The Innovation Network Corporation of Japan (INCJ), a unique public-private partnership aimed at promoting innovation and enhancing the value of businesses in Japan, was launched in July 2009.
Leveraging the rich history of Japanese technological prowess, the INCJ aims to provide financial, technological and management support in order to promote the creation of next-generation businesses through “open innovation,” or the flow of technology and expertise beyond the boundaries of existing organisational structures.
The INCJ will draw on funding as well as management and technological expertise from the public and private sectors. The INCJ is actively reviewing various investment opportunities in areas of environment and energy, electronics and IT, bio-tech, and infrastructure such as water supply, railway service, and nuclear power supply. Each investment will be thoroughly vetted to ensure it meets the exacting standards of the INCJ’s Innovation Network Committee, which will make the final investment decisions.
The INCJ is capitalized at 152 billion yen, with the Japanese government injecting 142 billion yen and 19 private corporations (refer to details in Appendix below) providing a further 10 billion yen. The government will also provide guarantees up to a total of 1,800 billion yen for INCJ investments, giving it an investment capability of approximately 1,900 billion yen. The INCJ will be established for a period of 15 years.
Appendix
1. List of Limited Partners / Investors
Corporate Investors
Total of 19 companies with total investments of 10 billion JPY
- Asahi Kasei Corporation
- Osaka Gas Co., Ltd.
- Sharp Corporation
- The Shoko Chukin Bank, Ltd.
- Sumitomo Chemical Co., Ltd.
- Sumitomo Corporation
- Sumitomo Electric Industries, Ltd.
- Takeda Pharmaceutical Company Limited
- Tokyo Electric Power Company, Inc.
- Toshiba Corporation
- JGC Corporation
- Development Bank of Japan Inc.
- Panasonic Corporation
- East Japan Railway Company
- Hitachi, Ltd.
- Mizuho Corporate Bank, Ltd.
- The Bank of Tokyo-Mitsubishi UFJ, Ltd.
- General Electric Company, Japan
- JX Nippon Oil & Energy Corporation
(Note: Each investor has contributed 500 million yen, with the exception of DBJ, which has contributed 1 billion yen)
Individual Investors
- Kimikazu Noumi, CEO, INCJ
- Haruyasu Asakura, COO, INCJ
(Note: Individuals have invested 5 million yen per person)
2. Executive Members
| Chief Executive Officer (CEO) | Kimikazu Noumi |
|---|---|
| Chief Operating Officer (COO) | Haruyasu Asakura |
Innovation Network Committee Members
| Chairman | Hiroyuki Yoshikawa Director-General, Center for Research and Development Strategy |
|---|---|
| Member | Akio Mimura Representative Director and Chairman, Nippon Steel Corporation |
| Member | Hideko Kunii Chairman and Operating Officer, Ricoh IT Solutions Co., Ltd. |
| Member | Hajime Tanahashi Attorney-at-Law, Mori Hamada & Matsumoto |
| Member | Kimikazu Noumi CEO, INCJ |
| Member | Tetsuichiro Muto Hospital Director Emeritus and Medical Director, The Cancer Institute Hospital of Japanese Foundation for Cancer Research |
| Member | Yoshinori Yoshida Chairman, JSR Corporation |
| Auditor | Hideo Takaura |
3. Legislation
The INCJ was created under the Act on Special Measures for Industrial Revitalization and Other Laws to Foster Innovation in Industrial Activities in Japan.
