Robotic-hand maker Squse said to consider IPO in Japan next year

Squse Inc., a maker of robotic hands that can handle food, plans an initial public offering in Tokyo as early as next year to fund overseas expansion, according to people with knowledge of the matter. Kyoto-based Squse, partly owned by state-backed Innovation Network Corp. of Japan, is considering seeking a valuation of at least 50 billion ( 455 million), the people said, asking not to be identified because the information is private. INCJ, set up in 2009 to help make Japan's technology industry more competitive, agreed in 2014 to spend as much as 500 million to buy a minority stake in Squse, data compiled by Bloomberg show. The IPO and expansion plans coincide with a rapid increase in demand globally for industrial robotics technology. Chinese appliance maker Midea Group Co. said last week it was seeking to increase its stake in German industrial robot maker Kuka AG.