NOTE: this is an archived page and the content is likely to be out of date.
Fujitsu and Mitsui to Establish a Joint Venture for Smart Community Projects
Fujitsu Limited,Mitsui & Co., Ltd.
Tokyo, December 12, 2012
Fujitsu Limited ("Fujitsu") and Mitsui & Co., Ltd. ("Mitsui") have established a joint venture company, Future City Solutions Limited, to cooperatively develop and manage smart community projects.
Future City Solutions will carry out smart community projects by combining Fujitsu's strengths in developing new services using Information and Communication Technology (ICT) with Mitsui's expertise of business development and its extensive business channels.
Background and Goals of the New Joint Venture
In recent years, smart communities have gained prominence as an important measure to solve a number of challenging social issues, such as global warming, increasing population density in urban areas, and ageing populations. Worldwide, the market for smart community projects is estimated to exceed one quadrillion yen in 2030. Furthermore, when considering the devastating effects of the Great East Japan Earthquake of last year, energy issues have garnered much attention, with smart community initiatives becoming a very important part of sustainable urban development in Japan.
Leveraging its time-tested ICT solutions, which have been cultivated over years of constructing industry and business systems, and employing the latest technologies, Fujitsu is actively engaging in smart community projects and efforts centered on regional revitalization through ICT. Fujitsu also plans to utilize its experience in these efforts in planning smart community projects outside of Japan.
Last year, Mitsui formed a joint venture with the UK-based, global engineering company Ove Arup & Partners International Ltd. Mitsui made this move after recognizing the importance of the ability to coordinate the interests of various stakeholders and of advanced engineering capabilities that bring together technologies from different fields, including energy, transportation, and buildings. By employing the advanced know-how gained from this experience, Mitsui is promoting the establishment of consortia both in and outside of Japan that connect businesses, governments, and academia, and is also actively engaged in building a new business in the field of smart communities.
Within this context, Fujitsu and Mitsui arrived at the conclusion that ICT know-how is an indispensable element in fully realizing smart communities, as it organically links the activities that make up the organization of a city, including transportation, buildings, and energy. They therefore decided to form a joint venture in order to leverage their respective areas of expertise, mutually complement each other, and generate synergy.
Initially, Future City Solutions plans to utilize business channels cultivated by Mitsui to offer the HEMS(1) cloud-based energy management solution developed by Fujitsu to a wider market of residences in Japan. In addition, Future City Solutions is aiming to collect and compile data acquired from this solution to create customized new resident services, including in medical, social, and administrative areas. In the future, the joint venture plans to further develop business centered on providing regional energy management services.
Overview of the Joint Venture
- Company Name: Future City Solutions Limited
- Address of Headquarters: 1-13-4 Nishi-Shimbashi, Minato-ku, Tokyo, Japan
- Representative: Ryoichi Murata, President (currently with Mitsui & Co., Ltd.)
- Business Description: Services related to smart communities, as well as services related to energy management systems
- Date of Establishment: December 12, 2012
- Capital: 50 million yen
- Ownership: Fujitsu (51%), Mitsui (49%)
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Over 170,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.5 trillion yen (US$54 billion) for the fiscal year ended March 31, 2012. For more information, please see http://www.fujitsu.com.
Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 152 offices in 67 countries as of November 2012. Utilizing global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing to the development of major international infrastructure and other projects in the following fields: iron and steel products, mineral and metal resources, infrastructure projects, motor vehicles, marine and aerospace, chemicals, energy, food resources, food products and services, consumer services, IT, finance and new business, and transportation logistics. Mitsui is actively taking on challenges for global business innovation around the world. http://www.mitsui.com/jp/en/index.html
Public and Investor Relations Division
Corporate Communications Division
Company:Mitsui & Co., Ltd.
All company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.
Date: 12 December, 2012
Mitsui & Co., Ltd.,