Body to help midsize firms expand abroad


The government plans to set up a body to help midsize firms expand abroad and contribute to the domestic economy.

The plan will be included in Prime Minister Shinzo Abe’s growth strategy when it is finalized in June, informed sources said Saturday.

While the Ministry of Economy, Trade and Industry and the Japan External Trade Organization will take the lead in establishing the new body, municipalities, regional banks and the government-backed Development Bank of Japan are expected to help, they said.

The body will be designed to consolidate existing advisory, staffing and other services provided separately by prefectural governments, regional banks and other organizations to help firms eager to expand into growing markets.