July 23, 2002 — Mitsui & Co. of Tokyo announced it will collaborate with the University of Tsukuba on nanotechnology research and development, according to Asia Pulse.

Under the collaboration, Mitsui’s R&D units will review university research results and pick subjects that can be commercialized within three to five years and that have the potential to create new businesses. New materials for high-speed computation and the development of medical reagents are likely projects, which could begin as early as August.

Mitsui will provide between $860,000 and $2.6 million for each subject. It is also considering building a facility to house the collaborations.