Fonterra planning to invest in Japan

Kyodo

New Zealand’s largest dairy cooperative, Fonterra, is planning to invest in Japan, a Japanese vice minister said Tuesday after meeting with visiting New Zealand Minister for Economic Development Steven Joyce.

Yasutoshi Nishimura, senior vice minister in charge of economic and fiscal policy, said he has been informed of Fonterra’s plan and believes the investment will be in the sector of dairy products or foodstuffs.

Fonterra executives will likely visit Japan at the end of September, and Nishimura said he looks forward to “exchanging opinions.”

Nishimura said he expects increased cooperation between the two countries in light of the economic revitalization policy, dubbed “Abenomics,” being pushed by Prime Minister Shinzo Abe’s administration, which includes strategies for inviting foreign investment.