100 Japanese top execs here to explore opportunities

MANILA, Philippines - A business delegation composed of about 100 top executives of Japanese firms is in the country to explore opportunities and promote stronger bilateral ties.

“In receiving Japan Chamber of Commerce and Industry’s (JCCI) largest business delegation to the Philippines, we expect to further strengthen and expand our bilateral economic relations by increasing trade and encouraging more investments from existing and potential Japanese investors in our country,” Trade Undersecretary Ponciano Manalo, Jr. said in a statement.

The mission, which arrived yesterday and will stay in the country until Saturday, is the first outbound mission of JCCI since 1992.

The JCCI is a network of comprehensive local economic organizations with a total  of 1.26 million member businesses from large and medium corporations to small and sole proprietorships.

Aside from being the largest business organization in Japan, JCCI is also an influential organization in Japanese economic circles. 

The mission, led by Akio Mimura, chairman of the JCCI and current advisor and honorary chairman of Nippon Steel and Sumitomo Metal Corp., is composed of executives from various sectors such as construction, metal manufacturing, telecommunications, trading, banking, automotive and auto parts, travel, food, air transport, and electric power.

Among the companies part of the mission are Honda Motor Co., Ltd., Marubeni Corp., Sumitomo Mitsui Banking Corp., Japan Airlines, Co., Ltd., ANA Holdings, Inc., ITOCHU Corp., Electric Power Development Co., Ltd., Taiyo Stainless Spring Co., Ltd., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Komoto Industry Co., Ltd., Shigeru Co., Ltd., Dial Service Co., Ltd., Idea Consultants, Inc., Mitsui & Co., Ltd., Fukuda Corp., Mitsui Mining and Smelting Co., Ltd., Sanwa Denki Kogyo Co., Ltd., Mitsubishi Corp., JTB Corp.,  IHI Corp., Sumitomo Corp., and Mizuho Financial Group.

During their four-day visit, the members of the mission will meet with business leaders and officials of the Philippines-Japan Economic Cooperation Committee, Philippine Chamber of Commerce and Industry, Japan Chamber of Commerce and Industry of the Philippines, Inc., and First Philippine Industrial Park.

They will also meet with President Aquino as well as officials of the Department of Trade and Industry, Department of Finance, Bangko Sentral ng Pilipinas, and Philippine Economic Zone Authority.

Apart from the Philippines, the mission also visited Indonesia.

Japan is a major trading partner of the Philippines and among the biggest sources of investments here.

The Philippines is encouraging more firms to invest in the country to achieve sustained economic growth and create more jobs.