Tokyo: The Tokyo Metropolitan Government (TMG) has selected Accenture to recruit foreign companies to establish their Asian regional headquarters or research and development (R&D) centers in Tokyo's so-called Special Zone for Asian Headquarters by March 2014.
The TMG plans to recruit 500 foreign companies, with an initial target of establishing 50 regional headquarters, in the Special Zone by 2016; Accenture will find ten firms initially.
Accenture is asked to develop a list of promising foreign companies, targeting industries with the potential to enhance the region's international competitiveness. The company also will promote the attractiveness of Tokyo as an ideal region for business expansion.
"Accenture will encourage exceptional companies, with superior technologies and services, to establish their regional headquarters in the Special Zone and take advantage of all that Tokyo has to offer as one of the best cities in Asia for doing business," said Hiroshi Goto, who leads Accenture's Health & Public Service business in Japan.
"At the same time, we will advise the TMG on actions to consider to improve the business, government and living environments to help strengthen both Tokyo's and Japan's global competitive positioning."
Foreign companies that locate their Asian regional headquarters in the Special Zone will benefit from preferential tax treatment, bold deregulation and a generous package of financial assistance from the TMG, as well as management consulting services from Accenture to help them through the decision-making process.
Companies setting up in the Special Zone will be eligible for benefits such as:
- Preferential Tax Treatment: If newly established Japanese corporations locate their Asian headquarters or R&D centers in Tokyo, and satisfy certain requirements, they will be eligible to receive either a re-duced effective corporate tax rate, competitive with other Asian cities, or special depreciation rates (e.g. 50 percent of machinery acquisition costs, 25 percent of building acquisition costs) or an investment tax credit (e.g.15 percent of machinery acquisition costs, 8 percent of building acquisition costs).
- Subsidy programs: Subsidies, through the TMG, will be provided for up to 50 percent of recruiting costs, the cost of establishing offices in Tokyo and various notification costs, etc., when locating an office in the Special Zone.
- Consulting services: Accenture will provide management consulting services to foreign companies in the process of examining entry or expansion into the Japanese market until their final decision to locate their Asian regional headquarters or R&D centers in Tokyo. Accenture's services will include the formulation of growth strategies, market research and analysis and the identification of business partners.
- Use of business development center: Companies are able to make full use of the Business Development Center Tokyo, which provides one-stop services by full-time bilingual staff, mainly supporting sales channel development, including responding to overall business inquiries, such as incorporation of enterprise and helping expatriates adjust to life in Tokyo. The services are provided through Mitsubishi Estate, commissioned by the TMG.