On December 28th, 2015, the Innovation Network Corporation of Japan (INCJ) invested shares into Japanese company Trigence Semiconductor Co.



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INCJ (2017). 株式会社Trigence Semiconductorの株式譲渡について (" Stock transfer of Trigence Semiconductor Co., Ltd."). Available at

INCJ (2015). 株式会社Trigence Semiconductorへの追加出資の決定 ("Determination of additional investment in Trigence Semiconductor Inc.")

INCJ (2014). 世界初フルデジタルスピーカー実現技術を提供する株式会社Trigence Semiconductorへの出資を決定 ("We decided to invest in Trigence Semiconductor Co., Ltd., which provides the world's first fully digital speaker realization technology"

More information about INCJ's relation with the Trigence Semiconductor can be found at

Inception date: 28 Dec 2015 | Removal date: 17 Nov 2017
Still in force

Capital injection and equity stakes (including bailouts)

On December 28, 2015, the INCJ invested a further 2.55 billion yen (21.1 million UDS) into Trigence Semiconductor. INCJ had already acquired a smaller stake in 2014 (see related state act). The total investment in the Trigence Semiconductor by INCJ was 3.55 billion yen (29.5 million USD). The investment related to Trigence Semiconductor's development and sales of semiconductors with proprietary digital processing technology for speakers. 

About the Innovation Network Corporation of Japan (INCJ)
In 2009, INCJ was created as a public-private investment fund to financially support industries "next-generation businesses". INCJ supports projects that "combine technologies and varied expertise across industries and materialize open innovation.". According to the INCJ website, the fund has an investment capacity of up to USD 20 billion. Although characterized as a public-private partnership, in fact only 0.1 billion of the 2.6 billion USD invested in the fund was provided by the private sector. The rest came from the Japanese government. Of the 0.1 billion USD said to be contributed by the private sector, 13.6 million USD was in fact provided by the Development Bank of Japan, a state-owned bank.