In the 1950s, Japan helped Brazil establish industries such as steelmaking and initiated key purchases of Brazilian iron ore. Now the Asian nation is seeking to regain influence in Latin America's largest economy, where China is the No. 1 trading partner.
Japan has signed deals from energy to food and health care during Prime Minister Shinzo Abe's visit to the country, the first by a Japanese leader in a decade. Abe wants to strengthen ties with Brazil, where about 1.6 million people of Japanese descent live, as he urges his country's companies to seek more business outside their domestic market.
Top representatives from Toyota Motor Corp., Nippon Steel & Sumitomo Metal Corp. and Sumitomo Mitsui Financial Group Inc. were among the businesspeople accompanying Abe in Brasilia and Sao Paulo, the last destinations of a nine-day tour through Latin America and the Caribbean. Brazil is important for Japan because it has industries such as infrastructure and is a safe jurisdiction, said Yutaka Kase, the chairman of Tokyo-based commodity supplier Sojitz Corp.
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