SAN FRANCISCO, Feb. 28, 2011 /CNW/ -- On February 9, 2011, Japan's Ministry of Economy, Trade and Industry (METI) announced details of its subsidy program to encourage companies to establish Asia headquarters or a R&D facility in Japan. Selected companies can have subsidized up to 1 billion yen (approx. US$12 million) of qualifying costs. Application deadline for the program is March 22, 2011, no later than 12:00 p.m. Japan time. The Japan External Trade Organization (JETRO) has been designated Secretariat of this program.
The subsidy program comes in addition to tax breaks and other incentives for foreign companies that were approved by the Cabinet near last year's end(1), showing the Japanese government's real interest in creating a more attractive environment for foreign companies.
In addition to serving as program Secretariat, JETRO also provides free support services to qualified companies establishing a physical presence in Japan in the form of a branch office, subsidiary, or manufacturing or R&D facility, among others. From FY 2003 through FY 2009--even through the recent worldwide economic slowdown--a total of 800 companies used JETRO's free services to establish a Japan presence. Some examples:
-- Averna, a test and quality solution provider for communications and
electronics device makers, established its Asia headquarters in Japan
to be closer to the R&D centers of some of its largest target
in the world. The company anticipates the office to help triple Japan
revenue over the next two to three years.
-- VeriSilicon, a semiconductor design and manufacturing outsource
company, established its Japan office in September 2005. Since then,
its Japan sales as a percentage of company totals has grown from under
five percent to over 15 percent.
-- Chicago Powdered Metal Products Company, one of the largest
powdered metal parts manufacturers in the U.S., established a
subsidiary in Nagoya--a manufacturing hub of Japan--putting the
within a two-hour radius of approximately 80% of its potential
-- Labcyte specializes in low-volume liquid handling systems at the
nanoliter scale for the life sciences. In 2006 the company established
a Japan subsidiary, which by 2009 had generated $2.5 million in sales.
For more information about the subsidy program, visit http://www.jetro.org/subsidyasiasite.
To learn more about JETRO's free services, visit http://www.jetro.org/services, or contact:
JETRO San Francisco
JETRO is a Japanese government agency that promotes business between Japan and other countries. Originally established in 1958 to promote Japanese exports abroad, JETRO's core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential.
JETRO North America offices:
New York, San Francisco, Los Angeles, Chicago, Houston, Atlanta, Toronto, Vancouver
(1) Tax breaks and incentives are pending approval by Parliament.
SOURCE Japan External Trade Organization (JETRO)
For further information: Jane Chung, JETRO San Francisco, +1-415-392-2523, firstname.lastname@example.org Web Site: http://www.jetro.org