“The global business landscape is changing and companies are responding to the shifts we are seeing,” explained Shinichi Takahashi, partner, Japan Business Services at Ernst & Young Hua Ming LLP.
Japanese companies in China that are active in manufacturing, technology, new energy and e-commerce are transforming their operations, processes and digital solutions with the help of “EY China” (the EY member firms in the China region).
EY China has over 30 offices and over 200 Japanese-speaking professionals to support Japanese companies in China.
EY China’s Japan Business Services supports compliance (accounting, tax, import/export, digital securities), mergers and acquisitions (joint ventures, restructuring) and growth strategies (market entry and location analysis, local government incentive assessment and DX, or digital, solutions).
“The relationship between China and Japan is becoming more mature and interdependent,” Takahashi said.
“China has a growing market and strong capital reserves while Japan’s world-class technology is driving industries such as semiconductors, automotive and medical equipment. Japanese companies are hiring highly educated, capable students with international experience and language skills.”
Japanese companies are becoming more agile in terms of new developments, technologies and products to compete with local Chinese competitors.
“Cross-border mergers and acquisitions are increasing and Chinese companies acquire Japanese companies with advanced technologies,” Takahashi explained.
“Trade today covers products and intellectual property and Japanese companies are establishing research and development centers in China and contributing to the acceleration of China’s development.”
Environmental, social and governance initiatives are also creating growth opportunities. EY China is working with the Shanghai government to support the Shanghai International Carbon Neutrality Expo as well as digital strategies to help companies optimize operations.
“Working in China is exciting and people are energetic and enthusiastic,” Takahashi said.
“EY’s role is to help clients understand challenges, plan strategies and bring ideas to the implementation stage. We are connected with EY clients and Wavespace, an initiative of EY teams to bring people together to brainstorm challenges and share ideas and solutions.”
“We are proud of EY China connections and cooperation with local governments and as EY continue to build (its) network, we will act as EY clients’ eyes and ears and lead them to the right decision.”
