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February 6, 2018
Chubu Electric Power Co., Inc.
Internet Initiative Japan Inc.
TOKYO-February 6, 2018-Chubu Electric Power Co., Inc. (Chubu Electric Power, TSE1: 9502) and Internet Initiative Japan Inc. (IIJ, NASDAQ: IIJI, TSE1: 3774) today announced that they have agreed on a partnership to establish a joint venture company that will provide IoT services to households.
Chubu Electric Power has been taking initiative of technological management strategies for innovation to create new businesses and services that utilize emerging technologies such as IoT and AI.
IIJ, who has a variety of technology elements necessary for IoT by leveraging its network technology expertise, seeks to expand its IoT-related business domain from enterprise to consumer.
As IoT-related market is expected to further grow, the two companies decided to establish a joint venture that would develop and provide innovative services by incorporating the latest IoT technologies to collect data related to everyday life and make its customers' lives more convenient and comfortable. Specifically, the joint venture would develop and provide multiple services that enable consumers to check information obtained from various devices such as Webcam, thermo-hygro sensors and to operate home electric appliances remotely with smartphones.
The two companies will work together on developing more detailed business plan for the new company.
|Business Activities||IoT services for households|
|Company Form||Limited Liability Company|
|Date of Establishment||Scheduled for April 2018|
|Location||Chiyoda-ku, Tokyo, Japan|
Founded in 1992, IIJ is one of Japan's leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. IIJ's services include high-quality Internet connectivity services, systems integration, cloud computing services, security services and mobile services. Moreover, IIJ has built one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom and Asia. IIJ was listed on the U.S. NASDAQ Stock Market in 1999 and on the First Section of the Tokyo Stock Exchange in 2006.
The statements within this release contain forward-looking statements about our future plans that involve risk and uncertainty. These statements may differ materially from actual future events or results. Readers are referred to the documents furnished by Internet Initiative Japan Inc. with the SEC, specifically the most recent reports on Forms 20-F and 6-K, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
Chubu Electric Power Co., Inc., Public Relations Department, News Group;
IIJ Corporate Communications
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