Mitsubishi and Battelle Announce Joint Venture in Japanese Market
Mitsubishi Corp. and Battelle Memorial Institute (BMI) announced a joint venture by which BMI-held intellectual property will be made commercially available in Japan.
The venture, known as Battelle–Japan Corp., is capitalized at 100 million yen, of which BMI put up 60% and Mitsubishi the other 40%. The firm intends to launch new products and businesses by combining BMI's technological innovations with Mitsubishi's manufacturing experience and expertise in the Japanese market. The initial target areas will include fuel cells, optoelectronic materials, medical devices and biopolymers. Eventually, the firm will launch a business for the management of laboratories on behalf of clients, as BMI currently operates in the United States. The new venture is part of BMI's overall plan to expand its presence into the international marketplace, and includes the establishment of a similar venture in Korea known as Battelle–Korea Corp., although the Korean firm is a wholly–owned subsidiary of BMI.
Commenting on the new ventures, Rich Adams, President and CEO of both Battelle–Japan and Battelle–Korea, stated, "Battelle has had tremendously valuable relationships in Japan and South Korea in the past, but these new offices enhance our capabilities to meet customer needs and to use science and technology to solve important problems in Asia." Carl Kohrt, President and CEO of BMI, added, "These offices give us access to growing markets that could represent up to half of R&D spending worldwide within 25 years."