Change of business unit name and acceleration of digital transformation (DX)

Sumitomo Corporation (Head office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) has renamed “Media and ICT Business Unit” to “Media and Digital Business Unit” as of October 1, 2018. The unit is responsible for promoting SC group’s digital transformation (DX), and the renaming is aimed at accelerating the digital strategies of all group companies.

In its Medium-Term Management Plan 2020, Sumitomo Corporation positioned the creation of new next-generation businesses as one of its growth strategies. By promoting DX,our company aims to create new value in various fields, reflecting the acceleration of globalization and spread of ICT resulting from the Digital Revolution that has affected the entire industry. Sumitomo Corporation is leading the SCGroup’s DX with its group company, SCSK Corporation. These include establishing an IT strategy committee in April 2018, as well as setting up a DX Center to promote DX at all group companies. DX is also being promoted by reshuffling personnel across organizations and locations to build DX experience and expertise at respective business locations, and by enhancing digital functions through mid-career hiring and employing external consultants.

For nearly 20 years Sumitomo Corporation has been operating CVCs* in Silicon Valley, Hong Kong, and elsewhere. The company looks forward to accelerating DX and generating innovations by further expanding and improving its global R&D functions, and by actively adopting advanced technologies and business models from overseas startup companies.

*CVC (corporate venture capital): Investment in startup companies for the purpose of driving mutual growth.

■ Sumitomo Corporation’s Material Issues
The 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 processes for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project should prove especially beneficial in  “Establishing a Foundation for Comfortable and Enriching Lifestyles”, “Providing Diverse ‘Accessibility’” and “Developing Human Resources and Promoting Diversity”