TOKYO -- The public-private Cool Japan Fund has reached basic agreements with partners on three Asian projects, the first investments under its mandate of promoting Japanese culture and lifestyles abroad.
The first is a business to broadcast Japanese television programming in Southeast Asia in local languages, and sell related merchandise, in collaboration with Sky Perfect JSAT.
The second project will build a Chinese shopping mall envisioned to host stores that promote Japanese culture. This will be undertaken by department store operator H2O Retailing and local partners. The fund seeks to aid efforts toward improving Sino-Japanese relations at the grassroots level.
The third is a business to promote Japanese food in Singapore and other parts of Southeast Asia by opening inexpensive eateries inside shopping centers.
The fund, created in November under Prime Minister Shinzo Abe's growth strategy, will finalize details of the projects over the next several months. Their combined scope is seen totaling 65 billion yen ($628 million) or so.