Japan - India Relations

Japanese sanitaryware maker TOTO looks to tap opportunities in India's Tier-II & III cities

TOTO, the sanitaryware manufacturer from Japan, planned to strengthen its foothold in India's Tier-II and Tier-III cities.  TOTO India aimed to add 40 new channel partners in 2024 and broaden its product offerings to cater to diverse preferences. 

Japanese financial company SMFG to invest INR 1,300 Cr in its Indian arm

Japan's Sumitomo Mitsui Financial Group (SMFG) has invested INR 1,300 Cr in its Indian arm, SMFG India. The Japanese financial company has expanded its presence to 990 branches across India.
SMFG India provides loans across 670+ towns and 70,000+ villages through 819 branches and 19,000+ employees, offering ending products to underserved retail and small business borrowers.
 

Japanese open RAN technology provider Rakuten Symphony to invest $10 Mn in AI, 6G development in India

Rakuten Symphony plans to invest $10 Mn in India  to enhance AI capabilities and conduct research on 6G. The initiatve is based in company's Bengaluru research and development center, its second-largest tech hub outside Japan.

Suzuki Motor will invest INR 350 Bn ($4.21 Bn) for a second car plant in Gujarat

Suzuki Motor Corporation will invest INR 35,000 Cr to set up its second manufacturing facility in Gujarat which would produce another 1 Mn units per year. As a result, the annual production capacity in Gujarat will be 2 Mn units -- 1 Mn units at Suzuki Motor Gujarat and 1 Mn units at the second new plant.

Japan's Mitsubishi Electric Corp announced to invest INR 18.91 Bn ($231.2 Mn) to setup a manufacturing facility for air-conditioners and compressors in Tamil Nadu

The manufacturing facility for room air-conditioners and compressors is expected to come up on a 52 acre land owned by Origins by Mahindra in Peruvoyal village in neighbouring Thiruvallur district. 

Mitsubishi Electric India said that the facility would create over 2,000 jobs of which 60% would comprise women employees. It will also implement various initiatives for carbon neutrality including minimisation of carbon dioxide emissions through enhanced thermal insulation.

Daikin India becomes billion-dollar company, expect to double business in next 3 years

Airconditioner maker Daikin Airconditioning India expects to become a $2-Bn company in the next three years, having crossed the milestone of $1 Bn in FY 2023.

Nissan and Renault to invest $600 Mn to make six new models in India

Nissan Motor and Renault would invest $600 Mn to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. The move is intended to help address falling market shares for the Japanese and French companies in a market with rising global importance.

Japan’s Credit Saison Company invests INR 540 Cr in its wholly owned Indian subsidiary

Japan’s leading financial services player Credit Saison Company invested INR 540 Cr in its wholly owned local subsidiary, Credit Saison India, signalling its intent to enhance exposure in the world’s fastest-expanding major economy.

Dixon to form JV with Japan's Rexxam to manufacture Printed Circuit Boards

Dixon Technologies, a contract manufacturer of electronic goods has entered into a joint venture (JV) with Japan based Rexxam Company to manufacture printed circuit boards (PCBs) for air conditioners for domestic and international markets.

Suzuki to invest INR 10,440 Cr to step up EV production in India

Suzuki Motor Corporation, the parent company of Maruti, has confirmed an investment of INR 10,440 Cr in India to strengthen its EV game plan. As we had reported recently, Suzuki will roll out its first all-electric SUV built at its Gujarat plant by 2025. This made-in-India electric SUV will be sold as a Maruti as well as a Toyota model in India, along with international markets.

Johnson Controls Hitachi Air receives approval for PLI for White Goods

Johnson Controls Hitachi Air will be manufacturing cross flow fans, heat exchangers, sheet metal components with an investment of INR 100.67 Cr under the PLI scheme.

Panasonic India plans to invest INR 350 Cr

Under the PLI Scheme for White Goods, Panasonic India is planning to manufacture compressors and heat exchangers with a total investment of INR 350 Cr

Nidec to invest INR 51.9 Cr

Nidec has received approval under PLI for White Goods to manufacture motors

Nipro receives approval for PLI for Promotion of Domestic Manufacturing of Medical Devices

Nipro will be manufacturing Dialyzers with a commitment of INR 180 Cr.

Daikin to invest in INR 538.7 Cr

Daikin has received approval under PLI for White Goods to manufacture compressors, motors, heat exchangers etc.

Mitsui to invest in Punjab Renewable Energy Systems

Japanese Mitsui & Co announced will invest INR 30 Cr in Punjab Renewable Energy Systems, a biomass supply-chain management company in India. The investment will be aimed at the expansion of the bio-energy business.

