Mitihoon – Krungsri (Bank of Ayudhya PCL and its business units), in collaboration with Mitsubishi UFJ Financial Group (MUFG)—Japan’s largest financial institution and one of the world’s leading financial groups—Department of Trade and Industry (DTI) of the Philippines, and Security Bank Corporation (Security Bank) signed a Memorandum of Understanding (MOU) agreement to boost the startup ecosystem and drive digital economic growth across the ASEAN region. The collaboration is further supported by MUFG Innovation Partners (MUIP), the Corporate Venture Capital (CVC) arm of MUFG, and Krungsri Finnovate, the CVC arm of Krungsri.
Mr. Bunsei Okubo, Krungsri Head of Japanese Corporate Banking, said: “Krungsri is committed to supporting the regional expansion of Japanese and Thai companies across ASEAN. Today, more than 1,600 Japanese companies operate in the Philippines across a broad range of industries, alongside a growing of startups introducing new technologies such as digital transformation and sustainability solutions, as well as rising investment from Thai corporates. In addition to offering the “Krungsri ASEAN LINK” advisory service and consistently hosting the Japan-ASEAN Startup Business Matching Fair, this collaboration represents another significant step forward for Krungsri and its partners in strengthening the ASEAN startup ecosystem. The partnership is expected to unlock new opportunities to accelerate the growth of the Philippines’ digital economy while promoting sustainable, long-term development across the region.”
Mr. Masami Yoshitake, Managing Director, Country Head of Philippines, MUFG Bank, Ltd., said: “A commitment to driving innovation and cross-border economic collaboration is the foundation of long-term growth. This partnership reflects the roles of Japan, the Philippines, and Thailand in jointly creating opportunities for startups to access markets, knowledge, and regional networks. MUFG stands ready to support the sustainable growth of the ASEAN entrepreneurial ecosystem and to serve as a gateway connecting capital, expertise, and technology to drive shared success in the future.”
Mr. Hirofumi Umeno, Board Director, Executive Vice President and Alliance Segment Head, Security Bank, said: “At Security Bank, this commitment reflects our BetterBanking promise—to create value, deliver meaningful experiences, and open doors for businesses to thrive. Our shared goal is to turn collaboration into real outcomes that strengthen industries and fuel long-term growth across the Asia and globally.”
Mr. John Cary Ong, Executive Vice President and Wholesale Banking Segment Head, Security Bank, said: “Security Bank is proud to partner with DTI, along with regional and global banking partners from Japan and Thailand. Each brings unique strengths—policy leadership, global reach, deep innovation expertise, and strong fintech track records. Together, these capabilities multiply. Through this collaboration, Security Bank plays an important role in connecting startups with corporates, enabling pilots, partnerships, and investments that help ideas scale and keeps businesses competitive.”
Assistant Secretary Nylah Rizza D. Bautista, Supervising Head of Competitiveness and Innovation Group, Department of Trade and Industry (DTI), said: “Through this MOU, DTI and partners will promote cross-border startup collaboration among the Philippines, Japan, Thailand, and the wider ASEAN region. We will support market access, startup exchanges, accelerator programs, and business matching initiatives, while strengthening the role of our AI and Startup Center as a regional innovation hub. This MOU serve as a platform for long-term collaboration—building bridges, expanding markets, and driving innovation across our region.”
Mr. Atsushi Ishihara, Deputy CEO of MUFG Innovation Partners (MUIP), said: “MUIP is committed to driving open innovation and fostering meaningful collaboration between startups and MUFG businesses on a global scale. Under this Memorandum of Understanding, we look forward to jointly creating new success stories across the Philippines, Thailand, and Japan—empowering entrepreneurs, accelerating innovation, and building a strong, interconnected ecosystem that will generate sustainable impact across Asia and beyond.”
Miss Palida Artispong, The Acting Managing Director of Krungsri Finnovate said: “At Krungsri Finnovate, we believe a strong startup ecosystem is built by connecting innovation with real business opportunities. This collaboration opens pathways for startups across ASEAN to access markets, capital, and regional networks—supporting scalable growth and long-term digital economic impact.”
The signing of the MOU took place recently in Manila, the Philippines. The collaboration focuses on three key areas: (1) Promoting Philippine startups in expanding their businesses into international markets through the extensive networks of Krungsri and MUFG; (2) Enhancing entrepreneurial capabilities through initiatives such as accelerator programs and exchange programs, designed to strengthen knowledge and skills in sustainable business management; (3) Organizing international business matching activities to create investment opportunities and foster business partnerships for startups in the Philippines and across the ASEAN region.
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