On 8 November, Toshiko Abe, Japan’s Minister of Education, Culture, Sports, Science and Technology (MEXT), announced that Tohoku University has been certified as a "University for International Research Excellence". This marks an important first step towards meeting the eligibility criteria to receive support from the government's 10 trillion yen (GBP51 bn) university fund.
Following this recognition, Tohoku University will submit a system strengthening plan to MEXT. The plan includes increasing the number of university-run start-ups to 1,500 (over eight times the current figure) and raising research funding from approximately 8.6 billion yen (GBP44 million) to about 95.9 billion yen over the next 25 years.
Once the plan is approved by MEXT, approximately 10 billion yen in subsidies is expected to be provided by fiscal year 2024, making Tohoku University the first institution to officially receive support from the fund.
The second round of applications is expected to open within the same fiscal year following the plan is approved. The University of Tokyo and the Institute of Science Tokyo have already expressed their intention to apply for accreditation and the university endowment fund. Several universities will ultimately be selected.
The university fund will invest its assets in stocks and bonds, distributing the profits to multiple top universities over a maximum of 25 years. The goal is to provide a total of 300 billion yen per year.
https://www.nikkei.com/article/DGXZQOUE054ZR0V01C24A1000000/
What this means to the UK sector
With MEXT and Japan’s higher education sector striving to catch up and align with their international counterparts in research output and quality (including the UK), this 10-trillion yen fund could create new research and education collaboration opportunities for the UK HE sector.
MEXT and Japan’s HE sector have long expressed concern over the decline in Japan’s research capabilities. With the end of MEXT’s 10-year Top Global University Project in 2023, the university endowment fund may represent the final opportunity for Japanese universities to enhance their research capabilities and become hubs for social change.
There are already indications that the UK and Japan are forming a closer and more cooperative relationship in economic security and trade. Recently, UK Prime Minister Kier Starmer and Japan’s Prime Minister Shigeru Ishiba have agreed to launch an economic version of the “two-plus-two” dialogue - a regular meeting of foreign and trade ministers - amid growing concerns over possible heightened tariffs by the US under the Trump administration.
With education, research and innovation at the heart of growth and change, we recommend that UK universities with existing partnerships with Tohoku University leverage this fund to support their research initiatives. Other universities are encouraged to keep abreast of Japanese universities to be selected in the next round of applications.
