The purpose of this paper is to analyze the core competence building processes of a successful Japanese venture company "HORIBA" in terms of resource-based view. The field survey methodology using the interviews with venture founders is utilized. The product development process of "HORIBA" puts the emphasis on providing the market place with instruments accurately measuring exhaust gases from automobile engines and thereby aiding in the development. process of providing the market with cleaner and more efficient environmentally friendly engines as stated in the vision of the companys. In order to achieve this the company business mechanisms include steps to enhance the sources and capabilities of the company competitive advantage. This includes the following: 1 selection of a niarket niche. 2 establishment of network relationships with other companies, 3 R&D processes emphasing new product development meeting the needs of the market place. 4 positioning as a global company, 5 unique corporate culture, etc. Characteristics and issues of the core competence building processes discussed in this paper.