Japanese manufacturers are eyeing the ASEAN region, especially Vietnam, as an export base since the signing of the Trans-Pacific Partnership (TPP) in late 2015.
Asean is the region where they plan to pour more investments into.
A survey was conducted by the Mizuho Research Institute in February 2016, targeting 1,100 Japanese firms capitalised at 92,200 dollars or more.
Japanese manufacturers have shown their increasing interest in Vietnam with 53.5 per cent of them saying they choose Vietnam among the 10 Asean member states to invest in, up 4.9 per cent against last year.
When being asked where they plan to expand investments among the 12 TPP signatories, 12.8 of respondents named Vietnam. Japan and the US came second and third with 10.7 per cent and 4.9 per cent respectively.
Japanese manufacturers continue to pull out of China as its economy slows down. Only 76.4 per cent of them have bases in China, which is a two per cent drop from last year and the second decline in a row.