ITOCHU Announces Investment in Mobile-Related Venture Business in Thailand
August 28, 2017
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it agreed on capital participation in Eko Communications, Inc. (hereinafter, “Eko”), a provider of mobile communication tools for companies in Thailand.
In recent years, smartphones have spread rapidly throughout Thailand, with about fifty million units held for a population of about sixty eight million people at the end of 2016. At least 90% of Internet users use a smartphone, with a strong tendency toward usage of privately held smartphones for business purposes. The current issue is security while using SNS and similar services.
Eko is a business communication tool that provides the ability to use necessary functions for business through smartphones and personal computers, including “business chat” and “file management.” This tool can meet demands for the addition of a variety of functions, such as “workflow,” according to the needs of different companies. In terms of security, it is also equipped with sufficient functions for business use, including user management, log management and anti-malware measures.
ITOCHU concluded the agreement for a business tie-up with one of the leading Asian conglomerates, Charoen Pokphand Group Company Limited (headquartered in Bangkok, Thailand; Senior Chairman: Dhanin Chearavanont; “CPG”) in 2014. The two companies are jointly engaged in expanding business in the non-resource sector, mainly in the Asian region.
ITOCHU also works in the ICT sector on discovering venture opportunities for investment in Southeast Asia, typically supporting a venture development business called the True Digital Park project(*), which is promoted by True Corporation Public Company Limited, an operator in the mobile communication business and Pay-TV segment, under the umbrella of CPG.
The service provided by Eko is widely used by CPG group companies and financial institutions in Thailand. With the growing expectation that needs for mobile communication tools for business use in the Asian region, ITOCHU will push forward with business development with Eko, including collaboration in the venture business in which ITOCHU invests.
ITOCHU, which is actively moving forward with investments in ventures both in Japan and overseas, will invest in ventures in Southeast Asia and continue to offer more new services that harness technology.
- *The project to build Thailand’s largest digital hub. It is scheduled to provide a co-working space for the opening of offices and data centers by domestic and foreign venture companies, universities and research institutions, among others, from 2018.
Corporate Profile of Eko
|Corporate name||Eko Communications, Inc.|
|Head office||Bangkok, Thailand|
|Business description||Provision of mobile communication tools for companies|