Invest Japan Seminar in Stockholm "Japan Day in Stockholm - 150 Years on"

October 2018

Cerebrating the 150th year of diplomatic relations between Sweden and Japan, on October 11, 2018 JETRO held an Invest Japan seminar in Stockholm, Sweden, under the title "Japan Day in Stockholm -150 Years On." The seminar was held at Epicenter Stockholm, which is known as an innovation hub in the capital city, and joined by approximately 60 people, mainly from local startups. JETRO called on visitors to seize business opportunities through collaboration with Japanese companies and to invest in Japan.

In his guest speech, Deputy Head of Mission Shinji Watanabe of the Embassy of Japan in Sweden mentioned the cordial relationship between Sweden and Japan, and stated that support activities for facilitating innovation through collaboration between the two countries would lead to economic development for both sides.

From NTT Data Corporation, a presentation was made by Kotaro Zamma, Head of the Open Innovation and Business Incubation Section, and Kazuya Okada, Senior Expert of Open Innovation Team of the Digital Strategy Promotion Department. Introducing the Open Innovation Contest organized by their company in Finland in February 2019, they promoted their company as a liaison between international startups and large Japanese companies. Regarding the Japanese business environment, they said "While entry to the Japanese market is difficult as it is already mature and competitive, you can therefore earn trust and anticipate continuous business expansion once you have entered it. Now is a very good time for starting business in Japan because various programs are offered for assisting overseas companies, as seen in the close support by JETRO and introduction of a regulatory sandbox system by the Japanese government.”

Northvolt AB, a Swedish lithium ion battery manufacturer established in 2016 by former executives of Tesla, opened an office in Osaka in June 2017. Looking back over this period, Purchasing Director Luc Hovan, who has abundant experience in the country, said that his company had been eagerly hoping for cooperation with Japan, a pioneer country in lithium batteries, as it aimed to develop operations by riding on the wave of industrial needs for the new era, such as in the fields of automobiles, mining, agriculture and energy. Regarding advice for succeeding in Japan, he said, "Trust is the first priority. Forging a trustful relationship is the most important element. Tenacity is the second. You must repeatedly and tenaciously explain your proposals until both your bosses and your customers are satisfied. And never forget thoughtfulness toward the other party. In Japan, you can build a tremendous relationship once you have gained your partner’s understanding."

During the Q&A session, the speakers received numerous questions from local companies aspiring to establish a site in Japan and eager to hear directly from Japanese companies on topics such as secrets to success in the country.

Closing remarks were given by Marie Claire Maxwell, Head of Technology and Start-Up Lead for the Asia Pacific and Mikael Johansson, Senior Business Development Manager at Business Sweden, who stated that they hope to continue working with JETRO in assisting overseas business expansion by Swedish companies.

Finally, in a call for the audience to utilize JETRO's support for expanding into Japan, General Director Takumi Fujino of JETRO London stated that Japan’s business environment is changing on a daily basis, citing the introduction of a regulatory sandbox system as one example of reform. In the networking reception, the Osaka Business and Investment Center (O-BIC), the Aichi-Nagoya International Business Access Center (I-BAC) and JETRO each set up a consultation desk and closely responded to inquiries from local companies interested in doing business in Japan.