Major business deals closed during PM Luxon's visit to Japan

“This is a game-changing deal for Rocket Lab. It cements the company and New Zealand’s reputation as a global force in space innovation,” Luxon remarked.

Significant business deals have been closed during Prime Minister Christopher Luxon's visit to Japan this week, covering sectors such as space, renewable energy, and investment.

“Commercial deals like this demonstrate that we don’t just export high-quality agricultural products to Japan, but also our world-class technology, expertise, and innovation,” Mr. Luxon stated.

On Tuesday, aerospace company Rocket Lab signed the biggest single launch deal in its history with Japanese company Synspective. This agreement includes 10 dedicated launches for Synspective from Rocket Lab’s site in Mahia.

“This is a game-changing deal for Rocket Lab. It cements the company and New Zealand’s reputation as a global force in space innovation,” Luxon remarked.

Additionally, a significant investment deal was concluded with Japanese company Toda Corporation, which will invest in Queenstown’s luxury hotel industry via Auckland-based Coherent Hotel Limited.

“Tourism is an important source of jobs for New Zealand, and the investment by Toda Corporation is very welcome,” Luxon said.

There were also two notable investment deals in the renewable energy sector.

“The deal with Christchurch-based Fabrum, a leading player in the green hydrogen industry, is very significant. Fabrum will supply its proprietary liquid hydrogen storage system to Japanese company Toyota," Luxon announced.

"Moreover, Japan’s Obayashi Corporation will acquire a 50 percent stake in Kawerau-based Eastland Generation, valued at approximately $500 million, to drive further growth in sustainable energy development and innovation in New Zealand," he added.

“Each of the businesses that have joined me on this visit represent the wealth of ambition and innovation of New Zealand’s private sector. It is a real privilege to be able to celebrate these successes in Japan with these businesses,” Luxon concluded.