Investment Hotspot

Victoria continues to win significant investments in biotechnology, ICT, automotive, financial services, aerospace, food processing and packaging, and service centres. Here are some examples of recent Japanese-Victorian partnership and investment.

NEC is investing A$70m to develop a new broadband research and development centre in Victoria, creating 63 new high-tech jobs. The new centre will be Australia’s largest privately-owned ICT R&D centre and NEC’s largest R&D centre outside of Japan. A KPMG economic impact analysis found the centre will generate an additional 230 jobs across the sector and a further A$17m annually for the Victorian economy.

International Power Plc and Mitsui have formed a 70-30 partnership to acquire the assets of Edison Mission Energy (a US company), including a number of Australian upstream energy operations. Edison’s Australian assets include 70% of the 1000MW coal-fired generator Loy Yang B in Victoria, and 42% of the adjacent 300MW natural gas fuelled Valley Power peaking station. Mitsui & Co is a major Japanese trading company which earlier this year acquired 5.5% of Loy Yang A through a small stake in the Australian Gas Light (AGL) led consortium, the Great Energy Alliance Corporation (GEAC).

Toyota’s 2004 Camry range: the company plans a A$48m Asia Pacific R&D centre in Melbourne

Tokyo Electric Power Company (TEPCO) also made its first investment into Victoria as part of the same AGL-led consortium to purchase Loy Yang A Power for A$3.5bn.

Aisin Australia has made a A$5.5m investment to develop a new plant to manufacture door frames for the Toyota Camry.

A union between Victorian optical communications company CEOS and Japanese electronics giant Hitachi aims to deliver new Passive Optical Network (PON) technology, making ultrabroadband service delivery an affordable reality.

Toyota Motor Corporation Japan plans to develop its Toyota Technical Centre Asia Pacific Australia in Melbourne, with an initial investment of A$48m. The centre is expected to employ around 100 staff.

NEC’s new R&D centre in Victoria will be the company’s largest outside of Japan
(Picture: NEC Corporation)

Suntory has worked with Australian company Florigene to develop the world’s first biotechnology-driven blue roses.

Herbworx Pty Ltd, a Victorian biotech company specialising in innovative and clinically proven herbal products, has signed an agreement with Nissho Iwai, one of Japan’s major trading companies, to assist marketing its products in Japan. Neurosciences Victoria (NSV) has also signed an agreement with Nissho Iwai, which will act as NSV’s exclusive agent in Japan.

Victoria’s Stem Cell Sciences Co Ltd – the only company to offer fully-characterised stem-cell lines to researchers for free – has formed Japan’s first dedicated embryonic stem cell company, SCS KK, in partnership with Sosei Co Ltd.

This small sample shows the depth of the ongoing relationship between Japan and the state of Victoria – the sister state of Aichi Prefecture.