SoftBank and Advanced Smart Mobility Form Joint Venture
to Offer Smart Mobility Services
that Utilize Self-driving Technologies SoftBank invests 500 million yen in Advanced Smart Mobility
in conjunction with joint venture establishment
March 29, 2016
Advanced Smart Mobility Co., Ltd.
SoftBank Corp. (“SoftBank”) and Advanced Smart Mobility Co., Ltd. (“Advanced Smart Mobility”) today announced they agreed to establish a joint venture, SB Drive Corp. (“SB Drive”), in April. SB Drive will work to commercialize smart mobility services that utilize self-driving technologies. In conjunction with the establishment of the joint venture, in April SoftBank will acquire invest 500 million yen in Advanced Smart Mobility by acquiring a third-party allocation of shares.
SB Drive will verify and test the commercial viability of community mobility services between designated points that utilize self-driving technologies logistics and passenger transportation businesses that use ordered and autonomous driving (see ‘Network to realize smart mobility services’ chart below). SB Drive will combine the self-driving technology of Advanced Smart Mobility, which is aiming to realize a society of advanced mobility based on technologies developed by the ITS Center of the University of Tokyo, and SoftBank's know-how in communications infrastructure, security and big data usage and analysis under a cooperative framework with Yahoo Japan Corporation, which operates a leading portal in Japan, “Yahoo! JAPAN”. SB Drive will construct services with a view to realizing a society where local governments, logistics and travel operators and individuals can utilize safe smart mobility services that utilize self-driving technologies.
SB Drive Overview
|Company name||SB Drive Corp.|
|Established||April 1, 2016 (plan)|
|Representative||Yuki Saji, President & CEO|
|Location||1-9-1 Higashi-shimbashi, Minato-ku, Tokyo, Japan|
|Shareholders||SoftBank Corp., Advanced Smart Mobility Co., Ltd. (from April 15, 2016*)|
|Activities||Consulting on the implementation of self-driving technologies and their operation
Development and operation of mobility service related to passenger transport and logistics
|URL||http://www.softbank.jp/drive/ (in Japanese)|
- *SoftBank will establish SB Drive as a wholly-owned subsidiary and convert to a joint venture by transferring stock to Advanced Smart Mobility.
Network to realize smart mobility services
- SoftBank, the SoftBank name and logo are registered trademarks or trademarks of SoftBank Group Corp. in Japan and other countries.
- Yahoo! is a registered trademark or trademark of Yahoo! Inc. in the U.S.
- The information is true and accurate at the time of publication.
Price, specification, contact and other information of products and service may be subjected to change. The information contains certain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.