ANNOUNCEMENT 29 Nov 2011
On November 29th, 2011, the Innovation Network Corporation of Japan (INCJ) made a capital investment in Unicarrier Co., Ltd.
NUMBER OF INTERVENTIONS
INCJ (2011) フォークリフト事業統合に関する統合基本覚書の締結について 「Conclusion of an integrated basic memorandum of understanding on forklift business integration」
On November 29th, 2011, the Innovation Network Corporation of Japan (INCJ) made a 30 billion yen (385 million USD) capital investment in Unicarrier Co., Ltd. The investment relates to Unicarrier's forklift R&D and manufacturing. Unicarrier is a subsidiary of Hitachi Construction Machinery Co., Ltd and Nissan Motor Co., Ltd.
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.