Resources to explore first
If you’re considering entering Japan, there are a few resources below to help you get started. The big tech opportunities in Japan are influenced by the economic base (automotive and manufacturing) and demographic trends (urbanization and aging society).
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IT MARKET ENTRY RESOURCES
JETRO
The Japan External Trade Organisation (JETRO) – has a wealth of information about doing business in Japan that can be a nice stop for a lay of the land.
Chambers of Commerce
Your Government plays a bigger role than you think; take a look and see how they can help you here in Japan.
Global Consulting firms
While not focused on you, these firms are a reliable source of public reports and thinking on Japan market entry.
Sector specific opportunities and stated areas of focus for Japan
Biology Technology (BioTech)
According to the US Dept of Commerce, the Japan biotech industry is second globally at around $50 billion USD. Japan has multinational pharmaceuticals (e.g. Takeda and Otsuka) and with an aging population (30% of the population will be over 65 years of age in 2025), can be expected to continue to invest heavily in this area.
Japan Bioindustry Association (JBA)
Clean Technology (CleanTech)
According to METI, the size of renewable energy (included in the larger Japan cleantech industry) is around $60 billion USD. In addition to the innovation and environmental incentives, energy security is a major concern for Japan’s future; 90% of energy consumption still comes from imported fossil fuels (IEA report).
Japan Renewable Energy Institute
New Energy and Industrial Technology Development Organization (NEDO)
Financial Technology (FinTech)
According to METI, the size of the Japan fintech industry is around $10 billion USD. In addition to supporting economic growth, serving Japan’s elderly is a big mission of fintech: retirement planning, financial inclusion, and accessibility are critical needs. Japan is still a cash-based culture and fintech innovation has a wide playing field.
Manufacturing Technology
According to the Japan Machinery Center, the size of the Japan manufacturing technology industry is around $20 billion USD. Manufacturing accounts for 20% of the Japanese GDP and related technology includes such critical areas as robotics, automation, smart factories, industrial IoT, and advanced materials.
Japan Machinery Center for Trade and Investment (JMC)
Medical Technology (MedTech)
According to JETRO, the size of the Japan medtech industry is around $30 billion USD. While the biotech characteristics also apply to medtech in Japan, medtech is worth breaking out due to its strong government support, linkages to manufacturing, and global leaders like Fujifilm, Panasonic, and Hitachi.
Medical Technology Association
Mobility | Transportation Technology
According to JETRO, the size of Japan connected cars and autonomous driving (one component of mobility technology) is around $30 billion USD. Mobility innovations assist Japanese automakers (the top 3 account for 20% of global auto sales), Japan’s dense urban populations, and the elderly with quality of life improvements.
We also note that the Japanese AdTech, AgriTech, EdTech, FoodTech, GovTech, HRTech, InsurTech, LegalTech, PropTech, RegTech, and RetailTech industries are likewise vibrant and growing. We can’t include everything and are happy to discuss your specialty.