On June 23, CalChamber hosted its annual luncheon welcoming guests representing Japanese – American business in California. Allan Zaremberg, President and CEO of the CalChamber, exchanges gifts with Hiroshi Haruki, President of the Japanese Chamber of Commerce of Northern California, and Koichi Kinoshita, President of the Japanese Business Association.

(June 24, 2011) Japan’s economic recovery after the Tohoku earthquake and related tsunami was the topic of discussion during a luncheon yesterday with representatives of the Japan Business Association (JBA) and the Japanese Chamber of Commerce of Northern California (JCCNC) hosted by the California Chamber of Commerce.

CalChamber President and CEO Allan Zaremberg met with the groups to help them celebrate some significant milestones. JBA is celebrating its 50th anniversary, while JCCNC is celebrating its 60th.

Trade/Investment Overview

California exports to Japan, the world’s third largest economy, increased to total $12.2 billion in 2010. Computers and electronic products accounted for 23 percent of total exports.

Japanese investment spans across every major California industrial sector. California is the headquarters for many leading companies doing business in North America, creating jobs in our state and accounting for much related annual payroll and state revenue. In addition, Japan-affiliated companies employ many more workers across the nation.

California ports are the primary point of entry for Japanese products, making the state’s rail and highways system major hubs for distributing imported products throughout the Americas.

From Left (Seated): Gosuke Nakae, Mitsubishi International; Masanori Yasunaga, Calbee America; Hiroshi Haruki, President, Japanese Chamber of Commerce of Northern California; Allan Zaremberg, CalChamber President and CEO; Koichi Kinoshita, President, Japanese Business Association of Southern California; Yuko Kaifu, Union Bank; Katsuya Takamiya, Mitsubishi Electric. (Standing): Steven Teraoka, Teraoka & Partners; Susanne Stirling, CalChamber; Hiroshi Tomita, Konica Minolta Laboratory; Toshihiko Sekine, FX Global; Ko Takigawa, Bank of Tokyo; June-ko Nakagawa, Executive Director, JBA; Scott Keene, Advisor to JBA and JCCNC.

Japan's Recovery

Figures released in May showed that Japan’s economy shrank at an annual rate of 3.7 percent in the first quarter of 2011, tipping the country into a recession, as the crisis disrupted production and prompted consumers to cut back on spending. Economists projected that the Japanese economy will shrink again in the second current quarter, but that the recession may be deep but quick, The New York Times recently reported.

Japan recently launched the Visit Japan 2011 campaign, spreading the world that the nation is safe for visitors traveling on business and pleasure. For more information visit the website, www.visitjapan.jp

The U.S. State Department recently updated its travel alert for Japan, saying that while the situation at the Fukushima Daiichi nuclear power plant remains serious and dynamic, the health and safety risks to land areas outside a 50-mile radius of the plant are low and do not pose significant risks to U.S. citizens. 

California-Japan Seismic Exchange

Both JBA and JCCNC met with government and private sector officials to talk about the recent natural disaster, as it served as a compelling reminder that the worlds’ third and ninth largest economies share the never-ending risk of future seismic catastrophes.

The Tohoku earthquake has shed light on the need for California to collaborate more closely with Japan in order to find common solutions to reduce risks to the state’s economy and protecting California and Japanese business operations.

The JBA and JCCNC recognize the need to collaborate with the Governor’s office, the Legislature, the Seismic Safety Commission and other public agencies charged with planning for the next disaster and speedy recovery.

The California Seismic Safety Commission is California’s lead agency for developing seismic safety policy. The commission is dedicated to reducing the seismic risk to Californians and implementing policies to enhance post-earthquake recovery. The commission has a long history on collaboration with Japan and an ongoing evolving partnership.

During a meeting on June 22, participants discussed establishing an informational California-Japan Seismic Exchange to help develop strategies to reduce commercial disruptions in California and enhance business recovery in the event of a future major seismic/tsunami disaster.

Disaster Relief

The CalChamber offers its deepest sympathy and condolences for the victims of the disastrous earthquake and tsunami that struck the northeast coast of Japan on March 11. The CalChamber donated to the Red Cross and urges members to donate to the relief organization of their choice.

More Information

For more information on Japan, visit CalChamber’s trading partner portal, www.calchamber.com/japan.