Marubeni : and REVOX Form a Capital Alliance:Advancing DX in Small and Medium Sized Manufacturing Enterprises through AI Based Quotation, Manufacturing Design, and Procurement Support
May 22, 2024 at 10:03 pm EDT
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May 23, 2024
Marubeni Corporation
REVOX Corporation
Marubeni Corporation (hereinafter, "Marubeni") and REVOX Corporation (hereinafter, "REVOX") have entered into a capital alliance agreement (hereinafter, the "Capital Alliance") and agreed to collaborate on the development and sale of a system involving AI-based quotation, manufacturing design, and procurement support software to accelerate digital transformation (hereinafter, "DX") in small and medium-sized manufacturing enterprises (hereinafter, "SMEs"). In connection with the Capital Alliance, Marubeni underwrote shares issued by REVOX through a third-party allotment on May 17th.
Although the manufacturing industry is a core industry in Japan, it has long been facing a labor shortage due to the decrease in the country's working population and younger generations moving away from the industry. SMEs, which account for 99% of Japan's manufacturing companies, are especially in urgent need of improving their productivity. In particular, calculating costs and issuing appropriate quotations are major bottlenecks for such companies due to the large amount of inquiries they receive and the need for specialized knowledge.
REVOX began the system's development in 2020 when it participated in the Ministry of Economy, Trade and Industry's "SMEs Strategic Informatization Commissioning Project (commonly known as "AI Quest")" and is currently developing a cloud service called "SellBOT" (patented) that has functions to support quotation, manufacturing design, and procurement using AI. In its current form, "SellBot" is a platform to promote DX for SMEs as well as larger manufacturers who collaborate with these companies, and its number of users is steadily increasing. Marubeni will support REVOX's business operations by utilizing its knowledge and network in the manufacturing field, both in Japan and overseas, to help expand sales of "SellBOT" and enhance its functionality.
Through this capital alliance, Marubeni and REVOX will provide new value that will help solve problems in the manufacturing industry and contribute to raising the competitiveness of the Japanese manufacturing industry.
REVOX Overview
Company Name:
REVOX Corporation
Location:
135-1 Hanzaemon Shinden, Shimizu-ku, Shizuoka City, Shizuoka Prefecture
Establishment:
November 30, 2021
Representative:
President & CEO Takamasa Miyaki
Main Business:
Provides services in the planning, design, development, and sales of software and applications for the manufacturing industry
Website:
https://www.sellbot.jp
Marubeni Overview
Company Name:
Marubeni Corporation
Location:
4-2, Otemachi 1-chome, Chiyoda-ku, Tokyo, Japan
Establishment:
December 1, 1949
Representative:
President & CEO Masumi Kakinoki
Main Business:
Through its domestic and international network, the company is engaged in a wide range of business activities, including import, export (including foreign transactions) and domestic transactions, as well as various service operations, domestic and foreign business investment, and resource development.
Website:
https://www.marubeni.com/en/
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Marubeni Corporation published this content on
23 May 2024 and is solely responsible for the information contained therein. Distributed by
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Marubeni Corporation is a diversified group organized primarily around 12 business segments:
- sale of agricultural products and related services (47% of net sales): sale of agricultural inputs (crop protection products, fertilizers, seeds, etc.), precision farming services, formulation of crop protection products, export of cereals and oilseeds, etc.;
- sale of food products (17.6%);
- production and distribution of oil, gas, alternative energy and electricity (10.4%);
- production of chemicals and petrochemicals (6.4%);
- production of metals and mineral resources (4.9%);
- sale and financing of industrial and construction machinery and equipment (4.6%). The group also develops car sales and tire distribution activities;
- sales of consumer electronics (4.3%). In addition, the group develops real estate development and management activities;
- sale of forest products (2.3%): wood chips and biomass fuel, pulp and waste paper, paper, paperboard, hygiene products, building & construction materials and wood products;
- sale of apparel, accessories, textile and lifestyle products (1.1%);
- management and operation of aircraft and ships (1%);
- development of energy production units and industrial installations (0.3%);
- finance and leasing (0.1%): auto finance, aircraft leasing, aircraft engine leasing, leasing and renting of refrigerated trailers, commercial vehicles and commercial freight railcars, etc.
Net sales are distributed geographically as follows: Japan (37.2%), the United States (42.5%)
Marubeni : and REVOX Form a Capital Alliance:Advancing DX in Small and Medium Sized Manufacturing Enterprises through AI Based Quotation, Manufacturing Design, and Procurement Support