More Japanese firms to set up offices in Singapore: MTI minister

The city-state is looking to promote innovation-intensive activities.

Expect to see more Japanese firms setting up headquarters in Singapore as the city-state is looking to beef up its reputation as a sustainable location for innovation.

According to a speech by Ms Sim Ann, senior minister of state for the ministry of trade and industry, Singapore is an ideal base for Japanese companies to undertake innovation-intensive activities and develop solutions tailored for regional consumers.

“This is because Singapore is a microcosm of a highly-diversified Asia and in close proximity to important markets like ASEAN, China and India,” she said.

She cited Japanese pharmaceutical giant, Takeda, which announced in 2015 that it would be setting up its Emerging Markets Business Unit headquarters in Singapore.

“This will help Takeda to better understand and meet the needs of Asian patients and consumers. Last year, Yamato Asia set up its Business Model Innovation Centre under its regional headquarters in Singapore. The Centre will perform regional market studies, business development and network development that are aligned with Yamato’s customers’ needs,” she added.