The Business Environment in Okinawa. The Bank of Okinawa,Ltd 3

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Amelia Berry
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1 The Business Environment in 3

Competitive Advantage of s Ideal Location With major Asian cities within range of 4 hours, located in the heart of East Asia Seoul 2h 10min Beijing DalianSeoul Tianjin Tsingtao Shanghai Busan Narita

2 Competitive Advantage of s Ideal Location With major Asian cities within range of 4 hours, located in the heart of East Asia Seoul 2h 10min Beijing DalianSeoul Tianjin Tsingtao Shanghai Busan Narita Haneda Kansai Nagoya Tsingtao Shanghai Taipei 2h 50min 2h 5min 1h 30min Bangkok Phnom Penh Ho Chi Minh Hangzhou Taipei Amoy Hanoi Hong Kong Macau Locations within 4- Vientiane hour flight from Manila Hong Kong Bangkok Singapore Amoy (From October 2015) Narita 2h 35min 4h 25min 5h 2h 2h 25min Kuala Lumpur Singapore Haneda Nagoya 2h 20min 2h 15min Kansai 1h 50min 4

3 Implement five key strategies leveraging the advantages of and four industrial growth strategies utilizing the characteristics of. With the promoting function that supports these strategies, aims to become a strategic hub connecting Asia and Japan by capturing Asian market needs that are becoming increasingly sophisticated and diversified. Promoting goods distribution Promoting people s communication Key strategies Industrial growth strategies Promoting function Connecting seamless traffic system in Asia (sea, air and land) a Transmit Information on (sightseeing, investment, etc.) Establish Platform, a business networking hub in Asia Establish as a Business Concierge Capture needs from Asian market Forming an internationally competitive logistics hub that connects Asian countries Realizing worldclass tourist resort destination Forming an aviation industry cluster Forming Smart Hub, an Asia s leading international telecommunications hub Promoting new manufacturing industry that connects and Asian countries Strengthen competitive edge through collaboration Agriculture, forestry fisheries and livestock industries b Advanced medical, healthcare and bio industries c Environmental and energy industries d Local and local infrastructure industries Promote Japanese economy s development in Asia Supply human resources Nurture global human resources capable of performing across Asia Liberalized corporate activities Deregulation and system reform to capture the dynamic growth in Asia Local industry: industry expected to grow leveraging the characteristics of Local infrastructure industry: industries related to construction, mining, wholesale and retailing, financial, insurance and real estate, education, restaurant and services Source: Asia Economic Strategy Initiative Plan 5

Five Key Strategies Leveraging the Advantages of (1) 1.

fuel tax and other measures (2) Establish logistics platform and accumulate the related industries to enable quick delivery of Japanese specialty goods to Asian countries Naha

Realizing world-class tourist resort destination Naha Airport (1) Prepare large-scale MICE facilities (2) Prepare reception facilities for large cruise ships Basic functions of

2,500 m 2 Exhibition hall 30,000 m 2 Multistory parking 4 floors and 5 stories for 2,000 vehicles Mid- and small-sized meeting rooms (2-storied) Approx.

4 Five Key Strategies Leveraging the Advantages of (1) 1. Forming a logistics hub that connects Asian countries (1) Expand aircraft parking aprons at Naha Airport and further enhance logistics function through the mitigation of aviation fuel tax and other measures (2) Establish logistics platform and accumulate the related industries to enable quick delivery of Japanese specialty goods to Asian countries Naha Umi-Sora Tunnel Naha port (International container terminal) 2. Realizing world-class tourist resort destination Naha Airport (1) Prepare large-scale MICE facilities (2) Prepare reception facilities for large cruise ships Basic functions of the facility Multi-purpose hall Approx. 7,500 m 2 Foyer Approx. 2,500 m 2 Exhibition hall 30,000 m 2 Multistory parking 4 floors and 5 stories for 2,000 vehicles Mid- and small-sized meeting rooms (2-storied) Approx. 7,500 m 2 Truck yard For company meetings For trainings / incentive travels Delivery entrance Exhibition hall Foyer For domestic / international meetings For exhibitions / trade fairs Multipurpose hall Delivery entrance Mid- and small-sized meeting rooms (2- storied) Layout image This map is a diagram to show the function and scale of each facility in accordance with the actual shape of the property. Basic functions and other necessary functions of facilities are placed effectively to design at the stage of development. Source: Naha Port Authority, prefecture 6

Five Key Strategies Leveraging the Advantages of (2) 3.

necessary for forming an aviation industry cluster centered around aircraft maintenance business (2) Public and private sectors come together to establish a hub for nurturing aviation industry human

system attraction of enterprises Fostering human recourses Sightseeing industry Advanced technology R&D Expand JV with foreigncapitalized companies 4.

5 Five Key Strategies Leveraging the Advantages of (2) 3. Forming an aviation industry cluster IT industry ripple effect to related industries Manufacturing and processing industry (1) Secure industrial premises, conduct investigation and invitation necessary for forming an aviation industry cluster centered around aircraft maintenance business (2) Public and private sectors come together to establish a hub for nurturing aviation industry human resources such as aircraft maintenance technicians Energy industry Logistics industry Engine maintenance Aircraft maintenance Parts distribution center MRO provider Engineering/consulting Maintenance system attraction of enterprises Fostering human recourses Sightseeing industry Advanced technology R&D Expand JV with foreigncapitalized companies 4. Forming Smart Hub, an Asia s leading international telecommunications hub Cloud environment completed (1) Establish IT Industry Strategies Center (tentative name) charged with formulating IT industry s mid- to long-term strategies under the industry-government-academia partnership (2) Foster human resources capable of contributing to business alliances across IT companies in the prefecture and their business development in Asia cloud network (prefectural infrastructure) GIX line Hong Kong and Singapore international communication network (overseas infrastructure) Tokyo 5. Promoting new manufacturing industry (1) Encourage manufacturing industry through promoting industrygovernment-academia alliance and business collaborations, and facilitating the development of advanced technology and strategic products (2) Encourage new manufacturing industry based on sophistication of supporting industry and development of EV-related industry Source: Asia Economic Strategy Initiative Plan 7

Population of (Future Prospects) The population of is expected to take a downward turn in and after 2025.

