Dec. 18, 2017
Joint development of self-storage service accessible via smartphone
Sumally KK (head office: Shibuya-ku, Tokyo; Chief Executive Officer and Representative Director: Kensuke Yamamoto; “Sumally”) and Sumitomo Corporation (head office: Chuo-ku, Tokyo; Representative Director, President and Chief Executive Officer: Kuniharu Nakamura; “Sumitomo”) have agreed to form a partnership in order to develop Sumally Pocket, a self-storage service accessible via smartphone. Under the related partnership agreement, Sumitomo will invest in Sumally through a third-party allocation of newly issued shares.
Sumally Pocket was launched in 2015 by Sumally in collaboration with Warehouse TERADA (“TERADA”). Under the service, users use a home delivery service to send items to warehouses operated and administered by TERADA and stored items are photo-catalogued and displayed on a smartphone app developed by Sumally. The app also provides a number of convenient add-ons, such as for online auctions and laundry, in addition to selective retrieval from storage. Thus, individual users can easily manage storage contents from their smartphone.
The recent partnership aims to respond to the rising demand for self-storage services in and around Tokyo, where a growing population is driving down the amount of residential space on a per-capita basis, particularly in densely populated areas. The self-storage industry is expected to expand in years to come, with its market increasing to 82 billion yen by 2020 from 65 billion yen in 2016.
Sumally and Sumitomo will combine their respective resources and know-how to develop the Sumally Pocket service so as to accommodate the growing consumer need for storage spaces.
In 2011, immediately after its establishment, Sumally launched a social networking site (Sumally) where users can make online lists of “haves” and “wants” for a wide variety of goods as well as buy and sell listed items. Using the newly raised funds, the company plans to create a platform to allow Sumally Pocket users to make effective use of stored items and increase the opportunity for Sumally users to find items they “want.” Thus, the company will combine the two services synergistically, seeking to expand the C2C business and build sharing businesses.
Sumitomo can deliver potential Sumally Pocket users through its broad range of retail channels from condominium and other real estate business and group companies, including Jupiter Telecommunications and Jupiter Shop Channel. The company will endeavor to enhance the partnership business, producing a synergistic effect through combination with B2C businesses, while promoting the C2C and sharing businesses jointly with Sumally, utilizing its e-commerce logistics and marketing know-how built over years of operation.
Also, we will pursue a partnership with TERADA, a shareholder of Sumally and leading expert in the storage-related business, aiming to create a new business to meet diversifying needs directed at more convenient and comfortable lifestyles.
|■Outline of Sumally KK|
|Company name||:||Sumally KK|
|Establishment||:||April 1, 2010|
|Capital||:||356 million yen|
|Business||:||Development and operation of social networking sites|
|Major projects||:||Sumally (SNS for sharing information on personal possessions); Sumally Pocket (app for self-storage service)|
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “Contributing to the Development of Local Communities and Industries” and “Establishing a Foundation for Comfortable and Enriching Lifestyles”.
Corporate Communications Department,