Diversified industries, mainly|
Environment and energy
Machinery and components
|Founded||July 27, 2009|
Marunouchi Kitaguchi Bldg., 1-6-5, Marunouchi,|
Chiyoda-ku, Tokyo, Japan
Kimikazu Noumi (CEO)|
Haruyasu Asakura (COO)
The Innovation Network Corporation of Japan(INCJ) (株式会社産業革新機構 Kabushiki-gaisha Sangyō Kakushin Kikō), headquartered in Tokyo, is a public-private partnership between the Japanese government and 19 major corporations.
The INCJ was established as a temporary (15 years) corporate entity on July 27, 2009; with the prime objective of "boosting the competitiveness of Japanese firms by promoting a philosophy of 'open innovation' and creating next-generation businesses in promising new technologies by providing capital and managerial support, through private-public partnership."
The business and investments of INCJ are supervised by the Ministry of Economy, Trade and Industry of Japan (METI).
In early 2009, the Japanese government along with major Japanese corporations conceptualized the legal framework of a corporate entity - whose aim is to leverage Japanese technological and industrial prowess to create sustainable next-generation businesses using a philosophy of "Open Innovation" and enhance the value of Japanese businesses.
On July 27, 2009, the Japanese government under the Act on Special Measures for Industrial Revitalization and Other Laws to Foster Innovation in Industrial Activities in Japan, established the Innovation Network Corporation of Japan (INCJ). The INCJ was created to make investments aimed at creating an ecosystem of innovation and fostering an “open innovation” model, i.e. “flow of technology and expertise beyond the boundaries of existing organisational structures” — be it start-up companies, medium-sized enterprises or large, established firms.
The primary objective is to provide capital and managerial support to boost the competitiveness of Japanese firms and create next-generation businesses in promising new technologies, which contribute to innovative transformation of Japan’s industrial structure.
Organisation and leadership
The INCJ is headquartered at Tokyo and has a flat management structure centered around CEO and COO
|ALPS Green Devices||Japan||Electronics||JPY 10 billion||A subsidiary of Alps Electric Corporation manufacturing energy-saving electronic devices used in smart grid devices, electric vehicles, home appliances, and information appliances.|
|GENUSION||Japan||Semiconductor||JPY 2.6 billion||A developer of semiconductor memory devices|
|TRILITY||Australia||Water||AUD 225 million||Formerly United Utilities Australia (UUA), an Australian water utility, acquired by ICNJ, Mitsubishi Corporation, JGC Corporation, and Manila Water from United Utilities.|
|Zephyr Corporation||Japan||Wind power||JPY 1 billion||A manufacturer of small wind turbines and other energy systems|
|LSIP||Japan||Life science||JPY 1 billion||Life Science Intellectual Property, Japan's first intellectual property investment fund|
|ENAX||Japan||Battery||JPY 3.5 billion||A manufacturer of laminated sheet lithium-ion batteries|
|JINED||Japan||Nuclear power||JPY 20 million||An industry consortium for proposal and research activities for nuclear power plant project orders in emerging countries|
|Aguas Nuevas||Chile||Water||JPY 20 billion||A Chilean water utility acquired by Marubeni from the Santander Group|
|Anaeropharma Science||Japan||Pharmaceutical||JPY 2.9 billion||A university venture developing anticancer agents|
|Nihon Inter Electronics Corporation||Japan||Semiconductor||JPY 3.5 billion||A manufacturer of power semiconductor devices|
|Nakamura Choukou||Japan||Machining||JPY 1.2 billion||A manufacturer of special ultra-precision equipment|
|JEOL RESONANCE||Japan||Instruments||JPY 1.5 billion||A spin-off of JEOL manufacturing nuclear magnetic resonance instruments|
|Peach Aviation||Japan||Airline||JPY 10 million||Japan's first low-cost carrier established by All Nippon Airways and First Eastern Investment Group, a Hong Kong investment firm|
|衆智達汽車部件(常州)有限公司||China||Automotive||JPY 1.5 billion||An automotive parts maker founded in Changzhou, China, by small Japanese automotive parts makers|
|Miselu||United States||Music||USD 6 million||The San Francisco-based company develops music interfaces (hardware and software) for the Apple iPad. It is run by Yoshinari Yoshikawa (CEO) and Jory Bell (CTO).|
