3 Japanese firms eye RP

At least three Japanese firms have indicated their intention to invest in the Philippines following a trade mission in March this year by the Japan External Trade Organization (JETRO).

This was revealed by Board of Investments (BOI) managing head Vincent S. Perez Jr. who identified the three firms as Nippon Steel Corp., NTT Software Corp. and Tobe Kako.

Nippon Steel Corp., one of Japan’s biggest steel manufacturers, supplies the steel requirement of Japan’s top automobile manufacturers such as Toyota, Honda, Mitsubishi and Suzuki. Nippon Steel’s Nagoya plant supplies more than 40 percent of the auto production requirement in Japan.

Perez said Nippon Steel intends to manufacture wire borders for semi-conductors here.

NTT Software Corp., was founded in Japan in July 1985 after the Nippon Telegraph and Telephone Corp. (NTT), then the world’s largest telecommunications company, was privatized.

NTT Software started its business by designed and developing advanced and large-scale telecommunications technology by NTT Laboratories. It has also branched out to such areas in Internet technology, virtual space technology and packaged software.

There are no details on Tobe Kako which reportedly wants to manufacture medical electronic components in the country.

The decision of the three Japanese firms is a positive sign especially since most of the participants of the Jetro mission had expressed some concerns about safety issues in the country.