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Business trends

Japan to form 40-company alliance for open innovation breakthrough

Toyota, ANA and others will share and assess promising technologies

Baidu has adopted an open innovation approach to developing self-driving technology, inviting over 100 countries to take part in the initiative.    © Reuters

TOKYO -- Toyota Motor and about 40 other leading Japanese companies will create a framework for sharing technologies and business ideas to spur innovation, joining a growing global trend for collaborative development.

Toyota and partners will launch a consortium on April 15. Other participants include All Nippon Airways, brewery Asahi Group Holdings, trading house Itochu, Takeda Pharmaceutical, Sumitomo Mitsui Banking and advertising agency Dentsu. Businesses competing in the same fields are welcomed to join as the organization aims to expand membership to 100 companies in 2020.

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