Punctuality is the Politeness of KingsI think it was Louis XVIII of France who said that.
The value of time is the opportunity cost of time. English historian Edward Palmer Thompson even argued that neither industrial capitalism nor the creation of the modern state would have been possible without the imposition of synchronous forms of time and work discipline.
It is also believed, that Japanese Culture consider neither early or late is acceptable. The capability of fulfilling an obligation at a previously designated time is often associated with good manners and respect to others.
Interestingly, the only effective training on time discipline seems to be punishment. An uncivilised way to become civilised.