Memorandum of Understanding Signed between Arizona State University, Arizona Commerce Authority, Greater Phoenix Economic Council and JETRO －Promoting Collaboration in R&D and[...]

In an agreement aimed at strengthening collaboration in key Arizona industrial sectors such as semiconductor manufacturing, a Memorandum of Understanding (MOU) has been finalized between the Japan External Trade Organization (JETRO), Arizona State University (ASU), the Arizona Commerce Authority (ACA), and the Greater Phoenix Economic Council (GPEC) on March 4, 2026.

The number of Japanese companies entering Arizona has steadily increased and in 2024, trade volume between Japan and Arizona reached a record high, further solidifying the economic relationship between the two regions. JETRO, ASU, a leading public research university, ACA, the state's investment promotion agency, and GPEC, an economic development organization in the state's largest metropolitan area, have previously collaborated on various initiatives in recent years, including mission dispatches.

Arizona has emerged as a strategic hub for the semiconductor industry, driven by strong industry-government-academia collaboration, particularly in R&D and advanced packaging capabilities in the semiconductor back-end process. Japan, meanwhile, continues to lead in materials and manufacturing equipment for advanced packaging, with semiconductor ecosystems developing across various regions of the country.

Looking ahead, the newly signed MOU will accelerate collaboration between Japan and Arizona in R&D, human resource development, and workforce development in key industrial sectors, including the semiconductor field, which is a driving force of the state's industry. It will support technological exchange and human resource development partnerships involving Japanese companies, universities, and local governments, and will jointly organize events and programs to facilitate this collaboration among the four parties.

Through this partnership - leveraging JETRO's nationwide network connecting regional industrial ecosystems in Japan, ASU's research expertise in Arizona's key industries, and ACA and GPEC's broad network of companies across the state - the development of robust industrial ecosystems in both Japan and Arizona will be actively supported.

• Jointly organizing symposiums, seminars, conferences, business missions, and other networking events
• Implementing collaborative programs with Japan's domestic semiconductor ecosystem in areas such as joint research and human resource development
• Leveraging networks to connect Japanese regional ecosystems with ASU and Arizona-based companies

An illustration of the collaboration between JETRO, ASU, ACA and GPEC.

"This MOU signing marks an important milestone in strengthening Arizona's partnership with Japan," said Sandra Watson, President and CEO of the Arizona Commerce Authority. "Through this collaboration, we are deepening our shared commitment to advance innovation, attract investment and expand semiconductor collaboration opportunities, and we're grateful to JETRO, GPEC, and ASU for their partnership."

"As the relationship between Japan and Arizona grows, we're excited for the opportunities presented by this MOU to coordinate new programming, research and business expansion," said Christine Mackay, President & CEO of the Greater Phoenix Economic Council. "JETRO has been an excellent partner over the past several years, and through continued collaboration, our markets will find mutual progress in the development of advanced technologies."

"Collaboration is extremely important in a time of rapid change and ASU is eager for the opportunity to provide its resources to the state of Arizona alongside the Arizona Commerce Authority and GPEC to advance this new opportunity with JETRO", said Sally C. Morton, Executive Vice President for ASU's Knowledge Enterprise. "This agreement puts together a team that has a track record of making impact and together we will focus on maximizing the momentum established through the work of the past several years. ASU looks forward to being of service to Arizona and deepening our connections with colleagues in Japan."

"We are honored to sign this memorandum of understanding. Since 2022, JETRO has dispatched multiple missions to Arizona to assess the investment environment for Japanese companies in the semiconductor sector, supporting exchanges between Japanese firms and Arizona's rapidly growing semiconductor ecosystem," said Akira Kajita, Chief Executive Director, Japan External Trade Organization (JETRO) Los Angeles. "With this memorandum, we strongly anticipate further technological innovation in the semiconductor back-end process field; an area in where Japan excels, as well as strengthening of the industrial foundation between Japan and the United States."

About Arizona State University Arizona State University has developed a new model for the American Research University, creating an institution that is committed to access, excellence and impact. ASU measures itself by those it includes, not by those it excludes. As the prototype for a New American University, ASU pursues research that contributes to the public good, and ASU assumes major responsibility for the economic, social and cultural vitality of the communities that surround it. Learn more about ASU here . About Arizona Commerce Authority The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on X @azcommerce . About Greater Phoenix Economic Council The Greater Phoenix Economic Council (GPEC), globally recognized as a top economic development organization (EDO), works to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix. A data-driven regional EDO, GPEC works with 22 member communities, Maricopa and Pinal counties and more than 200 private investors to accomplish its mission and serve as a strategic partner to companies across the world as they ex¬¬pand or relocate to Greater Phoenix. Over the past 36 years, GPEC has fueled the regional economy by helping over 1,075 companies, creating more than 195,000 jobs and more than $76.5 billion in capital investment. Greater Phoenix is in a relentless pursuit of innovative and entrepreneurial-focused companies looking to thrive and scale in a vibrant, dynamic region. There is an undeniable spirit about Greater Phoenix; one rooted in strength, collaboration and resilience. Greater Phoenix is Greater Together. For more information about GPEC and how we can assist your businesses, visit www.gpec.org. . About Japan External Trade Organization JETRO is a policy implementation organization that aims to contribute to the further development of Japan's economy and society through trade and investment promotion and research on developing countries. With full use of its domestic and international network of more than 70 overseas offices and approximately 50 domestic offices including the Headquarters (Tokyo), the Osaka Headquarters, the Institute of Developing Economies and domestic offices, we work actively and efficiently to: (1) promote investment in Japan, (2) support the creation of open innovation with overseas companies, (3) promote export of agricultural, forestry, and food products, and (4) support overseas expansion of Japanese companies, including mid-tier enterprises and SMEs. We also contribute to Japan's business activities and trade policy through surveys and research.