Innovation Network Corporation of Japan (INCJ), a public-private fund, announced that it will invest in the electronic components unit spin-off from Alps Electric Co., a major comprehensive producer of electronic components. Alps will divest a research joint venture with Tohoku University and establish a new company. The new company deals with technology which can potentially be applied to electric cars and smart grids. INCJ initially invested 3 billion yen and will increase its investment to as much as 10 billion yen.
This is the first and long-awaited investment for INCJ, which was founded last July.
March 31, 2010
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