Start of Carsharing Service in Stockholm

Sumitomo Corporation (Head office: Chiyoda-ku, Tokyo; President and Chief Executive Officer: Masayuki Hyodo) and Sumitomo Corporation Europe (Head office: London, UK; Chief Executive Officer: Takashi Yamana) (hereinafter collectively referred to as the “Sumitomo Corporation Group”) will begin a carsharing service (hereinafter, “this service”) in Stockholm through Sumitomo Corporation’s wholly owned subsidiary Aimo Solution AB (Head office: Stockholm, Sweden; Chief Executive Officer: Koichi Harayama).

With the expansion of the sharing economy due to the spread of smartphones, services such as carsharing have gained momentum in the field of mobility services. Carsharing services have grown their user base in many cities due to shifts in the notion of ownership caused by changes in the social landscape. These services are also attracting attention as solutions to congestion, air pollution, lack of parking spaces, and other issues that urban areas in developed countries face.

This service will begin in the city of Stockholm from November, 2018. The smartphone app enables everything from searching for vehicles to payment. It is a free-floating carsharing service that allows users to rent or return vehicles anywhere within the specified area, which covers most of the city. Three hundred electric vehicles will be made available. The goal is to acquire 50,000 users by 2020, and expansion into other countries and cities is also being planned. In the future, we will aim to link various mobility services (public transportation including buses, trams and trains, as well as taxis, scooters, or bicycles) and provide a seamless and efficient solution, in which users pay only for the amount of services they use, through a single smartphone app. Currently, it is said that private-use cars are used only about five percent of the time on average. With mobility services of the future set to replace private-use cars, we will provide a comprehensive mobility platform, starting with carsharing, and solve various urban issues, as well as contribute to urban development that energizes people and the community.

The cornerstone of the automobile-related business of the Sumitomo Corporation Group has centered on sales and distribution, leasing, finance, and manufacturing, and the Group is also steadily expanding its portfolio in the field of mobility services. By responding to the dramatically changing needs of the current generation, and by combining our existing business with digital technology including the Internet of Things (IoT), big data, and artificial intelligence (AI), we will strive to achieve a more convenient and enriched society.

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■Corporate profile of Aimo Solution AB
Location	:	Warfvinges väg 30, 112 51 Stockholm
Business description	:	Free-floating carsharing service in Stockholm
Shareholder	:	100% owned by Sumitomo Corporation
Paid in capital	:	40 million SEK (Swedish kronas)
Established	:	May 2018
Number of employees	:	7

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■Material issues for Sumitomo Corporation

The Sumitomo Corporation Group has defined the “Six Material Issues to Achieve Sustainable Growth with Society” as significant elements in formulating corporate strategies and in the decision-making processes in each business, thus aiming to achieve sustainable growth by solving issues through its business activities. This business contributes especially to “Achieving Harmony with the Global Environment,” “Contributing to the Development of Local Communities and Industries,” “Establishing a Foundation for Comfortable and Enriching Lifestyles,” and “Providing Diverse ‘Accessibility.’”