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Sep. 28, 2016
Sumitomo Corporation

Expansion into Sharing Business and Strategic Collaboration with akippa Inc.

Sumitomo Corporation (head office: Chuo-ku, Tokyo; President & CEO: Kuniharu Nakamura) has concluded a business collaboration agreement with akippa Inc. (head office: Osaka City, Osaka Prefecture; President & Representative Director: Genki Kanaya), a parking lot sharing platform.
 
Sumitomo Corporation and akippa will work together to fully cultivate corporate demand, promoting the use of akippa’s parking lot sharing services by Sumitomo Corporation affiliates such as Sumitomo Mitsui Auto Service, which has auto lease agreements for about 600,000 vehicles, as well as their business partners, and will develop a system for coordinating sales efforts.
 
Most sharing services at present, such as ride sharing and accommodation at private residences, are designed to meet needs between individuals. Nevertheless, with similar needs between companies expected to rise rapidly as they seek to cut costs and make more effective use of their assets, the demand for sharing is forecast to see further expansion, with individuals using parking lots owned by companies, and companies using parking spaces at private residences.
 
In view of these circumstances, Sumitomo Corporation has turned its attention to the parking lot sharing business, characterized by a ready synergy between the needs of companies and individuals, and this has led it to seek a strategic partnership with akippa. The two companies have agreed to discuss capital participation in akippa, personnel exchange, overseas expansion and other approaches that will help build more solid relations between them.
 
Value creation in the automobile industry is likely to shift in future from the ownership of automobiles as “tangible” assets to “services” such as auto leasing and sharing. As connected cars become more popular and automatic driving technology evolves, the era of owning automobiles will give way in the near future to an era of mobility services using automobiles as services. Sumitomo Corporation has its eye on this mobility service domain and, starting from its strategic partnership with akippa, will approach this business even more strategically.


 

[Profile of akippa Inc.]
Head office : Nishi-honmachi, Nishi-ku, Osaka City, Osaka Prefecture
Established : February 2009
President & Representative Director : Genki Kanaya
Capital : 1,214,468,576 JPY (including capital reserves)
Business description : Parking lot sharing service
Corporate philosophy : “Indispensable to the world”
 

 
■ Overview of services
The company provides a parking lot sharing service primarily for individual customers.
Unlike coin-operated parking, reservations can be made by smartphones, allowing business needs to be readily met.
This is a cloud-native service, enabling reservations, settlements, and all other procedures to be completed using smartphones. Rates and available days/times can be set by the day of the week or in accordance with events.
With no need to install gates, signs, fare adjustment machines, etc., this service is more price-competitive than conventional approaches and, depending on availability at parking lots, short-term sharing for a few weeks or months as well as use only on specified days of the week can be flexibly arranged.
This service currently spans more than 7,000 parking lots. akippa is number one in the industry in terms of reserved parking areas, and it ranks third in the coin-operated parking business.

Inquiries

Corporate Communications Department,
Sumitomo Corporation

TEL:+81-3-5166-3100News Release Contact Form

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