H-1055 Budapest, Honvéd utca 20. • +36 1 872-6520 • www.hipa.hu
Press Release
Budapest, 27 November 2015
Another Japanese company expanding activity in Hungary
Manufacturing, logistics and software development are the most promising fields of
investment
Dr. László Szabó, Deputy Minister of Foreign Affairs and Trade, Róbert Ésik,
president of the Hungarian Investment Promotion Agency (HIPA), and Zsanett
Ducsai-Oláh, CEO of the Hungarian National Trading House (MNKH) held
discussions on possibilities of developing Hungarian-Japanese economic relations
between the 23rd and 27th of November in Tokyo. In the course of the working
visit, several major announcements were made and agreements were signed. For
example, Mitsuba plans to expand its activity in Hungary. The HIPA and its
Japanese partner organisation, the Japan Institute for Overseas Investment (JOI),
signed an agreement on cooperation.
The Tokyo visit, organised with the participation of the Ministry of Foreign Affairs
and Trade, the Hungarian Investment Promotion Agency (HIPA), and the Hungarian
National Trading House (MNKH) between the 23rd and 27th of November 2015 in
Tokyo, was very successful.
Within the framework of the working visit, the Hungarian delegation also reviewed
further possibilities of cooperation with the international vice-president and
executives of the NEC Corporation, which develops electronic intelligent software,
personal identification software, face recognition and security systems, and has an
interest in Hungary.
The Hungarian delegation also conducted negotiations with several other Japanese
companies in relation to possible future investment. Consultations were held, for
example, with the Mitsui Soko logistics company, which opened a logistics centre in
October in Hungary. The company, which is a partner company of the Toray-Zoltek
Group established in Hungary, is also planning to supply additional companies
through the creation of a regional logistics centre in Nyergesújfalu, and to implement
further investments.
Beyond the prospective negotiations, a specific expansion was also announced:
Mitsuba Automotive Systems of Europe Kft., which is established in Salgótarján and
manufactures car windshield wipers and cleaning fluids, will expand its existing place
of business. Nissan, Audi, Honda, Volkswagen and Suzuki of Hungary are among the
buyers of parts produced by the company. The planned investment, with a value of
13.52 million EUR (approximately HUF 4.2 billion) will create 150 new jobs.
H-1055 Budapest, Honvéd utca 20. • +36 1 872-6520 • www.hipa.hu
It is also important to note that a programme serving the development of economic
relations was held at the Hungarian embassy in Tokyo, with the participation of
senior officials from the Kansai region in Japan. The industrial output of the region is
on par with that of South Korea, Thailand and Indonesia. Representatives of
Japanese companies showed substantial interest in Hungary at the very successful
event. Within the framework of the event, Kurita Hironori, chief executive officer of
Diamond Electric, which possesses a manufacturing capacity in Hungary, received a
letters patent as honorary consul, who will represent and strengthen the foreign
economic interests of Hungary in the Kansai region.
In relation to the visit, Róbert Ésik, president of the Hungarian Investment Promotion
Agency, noted that the HIPA concluded a cooperation agreement with its Japanese
partner organisation, the Japan Institute for Overseas Investment (JOI), allowing the
two institutions to mutually support each other in the future in the promotion of
investment and direct investment by Japan.
Japan is the largest greenfield investor from Asia in Hungary. There are
approximately 150 Japanese companies established in Hungary, with 47
manufacturing capacities. These companies have implemented investments in the
total value of 4.5 billion dollars and employ more than 25 thousand people.
So far the government has concluded strategic cooperation agreements with 7
Japanese companies: Alpine, Bridgestone Corporation, DENSO, Ibiden, Suzuki, Takata
Corporation, and for Zoltek.
Background
In order to most effectively promote the flow of working capital to Hungary, the Hungarian
government established the Hungarian Investment Promotion Agency (HIPA) as the legal successor of
the Hungarian Investment and Trade Office which, since the change of political regime, has been the
first government background institution that deals exclusively with investment incentives. HIPA
continues to identify potential investors through more effective operation, focused and pro-active
work and to promote their investments implemented in Hungary, and with its after-care activities
HIPA facilitates the implementation of reinvestment plans.
Further information:
Hungarian Investment Promotion Agency
Communications Department
Telephone: 36 1 872 6520
press@hipa.hu
www.hipa.hu