[Event Report] Reuters NEXT 2024: Unlocking the Potential of Japan's Market

At Reuters NEXT 2024 in New York, global leaders gathered to discuss the challenges and opportunities shaping today's markets. A key panel hosted by JETRO (Japan External Trade Organization) focused on the global investment landscape, featuring insights from top executives in the battery and semiconductor industries.

As businesses navigate rising geopolitical uncertainty, global diversification and collaboration are providing essential to sustaining growth. Dr. Siva Sivaram, President and CEO of QuantumScape, a pioneer in solid-state battery technology for EVs, emphasized the importance of international expansion in meeting the escalating demand for advanced batteries. "The need for batteries is growing [globally]," Sivaram stated. He highlighted how batteries are "foundations on which multiple industries are going to be built," adding, "and Japan for us is one of those pillars to build on."

Audrey Charles, Senior Vice President of Corporate Strategy at Lam Research, a leading provider of semiconductor manufacturing solutions, shared how the semiconductor industry, which is projected to reach $1 trillion in demand by 2030, also requires a global footprint. "Semiconductors are powering transformations like generative AI and smart mobility," she said, underscoring the necessity of a global approach to meet this growth.

Both executives pointed to Japan as a key market for emerging industries. Sivaram cited Japan's "stability and strong public-private partnerships" as essential factors for success, specifically referencing Kyoto's established battery industry infrastructure and access to top university talent as key reasons QuantumScape chose the city for its first Asia-based hub in 2022.

Lam Research, with a presence in Japan since the 1990s, has seen the country evolve into a key semiconductor innovation hub. Charles highlighted government support and ecosystem development leading to a number of their global customers expanding operations in Japan and strengthening the industry, remarking that "while this is happening in multiple regions, it is [especially] notable in Japan."

Director-General of JETRO's Innovation Department, Takeo Nakajima, shared compelling data to reinforce Japan's investment potential, noting that 61% of foreign-invested enterprises surveyed plan to expand their operations in the country. He further emphasized Japan's global competitiveness, stating that it now ranks among the top nations for foreign direct investment.

JETRO Chairman and CEO, Norihiko Ishiguro, encouraged global companies to explore Japan's market, pointing to its stability, innovation, and talent mobility. He noted that in a fragmented global trade landscape, Japan's safety and technological strength are increasingly attractive. Ishiguro closed with an invitation to forward-thinking executives and a call to action: "Invest in Japan! Talk to JETRO First."

The panel concluded with a unified message: Japan offers unparalleled opportunities for companies aiming to lead in emerging industries. With its advanced infrastructure, skilled talent, and government support, Japan serves as a gateway to innovation and global growth.