INCJ to Invest JPY 10 Billion in Lithium Ion Battery JV

The Innovation Network Corp. of Japan will invest JPY 10 billion (USD 125 million) in a joint venture with Kureha Corp. (4023), Kuraray Co. (3405) and Itochu Corp. (8001) to mass-produce a cutting-edge lithium ion battery material at home and abroad. The 3 strategic partners will jointly contribute JPY 10 billion to the JV. Kureha and Kuraray have established processes to produce plant-derived material to be used in battery electrodes that can halve the time required to charge electric and plug-in hybrid vehicles, as well as improve battery durability by as much as 30%.