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Business Sweden in Japan

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Japan, the world’s third largest economy and Sweden’s second largest export market in Asia, continues to be of interest for Swedish industry, not at least as a step towards a broader strategy in the wider region.

At the moment the Japanese government is implementing ambitious reforms across several areas, from developing energy and agriculture to addressing the problem with an ageing population and gender equality. After many years of economic stagnation, Japanese companies demonstrate a positive outlook to the domestic market. Japan has a vast manufacturing industry and big investments have been taking place to further enhance the sectors international competiveness. Besides, the Japanese government is prioritizing energy efficiency and environmental technology since the natural disaster in 2011.

Today 1500 Swedish companies are trading with Japan, which of 150 are established in the Japanese market. In 2018 Swedish businesses exported SEK 22 billion, making Japan the second largest export market for Sweden in Asia, after China. Business Sweden has been active in Japan since 1972. Throughout the years we have established a far-reaching network of contacts with specialised market knowledge, which facilitates expansion of Swedish companies and attracts Japanese investments in Sweden.

In a recent study by Business Sweden on Swedish companies view on the Japanese business climate, a predominant positive view was revealed. The majority of Swedish companies had seen a positive development both in results and market shares in Japan during 2018. Companies also stated that they are looking to increase presence and investments in the market place.

Because the increasing international competition for Japanese companies many turn to Sweden to learn more about new innovations, business models and international success. Japanese industry is also generally open for joint-ventures and other forms of cooperation with foreign companies. Entering in to collaboration with Japanese actors may also be beneficial for business in other Asian markets.

Japan provide vast potential in most sectors if you as a company offer a market leading product of service. Due to an ageing population healthcare has become increasingly important, in this aspect Sweden is seen as a success story and Swedish solutions has a good reputation. The Japanese ICT market is large and is considered critical in the future Japanese economy. There exist great opportunities for Swedish companies with innovative solutions. With a population of 127 million, Japan is a powerful purchasing market and demand for new products is running high. Lately Scandinavian design and fashion has seen renewed interest. Thus, Japan is especially interesting for companies active in healthcare, information and telecoms, consumer products as well as vehicles and manufacturing.

Contact us and we can tell you more about Japan and how Business Sweden can support you with counselling, market analysis, contacts or anything else that can help you reach success in the Japanese market. 

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Carsten Grönblad

Trade Commissioner Japan Tokyo Trade Commissioner Japan, Tokyo

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