ORIX, Sony Network Communications, and NEC Networks & System Integration Establish a Joint Venture Aimed at the Commercialization of the ELTRES™ IoT Network Service in Japan
Oct 25, 2018
TOKYO, Japan – October 25, 2018 – ORIX Corporation (“ORIX”), Sony Network Communications Inc. (“Sony Network Communications”), and NEC Networks & System Integration Corporation (“NEC Networks & System Integration”) announced that they have agreed to establish a joint venture aimed at the commercialization of the ELTRES™ IoT Network Service in Japan.
ELTRES™ is a Low Power Wide Area (LPWA) communications standard developed by Sony, which is characterized by stable long-distance communications, high-speed mobile communications, and low-power consumption. Recognized by the European Telecommunications Standards Institute (ETSI)*1 as an international standard*2, since September 2018 Sony Network Communications has been offering a pre-service in the Japanese domestic market with a view to full-scale commercialization in the future.
The joint venture seeks to commercialize the ELTRES™ IoT Network Service in Japan. Sony Network Communications will be primarily responsible for constructing, operating and managing the network, as well as operating partner programs with companies intending to propose network-based solutions or offer network-based applications. ORIX and NEC Networks & System Integration will sell and provide the ELTRES™ IoT Network Service to partner companies, customer companies, users, and groups in various fields, and offer user support.
The joint venture will take advantage of the unique strengths of each of the member companies—the technological prowess of the Sony Group, the planning and business development skills of NEC Networks & System Integration, and the ability of ORIX to make proposals to a wide range of corporate customers—to establish partnerships and co-creation systems comprising numerous companies, including members of the ELTRES™ IoT Network Service partner programs. In this way, the venture intends to encourage the use of LPWA in a variety of disciplines and cater in a flexible manner to the diverse needs of IoT fields, such as monitoring infrastructure (such as the acquisition of LP gas meter information), managing vehicle positions (such as bus tracking), and maintaining safety (such as measures to guard against hiking accidents).
*1 The European Telecommunications Standards Institute (ETSI) is an independent, non-profit organization responsible for the creation of telecommunications standards in Europe.
*2 Published under “5 Lfour family” of “ETSI TS 103 357 V1.1.1” by ETSI.
Corporate Planning Department
ORIX Corporation TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation‐driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX’s highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 38 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website:https://www.orix.co.jp/grp/en/
(As of March 31, 2018)
Caution Concerning Forward-Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2017 – March 31, 2018.”
- View PDF of this release