TOKYO, Dec 3, 2019 - (JCN Newswire) - Mitsubishi Corporation (MC) has established a new, wholly owned tech subsidiary called MC Digital, Inc. (MC Digital), which will be dedicated to advancing its digital strategies.
In recent years, the evolution of digital technologies and rise of platform developers have escalated business-model reforms throughout industry. One of the overarching objectives of MC's latest medium-term management plan(1) is to strengthen its IT capabilities, and the company has been examining a number of ways to stimulate its digital transformation(2).
MC Digital was established to internalize the core technologies and development functions necessary for MC to take greater advantage of cutting-edge advances in the digital space.
This new subsidiary will be relied on to promote the development of new services that leverage digital technologies, the main purpose of which will be to augment strategies conceived by those spearheading MC's latest business ventures. As necessary, MC Digital will also evaluate the advanced technologies of MC's partners when MC is considering alliances or M&As.
The technical expertise gained through the development of services will be concentrated at MC Digital and applied to other industries that MC is engaged in. In this way, MC plans to accelerate its own digital transformation as efficiently and sustainably as possible. MC's ultimate plan for this new subsidiary is for it to evolve into one of Japan's most well-known tech companies, one capable of returning the merits of its accumulated, industry-wide IT expertise to MC Group companies and working hand in hand with them to enhance corporate value.
To substantiate this plan, MC Digital has already recruited an IT professional from outside the MC Group to serve as its Chief Technology Officer, and it continues to bring in other top-flight professionals to solidify its workforce, including UI/UX designers and engineers with advanced machine learning and software skills. MC Digital plans to have about 20-40 employees within the next few years.
MC Digital's family will include several employees dispatched from MC, including two officers (its CEO and COO) and managers in charge of new business development. By uniting those employees with its own core staff, the subsidiary will endeavor to realize MC's digital strategies and create new and innovative services.
(1) Midterm Corporate Strategy 2021, announced in November 2018
(2) Application of digital technologies to create new business models and value
Name: MC Digital, Inc.
Representative: Takuya Hirakuri
Office: WeWork Marunouchi-Kitaguchi Building (1-6-5, Marunouchi, Chiyoda, Tokyo, Japan, 100-0005)
Date Established: 12th September, 2019
Capital: 100 million yen (including capital surplus of 50 million yen)
Shareholder: Mitsubishi Corporation (100%)
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
Dec 3, 2019 15:49 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
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