Major Japanese food firms relocating to PH from China
Major Japanese food manufacturers are relocating to the Philippines from China with initial investments of $500 million for the production and processing of marine products for export to Jaoan and other countries.
Former Congressman Renato V. Diaz, who is now chairman and president of the Philippine Aquamarine Resources Inc., said at least 10 Japanese food companies operating in China have formed a consortium for their eventual relocation to the Philippines.
Political tension between Japan and China has caused Japanese investors to rethink of the future of their operations in China.
According to Diaz, consortium members are looking at Clark Freeport because majority of the products are geared for exports to the world, particularly Japan. Other locations bring eyed are the Zamboanga Special Economic Zone in Mindanao, Mindoro in the Visayas and Clark Freeport.
Initially, the Jaoanese firms will start with the production and processing of eel and eventually the processing of other agri products including mangoes.
Consortium members include Nisshin Food Material Co. Ltd., Yamato Global Express Co. Ltd., Yamato Web Solutions Co. Ltd., Yamato Transport Co. ltd., Showa Denko K.K. , Showa Denko Gas Products Co., Ltd., North Japan Trade Co. Ltd., Yuasa Trading Co. Ltd., Dai Nippon Printing Co. Ltd., Majend MAKCS Co. Ltd., Hokkaido Ajinomoto Co., Inc., MC Food Specialties Inc., Showa Sangyo Co. Ltd. , Yokoyama Foods Co. Ltd. and Tomoechan Co.