On May 17 (local time), Fosun held the 2019 Sino-Japanese Business Forum and Fosun’s Tokyo Night event with “Innovation, Cooperation for Mutual Benefits and Accelerating Development” as its theme at Palace Hotel Tokyo, in the vicinity of the Imperial Palace in Tokyo, Japan. The event aims to further promote Sino-Japanese win-win cooperation and to accelerate Fosun’s positioning in its healthcare, innovation and happiness business segments in Japan following the commencement of the new imperial era of Reiwa.

The event attracted an attendance of over 250 representatives from Chinese and Japanese governmental departments, banks, securities, asset management, manufacturing, medical and pharmaceutical enterprises. Speakers including Yoshimasa Hayashi, chairman of the Japan-China Friendship Parliamentarians’ Union and former Minister of Education, Culture, Sports, Science and Technology of Japan; Song Yaoming, Minister for Economic and Commercial Affairs at the Embassy of the People’s Republic of China in Japan; Takatoshi Nishiwaki, Governor of Kyoto Prefecture of Japan; Tatsuo Yasunaga, President and CEO  of Mitsui & Co., Ltd. (“Mitsui”); Yoshihide Esaki, Deputy Director-General for Healthcare and Medical Policy, Ministry of Economy, Trade and Industry & Cabinet Secretariat, Government of Japan; Wang Wei, Chief Representative of the Chinese Tourism Representative Office in Tokyo of Japan; Jun Hirasawa, Executive Officer and Regional CEO for China, and President of Marubeni (China) Co., Ltd.; Takeshi Sano, Hospital Director of the Cancer Institute Hospital of JFCR; and Prof. Kazunori Kataoka, Director General at Innovation Center of NanoMedicine and Professor of Policy Alternative of the University of Tokyo.

As part of his keynote speech, Yoshimasa Hayashi, chairman of the Japan-China Friendship Parliamentarians’ Union and former Minister of Education, Culture, Sports, Science and Technology of Japan, said, “Sino-Japanese strategic relationship of mutual benefit is the keyword for, and will promote the further development of, the bilateral relations between the two countries. As of now, Japan and China are respectively ranked second and third globally in terms of their GDP, and the positive development of Sino-Japanese ties has a particular significance for the Asian-Pacific region and Asian countries. The economy of each of the two countries has now entered a new era: innovation lies at the heart of their momentum for development. We need to enhance our technological cooperation with each other for driving the development of our upcoming economic cycle.”

Song Yaoming, Minister for Economic and Commercial Affairs of the People’s Republic of China in Japan, highlighted the following in his speech, “Currently, Sino-Japanese relations are back on the right track with the achievement of new progress, characterized by a constant escalation of the economic and trade cooperation between the two countries. Discussions conducted at this forum will be centered on such topics as Sino-Japanese ties, the cooperation between the two countries in pharmaceutical, healthcare and innovation areas, as well as tourism and cultural collaboration between the two countries, it is evident that the event is being held at an opportune moment. I believe that this forum will definitely play a positive role in deepening the economic exchanges and collaboration between both countries, unleashing the potential inherent in new technologies and new models, as well as fostering the innovation-based cooperation among Chinese and Japanese enterprises.”

High-level Dialogue

Fosun International’s Chairman Guo Guangchang, and Mitsui’s President and CEO Tatsuo Yasunaga were engaged in an inspiring & insightful dialogue during the event. In-depth discussions surrounding such topics as the future development and positioning of Fosun and Mitsui in terms of innovation and technology, the corporate actions to be taken for tackling the current global economic environment, as well as the ways in which the stable, prosperous development of the two countries can be fostered.

Guo Guangchang said, “Fosun has always attached great importance to technology and innovation, especially in the medical and pharmaceutical areas. Under this light, we have been constantly stepping up our dedication to and investments in these areas for over a decade, and Henlius, the first domestically developed biosimilar to receive permission for marketing in China, has already submitted a listing application to the Stock Exchange of Hong Kong. In its course of innovation, Fosun will also augment its collaboration with global enterprises. For example, we have formed a joint venture in China with an American enterprise in the area of CAR-T technology, and have collaborated with the American da Vinci robotic surgical system in China in the robotic surgery area. These two collaborative enterprises have fared exceptionally well, and we hope that there will be more cooperation with Japanese enterprises regarding innovation.”

