The companies have signed a memorandum of understanding to consider a new investment fund that will encourage innovation and support project in the three technology areas. They haven’t said how much money each will invest in the fund.
By establishing this fund, Toyota says it hopes to gain access to valuable information about future technologies and market trends, which can then be incorporated into its business strategy. In addition, Toyota says it intends to use the fund to facilitate the spread of new values in the marketplace by supporting the establishment and the growth of enterprises that possess innovative technology.
SMBC hopes to play a leading role in facilitating economic growth through the establishment of a socially meaningful fund for developing next-generation technologies. The fund should also help to boost its efforts to uncover and nurture promising future enterprises, the company says.
SPARX Group wants to further emphasize a long-term approach to investment in future growth, and hopes to open up new fields as an investment company to help build the society of the future.
All three companies will now consider the details of the fund, including the scale of capital investment, other potential investors, and investment targets. Their aim will be to formally establish the fund around the fall 2015.
Last week shipbuilder Hyundai Heavy Industries and Accenture announced a collaboration to design a “connected smart ship” that will enable ship owners to better manage their fleets and achieve operational savings.