Japan's Mitsui partners with Turkey's Inventram

ISTANBUL

Japanese trading company Mitsui & Co has purchased a 30 percent stake in the Turkish technological investment company, Inventram, according to the companies' top executives Monday.

Speaking at a joint news conference in Istanbul, Ali Koc, Vice Chairman of Koc Holding, co-founding partner of Inventram with Koc University, said that the agreement would be a milestone for Inventram, paving the way for it to become a world company, in addition to encouraging more investment from Japan in Turkey.

Koc said that the acquisition -- for an undisclosed sum -- was a clear indication of the global investors' interest in Turkey despite the challenging conditions in and outside of the country.

"Even the heinous July 15 coup attempt did not affect Mitsui's trust in Turkey.

"I believe this partnership agreement will pave the way for more extensive cooperations in the coming period," he added.

Mitsui & Co Europe’s Corporate Planning President Naotaka Hayashi for his part said they were very pleased to partner with Inventram in the 60th year of their operations in Turkey, adding Inventram’s field of operations matched with Mitsui’s corporate values of "competition and innovation".

"Innovation is an important field for Mitsui. This is why we wanted to establish a partnership like this," Hayashi said.

Established in 2010, Inventram aims to commercialize disruptive technologies and technological innovations via smart business models, and also invests in innovative start-ups and provides sales consulting services to them, according to the company's website.

Mitsui, which is one of Japan's top trading houses with its assets nearing $97 billion and $42 billion in revenue, operates in 65 countries or regions.