SWS News FY 2015
June 30, 2015
Establishment of joint venture company to operate
Sumitomo Wiring Systems, Ltd. (hereafter ""SWS""), Japan Transcity Corporation (hereafter ""Transcity""), Mie Toyota Co., Ltd.hereafter ""Mie Toyota""), and Taniguchi Oil Corporation (hereafter Taniguchi Oil"") have agreed to establish a joint venture company to operate Mie Prefecture's first commercial mobile hydrogen station.
The Japanese government established and announced the ""Hydrogen/Fuel Cell Strategy Roadmap"" last year. To that end, private-public joint approaches have accelerated to make a hydrogen society a reality. For example, Japanese automobile manufacturers have released the world's first fuel-cell vehicle. The Japanese government has promoted the establishment of hydrogen stations to increase the number of these to 100 locations by fiscal year 2015 through the expansion of subsidies and review of restrictions.
It is essential to establish hydrogen stations to expand use of fuel-cell vehicles, commonly referred to as ultimate eco-cars. However, we understand that the efforts of infrastructure companies themselves are not enough to achieve this in the near future, especially in rural areas, because of a variety of challenges involving costs, systems, supply and demand.
In light of these circumstances, the above four companies, with Head Offices based in Mie Prefecture, have agreed to establish a hydrogen station to encourage popularization of fuel-cell vehicles in Mie Prefecture and assist in making our region environment-friendly.
More specifically, the four companies will capitalize a joint venture company to launch a hydrogen supply business by operating the mobile hydrogen station. Although we will progressively establish more hydrogen supply locations, we plan to start by establishing them in Yokkaichi City and Tsu City in Mie Prefecture.
In this business, SWS and Transcity will be mainly involved in the overall business operational management, Mie Toyota in sales and promotional activities, and Taniguchi Oil in on-site management. In addition, it is planned that SWS and Mie Toyota will provide the hydrogen supply locations. We will make efforts to commence operation as soon as possible while obtaining support from relevant administrative bodies, including Mie Prefecture.
In the future, we will ask a wide range of companies and organizations with their business offices in Mie Prefecture, and that agree to the purpose of the establishment of this joint venture company, for cooperation and support to establish the ""ALL MIE"" system. We are determined to make fuel-cell vehicles popular through the operation of hydrogen stations.
Contact regarding this issue:
Public Relations Section, General Affairs Department, SWS Tel: +81-59-354-6201