Now is the time for Norwegian companies to look to Japan
‘Put simply, Japan has to import almost everything except three things: water, rice and people’. Norway has much to offer in key sectors that Japan needs. At the same time, Japan is important to Norway, not only as an export market, but also as a source of investment in Norway and as a technology powerhouse,’ says Svein Grandum.
He heads our Tokyo office, where all nine employees work to help Norwegian companies enter the Japanese market. We identify market opportunities, find suitable partners, provide strategic advisory and help companies engage with government authorities.
An attractive partner for offshore wind development
Grandum highlights several strategic areas where Norway is particularly relevant as a trading partner: green energy, seafood and aquaculture, the maritime sector, health technology, defence equipment and space.
«Offshore wind, hydrogen and carbon capture are particularly important right now. We have two employees working full-time on offshore wind.»
Seafood is the largest export category, accounting for around half of the value of Norwegian exports to Japan. In the energy sector, Japan and Norway complement each other well.
‘Japan is an advanced end market, and Norway complements it with technology and solutions across the value chain. Our experience of marine structures in harsh weather conditions from the oil and gas industry makes Norway an attractive partner for offshore wind development,’ says Grandum.
Security policy makes Norway an attractive partner
In the minerals sector, the current geopolitical landscape is driving demand. Japan needs to secure access to rare earth elements, making Norway an attractive partner. Japan has opened the door to closer cooperation with so-called 'like-minded countries'. This creates new opportunities for Norwegian companies, including in the defence sector.
– 'We are seeing strong interest in satellite-based surveillance and maritime solutions, particularly in the dual-use segment. Defence is undoubtedly one of the most exciting sectors for the future,' says Grandum.
Kenneth Olafsson heads Kongsberg Satellite Services’ (KSAT) office in Tokyo. He says the company has benefited greatly from its contact with us and the Norwegian Embassy, which share premises in Tokyo.
«We have benefited greatly from our Tokyo office and will work even more closely with the dedicated team there. For us, the value lies in working with people who understand the Japanese market and authorities, drawing on their expertise and market insight.»
Japan aims to increase self-sufficiency in aquaculture
Aquaculture is another industry where Norwegian companies can play an important role in the years ahead. Grandum explains that Japan has not industrialised its aquaculture industry to the same extent as Norway.
«Japan needs to increase its self-sufficiency in seafood. To achieve this, it needs equipment for seafood production both on land and at sea. Norwegian solutions can play a role in scaling up Japan's aquaculture industry, and we have recruited an industry expert to develop these opportunities.»
In addition to networks, knowledge and experience of the Japanese market, our Tokyo office can advise Norwegian companies on Japanese business culture. Grandum has lived in Japan for 25 years and has an in-depth understanding of the culture. He gives an example:
‘We Norwegians do not necessarily need to go through every detail before we start; we work things out as we go. The Japanese plan thoroughly, which makes the implementation phase short. Norwegian companies will benefit from preparing well and being patient, especially in the early stages,’ says Grandum.
He says that good Norwegian common sense will take you a long way when working with Japanese people, and you do not need to worry about sharp elbows.
‘Japanese and Norwegian people have in common that they are relatively reserved. It takes time to get to know each other well, and patience is key. You will never be Japanese, so be yourself and respect the way they do things,’ Grandum advises.