Mitsui forms small tech R&D center

Jan. 20, 2003 — Mitsui & Co. Ltd. said it has set up a new company in Japan to research and develop small tech-enabled information, communication and medical technologies.

The Japanese trading house plans to invest $25 million during the next three years in the Device Nanotech Research Institute. The center will work on MEMS-based high-speed optical network technology and genetic analysis for drug development, according to the Jiji Press.

The institute plans to launch a framework to commercialize the technologies and provide licenses to small firms later this year, the report said.

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