Two of Japan's most successful businessmen took home the top honors at CNBC's Asia Business Leaders Awards this year.
Hiroaki Nakanishi, the chief executive of Hitachi, was named the region's Business Leader of the Year while Tadashi Yanai, founder and president of Fast Retailing, was awarded the Lifetime Achievement Award at a ceremony in Bangkok on Thursday.
The two companies are household names in the world's third-largest economy. Hitachi manufactures a range of goods from consumer electronics to chemicals while Fast Retailing is the parent company of popular clothing brand Uniqlo.
Both are also at the forefront of Japanese Prime Minister Shinzo Abe's deflation-beating economic policies, known as Abenomics.
Last year, Hitachi announced it would be moving closer to a merit-pay system by basing salaries of managers on job performance instead of seniority, omnipresent in Japan's employment system.
Not only does the move directly addresses Abe's call for companies to increase wages above the government's 2 percent inflation goal, economists lauded the decision as a long-awaited structural change that could revitalize Japan's traditional labor market.
Fast Retailing meanwhile, is soon expected to debut a new system that allows Uniqlo employees to take three days off a week, according to local media reports. The new initiative allows for workers to spend more time on child-rearing and nursing care, which is especially attractive for working mothers, as Abe aims to promote more women in the workplace.