November 12, 2016 6:20 am JST

Toyo Engineering, Fujitsu eye opportunites in Japan-Russia talks

TOKYO -- Japanese companies Toyo Engineering and Fujitsu are looking to reap opportunities from their country's budding economic cooperation with Russia.

Russia's National Chemical Group chose Toyo Engineering as a contractor for a fertilizer production complex planned for Nakhodka, near Vladivostok in the Russian Far East. Together with two South Korean firms, Toyo Engineering will design and procure materials for the ammonia and urea plants.

The order could be worth some 100 billion yen ($937 million). A formal agreement is expected to be inked as soon as next year. 

Tech giant Fujitsu is looking at business venture with scanner unit PFU and Russian software firm Abbyy for automatically translating scanned text.

Japan and Russia agreed Nov. 3 in Moscow to make progress on about 30 joint project proposals by the time Russian President Vladimir Putin visits Japan in December. Senior executives from both Toyo Engineering and Fujitsu attended those talks.

"Companies present at the conference have very promising projects lined up," said Japanese Economy, Trade and Industry Minister Hiroshige Seko. That suggests Tokyo Engineering and Fujitsu may be part of the 30-odd priority projects designated at the meeting.

Japanese companies have substantial room for expansion in Russia. Broadening economic cooperation into sectors beyond energy could create opportunities for players in more industries.

Tokyo seeks progress toward a formal peace treaty with Russia, one that would include a settlement on Russian-administered islands that Japan claims and calls the Northern Territories. Russia meanwhile hopes to diversify its economy and develop its Far East.

(Nikkei)

Toyo Engineering Corp.

Japan

Market(Ticker): TKS(6330)
Sector:
Industry:
Industrial Services
Engineering & Construction
Market cap(USD): 482.43M
Shares: 192.79M

Fujitsu Ltd.

Japan

Market(Ticker): TKS(6702)
Sector:
Industry:
Technology Services
Information Technology Services
Market cap(USD): 12,850.77M
Shares: 2,070.01M

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

Subscribe today to read the full story
- three months for
just $9

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

Subscribe today to read the full story
- three months for
just $9

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.