Proactive Investors - UK Prime Minister Rishi Sunak has unveiled investment from Japanese firms in the UK worth up to £17.7bn.
Hosting a business reception attended by bosses of companies including Nissan (TYO:7201), Toshiba (TYO:6502) and Mitsubishi (TYO:8058), Sunak hailed “a massive vote of confidence in the UK’s dynamic economy from some of Japan’s top firms”.
Japan is already the fifth largest investor in the UK, with investments worth £92bn.
Among the new investment is funding for offshore wind, low carbon hydrogen and other clean energy projects from Marubeni (TYO:8002), a trading conglomerate. The projects will include offshore wind in Scotland and hydrogen energy projects in Wales.
Mitsubishi Estate (TYO:8802) and Mitsui Fudosan (TYO:8801), two of the largest real estate companies in Japan, are also confirming plans to invest £3.5bn in the UK, building offices, housing and life sciences laboratories.
The PM is in Japan for his first G7 summit of world leaders at which he is expected to announce a new defence partnership with the country.