New era of Saudi-Japan relations

RIYADH: Leading Japanese bank Mizuho Financial Group, Inc. and state-owned Saudi Arabian Oil Co. (Saudi Aramco) have signed a major agreement for business cooperation with an aim to support Japanese companies investing in the Kingdom. The move will go a long way in expanding ties between the Kingdom and Japan, especially in energy sector.

“With the memorandum of understanding, Mizuho, the sole Japanese bank to have an office in Saudi Arabia, will work more closely with the Kingdom and provide enhanced support to Aramco, which works to transform its business portfolio,” the Tokyo-based financial group said in a press statement, while referring to the visit of Deputy Crown Prince Mohammed bin Salman to Tokyo.