Q : Is there a correct way of exchanging business cards?
A : There certainly is. But first of all, just make sure that you come to Japan with a business card. Without one, you're not going to be taken too seriously. If it's prepared in Japanese, all the better (Kites can help you here, too). But yes, there is a correct way of exchanging business cards. For example, business cards should be passed and received with both hands. And you should nod your head as if bowing when accepting and receiving cards, as a sign of respect. When you receive a card at a meeting, put it on the table in front of you for the duration of the meeting -- putting the card immediately into your pocket, or fiddling with it, would be considered rude, and would distract your Japanese counterpart.
Also, remember that writing on business cards amounts to defacing them. If something must be written, leave it to the bearer of the card. Oh, and don't ever throw away your accumulated business cards, your card collection is the start of your business and personal network in Japan.

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