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, 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 organizational structures.
INCJ will draw on funding as well as management and technological expertise from the public and private sectors. INCJ is actively reviewing various investment opportunities in areas of green energy, electronics, IT and biotechnology to infrastructure-related sectors such as water supply. Each investment will be thoroughly vetted to ensure it meets the exacting standards of INCJ's Innovation Network Committee, which will make the final investment decisions.
INCJ is capitalized at 300 billion yen, with the Japanese government injecting 286 billion yen and 26 private corporations (refer to details in Appendix below) providing a further 14 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 2,000 billion yen. INCJ will be established for a period of 15 years.
1. List of Limited Partners / Investors
Total of 26 companies with total investments of 14 billion JPY
- Asahi Kasei Corporation
- Canon Inc.
- Osaka Gas Co., Ltd.
- Sharp Corporation
- The Shoko Chukin Bank, Ltd.
- Sumitomo Chemical Co., Ltd.
- Sumitomo Corporation
- Sumitomo Electric Industries, Ltd.
- Sony Corporation
- Takeda Pharmaceutical Company Limited
- Toshiba Corporation
- TOYOTA MOTOR CORPORATION
- JGC Corporation
- Development Bank of Japan Inc.
- Panasonic Corporation
- East Japan Railway Company
- Hitachi, Ltd.
- Marubeni Corporation
- Mizuho Bank, Ltd.
- Sumitomo Mitsui Banking Corporation
- Mitsubishi Chemical Holdings Corporation
- Mitsubishi Heavy Industries, Ltd.
- Mitsubishi Corporation
- The Bank of Tokyo-Mitsubishi UFJ, Ltd.
- GE Japan Corporation
- JX Nippon Oil & Energy Corporation
(Note: Each investor has contributed 500 million yen, with the exception of DBJ, which has contributed 1.5 billion yen)
- Kimikazu Noumi, President and CEO, INCJ
- Haruyasu Asakura, COO, INCJ
(Note: Individuals have invested 5 million yen per person)
2. Executive Members
|President and CEO||Kimikazu Noumi|
|Chief Operating Officer (COO)||Haruyasu Asakura|
Innovation Network Committee Members
Director-General, Center for Research and Development Strategy
Senior Advisor, Honorary Chairman, Nippon Steel & Sumitomo Metal Corporation
Deputy President, Professor, Shibaura Institute of Technology Graduate School of Engineering Management
Attorney-at-Law, Mori Hamada & Matsumoto
President and CEO, INCJ
Hospital Director Emeritus and Medical Director, The Cancer Institute Hospital of Japanese Foundation for Cancer Research
Special Adviser, JSR Corporation
INCJ was created under the Industrial Competitiveness Enhancement Act and Other Laws to Foster Innovation in Industrial Activities in Japan.