Key facts
- UK and Japan have agreed a multi-billion pound investment deal valued at over £18 billion ($24 billion).
- Japanese firms will invest more than £9 billion in UK infrastructure and financial services.
- Up to £9 billion will be invested in UK offshore wind projects, supporting 5.9 gigawatts of capacity.
- The deals are expected to create tens of thousands of jobs.
- A new technology partnership will focus on AI, semiconductors, and quantum computing.
- Rolls-Royce will collaborate with Japan's Atomic Energy Agency on nuclear technologies.
The UK and Japan have agreed a significant multi-billion pound investment and technology partnership valued at over £18 billion ($24 billion), which Prime Minister Sir Keir Starmer stated will usher in a "new era of co-operation" between the two nations. The deals are projected to create tens of thousands of jobs.
Japanese firms are set to invest more than £9 billion in UK infrastructure and financial services, with an additional up to £9 billion allocated for UK offshore wind projects, expected to support 5.9 gigawatts of capacity. A new technology partnership will focus on critical areas including artificial intelligence, semiconductors, and quantum computing.
As part of the agreements, Rolls-Royce will collaborate with Japan's Atomic Energy Agency on developing next-generation nuclear technologies, and a separate technology agreement will link UK research and development and software expertise with Japanese manufacturing capabilities. Major Japanese companies such as Mitsubishi Estate, Mitsui Fudosan, and Nomura Real Estate have committed to spending billions over the next five years on infrastructure and real estate projects.
The deal comes as the UK economy faces challenges, with sluggish growth predicted and the Bank of England warning of potential inflation increases due to global conflicts. It is not yet clear how much of the announced investment represents new funding versus previously committed plans.