Marubeni still upbeat on Philippines

TOKYO — Japanese trading giant Marubeni remains optimistic about the Philippine market, affirming its commitment to increasing  investments in both the  short to long term.

Kazuaki Shibuya, general manager of the Environmental Infrastructure Department at Marubeni, and a director of Maynilad Water Services, told Manila-based reporters that the company would continue to make substantial contributions to the Philippine economy.

“We will continue to invest in the Philippines. We have been contributing by providing funding and introducing technology,” he said.

Having operated in the Philippines as a trading company since 1909, Marubeni  has expanded its reach across various sectors, encompassing  healthcare, fintech, information technology, logistics, telecommunications, water distribution, power, agriculture, transportation and  construction.

Asked about the significance of the Philippine market to Marubeni, Shibuya highlighted abundant opportunities in the country.

Marubeni holds a 20 percent stake in Maynilad, a company owned 53 percent by Pangilinan-led Metro Pacific Investments Corp. and 25 percent by the Consunji family’s DMCI Holdings.

“We just celebrated our 10th anniversary with Maynilad this year. We have overcome difficulties. We will continue to contribute to Maynilad’s improvement, and in a few years’ time, we hope Maynilad will be able to contribute significantly,”  Shibuya said.

“We have a contract risk system, so we evaluate countries based on the type of technology they use, political situation, and bureaucratic situation. We put a credit limit on these countries. From our point of view, the Philippines remains an attractive market,” noted another Marubeni official.

During President Marcos’ official visit to Tokyo in February, Marubeni reiterated its dedication to expanding investments in the renewable energy, water, transportation, and infrastructure sectors of the Philippines.

Marubeni owns 50 percent of Team Energy Corp., which operates the 1,218-megawatt coal-fired Sual power station in Pangasinan and the 735-megawatt coal-fired Pagbilao power station in Quezon. It holds a 20 percent stake in San Roque Power Corp., 50 percent in Ingrid Power Holdings, and 20 percent in Shin Clark Power Holdings.

The Japanese trading house is also keen on expanding its footprint in the Philippine healthcare sector. Through a joint venture with MPIC, Marubeni offers comprehensive IVF-related services and provides centralized clinical laboratory testing services to hospitals in the Philippines.

MPIC chief financial officer Chaye Cabal Revilla said that the company and Marubeni previously discussed the  need for more dialysis facilities in the Philippines due to the growing number of Filipinos suffering from chronic kidney disease, which has become  one of the leading causes of death.