Manila, May 27 -- Philippine and Japanese firms on Wednesday signed agreements aimed at strengthening cooperation in digital innovation and smart urban development, further reinforcing economic and technology ties between Manila and Tokyo.

President Ferdinand R. Marcos Jr. witnessed the landmark signing of memoranda of understanding (MOUs) between Philippine conglomerate Ayala Group and leading Japanese firms in a ceremony at the Imperial Hotel in Tokyo, Japan.

Ayala Group formalized agreements with Mitsubishi Corporation, MUFG Bank and KDDI Corporation during the signing ceremony, the Presidential Communications Office (PCO) said in a statement.

"The agreements with Mitsubishi Corporation, MUFG Bank, and KDDI Corporation advance coll...