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Sumitomo Corp. & Latin America

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Sumitomo Corp. & Latin America Obstacles & Opportunities for Japanese Investment in Latin America Ryoji Watanabe, Senior Analyst Sumitomo Corporation of Americas Washington Office September 7, 2018 (Disclaimer: The views expressed in the event belong solely to the presenter and not necessarily those of Sumitomo Corp.) Table of Contents S U M I T O Corporate Global Network Challenges Distance Activities in Sumitomo Case: Overview & Latin America Minera San Opportunities Cristobal, Bolivia S M O C O R P Sumitomo Case: Sumitomo Case: Sumitomo Case: Sumitomo Case: Sumitomo Case: Material Cosan Fyffes BRK Ambiental Agrichemical Automotive Issues Sumitomo Corp. & Latin America Corporate Overview Since its foundation in the early 17th century, the “Sumitomo” name has represented stability and trust. Sumitomo Corporation is one of the leading trading & investment firms in Japan, continuously expanding into a diverse range of products and services for wide business fields. These business activities include sales of a variety of products and services within Japan, import and export, trilateral trade, and domestic and international business investment. Steel service Center (Mexico) Leading-edge aircraft for Sewage treatment plant J:COM, the largest cable TV Sierra Gorda copper & leasing business Pharmacy store chain, “Tomods” molybdenum mining (Brazil) operator (Japan) (Japan) (Chile) Storage yard, lined up with OCTG Electric scooter for sharing SHOP CHANNEL Cove Point LNG terminal (Norway) Offshore wind farm Property Development and battery swapping station TV Shopping (Japan) (USA) (Belgium) (Houston, USA) World’s longest vessel for Ultra-large excavator and Jakarta MRT system –North- Investment in cutting-edge A supermarket chain, “Summit” Pet pharmaceutical (USA) transporting long rails truck for mining South line: country’s start-ups (Silicon Valley, USA) (Japan) (Japan→USA) 1st subway (Indonesia) 3 Global Network Overseas offices are operated in four broad regions. [as of March 1, 2018 ] *Locations of offices are marked. No. of Offices in the Americas: 22 Europe, Offices in North America: 12 (HQ in New York) Middle East, Offices in Latin America: 10 (South America HQ in Brazil) Africa & *Our first office in Latin America opened in Argentina in 1953. CIS Most others followed in the 1950’s and 60’s. East Asia Headquarters [Tokyo] The Americas Asia & Oceania Japan Number of Offices 129 locations 66 countries and regions Number of Consolidated Subsidiaries 947 companies 81 countries and regions 4 Challenges & Opportunities for Sumitomo Corp. & Japanese Companies Challenges that We Face in Latin America (1) Japan-related (2) Latam-related (3) External Business • Lack of Latam knowledge • Security • Competition with Asian / • Asia-focused • Exchange rate fluctuation European companies • 80’s image • Emerging Market turmoil (until earlier this decade) Political • FTA (Economic Partnership • Political instability • NAFTA renegotiation Agreement (EPA)) negotiation • Government approvals • Trade friction speed • Tax • Uncertainty in global trading • Trade / Customs system How We Have Coped with Challenges (1) Japan-related Challenge: Lack of Latam Knowledge (2) Latam-related Challenge: Political & Security Risk • Applying successful businesses in Asia to Latam • Japanese government’s support (loans, etc.) • Management’s top-down focus on key growth countries in Latin America • Local information gathering • Washington Office • Close ties with local governments and communities (3) External Challenge: Competition with other countries • Japanese technology / CSR • Local partnership / local leadership How Governments May be Able to Promote Japanese Investment to Latin America (1) Japan-related Challenge: Lack of Latam Knowledge (2) Latam-related Challenge: Political & Security Risk • High level visits, etc. • Political stability & business friendly policy • EPA’s Business Environment Improvement Committee (3) External Challenge: Competition with other countries -Channel of communication between governments & businesses • EPA (e.g. Japan-Mercosur EPA) 5 Challenges & Opportunities for Sumitomo Corp. & Japanese Companies Japan and South America are on the Opposite Sides of the Globe Mexico City Sao Paulo, Brazil (Direct Flight) (via Dallas, USA) 12.5 hrs. 25 hrs. Tokyo Lima, Peru (via Atlanta, USA) 21 hrs. Santiago, Chile (via Dallas, USA) 25hrs. Buenos Aires, Argentina (via Dallas, USA) 25 hrs. 6 Sumitomo Corp. & Latin America Japan-Mexico EPA Japan-Chile EPA Japan-Peru EPA (issued in 2005) (issued in 2007) (issued in 2012) Latam: Import Substitution Latam: Neoliberal policy Industrialization Commodity Boom (2000-2014) Lost decade in Lost 2 decades in Japan Middle Class Expansion Japan investing in