Digital entertainment firm JetSynthesys partners with Japanese gaming firm Square Enix

JetSynthesys has partnered with Japanese gaming firm Square Enix to develop new gaming titles in India.

They will launch their first game LudoZenith, a reimagined version of the Ludo board game, in India. They plan to launch it in other markets at a later date.

Daicel to set up automobile airbag inflator manufacturing plant at OneHub Chennai

Daicel Corporation, headquartered in Japan, will be setting up an airbag inflator manufacturing plant in CapitaLand’s industrial township OneHub Chennai. It will be Daicel Corporation’s first airbag inflator manufacturing plant in India with a planned investment of about INR 230 crore in phase 1.

Japan’s Orix to acquire 20% stake in Indian renewable developer Greenko

Orix Corporation, a Japan-based financial services group has signed an agreement with renewable energy project developer Greenko Energy Holdings, to acquire approximately 20% of its shares, at a total value of around $980 mn (around INR 72.07 bn). As part of the agreement, the company will also add 873 MW of its wind energy portfolio in India into Greenko’s portfolio in exchange for the shares.

Apparel retailer Uniqlo establishes online presence and launches new store

Uniqlo, the Japanese global apparel retailer, launched its online 'Shop from Home' service and opened a new physical store in Noida, NCR.

Japan's NTT to invest $2 Bn in India to set up data centres over next 4 yrs

It will be building new campuses in neighbouring Navi Mumbai, Chennai and Noida, and also augmenting capacities at its existing facilities in the financial capital and Bengaluru.

MUFG Bank launches system development and operations unit in India

MUFG Bank has set up a system development and operations wing in India, with plans to develop it into a unit that supports the bank’s business across the Asian and Oceanian regions and elsewhere. With a capital of $4 mn, MUFG Bank holds a 99.9% stake, while its system development arm Mitsubishi UFJ Information Technology Ltd. holds the remainder.

Bugworks raises $9 Mn Series-A funding to develop antibiotics to fight superbugs

The Series A funding and the CARB-X award will enable Bugworks to take its drugs to clinical trials, and find new ways to fight the global threat of drug resistance.

SoftBank’s India investment hits $8 Bn mark

In December 2014, Masayoshi Son, founder of Japanese internet giant SoftBank Group said that his group would invest $10 Bn in the Indian market by 2024. However, within five years, since Son made that remark, SoftBank has already achieved the $8 Bn mark and is likely to surpass the committed amount much before the targeted year.

Nissan likely to set up its digital hub in Technopark, Kerala

Nissan is eyeing on Technopark in Thiruvananthapuram, Kerala to set up its R&D facility to promote innovation. The venture is expected to create about 500 high-end jobs in its first phase.

17 auto ancillary units to come up near Suzuki's Hansalpur plant

Suzuki Motor Corp is planning to set-up 17 automobile ancillary plants in Bhagapura near their Hansalpur plant in Gujarat, with an expected investment inflow of $131 mn.

Kobelco Construction Equipment breaks ground for plant expansion in Sri City

Kobelco Construction Equipment Co. starts expanding the manufacturing capacity at its facility in Sri City in Andhra Pradesh, with a planned investment of around $11.5 mn.

Ise Foods looking to invest in poultry farm and egg-processing industry

Japan's largest egg producer, Ise Foods signs MoU with the Ministry of Food Processing Industries, India to offer support in poultry, egg production and the upcoming Ise-Suzuki Mega Project in Telangana with an investment commitment of $34 mn.

Sumitomo enters Indian realty sector with $2 Bn project

Japan’s Sumitomo Corp and Indian auto-component manufacturer Krishna Group announce a 50:50 JV in the Indian real estate market to set up the Krisumi City Project in Gurugram in Haryana, with a planned investment of $2 Bn.

Panasonic inaugurates their maiden refrigerator factory

Panasonic India sets up their maiden refrigerator manufacturing factory in Haryana with an investment of $18 mn. 

Sega Sammy, GHV Accelerator to put $100k each in 10 startups

Japanese entertainment company Sega Sammy is partnering with Gurugram-based GHV Accelerator to invest a minimum seed fund of $1,00,000 each in 10 startups. 

Japanese MNC Toray to invest in Sri City in Andhra Pradesh

Japanese MNC Toray plans to set up their unit to manufacture technical textiles in Sri City in Andhra Pradesh, with expected investment inflow of $157 mn.

Japan’s Recruit Group, others invest in online lending startup Rubique

Rubique, a Mumbai-based online marketplace for financial products, has raised an undisclosed amount in a funding round led by Japan's Recruit Group and Russian venture capital firm Emery Capital.