Few people in Japan’s south-western city of Hiroshima will have heard of Veolia Water. But the French water services company plays an important role in the daily lives of Hiroshima’s residents, where its technology helps to treat the city’s waste water.

Up north, in the ski resort of Niseko, the name Citigroup is unlikely to ring a bell among many local residents. The US financial institution is, nevertheless, one of the largest employers in the neighbourhood, as the proud new owner of the Higashiyama Resort, complete with ski slope and golf course.