ITOCHU Corporation (headquartered in Tokyo, Japan; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that it has entered into a capital and business alliance with Via Transportation, Inc. (headquartered in New York City, USA; Daniel Ramot, CEO; hereinafter “Via”) in addition to a strategic investment in Via’s system provider in Japan, Via Mobility Japan K.K. (headquartered in Tokyo, Japan; Cariann Chan, CEO; hereinafter “Via Japan”).

As the fourth industrial revolution — characterized by the convergence of advanced technologies such as internet of things (IoT) and artificial intelligence (AI) — is transforming the long-established business models and markets, smart mobility solutions and services are transforming the transport sector with Via providing the world’s most efficient shared rides.

Around the world, Via’s unique ride sharing algorithm makes it the most efficient ride-hailing provider on the market, boasting a utilization rate higher than 70 percent in New York City. High utilization means vehicles have passengers on board more of the time. This translates to reduced congestion and emissions, with fewer empty or single-occupancy vehicles clogging the streets. Unlike conventional single occupancy point-to-point transport, Via provides multiple, seamless origin-to-destination journeys for riders globally through its world’s first operating system for on-demand shuttle networks.

In addition to providing consumer services in major cities in the United States and Europe, Via’s technology is deployed worldwide through partner projects to public transportation agencies, private transit operators, taxi fleets, private companies and universities.　 Via now has more than 60 launched globally.

Taking into consideration the current transport infrastructure and capacity in Japan, there is a growing demand for more efficient transit solutions. Via Japan will aim to address the ongoing transportation challenges that Japan is facing by introducing Via’s on-demand shared platform and technology to existing public and private transit operators, and private companies.

As part of its new mid-term management plan “Brand New Deal 2020,” ITOCHU is concerting its efforts to reinvent its business through investments in new and next-generation technologies.

Since last year, ITOCHU has been actively investing in the global mobility market including investments in Singulato, an EV manufacturer; DST, a rental and maintenance service provider for commercial EV; and Hiyacar, a peer-to-peer car sharing platform provider. With Via’s vast global experience, ITOCHU plans to accelerate its next-generation business in the mobility market.