Finance Secretary Ralph G. Recto led the Philippine delegation to Japan in wooing Japanese manufacturing giants on June 21, 2024 to expand their operations in the country, pitching it as Asia’s most strategic hub for cutting-edge production and innovation.

The companies included MinebeaMitsumi Inc., Yokohama Rubber Co., Ltd., and Taiheiyo Cement Corporation.

MinebeaMitsumi Inc. is a Japanese multinational manufacturer of mechanical components and electronic devices. The company has three factories in the Philippines (Cebu, Bataan, and Batangas) with product applications ranging from mobile devices, car electronics, medical devices, home and industrial applications, and wearable technology.

Yokohama Rubber Co., Ltd. manufactures and sells high-quality tires and industrial products. They operate Yokohama Tire Philippines Incorporated (YTPI), which manufactures tires for passenger cars, and Yokohama Tire Sales Philippines, Inc. (YTSP), which handles sales. YTPI is one of the largest facilities in the Clark Freeport Zone and has been an industry leader in tire
technology and innovation across the globe.

Taiheiyo Cement Corporation is involved in cement, mineral resources, environmental, and construction materials globally. Taiheiyo Cement Philippines, Inc. (TCPI), which is headquartered in Cebu, is known for its commitment to investing capital, advanced technologies, and materials supporting infrastructure, mass housing, and commercial development projects in line with the Build, Better, More infrastructure program.

The meetings were held on the sidelines of the Philippine Economic Briefing in Japan.

Earlier, the Philippine delegation also met with other top-notch Japanese companies, including Sojitz Corporation, Mitsubishi Corporation, Murata Manufacturing Co., Ltd., Sumitomo Corporation, Nomura, and Marubeni Corporation.

Joining Secretary Recto were Department of Budget and Management Secretary Amenah F. Pangandaman; National Economic and Development Authority Secretary Arsenio M. Balisacan; Department of Trade and Industry Secretary Alfredo E. Pascual; and Department of Transportation Secretary Jaime J. Bautista.

Also present were Department of Energy Undersecretary Felix Fuentebella; Bangko Sentral ng Pilipinas Deputy Governor Francisco G. Dakila, Jr.; Bases Conversion and Development Authority President and Chief Executive Officer Joshua M. Bingcang; and Philippine Ambassador to Japan Mylene Garcia-Albano.