The 3.8m optical and infrared telescope, which is Japan's first segmented mirror telescope, is now being constructed using the world's first super high precision, high speed grinding technology and the world's first truss structure drive system. This is the joint project between Kyoto University, Nagoya University, National Astronomical Observatory, and Nano-Optonics Energy (private company) with the budget of the Nnao-Optonics Energy and Dr Hiroshi Fujiwara (CEO of the Nano-Optonics Energy). The telescope will be completed in 2012 and installed in Okayama, and will become the biggest optical and infrared telescope in east Asia. The technologies for making this telescope such as (1) grinding technology, (2) segmented mirror, and (3) truss structure drive system are also basic technologies for the future extremely large telescope such as the 30m telescope. The scientific objective of the telescope is the search for the transient objects (gamma ray bursts, black hole binaries, stellar flares) and the extra solar planets. How this project has emerged and developed will be discussed in detail, including also the discussion about the possible future international collaboration.