MONET Forms Capital and Business Partnerships…

FILE PHOTO : Junichi Miyakawa, CEO of Monet Technologies Inc., a joint venture of SoftBank Corp and Toyota Motor Corp that will develop self-driving car services, speaks during a news conference in Tokyo, Japan March 28, 2019. REUTERS/Issei Kato/File Photo

MONET Forms Capital and Business Partnerships with Isuzu, Suzuki, Subaru, Daihatsu and Mazda
Hino and Honda to make additional investments in MONET at the same time

MONET Technologies Inc. (“MONET”) today announced that it concluded capital and business partnership agreements with Isuzu Motors Limited (“Isuzu”), Suzuki Motor Corporation (“Suzuki”), Subaru Corporation (“Subaru”), Daihatsu Motor Co., Ltd. (“Daihatsu”) and Mazda Motor Corporation (“Mazda”), respectively. Isuzu, Suzuki, Subaru, Daihatsu and Mazda each plan to invest in MONET by August 2019 and acquire approximately 2% of its shares.

Simultaneously, Hino Motors, Ltd. (“Hino”) and Honda Motor Co., Ltd. (“Honda”) plan to make additional investments in MONET and maintain their respective ownership stakes of approximately 10%.

Junichi Miyakawa, President and CEO of MONET Technologies Inc. commented on the partnerships as follows:

“In addition to those with Toyota, Hino and Honda, our new partnerships with Isuzu, Suzuki, Subaru, Daihatsu and Mazda will enable us to acquire data on their vehicles and mobility services for coordination with the MONET platform. To build a high-level MaaS platform for an autonomous driving society, it is essential to integrate a wide number of datasets, and these partnerships will further accelerate our progress in building the MaaS business that MONET is aiming for.

MONET will utilize the data provided by each company and leverage their automotive industry insights and networks. Together with our automotive manufacturer partners we will work to realize and spread innovative mobility services that can resolve Japan’s social mobility issues and create new value.”

Masanori Katayama, President and Representative Director of Isuzu Motors Limited, commented as follows:
“Isuzu is providing various products and services to support people’s lives and social production activities. It is said that automobile industry is facing ‘a once-in-a-century innovation’ era with social issues such as serious driver shortages and the diversification of consumer needs, and Isuzu aims to create new solutions through collaborating with customers and partners. In view of this, participation in MONET will bring us tremendously valuable opportunities in a wide variety of industries so that we will make a contribution to sustainable society development.”

Toshihiro Suzuki, Representative Director and President of Suzuki Motor Corporation, commented as follows:

“By participating in MONET, Suzuki aims to resolve regional transportation issues by making mobility more convenient for residents and link these efforts to both the promotion of regional and industrial revitalization and the creation of innovative next-generation mobility services. Suzuki would like to contribute to MONET’s creation of new value with transportation, using its diverse array of transportation modes, including motorcycles, marine products and electric wheelchairs, in addition to automobiles.”

Tomomi Nakamura, President and CEO, Representative Director of the Board, Subaru Corporation, commented as follows:

“Having its roots in aircraft manufacturing, Subaru has long dedicated itself to delivering cars that provide both enjoyment and peace of mind for all drivers and passengers. By participating in MONET, we will pursue Subaru’s vision of ‘Enjoyment and Peace of Mind’ in a way that befits the new era and contribute to the resolution of social mobility issues.”

Soichiro Okudaira, President of Daihatsu Motor Co., Ltd., commented as follows:
“Under the slogan ‘Light you up,’ Daihatsu has provided mini vehicles and other products to support people’s lives. By participating in MONET, Daihatsu will work closely together with various regions to ensure the development of vital communities that residents want to keep living in. Through these efforts, we will realize sustainable mobility services that are loved by citizens.”

Akira Marumoto, President and CEO, Representative Director, Mazda Motor Corporation, commented as follows:

“By sharing the experiences and thrills made possible by the fusion of cars and digital tools, Mazda is connecting different types of people with society, and providing a new type of car value-one that conveys the ‘joy of life’ with safety, peace of mind and enrichment. By co-creating together with other MONET participants, Mazda will pursue the possibilities of mobility services that ‘invigorate the mind and body’ to resolve social mobility issues in cities and regions.”

MONET shareholder structure and investment ratios (after each company completes investment)

Shareholder Investment ratio Investment amount
(Total 2,856.70 million yen)
SoftBank Corp. Approx. 35.2% 1,005.00 million yen
Toyota Motor Corporation Approx. 34.8% 995.00 million yen
Hino Motors, Ltd. Approx. 10.0% 285.60 million yen
Honda Motor Co., Ltd. Approx. 10.0% 285.60 million yen
Isuzu Motors Limited Approx. 2.0% 57.10 million yen
Suzuki Motor Corporation Approx. 2.0% 57.10 million yen
Subaru Corporation Approx. 2.0% 57.10 million yen
Daihatsu Motor Co., Ltd. Approx. 2.0% 57.10 million yen
Mazda Motor Corporation Approx. 2.0% 57.10 million yen

* Company names, product/service names included in this press release are registered/non-registered trademarks of the respective companies.

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