Japan's Mitsubishi to open innovation center in Israel -ministry

JERUSALEM, May 27 (Reuters) - Japan’s Mitsubishi Corp will open an innovation center in Tel Aviv, turning to Israeli start-ups for new technologies, Israel’s Economy Ministry said on Monday.

“In the past two years, company representatives have begun to examine whether they should expand their activity in Israel and focus more on technological cooperation, including investments in Israeli companies,” the ministry said in a statement.

“They intend to locate innovative technologies in Israel that are relevant mainly to digital transformation,” it said.

Until now, Mitsubishi has had a limited presence in Israel, focusing mostly on trade.

Over the past four years, Japanese investment in Israel has topped $5 billion, with more than 70 Japanese firms opening missions in Israel. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)