Photo/Illutration Hisashi Goto, left, president of Fukuoka Financial Group Inc., and Hsiao Chung-mao, a senior official of CTBC Financial Holding Co. responsible for the company’s cross-border business in Japan (Hironori Kato)

A major regional bank group in Kyushu signed an agreement with a leading Taiwanese financial entity to smooth the way for companies from Taiwan to do business in southern Japan.

Fukuoka Financial Group Inc. (FFG) teamed up Dec. 19 with CTBC Financial Holding Co. (CTBC Holding) following the expansion of Taiwan Semiconductor Manufacturing Co. (TSMC) into Kumamoto Prefecture.

“Kyushu has become a hub for chip-making corporations,” noted Hisashi Goto, president of FFG, which consists of four banks including the Bank of Fukuoka and Kumamoto Bank, during a news conference. “Our partnership will make possible a range of cooperation between businesses from Taiwan and Kyushu.”

Working together, FFG and CTBC Holding are expected to hold lectures on the Taiwanese economy and semiconductor chips and put enterprises in Kyushu and Taiwan in touch with one another.

Hsiao Chung-mao, a senior CTBC Holding official responsible for the company’s cross-border business in Japan, said support programs such as land purchases and local staff employment are essential for Taiwanese companies planning to set up shop in Kumamoto Prefecture.

“We have been lending a helping hand to Japanese corporations wanting to make forays into Taiwan,” said Xiao. “We will be contributing to investments in Japan together, with a spark provided by TSMC.”

CTBC Holding and the Bank of Fukuoka started joining forces in 2016. FFG signed an upgraded partnership with CTBC Holding, hoping to “make our relationships a step deeper,” according to Goto.

Founded in May 2002, CTBC Holding is headquartered in Taipei and has a declared total asset value of 34.372 trillion yen ($258.99 billion).

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