Japan to invite small businesses to declare ¥10 billion sales targets
The Japanese government will invite small and midsize businesses to declare sales targets of ¥10 billion or more from fiscal 2025, aiming to support their growth and bolster regional economies.
The Small and Medium Enterprise Agency will provide subsidies to boost capital investment to companies that make such declarations, expecting that such businesses will make significant contributions to local economies.
From around May, the agency will invite applicants for the project from about 90,000 small and midsize companies with annual sales of ¥1 billion to less than ¥10 billion.
Applicants will be required to submit their sales targets and specific plans to realize them, which will be disclosed on a special website.
For companies making such declarations, the agency will support their large-scale capital investment projects, providing subsidies of up to ¥500 million to build and improve factories.
The agency under the Ministry of Economy, Trade and Industry is also considering granting tax incentives and holding events for business managers to build networks.
According to the ministry, Japan has about 4,500 companies with annual sales of ¥10 billion or more. But many of them are concentrated in metropolitan areas.
"The growth of small and midsize companies in rural areas is essential for regional revitalization," a ministry official said. "First of all, we'll work to get many companies to make declarations."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Mainichi
32 minutes ago
- The Mainichi
Japan, EU eye launch of 'competitive alliance' scheme to boost trade
BRUSSELS (Kyodo) -- Japan and the European Union are preparing to launch an "alliance" framework to beef up their companies' competitiveness by promoting trade and economic security cooperation, diplomatic sources said Saturday, facing concerns over U.S. President Donald Trump's tariffs and Chinese trade practices. The creation of the "Japan-EU Competitiveness Alliance" is expected to be announced at a regular summit meeting being arranged for July, when Japanese Prime Minister Shigeru Ishiba is likely to host European Council President Antonio Costa and European Commission President Ursula von der Leyen, they said. The move will further align both sides' efforts to uphold a rules-based economic order, building on cooperation through a free trade agreement that removes tariffs and other trade barriers between the two economies, which account for 20 percent of the world's gross domestic product. Under the framework, Japan and the EU will work together to diversify supply chains for rare earth minerals in the face of China's export restrictions on the elements crucial for the production of smartphones and other high-tech products, according to the sources. They will also align subsidy conditions for environmental technology such as electric vehicle and hydrogen production to promote fair competition for manufacturers and reduce development costs. On the trade front, the two sides will seek to promote reform of the World Trade Organization that is deemed dysfunctional, with the United States dissatisfied with the global body's response to addressing Chinese trade practices and other issues. They will also seek to collaborate with the "Global South" emerging and developing economies as partners sharing values of free and fair trade as well as the rule of law, the sources said. The EU is also eager to cooperate with a vast trans-Pacific free trade agreement involving Japan and 10 other nations, plus Britain that joined the accord in 2023. Some inside the bloc have called for joining efforts in rulemaking, as members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership weigh better business environment for digital trade and climate change countermeasures.
Kyodo News
2 hours ago
- Kyodo News
Kyodo News Digest: June 8, 2025
KYODO NEWS - 7 minutes ago - 09:02 | All, Japan, World The following is the latest list of selected news summaries by Kyodo News. ---------- Japan, EU eye launch of "competitive alliance" scheme to boost trade BRUSSELS - Japan and the European Union are preparing to launch an "alliance" framework to beef up their companies' competitiveness by promoting trade and economic security cooperation, diplomatic sources said Saturday, facing concerns over U.S. President Donald Trump's tariffs and Chinese trade practices. The creation of the "Japan-EU Competitiveness Alliance" is expected to be announced at a regular summit meeting being arranged for July, when Japanese Prime Minister Shigeru Ishiba is likely to host European Council President Antonio Costa and European Commission President Ursula von der Leyen, they said. ---------- Japan opposition lawmaker says rice reserves mostly go to chickens TOKYO - A lawmaker of Japan's main opposition party said Saturday that government rice reserves recently put on sale are mostly consumed by chickens, doubling down on remarks that could be perceived as insensitive to people who have snapped up the old rice due to cheaper prices. Kazuhiro Haraguchi of the Constitutional Democratic Party of Japan made the remarks at a gathering in southwestern Japan to shore up support ahead of the upper house election, even after Yuichiro Tamaki, leader of another opposition party, apologized a week ago for likening the stockpiles to "animal feed." ---------- Tennis: Oda, Kamiji win French Open wheelchair singles PARIS - Japan's Tokito Oda won his third consecutive French Open wheelchair tennis singles title Saturday, defeating Britain's Alfie Hewett 6-4, 7-6(6). Earlier in the day, Japanese compatriot Yui Kamiji claimed her fifth wheelchair singles title and first in five years with a 6-2, 6-2 victory over Aniek van Koot of the Netherlands. ---------- Japan, U.S. yet to find common ground on tariffs but want quick deal WASHINGTON - Japan and the United States have "yet to find common ground" on tariff issues, Tokyo's top negotiator said Friday, indicating that there remain many differences between the sides, but they still aim to clinch a win-win deal in mid-June. After holding talks with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington, Ryosei Akazawa told reporters that he believes "further progress" was made. ---------- Over half of rice producing firms feel store rice prices "too high" TOKYO - Over half of large-scale rice producers feel that store prices for rice are "too high," a recent survey conducted by an association of agricultural corporations showed, indicating that many of them share concerns with consumers about the elevated cost of the staple food in Japan. As households increasingly complain about rice prices that have doubled over the past year, more than 40 percent of respondents worried that consumers may start shunning the product. ---------- New South Korea President Lee to make diplomatic debut at G7 summit SEOUL - Newly elected South Korean President Lee Jae Myung has accepted an invitation to the upcoming Group of Seven summit taking place in Canada later this month, the presidential office said Saturday. Lee's attendance at the G7 meeting, to be held over three days from June 15 in Alberta, Canada, will mark his debut on the diplomatic stage. He took office on Wednesday following his victory in the country's 21st presidential election. Video: Parade at Hyakumangoku Festival in Ishikawa Prefecture
Nikkei Asia
4 hours ago
- Nikkei Asia
BOJ expected to stick with JGB purchase decrease after April 2026
TOKYO -- The Bank of Japan, the country's biggest government bond holder, intends to continue reducing Japanese government bonds purchases after April 2026, allowing interest rates to be determined more freely by the market, Nikkei has learned. The original plan to reduce JGB purchases was to last through March 2026, but that will likely be extended. The central bank held 52% of all JGBs as of the end of 2024.
