Edelman's seventh annual Trust Barometer, conducted by StrategyOne, polled 1,950 respondents across 11 countries, including three Asian markets: Japan, Korea and China. Termed as 'opinion leaders', respondents were university graduates aged between 35 and 64, with an annual household income of more that US$75,000.
The report found that 66 per cent of Japanese opinion leaders trust businesses 'to do what is right', compared to 56 per cent in China, 49 per cent in the US and 38 per cent in Europe. The score marks a 23 per cent increase over last year for Japan, despite the recent high-profile corporate meltdown of Livedoor's young entrepreneur, Takafumi Horie.
"For the last 15 years, the story of the Japanese business environment has been restructuring; I think people think that business has reformed itself and the economy is thriving," said Edelman North Asia president Robert Pickard.
Japanese trust in business is considerably higher than in its Government, which scores just 41 per cent. In China, 83 per cent of respondents trust the Government, placing it slightly ahead of the second most trusted-source, the media. In Korea, meanwhile, 23 per cent trust the Government, well behind the media, which scores 49 per cent.
While newspapers continue to be the most trusted medium, their influence is receding versus online sources. In Japan, 39 per cent of respondents turn to newspapers first, down from last year's 50 per cent. Meanwhile, the percentage which turns to the internet first rose from seven per cent last year to 15 per cent this year.
"The fact that twice as many Japanese opinion leaders now turn to the internet first for trusted news compared to last year -- with the internet having gained almost three times more credibility during the same time -- raises some interesting questions," said Keizo Kumazawa, deputy managing director of Edelman Japan.
"Will Japanese newspapers and broadcasters be able to project the power of their brands online? Does the old 'top-down' model of advertising one-way messages still make sense at a time when blogging makes possible a new model of horizontal peer-to-peer discussion among stakeholders?"
Scandals fail to dent trust score for Japan
Despite recent corporate scandals, Japanese trust in business remains significantly higher than other global markets, according to a new global study of opinion leaders.
