Helping US Businesses Leverage Opportunities in Japan

With many economies recovering quickly from the COVID-19 pandemic, Tricor expects that FDI flows into and out of Asia remain the highest in the world.

Hong Kong Economic Journal

Tricor provides clear and practical advice for risk management and business continuity in the post-COVID era. Tricor is well versed in the opportunities and challenges facing organizations in Asia and are poised to support.

Bloomberg Businessweek

Tricor are the experts on trade in Asia Pacific, with teams of experienced professionals able to provide business services, corporate services, HR and compliance support for multi-country operations.

Channel News Asia

Tricor possesses global knowledge and local expertise on matters related to Asian IPOs, foreign investment and international expansion.

Hong Kong Economic Journal

Tricor provides a comprehensive suite of corporate and business service solutions, with added expertise in IPOs, GRC, and global trade.

The Standard

Expanding to Japan in the Post-COVID Era

While Japan, the world’s third-largest economy, surprisingly grew 12.7% in Q4 of 2020¹, the government has unveiled a US$1 trillion stimulus to protect jobs because of the impact of the COVID-19 pandemic. After 30 years of sluggish growth, Japan’s Nikkei index regained a key threshold, closing above 30,000 on rising expectations for a rebound in corporate earnings and economic growth.² Energy, healthcare and industrial sectors leading the gains.

As Japan faces various social issues including a declining birth-rate and an aging population and regional disparities, there is a strong need for digital innovation and diverse business sectors. While opportunities abound, laws and various procedures related to setting up a business in Japan can be complex for foreign firms. Tricor’s team of experts partner with firms to simplify business expansion – from incorporation and strategic planning in Japan to scaling across Asia.

Market Content

Factsheet

Country Factsheet - Japan

View Factsheet

Guide

Market Expansion Guide - Japan

View Guide

Guide

Incorporation Guide - Japan

View Guide

Brochure

Japan Made Easy Brochure

View Brochure

Brochure

US Expansion - Technology

View Brochure

US Expansion - Private Equity & Venture Capital

Brochure

US Expansion - PE & VC

View Brochure

Brochure

Entering the Japanese Market - FAQs

View Brochure

View More Resources

Industries Emerging as Economic Drivers in Japan

Banking & Financial

Japan is home to some of the largest banks, measured by deposits, in the world. US firms have a strong presence and, according to the International Bankers Association, “business as usual” has prevailed despite disruptions. Many investors are looking to capitalize on emerging opportunities to add value to financial services in the digital age. Bolstered by government incentives, high consumer demand and an innovative culture, Tokyo is considered an attractive FinTech hub. However, many foreign firms struggle with complex procedures such as obtaining regulatory licenses and financial reporting.

Technology

The government has placed a distinct priority on digital transformation, now preparing to establish a Digital Agency “which can function as a powerful control tower, with highly talented people gathering from both the public and private sectors, to lead the digitalization of the society as a whole.” Japan continues to be a world leader in the Internet of Things (IoT), with not only large companies but also entrepreneurs, startups and smaller ventures innovating to unlock the business value of connected devices.

Industrial & Manufacturing

Japan’s manufacturing and industrial footprint is very diversified, boasting the third highest output in the world. Robots were adopted much earlier in Japan than in other developed countries. Studies have shown that the future of automation will likely see humans working alongside robots, rather than being replaced by them, which could in fact expand employment and increase wages.

Medicine & Healthcare

The Japanese pharmaceutical industry is the third largest in the world after the US and China.³ An aging population and extended life expectancy have increased the demand for medical treatments and will continue to be key drivers for future innovation. Japan is also paving the way by leveraging digital technologies to support healthcare professionals.

Tourism

Japan is expected to be the number one travel destination for tourists after the pandemic ends. Japan ranked 4th out of 141 countries overall, which was the highest in Asia.⁴ It scored highly in the areas of health and hygiene, safety and security, and cultural resources and business travel.

Thought Leadership Content

Perspectives

Perspectives - The Future of Trade & Investment in Japan

Perspectives

Perspectives - Top 3 Reasons Why Now is the Time to Do Business in Japan

Insights

Insights - Top 5 Challenges of Doing Business in Japan

How Tricor Helps US Businesses Navigate Complexity in Japan

Tricor Japan specializes in helping foreign enterprises set up, expand and optimize business operations in Japan. We provide a range of services, including:

Accounting for Japanese entities and special purpose companies (SPCs)
Financial reporting in US GAAP, IFRS, J-GAAP and banking / treasury services
Tax compliance and inbound advisory services
Statutory payroll, benefits and HR advisory services
Corporate secretarial services (entity formation, nominee services, company secretarial support, liquidation management, immigration support/visa application support)

Establishing a business in Japan is complicated and the process may require multiple private sectors and practitioners to be involved in the incorporation as well as post-incorporation phases. With over a decade of experience, Tricor Japan is able to simplify these complex processes and guide our clients through these challenges. We have supported over 750 multinational companies to successfully set up in Japan.

