Keizai Doyukai meets the IoDs Japan Group a platform to connect, develop and influence the trade business between the UK and Japan.
The Keizai Doyukai (the Japan Association of Corporate Executives) delegates met at 116 Pall Mall on the afternoon of 20 February with the small and medium-scale industry sector leaders, hosted by the Institute of Directors Japan Group, a panel under the International Trade Group for a roundtable discussion.
The delegation of business leaders actively involved in the dialogue exchanged information and opinions on a range of everyday social and economic challenges specific to irreversibly progressing transformations like Green Transformation and Energy Transitions, pressures on energy transitions accelerated by the geopolitical crisis in Ukraine.
Discussion focussed on Japan and the UK economy; both strive to achieve the 2% target regarding inflation. Although the members of the Institute of Directors’ confidence in the UK economy improved in January 2023, inflation, EU and politics still weighed heavily. Like the UK, Japan’s economy everted recession. Still, it rebounded much less than expected in the fourth quarter as business investments slumped, a sign of the central bank’s challenge in phasing out its massive stimulus programme.
The leaders discussed UK’s progress in green transformation, energy transitions and how government policies and industry’s technological innovation are responding to the shifts. The delegates discussed the sentiments concerning the internal prices of energy and supply chain problems affecting the UK and Japan. Trends and drivers in the green and energy transformation markets, how companies from the UK and Japan are positioned to take advantage of them, the risk associated with not transforming operations to be more sustainable and energy efficient, and the potential cost of those risks were discussed. Engaging and educating the stakeholders, including employee customers and investors, about the benefit and importance of a Green and Energy transformation seemed vital to progressing and accelerating the transformation effort and achieving the sustainability goals in the two countries. Delegates believed the potential challenges and trade-offs associated with Green and Energy transformation and how we can mitigate them was more important to be thought approachable.
Mr Osamu Mogi, Chair of the International Affairs Committee and delegation lead from Keizai Doyukai, stated – “It was a pleasure to be here in London and able to promote high-level discussion with business leaders in the UK.”
Dr Indranil Nath welcomed the delegates and stated –