Joint Development of Health Care Services Using AI/IoT Technology

Today, Chubu Electric Power Co., Inc. (Headquarters: Higashi-ku, Nagoya-shi; President & Director: Satoru Katsuno; hereafter, "Chubu Electric Power") and FiNC Technologies Inc. (Headquarters: Chiyoda-ku, Tokyo; Representative Director & President: Yuji Mizoguchi; hereafter "FiNC") have agreed on a business partnership to develop new health care services.

Chubu Electric Power, in the "Chubu Electric Power Group Management Vision" made public in March, have identified "creating a new type of community" as a new growth sector. We have been working on various initiatives actively using AI/IoT technology and external resources to develop services to this end.

FiNC is a healthcare technology start-up company that specializes in using AI technology (artificial intelligence) to provide services in the preventative health care realm with "Personal AI for everyone's wellness" as their mission statement. They are currently working on further developing their "smartphone app ‘FiNC'" in which AI provides accurate health advice tailored to the user.

Chubu Electric Power will be taking on part of FiNC's shares issued through third-party allocation, and have agreed to jointly develop new services using AI/IoT and other technology.

Both companies will strive to develop preventative medicine services that lengthen the healthy life expectancy, an area where customer demand is expected to increase, as a solution to the social challenge of dwindling birthrates and an aging population.