Mon. Dec 9th, 2019

Japan may seek China’s help for the revival of its tech innovation

Japanese brands, such as Sony, Panasonic, etc., led the tech industry before the mobile internet era. When advancing their operations throughout the previous decade, both India and China sought Japan’s help. The tables appear to have turned since Japan is now the one looking for China to become a chief partner in its efforts as it hopes for a tech innovation revival.

Japan’s economy is still greatly focused on its manufacturing industry. More than 50 percent of the leading 500 local firms belong to its manufacturing sector. On the other hand, as stated by the list published by CrunchBase Insights, Japan is the home country of only 3 unicorn initiative (private companies) valued at $1 billion.

In countries like the United States and China, initiatives chiefly drive tech entrepreneurialism. However, as stated by Shimizu Kenji, JETRO’s director-general, Japanese firms are taking a more significant step in advancing tech innovations

On Monday, during a panel at TechCrunch Shenzhen 2019, he stated how there was a lesser number of startups in Japan now, however, large corporations were extremely proactive in pushing innovations.

Daikin Industries is a renowned air conditioner manufacturer. Its senior associated officer Inazuka Tetsu, stated how corporate innovation has been gradually but surely grabbing momentum, especially in the past couple of years.

Inazuka Tetsu, from Daikin, stated how Daikin is a firm that supports more than a decade of history and is renowned for its manufacturing business. However, she added, as the digital era approaches, they acknowledge how digitalizing their operations is a pressing issue. She added how closer links with Chinese firms, which are excelling in this field, may aid them in keeping their pace with the trend.