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Japan to extend innovation fund's mandate until 2034

Move may raise new questions about judgment of what some call a bailout vehicle

Groove X, a Tokyo startup launched by a key developer of SoftBank's Pepper humanoid robot, will be one of the INCJ's latest investments. CEO Kaname Hayashi, center, known as the "father of Pepper," stands at a news conference in Tokyo.

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.

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