Latin America in Latin America Econ. Relations Econ. manufacturing industry in Latin America 2008 Japan: Bubble Burst Latam :Debt Crisis Financial Crisis Latam BRICS boom - Japan investing in natural resources in Latin America Asian Financial Crisis *Oil shock in 1973 increased the interest in securing natural resources in Japan (mid 2000’s) VISTA Mex. Peso crisis Japan NAFTA issued Argentine crisis NEXT11 1950’s 60’s 70’s 80’s 90’s 2000’s 2010’s Servilamina Summit Sao Paulo (Mexico) Latam office Lima 1992 Office Guatemala (Mexico) Buenos Aires San Cristobal (Brazil) Bogota Office 2014 office (Bolivia) 2006 2016 Office (Brazil) Santiago Minera Tizapa Hirotec Office (Mexico) 2010 Caracas (Mexico) (Brazil) 1992 1998 Mexico City Office Quito IHARA (Brazil) 2015 Office Office 1976 Sierra Gorda BRK Ambiental (Chile) 2011 (Brazil) 2017 Summit Agro (Brazil) South America (Latam) (Chile) 2015 Sumitomo Corporation in Corporation Sumitomo 2013 2017 7 Sumitomo Corp.’s Activities in Latin America MUSA 2010- A Iron ore mining. Indirectly invests in mining railway. D San Cristobal 2006- ① B 4th in zinc and 6th in lead production in the world. Mexico City ⑨ Guatemala H ② Sierra Gorda 2011- Caracas Resources Natural C One of the top Copper-Molybdenum mines in ③ Chile. Started commercial production in 2015. Bogota H Mazda de Mexico 2011- (Production started from 2014.) ④ D Production and sales of Mazda cars. Quito Established the supply chain of manufacturing auto parts to the sales of tires. ⑤ I E Automobile Lima BRK Ambiental 2017- ① Sumitomo Corp de Mexico E A Water and sewage + Industrial water treatment business B J Sumitomo Corp de Venezuela F Offer service to approx. 17 million people in 12 states and ② C ⑦ ⑦ Rio de Janeiro 100 cities and villages. São Paulo ③ Sumitomo Corp Colombia Gerdau Summit 2017- F G Production and sales of forging parts for wind power ④ Sumitomo Corp del Ecuador generation. ⑥ ⑧ Infrastructure Buenos Aires Gerdau is the largest steel manufacturer in Latin America. ⑤ Sumitomo Corp del Peru Santiago G （ ）1982- Mexico Summit Agro Latin America ⑥ Sumitomo Corp Chile Ltda Columbia Sales business of agrichemicals in Latin America. Ecuador Headquartered in Chile for South America operation. G Sumitomo Corp do Brasil Peru Fyffes 2017- ⑦ ○Sao Paulo Head Office Chile (Headquarters) H Production, distribution, and sales of fresh produce. ○Rio de Janeiro Office Argentina Agro Amazonia 2015- ⑧ Sumitomo Corp Argentina Belize Distributor of farm and livestock supply, such as agrichemical Guatemala Agriculture I products, in Mato Grosso. Provides financing, etc. Honduras H ⑨ Sumitomo Corp Guatemala Panama Cosan Biomassa 2016- Costa Rica J Produce sugarcane pellets for power generation. Ecuador 8 Mineral Resources: Minera San Cristobal, Bolivia Emphasis on the Environment & CSR Mining: Silver, Zinc, and Lead Investment in 2006 *In 2009, Sumitomo Corp acquired all stakes and now owns 100%. 9 Renewable (Biomass): New Business Opportunity in Japan & Other Markets Brazil Sugarcane pellets Sugarcane Sugar Cosan is the world’s largest sugarcane producer. Investment in 2016 10 Food (Banana, etc.): Latin America Applying Successful Business in Asia to Latin America S.E. Asia Japan Latin America N. America & Europe Fyffes is one of the leading fruit and fresh produce companies in the world #1 share in #3 share in #1 share in N. America Europe Europe ( Winter imported) High Quality Control Top market share in Japan Production in Logistics Ripening/Sales Latin America Bananas, Melons, Pineapples, and Reefer Containers for shipping Ripening center N. America & Investment in 2017 Mushrooms Europe 11 Infrastructure (Water): Brazil Capturing a Social Infrastructure Investment Opportunity Advanced Technology Tokyo JAPAN Leak TS Leak Checker Detection Investment in 2017 12 Agrichemical: Latin America Japanese Technology to Latin America Japan’s strong R&D in agrichemical products One of the largest distributors of agricultural and livestock supplies in the State of Mato Grosso, Brazil Investment in 2015 Summit Agro South America Holdings Leading agrichemical distributor in Brazil Investment in 1976 Summit Agro South America established in 2015 13 Automotive: Mexico North American Integrated Production Network Sumitomo Corporation’s Auto-related value chain in North America Mazda de Mexico Vehicle Operation Raw Parts Vehicle (MMVO) Mazda Car Plant in Salamanca, Mexico Materials Assembly Commercial Production Started in 2014 Annual Production Capacity: 250K Cars SSM Steel Service Export Center SUMMIT AUTO GROUP HOLDING Distributor Car Dealers KIRIU Brake Disc Retail Knuckle Tire Sales TBC Car Service Leasing MIDAS Maintenance INTERNATIONAL HIROTEC CRANKSHAFT Fender Logistics NSS CRANKSHAFT Door /Hood Crankshaft Exhaust After-Sales Finance Service 4R Consulting (Nissan/ HAL MEXICO Y-TEC
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