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Manila Bulletin devider Business devider The Economy devider Sumitomo Mitsui to bring in more Japanese investors to Philippines—DOF

Sumitomo Mitsui to bring in more Japanese investors to Philippines—DOF

Published Aug 15, 2025 03:15 pm
Japanese financial services giant Sumitomo Mitsui Financial Group (SMFG) assured the Philippine government that the country’s manufacturing sector will benefit from deeper bilateral relationship as it intends to attract more investors from Japan.
“SMFG conveyed its intent to bring in more Japanese investors, particularly in manufacturing, to expand operations and create more high-quality jobs in the Philippines,” the Department of Finance (DOF) said in a statement released on Friday, Aug. 15.
This comes alongside the Japanese company’s acknowledgement for the DOF’s continued backing.
Two days ago, Finance Secretary Ralph G. Recto met with SMFG officials to discuss how the relationship between the Philippines and Japan could be strengthened. Job creation was among the major discussions during the talk.
According to the DOF, SMFG President and Group Chief Executive Officer (CEO) Toru Nakashima expressed his “confidence in the Philippines, touting it as one of its most important business partners.”
For his part, Recto “committed to doing the necessary handholding to help investors with any concerns.”
Recto also said the Philippines’ young and “highly skilled” workforce would complement Japan’s demographic profile.
In June last year, Recto met with Sumitomo Mitsui Banking Corp. (SMBC) and SMBC Nikko senior executives for potential investment opportunities and deals in the country’s financing initiatives.
SMBC had shown keen interest in supporting the Philippines’ future issuances of samurai and United States (US) dollar bonds.
Manila Bulletin asked Recto regarding developments on the issuance of yen-denominated bonds, but he did not reply.
SMBC has a track record of supporting the Philippines in international financing, including previous samurai bond issuances.
To recall, the Philippines last accessed the Japanese debt market in April 2022, when it raised 70.1 billion Japanese yen (approximately ₱28.6 billion) through a four-tranche issuance.
For next year, the country’s borrowing mix will be 77-percent domestic and 23-percent external. The share of foreign borrowings for 2026 will be than this year’s 19 percent.
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