ANNOUNCEMENT 25 Dec 2018
On December 25th, 2018, the Innovation Network Corporation of Japan (INCJ) announced a capital injection in the Japanese company "Hitachi Vehicle Energy Co., Ltd."
NUMBER OF INTERVENTIONS
車載用リチウムイオン電池事業を行う日立ビークルエナジーへの共同出資について 「About joint investment in Hitachi Vehicle Energy which carries out automotive lithium-ion battery business」
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On December 25th, 2018, the Innovation Network Corporation of Japan (INCJ) announced the purchasing of stock in the Japanese company "Hitachi Vehicle Energy Co., Ltd" for 10.5 billion yen (96 million USD). The investment relates to Hitachi Vehicle Energy's lithium-ion battery technology for advanced hybrid vehicles.
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.