Firms aiming to seize biz opportunities from Tokyo Olympics
July 23, 2017
TOKYO- Japanese companies are accelerating preparations to seize business opportunities arising from the 2020 Tokyo Olympics and Paralympics, hoping to pave the way for business growth even after the quadrennial events.
Private-sector companies are rushing to create innovative services and improve the convenience of people who will visit Japan for the 2020 Games.
"The mission for the business community is to realize expected economic effects," said Sadayuki Sakakibara, chairman of the Japan Business Federation, the largest Japanese business lobby, known as Keidanren.
The telecommunications industry has started demonstration tests for fifth-generation, or 5G, high-speed, large-volume wireless communications technology.
The 5G technology is expected to serve as key infrastructure for distributing high-definition broadcast and communications services in every aspect of life, including when traveling, industry sources said.
During the games period, the supply-demand balance for accommodation facilities is expected to be tight due to a surge in the number of visitors.
After the Diet, Japan's parliament, in June enacted into law a bill that sets rules for "minpaku" private lodging services across the country, an increasing number of companies plan to launch minpaku operations.
Major cybermall operator Rakuten Inc. announced last month that it will launch minpaku operations as early as January next year.
"We want to provide innovative services designed to connect people aiming to offer accommodation facilities with those hoping to utilize them," a Rakuten official said.
Among other businesses, apartment business operator Leopalace21 Corp. is also considering an entry into the minpaku market.
The hotel industry aims to seize business chances as well.
Last year, Prince Hotels Inc. rebuilt Grand Prince Hotel Akasaka, a closed central Tokyo hotel formerly known as Akasaka Prince Hotel, and plans to renovate eight other hotels in Tokyo by 2020.
In fiscal 2019, it plans to open reasonable hotels under the brand of Prince Smart Inn to offer accommodation for 10,000 yen per night per room.
In the taxi industry, the number of taxi vans capable of carrying many people is expected to increase sharply. (Jiji Press)
Latest Videos
- GEORGE SOROS BLASTED THE U S FOR SUPPORTING ISRAEL ON NOT WORKING WITH HAMAS
- WIKILEAKS REVELATIONS SHOW U S ‘IGNORED’ TORTURE FROM THE WAR IN IRAQ
- THE ROOTS OF THE ISRAEL PALESTINE CONFLICT
- TUCKER CARLSON QUESTIONS U.S SUPPORT FOR ISRAEL WAR
- RFK Jr TO RUN FOR PRESIDENT AS INDEPENDENT, DECLARING INDEPENDENCE FROM THE TWO POLITICAL PARTIES
- JAPANESE VIROLOGIST SAYS OMICRON MAY HAVE BEEN MANUFACTURED
- JAPANESE VIEW & FILIPINO BEAUTY
