Weekly Japanese Industry and Policy News (June 22- June 28, 2024)

The EU-Japan Centre is pleased to start a new weekly service by publishing brief summary of the latest information from the Japanese governmental organizations & private companies/organizations. A couple of minutes reading to be informed about what is happening in Japan's policy, economy, EU-Japan relations, and innovation.

*Information is deemed correct at the time of release. 

Minister of Economy, Trade and Industry Saito Holds 4th Japan-U.S. Commerce and Industry Partnership (JUCIP) Ministerial Meeting with U.S. Secretary of Commerce Gina Raimondo
On Wednesday, June 26, Minister of Economy, Trade and Industry Saito held the 4th Japan-U.S. Commerce and Industry Partnership (JUCIP) ministerial meeting with U.S. Secretary of Commerce Gina Raimondo in Washington D.C., USA. After the meeting, the governments of Japan and the United States issued the following joint press release.
During the meeting, both ministers expressed deep concern about the weaponization of economic interdependence and the use of non-market policies and practices targeting specific supply sources of strategic materials. In light of these concerns, the ministers agreed to identify and implement joint initiatives in specific strategic areas. They also agreed to pursue actions to enhance the resilience of strategic supply chains by strengthening supply and creating demand where appropriate. These actions will be pursued individually or jointly with like-minded partners, including the Global South, in accordance with the principles of resilient and reliable supply chains outlined in the recent G7 Leaders’ Statement, and based on appropriate criteria considering not only economic factors but also elements related to these principles.
METI (in Japanese): https://www.meti.go.jp/press/2024/06/20240627004/20240627004.html

Minister of Economy, Trade and Industry Saito held talks with BIE Secretary General Kerkentzes
On Monday, June 24th, Minister of Economy, Trade and Industry Saito held talks with Bureau International des Expositions (BIE) Secretary General Kerkentzes. Minister Saito stated that in preparation for the opening of the Osaka-Kansai Expo, efforts would be made to further foster a nationwide momentum. He also explained the Japanese government's initiatives regarding the participation and management of official participants, and requested continued cooperation for future preparations.
Secretary General Kerkentzes expressed gratitude for the various efforts and strong support from the Ministry of Economy, Trade and Industry since their meeting in April this year. He also conveyed that positive feedback had been received from participating countries regarding the progress of the Expo, indicating support for Japan's initiatives.
Minister Saito and Secretary General Kerkentzes agreed to continue to work closely together to ensure the success of the Osaka-Kansai Expo.
METI (in Japanese): https://www.meti.go.jp/press/2024/06/20240624002/20240624002.html

Minister of Economy, Trade and Industry Saito Attends First Japan-U.S.-ROK Commerce and Industry Ministers’ Meeting
On Wednesday, June 26, in Washington D.C., U.S.A., Japan’s Minister of Economy, Trade and Industry, Saito Ken; U.S. Secretary of Commerce, Gina Raimondo; and South Korea’s Minister of Trade, Industry and Energy, Ahn Duk-geun, gathered to hold the first Japan-U.S.-ROK Commerce and Industry Ministers’ Meeting. This meeting was based on the agreement made at the Japan-U.S.-ROK summit held at Camp David in the United States last year.
The three ministers confirmed the significance and importance of economic cooperation among the three countries, discussed strengthening trilateral cooperation in economic areas such as critical and emerging technologies, supply chain resilience, fair competition conditions, and clean energy, and issued a joint statement on cooperation in specific fields such as semiconductors, AI, critical minerals, and clean energy.
The three ministers also agreed to hold the Commerce and Industry Ministers’ Meeting annually and concurred on continuing to advance cooperation in various fields at the working level.
METI (in Japanese): https://www.meti.go.jp/press/2024/06/20240627005/20240627005.html

Construction begins on clean ammonia production facility in UAE, project loan agreement signed
Mitsui & Co., Ltd., alongside TA'ZIZ, Fertiglobe, and South Korea's GS Energy Corporation, has agreed to commence construction of an ammonia production facility in the United Arab Emirates ("UAE"). In addition, Mitsui has signed a loan agreement with Japan Bank for International Cooperation ("JBIC") to finance the development of the project. The project involves the construction of an ammonia production facility in Al Ruwais, UAE. Starting from 2027, the plant is expected to produce 1 million tons per year of ammonia with lower CO2 emissions compared to conventional ammonia. To achieve CO2 emission reductions, additional facilities will be installed in the plant to capture and store CO2 emitted in the manufacturing process, with plans to begin production of clean ammonia by 2030. In addition to its participation in the project, Mitsui will offtake a certain volume of the clean ammonia produced at the plant for supplying Japan and other Asian markets, thereby contributing to the decarbonization of society as a whole, through its use in fuel applications, chemical and fertilizer feedstock applications, and other industries.
Mitsui & Co.: https://www.mitsui.com/jp/en/release/2024/1249366_14372.html

ITOCHU Announces Medical Devices Transportation Proof of Concept Using the Latest eVTOL Drone “Wingcopter 198” from Germany
ITOCHU Corporation (Headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced that ITOCHU has conducted a proof of concept transporting medical devices across Uchiura Bay in Hokkaido using drones. This marks the first time a drone has crossed Uchiura Bay in Japan. In Japan, the Aviation Act was amended in December 2022 to legalize Level 4 flights*, significantly expanding the potential applications for drones. Medical devices, due to their nature, require both urgency and punctuality in transportation. Society is facing the challenges of maintaining logistics infrastructure and personnel, and ensuring that products can be supplied stably to remote islands, to mountainous areas, and during events foreseen in business continuity planning (BCP) scenarios. The potential of drone usage to enable the fully automated high-speed transportation of medical devices and address these challenges is significant. This proof of concept was conducted jointly with Takeyama Co., Ltd., Drone University, and in cooperation with AIR WINGS LLC.
ITOCHU: https://www.itochu.co.jp/en/news/press/2024/240624.html