Japanese companies have invested more than £110m into Greater Manchester in the last year alone – and local leaders marking Japan Week say there could be more to come.
The festival of Japanese culture and business runs until September 9 – and Thursday saw the Business Programme celebrate the country’s trade links with Manchester. Speakers included Hiroshi Suzuki, Japan's ambassador to the Ƶ who celebrating this country.
More than 25 Japanese companies have chosen Greater Manchester for their Ƶ operations. Recent investments include Japanese automotive group Astemo’s decision to invest £100m and create 200 jobs in Horwich, as reported by BusinessLive.
And in June, Japanese vinegar manufacturer Mizkan said it was investing £17m to expand its Middleton base – where it makes Sarson’s vinegar and Japanese branded products.
Meanwhile heat pump specialist Daikin, which has its Ƶ base in Stretford, signed a five-year collaboration agreement with Greater Manchester at the World Expo 2025 in Osaka, Japan, in June. The company is investing £900,000 in a training centre and has committed to promoting low-carbon heating across the city-region.
Greater Manchester civic and business leaders attended the expo as part of a trade mission to Japan that saw them meet political figures, trade officials and major Japanese corporations across Tokyo and Osaka. During the visit, investment agency MIDAS and Osaka Chamber of Commerce & Industry signed a Memorandum of Agreement to strengthen business collaboration between the two city regions.
Other Japanese businesses with significant operations in Greater Manchester include NGK, Hitachi, Shimadzu, Sharp, Dentsu, BDP, Brother and Sun Chemical. Greater Manchester exported £99m worth of goods to Japan in 2022, while service exports reached £151m in 2021.
Mayor of Greater Manchester, Andy Burnham, said: “In recent years we have focused on strengthening our ties with Japan and it’s fantastic to see this translate into significant investment by Japanese companies over the past 12 months. These investments are delivering jobs and opportunities that will benefit people across Greater Manchester.
“Japan Week promises to be a celebration of these partnerships and a showcase of Japanese culture.
“The success we've achieved over the past year shows that Greater Manchester has become the natural choice for Japanese companies looking to expand in the Ƶ. We are a city region with a global reach and now we have a plan to kickstart another decade of growth by delivering jobs, supporting innovation and attracting new industries.”
Leader of Manchester city council, Cllr Bev Craig, said: “Greater Manchester's economy continues to go from strength to strength, with these substantial Japanese investments demonstrating the confidence international businesses have in our city-region.
“The £117m invested by Japanese companies over the last 12 months is a testament to our exceptional growth story.
“Japan Week will highlight how our diverse, resilient economy provides the perfect foundation for Japanese companies to establish and expand their Ƶ operations, and I look forward to welcoming Japanese business leaders to Manchester.”
Joe Manning, managing director at MIDAS, Manchester's Inward Investment Agency, said: “These substantial investments from Japan create real opportunities for our residents and businesses. With over £117m in confirmed investment, we're seeing the tangible benefits of our international partnerships.
“The Japan Week Business programme provides the perfect platform to showcase these results and build on the momentum created through our strengthened relationships with Japanese investors and partners.”
