BDO firms up tie-up with Japanese banks
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BDO Unibank, Inc. (BDO) and FIDEA Holdings Co., Ltd. (FIDEA Group) further strengthened their business relationship through a memorandum of understanding (MoU) that will allow BDO to provide support to FIDEA’s clients who plan to invest in the Philippines.
FIDEA is a joint holding company between major Japanese regional banks The Shonai Bank, Ltd. (Yamagata prefecture) and The Hokuto Bank, Ltd. (Akita prefecture).
Both banks have partnered with BDO Unibank under the Japan Bank for International Cooperation (JBIC) framework in 2013. Said framework was developed to support the banking needs of Japanese enterprises eyeing the country as a business destination.
The partnership with the FIDEA Group will provide BDO Unibank adequate coverage in Japan’s northern region (Tohoku), specifically in Akita, Yamagata, and Miyagi prefectures where majority of the primary industries (agriculture, fishing, forestry, mining) are located.
As a leading player in the local banking sector, BDO Unibank can provide the Japanese clients financial and non-financial advisory services, and other products and services that would be helpful to them should they decide to set up shop in the Philippines.
Since 2007, BDO has established a fully staffed Japan Desk, with Japanese-speaking personnel, dedicated to market and service Japanese companies operating in the Philippines, and service the retail needs of Japanese customers.
Questions & Answers
Q.What is the primary goal of the new MoU between BDO and FIDEA Group?
What is the primary goal of the new MoU between BDO and FIDEA Group?
The memorandum of understanding aims to enable BDO to support FIDEA's clients who intend to invest in the Philippines. This strengthens their business relationship, building on previous partnerships established through the JBIC framework.
Q.Which specific Japanese regions will this new partnership with FIDEA Group cover for BDO?
Which specific Japanese regions will this new partnership with FIDEA Group cover for BDO?
The partnership will give BDO Unibank coverage in Japan’s northern region (Tohoku), focusing on Akita, Yamagata, and Miyagi prefectures. These areas are significant for primary industries like agriculture, fishing, and mining.
Q.What services can BDO provide to Japanese clients looking to establish businesses in the Philippines?
What services can BDO provide to Japanese clients looking to establish businesses in the Philippines?
BDO Unibank can offer Japanese clients financial and non-financial advisory services, alongside other relevant products and services. These offerings are designed to assist them if they choose to set up operations in the Philippines.
Q.When did BDO Unibank first partner with The Shonai Bank and The Hokuto Bank?
When did BDO Unibank first partner with The Shonai Bank and The Hokuto Bank?
BDO Unibank partnered with both The Shonai Bank, Ltd. And The Hokuto Bank, Ltd. In 2013. This initial collaboration was established under the Japan Bank for International Cooperation (JBIC) framework.