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Japan and the United States have short-listed a handful of projects as the first candidates under Tokyo’s planned $550 billion investment programme in the US, including a project involving SoftBank Group, Reuters reported on Monday, citing sources familiar with the matter.
The two governments have stepped up discussions to finalise the initial set of projects under the scheme, which was agreed as part of a broader Japan-US deal to ease tariffs on Japanese exports to the American market, the report said.
Officials on both sides are aiming to formalise the first project ahead of Japanese Prime Minister Sanae Takaichi’s expected visit to the United States later this spring, the report said.
Among the projects under consideration is a large-scale data centre initiative involving SoftBank Group, a company closely associated with cross-border technology investment and digital infrastructure, the report said. SoftBank did not immediately respond to Firstpost’s request for comment.
Japan's investment package would include equity, loans and loan guarantees from state-owned agencies Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI).
Japan and the US have held four consultation committee meetings since December to discuss potential projects, involving the US Department of Commerce and Department of Energy, and from Japan, the ministries of foreign affairs, finance and industry, along with JBIC and NEXI.
Talks have already begun with Japanese megabanks, which could join JBIC in financing the projects, the report added.
Based on input from the consultation committee, the investment committee led by the US Secretary of Commerce will make recommendations to President Donald Trump, who will make the final selection.
While a US Supreme Court ruling on the legality of Trump's global tariffs is imminent, Tokyo has said it plans to proceed with the investment initiative regardless of the outcome, saying it's designed to jointly build key supply chains and benefit both countries.
The two governments have stepped up discussions to finalise the initial set of projects under the scheme, which was agreed as part of a broader Japan-US deal to ease tariffs on Japanese exports to the American market, the report said.
Officials on both sides are aiming to formalise the first project ahead of Japanese Prime Minister Sanae Takaichi’s expected visit to the United States later this spring, the report said.
Among the projects under consideration is a large-scale data centre initiative involving SoftBank Group, a company closely associated with cross-border technology investment and digital infrastructure, the report said. SoftBank did not immediately respond to Firstpost’s request for comment.
Japan's investment package would include equity, loans and loan guarantees from state-owned agencies Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI).
Japan and the US have held four consultation committee meetings since December to discuss potential projects, involving the US Department of Commerce and Department of Energy, and from Japan, the ministries of foreign affairs, finance and industry, along with JBIC and NEXI.
Talks have already begun with Japanese megabanks, which could join JBIC in financing the projects, the report added.
Based on input from the consultation committee, the investment committee led by the US Secretary of Commerce will make recommendations to President Donald Trump, who will make the final selection.
While a US Supreme Court ruling on the legality of Trump's global tariffs is imminent, Tokyo has said it plans to proceed with the investment initiative regardless of the outcome, saying it's designed to jointly build key supply chains and benefit both countries.
