Japanese firm P.Imes expands in PH with P1.8B investment

Japanese manufacturing company P.Imes Corp. is strengthening its presence in the Philippines with an additional PHP1.8 billion investment aimed at expanding its production of medical equipment suspension assemblies.

The Philippine Economic Zone Authority (PEZA) announced the expansion, which will take place at the Cavite Economic Zone and is expected to generate over 200 new jobs. PEZA Director General Tereso Panga and P.Imes President Tetsuya Matsusaki formalized the agreement on February 13.

“The expansion project is a testament to the Philippines’ strong position as a hub for advanced manufacturing. We welcome this investment as it contributes to economic growth and job creation,” PEZA said in a statement.

Beyond increasing production, P.Imes will collaborate with universities to develop local talent, providing training in prototyping and manufacturing innovation.

As of December 2024, P.Imes has invested PHP3 billion in the Philippines. Japan remains the top foreign investor in PEZA, with 800 registered firms investing a total of PHP500 billion, employing 300,000 Filipinos, and contributing USD15 billion in exports last year.