Tokyo, Japan 2/1/11—The Japan Times has reported that analytical instrument company JEOL will set up a joint venture for its NMR business. The new company, JEOL Resonance, will be formed with Innovation Network, a Japanese government–backed investment fund. Innovation Network plans to invest ¥1.5 billion ($18.1 million = ¥82.76 = $1) for a 50.1% share in the new firm. JEOL stated that the venture would help it lower production expenses and improve its financial performance.