Oct. 11, 2019
Sumitomo establishes DX technology subsidiary, Insight Edge Inc.
To accelerate digital transformation (DX) at the Sumitomo Corporation Group, Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) has established Insight Edge Inc. (hereinafter, “IE”), a company that specializes in DX technologies and engineering.
Sumitomo Corporation recognizes digitization as an opportunity for a paradigm shift in the group’s business. Creating next-generation businesses leveraging technologies is one of the key growth strategies of Sumitomo Corporation’s “Medium-Term Management Plan 2020”. Sumitomo Corporation established DX Center in April 2018, where members in business and IT from within and outside the company are promoting DX throughout the group. Since data analysis, prototype development and leveraging advanced technologies are indispensable to DX, IE will lead this role with technology professionals.
IE will work with leading data scientists and IT architects* to introduce digital technologies and develop new data-driven businesses in a broad range of areas. IE will cooperate with SCSK Corporation (hereinafter, “SCSK”) to shorten the processes from identifying issues to commercialization, and build a stable system for post-commercialization operation. IE will also work with start-ups and IT companies who develop cutting-edge technologies. On top of this, IE will use Sumitomo’s global CVC network operating for over 20 years, to work closely with startups. In the area of hardware, in particular, IE will cooperate with hardware start-ups through an accelerator program, HAX Tokyo, which is jointly operated by Sumitomo Corporation, SCSK, and SOSV Investments LLC, who operates HAX Shenzhen and San Francisco.
With the establishment of IE, Sumitomo Corporation aims to expand its partners, including leading technology start-ups, and accumulate knowledge and expertise as a user of new technologies. Sumitomo Corporation will progressively and proactively use digital technologies to strengthen the value of existing businesses and develop new businesses.
*IT architects: Engineers who have broad knowledge of IT and are in charge of overall design and development of optimum system platforms tailored to management strategies.
|■Overview of Insight Edge Inc.|
|・Company name||:||Insight Edge Inc.|
|・Date established||:||July 3, 2019|
|・Location||:||Sumitomo Corporation Head Office in Otemachi Place,|
|・Capital||:||48 million yen|
|・Shareholder||:||Sumitomo Corporation (100%)|
■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 “Contributing to the Development of Local Communities and Industries”, “Establishing a Foundation for Comfortable and Enriching Lifestyles”,” Providing Diverse “Accessibility”,” Developing Human Resources and Promoting Diversity”.