Agreements with Japanese Organizations Will Create an Estimated 170 Jobs in Ontario
Today in Tokyo, Premier Kathleen Wynne met with leaders from across Ontario and Japan to announce new business agreements valued at $120 million that are expected to deliver 170 jobs in Ontario.
Ontario and Japanese businesses and institutions announced 15 new business agreements and partnerships, including:
- Ontario’s Centre for Commercialization of Regenerative Medicine (CCRM) signed an MOU with Japanese-based Healios to execute a series of agreements estimated at $60 million. The agreements between CCRM and Healios will create opportunities for technology transfer and licensing, cooperation on clinical trials, manufacturing and training across Japan and Ontario
- Futaba Industrial Co. Ltd. is investing more than $50 million to expand their plant in Stratford, Ontario. The investment will equip the plant with new hot stamping machinery imported from Japan
- McMaster University, Centennial College and Seneca College signed a total of six MOUs with Japanese academic institutions, demonstrating the regions’ common commitment to postsecondary education, research excellence and innovation.
Premier Wynne further promoted opportunities to expand economic partnerships between Japan and Ontario during a keynote speech to senior business leaders and investors at an economic luncheon organized by the Canadian Embassy in partnership with the Canadian Chamber of Commerce in Japan.
The Premier also spoke at a networking event where MaRS signed its first-ever international agreement in the fintech sector with NTT DATA. The partnership will provide a new platform for Canadian startups seeking market opportunities in Japan. MaRS will be NTT DATA Inc.’s first partner under its Global Open Innovation Business Contest, an innovative initiative to address global economic issues by aligning with innovation hubs and accelerators that scout promising new technologies.
Investments in automotive technology, research and manufacturing drive economic growth in both Ontario and Japan. The Premier visited Subaru and Honda headquarters in Tokyo to look for ways to support auto sector innovation and help both markets remain competitive globally. At Honda, Premier Wynne also met Honda’s ASIMO, the world’s most advanced humanoid robot.
While in Tokyo, the Premier met with executives from Sumitomo Precision Products to promote Ontario’s leadership in the aerospace industry and discuss future opportunities for partnership.
Building new international partnerships and helping Ontario’s businesses compete globally are part of our plan to create jobs, grow our economy and help people in their everyday lives.
- Canada’s leader in greenfield foreign direct investment, Ontario businesses received more than 70 per cent of greenfield Japanese investment in Canada from 2006–2015.
- In 2015, Ontario’s auto sector contributed over $15.6 billion to the province’s GDP and employed more than 103,000 people in the auto sector.
- Honda has its Canadian headquarters in Ontario and made its Ontario location a teaching plant for the manufacturing of Civics for all other Honda facilities worldwide.
- Ontario has one of the world’s most vibrant aerospace industries — more than half of the top 25 firms are here, including Airbus, Bombardier and Mitsubishi.
- Sumitomo Precision Products opened its new global aerospace division headquarters in Mississauga in 2013, investing $50 million.