ANNOUNCEMENT 31 Jul 2012
On July 31th, 2012, the Innovation Network Corporation of Japan (INCJ) made an investment into the creation of Kureha Co., Ltd.
NUMBER OF INTERVENTIONS
株式会社産業革新機構、株式会社クレハ、伊藤忠商事株式会社および株式会社クラレとともに、株式会社クレハ・バッテリー・マテリアルズ・ジャパンへの出資を決定 「Industrial Innovation Corporation, With Kureha Corporation, ITOCHU Corporation and Kuraray Co., Ltd., Decided to invest in Kureha Battery Materials Japan Co., Ltd.」
On July 31th, 2012, the Innovation Network Corporation of Japan (INCJ) made a 10 billion yen (128 million USD) investment into the creation of Kureha Co., Ltd. The investment relates to Kureha's lithium ion secondary batteries for automotive market for electric vehicles, PCs, and smartphones.
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.