Mitsui & Co. Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) and Toshiba Corporation ("Toshiba", Head Office: Tokyo, President and COO: Satoshi Tsunakawa), Toshiba Digital Solutions Corporation ("Toshiba Digital Solutions", Head Office: Kawasaki, President and CEO: Hironobu Nishikori), and Toshiba Digital & Consulting Corporation ("Toshiba Digital & Consulting", Head Office: Kawasaki, President and CEO: Noriyasu Okitani) have agreed that Mitsui will invest in Toshiba Digital & Consulting with the objective of accelerating digital transformation. Mitsui will acquire a 20% stake in Toshiba Digital & Consulting through a third party allocation of newly issued shares. The acquisition is scheduled to take place on October 1, following regulatory approval by relevant authorities.
The rapid development of IoT, AI, and other digital technologies is bringing about a revolutionary transformation in business areas and business models. Toshiba and Toshiba Digital Solutions established Toshiba Digital & Consulting on April 2, 2018 as a new business entity to create new economic value by accelerating digital transformation through co-creation with its customers, utilizing IoT, AI, and other advanced technologies primarily in the areas of social infrastructure, energy, and mobility.
Mitsui, with its powerful customer bases both in Japan and overseas, aims to sustainably create new value using digital technology in line with the "Driving Value Creation" theme of Mitsui's Medium-term Management Plan. Equity participation in Toshiba Digital & Consulting will enable Mitsui to create new business and realize digital transformation in business assets owned by Mitsui and its group companies across a wide range of industries.
Toshiba Group is aiming to transition to a high-profit, high-sustainability business model. Through Toshiba Digital & Consulting, Toshiba and Toshiba Digital Solutions are seeking to create digital businesses by co-creating positive outcomes with Mitsui's customers and partners, and to secure and grow new business in the digital solutions sector.
Mitsui and Toshiba Group will, through Toshiba Digital & Consulting, accelerate digital transformation in the global market by co-creation, and will develop digital business to generate new economic value.
Profile of Toshiba Digital & Consulting Corporation
||April 2, 2018
||Toshiba Digital Solutions 70%, Toshiba 30%
||President and CEO Noriyasu Okitani
||· Provision of solutions and operational services using digital technology
· Consultancy services relating to digital business strategy
||Approx. 50 employees (as of April 2, 2018)