December 22, 2022 Approval for JICT's Decision on Project Support

The Minister for Internal Affairs and Communications has today approved an application from the Fund Corporation for the Overseas Development of Japan's ICT and Postal Services Inc. (headed by OSHIMA Amane, President & CEO) to authorize a decision on support for an ICT service project relating to multilingual communication in the U.S. and elsewhere.

1. Background

The Fund Corporation for the Overseas Development of Japan's ICT and Postal Services Inc. (JICT) submitted an application to the Minister for Internal Affairs and Communications based on the provisions of Article 25, Paragraph 2 of the Act on the Fund Corporation for the Overseas Development of Japan's ICT and Postal Services (Act No. 35 of 2015). This application sought approval for JICT's decision to support an ICT service project relating to multilingual communication in the U.S. and elsewhere (the "target project"). In response to the application, the Minister examined the nature of the support and the target project in accordance with the Support Standards for the Fund Corporation for the Overseas Development of Japan's ICT and Postal Services (MIC Notice No. 412 of 2015) and has confirmed that the project meets the support standards. Accordingly, the Minister has today approved the application as requested.

2. Target project

JICT will invest up to 200 million yen in order to participate in an ICT service project relating to multilingual communication in the U.S. and elsewhere, together with Koei Tecmo Capital Co., Ltd. and others.
The project aims to strengthen the business foundations of Pocketalk Corporation via investment in the company, in an effort to promote widespread use of Pocketalk's high-quality AI-based multilingual translation services in a wide range of fields in the U.S. and Europe, among others, including in business, entertainment, medical institutions, and public organizations.

Outline

• Target project: ICT service project relating to multilingual communication in the U.S. and elsewhere
• Target regions: The U.S. (principally) and Europe, etc.
• Approved amount of support by JICT: Up to 200 million yen
• Japanese investors: Koei Tecmo Capital Co., Ltd. and others.

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  The published materials are in Japanese only.