Retail in Asia

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Japanese e-book promoter to get USD182.68m state boost

The Japanese government-backed fund Innovation Network Corp. of Japan said on Thursday that it will invest up to JPY15 billion (USD182.68 million) in a company to be set up jointly by publishing firms to promote and expand the electronic book market.

The new firm, Digital Publishing Initiatives Japan, will be founded on Monday by publishing firms including Kodansha Ltd. and Shogakukan Inc. with the goal of digitising 1 million publications to expand Japan’s e-book market to JPY200b in five years.