Oct. 04, 2018

Toyota and SoftBank Agreed on Strategic Partnership To Establish Joint Venture for New Mobility Services

SoftBank Corp.
Toyota Motor Corporation

Toyota City, Japan, October 4, 2018―Toyota Motor Corporation ("Toyota") and SoftBank Corp. ("SoftBank") have agreed to form a strategic partnership to facilitate the creation of new mobility services, and plan to establish a joint venture company, MONET Technologies Corporation ("MONET"), before the end of the 2018 fiscal year (April 2019). The objective of MONET is to help realize a safer and more comfortable mobility society by combining SoftBank's corporate philosophy, "Information Revolution - Happiness for everyone," with Toyota's vision of "Mobility for All."

The name "MONET" combines the first letters of the words "mobility network," and was chosen to embody the desire of both companies to build a mobility network that provides safer and more comfortable mobility to everyone.

MONET will provide coordination between Toyota's Mobility Services Platform ("MSPF"), Toyota's information infrastructure for connected vehicles, and SoftBank's Internet of Things (IoT) Platform, which was built to create new value from the collection and analysis of data acquired from smartphones and sensor devices. By utilizing a wide range of different forms of data related to automotive and human mobility on both platforms, MONET is aiming to optimize supply and demand in transportation and, ultimately, to launch Mobility-as-a-Service (MaaS) businesses capable of resolving social mobility issues and creating new value.

For the first phase, MONET plans to roll out just-in-time vehicle dispatch services for local public agencies and private companies throughout Japan. These services, which will include on-demand transportation through regional partnerships and corporate shuttles, will be provided in tune with user demand.

By the second half of the 2020s, MONET plans to roll out Autono-MaaS^*1 (autonomous mobility as a service) businesses using e-Palette, Toyota's dedicated battery electric vehicle for mobility services that can be used for various purposes, including mobility, logistics, and sales. Possibilities include demand-focused just-in-time mobility services, such as meal deliveries vehicle where food is prepared while on the move, hospital shuttles where onboard medical examinations can be performed, mobile offices, and many more. MONET also intends to roll out these businesses in Japan with an eye to future expansion on the global market.

*1	"Autono-MaaS" is a new word created by combining "autonomous vehicle" and "mobility as a service (MaaS)." It describes mobility services that use autonomous vehicles provided by Toyota.

Illustration of MONET's business model

Outline of MONET Technologies Corporation

Representative	President and CEO Junichi Miyakawa (Representative Director & CTO of SoftBank Corp.) Representative Director and COO Yoshihide Shibao (Project General Manager, MaaS Business Division, Connected Company of Toyota Motor Corporation) Director Keiji Yamamoto (Managing Officer of Toyota Motor Corporation) Director Ryuji Wakikawa (Vice President, Advanced Technology Division of SoftBank Corp.)
Capital	2.0 billion yen (to be increased to 10.0 billion yen in the future) (including capital reserve)
Share structure	SoftBank Corp. 50.25% Toyota Motor Corporation 49.75%
Details of business	On-demand mobility services Data analysis services Autono-MaaS businesses
Planned date of establishment	Before the end of the 2018 fiscal year

The new company will start its business operation after the completion of all required procedures and the receipt of all necessary regulatory approvals.