Mitsui & Co. has been selected by Japan’s Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) as a ‘Competitive IT Strategy Company’ for 2017, recognizing its efforts to utilize information and communication technology with the aim of raising corporate value in the medium-to long-term and strengthen competitiveness. This is the third consecutive year Mitsui has been selected since the creation of this initiative in 2015.
In May 2017, Mitsui announced a new medium-term management plan, “Driving Value Creation,” which emphasizes the sustainable creation of new value and sets out company-wide measures to strengthen innovation capabilities through digital transformation activities utilizing AI and IoT.
In March 2016, Mitsui invested in OSIsoft, LLC, an American company which provides general purpose IoT platforms. We have started collaborating globally, and are continually working to improve business value by utilizing data and introducing OSIsoft’s platforms to a wide range of business assets.
Mitsui has also established Karugamo Works, an in -house innovation laboratory program which aims to create next generation business. As part of this, we have invested in microsatellite technology company Axelspace Corporation. Mitsui is working on creating new business models in resource exploration, agriculture, and infrastructure projects using satellite imagery data analysis from earth observation infrastructure ‘Axelglobe’, which plans to launch and build a 50 satellite constellation by 2022.
Through the use of IT, we aim to establish new growth fields and strengthen our earnings base by continuously challenging ourselves to create new value unique to Mitsui.