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News Release

JRI concludes “Cooperation Agreement on Japanese-style Agriculture Projects in China” with The Mie Bank, Ltd.

August 2, 2011

 The Japan Research Institute, Limited (Head office: Chiyoda-ku, Tokyo; President: Yasuyuki Kimoto; “JRI”) and The Mie Bank, Ltd. (Head office: Yokkaichi-shi; President: Junji Tanehashi; “Mie Bank”) on July 28, 2011 (Thursday) concluded a “Cooperation Agreement on Japanese-style Agriculture Projects in China” with a view to supporting the efforts of agriculture- and food-related companies with outstanding technology and know-how to establish operations in China.

1. Date of agreement: July 28, 2011 (Thursday)
2. Content and purpose of agreement:
 As a new method for revitalizing Japanese agriculture, JRI is promoting global expansion on the basis of a “local production-local sale” model in which Japan’s outstanding agricultural techniques and know-how are made available and agricultural products grown by local farmers are sold on local markets, mainly targeting newly developing countries where the rapid growth of the affluent classes that has accompanied economic growth has led to a rise in demand for high value-added agricultural products and foods.
 The “Cooperation Agreement on Japanese-style Agriculture Projects in China” concluded with Mie Bank involves validating this model in collaboration with the Suzhou Taihu Lake National Tourism Resort Area Management Committee of Suzhou City in China’s Jiangsu Province, and the Zhangjiagang Modern Agriculture Model Zone Management Committee of Zhangjiagang City, also in Jiangsu Province, which have a collaborative relationship with JRI. Specifically, Mie Bank will use its local networks to introduce agriculture- and food-related companies that are interested in establishing operations in China to JRI, and JRI will negotiate with the Chinese organizations. JRI will also support global development by supplying local information and proposing business models to the companies concerned, among other measures.
 To agriculture- and food-related companies producing high-quality agricultural products and processed foods, of which there are many in Mie Prefecture and surrounding areas, global expansion is a way of gaining new income-earning opportunities. Establishing local subsidiaries allows them to earn income from sales and dividends, etc.; providing technology to local agricultural producers allows them to earn income from licensing fees without actually establishing local operations.
 Unlike exporting agricultural products to Japan as cheap raw materials, the proposed model is also expected to benefit agricultural producers in newly developing countries by helping to improve production technology and allowing the development of new local brands in collaboration with Japan. JRI will be promoting this model, which departs from conventional business models in that it combines revitalizing Japanese agriculture with making an international contribution, in collaboration with Mie Bank.

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