Smaller firms ally to develop uses for advanced technology

September 18, 2001 – Tokyo, Japan – Nine midsize and start-up companies have established a joint venture to develop commercial applications for nanotechnology and other scientific advances.

Tadashi Sasaki, former senior VP of Sharp Corp., who was in charge of development of hand-held calculators and LCD displays at the major electronics company and now serves as chairman of the new firm, leads the initiative.

The joint venture will work with other firms and universities to bring the latest practical applications of basic technological research to market faster.

Capitalized at 11.5 million yen, the new company is owned by home appliance maker Twinbird Corp., industrial-use rubber products maker Fukoku Co., electronics parts manufacturer Andes Co., and Kitagawa Industries Co., a producer of plastic fasteners for industrial use.

International Substrate Materials Lab Inc. has also invested in the firm.

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