Fujitsu and Mitsui to Establish a Joint Venture for Smart Community Projects
Tokyo, Dec 12, 2012 - (JCN Newswire) - 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.
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* 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
1. Company Name: Future City Solutions Limited
2. Address of Headquarters: 1-13-4 Nishi-Shimbashi, Minato-ku, Tokyo, Japan
3. Representative: Ryoichi Murata, President (currently with Mitsui & Co.,
4. Business Description: Services related to smart communities, as well as
services related to energy management systems
5. Date of Establishment: December 12, 2012
6. Capital: 50 million yen
7. Ownership: Fujitsu (51%), Mitsui (49%)
* HEMS: The Home Energy Management System manages energy in the home. It
connects home-installed devices that produce and consume electricity and the
meters that measure them to a network, and automates control of status
monitoring and remote operation.
About Fujitsu Limited
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 www.fujitsu.com.
Public and Investor Relations
Mitsui & Co., Ltd.
Corporate Communications Division
Copyright 2012 JCN Newswire. All rights reserved. www.japancorp.net
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