Fourteen of Ireland’s leading and most innovative food and lifesciences companies took part in a week-long Enterprise Ireland Functional Foods and Lifesciences trade mission to Japan led by the Minister for Research and Innovation Sean Sherlock TD.

Enterprise Ireland organised this focused mission as there is particular potential for growth in these sectors in Japan. The Japanese market for functional foods is estimated to be worth €8.13billion with drinking yogurts the largest sub-sector at €2.5billion. Meanwhile, Japan is the second largest pharmaceutical and medical device market in the world valued at $96billion in 2010.

Announcing the mission Minister Sherlock said:

“The innovative quality of Ireland’s food and lifesciences products, the strong Japanese demand and the active interest of Irish companies in doing business in Japan all combine to create significant potential for winning new business during this mission.

“I am also conscious of the significance of the Japanese market for Irish goods and services which presents many opportunities for Irish companies.   In 2011 Ireland exported nearly 3bn worth of goods and services to Japan making it our 11th largest export market.   A large proportion of our goods exports were accounted for by products in the pharmachem/medical devices sectors”, Minister Sherlock concluded.

The mission involved key meetings between Irish companies and potential Japanese partners such as Suntory, Meiji, Terumo and Astellas Pharma as well as a Food Innovation Seminar and a Lifesciences Seminar for Irish and Japanese companies.

During the mission, Luxcel Biosciences Ltd, a University College Cork spin-out signed a distribution agreement for the distribution of its products in the Japanese pharma and academic markets. The agreement was signed with Shigematsu Co. Ltd, a large Japanese trading servicing the pharma, diagnostics, chemical, food, electronics, universities and public institutions within the food, retail and chemical sectors.

Luxcel is a specialist producer of high-achieving, non-invasive optical sensors that monitor oxygen levels in food, beverage and pharmaceutical packaging.

Welcoming the announcement Minister Sherlock said: “Luxcel’s innovative and scientifically advanced products are ideal for the Japanese lifesciences market. I strongly congratulate Luxcel on securing this important distribution agreement which will enable them to secure even greater penetration and grow their business in this very important, high potential market.”

Richard Fernandes, CEO of Luxcel added:

“Japan is a market with enormous potential, particularly for innovative, technically driven products such as the sensors and related biological and analytical tests and solutions for cell biology, food & beverage safety and packaging research and development that Luxcel develop. Securing such a strong and established partner in Shigematsu speaks volumes for the technologies we offer and is vital when penetrating such a complex market space”

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