A simple head bow is all that is really needed...only the subserviant give the full waist bow...in my experience with Japanese businessmen.
Also, you don’t shake and bow at the same time.
In a formal setting, the geisha would bow fully, hands in front of their hips.
Business men exchange ‘meishi’-business cards with two hand and then a short head bow.
When meeting with the President of a company, I bowed to about 45 degrees to honor him and his company for their fine service.
The President of the USA should NOT be grovel bowing like that...unless of course he’s a pu$$y.