According to the estimates of METI (Ministry of Economy, Trade, & Industry), Japan has about 400 biotechnology companies with total sales of around $12 billion in 2002. In a recent survey by Nikkei Biotechnology & Business publication, the number of Japanese bioventures was said to be over 300 (including firms backed by university research).
In a spirited policy drive to nurture biotech businesses, the Japanese government is providing financial assistance for research through budgeting and taxation, improving drug approval procedures and expanding and upgrading research resources.
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