Biotechnology and Development Monitor, No. 22, p. 5-6.
Japan is a relative latecomer in the field of modern biotechnology.
The dependence on US biotechnology companies is gradually diminishing because of the increased domestic investment in basic research. In the early 1980s, many Japanese companies entered the field of new biotechnology. These companies not only included traditional food, pharmaceutical, and chemical companies, but also many companies with totally unrelated core businesses, such as steel manufacturers and even construction companies. The two oil crises had revealed a Japanese high dependence on oil. In the 1990s, however, the 'biotech boom' ended.