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Three major Japanese companies have injected about P22.3 billion worth of investments into the Philippines, according to the Department of Trade and Industry
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Trade Secretary Alfredo Pascual said Japanese firms are fulfilling their investment commitments to the Philippines, which they had pledged during President Ferdinand Marcos Jr.’s official trips to Japan
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Sojitz Corp. has exceeded its investment commitment, contributing P3.6 billion from its pledged P2.6 billion
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Similarly, Murata Manufacturing Co. Ltd. has invested P7 billion from its P47-billion commitment
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Taiheiyo Cement Corp. has allocated P11.7 billion out of its P21-billion pledge
Three major Japanese companies have injected about P22.3 billion worth of investments into the Philippines, according to the Department of Trade and Industry.
Trade Secretary Alfredo Pascual said Japanese firms are fulfilling their investment commitments to the Philippines, which they had pledged during President Ferdinand Marcos Jr.’s official trips to Japan.
In a briefing with reporters, the trade chief said the companies “expressed intention to invest additional funds.”
Sojitz Corp. has exceeded its investment commitment, contributing P3.6 billion from its pledged P2.6 billion. Similarly, Murata Manufacturing Co. Ltd. has invested P7 billion from its P47 billion commitment, and Taiheiyo Cement Corp. has allocated P11.7 billion out of its P21 billion pledge, Pascual said.
MinebeaMitsui and Yokohama Rubber Company are planning to expand their semiconductor factory in Cebu and boost manufacturing capacity, respectively. Marubeni Corp. is partnering with DMCI for power projects and investing in other sectors like healthcare.
Pascual noted that while five companies have yet to finalize their total investments, Yokohama and MinebeaMitsui have committed an additional P7.4 billion.
He added that Yokohama alone is considering an additional $60 million (P3.5 billion) to expand its tire manufacturing operations in the country.
These companies are among eight Japanese firms whose officials were met by the Marcos administration’s economic team during their official trip to Tokyo last week
Other Japanese companies providing updates on their investment plans include Mitsubishi Corp., which reaffirmed its commitment to the Metro Manila Subway Project, and Sumitomo Corp., which proposed the rehabilitation of the Metro Rail Transit Line 3, along with investments in renewable energy and high-tech manufacturing.
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