Japanese companies Marubeni Corporation and Sumitomo Electric Industries are investing nearly £18 billion in the UK, focusing on clean-energy industries. Marubeni plans to invest £10 billion in offshore wind and green hydrogen projects in Scotland and Wales. Sumitomo Corporation will invest £4 billion in offshore wind projects in Suffolk and Norfolk, while Sumitomo Electric Industries will build a high-voltage cable manufacturing plant in the Scottish Highlands. Toshiba will expand its Cambridge Laboratory, investing over £20 million in quantum-safe cryptographic communication solutions.
Japanese Companies Invest £18 Billion in the UK
Leading Japanese businesses have committed to invest almost £18 billion in businesses and projects across the UK. This investment will generate growth in key sectors, create high-skilled jobs, and drive technology innovation. Japan is already the UK’s 5th largest investor with £92 billion invested, and trade in goods and services between the two countries was worth £27.7 billion last year. This figure is likely to increase when the UK joins the regional CPTPP trade bloc.
Investments in Clean Energy Projects
The new investments include funding for offshore wind, low carbon hydrogen, and other clean energy projects from Marubeni Corporation. The company plans to sign an MoU with the UK government, envisioning approximately £10 billion of investment in the UK with its partners over the next 10 years. This includes investments in offshore wind in Scotland and green hydrogen projects in Wales and Scotland. Mitsubishi Estate and Mitsui Fudosan, two of the largest real estate companies in Japan, are also confirming plans to invest £3.5 billion in the UK.
Expansion of Offshore Wind Projects
Sumitomo Corporation intends to expand its UK offshore wind projects, leading to a total investment of £4 billion in projects off the coasts of Suffolk and Norfolk alongside its partners. This major investment further solidifies the UK’s status as a clean energy pioneer and supports the government’s ambition to install 50GW of offshore wind capacity by 2030. Sumitomo Electric Industries has also announced its decision to build a strategically important high voltage cable manufacturing plant in the Scottish Highlands, bringing more than £200m in investment and creating 150 highly-skilled green jobs.
Toshiba’s Expansion in Quantum-Safe Cryptographic Communication Solutions
Toshiba will be expanding operations at their Cambridge Laboratory, which is designing and delivering advanced quantum-safe cryptographic communication solutions. This expansion will create more than 30 new jobs initially and invest in excess of £20 million in new technology development.
UK Companies Investing in Japan
UK company Octopus Energy is announcing its commitment to invest £1.5 billion in the Asia-Pacific energy market by 2027, helping speed up the region’s transition to a cleaner, smarter energy system. Octopus will commit £300 million to expand its tech innovation and energy retail hub in Tokyo, enabling the business to increase its headcount tenfold by 2027 and create 1,000 green jobs for UK and local talent.
“International cooperation is the key to creating an energy transition which benefits consumers and economies as well as the climate. Our partnership with Tokyo Gas has grown ever stronger and I’m delighted to be bringing even more investment to Japan and into the UK. Linking our businesses in Australia, New Zealand and Singapore to the UK and Europe, our operations in Japan have helped create a unique global technology ecosystem benefiting everyone. I’m excited to take it even further with today’s announcement.” – Greg Jackson, Founder of Octopus Energy Group
“We are thrilled to have forged a robust partnership with the United Kingdom, and we eagerly anticipate collaborating with the UK government to unleash a surge of investment into the nation’s clean energy transition. This endeavour not only signifies our commitment to the UK’s energy transition, but also reinforces Marubeni’s role as an active participant in the global march towards a sustainable future. We are on the brink of an energy revolution, and it is partnerships like these that will help ensure our shared success.” – Masumi Kakinoki, CEO of Marubeni Corporation
Summary
Japanese companies are set to invest nearly £18 billion in the UK, focusing on clean-energy industries and creating high-skilled jobs. Major investments include Marubeni Corporation’s £10 billion in offshore wind and green hydrogen projects, and Sumitomo Corporation’s £4 billion in offshore wind projects.
- Japanese businesses commit to investing nearly £18 billion in the UK, focusing on clean-energy industries and creating high-skilled jobs.
- Marubeni Corporation plans to invest around £10 billion in offshore wind and green hydrogen projects in Scotland and Wales over the next decade.
- Mitsubishi Estate and Mitsui Fudosan will invest £3.5 billion in affordable housing, office space, and life-science laboratories in London.
- Sumitomo Corporation will invest £4 billion in offshore wind projects off the coasts of Suffolk and Norfolk.
- Sumitomo Electric Industries will build a high voltage cable manufacturing plant in the Scottish Highlands, investing over £200 million and creating 150 green jobs.
- Toshiba will expand its Cambridge Laboratory, investing more than £20 million in quantum-safe cryptographic communication solutions and creating over 30 new jobs.
- UK company Octopus Energy commits to investing £1.5 billion in the Asia-Pacific energy market by 2027, including £300 million to expand its tech innovation and energy retail hub in Tokyo.
- UK consultancy Mott MacDonald secures a contract to help develop an offshore wind farm in western Japan, capable of powering over 175,000 homes with clean energy.
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