The UK and Japan agreed new partnerships on economic security and frontier technologies, alongside commercial commitments that the UK said could deliver more than £18bn ($24.17bn) in economic gains and tens of thousands of jobs.
Japanese Prime Minister Sanae Takaichi and UK Prime Minister Keir Starmer met in London to launch the Japan-UK Leaders’ Joint Declaration on Economic Security Cooperation and the Japan-UK Frontier Technology Partnership, while backing faster progress on the Global Combat Air Programme (GCAP).
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The UK government said the wider package includes more than £9bn ($12bn) in inward investment across infrastructure and financial services and up to £9bn ($12bn) for offshore wind, together expected to create tens of thousands of jobs.
“These landmark agreements will bring multibillion pound investment into the UK, creating tens of thousands of new jobs and driving new developments,” Starmer said in a statement published before the meeting with his Japanese counterpart.
“As G7 economies and close security partners, we are working together with Japan on some of the most innovative technology in the world, harnessing the best of British and Japanese research and industry to deliver growth and security to every corner of the United Kingdom,” he added.
According to the statement by Takaichi’s office on 14 June, the economic security declaration commits both countries to closer coordination on supply chain resilience, critical minerals, investment screening and responses to economic coercion.
Both leaders voiced concern over export restrictions on critical minerals and other materials that could disrupt global supply chains. Takaichi said Japan and the UK have advanced cooperation to a level that “could even be described as ‘quasi-allies’”.
The frontier technology pact expands cooperation in artificial intelligence, semiconductors, quantum, cybersecurity, civil nuclear, fusion, space and Beyond 5G/6G.
Among the concrete outcomes, the two sides launched a joint call for research proposals on Beyond 5G/6G, agreed a coordinated innovation funding scheme and signed industry and institutional memoranda in cyber defence, semiconductors, offshore wind, fusion and atomic energy.
The UK said Japanese investors had set out a five-year investment pipeline worth more than £9bn ($12bn).
That includes £2bn ($2.68bn) from Mitsubishi Estate, £3.8bn ($5.1bn) from Mitsui Fudosan, £500mn ($671m) from Nomura Real Estate, and a £3bn ($4bn) deployment ambition from Mizuho Financial Group.
In life sciences and manufacturing, Eisai will invest £48m ($64.4) in Hatfield and Hitachi Energy UK will invest more than £18m ($24m) in Stafford while creating at least 500 jobs over five years, including 100 roles in Glasgow.
In clean energy, an offshore wind compact could unlock up to £9bn ($12bn) of Japanese investment to support 5.9GW of floating offshore wind projects, including Ossian, Green Volt and Erebus.
On defence, the leaders agreed to accelerate GCAP by supporting the signing of the next contract between GIGO and Edgewing by the end of June.
They also welcomed a new Defence Capability and Industrial Council to deepen industrial cooperation.
Takaichi also raised concern over planned UK tariffs on Japanese steel, her press office said.
