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Tokyo government aims to attract Industry 4.0 companies

Assistance for overseas financial companies will be boosted with the provision of free business consulting services

Tokyo is stepping up its efforts to attract leading edge companies into the city
Tokyo is stepping up its efforts to attract leading edge companies into the city

The Tokyo Metropolitan Government (TMG) is stepping up its efforts to attract what it describes as fourth industrial revolution companies to the city.

TMG is seeking to solidify Tokyo’s position as the top international financial and economic city in Asia and wants companies in the areas of Internet of Things (IoT), big data and artificial intelligence (AI), and foreign financial corporations, such as asset management and FinTech to set up their Asian regional headquarters and R&D centres there.

Among the new range of measures announced are: extra assistance for overseas financial companies moving into the Tokyo market with free business consulting services to help formulate business plans; support to match FinTech companies and financial institutions in Japan (accelerator programme); and a new subsidy programme.

TMG also plans to introduce a financial one-stop support service to help with administrative procedures as well as comprehensive consulting services for foreign financial firms that are considering setting up their bases in Tokyo.

The Tokyo One-Stop Business Establishment Centre (TOSBEC) will set up a satellite centre in Shibuya district to provide English-speaking advice about the protocols that need to be followed when establishing a business in the city.

In addition, TMG said it will introduce an extensive programme to support companies in their daily lives. It will ease regulations on housekeeping services provided by foreign nationals to alleviate the burden of housework to help support foreign professionals after they have relocated.

By making use of a special provision to the Immigration Act, new companies will be able to access cooking, laundry, cleaning and shopping services offered by foreign nationals.

Tokyo also wants to bring about improvements making it easier for foreign residents to live there, including enhanced clinical services by enacting a special provision to bilateral agreements on foreign doctors.

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