Fuji Electric Holdings Co Ltd announced on 2 September that it had opened a branch office on Shwegondaing road in Bahan township in Rangoon.
The Tokyo-based firm said it aims to collect and analyse market trends for electric appliances while building ties with local and Japanese corporations based in Burma.
“By establishing this branch office in Myanmar [Burma], Fuji Electric is aiming to expand its business while contributing to the country’s economic development going forward,” the firm said on its website.
Established in 1923 as a venture between Furukawa Electric and Siemens, Fuji Electric specialises in energy and power systems such as pressure transmitters, pumps, generators, motors and solar power conditioners.
Fuji Electric joins a long list of Japanese multinationals that have invested in Burma recently, including Mitsubishi, Sumitomo and Kamigumi. A series of high-level visits involving Japanese Prime Minister Shinzo Abe and Finance Minister Taro Aso helped boost Japanese business interests in the country, including a pledge to develop the 2,400-hectare Thilawa Special Economic Zone south of Rangoon.
Earlier this year, Japan cancelled US$1.74 billion in Burmese debt, and has since offered fresh loans and development aid.