NEC Corp., Japan’s largest maker of personal computers, plans to increase fivefold its capacity to produce electrodes for rechargeable lithium-ion batteries to meet demand for environmentally friendly technologies.
NEC will use a Japanese government subsidy to boost the production capacity at its plant in Sagamihara, west of Tokyo, to 10 million kilowatt-hours by the end of 2012 from more than 2 million kilowatt-hours in the year to March 31, 2011, the Tokyo- based company said on its website today.
Japan’s Ministry of Economy, Trade and Industry will provide 110 billion yen ($1.3 billion) in subsidies to fund 153 projects of companies including Toyota Motor Corp. and Hitachi Ltd. as part of a plan to create jobs that help reduce emissions, according to a statement today on its website.
NEC fell 0.4 percent to 246 yen at the 3 p.m. close of trading in Tokyo. The shares have gained 2.9 percent this year.
To contact the editor responsible for this story: Drew Gibson at email@example.com.