ORIX Enters Capital and Business Partnership with AI Image Analysis Start-Up Ridge-i
Feb 01, 2021
TOKYO, Japan - February 1, 2021 - ORIX Corporation (“ORIX”) announced today that it has entered a capital and business partnership with Ridge-i Inc. (“Ridge-i”), a start-up that offers development and consulting for systems using image analysis and other artificial intelligence (AI) technologies.
Ridge-i is a start-up that operates in a variety of industries—including manufacturing, information and communications, and infrastructure—and offers a wide spectrum of services, ranging from visualization of problems to support for the development and application of AI-based solutions. In the field of image analysis in particular, the company possesses highly accurate segmentation technologies as well as machine learning technologies that can be applied to limited datasets.
Ridge-i was founded in 2016 by current CEO Takashi Yanagihara, who has expertise and experience in both business and advanced technologies, having participated in the establishment of new businesses and the development systems for major telecommunications companies and financial institutions. One of the company’s chief strengths is its ability to offer consulting that identifies the true issues faced by its clients.
Through its partnership with Ridge-i, ORIX seeks to promote the use of AI technologies, to improve productivity and work efficiency throughout the Group. In addition, ORIX intends to develop new products and services that utilize image data, and provide effective AI solutions that help resolve management issues faced by small and medium-size enterprises across Japan.
According to research carried out by Fuji Chimera Research Institute, Inc.*, the Japanese AI business market is forecast to be worth some 1.9357 trillion yen by fiscal 2025, double its fiscal 2019 levels. On the back of the rapid rise in teleworking, an increasing number of companies are actively promoting structural reforms that make use of digital technologies, while the development of new products and services centered on digital transformation is also progressing. These and other factors are expected to contribute to the further expansion of the AI business market.
Going forward, ORIX will continue to partner with start-ups that possess advanced technologies and expertise, and use its national sales networks to help resolve management issues faced by Japanese companies.
* “2020 Comprehensive Survey on the Artificial Intelligence Business,” Fuji Chimera Research Institute, Inc.
|Address||1-6-1 Ote-machi, Chiyoda-ku, Tokyo|
|Number of employees||46(as of July 2020)
30 engineers and 4 consultants
|Description of business||Development and consulting for AI solutions|
|Website||https://ridge-i.com/ (in Japanese)|
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Investor Relations and Sustainability Department
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 34 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of September 30, 2020)
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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, 2019 – March 31, 2020.”
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