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A New Japanese Subsidy Program for Projects Promoting Asian Site Location in Japan

SAN FRANCISCO, Oct. 10, 2012 (GLOBE NEWSWIRE) -- The Japan External Trade Organization (JETRO) is currently accepting applications for the third annual Japanese subsidy program targeting projects that promote a new Regional Headquarters or R &D site in Japan. The application deadline is 12:00 noon, Monday, November 19, 2012 (Japan time).

The program will support internationally-operated companies who establish new high-value-added sites in Japan such as Regional Headquarters or R &D Sites by providing up to 500,000,000 yen in subsidies and other assistance. The program also aims at strategically and proactively inviting and building high-value-added business functions that match the strength of the Japanese economy.

Subsidy Overview

Applicable Companies: Private enterprises whose group companies are operating actual business in two or more countries, who have or will have corporate status in Japan, and who plan to establish a Regional Headquarters or R &D facility in Japan.

Subsidized Costs: Survey design costs, facility costs, equipment costs and facility lease fee

Subsidy Rates: Up to one-half for SMEs; up to one-third for non-SMEs; up to two-thirds for those establishing a site in the disaster afflicted zones (Limit: 500 million yen)

JETRO has been the Secretariat for this subsidy program coordinated by the Ministry of Economy, Trade and Industry (METI) since 2010. "The Japanese government is serious about helping foreign companies do business in Japan. This subsidy is a very generous incentive program for foreign companies," says a JETRO representative. Japan remains an attractive location for business and investment. Last year, METI funded 10 projects from companies around the globe including the following U.S.-owned companies:

NeoPhotonics Japan, Godo Kaisha: R &D, optical communication equipments

Nihon Cabot Microelectronics K.K.: R &D, materials for electronics component (abrasive)

3M Health Care Ltd.: R &D, healthcare products

As an added benefit, personnel of the companies selected for this subsidy program are given 10 points under the new points-based preferential immigration treatment for highly skilled foreign professionals launched by the Ministry of Justice, Japan in May 2012. Under the points-based system, foreign professionals who earn 70 points or more will be recognized as "highly skilled foreign professionals" and will be given preferential immigration treatment such as permission for multiple purposes of activities during their stay in Japan and preferential processing of immigration and stay procedures.

The 2012 program was announced on Tuesday, August 28, 2012. Applications will be accepted until 12:00 noon, Monday, November 19, 2012 (Japan time).

For details, please visit our website:

Subsidy program and application guidelines: www.jetro.org/subsidy2012

Points-based preferential immigration treatment: www.jetro.org/immigrationtreatment

Contacts

For any questions about applications, please contact the nearest JETRO USA office (www.jetro.org/office_locations):

JETRO Atlanta : AMA@jetro.go.jp (TEL: 404-681-0600)

JETRO Chicago : Robert_Corder@jetro.go.jp (TEL: 312-832-6000 ext. 204)

JETRO Houston : Keith_Sanders@jetro.go.jp (TEL: 713-654-5258)

JETRO Los Angeles : Kristoffer_Miller@jetro.go.jp (TEL: 213-624-8855 ext. 119)

JETRO New York : Saori_Ezuka@jetro.go.jp (TEL: 212-819-7767)

JETRO San Francisco : Matt_Stephens@jetro.go.jp (TEL: 415-392-1333 ext. 223)

JETRO Toronto : inquiry@jetro.go.jp (TEL: 416-861-0000)


About JETRO USA (www.jetro.org)

The Japan External Trade Organization (JETRO) is a non-profit government related organization that promotes trade and investment between Japan and the rest of the world. Our six U.S. branches located in Atlanta, Chicago, Houston, Los Angeles, New York and San Francisco serve the following four main objectives: Help U.S. companies establish a Japan office, Help U.S. companies find Japanese business partners, Connect U.S. investors with cutting-edge Japanese technology ventures and Showcase premium Japanese goods.


This material is distributed by JETRO San Francisco on behalf of Japan External Trade Organization, Tokyo, Japan. Additional information is available at the Department of Justice, Washington, D.C.

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The JETRO USA - Japan External Trade Organization logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14463

CONTACT: Hiroko Ogawa, Public Relations & Marketing JETRO San Francisco Tel: 415-392-1333 ext.237 E-mail: Hiroko_Ogawa@jetro.go.jp

Source:JETRO USA-Japan External Trade Organization