Japanese firms to invest in nanotechnology

from the World-Watch dept.
According to a Reuters report on the Japan Today website, two of Japanís largest industrial firms plan to make major investments in nanotechnology research and development. The report says Mitsui has announced it would set up three units for nanotechnology research and development and invest 10 billion yen ($US 81.40 million) over the next five years in mass production of miniature products. And Mitsubishi Corp. said it would set up a $100 million venture capital fund in August, with a view to investing up to $10 million in individual nanotech companies specializing in information devices and medical technology. According to the report, the Mitsubishi Research Institute estimates the Japanese market for nanotechnology-based goods at 19 trillion yen (about $US 154 billion) in 2010.