Major business deals signed on PM’s Japan trip

  • Rt Hon Christopher Luxon

Significant business deals have been closed during the visit of Prime Minister Christopher Luxon to Japan this week, including in the areas of space, renewable energy and investment.

“Commercial deals like this demonstrate that we don’t just export high-quality agricultural products to Japan, but also our world-class technology, expertise, and innovation,” Mr Luxon says.

On Tuesday, aerospace company Rocket Lab signed the biggest single launch deal in its history, with Japanese company Synspective. The deal will see 10 dedicated launches for Synspective from Rocket Lab’s site in Mahia.

“This is a game changing deal for Rocket Lab. It cements the company and New Zealand’s reputation as a global force in space innovation.”

A significant deal was also concluded with Japanese company Toda Corporation, which will invest in Queenstown’s luxury hotel industry, via Auckland-based Coherent Hotel Limited.

“Tourism is an important source of jobs for New Zealand and the investment by Toda Corporation is very welcome,” Mr Luxon says.

There were also two investment deals relating to renewable energy.

“The deal with Christchurch-based Fabrum, which is a leading player in the green hydrogen industry, is very significant. Fabrum will supply its proprietary liquid hydrogen storage system to Japanese company Toyota.

“And Japan’s Obayashi Corporation will acquire a 50 per cent stake in Kawerau-based Eastland Generation, at an enterprise value of approximately $500 million, to drive further growth in sustainable energy development and innovation in New Zealand.

“Each of the businesses that have joined me on this visit represent the wealth of ambition and innovation of New Zealand’s private sector. It is a real privilege to be able to celebrate these successes in Japan with these businesses.”

/Public Release. View in full here.