MOU signed to boost collaborations between Singapore and Japanese SMEs

MHCBSPH3528Singapore’s SMEs can look forward to more tie-ups with their counterparts in Japan, with a new agreement inked between Mizuho Corporate Bank, the Japan Bank for International Cooperation and SPRING Singapore.

Singapore’s small and medium enterprises (SMEs) can look forward to more tie-ups with their counterparts in Japan, with a new agreement inked on Monday between Mizuho Corporate Bank, the Japan Bank for International Cooperation (JBIC) and SPRING Singapore.

The memorandum of understanding was signed by Kazuo Yuhara, managing executive officer and global head of the Industry Finance Group at JBIC; Hiroshi Suehiro, managing executive officer and head of Asia and Oceania at Mizuho Corporate Bank; and Choy Sauw Kook, assistant chief executive of SPRING Singapore.

Mizuho said that almost 200 of its new Japanese clients sought to expand into Singapore last year.

Homegrown retailer 77th Street formed a strategic alliance with Japanese joint venture firm AWCG late last year to bring leading Japanese fashion labels to Singapore.

Mizuho Corporate Bank, which facilitated the joint venture, hopes to see more of such tie-ups.

This March, it started a US$150 million ASEAN-focused private equity fund to help identify companies its Japanese clients can invest in or partner with.

Kota Igarashi, CEO of Mizuho Asia Partners, said: “There are many SMEs which have very good technology, operational know-how (and) branding. Although the Japanese economy was large enough so far (for them) to work inside Japan… things are changing, so they now have to go out of Japan, and tap into this part of the world to grow.”

The Japanese government hopes the fund will help make overseas expansion easier for its SMEs.

Mr Yuhara said: “JBIC is aiming to take advantage of the fund to support the business deployment of Japanese SMEs into ASEAN countries. Japanese SMEs often have difficulties in finding out excellent local partners.”

The fund is just one way Singapore SMEs can be identified and partnered with Japanese SMEs.

Singapore said it would also like to see its SMEs benefit through the co-development of technologies and products.

Edwin Chow, executive director of SPRING Investments, said: “There is pretty strong interest in a few areas, a few sectors. (An example is) medical technology, where Japan has a strong tradition, especially in elderly care, ageing population. Then there is of course our traditional engineering sector… and food, fashion – there is a very strong interest in Japanese culture.”

In 2011, there were 722 Japanese companies in Singapore, according to Japan’s Ministry of Economy, Trade and Industry.

To service its Japanese clients abroad, Mizuho said it is looking to increase headcount in Singapore.

“Accordingly, our Mizuho Corporate Bank Singapore itself is expanding (its) size, including the headcount. Our office is now located in Capital Tower, and now office space is one of the problems we need to solve,” said Toshiya Wakaume, the general manager for the bank’s Singapore corporate banking division.

Mr Suehiro added: “We have regarded Asia as the most strategically-important region for our customers as well as for Mizuho Financial Group. Therefore, we have set up a regional headquarters here in Singapore since April 2011, and increasingly allocated our resources to this region in order to expand our service capabilities and network throughout the region.”

 

 

Source : Channel News Asia | 28 May 2013

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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