JAPANESE manufacturing company Kurabe Industrial Philippines Inc. signed a P2-billion investment deal with Aboitiz InfraCapital (AIC), which marks Kurabe’s official entry into the Philippine market with the construction of a manufacturing facility within AIC’s LIMA Estate in Batangas.

The AIC-Kurabe deal, signed in Tokyo last November during the Philippine business delegation’s Japan Roadshow, follows the registration agreement between the Philippine Economic Zone Authority (PEZA) and Kurabe, which classified the Japanese company as an ecozone export enterprise.

The agreement with AIC entails Kurabe’s purchase of a 5.9-hectare property within the 800-hectare LIMA Estate in Batangas, which offers industrial lots to foreign and domestic companies interested in expanding operations in the country.

“Considering the strategic location of LIMA Estate, the incentives we get with our registration to PEZA, and Aboitiz InfraCapital’s readiness and expertise to cater to foreign locators, we have decided that the Philippines is the best location to disperse our business,” Kanazawa Takenobu, Kurabe Co. Ltd.’s CEO and president said.

“Aboitiz InfraCapital is undoubtedly our choice partner for this expansion, given its well-established reputation and its strong relationship with Japanese business owners. Knowing that a dedicated Japanese team from AIC is accessible to meet our needs provides us with a sense of security and comfort,” he added.

Kurabe’s deal with AIC will result in a P2billion investment from the Japanese manufacturer for its expansion within AIC’s LIMA Estate. This investment is earmarked for land, the acquisition of factory equipment, and the eventual construction of the facility which is slated to break ground in 2024.

“AIC shares the success of this deal with PEZA and our partners from the Department of Trade and Industry. On behalf of the Philippine delegation at the Japan Business Roadshow, we welcome Kurabe Industrial to the Philippines, and to LIMA Estate. This partnership demonstrates our shared commitment to attracting foreign investment to the Philippines — which aims to generate employment, boost commerce and local trade and reinforce the economy,” said AIC Economic Estates head Rafael Fernandez de Mesa.