MANILA, Philippines – During President Rodrigo Duterte’s second visit to Japan, 20 Japanese companies signed letters of intent signifying their interest to invest in the Philippines.
In total, 18 letters of intent were signed on Monday, October 30, between Japanese and Philippine companies or between Japanese companies and Philippine government agencies.
If all these letters are followed through with legally-binding agreements, they would bring a total of $6 billion or P310 billion worth of investments to the Philippines.
Among the major Philippine companies who signed on to joint ventures with Japanese companies are Meralco and Metro Pacific Investments Corporation, represented by Filipino business tycoon Manuel V Pangilinan.
Below are the 18 letters of intent signed by company representatives and government officials in the presence of President Duterte:
- Marubeni Corporation (represented by president and CEO Fumiya Kokubu) and Department of Trade and Industry (Secretary Ramon Lopez)
- Itochu Corporation (President and Managing Executive Officer Yozo Kubo) and DTI
- Sumitomo Metal Mining Company, Ltd (Nobuhiro Matsumoto, Executive Officer and Senior Deputy General Manager Administration Department Non-Ferrous Metals) and DTI
- Taiheiyo Cement Corporation (president Shuji Fukuda) and DTI
- Tsuneishi Shipbuilding Company, Ltd (president Kenji Kawano) and DTI
- Japan Tobacco Incorporated (representative director president and CEO Mitsuomi Koizumi) and Department of Finance (Secretary Carlos Dominguez III)
- Tokyo Gas Company, Ltd (president and representative director Michiaki Hirose) and Department of Energy (Secretary Alfonso Cusi)
- Ministop Company, Ltd (Chairman Naoyuki Miyashita) and DTI
- Lawson Incorporated (Kutsuyuki Imada, Senior Executive Vice President, Division Director, Corporate Strategy and Planning Division) and DTI
- Ubicom Holdings, Incorporated (president and CEO Masayuki Aoki), Advanced World Solutions, Incorporated (president and CEO Akira Konishi) and Alsons/AWS Information Systems, Incorporated (Chairman Tomas Alcantara)
- Densan System Company Ltd (president and CEO Masanao Miyachi) and CIS Bayad Center, Incorporated (president and CEO Oscar Reyes)
- Hitachi Asia (General Manager Mitsuhiko Shimizu) and Bases Conversion and Development Authority (president and CEO Vince Dizon)
- Hitachi Ltd (Koji Tanaka, Representative Executive Officer, Executive Vice President and Executive Officer, Assistant to the President, CEO of Nuclear Energy Business Unit) and Meralco (Chairman Manny V. Pangilinan and president and CEO Oscar Reyes)
- List Company, Ltd (president and CEO Hisashi Kitami), Subic Bay Metropolitan Authority (Administrator and CEO Wilma Eisma). and Newcoast Southbeach Realty, Incorporated (Chairman Enrique Gonzales)
- Subic Smart Community Corporation (president and COO Rei Miyamoto) and Subic Bay Metropolitan Authority (Administrator and CEO Wilma Eisma)
- Nomura Real Estate Development Company, Ltd. (Chairman Eji Kutsukake), Isetan Mitsukoshi Holdings Ltd (President Toshihiko Sugie), and Federal Land, Incorporated (president Toshihiko Sugie and Chairman Alfred Ty)
- Yamato Kogyo (president Mikio Kobayashi) and SteelAsia Manufacturing Corporation (Chairman and CEO Benjamin Yao)
- Itochu Corporation (Hirokazu Inden, Executive Officer and COO Plant Project Marine and Aerospace Division Hiroshi Sato and General Manager of Itochu Manila Branch) and Metro Pacific Investments Corporation (Chairman Manuel Pangilinan and president and CEO Jose Ma Lim)