BEYOND EXPO 2024 | Japanese companies thrive on innovation and seek synergy with China · TechNode

Well-known Japanese technology companies including Sony and Fujifilm on Thursday showcased their latest products and business solutions at the BEYOND EXPO 2024 technology conference in Macau, expressing their hopes for future cooperation with China.

The public appearance at one of Asia's biggest technology events is the latest example of how the world's fourth-largest economy is not only looking to continue its tradition of tech innovation but also to evolve into a hub for entrepreneurs and startups.

Japan has implemented various policies to support overseas startups, including providing heavy subsidies for research and development, Yuya Makino of the Japanese Consulate General in Guangzhou said during the event. Asian economies have a gross domestic product of over $4.2 trillion and have also seen a dramatic increase in venture capital investment over the past few years, Makino said.

“I think over the last 15 to 20 years or so, Japan has been overtaken by markets like China, India and Southeast Asia, but now there's enough momentum in both the private and public sectors to boost innovation in Japan. That's the big thing we're starting to see in Japan,” Akio Tanaka, partner at investment firm Headline VC, told the audience.

Meanwhile, Jie He, head of the China office of Tokyo-based venture capital firm Global Brain Corp., said many large Japanese companies are considering continuing to invest in China to maintain their presence in the country given its huge population and huge potential. For example, Kenichi Okada of the Hong Kong Consulate-General said some companies are looking at the Greater Bay Area (GBA) of Guangdong province, Hong Kong and Macau for business potential because of its huge population.

Below are some of the innovative initiatives presented by companies at the Japan Tech Forum at this year's BEYOND EXPO, held in Macau from May 22-25.

Sony showcased a project using haptic technology for entertainment embodied in the form of a floor, saying that walking on the floor will provide users with a realistic and fascinating sensation of different walking terrains. The company's engineers have packed the floor with sensors and motors to enhance the experience. It can mimic deserts and ice to create immersive interactive experiences in theme parks, museums and live music venues.

According to Sony China Co., Ltd. Executive Vice President Mikio Takenaka, the company has extensive and detailed research and development plans for China, ranging from entertainment to mobility to elderly care.

Fujifilm shared its innovation stories with an open mindset. Yonghua Shi, Corporate Communications Director of Fujifilm (China) Investment Co., Ltd., said the Japanese company established the Open Innovation Hub in 2014, hoping to create value to illuminate the future together with business partners. One of the cases from the Hub was a joint development effort between Fujifilm and Daikin. By using Fujifilm's ventilation soundproofing material, the Japanese air conditioner manufacturer managed to reduce the operating noise of its products by more than 20%.

A similar organisation was established in Shanghai in 2020 and last year partnered with ReGACY Innovation Group to launch Fujifilm's first innovation programme in China to accelerate technology-led business development.

Asahi Kasei, a chemical manufacturer headquartered in Tokyo, has announced a new optical transparent resin called “AZP” that has optical properties that could not be achieved with conventional transparent resins. It is expected to be a next-generation material to replace optical glass. AZP lenses can be used in VR (virtual reality) headsets, and the polarized optical bending widens the field of view and allows for the miniaturization of headsets. It reduces ghosting and flare, improves contrast, and minimizes the effects of birefringence to achieve a clear field of view.

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