“You want global loyalty, you build local trust first.”

Reo’s voice slices through the almost perfect hush of the high-end restaurant like a perfumed blade. He's sitting straight-backed at the long white-linen table whilst his eyes remain fixed on the balding executive across from him—Mr. Hayashi, head of Zenith Holdings Tokyo, a key Southeast Asia gateway.

Leo, seated just to Reo’s left, nods in support. “The smart play is establishing regional headquarters in Jakarta and Ho Chi Minh. That’s where the numbers climb fast. Tech startups are scaling overnight out there.”

Mr. Hayashi strokes his goatee, intrigued. “And what about legal parameters? We’ve run into red tape over ownership shares—”...