While suggesting how the cooperation among Chinese and Japanese enterprises can be fostered for the achievement of mutual benefits and for contributions to the development of both countries, Guo Guangchang said, “I feel that the best cooperation is all about finding local partners of cooperation. We would call this “Glocal” - which is the combination of “Global” and “Local” - given that Fosun has already established its operations in more than 30 countries and regions around the globe. At Fosun, we have in place a system of global partners, who are not solely based in China but may also come from Japan, France or Portugal. An example of them is Takuya Yamada, who is the Vice-chairman and CEO of IDERA. As such, it would be advisable for a Japanese enterprise wishing to pursue development in China to succeed in finding a Chinese cooperative partner, and Fosun would be most willing to become a partner of these enterprises in relation to their growth in China. Besides, we are also very grateful to our cooperative partners from Japan such as Mitsui, Marubeni, Hoshino, and the Cancer Institute Hospital of JFCR. Whether in connection with our development in Japan or in China, each of them has offered significant support and assistance to Fosun.”

“Going forward, Fosun aspires to be engaged in more cooperation with Japanese enterprises, first and foremost in the healthcare sector. The total size of the Chinese pharmaceutical market is 4 or 5 times that of the Japanese counterpart. Should Japan’s innovative drugs be based on the Chinese market in future, the implication would be that, after taking into account the local Japanese market, the amount of the innovative pharmaceutical research conducted in Japan could be increased by 4 or 5 times - and that would already happen with the sole additional focus on the Chinese market.

“Therefore, I feel that Japanese enterprises enjoy a huge room for pursuing China-related development, and we are willing to enter into cooperation with more of them so that these development potentials can be transformed into tangible benefits. Secondly, in terms of tourism, Japan and China share resemblances in that we have similar cultures and spending habits, and many Japanese products are hugely popular among Chinese people. There are a large number of good product platforms in Japan: if interactions relating to fashion, IP, and culture (e.g. Yayoi Kusama exhibitions) could be further boosted going forward - especially the creation of increased interactions and communication among young people, tremendous benefits would definitely be reaped by both countries.”

President and CEO of Mitsui Tatsuo Yasunaga was in complete accord with those comments, “China has now become the world’s second largest economy. Boosting Sino-Japanese collaboration would be conducive to fostering the economic development of both countries, and would play a significant role in enlarging the mutual benefits of both sides. Going forward, we believe that a win-win-win situation could be achieved through the integration of the strengths of China and Japan, as well as the contributions made to third-party countries that would arise from Sino-Japanese cooperation. We hope that we can continue to step up our collaborative partnerships with Chinese enterprises, more energetically drive our business expansion in China, foster attempts of cooperation with Chinese enterprises, and become engaged in various commercial activities in third-party countries together with Chinese enterprises.”

“Given the prevailing changes in China, such as the rapid growth of the inland areas, the transformation of its industry structure, and its ageing population, the business environment has been constantly evolving. Going forward, consumer-facing sectors such as food and agriculture, health and medical care, environmental protection, smart mobility, and consumer services will witness further growth. We regard China as our key market, and incorporate these growth areas as important components of our business. We hope to be able to leverage on and tap Mitsui’s strengths, while embracing even more “challenges and opportunities of creation” by joining hands with Chinese enterprises. Mitsui and Fosun have been cooperative partners for years, with Fosun operating a diverse array of businesses. We earnestly look forward to achieving even deeper collaboration with Fosun, as we are especially concerned about the changes in China’s industry structure and would wish to yield stronger synergy regarding such areas as the construction of our consumer ecosphere.”

Signing Ceremony for Strategic Cooperation between Kyoto Prefecture and Fosun

Kyoto Prefecture of Japan previously entered into an agreement of strategic cooperation with Fosun, for which the signing ceremony was held at the event. Such strategic cooperation is intended to promote the sale of Kyoto’s products in both China and the rest of the world. Kyoto is itself the most significant IP of Japan, especially in relation to culture. Leveraging on the Kyoto House established in BFC of Shanghai as the point of departure for such collaboration, Fosun will be bringing in craftsmen and the best products from Kyoto to Shanghai. At the same time, Fosun will also assist Kyoto Prefecture in developing its retail market in China through the combined use of online and offline resources. Going forward, Kyoto Prefecture and Fosun will achieve win-win collaboration by extending their cooperation, making use of their joint research and development in relation to technological and innovation activities, and capitalizing on the resources of both parties.