Foxconn says Softbank is buyer of Ohio plant for Stargate project
LAULY LI
August 18, 2025 17:17 JST
TAIPEI -- Taiwan's Foxconn on Monday confirmed that SoftBank is buying its factory in Ohio and that it will work with the Japanese company to build AI data centers in the state under the $500-billion Stargate project, part of U.S. President Donald Trump's manufacturing push.
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Asahi Shimbun
2 minutes ago
- Asahi Shimbun
Ishiba announces initiatives to develop trade, investment in Africa
Prime Minister Shigeru Ishiba speaks at an event Aug. 20 in Yokohama ahead of the official start of the Ninth Tokyo International Conference on African Development. (Pool) YOKOHAMA—Prime Minister Shigeru Ishiba announced several initiatives Aug. 20 to encourage Japanese companies to move into the African market. He spoke at an event related to the Ninth Tokyo International Conference on African Development (TICAD 9), which began in the afternoon. Ishiba announced the Indian Ocean-Africa economic zone initiative to contribute to the development of a huge area from west of the Indian Ocean and covering the African continent. 'Under this initiative, we will further link Africa with the nations in the Indian Ocean region and support efforts in Africa for regional integration and industrial development so that further growth can be achieved,' Ishiba said. The initiative intends to establish an environment to allow for further investment and trade in Africa by Japanese companies. With an increase in Japanese companies exporting to Africa from manufacturing bases in India and the Middle East, the government also plans to utilize official development assistance to set up a distribution network linking African nations as well as the continent with countries outside the region. The government also plans to establish an organ to match Japanese companies with those from other nations to allow for greater moves into the African market. Under a broader plan to create a free and open Indo-Pacific (FOIP) region, the government is seeking to achieve an international order based on rules for the area from Asia to Africa. The latest initiative announced by Ishiba is one part toward the creation of a FOIP as well as to strengthen ties with the Global South group of newly emerging and developing nations. Another initiative announced by Ishiba was a proposal to use ODA to help cultivate the Nacala Corridor development project to link copper mining nations in the African interior with ports on the African east coast. 'This will not only promote African regional integration, but also strengthen the links between Indian Ocean nations and Africa,' Ishiba said. One aim of the initiative is to also bolster Japan's supply chain for important minerals. Forty-nine of the 54 African nations are expected to take part in TICAD 9, which continues until Aug. 22. Japanese companies and organizations are expected to sign about 300 memorandums of understanding regarding cooperative projects with Africa.
Yomiuri Shimbun
32 minutes ago
- Yomiuri Shimbun
AFRICAN DEVELOPMENT SPECIAL / TICAD 9 in Yokohama, Japan, to Highlight Shift from Aid to Investment in Africa as Region Sees Surge in Interest
The Ninth Tokyo International Conference on African Development (TICAD 9), a summit-level meeting to discuss how to assist Africa with its development, is being held from Wednesday to Friday in Yokohama. Economic growth is expected to continue in Africa, which has an energetic young population, and the region's huge market potential is attracting attention across the world. The conference is also an important occasion for Japan to build and deepen its relationships with countries on the continent. Potential The engine of Africa's economic growth is thought to be its population, which is expected to continue growing through the end of the century, and the fact that it is young. According to the United Nations, Africa's population, which was about 1.46 billion in 2023, is predicted to surpass 2.4 billion in 2050, which would account for a quarter of the planet's people. The median age in Africa is on track to be 24.4 years old in 2050. In 2100, when Africa's population is projected to reach about 3.8 billion, the median age is predicted to be 35.1. That is more than 10 years younger than the 2100 projected median age of 47.8 in India, the country with the largest population currently. Interest and money from all over the world are being concentrated in Africa's markets. In 2024, total direct investments into Africa hit a record high of about $97 billion (about ¥14.2 trillion). Meanwhile, economic growth in the region this year is estimated to be 3.7%, according to the United Nations, one percentage point higher than the worldwide average. Japanese companies are also stepping up their advance into African markets. In 2015, Japanese or Japanese-funded companies had 687 sites in 38 African countries. By 2024, the number of sites had grown to 948 in 40 countries, an increase of 40% in 10 years. Some of the companies are making their presence increasingly felt by working to resolve social problems in Africa. Their projects innclude utilizing drones and AI in the fight against malaria and supplying electricity to areas off the grid. Major blow The main agenda of the TICAD is shifting from providing Africa with grants-in-aid and other assistance to helping with business development and investing in the private sector. This shift 'from aid to investment' is becoming increasingly clear. This year, the U.S. administration of President Donald Trump dissolved the U.S. Agency for International Development (USAID), which had contributed greatly to dealing with issues in Africa such as AIDS and poverty. The agency's projects were discontinued in July, dealing a major blow to recipient African countries. Taking advantage of the U.S. exit, China, which has continuously been providing African countries with huge loans, announced in June that tariffs on imports from 53 African countries would be set to zero. Likewise, countries such as Russia and India are aiming to deepen their ties with nations on the continent. With competition among countries intensifying, Japan's method of engaging with Africa will be tested. According to Kei Yoshizawa, senior adviser of the Africa Department of the Japan International Cooperation Agency (JICA), adverse effects from the dissolution of USAID cannot be avoided. However, he also said that U.S. aid to other countries is a type of thoughtless spending. 'Japan has continued to provide aid that encourages people to help themselves, and some efforts have resulted in new businesses being created,' he said. 'Continuing the conventional style of aid, which other countries have not been able to keep up, should be something that contributes to Japan's national interests.'
Nikkei Asia
34 minutes ago
- Nikkei Asia
Japan to strengthen ties with Africa via India, Middle East
Japanese Prime Minister Shigeru Ishiba speaks at the Economic Partnership in Indian Ocean-Africa Forum in Yokohama on Aug. 20. (Photo by Akiyoshi Sugiura) SHOTARO TANI TOKYO -- Japan's Prime Minister Shigeru Ishiba has called for closer ties between Africa and countries around the Indian Ocean and promised more investment in the region.
