Profitability and investment intentions among Swedish companies operating in Japan are positive and in line with results from the previous year. The perceived business climate outlook remains encouraging, with Swedish companies cautiously optimistic about the future.

Japan can be a very challenging market for foreign companies to enter; however, we are currently seeing a few major trends shaking up conventional market logic and creating key opportunities for Swedish companies to gain a foothold and expand in the market.

  • Partnership for digitalisation. One key area where Japanese companies are struggling is in digitalising processes and increasing productivity. Swedish companies are well positioned in this area, with a proven track record of developing and implementing cutting-edge, innovative digital solutions.
  • Driving sustainability. Another area where Japan is struggling to keep up with the global competition is within sustainability and environmental credentials. Swedish companies, on the other hand, have long established a strong reputation for prioritising high environmental performance as a core aspect of their competitive advantage.
  • M&A is on the rise and getting easier. Japanese companies have traditionally exhibited a reluctance towards mergers and acquisitions (M&A). However, in recent years, the number of M&A deals in Japan has been gradually rising. Acquiring an established and trusted local player and enhancing it with a sharper product and/or service offering can, if done right, be a major market-presence booster for Swedish companies in Japan.

We hope the insights provided in this report will be valuable for your business in the coming year. Please feel free to reach out to any member of Team Sweden with ideas, questions, thoughts, or requests – we are always here to support the success of Swedish businesses in any way we can.

Please download the report to fully overview the results with a detailed analysis. 


Business Climate Surveys aim to map the opportunities and challenges that Swedish companies face when doing business around the globe.

In Japan, the survey has been conducted annually since 2018, and the data collection for this year’s iteration was conducted in March of 2024, with follow-up interviews conducted during April and May.

This year, Team Sweden identified 137 Swedish companies potentially present in Japan, of which contact information could be acquired for 109. Of the 109 contacted companies, responses were received from 77, implying a response rate of 71 per cent.

Lastly, we extend our sincere gratitude to all participating companies, respondents, and experts who contributed to this year’s survey. Your input, as always, has been invaluable.