Toyota Tsusho Corporation ("Toyota Tsusho") announces it will sign a memorandum of understanding (MOU) with Aichi Prefecture to support the prefecture's companies in expanding their business outside Japan. The MOU is expected to be signed April 18, 2017.

According to Aichi Prefecture, there are currently 800 companies in the prefecture doing business outside Japan. This number is expected to grow in the future with the rising tide of globalization. Aichi Prefecture has already begun various initiatives to support local companies, including the establishment of overseas representative offices in Bangkok and Shanghai, and collaborative efforts with private-sector financial companies as well as JETRO.

Aichi Prefecture proposed collaboration with Toyota Tsusho as a way to augment its initiatives by utilizing the expertise and know-how of a private-sector leader involved in various ventures outside Japan to provide more practical information to companies. The two parties then engaged in detailed discussions on the MOU. Both Toyota Tsusho and Aichi Prefecture expect their close collaboration to facilitate successful expansions by companies in the prefecture outside Japan through accurate provision of information on local business environments and improved responsiveness to companies requiring consultative support.

Aichi Prefecture’s Aichi International Business Support Center will serve as the central contact center for companies. The center will then refer companies to Toyota Tsusho for information on expanding to overseas markets and consultations. Companies expanding to markets outside Japan must gather information beforehand and take necessary measures in consideration of the different laws and regulations in each country. Toyota Tsusho will use the know-how and networks its has developed through decades of international business experience to provide practical information to companies. Regarding specific types of information and services offered, Toyota Tsusho and Aichi prefecture will continue to plan the services based on the actual needs and conditions of the companies.

Toyota Tsusho looks forward to a long partnership with Aichi Prefecture aimed at sharing its overseas business experience and expertise as beneficial information for companies in the prefecture.