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Nikkei and FT to open Houston bureau, strengthening energy coverage

First joint office will track policy, corporate management trends and US economy

TOKYO -- Nikkei Inc. on Monday announced that together with the Financial Times it will open a bureau in the U.S. city of Houston in October.

The bureau will strengthen Nikkei's coverage of the energy industry, which is heavily concentrated in the state of Texas, but will undergo a major transformation as the world shifts toward a low-carbon economy.

Nikkei's overseas bureau network will expand to 37.

Texas is home to energy giant Exxon Mobil, but has recently also seen an influx of high-tech companies relocating from Silicon Valley, where personnel costs are soaring.

The joint bureau with the FT will be a hub for covering energy policy, an observation point to watch corporate management trends and a base from which to capture the latest developments in the U.S. economy.

Tsuyoshi Hasebe, president and CEO of Nikkei, said: "The opening of the joint bureau in Houston is a testament to the strength of the Nikkei-FT partnership. Together, we will continue to expand our global network of journalists to deliver even greater value to our readers."

John Ridding, CEO of the FT, said: "We are excited to open our first joint bureau with Nikkei, as we develop our partnership and align our brands more closely. We have a shared ambition to grow our audiences in the U.S., where 30% of the FT's global readership is based, and Houston is an obvious place to position ourselves to capture a big, globally relevant story."

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