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News 01.07.2020

Sumitomo Mitsui Banking Corporation and Business Finland sign MoU to boost investment and collaboration

Japanese megabank Sumitomo Mitsui Banking Corporation (SMBC) and Business Finland have signed a Memorandum of Understanding (MoU) to boost investment and business collaboration between Japan and Finland. The MoU was signed on 19 June 2020 by Hirofumi Otsuka, Executive Officer and General Manager, SMBC, and Commercial Counselor Pekka Laitinen, who heads Business Finland’s operations in Tokyo.

According to SMBC, the MoU with Business Finland will enable more intensive business matching between the bank’s corporate customers and Finnish companies as well as increasing investment and collaborative opportunities between Japan and Finland.

“I believe that Finland has various advanced technologies and know-how to offer. By bringing together Finland’s innovative and forward-looking approaches and Japan’s unique technical strengths, contributions can be made to the resolution of social and economic issues in both countries with a view to the post-COVID-19 future. It is my hope that the MoU will increase opportunities for Finnish and Japanese companies to join forces and develop the future together,” says Masahiko Oshima, Deputy President, Head of Global Business Unit, SMBC.

Creating new success stories

Business Finland and SMBC have worked together over the past two years, focusing mainly on the healthcare sector and co-hosting investment seminars on the Finnish digital health ecosystem.

“SMBC is actively tapping into the investment and new business development needs of the many Japanese companies that are its clients. I expect that this MoU will boost the deal flow between Japan and Finland, and become a source of future success stories,” says Eiji Atsumi, Invest in Finland’s Tokyo Representative.

Excellent prospects to expand cooperation

The MoU will enhance Business Finland’s and Finnish companies’ access to the critical needs of SMBC’s Japanese client companies, and improve the Japanese companies’ access to the digital health services and personalized solutions offerings of Finnish medical technology companies, according to Nora Kaarela, Head of Industry, Health and Wellbeing, Invest in Finland.

“We have already generated valuable investment and collaboration opportunities for the Finnish healthcare industry. The MoU will ensure post-COVID opportunities between Japan and Finland in the healthcare and other sectors,” says Kaarela.


Contact us

Head of Industry, Health & Wellbeing

Nora Kaarela

+358 400 897 020

Health & Wellbeing

Senior Advisor

Eiji Atsumi

+81 2 6432 5276

Tokyo, Japan