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Coordinates: 35°41′02″N139°46′01″E / 35.684002°N 139.766908°E / 35.684002; 139.766908


Innovation Network Corporation of Japan (INCJ)
Type Private
IndustryDiversified industries, [1] mainly
Environment and energy
Life sciences
Machinery and components
Advanced material
FoundedJuly 27, 2009 [1]
Marunouchi Kitaguchi Bldg., 1-6-5, Marunouchi,
Chiyoda-ku, Tokyo
Key people
Kimikazu Noumi [2] (CEO)
Haruyasu Asakura [3] (COO)
Owner See Investors [4]

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, [4] [5] is a public-private partnership between the Japanese government and 19 major corporations.

The INCJ was established as a temporary (15 years) corporate entity [6] 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." [1]

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. [6]

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). [1] 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

Its current CEO is Kimikazu Noumi [2] and COO, Haruyasu Asakura. [3]


ALPS Green DevicesJapanElectronicsJPY 10 billionA subsidiary of Alps Electric Corporation manufacturing energy-saving electronic devices used in smart grid devices, electric vehicles, home appliances, and information appliances. [7]
GENUSIONJapanSemiconductorJPY 2.6 billionA developer of semiconductor memory devices [8]
TRILITYAustraliaWaterAUD 225 millionFormerly United Utilities Australia (UUA), an Australian water utility, acquired by ICNJ, Mitsubishi Corporation, JGC Corporation, and Manila Water from United Utilities. [9] [10]
Zephyr Corporation  [ ja ]JapanWind powerJPY 1 billionA manufacturer of small wind turbines and other energy systems [11]
LSIPJapanLife scienceJPY 1 billionLife Science Intellectual Property, Japan's first intellectual property investment fund [12] [13]
ENAXJapanBatteryJPY 3.5 billionA manufacturer of laminated sheet lithium-ion batteries [14]
JINED JapanNuclear powerJPY 20 millionAn industry consortium for proposal and research activities for nuclear power plant project orders in emerging countries [15]
Aguas NuevasChileWaterJPY 20 billionA Chilean water utility acquired by Marubeni from the Santander Group [16]
Anaeropharma ScienceJapanPharmaceuticalJPY 2.9 billionA university venture developing anticancer agents [17]
Nihon Inter Electronics CorporationJapanSemiconductorJPY 3.5 billionA manufacturer of power semiconductor devices [18]
Nakamura ChoukouJapanMachiningJPY 1.2 billionA manufacturer of special ultra-precision equipment [19]
JEOL RESONANCEJapanInstrumentsJPY 1.5 billionA spin-off of JEOL manufacturing nuclear magnetic resonance instruments [20]
Peach Aviation JapanAirlineJPY 10 millionJapan's first low-cost carrier established by All Nippon Airways and First Eastern Investment Group, a Hong Kong investment firm [21]
衆智達汽車部件(常州)有限公司ChinaAutomotiveJPY 1.5 billionAn automotive parts maker founded in Changzhou, China, by small Japanese automotive parts makers [22]
MiseluUnited StatesMusicUSD 6 millionThe 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). [23]
Landis+Gyr SwitzerlandMeteringUSD 680 millionA Swiss smart meter technology company acquired by Toshiba [24] [25]
Japan Display JapanDisplayJPY 200 billionA 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  [ ja ] [26]
UniCarriers Corporation JapanMachineryJPY 30 billionA holding company of TCM Corporation and Nissan Forklift, which are the forklift businesses of Hitachi Construction Machinery and Nissan, respectively [27] [28]
Pharma8JapanPharmaceuticalJPY 550 millionA start-up developing drugs to cure Alzheimer's disease [29]
All Nippon Entertainment Works  [ ja ]United StatesEntertainmentJPY 6 billionA Hollywood industry consortium to remake the copyrighted works of Japanese entertainment, such as movies, television shows, games, books, toys, and character-licensed merchandise [30] [31]
Seajacks InternationalUnited KingdomWind powerJPY 35 billionA British offshore wind farm constructor acquired by Marubeni from Riverstone Holdings [32] [33]
(unnamed)JapanVideoJPY 60 millionA 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) [34] [35]
Digital Publishing Initiatives Japan  [ ja ]JapanPublishingJPY 15 billionA company assisting publishers to publish and distribute e-books [36]
Sphelar PowerJapanSolar powerJPY 500 millionA manufacturer of transparent, spherical solar cells founded by Hitachi High-Technologies  [ ja ] and Kyosemi, a manufacturer of semiconductor devices [37] [38] [39]


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,

Japanese Government

The Japanese government provides 102 billion yen [5] 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).

Corporate investors

The following 19 major Japanese companies have made a total investment of 10 billion JPY. [5] Each investor has contributed 500 million yen, with the exception of DBJ, which has contributed 1 billion yen.

See also

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  2. 1 2 Bloomberg Business week executive profile | Kimikazu Noumi
  3. 1 2 Bloomberg Business week executive profile | Haruyasu Asakura
  4. 1 2 "Innovation Network Corporation of Japan (INCJ)". Retrieved 18 Feb 2012.
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  9. Official website
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  20. "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. Archived from the original on April 3, 2015. Retrieved August 15, 2011.
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  23. Miselu Inc. | CrunchBase Profile. (2011-07-02). Retrieved on 2014-04-12.
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  26. "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.
  27. "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.[ permanent dead link ]
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  29. "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.
  30. "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.
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