葡屬帝汶
From its base in Palau, "Nan'yō Kōhatsu" sent small ships to Dili as early as 1934 in an effort to break the monopoly of Dutch shipping on trade with Portuguese Timor. However, in the summer of 1936, the company reached a secret agreement with the Imperial Japanese Navy to establish more of a foothold in Portuguese Timor, and with Navy funding, the company formed a joint venture in 1937 with the primary plantation company of Portuguese Timor, Sociedade Agrícola Pátria e Trabalho. The joint-venture effectively controlled imports and exports from Portuguese Timor, and by 1940 it was 48% controlled by "Nan'yō Kōhatsu". The company also bought out many small private operations in the eastern part of the Indonesian archipelago, and formed numerous joint ventures with native entrepreneurs.