Spring Partners Represented in Osaka at Accounting & Law Firm Alliance’s Asia Pacific Regional Conference
Spring Partners was represented from 24-26 May in Osaka at the Asia Pacific Regional Conference of Alliott Group, the international alliance of professional services firms of which our firm is a member. The conference provided learning, personal development and networking opportunities and was attended this year by 28 professionals from 17 cities in 11 countries.
The conference themed ‘Building a Future-Proof Professional Firm’ provided attendees with insight into the business opportunities offered by Japan and other Asia Pacific economies and offered practical tips on how to communicate and negotiate more effectively with Asian business people. With delegates from attending from Alliott Group affiliated member firms across Asia, as well as from Australia, Belgium, Germany and the UK, the conference enabled our firm to build stronger personal connections to professional advisers on whom our clients can rely whenever they need assistance with a business or personal matter.
Our participation in this type of international conference enables our firm members to advise more effectively those of our clients who are doing business in Asia Pacific countries. Our investment in sending our firm members to Alliott Group events demonstrates that we value our people, support their development and are taking steps to future-proof the firm and the business of our clients.
At the conference, keynote speaker Ichiro Soné of Japan External Trade Organization (JETRO) provided economic data which confirmed the attactiveness and importance of trading with Japan. Updates were also shared on Japan’s new EU and Trans-Pacific Partnership trade agreements which are set to boost the country’s GDP and jobs market from 2019. Delegates also learnt about recent regulatory and tax reforms and the Japanese Government’s strategy to make the country more competitive in attracting high skilled foreign professionals.
Soné explained that Japan is the world’s third largest economy in terms of GDP (US$4,939 billion) and is performing well under the policies led by Prime Minister Abe. The country has enjoyed eight consecutive quarters of GDP growth for for the first time in 28 years. Furthermore, in January 2018, the Nikkei stock exchange reached a 26 year high average of 24,124 Yen, the rate of inflation is flat, and the effective rate of corporate tax has been reduced by 7% over the last three years to 29.74%.
There are opportunities for clients who may be looking to invest or expand into Japan- foreign businesses are being encouraged to enter the Japanese market through ongoing regulatory reforms (liberalisation and the loosening of visa requirements), particularly in the country’s medical/pharmaceuticals, energy and tourism sectors. The new policies are yielding results with records for the amount of foreign direct investment achieved in four consecutive years, peaking in 2017 at 29.97 trillion Yen.
Participation in a cultural workshop run by Shintaro Tominanga of PWCIB Academy also enabled our firm members to gain greater understanding of Asian cultures and provided tips that will ensure our firm members can help their clients to partner more effectively with business people in the Asia Pacific region.
The international focus of our firm is increasingly important to our clients and makes us different in our local market. The global reach offered by our Alliott Group membership means we that can extend our services to almost any location in the world as required by clients. Moreover, we can offer our talented people exciting careers with variety and international exposure. Clients needing help in Asia Pacific countries or in other parts of the world, are encouraged to contact a member of the team so that we can introduce you to English-speaking professionals in different countries whom we know personally.
About Alliott Group
Founded in 1979, and with some 150 member firms in 62 countries, Alliott Group (www.alliottgroup.net) is an award winning international alliance of independent accounting and law firms that need access to a larger resource base on an international basis to develop reputation, visibility and new business. Alliott Group provides services to help its member firms position themselves as the ‘go to’ firms in their local markets for businesses and private individuals with multi-market business interests.