Customer Success Stories

Tricor exceeded all of our expectations and were able to deliver comprehensive solutions to our complex needs in less than two hours. We are impressed!

Lenette Posada Howard
Vice President of Operations
Niantic

We were able to hand off a range of business process outsourcing (BPO) functions to Tricor’s dedicated team, and rest assured that they could handle each task - no matter how cumbersome - expertly and efficiently.

Shotaro Kawahara
CEO
Mobileye Japan

Tricor Japan’s Client Segmentation by Industry

*Based on Tricor’s Top 800 Clients

We offer the necessary support companies need to maintain full compliance in Japan. In addition to our compliance services, we offer serviced office spaces for companies looking for a hassle-free office space solution and outsourced IT support for those companies that do not want to hire an in-house IT resource. Tricor Japan maintain ISO and Privacy Mark certifications, audited business continuity plans (BCP) and IT backups are located both on-site and remotely.

Tricor Japan also has strong relationships with a network of trusted firms handling Recruitment, Litigation, Audit and Transfer Pricing. Whether you are looking to set up shop or streamline and expand your current operations, Tricor is at your service.

"Tricor opens doors for our clients. Establishing a business in Japan is complicated. Tricor is able to simplify these complex processes and guide US companies through these challenges, while maintaining full compliance with the relevant laws and regulations.”

Gary Tok
Chief Commercial Officer
Tricor Group

"Tricor’s local US team is continuously enriching our solutions to better support American companies to expand abroad. Our expertise in Japan is deep and diversified with a holistic understanding of the Japanese market and regulatory environment which is essential for helping American businesses break into this lucrative market. By offering innovative solutions across a broad range of functions, our team streamlines operations and sets clients on the right path to flourish in Japan.”

Michael Fisher
Sales Executive
Tricor US

"Although Japan is a complex market that demands intensive localization, American companies with the right support can successfully scale the typical barriers to entry and thrive in this vibrant international business hub that’s made its mark as a gateway to Asia Pacific. Tricor’s dedicated team in the US and in Japan work diligently to provide the highest quality solutions to our clients so they can reap the benefits of exponential growth here in Japan.”

Scott Sato
CEO
Tricor Japan

"We have built a team of specialists across a diversity of functions, all of whom deeply understand the unique needs of American businesses when it comes to tapping into the Japanese market. Tricor takes great pride in building close relationships with each of our clients so we can fully service their business expansion needs, from market entry strategy to entity formation, bookkeeping, regulatory compliance and tax strategy.

Kevin Smythe
Director, Sales and Marketing
Tricor Japan

References

‘Japan GDP beats forecasts with 12.7% annualized rise for Q4’, Nikkei Asia, Feb. 15, 2021 https://asia.nikkei.com/Economy/Japan-GDP-beats-forecasts-with-12.7-annualized-rise-for-Q4
‘Japan's Nikkei closes above 30,000 on earnings rebound, economy growth hopes’, Stanley White, Reuters, Feb. 15, 2021 https://www.reuters.com/article/us-japan-stocks-idUSKBN2AF06I
Pharmaceutical Industry in Japan - Statistics & Facts, Statista Research Department, 2020 https://www.statista.com/topics/4544/pharmaceutical-industry-in-japan
The Travel and Tourism Competitiveness Report, World Economic Forum, 2019 http://www3.weforum.org/docs/WEF_TTCR_2019.pdf

Helping US Businesses Leverage Opportunities in Japan

With many economies recovering quickly from the COVID-19 pandemic, Tricor expects that FDI flows into and out of Asia remain the highest in the world.

Tricor provides clear and practical advice for risk management and business continuity in the post-COVID era. Tricor is well versed in the opportunities and challenges facing organizations in Asia and are poised to support.

Tricor are the experts on trade in Asia Pacific, with teams of experienced professionals able to provide business services, corporate services, HR and compliance support for multi-country operations.

Tricor possesses global knowledge and local expertise on matters related to Asian IPOs, foreign investment and international expansion.

Tricor provides a comprehensive suite of corporate and business service solutions, with added expertise in IPOs, GRC, and global trade.

Expanding to Japan in the Post-COVID Era