THE BUSINESS CHIEF INTERVIEW
“ Robert De Niro has this concept of the circle of trust, which is actually very relevant in business, particularly in Japanese business,” he explains.“ If the relationship is transparent and founded on trust, you can make decisions very quickly. If you dissemble, if you try and hide facts and truths, you’ ll be outside the circle of trust. And if you’ re outside the circle of trust, you’ re not going to get back in easily.” The deeper fear was ownership itself.“ A lot of people say that they understand the concept of editorial independence, but they don’ t really,” John says, with a sideways look at the“ very reputable famous institutions and mastheads” where the principle has lately been trampled. Nikkei put independence in writing at the start and has, in his account, been“ absolutely true to their word”.
Two options, one phone call The circle of trust took its stress test in spring 2020, when the pandemic threatened the physical distribution of newspapers and, John says, the existence of some of the companies printing them. Gannett furloughed USA Today’ s journalists a week a month, the Guardian cut 180 jobs, Reach cut 550, and an industry that had already cut to the bone discovered it had bone left. Nikkei called and asked for options. He gave them two. Hold the subscription strategy and probably run
A lot of people say that they understand the concept of editorial independence, but they don’ t really
John Ridding Honorary Chairman Financial Times
into loss, or do what most of the industry was doing and cut enough costs to protect the profit.“ I said, I think the strategy is thoroughly sound, and on the basis that this crisis doesn’ t go on forever, we’ ll come out stronger if we stick with the strategy. And there was an immediate, clear decision.” The FT scraped a tiny profit, stayed in the black and came out the far side ahead of its own pre-crisis plan. Naotoshi Okada, Nikkei’ s Chairman and Group CEO, returned the compliment when the exit was announced in March 2025, calling John“ an exceptional CEO in an industry that has faced constant turbulence”.
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