INDIANAPOLIS - Executives from Japan-based ITOCHU Corporation joined Indiana Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation, Mitch Roob, at the Statehouse to sign an official Memorandum of Understanding to signify joint collaboration toward economic growth.
ITOCHU, is one of the largest general trading firms in Japan, sent 12 executives to Indiana recently to meet with economic development officials as a follow-up to the initial meeting with Governor Mitch Daniels and Eizo Kobayashi, chief executive officer of ITOCHU Corporation, during the state's trade mission to Asia in September. The partnership was solidified when the entities signed an agreement to promote Indiana business opportunities and engage in commercialization projects between ITOCHU and the state of Indiana.
"We look forward to working closely with the state of Indiana to promote new business
opportunities in the areas of advanced manufacturing, such as advanced battery energy storage,
renewable energy and smart grid. Life sciences and innovative technologies are also our strategic focus areas," said Takanobu Furuta, managing director and chief officer for new business development of ITOCHU Corporation.
The company has already begun to work with Indiana firms and organizations such as
lithium-ion battery maker, EnerDel, with which it is an equity partner, and Energy Systems Network.
More than 42,000 Indiana residents are employed by 220 Japanese companies in the state with investments totaling $9.8 billion.
NOTE: Trading transactions are presented in accordance with Japanese accounting practices and not meant to present sales or revenue in accordance with the U.S. G.A.A.P.
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