It is the first visit by a Saudi king to Japan since King Faisal's arrival in 1971. The volume of trade between the two countries reached SR117.9 billion in 2015.
"Japan on the other hand is aiming to boost exports, investments and tourists in particular by exploring new growth markets beyond its domestic and neighboring countries", the statement continued.
On the sidelines of the King's visit, the Saudi Stock Exchange "Tadawul" and the Japan Exchange Group, Inc.
India looked forward to the first official visit to New Delhi by King Salman of Saudi Arabia to further deepen the strategic ties between both countries, an official said on Sunday.
Economy, Trade and Industry Minister Hiroshige Seko and Adel Fakeih, Saudi Arabia's minister of economy and planning, confirmed the efforts at their meeting in Tokyo one day after Prime Minister Shinzo Abe and visiting King Salman bin Abdulaziz agreed to strengthen bilateral economic cooperation in announcing what was billed the "Saudi-Japan Vision 2030".
The Japanese government aims to contribute to the political and economic stability of Saudi Arabia by supporting the Arab nation's efforts to free itself from dependence on oil.
Ahead of Abe's meeting with the king, Chief Cabinet Secretary Yoshihide Suga had glowing words for Saudi Arabia, calling it "the linchpin of the Middle East".
Japan has offered to share its expertise in supply chain management, healthcare and renewable energy with Saudi Arabia, as the kingdom seeks to wean its economic dependency on crude oil. "When the King visited Japan, he had a meal with my grandfather at his private residence in Gotemba", he said.
Groundwork for the strategy began last August when Mr Abe met Saudi Deputy Crown Prince Mohammed Salman in Tokyo.
The entourage has made headlines around the world for its size and luxury, at least 25 princes, 10 ministers, 700 support staff and 500 tonnes of baggage are accompanying the king as he continues his journey through Asia.