Department of Trade and Industry (DTI) Secretary Alfredo Pascual celebrated the grand opening of Nitori’s first Philippine store in Fort Bonifacio, Taguig City on Thursday.
Pascual said this represents a significant DTI investment promotion achievement, as the arrival of Nitori, Japan’s leading furniture and home furnishing chain, boosts the economic partnership between the two countries.
The Board of Investments (BOI) and the Philippine Trade and Investment Center-Tokyo (PTIC-Tokyo) began engaging with Nitori in 2015 as a VIP buyer at the Manila FAME trade exhibition. The PTIC-Tokyo continued discussions, exploring trade opportunities and potential investments in the Philippines.
Meanwhile, the BOI solidified the relationship by facilitating a meeting at Nitori’s headquarters during a strategic investment promotion mission to Japan in November 2022.
Nitori affirmed its commitment to the Philippines with a letter of intent signed during the visit of President Ferdinand Marcos Jr. to Japan in December 2023.
Pascual expressed his support for Nitori’s expansion plans, which are set to create jobs and cater to the growing Philippine consumer base.
He also encouraged Nitori to consider the Philippines as a sourcing hub to position the country’s economy strategically within the region.