Global operations of Japanese information and communications technology companies are a key to boosting the country’s economic growth, the government said Tuesday.
In an annual report, the Ministry of Internal Affairs and Communications regarded ICT as an engine of Japan’s economic growth.
If ICT-related firms fully launch overseas operations, their annual sales abroad could reach ¥17.5 trillion, more than five times the current level, the report estimated.
Among Japanese companies in the industry, Softbank Corp. acquired Sprint Nextel Corp., the third-largest mobile carrier in the United States, last week.
The report said that Japan is located close to emerging economies in Asia and that the country can benefit from an expected Trans-Pacific Partnership free-trade agreement to ease restrictions on foreign companies’ entry into such growth markets.
Japanese ICT companies have the potential to take in the high growth abroad, it said.