Bank of the Ryukyus cooperates with Asison to support and enhance its activities in Asia

November 15, 2011 Ryukyu Shimpo

In order to support and enhance Okinawan companies’ activity in Asia, Bank of the Ryukyus (President Isao Oshiro) has concluded an advisory contract with Asison Inc. (Tokyo, President Shigehiro Aihara), an external consultancy specializing in employment introductions in Asian countries. Seeking to benefit from Aihara’s experience, the Bank of the Ryukyus hopes to help prepare the way for companies to expand their businesses overseas, including into Shanghai and Hong Kong in China, and Thailand and Singapore.

President of the Bank of the Ryukyus Isao Oshiro states that support for local companies’ business efforts in Asia is one of its most important strategies, and they will commence this from December. The bank has already established ties with the DBJ Asia Financial Support Center of the Development Bank of Japan and the Kasikorn Bank PCL, the major bank in Thailand. The bank also has dispatched staff to the Japan External Trade Organization (JETRO) in order to create a network.

Collaborating with Asison, Bank of the Ryukyus will deal with clients’ approaches based upon advice they receive from President Aihara. Furthermore, they intend to further lift effectiveness by providing information on Asian politics and economics, holding study meetings for employees, and by setting up Asian business meetings.

During his many years living in Hong Kong, Aihara worked as the president of Japanese-language school, was a board member of the Japanese recruitment firm Pasona Asia Co., Ltd, as a president of the Japanese language newspaper the Hong Kong Post and is currently a trade advisor for the Hong Kong Trade Development Council. He is familiar with Okinawa through his experience holding seminars there on Asian business.

The spokesman explained, “There are many people who don’t know where to go for help and what to start with to make inroads into the Asian market, so we think there is a potential demand for this service. We are building a framework for those who have questions so they can visit our bank for assistance.”

As a new strategy for growth, the Japanese government intends to expand the business activities in Asia of small and medium-sized Japanese businesses, and in that context, it is pushing ahead with assistance for financial institutions.

(English Translation by T&CT, Shinako Oyakawa and Mark Ealey)

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