The Skytree tower in Japan. An archive photo from the November 2017 state visit
Photo: SIP/Jean-Christophe Verhaegen
Japanese firm JCR Pharmaceuticals has chosen Luxembourg to open its first facility abroad, the government announced on Tuesday.
The firm, which specialises in research and development, manufacture and sale of pharmaceuticals, wants to develop its enzyme-based therapeutic products worldwide.
The plant in Luxembourg would focus on active ingredient manufacture for biomedicine solutions.
In a press statement published Tuesday 19 December, Luxembourg economy minister Étienne Schneider said that the firm had signed a Memorandum of Understanding to lease land in the Bommelscheuer business park in the commune of Käerjeng.
Discussions were conducted on the arrangement during the working visit to Japan in November 2017.
“The state visit to Japan was an excellent opportunity to strengthen the links between the ministry of economy and JCR, and I am convinced of the mutual benefits of setting up this business in Luxembourg,” Schneider said.
JCR Pharmaceuticals is a publicly traded Japanese company with more than 500 employees and annual sales of more than €136 million.
“I hope that in the future, we will be able to provide patients from around the world with JCR brand medicines made in this factory,” said Shin Ashida, Executive Director, Director of the Board and CEO of the company.
No concrete timeline for construction of the plant was given, however, a statement published on the JCR Pharmaceuticals website said that the firm would know more about costs once it had concluded an agreement on construction works.
State visit impact
This agreement was one of a handful of announcements to emerge after a fruitful state visit to Japan in November.
Other results include the move to Luxembourg by insurers Aioi Dowa Insurance, Tokio Marine and Sompo.
The Luxembourg House of Financial Technology signed a memorandum of understanding with Japan Fintech Association to strengthen bilateral exchanges between the two countries; memorandums of cooperation on exploration and commercial utilisation of space resources were signed between Etienne Schneider, minister of the economy, and Masaji Matsuyama, minister of state for space policy, and between the country’s two respective chambers of commerce.
Meanwhile Cargolux and Nippon Cargo Airlines signed a cooperation agreement, allowing Cargolux to serve Narita airport in Tokyo.