The government plans to establish a public-private entity this fall with the aim of promoting exports of “anime,” fashion and other goods under its Cool Japan initiative, informed sources have said.
With the Cool Japan promotion being one of its key policy measures, the government of Prime Minister Shinzo Abe intends to nurture related businesses and have them grow into major export industries.
In its fiscal 2013 draft budget, the government has set aside ¥50 billion in capital for the new entity.
To run it, the institution will pull in experts in content industries and overseas marketing, the sources said. When selecting target projects for support, it will take into account profitability and potential ripple effects, the sources said.
The public-private body will mainly promote the export of various goods to major cities in emerging parts of Asia, capitalizing on the growing demand there, the sources said.
For example, it may support projects to set up shopping malls that will feature stores selling Japanese items, the sources said.
In emerging economies, interest in foreign culture among consumers tends to grow as their living standards improve, said an official from the Ministry of Economy, Trade and Industry, which is in charge of promoting the Cool Japan campaign. “We hope to foster the brand power of Japan,” the official said.