ITOCHU Corp., a Japanese trading firm already partnering with Indianapolis-based electric vehicle battery maker EnerDel, may be developing a more significant presence in the state.

More coverage: The official press release from the Indiana Economic Development Corp.

More coverage: IndyStar.com business

ITOCHU, whose history as a trade liaison dates back to 1858, has signed a memorandum of understanding to “signify joint collaboration toward economic growth,” the Indiana Economic Development Corp. said today.

A dozen executives of the company came to Indiana recently to meet with economic development officials as a follow-up to an initial meeting with Gov. Mitch Daniels during his trade mission to Asia in September.

Today’s announced agreement promotes Indiana business opportunities and commercialization projects between ITOCHU and the state, officials said.

The memorandum could start businesses in advanced manufacturing and life sciences, said Takanobu Furuta, managing director and chief officer for new business development of ITOCHU.

“Formalizing Indiana’s relationship with this highly regarded firm will open doors for the state to increase its profile of Japanese investment and will also provide opportunities for Indiana ventures,” said Mitch Roob, Indiana Secretary of Commerce and the CEO of IEDC, in a news release.