FCI returned to Japan to support its member in promoting export factoringThursday 21 February 2019
FCI together with three of its Japanese members, The Mitsubishi UFJ Factors Limited, Mizuho Factors Limited , Sumitomo Mitsui Banking Corporation and Jetro, held the third instance of the New Export Nation Japan by FCI series of conferences in Fukuoka on 20 February 2019.
Fukuoka is the sixth largest City in Japan and has a large base of SME exporters.
This conference was a follow up of the two previous very successful conferences in Tokyo and Osaka last year.
There were about 70 participants. FCI was represented by its regional director, Lee Kheng Leong who presented an overview of international factoring.
According to a study by Japan’s Ministry of Economy, Trade and Industry, Japanese SME accounted for 99.7% of all enterprises, employed 70% of the work force and accounted for 50% of the gross value added.
As two factors is very suitable for SME, it will be a useful tool to help the Japanese SME exporters. Furthermore, Japan is the second largest export country in Asia . As such there is huge potential for export factoring.
Jetro is impressed with the presentations and is convinced that FCI export factoring will help the Japanese exporters to compete with other Asian exporters and hence they are looking at publishing FCI export factoring on their website with one line enquiry on export factoring. This will be forwarded to our members for follow up. This initiative will create greater awareness of FCI export factoring in Japan.