Tue, Aug 30, 2011 - Page 11 News List

Three MOUs signed so far in Japan roadshow: CEPD

By Amy Su  /  Staff Reporter, with Bloomberg

The Council for Economic Planning and Development (CEPD) signed a memorandum of understanding (MOU) yesterday with Daiwa Securities Group Inc to cooperate in training and helping companies seek initial public offerings (IPOs).

It was one of three MOUs signed during a government-led “Investment in Taiwan” roadshow to Japan, the council said in a statement. The weeklong roadshow, which began on Sunday and ends on Friday, will include two investors’ conferences in Tokyo and Osaka and about 30 company visits, the council said.

GlycoNex Inc (台灣醣聯生技醫藥), a Taiwanese biotechnology firm, also signed an MOU with three Japanese firms — including Mitsubishi Gas Chemical Co — to build a pharmaceutical plant in Taiwan, the council said, while the third MOU was signed by Taiwan Land Development Corp (台灣土地開發) and Med-1 Asia to promote Japanese coming to Taiwan for long-stays and to cooperate on endowment business.

The Taiwanese delegation, including 226 business representatives and government officials, is being led by Council for Economic Planning and Development Minister Christina Liu (劉憶如).

“Other than seeking investment, the major goal of the roadshow will be to build closer trade connections with Japan, as recent uncertainties in the US and eurozone economies reminded us of the importance of enhancing the intra-regional trade in Asia,” Liu said on Wednesday in Taipei.

Daiwa Securities Group, Japan’s second-largest brokerage, agreed with the Taiwanese government’s effort to seek cross-border investment banking opportunities, CEO Takashi Hibino told a press conference in Tokyo yesterday.

He said Daiwa and the council would encourage mergers and acquisitions and IPOs in Taiwan and Japan.

Daiwa opened a branch in Taiwan in 1993, which employs about 100 workers, said Hibino, who became CEO in April. The unit accounts for less than 10 percent of total revenue from Asia, he said, adding that he currently has no plans to boost the headcount for operations there.

Taiwan Stock Exchange chairman Schive Chi (薛琦) is scheduled to meet with some Japanese firms in Tokyo this week to discuss launching stock listings in Taiwan.

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