While Japan has traditionally looked to far-flung middle class markets for growth, the key to its economic future lies in growing engagement with the countries on its doorstep.
Japan Rebooted: ASEAN the next frontier highlights the opportunities in the markets on Japan’s doorstep, particularly for consumer products, clothing, food, financial services, education, and health care. It also cites infrastructure as a key area of opportunity for Japan.
While Abenomics has successfully made Japanese goods and services more attractive to overseas buyers, it is now up to Japanese companies to uphold their end of the bargain by implementing reforms to truly internationalise and establish new markets in the region.
The report says Japanese firms looking to enter ASEAN markets would be best served by acquiring local entities, because organic growth is often too costly and time consuming. It also highlights the urgency for Japanese firms as competitors from the EU and US consolidate their foothold in the region.
Key statistics in our report include: