Why Japan

Background

There are numerous reasons for wishing to do business with or in Japan: According to data from the Japan External Trade Organization (JETRO), Japan has enormous potential to become a regional centre for R&D in Asia, and enjoys an unparalleled reputation for excellence in R&D among Western and Asian businesses. Second, Japan plays an important role as a “bridge nation” between the East and the West, connecting Asian enterprises and markets with the West.

21-01-14 | 10:30 h - 11:30 h Brussels time

Webinar 02: Why Japan?

Why Japan? Opportunities for EU Companies

Japan is an extremely important global economic powerhouse, with a GDP valued at 500 trillion yen in 2012. Japan has 47 prefectures, with many of them producing a regional GDP comparable to the national GDP of many European countries.

Political Highlights

Japan is a constitutional monarchy with a parliamentary government. The Emperor does not have any political power and is chiefly the symbol of the state. The Japanese Parliament is called the Diet. It consists of the House of Representatives (480 seats) and the House of Councillors (242 seats). The Cabinet is headed by the Prime Minister, who appoints its members. These are usually members of the Diet, which in turn elect the Prime Minister.

Opportunities by Market Segment

There are multiple ways to divide the Japanese market, but here some of the more remarkable divisions of the population are outlined. Japan’s shrinking population means that the market is currently seeing its number of potential consumers steadily diminishing, but it is not to be forgotten that the purchasing power and behavior of consumers is also of prime importance.

Opportunities by Sector

Japan occupies a leading position in many sectors and as a result there are significant opportunities for EU companies engaged in many areas. Japan’s strong reputation for innovation and technology means that long-established sectors such as automotive, pharmaceutical, chemical and ICT still offer significant opportunities, as do developing sectors such as green technology, nanotechnology and robotics. The Japanese market also offers significant opportunities for European companies in the retail sector given the sheer size of its consumer base.

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