In nanotechnology, atoms and molecules are manipulated at the nanometer scale (one billionth of a meter) to create completely new functions by utilizing the characteristics particular to nano-scale materials. Nanotechnology and materials science are leading technologies open to new possibilities. These leading basic technologies will be applied over various areas and will support a wide range of technological fields. They also play significant roles as basic technologies to support physical space for achieving Society 5.0. The National Institute for Materials Science, for example, has developed a new olfactory sensor that is small and highly sensitive, and is working on its practical applications. In order to strengthen the nation's industrial competitiveness, MEXT is also promoting the development of new materials to replace rare earth and other critical elements, the establishment of new materials development techniques that will dramatically shorten development time by harnessing the power of data and information sciences, and the building of a network for shared use of cutting-edge nanotechnology research facilities.