Japan is to set up bilateral working groups with Indonesia, Malaysia, Singapore, the Philippines and Thailand “to discuss ways to improve cooperation”
More details at the Bloomberg article, but note this:
To encourage the development of regional bond markets, Japan has invested in the Pan Asia Bond Index Fund, which invests in government bonds issued by Indonesia, Malaysia, the Philippines, Singapore and Thailand, the finance ministry said. It didn’t specify the amount.
Buying of foreign bonds by the Japanese government has been a contentious issue, with objections centering on claims that it looks like an effort to further weaken the yen.
Japan Seeks to Boost Financial Ties With Asean Amid China Row
