Why start a business in Japan?
It’s critical to recognize Japan’s influence on global trade. The country has a reputation as a world leader in creative thinking and industry. If you can succeed in Japan, which is now seen as a market that sets trends, you will have an excellent chance of expanding your business internationally.
Before starting your business in Japan, here are the factors you should consider:
The Japanese Market
• The Japanese economy is 3rd in the world.
• Since the 1960s, Japan has been producing the most automobiles of any country in the world, and this trend has continued.
• Among the world’s most technologically advanced nations, this one is at the top of Young Diplomats’ Top Ten.
• Consumer products, high technology, manufacturing, industrial, and defense and security are all crucial parts of the economy.
• Medicines, medical gadgets, automobiles, and transportation equipment all stand to benefit greatly from the recent EU-Japan Economic Partnership Agreement (EPA). It provides equal treatment for EU companies and liberalizes trade in services like finance and telecom.
26% of Japan’s population is over 65 years old, the highest rate in the world.
• The Japanese consumer population is known for its openness to novel ideas and innovations.
• By 2020, Japan had the third-highest number of billionaires per capita, which is projected to rise.
• Japanese buyers aren’t just looking for a good deal but are also keen on investing in excellent products and services. They increasingly prefer high-quality Western goods and are particularly fond of cutting-edge technology.
• 26% of Japan’s population is over 65 years old, the highest rate in the world.
What kind of business to establish in Japan?
Nonconventional Power Source
Following the nuclear disaster at the Fukushima power plant, the Japanese government has been looking for alternative, safer energy sources.
Medical Services, Medicines, and Related Products
The demand for these goods is driven by the fact that by 2050, 40% of the world’s population is expected to be over 60 years old.
Agriculture and Food Production
Japan has a high population density and a small amount of arable land; therefore, it must rely more on imports to meet its needs.
Extremely Advanced Equipment
Digital media, information technology, and communications, as well as a few high-tech applications, all benefit from the public’s insatiable desire for new developments and the widespread use of these technologies.
Fashion and Design
Japan is a great market for existing brands and budding designers to launch and grow their enterprises due to the country’s high-income norms and quality-conscious consumers.
Video Games and Music
As the world’s leading market for video games and the number two market for recorded music, Japan is a cultural powerhouse.
How to Launch a Successful Company in Japan
When it comes to getting your business up and running in Japan, SME Japan has you covered from incorporation through administration. While you concentrate on expanding your business, we will handle your administrative costs.
Anywhere you are in the world, SME Japan is here to help you get started and assist you along your journey to success, whether you are a start-up business or a multinational corporation wishing to establish a subsidiary in Japan.
If you have an established company in Japan, we will assist you in transitioning to our one-stop service with minimal disruption to your operations. Inquire now!
"Otsumami" - a bite size snack:
There is always an opportunity to start your business in Japan if you know where to look!