(in thousands) (2100) 2,030 (2024) 1,440 (2035) 1,540 (2050) 1,610 Efforts to facilitate natural increase in population (Creation of a society that allows people to marry,

society (Creation of a dynamic society that is open to the world) (2100) 840 Job creation and securing diverse human resources Addressing to increase tourists and visitors

6 Population of (Future Prospects) The population of is expected to take a downward turn in and after Population is on the increase at this stage, but active steps towards population growth are being taken now. (in thousands) (2100) 2,030 (2024) 1,440 (2035) 1,540 (2050) 1,610 Efforts to facilitate natural increase in population (Creation of a society that allows people to marry, give birth to and raise children without undue worries) Elimination of childcare waining list Promotion of health and longevity in campaign Efforts to enhance growth of society (Creation of a dynamic society that is open to the world) (2100) 840 Job creation and securing diverse human resources Addressing to increase tourists and visitors Projected population Aims to resolve challenges faced by isolated islands and depopulated regions (Creation of a society that delivers well-balanced and sustainable population growth) Improvement of conditions for long-term residence Industrial development by demonstrating attractive regional characteristics 8

600.0 5,000 500.0 8,000 6,000 Target for 33 年度計画 FY2021 1,000 10,000,000 万人 4,000 400.0 3,000 300.

7 Number of Visitors to FY2015 marked a record 7.93 million tourists visiting The number of overseas tourists was 1.67 million (up 69% YoY), renewing a record high (in thousands) Trends in the 入域観光客数と観光収入の推移 number of visitors and tourism revenues ( billion) 10, 年度計画 8,000, 万人 Target for FY2016 6, , ,000 6,000 Target for 33 年度計画 FY2021 1,000 10,000,000 万人 4, , ,000 2,000 Number of visitors in H27 年度 FY2015 入域観光客数 7,930, 万人 ((up 前年度比 by 77,000 万人増 YoY) ) 2, , H15 04 H16 05 H17 H18 06 H H20 H H22 11 H23 H H25 14 H26 15 H27 H H33 (fiscal( 年度 year) ) Number of port call by cruise ships in 2015: 219 Source: Tourism ( 出所 ) Handbook, 沖縄県観光要覧 Prefecture Japanese visitors (left axis) Overseas visitors (left axis) Tourism revenues (right axis) 国内客 ( 左軸 ) 外国人客 ( 左軸 ) 観光収入 ( 右軸 ) Scheduled number of port call in 2016: 457 (up 108%) 9

Housing Market in Housing market in remains strong According to the national census 2015, growth rate of population and number of households are both the highest in Japan Number of new housing starts

8 Housing Market in Housing market in remains strong According to the national census 2015, growth rate of population and number of households are both the highest in Japan Number of new housing starts by housing type Consumption tax rate raised to 8% in April Population and number of households in 人口世帯数 No. of Population households Owneroccupied House for rent Company -owned Condominiums and detached housing 10

Recent Economic Trends 1 Official land prices BOJ Tankan ( 単位 (%) :%) Residential land prices Highest value on record 220,000/sqm BOJ Tankan Business Confidence DI Fukuoka Kumamoto National average

Transport and Tourism (10) National average Mar. 2013 Sep. 2013 Mar. 2014 Sep. 2014 Mar. 2015 Sep. 2015 Mar.

9 Recent Economic Trends 1 Official land prices BOJ Tankan ( 単位 (%) :%) Residential land prices Highest value on record 220,000/sqm BOJ Tankan Business Confidence DI Fukuoka Kumamoto National average Highest value ( 単位 (%) :%) Commercial land prices on record 855,000/sqm Fukuoka Kumamoto National average Source: Ministry of Land, Infrastructure, Transport and Tourism (10) National average Mar Sep Mar Sep Mar Sep Mar Source: BOJ Naha Branch Land prices in the prefecture have been increasing for three consecutive years. The growth rate is also higher than the national average. Business Confidence DI has been positive for 16 consecutive periods, renewing the record-high for three consecutive periods. 11

10 Recent Economic Trends 2 Economic growth rate (actual) Unemployment rate (%) 4.0 Comparison of economic growth rate - vs. National average (%) Trends 完全失業率の推移 in unemployment rates (1.0) 1.0 The prefecture s economic growth rate under the 県振興計画は平成 33 年まで Promotion Plan is expected to run at an 年平均 annual average +2.0% を展望値としている of +2.0% until (2.0) forecast H22 H23 H24 H25 H26 見込み H H H26 Mar. H Mar. H H Source: Prefecture, Cabinet Office, Government of Japan National average National average Source: Prefecture, Ministry of Internal Affairs and Communications Difference has maintained higher rates of economic growth than the national average In the past, suffered nearly twice the unemployment rate of the national average, but the rates have steadily fallen, becoming closer to the national level. 12

The Bank of Okinawa,Ltd 3

The Bank of Okinawa,Ltd 3 3 Competitive Advantage of s Ideal Location With major Asian cities within range of 4 hours, located in the heart of East Asia Seoul 2h 1min Beijing Dalian Tianjin Tsingtao Shanghai Seoul Busan Narita