Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 2 June 2020, 13:54 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corporation and NTT complete investment in HERE Technologies

TOKYO, June 2, 2020 - (JCN Newswire) - Mitsubishi Corporation (MC) and Nippon Telegraph and Telephone Corporation (NTT) announced today that they have completed the acquisition of a 30% stake in HERE Technologies (HERE) as of May 29, 2020, through a holding company which MC and NTT newly established in the Netherlands in December 2019.


Investment Scheme


HERE is the world's leading company in the location-based services field. Building on its strong position in the automotive industry, the company has in recent years expanded its location platform to serve several other sectors, such as transportation and logistics, media and telecoms. HERE data and technology are also at the heart of a growing array of use cases that employ artificial intelligence to enable better real-world outcomes for enterprises and their customers.

In December 2019, MC and NTT agreed to form a business alliance with the aim of transforming industrial value chains and creating new value through digital transformation (DX), and are continuing to study the specifics. As one of the core technologies of DX, which both companies are promoting, MC and NTT will utilize the technological foundation of HERE to promote the development of location services in logistics, urban transportation, retail, finance, and other areas.

MC and NTT are jointly working to develop services that provide optimal routes in logistics by utilizing HERE's world's largest and most accurate location information database to visualize vehicle locations and operation conditions. Both companies are studying alliances with logistics partners involved in home delivery (last-mile delivery) and trunk line transportation (mid-mile delivery), where demand is expected to increase in the future, and aim to start several PoCs by the end of the year. In addition, in smart city projects in regional cities, new mobility services (such as on-demand buses) are attracting attention, and MC and NTT will partner with local transportation operators to integrate HERE's location information to develop the most appropriate means of transportation for operators and users.

Going forward, MC and NTT will continue to accelerate their collaboration with HERE, leveraging their strengths in industrial knowledge and ICT technology, and will strive to enhance HERE's corporate value and expand the services it provides.

"We welcome Mitsubishi Corporation and NTT as new strategic investors, supporting our long-term growth ambitions. Both companies recognize the enormous potential for location data and technology to fuel innovation, boost efficiency and sustainability, and ultimately make the world a better place," said Edzard Overbeek, CEO, HERE Technologies.

For the corporate video, visit:
https://www.youtube.com/watch?v=Zh6k3keIGhU


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/.

Contact:
Mitsubishi Corporation
Telephone:+81-3-3210-2171
Facsimile:+81-3-5252-7705


June 2, 2020 13:54 HKT/SGT
Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Local Business
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://ph.linkedin.com/company/mitsubishi-corporation

Mitsubishi Corporation
Nov 24, 2020 13:15 HKT/SGT
Mitsubishi Corporation Signs Contract with Egyptian Government for Phase 1 of Cairo Metro Line 4
Oct 30, 2020 23:10 HKT/SGT
Hitachi Rail and Mitsubishi Corp to Deliver Metro de Panama Line 3 worth JPY 92.0 Billion
Oct 28, 2020 09:30 HKT/SGT
Trials of Jointly Developed Compact LNG Filling System to Commence in Hokkaido
Oct 27, 2020 11:25 HKT/SGT
Mitsubishi Corporation: Cross-Industry Investment by Seven Enterprises in New TradeWaltz Platform
Oct 1, 2020 09:09 HKT/SGT
MC Commences Feasibility Study on Biometric Authentication Platform in Turkey
Sept 23, 2020 15:00 HKT/SGT
Mitsubishi Corporation: Use of CO2 in Concrete / Partnership with Blue Planet Systems Corporation
Sept 15, 2020 08:41 HKT/SGT
Mitsubishi Corporation and Surbana Jurong Joint Venture to Form Partnership with SinarMas Land to Advance Smart, Sustainable Transit-Oriented Developments in Indonesia
Aug 13, 2020 14:33 HKT/SGT
Mitsubishi Corporation Releases Financial Results for the Three Months Ended June 2020
Aug 11, 2020 08:07 HKT/SGT
Mitsubishi Corporation: Commercial Operations Commence at Cameron LNG
Aug 6, 2020 12:36 HKT/SGT
Mitsubishi Corporation: Trials of "KnowRoute", AI-Controlled On-Demand Bus Service to Commence in Shiojiri City, Nagano Prefecture
More news >>
 News Alerts
Copyright © 2020 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: