Japan heavyweights including SoftBank eye role in $550 billion US investment package

Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST

TOKYO :Around 20 companies from Japan and the U.S. have expressed interest in projects that could contribute to Tokyo's commitment to invest $550 billion in the United States as part of a trade agreement, a factsheet by the two countries showed on Tuesday.

U.S. President Donald Trump in July agreed to implement lower tariffs on Japanese automobile imports and other products in a deal that included a commitment to $550 billion of Japanese investment in U.S. projects.

Companies interested in taking part include SoftBank Group, Mitsubishi Electric and Hitachi, according to the list of possible projects.

The list, which covers areas including energy, AI infrastructure and critical minerals, says it could represent some $400 billion in investment.

Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.


This service is not intended for persons residing in the E.U. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp’s partners.
Loading

Japan has said its investment package would include equity, loans and loan guarantees from state-owned agencies.

The list was published after President Donald Trump met with Japanese Prime Minister Sanae Takaichi in Tokyo on Tuesday, inking deals covering trade and rare earths.

Westinghouse is looking at building pressurized water reactors and small modular reactors totalling up to $100 billion, with Japanese firms such as Mitsubishi Heavy Industries, Toshiba and IHI potentially involved.

GE Vernova could build small modular reactors and supply power equipment with the involvement of Japanese companies.

SoftBank, whose founder and CEO Masayoshi Son has met with Trump, is interested in a $25 billion project to develop large-scale power infrastructure, according to the list.

Carrier could supply thermal cooling systems for power infrastructure and involve Japanese companies and Panasonic could build energy storage systems.

Other interested firms include Murata, TDK and Fujikura.

Newsletter

Week in Review

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here