PHOENIX, AZ (March 5, 2026) — Amid increased international investment and to further strengthen economic and trade ties between Arizona and Japan, the Arizona Commerce Authority (ACA), Greater Phoenix Economic Council (GPEC), and Arizona State University (ASU) signed a Memorandum of Understanding (MOU) with the Japan External Trade Organization (JETRO), during a signing ceremony yesterday on March 4, 2026 in Phoenix, Arizona.

In addition to the MOU signing parties, attendees included a visiting delegation of more than 50 Japanese government, business, academia, and community leaders, as well as Arizona industry, economic development, education, government and community leaders.

The MOU aims to accelerate collaboration between Arizona and Japan in key industrial sectors such as semiconductors, R&D, and workforce development.

Key initiatives under the MOU include:

• Jointly organize events and programs to facilitate connections and expand opportunities
• Implement collaborative programs with Japan’s semiconductor ecosystem in areas such as joint research and human resource development
• Leverage networks to connect Japanese regional ecosystems with ASU and Arizona-based companies

The MOU will support technological exchange and human resource development partnerships involving Japanese companies, universities, and local governments, and will jointly organize events and programs to facilitate this collaboration among the four parties.

Through this partnership – the development of robust industrial ecosystems in both Japan and Arizona will be actively supported by leveraging JETRO’s nationwide network connecting regional industrial ecosystems in Japan, ASU’s research expertise in Arizona’s key industries, and ACA and GPEC’s network of companies across Arizona.

JETRO, ASU, ACA and GPEC have collaborated on various initiatives in recent years, including multiple delegation visits to both Arizona and Japan, including an Arizona delegation visit to Japan in December 2025. The number of Japanese companies with a presence in Arizona has steadily increased, and in 2024, trade volume between Japan and Arizona reached a record high, further solidifying the economic relationship between the two regions. In September, Arizona opened a new Arizona Trade and Investment office in Japan to increase economic collaboration and foreign direct investment opportunities between Arizona and Japan.

Since 2015, total trade between Arizona and Japan has more than doubled to roughly $3 billion. Last year, Japan served as Arizona’s no. 1 source for foreign direct investment, with 15 projects totaling $2.4 billion.

Arizona has emerged as a global leader in the semiconductor industry- since 2020, Arizona has attracted over 70 semiconductor expansions, representing over $214 billion in investment and roughly 28,000 high-quality jobs. Arizona’s semiconductor ecosystem is one of the most complete in North America with leading-edge fabs and suppliers, advanced packaging, R&D, and workforce development. Meanwhile, Japan continues to lead in materials and manufacturing equipment for advanced packaging, with semiconductor ecosystems developing across various regions of the country.

“This MOU signing marks an important milestone in strengthening Arizona’s partnership with Japan,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “Through this collaboration, we are deepening our shared commitment to advance innovation, attract investment and expand semiconductor collaboration opportunities, and we’re grateful to JETRO, GPEC, and ASU for their partnership.”

“As the relationship between Japan and Arizona grows, we’re excited for the opportunities presented by the MOU to coordinate new programming, research and business expansion,” said Christine Mackay, President & CEO of the Greater Phoenix Economic Council. “JETRO has been an excellent partner over the past several years, and through continued collaboration, our markets will find mutual progress in the development of advanced technologies.”

“Collaboration is extremely important in a time of rapid change and ASU is eager for the opportunity to provide its resources to the state of Arizona alongside the Arizona Commerce Authority and GPEC to advance this new opportunity with JETRO,” said Sally Morton, Executive Vice President for ASU’s Knowledge Enterprise. “This agreement puts together a team that has a track record of making an impact and together we will focus on maximizing the momentum established through the work of the past several years. ASU looks forward to being of service to Arizona and deepening our connections with colleagues in Japan.”

“We are honored to sign this memorandum of understanding,” said Akira Kajita, Chief Executive Director, Japan External Trade Organization (JETRO) Los Angeles. “Since 2022, JETRO has dispatched multiple missions to Arizona to assess the investment environment for Japanese companies in the semiconductor sector, supporting exchanges between Japanese firms and Arizona’s rapidly growing semiconductor ecosystem. With this memorandum, we strongly anticipate further technological innovation in the semiconductor back-end process field; an area  where Japan excels, as well as strengthening of the industrial foundation between Japan and the United States.”