TOKYO -- Japanese policymakers seek to give a state-backed innovation fund whose holdings include chipmaker Renesas Electronics and Japan Display -- and whose name repeatedly came up in Toshiba's memory business sale -- an extra nine years to continue a role critics say takes a back seat to protecting favored industries.
Created in 2009 to boost the nation's industrial competitiveness through consolidation, the public-private Innovation Network Corp. of Japan had been slated to wrap up operations in March 2025. Legislation to be proposed next year will seek to extend this to 2034.
