We want Japan's young entrepreneurs
Plans are underway to bring Japan's best and brightest entrepreneurs to Greater Cincinnati – a move that could lead to new jobs here and build on a strong economic development relationship the region already has with Japanese companies.
University of Cincinnati President Santa Ono, Cincinnati City Councilwoman Amy Murray and former Procter & Gamble CEO Bob McDonald have had initial discussions about developing a partnership between Greater Cincinnati's burgeoning startup incubators and leaders in Japan.
"What can we do to help bring some Japanese entrepreneurs here through the Brandery or different groups?" Murray said. "When we do trade missions to Japan, it's usually for (recruiting) business. But this gives us a different opportunity – to do a mission there targeting entrepreneurs and students who may not know about strong (entrepreneurial) programs we have at UC, Xavier and Miami University. We are going to move forward with this."
Japanese political and business leaders spoke to Greater Cincinnati business, higher education and civic leaders at Xavier University on Tuesday about various aspects of Japan's relationship with the U.S. The group, including Ichiro Fujisaki, former Japanese ambassador to the U.S., is visiting Midwest cities this week at the request of Japanese Prime Minister Shinzo Abe to help improve Japan-U.S. relations.
The message is clear: Japan is lagging in training entrepreneurs, specifically women, and leaders are longing for partnerships in the U.S. to help young Japanese citizens develop their ideas.
More than 120 Japanese-owned businesses already employ more than 12,000 people in Greater Cincinnati – a strong presence that will survive even the exit of Toyota's North American manufacturing headquarters from Erlanger in two years.
Cincinnati, meanwhile, is home to the most Japanese-owned companies in Ohio, with 34 inside the city limits, according to data from Japan's Consulate-General in Detroit.
"People in Japan are looking at the Silicon Valley" almost exclusively for entrepreneurial support, said Yukiko Nakamura, a longtime entrepreneur and business owner based in Tokyo. Until recently, she said, "I had never heard that Ohio has such a total incubator system. There is a huge opportunity here."
Nakamura told about 100 people Tuesday that Japanese women entrepreneurs have to look outside their country for opportunities because they "can't borrow money from banks." She did not provide a specific reason. Councilwoman Murray – a business consultant who lived in Japan while working for Procter & Gamble – said she, Ono and McDonald plan to drum up interest to develop a partnership. McDonald once headed P&G's operations in Japan.
Kazuyuki Katayama, the consul-general of Japan in Detroit, who oversees his nation's relations with Ohio, said he views Ono as a key figure to help bring Japanese entrepreneurs to Cincinnati and the state. In December, the Japanese government named Ono an honorary consul of Japan for Ohio. He is on the advisory board of Ohio's Third Frontier, the economic development initiative that funds promising technology startups, universities and research labs.
"I hope that you will go back to Japan and spread the word that – whether you're a boy or girl – this is a destination for where you can learn entrepreneurship," Ono told the Japanese leaders. ⬛
Local companies, Japanese roots
More than 120 Greater Cincinnati businesses have Japanese parent companies.
A sampling of some of the largest:
• ADVICS Manufacturing Ohio Inc. (Lebanon): Automobile brakes
• American Showa Inc. (Blanchester): Automobile parts
• Amtex Inc. (Lebanon): Automobile interiors, trims
• Fujitec America Inc. (Lebanon): Elevators, escalators, autowalks
• Kao Brands Co. Inc. (Cincinnati): Soaps, cosmetics, skin care products
• Makino USA Inc. (Mason): Machine tools, systems
• Mazak Corp. (Florence): Precision machine tools
• Misa Metals Inc. (Middletown): Coil metal processing
• Mitsubishi Electric Automotive America Inc. (Mason): Automotive electric, electronics parts
• Mitsui Sumitomo Marine Management (U.S.A.) Inc. (Cincinnati): Property, casualty insurance
• Pacific Manufacturing of Ohio Inc. (Fairfield): Metal stamping products for autos
• Pioneer Automotive Technologies (Springboro): Car stereos, amplifiers
• Sumitomo Machinery Corp. of America (Mason): Power transmission products
• Takumi Stamping Inc. (Fairfield): Metal stamping products for autos
• Toyota Boshoku America (Erlanger): Automotive parts, interiors
• Toyota Motor Engineering & Manufacturing North America (Erlanger): Engineering, design, R&D
• Toyota North American Parts Center Kentucky (Hebron): Parts warehousing, distribution
• Toyota Tsusho America Inc. (Florence): General trading, parts
Source: Japan America Society of Greater Cincinnati