Jun. 07, 2021
Selected as "Noteworthy DX Company 2021" and "DX Certified Business Operator"
Sumitomo Corporation has been selected as a "Noteworthy DX Company 2021" following last year's designation as a "DX Stock 2020" under the Digital Transformation Stock Selection (DX Stocks) program by the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange, and as a "DX Certified Business Operator" under the "DX Certification” established by METI.
The companies selected as DX Stocks are all working on new growth strategies and bolstering their competitiveness by radically transforming their business models via digital technology. In addition to these DX Stocks, twenty companies, including us, that are pursuing distinctive initiatives tailored to the purposes of their brands have been selected as Noteworthy DX Companies 2021.
The DX Certification recognizes DX Certified Business Operators as companies ready to pursue DX in accordance with the Act on Facilitation of Information Processing.
Sumitomo Corporation has established the DX Center as an organization dedicated to DX in the Digital Business Division in April 2018. Since then, we have been tackling DX-based innovation globally in collaboration with SCSK, an IT service company in our Group also selected as a DX Certified Business Operator. As a result, more than 300 DX projects have been created in the last three years, and we are currently focusing on about 60 initiatives that can make an impact on society.
In April 2019, a Chief Digital Officer (CDO) was appointed to take charge of planning, preparing and promoting company-wide digital strategies. By enhancing our global corporate venture capital (CVC) (*1) fields and by setting up an accelerator business in the hardware domain through HAX Tokyo (*2), the data marketing company SC Digital Media and Insight Edge, a technology subsidiary specialized in DX, we have been establishing systems to promote DX. Our activities and policies, including efforts to raise employee awareness and appropriately disclose information on these efforts to stakeholders, have won high regard.
Under the new medium-term management plan "SHIFT 2023" announced in April 2021, we will be focusing on making a shift in our business portfolio through DX-driven business transformation. In areas such as energy innovation, social infrastructure, retail/consumer, healthcare, and agriculture that are our next-generation growth fields, we will be undertaking business transformation and new business development utilizing digital solutions. We will also be accelerating our corporate transformation (CX) by optimally allocating management resources company-wide and reforming our human resources system.
- Corporate venture capital: An organization activity that provides investment and support with funding composed of a company’s own capital, primarily for unlisted startup companies
- HAX Tokyo: HAX is an accelerator program (an initiative that performs such activities as the provision of the knowledge and experience necessary for new business creation and project development to startups that are in the possessions of innovative technology and business models, and accelerates growth) related to hardware such as robotics and IoT for startups that boasts a global track record, and HAX Tokyo is jointly managed by Sumitomo Corporation, SOSV (a U.S. venture capital that is the management body of HAX), and SCSK.