Seminar Report: Doing Business in Canada
Strong interest in entering the Canadian market attracts over 50 participants
Co-hosted by the Tokai Japan Canada Society and Manning Elliott
On November 13, 2024, the Tokai Japan Canada Society (TJCS), in collaboration with the Canadian accounting firm Manning Elliott (based in Vancouver), hosted a business seminar, "Doing Business in Canada" at WINC AICHI. The seminar attracted over 50 participants, primarily Japanese companies considering expanding into the Canadian market. Attendees gained insights into the advantages, considerations, and latest developments in the Canadian business environment while also expanding their professional networks.
The seminar began with opening remarks from TJCS President Shoji Amano.
This was followed by a presentation from Consul David Perdue of the Canadian Consulate in Nagoya, who discussed Canada's business environment and gave examples of Japanese investments in Canada. Consul Perdue highlighted the ongoing deepening of trade and economic relations between Japan and Canada, especially as the two nations celebrate the 95th anniversary of diplomatic relations. He emphasized Canada's merits as a destination for Japanese companies, citing its high quality of life, and shared real-life examples from Japanese businesses. He also touched on the rapid growth of markets in electric vehicles (EV), artificial intelligence (AI), and green energy, as well as the importance of engaging younger generations. Additionally, Perdue introduced a cooperative education program (Co-op Program) with the University of British Columbia, which involves Japanese companies collaborating on work experience initiatives.
Next, Yoji Yamada, former director of Mitsubishi Heavy Industries Hiroshima Works and Nagoya Aerospace Systems Works, gave a lecture on the theme of "The Importance of Expanding Business Beyond Japan". Drawing from his extensive international experience, he highlighted the benefits of leveraging skilled labour through the establishment of factories in Canada and emphasized the significance of strategic decision-making with a global perspective.
The seminar also featured presentations from Manning Elliott's certified public accountants, David Diebolt and Hirotatsu Ochiai. They provided updates on the Canadian investment environment for Japanese businesses, showcasing recent examples of large-scale investments by Japanese companies, such as Asahi Kasei and Honda's announcement of a new EV battery materials plant in Ontario.
The Manning Elliott team outlined key business opportunities in Canada, including:
- Strong trust in "Made in Japan" products.
- Competitive advantages in niche markets.
- Benefits of a weaker yen.
- Collaboration opportunities within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
- Accessibility to multiple markets, including the United States
While acknowledging regulatory challenges, they emphasized the detailed support available from organizations like JETRO, chambers of commerce, and Japanese financial institutions. They also shared an anecdote about a Japanese manufacturer selecting Vancouver over Portland for its new base due to the welcoming atmosphere created by the Canadian government and local chambers of commerce.
The three captivating presentations were followed by a robust Q&A session, exemplifying the high level of interest of the participants. In the networking session that followed, participants exchanged business cards and information while enjoying Canadian wine and finger food, where the lively exchange continued. The evening was so well-received that it extended past the scheduled time, and concluded as a great success.
