EY wins Yokohama IR consulting contract

Ernst & Young ShinNihon has won another consulting contract with the Yokohama municipal government for the project titled “Investigation of New Strategic Urban Development Such as an Integrated Resort.”

The main task is to conduct market research and to report the results back to the city government by March 22, 2019.

EY is currently engaged in larger IR-related consulting projects for the Wakayama and Aichi prefectural governments.

EY’s winning bid of JPY5 million (US$45,000) beat out PwC’s rival bid of JPY7,500,000 (US$68,000). Deloitte Tohmatsu declined to bid for this contract.

This is the fourth time that Yokohama sought private-sector studies about the possibility of hosting an IR. The first, published in March 2015, was conducted by the Japan Economic Research Institute. The second, published in March 2016, was carried out by Deloitte. The third and most recent, published in March 2017, was also conducted by EY.

Auditing companies such as these have so far played the main role in IR consulting in Japan.