEO, eleven months after taking the finance role.

The March deputy appointment was the succession plan

On 5 March, Elecster appointed Halonen deputy CEO and a member of the management team from 30 March, reporting to Kinnunen. The stated remit was global sales and marketing and the development of management systems. Seven months later, the board has confirmed what that move signalled.

Halonen is an insider in every sense. He joined the group in 2011, has been CIO since 2019 and has sat on the board since 2024. At the time of the March appointment he held 32,705 Elecster shares. The company says Kinnunen's advisory role is meant to secure continuity through the year-end financial statement process, which places the first results under the new CEO in early 2027.

“Juuso knows Elecster, its business, personnel and international operating environment very well. The Board believes that his long experience with the company and the close work with Arto in recent months create a strong foundation for transferring the CEO's responsibility and further developing Elecster's operations,” says Jukka Halonen, Chairman of the Board, in the press release.

“I am pleased that the change of CEO can be implemented in a planned and controlled manner. I have worked closely with Juuso, and I can confidently transfer the responsibility of CEO to him,” says Arto Kinnunen.

He inherits a company whose order book has halved since March

The numbers Halonen takes over are thin. First-half 2026 revenue fell around 5.2% to EUR 15.8 million, and operating profit dropped to EUR 0.1 million from EUR 0.5 million a year earlier. The order backlog stood at EUR 4.8 million at the end of June, down from EUR 8.6 million at the end of March, as the Middle East conflict delayed customer investment decisions. A fire at the Kenyan subsidiary in Nairobi added around EUR 0.4 million in one-off costs.

The longer trend points the same way. Full-year 2025 revenue fell around 3.6% to EUR 32.7 million, and operating margin narrowed to 3.0% from 4.7%. The April AGM approved no dividend. The Russian packaging business, which the company says it will keep running for now, is the risk it flags most directly in the H1 report. Elecster still guides for revenue growth and improved earnings per share in 2026.

Halonen's own priorities match the gap. He names international sales and marketing, the service business and presence in core markets as the areas to develop, while keeping profitability as a cornerstone.

“Reliability, customer focus and profitability remain the cornerstones of our operations. At the same time, we must develop international sales and marketing, service business, our products and operating methods, and strengthen our presence and customer cooperation in our key market areas,” says Juuso Halonen in the press release.

Halonen family will hold both top executive roles and four of six board seats

The appointment concentrates leadership further. The board elected at the April 2026 AGM has six members: Aija Bärlund, Jarmo Halonen, Jukka Halonen as chair, Juuso Halonen, Veronika Halonen and Timo Kangas. From December, the CEO and deputy CEO will both come from that board.

“With her analytical and dynamic approach, Veronika Halonen has taken on the responsibilities of her current position well, and with this appointment as Deputy CEO, we are clarifying the Group's overall management structure,” says Jukka Halonen.

For a company of Elecster's size, an internal successor with seven months of supervised handover is a defensible choice. It also means the board chose continuity over an external search at a point when the business needs commercial renewal. Whether that trade pays off will show first in the order book, not in the governance chart.

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