Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichiro Hori) announced its strategic entry into the U.S. cybersecurity market through acquisition of stakes in Redpoint Cybersecurity LLC (Head Office: New York), a U.S. cybersecurity service provider, and making it an equity method investee of Mitsui. This is the latest step in Mitsui's effort to broaden its global cybersecurity presence following a successful entry into the Southeast Asian market in April 2023 via an investment in LGMS, a leading cybersecurity service provider in Malaysia.

In 2001, Mitsui established its wholly owned cybersecurity service entity, Mitsui Bussan Secure Directions, Inc. (MBSD). Today, MBSD is one of the leading cybersecurity service providers in the Japanese market, delivering advanced cybersecurity services, including security assessment, consulting, and managed services for over two decades. Leveraging its experience and backed by the highest level of technical expertise of MBSD, Mitsui has contributed significantly to strengthening the security posture of its domestic enterprise clients. The expansion into the U.S. market following the Southeast Asia entry, underscores Mitsui's commitment to addressing the cybersecurity needs of companies globally, including those of Japanse multinational corporations (Over half of the overseas branches of Japanese companies are located in Southeast Asia and North America.).

In the current digital transformation landscape, where embracing technology is essential for businesses and fuels innovation across various industries, the rapid progress in technology including AI has led to the emergence of increasingly sophisticated cyber threats. This evolution in technology has created a pervasive challenge for organizations, highlighting the critical importance of cybersecurity in safeguarding against these emerging risks and ensuring business continutiy. (see bwlow Fig.).

Cyber Incident Track Record

Note: Extracted from the CIG Monthly Report by Mitsui Bussan Secure Directions (Analyzed from information posted on leak sites, as well as publicly disclosed).

Furthermore, the regulations mandated by the U.S. Securities and Exchange Commission as of July 26 2023, requiring public companies to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance, will significantly impact Japanese companies listed in the United States. This movement toward tighter control is anticipated to influence other nations, including Japan, thereby further highlighting the critical need for cybersecurity measures in business operations.

Redpoint Cybersecurity is a human-led, technology-enabled managed cybersecurity provider specializing in Digital Forensics Incident Response (DFIR), proactive cyberattack prevention, security assessments, strategic cyber leadership consulting, along with additional services. Redpoint's reputation, extensive network and trust with insurance companies, brokers, and law firms allows for comprehensive support both during a cyber event and subsequently in strengthening client's cybersecurity program and achieving cyber compliance. As one of Japan's leading global conglomerates, Mitsui will leverage its knowledge, trusted network, and capital capability to accelerate Redpoint's growth in support of their client's most pressing cyber challenges.

In addition to expanding its global footprint, through establishing a world with fewer threats when using digital services, Mitsui will contribute to the betterment of society toward the realization of the Materialities identified by Mitsui, such as "enhance quality of life".

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