Chubu-based firms set up Silicon Valley hubs to tap local tech expertise

Okaya & Co. Ltd., a Nagoya-based trading company for iron and steel, is set to open an office in Silicon Valley in California in the hope of teaming up with tech-savvy ventures there. "I want to learn about new business models that utilize IT," said Okaya President Tokuichi Okaya. He is especially interested in developing a self-driving truck convoy, where a driver mans the first truck while other trucks follow automatically, in a bid to address driver shortages. "We hope to resolve social issues by partnering with a local startup that has the technology for automated driving," an Okaya & Co. staffer said. Okaya is one of many companies in the Chubu region heading to the U.S. technology hub in search of new business ideas and partners.