Kan Kurihara, Director General of JETRO Madrid, shares his perspective on the growing depth of Japan-Spain business ties, from expanding investment and market opportunities to new areas of innovation and co-development. He discusses Spain’s evolving role as a strategic base for Japanese companies, the growing potential for Spanish businesses in Japan, and the sectors where closer collaboration could shape the next phase of the bilateral relationship.

Bridges: How would you assess the current momentum of Spain–Japan business relations, particularly regarding Japanese investment in Spain and Spanish companies’ growing interest in the Japanese market?

Kurihara: Japan–Spain business relations are not only enjoying strong momentum today, but are also entering a more strategic phase. Bilateral trade in goods and services reached a record €7.8 billion in 2024, continuing a decade-long trend of steady growth. At the same time, Japan has become the largest Asian investor in Spain, with cumulative investment totaling approximately €10.3 billion between 2010 and 2025.

Traditionally, the relationship was centered on trade and commercial operations. Today, however, cooperation has expanded into a much broader range of areas that are closely linked to the economic transformation of both countries, including mobility, renewable energy, power infrastructure, food, advanced manufacturing and digital technologies. Increasingly, Japanese companies view Spain not simply as a domestic market, but as a strategic platform for production, sales, technology development and service delivery across Europe, Latin America and North Africa.

At the same time, interest among Spanish companies in Japan continues to grow. Beyond traditional sectors such as food and beverages, apparel and financial services, more Spanish firms are exploring partnerships with Japanese companies in areas including renewable energy, digital technologies and life sciences. They are attracted not only by the size and sophistication of the Japanese market, but also by opportunities for joint development projects and collaboration in third-country markets. Most importantly, the relationship is becoming increasingly two-way, with companies from both countries seeking long-term strategic partnerships rather than purely commercial transactions.

Institutional developments are also providing important momentum. The Japan-EU Economic Partnership Agreement (EPA) and the Japan-EU Strategic Partnership Agreement (SPA) have strengthened the framework for cooperation, creating new opportunities not only in trade and investment, but also in areas such as economic security, innovation and technological collaboration. Together, these developments are helping to create an environment in which Japan and Spain can deepen cooperation across a wider range of strategic fields in the years ahead.

Spain is home to more than 400 Japanese companies and continues to attract investment across sectors such as mobility, renewable energy, food, infrastructure and advanced manufacturing. What makes Spain a compelling base for Japanese companies in Europe today, and can you share examples of recent Japanese investments or joint venture partnerships across key sectors?

Spain’s attractiveness as a business base for Japanese companies rests on four key strengths.

First, Spain has emerged as one of Europe’s leaders in the energy transition. As industries around the world seek to balance decarbonization with competitiveness, access to renewable energy and relatively competitive electricity costs is becoming an increasingly important factor in investment decisions, particularly for manufacturers.

Second, Spain offers a unique geographic advantage. In addition to providing direct access to the European single market, it has deep historical and economic ties with Latin America and is well positioned to serve as a bridge between Europe, Latin America and North Africa.

Third, Spain combines a strong industrial base with a highly skilled workforce. The country has developed competitive clusters in sectors such as automotive, food, energy, infrastructure and digital technologies, supported by a deep pool of engineering and technical talent.

Fourth, Spain offers both solid economic growth and a high quality of life. Alongside a sizeable domestic market, this creates an attractive environment for companies seeking to recruit and retain highly qualified professionals.

These advantages make Spain much more than a sales market. It is increasingly emerging as a location for innovation, engineering, service delivery and regional business operations. For example, NTT DATA opened a new innovation center in Barcelona in 2025, positioning it as a hub for co-creation with customers and partners in areas such as AI and digital technologies. Likewise, Hitachi Energy opened its European Operations Centre in Madrid in 2026 to coordinate complex energy projects across Europe. These investments highlight how leading Japanese companies are leveraging Spain as a strategic platform to support and strengthen their broader European operations.

Looking ahead, Spain’s importance is likely to continue growing, not only as a business base in Europe but also as a partner in creating new opportunities in next-generation industries. Increasingly, the relationship is evolving beyond market access toward long-term collaboration in innovation, technology and sustainable growth.

From JETRO’s perspective, which Spanish industries or companies show the strongest potential in Japan, and what qualities help Spanish businesses succeed in the Japanese market?

One of Spain’s strongest opportunities in Japan remains the food and beverage sector. Spanish products such as olive oil and wine have already established a strong presence in the Japanese market. At the same time, growing interest in Spanish gastronomy, particularly the culinary traditions of regions such as the Basque Country and Catalonia, is creating new opportunities to further enhance the visibility and value of Spanish brands. We believe that translating this growing appreciation for Spanish cuisine into stronger brand recognition can help generate additional demand for Spanish food products in Japan.

At the same time, we see significant potential in advanced sectors such as renewable energy and hydrogen, biotechnology and healthcare, digital solutions, and quantum technologies. This trend is also reflected in JETRO’s Invest Japan program. In recent years, the range of Spanish companies engaging with Japan has expanded beyond traditional industries to include firms active in renewable energy, hydrogen, quantum technologies and content-related businesses, illustrating the increasingly diverse opportunities for collaboration between the two countries.

Japan is a market where trust and long-term commitment matter. While market entry often requires time and patience, companies that succeed in building credibility and strong local relationships are well positioned to establish stable and sustainable businesses. We also see growing opportunities for Spanish companies to work with Japanese partners through open innovation, combining complementary strengths to develop new technologies, create new business models and unlock new market opportunities.

In this sense, the future potential of Japan–Spain business relations extends well beyond trade. Increasingly, it is about co-creation, long-term partnership and jointly pursuing new opportunities in technology, innovation and sustainable growth.

Where do you see the most promising opportunities for deeper Spain–Japan collaboration, and how is JETRO supporting companies on both sides as they build long-term partnerships?

We see significant opportunities for deeper Japan–Spain cooperation in the years ahead. Many of the sectors where Spain has developed significant strengths overlap with the 17 strategic fields under Japan’s Growth Strategy, including Quantum, AI, Digital, Life Sciences, Biotechnology, Hydrogen, Space, Fusion Energy and Food-tech. These are precisely the areas where closer collaboration between Japanese and Spanish companies, universities and research institutions is poised to deliver substantial value and shape the next phase of the bilateral relationship.

Japan’s recent participation as an associated partner in Horizon Europe, the EU’s flagship research and innovation programme, also creates new opportunities for Japan–Spain collaboration. Spain is home to a large number of universities, research centres and companies with extensive experience in Horizon Europe projects. The combination of Japan’s participation and Spain’s extensive project experience creates new opportunities for collaboration between Japanese and Spanish organizations, from joint development to real-world deployment.

Realizing these opportunities requires stronger connections between companies and innovation ecosystems in both countries. JETRO supports this effort through market intelligence, strategic business alliance development, startup collaboration programs and open innovation initiatives.

Trade and investment will remain an important foundation of Japan–Spain economic relations. At the same time, we see growing opportunities to foster long-term partnerships built on co-development, open innovation and collaboration in third-country markets. Japan and Spain are highly complementary in terms of technology, research capabilities and industrial strengths. By bringing these strengths together, the two countries are well positioned to address common challenges and create new opportunities for sustainable growth. In that sense, Japan–Spain cooperation is likely to become increasingly strategic in the years ahead.