– Designed to Promote Knowledge-sharing Across Asia, Building on Successful Examples of Industry-university Collaboration in Research Undertaken in Thailand and Vietnam since 2018 –
Nomura Real Estate Development Co., Ltd. (hereinafter "Nomura"), based in Tokyo, has launched a Knowledge Exchange Program, an initiative that brings together an internship program for overseas university faculty members and students and an employee exchange program (designed to promote exchanges between employees of overseas subsidiaries and head office employees).
The Knowledge Exchange Program invites professors and internship students from overseas universities as well as employees of overseas subsidiaries to Japan, bringing them altogether at once to join and exchange with Nomura's head office employees. This is a new initiative that builds on a series of research projects the company has undertaken since 2018 in collaboration with some universities in Thailand and Vietnam as well as with Japan Women's University in Tokyo that has a proven track record in research on urban living spaces in Asian countries. For Nomura, the program provides an opportunity to discover potential needs in overseas markets. For overseas students and the company's overseas employees, it provides an opportunity to deepen their knowledge through exchanges and interactions with those from different countries and generations.
In a bid to capture long-term social changes in countries where Nomura operates and discovers potential needs that may arise from such changes, the company began engaging in research collaborations with universities in 2018. It has been utilizing research findings to add value to properties, for instance, by reflecting them in Nomura's overseas projects.
The company's current Mid- to Long-term Business Plan announced in April 2022 calls for expanding overseas business as a growth driver. In order to further accelerate overseas business development, Nomura believes it is crucial to develop a "new form of value creation." It is based on this recognition that it has launched the Knowledge Exchange Program.
By pursuing further research collaborations with universities and implementing the Knowledge Exchange Program on an ongoing basis, Nomura will continue to promote knowledge and technology sharing across national boundaries and generate synergies in its Asian operations. The company will also strive to offer greater additional value to its customers and local communities by gaining a better understanding of local customs and needs.
Photo1: Group photo of participants in the Knowledge Exchange Program in 2023
– Knowledge Exchange Program
The Knowledge Exchange Program is an initiative that brings together an internship program for overseas university faculty members and students and an exchange program for Nomura's overseas employees. It is designed to promote knowledge and technology sharing among participants with different nationalities and backgrounds, generate synergies, and deepen the company's understanding of the local customs and needs of each country.
In 2023, which is the first year of the program, Nomura invited a total of 11 overseas participants to Japan, including two professors and four students from its Thai partner universities — i.e., the School of Architecture and Design, King Mongkut's University of Technology Thonburi (KMUTT) and the Faculty of Architecture, Kasetsart University (KU) — as well as five employees of Nomura Real Estate Asia Pte. Ltd., Nomura Real Estate (Thailand) Co., Ltd., and Nomura Real Estate Vietnam Co., Ltd.
Nomura will continue to utilize such synergy opportunities to overcome business challenges, including the obsolescence of property plans due to changes in customer needs and the intensifying competition resulting from a deterioration in the real estate market.
– Joint research projects with overseas universities in the past five years
From 2018 through 2023, Nomura has undertaken a total of nine joint research projects with three Thai universities in a bid to capture long-term social changes in Thailand and discover potential needs that may arise from such changes. The collaborative research projects hitherto carried out in Thailand are as shown in the table below. In addition, in 2022, the company reached agreement with two Vietnamese universities — i.e., the Hanoi University of Civil Engineering (HUCE) and Hanoi Architectural University — to launch joint research. Findings from research projects in Thailand have been reflected in property plans for Nomura's overseas projects, contributing to enhancement of property value and leading to other achievements such as the earning of an award from a university and the development of design guidelines.
Table: Joint research projects having been carried out by the end of March, 2023
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About Nomura's overseas projects
The company's current Mid- to Long-term Business Plan has positioned overseas business as one of growth areas, calling for investing some 550 billion yen in overseas projects and raising the share of overseas business in overall business profit to 15% or more, both by the end of FY2031 (April 2030 through March 2031). Since the launch of overseas business, Nomura has continued to increase the number of overseas projects, capitalizing on various knowledge and expertise — including the ability to build quality into projects and skills for project and process management — accumulated through years of experience in the development of residential and office properties in Japan, with the company's greatest advantage being its capabilities to deliver added value to its local partners and consumers in each country it operates in. Going forward, Nomura will continue to expand its business and acquire new project opportunities in the countries where the company has already established a foothold — such as Thailand, Vietnam, the Philippines, and China — and seek to achieve sustainable growth of its overseas business as a whole.
For reference: Projects undertaken in Thailand
Source: Nomura Real Estate Development Co., Ltd.