TOKYO -- Japan's newly revamped public-private innovation fund will target growth fields like medicine, artificial intelligence and biotechnology, moving away from its previous focus on big corporate restructuring and bailouts of ailing businesses.
"I have absolutely no intention of prolonging the life of zombie companies," Masaaki Tanaka, president of the Japan Investment Corp., told a news conference, referring to the predecessor's rescues of large companies. "We will be smart about provider money."
