CTV News in Tokyo: Canadian business leaders went to Japan to make deals. Here’s what they’re bringing home.
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Record participation in a team-Canada trade mission to Japan has resulted in more than $1 billion in commercial investments signed between Canadian and Japanese companies.

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Three hundred business leaders from 175 Canadian corporations traveled to Tokyo to explore partnerships with the Japanese. Global Affairs Canada said it was the most delegates present for a trade mission in Asia ever, and second worldwide to an event in Mexico earlier this year.

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Denise Miura, who runs the Japan division of Canadian software company OpenText [Canada’s largest enterprise software company that employs more than 300 people in Tokyo, and has more than 2,500 corporate customers in Japan, including automakers and defence manufacturers] says that she has heard from global clients who want to diversify away from both the United States and China.

She says both Japan and Canada have emerged as the “top desirable trading partners because they are trustworthy and have a shared value system.”

“They behave like adults in the room and you’re not seeing that a lot these days,” said Miura, the president of OpenText Japan, from her Tokyo office.

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The largest group of participants on team Canada came from the defence and security sector. Both Canada and Japan are under pressure to spend more on the military. Canada has committed to a new NATO target of spending five per cent of GDP on defence by 2035. The Defence Investment Strategy calls for Canada to partner with allied nations like Japan to build up its military industrial capabilities.

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Among the Canadian companies that signed big contracts are stalwart technology firms and plucky startups.

Japan’s second biggest bank SMBC has committed to investing in Deep Sky, a carbon removal company headquartered in Montreal with storage facilities in Innisfail.

CEO Alexandra Petre said securing the deal took multiple trips to Japan over several months.

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BlackBerry also signed a deal with two Japanese automakers. Its QNX advanced driver assistance operating systems are in 275 million vehicles worldwide.

Montreal-based RSAT Space develops advanced satellite components and has partnered with Japan’s WARSPACE which specializes in optical laser communications.

SPARC Global Solutions, which brings together experts from government, industry and academia has signed an agreement with AutnHive to use its tools to keep artificial intelligence safe while building mapping tools for governments.

Zerokey, a quantum technology company based in Calgary also signed an MOU with Deloitte Japan to work together to use AI to improve efficiency in Japan’s industrial manufacturing, aerospace and defence sectors.

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There were other companies that inked agreements, but Global Affairs said they preferred to keep their commercial dealings private.