The Yuchengco Group of Companies has been a pillar of Philippine business for decades, with a diverse portfolio of ventures spanning banking, insurance, renewable energy, education and more. Throughout its history, YGC has recognized the importance of solidifying international connections, particularly with Japan, which has been a significant partner in the Philippines’ economic growth.
“Our partnership with Japan is a cornerstone of our global strategy. My father, the late Ambassador to Japan Alfonso T. Yuchengco, saw the importance of Japan in the global economic landscape, which has been the guiding principle for YGC ever since,” YGC Chairperson Helen Yuchengco Dee said.
Today, YGC continues to build on these partnerships, driving innovation, collaboration and shared prosperity across borders.
Connecting people and markets
Rizal Commercial Banking Corp., the Philippines’ fifth-largest privately owned bank, is the flagship financial services institution of YGC and a stalwart in the Philippine banking sector. The 64-year-old bank has been fostering strong economic ties with Japan, a legacy deeply rooted in the vision of the bank’s founder Yuchengco. Recognizing the immense potential of this partnership as evidenced by several decades of successful collaborations with Japanese companies, the bank continues to strengthen its ties with Japan to drive innovation and continue providing top-tier financial services that meet the evolving needs of the global market.
Our partnership with Japan is a cornerstone of our global strategy. My father, the late Ambassador to Japan Alfonso T. Yuchengco, saw the importance of Japan in the global economic landscape, which has been the guiding principle for YGC ever since.
Helen Yuchengco Dee, Chairperson of Yuchengco Group of Companies
A recent and notable collaboration is with Sumitomo Mitsui Banking Corp., one of Japan’s premier financial institutions. This strategic alliance saw SMBC acquire a 20% stake in RCBC, signaling strong confidence in the bank’s strategic vision and operational prowess. RCBC further solidifies Sumitomo Mitsui’s position as the preferred banking partner for Japanese companies in the Philippines. The alliance has played a pivotal role in the expansion of its core business in the corporate, small and midsize enterprise, consumer and retail market segments. Additionally, it creates opportunities for business-matching relationships between RCBC’s Philippine-based clients and SMBC’s global market network, establishing a bridge for local players to connect to the international market and vice versa.
Building on this, RCBC, SMBC and the Philippine Economic Zone Authority have joined forces to bolster investment opportunities between Japan and the Philippines. This strategic partnership facilitates seamless entry for Japanese investors into the Philippine market, catalyzing economic growth and nurturing cross-border collaborations. RCBC President and CEO Eugene S. Acevedo noted that, “With this tripartite partnership, we hope to bring more Japanese investors into the Philippines that will contribute to the country’s economic development.”
Securing resilience
Another cornerstone of YGC’s diverse portfolio is Malayan Insurance Co. (MICO), one of the leaders in the nonlife insurance industry in the Philippines, which has maintained a long-standing alliance with Tokio Marine, a leading nonlife insurance provider and Japan’s oldest general insurer. Founded in 1879, Tokio Marine first entered the Philippine market in 1964 through a joint venture with Malayan Insurance, and the companies are marking the 60th year of this well-established relationship this year.
This alliance with Tokio Marine leverages the Japanese firm’s expertise, enhancing MICO’s capabilities and expertise. One of Tokio Marine’s policies is “To Be a Good Company,” and the same spirit of supporting customers and society in times of need has been shared by both for many years because they are dedicated to providing clients with the top-notch service they deserve. The synergy the Tokio Marine-MICO alliance brings is important for the growth and expansion of MICO as it utilizes a global network and resources that enable Tokio Marine to provide services to the Philippine market.
By offering comprehensive risk management solutions and unwavering support through this partnership, Malayan Insurance has established itself as the preferred insurer for Japanese businesses and multinationals operating in the Philippines.
Incubating innovation
Established in 1959 as the pioneer investment bank in the Philippines, House of Investments Inc. has since transformed into a diversified investment holding and management firm that plays a key role within YGC. Within HI, strategic synergies with Japanese partners have propelled transformative initiatives across various sectors, from energy and pharmaceuticals to infrastructure development.
In the realm of real estate, HI’s partnership with Sojitz in San Lorenzo Ruiz Investment Holdings and Services Inc. has resulted in the construction of The Yuchengco Centre, an architectural landmark revitalizing Makati, a key city and business district in the Philippines. This project exemplifies YGC’s dedication to driving progress and development in the nation.
We are very pleased to be able to contribute to renewable energy in the Philippines, which is experiencing remarkable development, and more importantly, to participate in this project as a business partner with PGEC.
Jiro Taniyama, Taisei Executive Vice President
In health care, HI-Eisai Pharmaceutical Inc. — an international joint venture incorporated in July 1974 by Yuchengco of YGC and Yuji Naito, the former chairman of Eisai Co. — testifies to the enduring bond between the two entities. By collaborating on the development and distribution of life-saving treatments, both companies are working together to improve health and well-being in the Philippines.
In the energy sector, HI’s partnership with Kyuden International Corp. in Petro-Green Resources Corp. has driven the development of sustainable energy solutions, aligning with global efforts toward a greener future and reinforcing YGC’s commitment to environmental stewardship.
Driving sustainable growth
PetroEnergy Resources Corp. continues to showcase YGC’s commitment to sustainable development through clean energy generation and strategic partnerships with Japanese firms. Taisei Corp.’s 2024 investment in Rizal Green Energy Corp., a subsidiary of PERC’s renewable energy unit PetroGreen Energy Corp., highlights the demand for renewable energy to power the nation’s progress.
“We are very pleased to be able to contribute to renewable energy in the Philippines, which is experiencing remarkable development, and more importantly, to participate in this project as a business partner with PGEC. We are looking forward to the synergies that this project will generate in the business of Taisei and PGEC led by the Yuchengco Group,” Taisei Executive Vice President Jiro Taniyama said.
In 2022, when PGEC entered a partnership with Kyuden International, the overseas investment arm of Japan’s Kyushu Electric, it laid the groundwork for new opportunities in clean and efficient energy solutions. KIC’s 25% stake in PGEC has already paved the way for new renewable energy projects in the country aimed at contributing to the Philippines’ transition to a net-zero future. YGC’s diverse portfolio of companies continues to thrive through its dynamic Japanese partnerships, demonstrating the transformative power of international cooperation, and in turn, driving economic growth and social progress across borders. As YGC looks to the future, it remains grounded in its rich connections with Japan and other global partners.
