BEYOND EXPO 2024 | Japanese companies thrive on innovation and seek synergies with China

Well-known Japanese technology companies including Sony and Fujifilm on Thursday showcased their latest products and business solutions at the BEYOND EXPO 2024 technology conference in Macau, expressing their hopes for future cooperation with China.

His public appearance at one of Asia’s biggest technology events is the latest example of how the world’s fourth-largest economy is not only looking to continue its tradition of tech innovation but also to evolve into a hub for entrepreneurs and startups.

“Japan has implemented various policies to support overseas startups, including substantial subsidies for research and development,” said Yuya Makino of the Japanese Consulate General in Guangzhou during the event. According to Makino, Asian economies have a gross domestic product of over $4.2 trillion and have also seen a dramatic increase in venture capital investment over the past few years.

“I think over the last 15 to 20 years or so, Japan has been overtaken by markets like China, India and Southeast Asia, but now there’s enough momentum in both the private and public sectors to boost innovation in Japan. That’s the big thing we’re starting to see in Japan,” Akio Tanaka, partner at investment firm Headline VC, told the audience.

Meanwhile, Jie He, head of the China office of Tokyo-based venture capital firm Global Brain Corp., said many large Japanese companies are considering continuing to invest in China to maintain their presence in the country given its huge population and huge potential. For example, Kenichi Okada of the Hong Kong Consulate-General said some companies are looking at the Greater Bay Area (GBA) of Guangdong province, Hong Kong and Macau for business potential because of its huge population.

Below are some of the innovative initiatives announced by companies at the Japan Tech Forum: This year’s BEYOND EXPOIt will be held in Macau from May 22nd to 25th.

Sony The company introduced a project using haptic technology for entertainment embodied in the form of flooring, and said that walking on the flooring provides users with a realistic and fascinating sensation of different walking terrains. The company’s engineers have packed sensors and motors into the flooring to enhance the experience. It can mimic deserts and ice to create immersive and interactive experiences in theme parks, museums and live music venues.

According to Sony China Co., Ltd. Executive Vice President Mikio Takenaka, the company has extensive and detailed research and development plans for China, ranging from entertainment to mobility to elderly care.

Fujifilm The company has pursued technological innovation with an open mindset. Shi Yonghua, corporate communications director at Fujifilm (China) Investment Co., Ltd., said the Japanese company established an open innovation hub in 2014, hoping to create value “together with business partners to illuminate the future.” One of the hub’s examples is the joint development between Fujifilm and Daikin. By using Fujifilm’s ventilation soundproofing material, the Japanese air conditioner manufacturer succeeded in reducing the operating noise of its products by more than 20%.

A similar organization was established in Shanghai in 2020 and last year partnered with ReGACY Innovation Group to launch Fujifilm’s first innovation program in China to accelerate technology-driven business development.

A chemical manufacturer headquartered in Tokyo Asahi Kasei The company announced a new optical transparent resin called “AZP” that has optical properties that cannot be achieved with existing transparent resins. It is expected to be a next-generation material to replace optical glass. AZP lenses are used in VR (virtual reality) headsets, where polarized optical bending widens the field of view and enables the headset to be made smaller. It reduces ghosting and flare, improves contrast, and minimizes the effects of birefringence to provide a clear field of view.