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is a major developer and manufacturer of electron microscopes and other scientific instruments, industrial equipment and medical equipment. Its headquarters are in Tokyo, Japan, with 25 domestic and foreign subsidiaries and associated companies as of 2014. It is listed in the top ten businesses worldwide for analytical laboratory instrument manufacturing. JEOL's instruments are used by researchers around the world, including the University of Cambridge, University of Oxford, and MIT. It has been included in the Activest Lux Nanotech Mutual Fund and the WestLB Nanotech Fund. Scientists in Japan began to collaborate as early as 1939 on the development of an electron microscope. Kenji Kazato and Kazuo Ito met while working at the Naval Central Institute in Tokyo during World War II. After the war, Kazato attracted Ito and a group of others to Mobara, Chiba Prefecture, Japan. This initial group developed a prototype magnetic field–type electron microscope called the DA-1, which was sold to Mitsubishi in 1947. Because of differences over the direction of this early company, Kazato and Ito chose to found a new organization. The Japan Electron Optics Laboratory Company, Limited (Nihon Denshi Kogaku Kenkyujo) was founded in 1949 by Kenji Kazato and Kazuo Ito in Mitaka, Tokyo. It produced its first commercial model transmission electron microscope, the JEM-1, a year later. Overseas sales began in 1956 with the sale of a system to France. The company's strengths were the customization of orders to fit customer requests, and the provision of strong customer support. In 1961, the company was renamed JEOL, Limited. Its first overseas subsidiary, JEOL Company (USA) Inc., was established in 1962 and headquartered in Peabody, MA. JEOL was listed on the Second Section of the Tokyo Stock Exchange by 1962, and on the First Section of the Tokyo Stock Exchange by 1966. The company expanded from electron microscopy to nuclear magnetic resonance (NMR), releasing the first NMR system in Japan, the JNM-1, in 1956.