public-private fund: It has even been accused of being reduced to an organization designed to save zombie companies. ; The JIC has been stuck in a leadership void since, according to The Japan Times. President and CEO Masaaki Tanaka bolted with the eight directors in December amid a dispute over the government's role in the fund, leaving less than three months after it was established. Now it is inactive after all nine of its private-sector board members resigned last month in a revolt against the government. Initially, there were high hopes for JIC. Founded last September, the public-private fund was to invest its 2 trillion in capital in next-generation businesses like artificial intelligence, robotics and new drugs, making use of partnerships with investment funds at home and abroad. In early July, Hiroshige Seko, minister of economy, trade and industry, described Tanaka and the other board candidates as world-class people. The government provided more than 90 percent of the capital.
(news.financializer.com). As
reported in the news.
Tagged under public-private fund, board members topics.