|Landis+Gyr||Switzerland||Metering||USD 680 million||A Swiss smart meter technology company acquired by Toshiba|
|Japan Display||Japan||Display||JPY 200 billion||A manufacturer of liquid crystal display panels established by the integration of the small and medium size LCD businesses of Sony Mobile Display, Toshiba Mobile Display, and Hitachi Displays|
|UniCarriers Corporation||Japan||Machinery||JPY 30 billion||A holding company of TCM Corporation and Nissan Forklift, which are the forklift businesses of Hitachi Construction Machinery and Nissan, respectively|
|Pharma8||Japan||Pharmaceutical||JPY 550 million||A start-up developing drugs to cure Alzheimer's disease|
|All Nippon Entertainment Works||United States||Entertainment||JPY 6 billion||A Hollywood industry consortium to remake the copyrighted works of Japanese entertainment, such as movies, television shows, games, books, toys, and character-licensed merchandise|
|Seajacks International||United Kingdom||Wind power||JPY 35 billion||A British offshore wind farm constructor acquired by Marubeni from Riverstone Holdings|
|(unnamed)||Japan||Video||JPY 60 million||A special purpose company for the incubation of voice search technology for video streaming websites, developed by the National Institute of Advanced Industrial Science and Technology (AIST)|
|Digital Publishing Initiatives Japan||Japan||Publishing||JPY 15 billion||A company assisting publishers to publish and distribute e-books|
|Sphelar Power||Japan||Solar power||JPY 500 million||A manufacturer of transparent, spherical solar cells founded by Hitachi High-Technologies and Kyosemi, a manufacturer of semiconductor devices|
The INCJ is capitalized at 112 billion yen. The Japanese government also provides guarantees up to a total of 1,800 billion yen for INCJ investments. This funding is used partly as a combination of venture capital and “buyout fund” to provide risk arbitrage to support a growth strategy of small and mid-size companies and to facilitate consolidation among established companies for the purpose of helping them become global leaders, as well as directly invest in new ventures.
The breakup of investors and their investments made are the following,
The Japanese government provides 102 billion yen out of the total capital of 112 billion yen. The government also provides guarantees up to a total of 1,800 billion yen for INCJ investments, giving it an investment capability of approximately 1,900 billion yen (US$24 billion).
The following 19 major Japanese companies have made a total investment of 10 billion JPY. Each investor has contributed 500 million yen, with the exception of DBJ, which has contributed 1 billion yen.
- 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
The following individual investors have invested 5 million yen each.
- Kimikazu Noumi, former CEO, Aozora Bank Ltd. and current CEO, INCJ
- Haruyasu Asakura, former Managing Director at Carlyle Japan and current COO, INCJ
- "Innovation Network Corporation of Japan - Presentation - July 2009" (PDF). incj.co.jp. Retrieved 18 Feb 2012.
- Bloomberg Business week executive profile | Kimikazu Noumi
- Bloomberg Business week executive profile | Haruyasu Asakura
- "Innovation Network Corporation of Japan (INCJ)". incj.co.jp. Retrieved 18 Feb 2012.
- "Exploring the Innovation Network Corporation of Japan (INCJ)". innovationexcellence.com. Retrieved 18 Feb 2012.
- "METI's Innovation Polic - Presentation - April 2010" (PDF). j-bilat.eu. Retrieved 18 Feb 2012.
- "低炭素社会の実現に不可欠なデバイス開発事業に投資" (PDF). ICNJ. March 31, 2010. Retrieved April 25, 2012.
- "尼崎のメモリー会社へ、産業革新機構26億円出資". 47NEWS (The Kobe Shimbun). May 11, 2010. Retrieved April 26, 2012.
- Official website
- "PRIVATE PUBLIC CONSORTIUM ACQUIRES AUSTRALIAN WATER COMPANY" (PDF) (Press release). ICNJ. May 11, 2010. Retrieved April 26, 2012.
- The Nikkei Electronics(May 10, 2010)- Nikkei BP
- "医薬の知財ファンドに出資。産業革新機構、特許を活用". 47NEWS(Kyodo News). August 6, 2010. Retrieved April 26, 2012.
- "Establishment of Japan's first intellectual property fund" (PDF) (Press release). ICNJ. August 6, 2010. Retrieved April 26, 2012.
- "ラミネート式リチウムイオン電池のフロンティア企業に投資～エナックス株式会社の産業用事業拡大に向けた増資引受を通じて、日本のリチウムイオン電池産業の競争力強化を支援～(pdf)" (PDF). ICNJ. August 25, 2010. Retrieved April 26, 2012.
- "Establishment of "International Nuclear Energy Development of Japan Co., Ltd."" (PDF) (Press release). ICNJ. October 15, 2010. Retrieved April 26, 2012.
