Japan Diet OKs Bill to Boost INCJ Investment

May 17, 2018

Tokyo- The Diet, Japan's parliament, on Wednesday enacted into law a bill to boost investment in advanced technologies by government-backed Innovation Network Corp. of Japan.

The law allows INCJ to set up affiliated funds to expand investment intended to realize the so-called fourth industrial revolution involving artificial intelligence and Internet of Things technologies.

The law extended the life of INCJ by nine years to fiscal 2033, which ends in March 2034.

INCJ's current operations include proving financial assistance to struggling companies such as Japan Display Inc. <6740>.

The Diet also enacted a bill to ease regulations to promote the development of innovative technologies and services. The law also seeks to provide corporate tax breaks for IoT-related investment. Jiji Press