Press Release
Chubu Electric Power and IIJ Agreed to Establish a Joint Venture for Connected Home Business
February 06, 2018
Chubu Electric Power Co.,Inc.
Internet Initiative Japan Inc.
TOKYO - February 06, 2018 - Chubu Electric Power Co., Inc. (Chubu Electric Power, TSE1: 9502) and Internet Initiative Japan Inc. (IIJ, NASDAQ: IIJI, TSE1: 3774) today announced that they have agreed on a partnership to establish a joint venture company that will provide IoT services to households.
Chubu Electric Power has been taking initiative of technological management strategies for innovation to create new businesses and services that utilize emerging technologies such as IoT and AI.
IIJ, who has a variety of technology elements necessary for IoT by leveraging its network technology expertise, seeks to expand its IoT-related business domain from enterprise to consumer.
As IoT-related market is expected to further grow, the two companies decided to establish a joint venture that would develop and provide innovative services by incorporating the latest IoT technologies to collect data related to everyday life and make its customers' lives more convenient and comfortable. Specifically, the joint venture would develop and provide multiple services that enable consumers to check information obtained from various devices such as Webcam, thermo-hygro sensors and to operate home electric appliances remotely with smartphones.
The two companies will work together on developing more detailed business plan for the new company.
[Company's overview]
|
Business Activities |
IoT services for households |
|---|---|
|
Company Form |
Limited Liability Company |
|
Date of Establishment |
Scheduled for April 2018 |
|
Capitalization |
JPY100 million |
|
Location |
Chiyoda-ku, Tokyo, Japan |
(Note) Further details on the new company such as company name and representatives will be announced as they are decided.