- "丸紅がチリ第3位の水大手を買収、南米の水事業展開を加速". Reuters. November 1, 2010. Retrieved April 26, 2012.
- "新薬開発のベンチャーに出資へ、産業革新機構". 47NEWS(Kyodo News). November 1, 2010. Retrieved April 25, 2012.
- The Nikkei Electronics, Nikkei BP(November 9, 2010)
- "産業革新機構、中小企業のグローバル企業化を支援～太陽光発電・LED 等の成長市場を支える材料加工技術の事業強化を図る株式会社中村超硬への投資～(pdf)" (PDF). ICNJ. December 27, 2010.
- "官民一体で核磁気共鳴装置、産業革新機構が15億円出資". 47NEWS(Kyodo News). January 31, 2011. Retrieved August 15, 2011.
- "A&F Aviation Announces Capital Investment from Innovation Network Corporation of Japan" (PDF) (Press release). ICNJ. March 31, 2011. Retrieved April 26, 2012.
- "産業革新機構、中小自動車部品加工メーカーの 共同グローバル展開の支援を決定" (PDF) (Press release). ICNJ. June 14, 2011. Retrieved April 26, 2012.
- Miselu Inc. | CrunchBase Profile. Crunchbase.com (2011-07-02). Retrieved on 2014-04-12.
- "東芝買収のスイス社、4割取得へ産業革新機構". The Asahi Shimbun. July 26, 2011. Retrieved April 25, 2012.
- "Innovation Network Corporation of Japan and Toshiba Corporation have agreed upon a joint investment of Landis+Gyr AG, a global leader in smart meters" (PDF) (Press release). ICNJ. July 25, 2011. Retrieved April 26, 2012.
- "INCJ, Hitachi, Sony and Toshiba Sign Definitive Agreements Regarding Integration of Small- and Medium-Sized Display Businesses" (PDF) (Press release). ICNJ. November 15, 2011. Retrieved April 26, 2012.
- "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" (PDF). ICNJ, Hitachi Construction Machinery, Nissan, TCM and Nissan Forklift. November 29, 2011.
- "INCJ, Hitachi Construction Machinery and Nissan Sign Definitive Agreement to Integrate Forklift Businesses" (PDF) (Press release). ICNJ. April 20, 2012. Retrieved April 26, 2012.
- "産業革新機構、アルツハイマー型認知症向け根本治療薬の開発を目指す ～ アーリーステージ・創薬ベンチャーへの投資 ～" (PDF) (Press release). ICNJ. November 9, 2011. Retrieved April 26, 2012.
- "All Nippon Entertainment Works Co., Ltd. Established to Introduce Japanese Contents to International Audiences" (PDF) (Press release). ICNJ. July 23, 2010. Retrieved April 26, 2012.
- "INCJ Announces Establishment of All Nippon Entertainment Works Inc. (ANEW) and Appointment of CEO and COO of ANEW" (PDF) (Press release). ICNJ. February 29, 2012. Retrieved April 26, 2012.
- "丸紅、英の風力発電建設会社を買収。産業革新機構と共同で". The Sankei Shimbun. March 19, 2012.
- "Marubeni and INCJ Acquire Seajacks International from Riverstone Holdings" (PDF) (Press release). ICNJ. March 19, 2012. Retrieved April 26, 2012.
- "動画の会話、識別して広告". The Yomiuri Shimbun. January 23, 2012. Retrieved April 25, 2012.
- "INCJ to invest in video website voice search technology venture" (PDF) (Press release). ICNJ. January 23, 2012. Retrieved April 26, 2012.
- "電子出版ビジネスのインフラ整備を実現する 出版デジタル機構への投資を決定" (PDF) (Press release). ICNJ. March 29, 2012. Retrieved April 26, 2012.
- "球状太陽電池量産へ新会社 産業革新機構・日立ハイテク 来月、京都ベンチャーの技術活用". The Nihon Keizai Shimbun. April 1, 2011.
- "シースルー新型太陽電池の事業化を目指すベンチャーへの投資を決定". ICNJ. April 23, 2012. Retrieved April 23, 2012.
- "INCJ to Invest in Venture Aiming to Commercialize New See-through Solar Cell Module" (PDF) (Press release). ICNJ. April 23, 2012. Retrieved April 26, 2012.
- Official web site
- The Nature of Capitalism and Finance (ICNJ COO Haruyasu Asakura and Globis University Graduate School of Management) (Japanese)