Sumitomo Corporation and SMFL MIRAI Partners Agree to Strengthen Collaboration in Digital Infrastructure- MOU Signed to Expand Cooperation Starting with International Submarine Cable Connecting Japan and Asia -

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shingo Ueno) and SMFL MIRAI Partners Company, Limited (Head Office: Chiyoda-ku, Tokyo; President: Akira Ueda, hereinafter “SMFL MIRAI Partners”), a strategic subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited (Head Office: Chiyoda-ku, Tokyo; President: Tetsuro Imaeda, hereinafter “SMFL”), are pleased to announce that we have signed a memorandum of understanding (MOU) to strengthen collaboration in digital infrastructure development.

As the first initiative under this collaboration, the companies will participate in the “I-AM Cable (Intra-Asia Marine Cable)” project, to construct and operate a large-scale submarine communication cable connecting Japan, Malaysia, and Singapore (hereinafter “the Project”). The total project cost is approximately 1 billion US dollar, and expected to significantly contribute to the growth of the digital economy in Asia.

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With the advancement of digitalization and AI, the importance of digital infrastructure such as submarine cables—which handle approximately 99% of international data transfers—continues to grow. Starting with the Project, both companies will explore other submarine cable projects in different regions. In addition to submarine cables, we will also pursue a wide range of collaboration opportunities in the digital and network infrastructure sector.

Sumitomo Corporation has accumulated extensive experience and expertise through the development and operation of various infrastructure businesses, including telecommunication, around the world. The company is also working to promote digital and AI-driven transformation across society and industry, including the planned full acquisition of SCSK. Leveraging its rich track record and know-how, Sumitomo Corporation will further strengthen its businesses in the digital infrastructure value chain.

The SMFL Group has been enhancing its initiatives in the infrastructure sector by providing a wide range of financial solutions, such as loans and equity for data centers. Through collaboration with partners, the group will respond to societal changes such as the spread of cloud computing and AI and contribute to the realization of a sustainable society from both financial and business perspectives.

Sumitomo Corporation and the SMFL Group position the digital sector as one of their key focus areas, aiming to create new opportunities and transform existing businesses. Building on existing broad customer bases and networks, the two companies will promote collaboration in digital infrastructure businesses.

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