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| Tuesday, 25 August 2020, 14:56 HKT/SGT | |
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Source: Fujitsu Ltd | |
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News Facts:
- Fujitsu was selected as a "Digital Transformation Stock Selection (DX Stock) 2020" by Japan's Ministry of Economy, Trade and Industry (METI) and Tokyo Stock Exchange (TSE) for its efforts to fundamentally change business models and strengthen competitiveness based on digital technology.
- Fujitsu's initiatives to transform into a DX company includes the development of the DX business (the start of Ridgelinez Limited, the establishment of a revenue sharing model through co-creation with customers) as well as the promotion of a new-normal lifestyle centered on "Data" and "People" using technology.
- By reflecting the results and know-how of in-house DX implementation to its solutions and services, Fujitsu, as the best partner of customers in their DX endeavors, will aim to solve social issues with digital technologies. |
TOKYO, Aug 25, 2020 - (JCN Newswire) - Fujitsu Limited today announced that it was selected as a "Digital Transformation Stock Selection (DX Stock) 2020" in an initiative by Japan's Ministry of Economy, Trade and Industry (METI) and Tokyo Stock Exchange (TSE). The initiative is designed to select leading Japanese companies engaged in digital transformation (DX)(1), which fundamentally change business models and strengthen competitiveness based on digital technology.
Fujitsu's efforts to transform itself into a DX company, including the start of Ridgelinez Limited, a DX consulting company within the Group, and the establishment of a revenue sharing model through co-creation with customers, were highly evaluated by METI and TSE. The company has been recognized in this way for the fourth consecutive year, as it also earned the preceding title of an "Competitive IT Strategy Company"(2) three years in a row.
In recent years, industrial structures and business models are changing at an unprecedented speed, while disruptors with digital technology enter every industry. Based on its Purpose "to make the world more sustainable by building trust in society through innovation"(3), Fujitsu will reflect the results and know-how of in-house implementation of DX to the company's solutions and services, contributing to resolve social issues with digital technologies as the best partner of customers in their DX endeavors.
About the "DX Company" initiative
The "DX Company" initiative was launched in 2020 as a successor to the "Competitive IT Strategy Company" initiative, which selected companies making strategic use of IT to enhance corporate value over the medium to long term. This is the first time that companies have been selected for the "DX Company" initiative. With greater focus on DX, this new endeavor evaluates companies in relation to 1) stakeholder dialogue, 2) changes in business models, and 3) initiatives in management strategies with commitment of top management.
DX as part of Fujitsu's corporate vision
By revamping internal processes and information infrastructure, strengthening data-driven management, and transforming the culture of both organization and human resources, Fujitsu will advance its own digital transformation. Setting the DX Promotion Indices promoted by METI as one of the non-financial indicators, the company will regularly measure the progress of reforms and accelerate improvement, proactively disclosing the details of its activities. Based on technologies such as computing, AI, 5G, cyber security, cloud, data management, and IoT, Fujitsu will transform customers in three steps: "become ready for digital," "transformation of existing business," and "evolution into an ecosystem business model." By leading the DX of its customers, the company aims to transform itself into a DX Company that contributes to solving social issues.
Efforts to drive digital transformation
Development of the DX business In addition to the establishment of a new Design Center to make design management a reality, Fujitsu will position the new company, Ridgelinez Limited, as a pioneer in the DX business within the Fujitsu Group, accelerating the DX business with more flexible and agile schemes and systems. By thoroughly implementing data-driven management internally, the company will combine its knowledge and technologies to support customers in data utilization. Moreover, it will aim to expand new business models, including the development of DX solutions for data platform businesses and co-creation with customers through revenue sharing models.
Creation of a new-normal lifestyle centered on "Data" and "People" using technology Fujitsu will further promote initiatives such as the "Work-Life Shift"(4) announced on July 6, 2020, which leverage digital technology to reassess talent management, the office environment and footprint in Japan, as well as business practices to make them suitable for the new normal era. In response to COVID-19, the company will continue to assist local governments and medical institutions, offer free services to support working styles education, and support research using technology. Going forward, Fujitsu will put the highest priority on the safety of the lives of customers, suppliers, employees and their families, as well as those of stakeholders in local communities. Striving to prevent the spread of COVID-19, the company will engage in business continuity activities and fulfill social responsibilities.
(1) Digital Transformation (DX) the use of data and advanced technologies such as AI, IT, cloud, and 5G to transform innovative services and business processes.
(2) Competitive IT Strategy Company an initiative by the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) to select and announce, by industry category, companies listed on the TSE that are making strategic use of IT to enhance their corporate value over the medium to long term.
(3) Purpose a statement describing why Fujitsu exists in society - "Our purpose is to make the world more sustainable by building trust in society through innovation."
(4) Work Life Shift a new concept in which the preexisting notions of "work" and "life" are shifted to ensure the well-being of employees. Fujitsu is promoting various measures in Japan from talent management to office maintenance to raise employee productivity and accelerate its transformation into a DX company.
Topic: Press release summary
Source: Fujitsu Ltd
Sectors: Cloud & Enterprise
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From the Asia Corporate News Network
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