Mitsui Fudosan Chosen as a 2019 Competitive IT Strategy Company
April 23, 2019
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, April 23, 2019 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has been chosen by the Ministry of Economy, Trade and Industry (METI) and Tokyo Stock Exchange (TSI) as a 2019 Competitive IT Strategy Company actively promoting digital transformation (DX) to create new value, innovate management and enhance profitability and productivity.
In recent years, companies have become required to have deeper-reaching management visions and transform business models due to the spread of IT in a digital age where business environments change rapidly. In VISION 2025, Mitsui Fudosan’s long-term Vision, the effort to “Innovate business models by harnessing real estate tech” has been positioned as a priority policy Company-wide. Mitsui Fudosan was recognized for its pioneering efforts in the real estate industry to become an innovation hub organization supporting business innovation and structural establishment and for its full-scale share office business innovating the building business.
Going forward, Mitsui Fudosan will advance further utilization of technology and actively strengthen organizations and structures to support its progress.
Initiatives Gaining Recognition
1) An innovation hub organization and structural establishment supporting business innovation
Mitsui Fudosan utilizes technology in a wide variety of business fields, including buildings, retail facilities, housing, hotels and logistics. To realize innovation in the real estate industry itself, the Group is strengthening project collaboration in the following three categories and under the themes of promoting digitalization, new business development and open innovation. Doing so will strengthen the hub function system to promote Company-wide innovation and accelerate business innovation.
New Business Development
Corporate Planning Department: MAG!C
Mitsui Fudosan’s enhanced project proposal system to provide financing, personnel and incentive support to spark the Company’s enterprising spirit and DNA of innovation, to promote new business creation by extracting individual employees’ ideas
IT Innovation Department: Digital Lab
A practical human resource development program that conducts service planning, from design thinking to PoC* that utilizes technology, conducted by teams comprised of a mix of human resources from various business divisions and IT partner companies
* Proof of concept (POC): Tests or demonstrations to verify new concepts or ideas
Venture Co-Creation Department: 31 VENTURES
An open innovation platform with startups including those receiving corporate venture capital (CVC) investments and major companies
2) A full-scale shared office business innovating the building business
Companies need to actively engage in work-style reform as there is an increasing need for diverse working styles. Mitsui Fudosan has taken these requirements into account and rolled out WORK STYLING multi-site shared offices for corporate clients, which enables workers to choose from a variety of work sites depending on their working style or life stage, while companies can provide office environments utilizing technology with enhanced security and service quality, leading to improved productivity.
WORK STYLING can be used for companies’ or workers’ needs through SHARE multi-site shared offices and FLEX, which are flexible service offices that change depending on the purpose, number of people or time. Since opening in April 2017, WORK STYLING has expanded to 35 bases and has agreements with over 300 companies (as of March 31, 2019). WORK STYLING also strives to expand open innovation to create connections between companies and people, matching members and supporting collaborations between companies in addition to starting services such as introductions to leading specialists.
Going forward, Mitsui Fudosan will actively leverage technology and expand policies to make work easier and improve productivity for both companies and workers.
< Example of Technological Utilization>
- Utilizing a user app (QR code) to ascertain worker attendance
- Access management at FLEX offices using the Akerun smart lock
Competitive IT Strategy Company Stock Selection
For Japanese companies to succeed in international competition that has become increasingly harsher in recent years, it is not enough to engage in IT investment solely for the purpose of increasing the efficiency and convenience of internal operations, as has been the case until now; strategic and competitive IT investment that will increase medium- to long-term corporate value and bolster competitiveness is also vital.
METI and the TSE select Competitive IT Strategy Company Stock from listed companies that are actively using IT to create new value achieve business innovation and improve earnings and productivity, as a means of increasing medium- to long-term corporate value and strengthening competitiveness. This year is the fifth time the selection has been held, and a disclosure was made that promotion of digital transformation would be a key factor behind selection.
METI’s Competitive IT Strategy Company Page (Only in Japanese)