Union Bank of Taiwan recently received approval from the Financial Supervisory Commission to open a branch in Tokyo. This important move shows the bank’s dedication to supporting Taiwan-Japan business flows. The new Tokyo branch will allow Union Bank to better serve Taiwanese companies operating in Japan.
This expansion comes amid a wave of growing industrial investments in Japan. One major driver of this growth is TSMC’s new semiconductor plant in Kumamoto. As a result, Taiwanese banks are eager to follow their clients overseas and offer more localized financial services. Union Bank already maintains representative offices in Ho Chi Minh City and Hanoi. However, Japan’s political and economic stability made it an attractive location for further expansion.
The bank said it plans to use the Tokyo branch to strengthen its international operations. It will also improve financial support for Taiwan-Japan business flows. Union Bank aims to enhance its engagement with businesses that rely on efficient cross-border banking services.
Currently, eight Taiwanese banks operate in Japan, including well-known names like Bank of Taiwan, First Commercial Bank, and Mega Bank. These banks play a key role in facilitating trade and investments between the two countries. Over the past few years, economic ties between Taiwan and Japan have grown considerably. This growth is especially strong in high-tech and semiconductor industries, which are vital sectors for both economies.
According to the International Trade Administration, bilateral trade between Taiwan and Japan reached NT$2.25 trillion, or about US$75.7 billion, in 2023. This level of trade makes Japan Taiwan’s third-largest trading partner. Such strong economic links highlight the importance of reliable banking services. Efficient financial support is essential to maintain and grow Taiwan-Japan business flows.
Union Bank’s expansion into Tokyo also reflects a broader trend. Taiwanese banks are increasing their presence abroad to better meet their clients’ needs. As Taiwanese companies invest more overseas, banks must offer localized and timely financial services. This helps businesses manage risks and seize opportunities in new markets.
In summary, Union Bank of Taiwan’s new Tokyo branch will boost its overseas network and strengthen Taiwan-Japan business flows. The branch comes at a crucial time when cross-border trade and investments between Taiwan and Japan are rising rapidly. This expansion signals the bank’s commitment to supporting its clients and growing alongside them.
