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May 13, 2019
Sumitomo Corporation

Stake acquired in construction machinery online marketplace planner/operator SORABITO

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) has invested about 500 million yen via a third-party allocation of shares in SORABITO Inc. (Head Office: Chuo-ku, Tokyo; Chairman and CEO: Takayuki Aoki; hereinafter, “SORABITO”), which plans and operates an online marketplace for heavy machinery. 

The circumstances surrounding the construction machinery industry in Japan and other countries worldwide have been dramatically altered by technological developments, and needs for labor-saving approaches, computerization and information processing, and IoT/data utilization are growing at an accelerating pace.

SORABITO is a startup company that employs information technology (IT) to resolve a variety of issues submitted by owners of construction machinery. Most of its customers are in need of heavy machinery, and the company offers a vision of smooth and reliable transactions. It currently operates ALLSTOCKER, an online marketplace for pre-owned construction machinery, and it has plans to develop a range of new services that will further invigorate the industry.

The Sumitomo Corporation Group is engaged globally in construction machinery rental, sales and servicing, and it seeks to become the world’s “No. 1 One-Stop Solution Provider” by ensuring high customer satisfaction.

By partnering with SORABITO, Sumitomo Corporation will be able to respond more flexibly than ever to newly arising needs as online convenience increases day by day, and will expand and deepen its capabilities to provide the customers of Sumitomo Corporation Group companies with the services they require. At the same time, it will be helping improve social infrastructure and promoting economic development by offering broad backing to support SORABITO’s business expansion and working to resolve issues faced by the construction machinery industry.
 





<Reference> 
■ Profile of SORABITO
Company name : SORABITO Inc.
Head office address : 1-9-2 Nihonbashi-Kayabacho, Chuo-ku, Tokyo
Date established : May 12, 2014
Representative : Takayuki Aoki, Chairman and CEO
Nature of business : Planning, development and operation of ALLSTOCKER, an international online exchange for heavy machinery
Website : https://www.sorabito.com/en/
ALLSTOCKER : https://allstocker.com/?lang=en




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■Sumitomo Corporation’s  Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “the Development of Local Communities and Industries” and “Providing Diverse “Accessibility””.




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