Tech giant Google to invest 100 billion yen ($690 million) in Japan through 2024, CEO Sundar Pichai said. The firm seeks to capitalize on the Asia-Pacific region’s growth despite macroeconomic uncertainties.
In an exclusive interview with TV Tokyo and Nikkei in Tokyo, CEO Pichai said the firm was committed to overall 100 billion yen in investment that began in 2021 and would continue through to 2024.
Google said the investment would be directed to submarine cable and human resource department, in addition to building its premier data center in Japan. The firm will construct the data center in Chiba Prefecture near Tokyo and plans to start operations there in 2023.
Besides increasing the convenience of internet services for customers, CEO Pichai said the firm plans to support the digital transformation of Japanese firms through its cloud computing business.
Pichai’s remarks arrive as the firm accelerates the streamlining of its business, as expectations for a recession grows. Google’s service demands grew due to the COVID-19 pandemic, driving the expansion of Alphabet, its parent firm.
However, its profit has declined for two consecutive quarters, through April-June, as inflation, the Russia-Ukraine war, and other factors weigh on its business. In July 2022, the firm decided to slow the pace of hiring until the year’s end.