ITOCHU : Announces Investment in and Business Partnership with Timee, Inc.
September 09, 2021
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ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter 'ITOCHU') announced investment in Timee, Inc. (headquartered in Toshima-ku, Tokyo; Ryo Ogawa, CEO; hereinafter 'Timee') by partially acquiring the third-party allocation of shares (series D) conducted by Timee. At the same time, ITOCHU formed a partnership with Timee aiming to facilitate the expansion of the human resource matching service provided by the company and the creation of new business together.
Timee is operating an on-demand staffing platform service that matches the time people who want to work with businesses which have urgent labor needs. Workers simply pick their desired job, start working immediately and are paid directly afterwards. Companies only need to specify the hours and desired skills, and then are matched with a reliable and flexible workforce.
While the ways of working are diversifying, backed by eased regulations on auxiliary business and the growing popularity of teleworking, etc., businesses are facing growing difficulties in reliably securing human resources given a decreased labor population and a continuous rise in labor costs. Timee provides a means for recruitment and job search that responds to these changes in the social environment.
As a partner and business agent of Timee, ITOCHU provides the service to the ITOCHU Group and its many business partners to steadily help individual companies solve problems such as labor shortages and a rise in labor costs.
In addition, it will promote new value creation through, for example, the development of new services which improve convenience for workers by blending a wide range of IT, finance, and other functions that ITOCHU possesses with Timee's networks of both workers and companies.
Outline of Timee, Inc.
Corporate name
Timee, Inc.
Headquarters
27F Hareza Tower, 1-18-1 Higashi-ikebukuro, Toshima-ku, Tokyo
Established
August 2017
Representative
CEO : Ryo Ogawa
Business Activities
Planning, development, and operation of the ond-demand staffing platform service 'Timee'
URL
https://timee.co.jp/ (Japanese)
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Itochu Corporation published this content on 10 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2021 10:41:09 UTC.
Itochu Corporation is a diversified group organized around 8 areas of activity:
- distribution of food products (34.9% of net sales): frozen food, vegetable oil, sweeteners, sugars, etc.;
- distribution of hydrocarbons (23.3%): hydrocarbons (natural gas, oil products, bioethanol, etc.). The group also develops manufacturing of chemical products activity;
- manufacturing and sale of industrial and construction machines, vehicles and ships (9.7%);
- production of metals and coal (8.5%);
- sale of consumer products (8.4%). The group also develops forest products sale and real estate development activities;
- distribution of computing and telecommunication equipments (7%): data transmission, Internet access, media content broadcasting and mobile telephony equipments. The group also offers financial services;
- sale of textile products (3.6%);
- other (4.6%).
Net sales are distributed geographically as follows: Japan (79.5%), Singapore (5.4%), the United States (4.5%), Australia (3.1%), China (2.8%) and other (4.7%).
ITOCHU CORPORATION 
