"The World and Japan" Database (Project Leader: TANAKA Akihiko)
Database of Japanese Politics and International Relations
National Graduate Institute for Policy Studies (GRIPS); Institute for Advanced Studies on Asia (IASA), The University of Tokyo

[Title] Joint Fact Sheet for Japan-U.S. Investment

[Place] Tokyo
[Date] October 28, 2025
[Source] Ministry of Foreign Affairs of Japan
[Notes]
[Full text]

Joint Fact Sheet for Japan-U.S. Investment

At the occasion of President Trump's visit to Japan, the Government of Japan and the Government of the United States of America welcome the interest from companies of both countries to launch projects in the areas below;

[ } shows the total scale of business (investment, revenue, etc.)

1. Energy

- Westinghouse

Construction of AP1000 nuclear reactors and small modular reactors (SMRs). Considering involvement of Japanese suppliers and operators, such as Mitsubishi Heavy Industries, Toshiba Group, and IHI. [up to 100 Billion dollars]

- GE Vernova / Hitachi

Construction of SMRs (BWRX-300). Considering involvement of Japanese companies, such as Hitachi GE Vernova. [up to 100 Billion dollars]

- Bechtel

Provide project management, engineering, procurement, and construction services for large-scale power and industrial infrastructure, including power plants, substations, and transmission systems that support reliable energy delivery for mission-critical facilities. Considering involvement of Japanese companies. [up to 25 Billion dollars]

- Kiewit

Provide engineering, procurement, and construction services. Considering involvement of Japanese companies. [up to 25 Billion dollars]

- GE Vernova

Supply large-scale power equipment such as gas turbines, steam turbines, and generators to grid electrification and stabilization systems, including high-voltage direct current (HVDC) and substation solutions for mission-critical facilities. Considering involvement of Japanese companies. [up to 25 Billion dollars]

- SoftBank Group

Engineer and develop the specification, design, procurement, assembly, integration, operations, and maintenance for the building of large-scale power infrastructure. [up to 25 Billion dollars]

- Carrier

Supply thermal cooling systems and solutions, including chillers, air handling systems, and coolant distribution units essential for power infrastructure. Considering involvement of Japanese companies. [up to 20 Billion dollars]

- Kinder Morgan

Provide natural-gas transmission and other power infrastructure services. Considering involvement of Japanese companies. [up to 7 Billion dollars]

2. Power Development for AI

- NuScale / ENTRA1 Energy

Considering power generation (gas-thermal, nuclear) for AI.

3. Strengthening AI Infrastructure

- Toshiba

Based on the agreement of various conditions related to business and technology, pursue supply of electrical power modules, data center transformers, and other power-generation substations such as transformers, to contribute to strengthening supply chains in the U.S.

- Hitachi

Structuring projects in areas such as power infrastructure, including HVDC power transmission links and substations, as well as transformers for data centers, to contribute to strengthening supply chains.

- Mitsubishi Electric

Supply of Power Station Systems such as generators, transmission and distribution systems, etc. and equipment for data centers such as UPS, Chillers (IT cooling), Substation systems, Emergency Diesel Generator, etc. to contribute to strengthening supply chains in the U.S. [up to 30 Billion dollars]

- Fujikura

Supply of optical fiber cables.

- TDK

Pursue supply of advanced electronic components and power modules that are essential for AI infrastructure, to contribute to strengthening supply chains in the U.S.

- Murata Manufacturing

Providing cutting-edge electronic components such as high-quality multilayer ceramic capacitors (MLCCs), inductors, and EMI suppression filters, and advancing development of battery modules for backup power and energy storage systems (ESS) with expertise in lithium-ion batteries, and pursuing supply of backup power, components for ESS (ex. AC-DC/DC-DC converter modules, lithium-ion products, battery modules), and advanced electronic components to contribute to strengthening supply chains in the U.S. [up to 15 Billion dollars]

- Panasonic

Supply of energy storage systems, and other electronics, to contribute to strengthening supply chains in the U.S. [up to 15 Billion dollars]

4. Critical Minerals etc.

- Falcon Copper

Construction of a copper smelting and refining facility located in the western United States. Considering involvement of Japanese suppliers and off-takers. [2 Billion dollars]

- Carbon Holdings

Construction of a greenfield ammonia and urea fertilizer facility. Considering involvement of Japanese suppliers and off-takers. [up to 3 Billion dollars]

- Element Six Holdings

Construction of a high-pressure, high-temperature (HPHT) diamond grit manufacturing facility. Considering involvement of Japanese suppliers and off-takers. [500 Million dollars]

- Max Energy

Completion of the shipping routes in the southern U.S., including dredging and widening to accommodate 100,000-ton crude oil vessels and facilitate export of U.S. crude oil. Considering involvement of Japanese suppliers and off-takers. [600 Million dollars]

- MitraChem

Construction of a lithium-iron-phosphate production facility. Considering involvement of Japanese suppliers and off-takers. [350 Million dollars]

The Government of Japan and the Government of the United States of America express strong expectation for the advancement of various business efforts that contribute to strengthening supply chains in both countries in the future, including projects applicable to the 550-billion-dollar strategic investment determined in the Memorandum of Understanding between the two countries on September 4, 2025.